Is Bitcoin really crashing

[spectre71]

 I use the the news and previous performance to invest. Peoples predictions and candle charts don't mean anything to me. I laugh to myself when hopesters want a bull run off no data but they just "know".

I've said on here many times before we have allot of bad news to come including an exchange failure and more stock market carnage. Well we had the exchange failure.

We are going to loose some more ground for awhile and some leverages to pan out.

Good, failure is a win for those with money on the sidelines.

DCA is your friend

[Hypnosis00]

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

Crypto crash, bear market - or whatever it is? It is just a normal scenario, in fact, we even have that worse experience a long time ago but guess what, the market was still able to recover because many are trusting Bitcoin and staying than those who leave and spread FUDs. As we are in the bear market, we expect more of a downfall and instead of worrying about the future, better make open our eyes and see the opportunity. Soon this will be over, the bull market will come next to this. And those who keep their faith in Bitcoin will be rewarded and those who rejected will regret it.

[STT]

I was beginning to think I had missed the uptrend, left a buy too late to catch 'perfect'.    In the back of my mind, the ultimate test the trip for those confident in their step was an obvious plot device for the path of BTC.   Melodrama is a must in the crypto world I guess, its a reflection of hype we must have the plunge and hit the granite face first before we can witness the strength of who and what gets back up to take the climb further.   
   
   I presume we must now explore this full range, very roughly the price action in the teens not just the orbit near to 20k.    Its always a time for caution when the double sided light saber comes out the weapons cupboard with doji candles its a volatile sign for sure; perhaps church bells sounded from the local monastery should ring out to warn of an invasion of interest with irritating news articles on the perils of Bitcoin.



18k down to 12k there isnt much action (period end 2017 to 2020 market and breakup), bit of an air pocket and so potential weakness in this area.   Simply put its easier to traverse from one side of this area to the other then high traffic areas with lots of trades set down; here there is not much trading seen previously.  I presume we can move through all this area without even being that bearish, not much power is required so its 'icy'.

Its only a rough chart, I think theres plenty of time to draw it a hundred times in the dirt while we're here navigating the fog of news events, price will loop a few times imo.  Hopefully I'm incorrect and we return to 20k + by end of week, guessing not though.

[GreatArkansas]

If we zoom out the chart, seems the resistance of the 2017-2018 bull run is already broken now. But I believe, this monthly candle will still recover. Because either drop from below $20,000 is just a wick for higher time, else we will experience again in 2017-2018 when the $19,000 - $20,000 becomes resistance.
I am really hoping we will recover the $20,000 level, so current price now will be just a wick.

[kro55]

Bitcoin Crash is more than 20% today the price today is around $ 16K, and according to the prediction of many price experts will continue to fall because of the war between Binance and FTX, we are worried because FTX will attack back to binance and proven today BNB drops more than 13%.

There is no other war, everything is so clear, FTX has locked the withdrawal and they are losing 8 billion. I guess the root cause is still SBF's fault when they have unclear financial statements and were the first to spread that story coindesk, Binance is just trying to protect its investment, as they also suffered heavy losses with Luna.

Another thing I'm thinking about that could be related to American politics, the SBF went public and supported the Biden administration in the midterm elections yesterday. While Elon and CZ joined hands to buy Twitter and Elon openly supported the Republican party before election day. It doesn't matter who wins, the biggest loser is still the market, investors like us.

[lienfaye]

The current crash in the price of bitcoin and the entire crypto market in general is nothing to be bothered about, Infact, to me, it's a good opportunity to Bag some bitcoin at a cheaper rate, as I think it will recover fast ones the dust settles, things are currently hot right now due to the current FTX and BINANCE bruhaha..

The FTX issue clearly had an impact to the price of Bitcoin and altcoins due to FUD. As we can see the price of Bitcoin plunged to its lowest this year and many people are asking for the reason why it is falling.

This is not new in crypto ecosystem because everytime there's a bad news circulating, it does contributed to the movement of the market to drop. Thus, for investors who used to this kind of situation, it's something not to be worried about. While others are busy selling, wise investors are also busy accumulating. The prices are cheaper so don't miss the opportunity.

[Reatim]

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

Hope it is crash and we are going to see 10k ? then I will be very thankful as I wanted to see this happening again as I wanna buy more , at least half of bitcoin in 10k 


and that is not a Mini Pump instead it was being blocked by that FTX problem?

anyway , I still believe that in December there will be light for all bitcoin supporter , care nothing about Shitcoins.

[Pejoh Asu]

There is always a shock that makes the market dim, 2 days ago I was optimistic that the price of Bitcoin could touch $ 22K, unfortunately after there was a locking withdrawal, it made things bad, investors were always sensitive to any issue so that they were easily panicked and made a significant market drop, today is a record lowest price since the last 2 years

[boltz]

This is not crashing. It's just pure correction of what Bitcoin price should have been 2 months ago where during the summer the price stayed above 20k$. Now , with winter approaching , halv is far far away , it was time for Bitcoin and entire market to have it's long waited correction. Can it drop further ? I've said in so many posts of mine in Speculation , that Bitcoin will drop under 15k by the end of the year and it will keep dropping in price until autumn 2023. This was always my prediction and I'm sticking with it and so far I'm aware of what Bitcoin might do next.

[Husires]

Comparing to altcoins and ignoring ( stablecoins & OKB ) bitcoin have the same value as it was a week ago.
So, Bitcoin crashing at a level:

• Cash (the dollar and the rest of the major currencies) the ratio so far is 20%, which may be followed by a quick bounce.
• Some base tokens: They are few in number and cannot be considered a crash in price.

Re-bounce will happen

[peter0425]

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

at some point , it recovers a little this time https://coinmarketcap.com/currencies/bitcoin/ increasing at least 2% since morning and with this I believe that the bearishness  is over and the case  of that FTX will finally over , as this is truly a fast drop from 21k dumping to 16k just overnight.
hoping that before the 3rd week of November at least we will see some greening back as we expected this to happen late October to continue growing till the end of 2022.

[Nrcewker]

Let it go down to $14K. I have some plans. It's been a while I was away from the forum.

It’s not possible for Bitcoins to fell upto this mark. Minimum it will go upto 16k, but not less than that. And currently this market manipulations are done by the big sharks for their own profits, so saying anything about the dip or bear is too early. We need to observe the market pattern before taking any major decision. But currently it will be best if we buy as many Bitcoins as we can, as once market grabs it’s pace, it won’t stop. So we need to act wisely.

[Yatsan]

Still surprised?
We've been here for years, definitely we saw lower market value of it. Sell if you must but hold if you can.

There is always a shock that makes the market dim, 2 days ago I was optimistic that the price of Bitcoin could touch $ 22K, unfortunately after there was a locking withdrawal, it made things bad, investors were always sensitive to any issue so that they were easily panicked and made a significant market drop, today is a record lowest price since the last 2 years

It is money we are talking about here, ofcourse there will be investors who would react if it is regarding their invested money. There's still more than a month for the market prices to somehow go up but I doubt this period would be enough for the market prices to fully recover. Let us just hope that its market value won't be at its lowest wherein Bitcoin, as the mother token, will be having a hard time to get a foot back.

Let it go down to $14K. I have some plans. It's been a while I was away from the forum.

It’s not possible for Bitcoins to fell upto this mark. Minimum it will go upto 16k, but not less than that. And currently this market manipulations are done by the big sharks for their own profits, so saying anything about the dip or bear is too early. We need to observe the market pattern before taking any major decision. But currently it will be best if we buy as many Bitcoins as we can, as once market grabs it’s pace, it won’t stop. So we need to act wisely.

Possible especially if the situation will continue or worse, to be worse. Patterns are still blurry at this point which is why there is somewhat of a commotion on investors' end whether to sell temporarily or to endure the pain of seeing how big your losses become.

[SirLancelot]

What’s up people have y’all checked the market, our mini pump is over and we are seeing yet another #Cryptocrash,
so let’s hear your predictions what’s going to be the flow of #cryptocurrencies are we ever going to be #BULLISH or are we going to be #Bearish throughout this year.

It's pretty obvious that we are still bullish, there are some minor run leading up to at least $21,000, but it is not sustainable though.

As for the recent lowest low, it's not Bitcoin's fault, it was drag along as to what happen to FTX and so many panic, sold their Bitcoin again because of the negative news. However, in this kind of situation, it's better to buy, as e are in the $17,600 range.

I do agree that there is nothing to worry, we have been in this kind of situation on the Terra Luna crash and we did bouce back although it take months, but still recovery is there for us.

Btc price was spotted stably at $21k last time just before the negative news came about FTX, CZ/Binance and FTT and I think this had caused the price to go to $17k but earlier the price was still at $18k. It seems it is not stopping yet. Maybe newer lows are going to be recorded this time. With all of these, I am sorry but I can't agree with you when you say that we are still in bullish.

I didn't check out other coins price but I know, others price will only depend on the btc's actions. Btc is innocent here. It's only just a coin but the one that creates the price is we people. Well if we panic, that is isn't helping but it will only make the price to go down a lot. People should grow up and be calm instead.

[NotATether]

The reason for the sudden dropped could be,

• FTX and Binance news related
• LUNA collapsed
• FOMO
• Lossing Investors Confidence

There fixed that for you.

This is exclusively an FTX-induced crash. People will keep talking about this moment long after it's over, but the market will forget about it very quickly once the news becomes the past.

Funny how CZ tweets that Binance will try to liquidate their FTT in a way that minimized market impact, and almost immediately after that, Bitcoin and other cryptos break several supports because of FTX's fuckery...

[el kaka22]

Market gets shocked too quickly, I never truly understood it and that didn't make any sense to me at all. I am not saying that it should not be volatile or just change and all that, sure it can do that but it doesn't mean that it should be like this and act too wild.

The best thing it could do right now would be being calm, all this already happened and moved, just be calm. The movement up wouldn't even be good, because if you become 23k today for example, that means the volatility is so high that the market would lose credibility. Just be patient and it will recover eventually and you will do better. Just a stable market for a while is what we need.

[Chainsmokers]

I think it went so quickly down that we must admit it was crash. Although in my opinion that doesn't mean it's the end of the world. It quickly gained support. I didn't buy any Bitcoin through this experience. I didn't panic sell. I mainly watched it. But I think it may good opportunity to short.
I guess bear will keep on going for some weeks or months more. I plan to wait for even better opportunity so I can maximize my gains.

bears still dominate the market but it is very risky to take futures trading on the exchange because we know bitcoin is currently also very volatile,
a lot of it is liquidated because it is open short and long, yes if you are a pro trader please play there, but if a who don't understand about technical analysis,
I suggest staying away from futures trading and buying in the spot market only for the long term, then your funds will be safe there.

[19Nov16]

The shock 3 days ago made a big panic, FTX which was a big exchanges disable for withdrawal so that it had a big impact on the market, but after many Top Cryptocurrencies including Justin Sun provided confirmation and support, slowly the market began to improve and I hope FTX can recover so that investors are increasingly optimistic for investment.

[CageMabok]

The shock 3 days ago made a big panic, FTX which was a big exchanges disable for withdrawal so that it had a big impact on the market, but after many Top Cryptocurrencies including Justin Sun provided confirmation and support, slowly the market began to improve and I hope FTX can recover so that investors are increasingly optimistic for investment.

Now the condition is still not recovering because there is only a slight increase in the price and in general it is still at a cheap level. Hoping that conditions can continue to improve in the near future is not wrong, but to return investors' optimism to FTX I think it will take a little longer because investors can still use other exchanges if they want to invest as usual.

The quarrel of the two major exchanges at this time can indeed be resolved in the near future because it is a condition where each other wants to maintain itself to keep winning and in this case what will be very overwhelmed is FTX so that investors are reluctant to enter FTX again to invest.