Crypto dump is just getting started?

[Swordsoffreedom]

The decline in crypto started a few months ago but is happening slowly.

The decline in crypto or we entered bear season exactly from the end of last year, not just the beginning of a few months ago.

And it turns out that the situation worsened after the bitcoin price dropped drastically from $21k to $16k at yesterday's low.

If comparing bitcoin falling from 69k ATH to 20k, in my opinion that is actually much worse, dropping from 20k to 16k would be nothing.

And there is a possibility that this situation will continue but that does not eliminate our patience to keep waiting for the market to reverse direction. Maybe next year will be our best year again to see the market start to reverse direction or even 2 more years. And the best we can do is to stay in this difficult situation because all of this will surely end and we will all be smiling happily because we can get big profits again.

I also have the same opinion as OP, the demise of FTX is not simply the death of FTX or alameda, but it will lead to hundreds of projects they invest in or companies they borrow as collateral. Crashes won't happen now, they will happen gradually and will drag the market down more.

[bitterguy28]

Don't worry mate , if this going to happen? I'm the one who will benefits because I was waiting for this perfect timing to happen , imagine 10k? when the price increase last year to almost 70k?
that would be x7 to the capital if I am going to buy this time, so maybe there will be a different effect to all of us, some will cry while some will smile .

[GeorgeJohn]

I think a lot of people had money on FTX. Many withdrew partially because they assumed it was FUD. Many didn’t withdraw anything at all.
(....)

Exactly! I am also a victim here, at first when the issue started to pop public, I am really saying it was just a FUD, I tried to withdraw a small number of funds from the FTX exchange and went succeeded, but after a few hours when withdrawals halted, I deposited some amount which my plan is just to convert it to another chain and until now the withdrawal is still pending.

While is that we have a good exchange like binance and it's worldwide exchange that's trustworthy but we still skip it to use FTX, is that they have higher exchange rate than binance that makes you people to be chosen it over binance, because i believe that we have other decentralized exchanges but their rate is below the rate of binance, i have not seen people complained over deposit in binance and also withdraw pending for awhile.

[Kelvinid]

No exemption has been seen in the market. The bear season is dragging the prices to go deeper and we expect more for it than a price increase.
Everyone is seeing the current situation but it is understandable, it is just to note that this drop will come and it is expected to happen because of the volatility of the market.

If we see Bitcoin will reach $15k, that was fine because investors will still buy it.
As seen, people are still here because they believe the recovery will come next. It dumps today but it rises again in a few days.

[Yatsan]

Don't worry mate , if this going to happen? I'm the one who will benefits because I was waiting for this perfect timing to happen , imagine 10k? when the price increase last year to almost 70k?
that would be x7 to the capital if I am going to buy this time, so maybe there will be a different effect to all of us, some will cry while some will smile .

Everyone hope that it is as easy as it may sound. No one knows when will the market price increase. Hopefully it won't be the same as what happened before wherein there were almost 2 years of no upward price motion with Bitcoin and other cryptocurrencies. And if that again would happen, we won't know if it will be as long as the aforementioned or even longer;depends on the market. If that's the case, even big invesyors would struggle beacuse their money would be in deep sleep even if they have ither choices of investments. But indeed, that would depend on what type of an investor you are but for sure, those who've been years in this industry are used to this kind of situations.

[CageMabok]

We deserve to worry about the current market conditions, this week the price of DIP is more than 22% and according to many predictions will be below $ 13K, of course this is a difficult thing, hopefully the FTX case is the last and will not exist so that the market can rise .

Sometimes those who make predictions also like to spread FUD so that people panic and sell their holdings as soon as possible into the market. After that, the person who made the prediction appeared and felt he was right because the decline continued after people panicked and chose to sell all their assets into the market.

Do you think the prediction was correct? If that's true, then everyone should spend as much money as possible to buy more Bitcoin at the price you say, because it's much better than the current price. And one more thing, don't you feel like you're losing when there's a downturn like now?

[erep]

Everyone hope that it is as easy as it may sound. No one knows when will the market price increase. Hopefully it won't be the same as what happened before wherein there were almost 2 years of no upward price motion with Bitcoin and other cryptocurrencies. And if that again would happen, we won't know if it will be as long as the aforementioned or even longer;depends on the market. If that's the case, even big invesyors would struggle beacuse their money would be in deep sleep even if they have ither choices of investments. But indeed, that would depend on what type of an investor you are but for sure, those who've been years in this industry are used to this kind of situations.

Although we can't determine when the market will recover and go higher than ATH, but we review that the cryptocurrency market has proven that BTC has released its highest price throughout the period, the important factor is not determining when it reaches the highest price but we have to make sure to increase the asset at the price lows and I think 10k might be the next low area if the market panic doesn't stop by the end of the year.

[bitterguy28]

Don't worry mate , if this going to happen? I'm the one who will benefits because I was waiting for this perfect timing to happen , imagine 10k? when the price increase last year to almost 70k?
that would be x7 to the capital if I am going to buy this time, so maybe there will be a different effect to all of us, some will cry while some will smile .

Everyone hope that it is as easy as it may sound. No one knows when will the market price increase. Hopefully it won't be the same as what happened before wherein there were almost 2 years of no upward price motion with Bitcoin and other cryptocurrencies. And if that again would happen, we won't know if it will be as long as the aforementioned or even longer;depends on the market. If that's the case, even big invesyors would struggle beacuse their money would be in deep sleep even if they have ither choices of investments. But indeed, that would depend on what type of an investor you are but for sure, those who've been years in this industry are used to this kind of situations.

I got your point mate and yes it is not that easy as it sounds but for Holder that understands how it may last ? like what you said 2 years or even much more? at least we will be ready to accumulate in this bear market and wake up when the Bull happens(the real Bull I mean)
. maybe also if we are truly dedicated to what we wanted here ?I believe that there is nothing impossible for us to achieve .
our Goal is to make money and alto to benefits from what is crypto is all about.

[Ayers]

Don't worry mate , if this going to happen? I'm the one who will benefits because I was waiting for this perfect timing to happen , imagine 10k? when the price increase last year to almost 70k?
that would be x7 to the capital if I am going to buy this time, so maybe there will be a different effect to all of us, some will cry while some will smile .

Other people's risk is our chance, I have never worried about anything even in the past accident days. Like in the current crisis, there are many people who are struggling, many businesses which are in danger of bankruptcy, but that does not mean that everyone is in the same situation. In 2021, when the pandemic hits, I have made a lot of money investing in medical equipment and with the current situation and bitcoin, I really want it to go to 10k. If you look at the $100k target that bitcoin will hit in the future, you will see nothing to fear but excitement instead.

[Wexnident]

The FTX collapse forced people to withdraw which lead to the current down ig, not to mention people profiting off from the 20k high we got at the end of October. The market still going down so far, I honestly thought we'd stop at around $17k again and just hover around there but it seems like we might even touch $15k again.

We deserve to worry about the current market conditions, this week the price of DIP is more than 22% and according to many predictions will be below $ 13K, of course this is a difficult thing, hopefully the FTX case is the last and will not exist so that the market can rise .

It probably won't be the last, but I don't think we'd see another one in the close future. As for a $13k dip, it isn't all that impossible but let's see if it breaks below $15k first before anything else.

[btc78]

Galaxy Digital also have over 70 million dollars tied to FTX Exchange, they are now withdrawing 47m $ and already at a loss of 68m $, I think we will keep seeing some more dips.

Is this all planned work or just the brutal of a bear market because it seems that in every bear market worst things like this always happens.

Now I have no choice but to believe that 10,000$ BTC is possible.

News Link below

http://coindesk.com/business/2022/11/09/crypto-finance-firm-galaxy-digital-reveals-768m-exposure-linked-to-ftx

10k for bitcoin is still far from reality mate , lets assume that there will be closer to 15k but 10k? look at the effect of FTX to the market , this make the price of bitcoin down to 16k(lowest of the price  since 2021 bull market) but still there will be more happening that we can expect but this does not mean that ten thousand price is on our way.

if we can lower the price this may be at least 12k the closest , and this is what the market is making us believe in its movement nowadays.

Although we can't determine when the market will recover and go higher than ATH, but we review that the cryptocurrency market has proven that BTC has released its highest price throughout the period, the important factor is not determining when it reaches the highest price but we have to make sure to increase the asset at the price lows and I think 10k might be the next low area if the market panic doesn't stop by the end of the year.

and also our capacity to keep holding , and our trust to this market. this will add so much value in the future because Bitocin proven this for how many times now.

[bitterguy28]

Don't worry mate , if this going to happen? I'm the one who will benefits because I was waiting for this perfect timing to happen , imagine 10k? when the price increase last year to almost 70k?
that would be x7 to the capital if I am going to buy this time, so maybe there will be a different effect to all of us, some will cry while some will smile .

Other people's risk is our chance, I have never worried about anything even in the past accident days. Like in the current crisis, there are many people who are struggling, many businesses which are in danger of bankruptcy, but that does not mean that everyone is in the same situation. In 2021, when the pandemic hits, I have made a lot of money investing in medical equipment and with the current situation and bitcoin, I really want it to go to 10k. If you look at the $100k target that bitcoin will hit in the future, you will see nothing to fear but excitement instead.

yeah , while others are losing some of us(also we) are gaining , this market is a cycle in which one must lose for others to earn.we must not worry about the price now because we all knew that it will increase eventually , sometimes it took longer but at least the assurance of increasing are there .
buy nowand keep it , the dump will continue so this is our chance to take wins in the future.

[eightdots]

Don't worry mate , if this going to happen? I'm the one who will benefits because I was waiting for this perfect timing to happen , imagine 10k? when the price increase last year to almost 70k?
that would be x7 to the capital if I am going to buy this time, so maybe there will be a different effect to all of us, some will cry while some will smile .

Other people's risk is our chance, I have never worried about anything even in the past accident days. Like in the current crisis, there are many people who are struggling, many businesses which are in danger of bankruptcy, but that does not mean that everyone is in the same situation. In 2021, when the pandemic hits, I have made a lot of money investing in medical equipment and with the current situation and bitcoin, I really want it to go to 10k. If you look at the $100k target that bitcoin will hit in the future, you will see nothing to fear but excitement instead.

yeah , while others are losing some of us(also we) are gaining , this market is a cycle in which one must lose for others to earn.we must not worry about the price now because we all knew that it will increase eventually , sometimes it took longer but at least the assurance of increasing are there .
buy nowand keep it , the dump will continue so this is our chance to take wins in the future.

We all know that Bitcoin will increase in the future and reach the value it deserves, and you are right about this. The real question here is, will the investor be able to wait for the duration that will pass? While there is a problem in the world every month, there is a great uncertainty. This is one of the things that makes people nervous.

[Natalim]

We all know that Bitcoin will increase in the future and reach the value it deserves, and you are right about this. The real question here is, will the investor be able to wait for the duration that will pass? While there is a problem in the world every month, there is a great uncertainty. This is one of the things that makes people nervous.

Those people who feel nervous are those who are not invested in Bitcoin or those who are lack of trust in crypto.

Whether you are going to believe it or not, whales are just playing us, doubters and panic sellers, because they are taking advantage of us. I know we can't erase the possible scenario of panic selling because not all are willing to hold their coins. The price will dump and be heavily affected by them but you know what, it is only their regrets when the bear season is over.

[albon]

We deserve to worry about the current market conditions, this week the price of DIP is more than 22% and according to many predictions will be below $ 13K, of course this is a difficult thing, hopefully the FTX case is the last and will not exist so that the market can rise .

There are many reasons for this dump, and one of the reasons is the collapse of the FTX platform, as this crisis incurred a major downturn in the market because the FTX platform was one of the largest exchange platforms for cryptocurrencies, in addition to shaking people's confidence in cryptocurrencies in general, and and then this resulted in large cases of selling tokens, especially the FTT token. For me, I am not optimistic about the market conditions these days, but the dump that we are witnessing will encourage us to enhance and increase the quantities of our tokens.

[Ararbermas]

Galaxy Digital also have over 70 million dollars tied to FTX Exchange, they are now withdrawing 47m $ and already at a loss of 68m $, I think we will keep seeing some more dips.

Is this all planned work or just the brutal of a bear market because it seems that in every bear market worst things like this always happens.

Now I have no choice but to believe that 10,000$ BTC is possible.

News Link below

http://coindesk.com/business/2022/11/09/crypto-finance-firm-galaxy-digital-reveals-768m-exposure-linked-to-ftx

the situation is still as is mate, i mean there's no changes since the market start to show a bearish sign and its normal that till now it keeps making correction. However if that news is true perhaps the company have a good reason to dump despite of the situation and i believe it will not make the market affected unless if we don't panic as its very common since day one.  Indeed they're are not the only one who owns massive amount of crypto in the space, so i think there's no need to worry about it IMO. Wherein just keep believing instead that afterwards market will recover from the dip.

[FanEagle]

We all know that Bitcoin will increase in the future and reach the value it deserves, and you are right about this. The real question here is, will the investor be able to wait for the duration that will pass? While there is a problem in the world every month, there is a great uncertainty. This is one of the things that makes people nervous.

Those people who feel nervous are those who are not invested in Bitcoin or those who are lack of trust in crypto.

Whether you are going to believe it or not, whales are just playing us, doubters and panic sellers, because they are taking advantage of us. I know we can't erase the possible scenario of panic selling because not all are willing to hold their coins. The price will dump and be heavily affected by them but you know what, it is only their regrets when the bear season is over.

If you do not trust bitcoin, that doesn't take away anything from bitcoin, but it does take away a lot from you in the long run, that's the thing they do not understand. If you know what you are doing, then you should be able to do it properly without a problem, but only if you know what you are doing.

People who let their emotions take control when they are trading or investing will not be able to profit no matter what. I personally do not let my emotions dictate anything, even if I am insanely scared, I see that as a good sign to buy instead of sell. Many people who know that long term holding is a great way to profit, could buy and then end up selling when the price goes down because they are scared.

[stomachgrowls]

Galaxy Digital also have over 70 million dollars tied to FTX Exchange, they are now withdrawing 47m $ and already at a loss of 68m $, I think we will keep seeing some more dips.

Is this all planned work or just the brutal of a bear market because it seems that in every bear market worst things like this always happens.

Now I have no choice but to believe that 10,000$ BTC is possible.

News Link below

http://coindesk.com/business/2022/11/09/crypto-finance-firm-galaxy-digital-reveals-768m-exposure-linked-to-ftx

the situation is still as is mate, i mean there's no changes since the market start to show a bearish sign and its normal that till now it keeps making correction. However if that news is true perhaps the company have a good reason to dump despite of the situation and i believe it will not make the market affected unless if we don't panic as its very common since day one.  Indeed they're are not the only one who owns massive amount of crypto in the space, so i think there's no need to worry about it IMO. Wherein just keep believing instead that afterwards market will recover from the dip.

There might be some companies and individuals which might be holding lots of coins on to their stashes but doesnt mean that they could really be the ones who could make out huge or sure impact on the market.

Its true that lots had been also owning coins or totally been distributed although there are ones who do hold lots but wont really be that precise on telling that they have the full control.

Dumps causes out by fuds is not really something new, even on a market which doesnt really have any news or fundamentals could really still make that random movement
which is totally unpredictable.

[CageMabok]

We all know that Bitcoin will increase in the future and reach the value it deserves, and you are right about this. The real question here is, will the investor be able to wait for the duration that will pass? While there is a problem in the world every month, there is a great uncertainty. This is one of the things that makes people nervous.

Investors are people who want to invest just because there is a chance of profit after investing even if they have to wait for a while. Now, in this case, investors who have already invested, of course, want to wait for the duration to pass, but for investors who haven't had the chance to invest this month, I think they will choose another place to invest, even if it's only for a while, while monitoring the market getting better.

Because they also don't want to waste time just because of certain conditions that are happening when there are other places that are more profitable to invest their money in. And if you have to wait, I think everyone will definitely want to wait for the sake of not losing because losing is something that everyone who works as an investor always avoids.

[Yaunfitda]

We all know that Bitcoin will increase in the future and reach the value it deserves, and you are right about this. The real question here is, will the investor be able to wait for the duration that will pass? While there is a problem in the world every month, there is a great uncertainty. This is one of the things that makes people nervous.

Investors are people who want to invest just because there is a chance of profit after investing even if they have to wait for a while. Now, in this case, investors who have already invested, of course, want to wait for the duration to pass, but for investors who haven't had the chance to invest this month, I think they will choose another place to invest, even if it's only for a while, while monitoring the market getting better.

Because they also don't want to waste time just because of certain conditions that are happening when there are other places that are more profitable to invest their money in. And if you have to wait, I think everyone will definitely want to wait for the sake of not losing because losing is something that everyone who works as an investor always avoids.

There are two set of investors,

Those who are into the long haul of it, regardless of what the price is right now, they will do DCA and continue to accumulate and wait for the right time to sell and make a huge profit

And there are those who are into it for short term, so make a choice.

For me it's very easy in this crash or crypto dump, it's better to buy and accumulate and wait till the next bull run.