Another red day

[jossiel]

Just as the typical market day.

We get to see this as a normal day of the market and Bitcoin stays at $29k and there's no movement at all. This is like, it's either no movement at all or we get to see some bloodbaths from the alts market.

Anyway, nothing surprising at this moment as there's not that much news except those typical meme and ai coins being marketed by different exchanges.

I miss the days when Bitcoin is on sideways, we see altcoins are pumping.
For me, this is just a sign that we are still not in a bull market.

It's gonna be a long sideways for the entire market for me, but bloody for small-cap altcoins. Sideways Bitcoin for me is good for my bags as I hold Bitcoin and high market cap altcoins.

Yeah, bull run isn't yet there.

It takes time until we see all of those signs that we're already in the bull run. For now, it's gonna be waiting time if you're waiting for some specific altcoins to be up.

And that's like a sign before a bull run that happens for bitcoin, while we're waiting for that. We need to be patient or you pick what you wanna get at this point.

[Bitstar_coin]

In the eyes of an investor with lots of cash, red days only signifies another great opportunity to top up what they have already accumulated and as for small investors, a red day is another sad day because their portfolio is down by some percentage.
The market imo has been relatively in one position for quite some time now, it will be good to see some real movement, upward or downward.
Perhaps there is going to be a last opportunity to buy any coins at low price before the long-awaited bull season arrived.

[TopT3ns]

In the eyes of an investor with lots of cash, red days only signifies another great opportunity to top up what they have already accumulated and as for small investors, a red day is another sad day because their portfolio is down by some percentage.
The market imo has been relatively in one position for quite some time now, it will be good to see some real movement, upward or downward.
Perhaps there is going to be a last opportunity to buy any coins at low price before the long-awaited bull season arrived.

Many traders misunderstand red market conditions, even though when the price is red they should buy a very large amount of assets, but it should be noted that the assets purchased must have the potential to go back up at high prices, and you need to remember that all Asset purchase transactions must at least be recorded neatly with your portfolio using Excel or something like that so that when the price goes up you can sell it and take the profits that have been obtained.

[Rupok]

XRP, ADA, SOL, TRX, MATIC, LTC DOT, AVAX are all down today, this is normal, as long as the market remains in a bear market, it will continue to happen.  Because the price of altcoins fluctuates all the time. When the price of altcoins goes down, it keeps going down.  If we look at Bitcoin we can see that Bitcoin has gone from 26k to now 29k which is really great.  Altacoins are in the red day after day, there is not much change in the market price going up.But many people are disappointed by the red market, because they lose a lot of capital due to the market going down.  But some people hold coins by investing huge amount of money in this red market.

[Oneandpure]

Seems like a lot of major coins are down again, XRP, ADA, SOL, TRX, MATIC, LTC DOT, AVAX all of them are quite down today. Anyone knows if there was a specific reason for this drop, or was this just another one of those days. I am not worried by the way and neither should you, crypto prices sometimes falls like this and they just recover after a while and its natural part of the market. There is no UP without Down first and that's what we are seeing right now, we need to see the down like these days in order to appreciate the up when we get it. So do not be worried, its fine, I have no idea what caused it at all, but it will be gone in a week or two for sure.

There are not specific reason why major top standing ten coins in CMC have going drop because Bitcoin current price from $29,000 dropped until $25,000. Its have been natural when Bitcoin going drop drastically will allow by all altcoin and today depend with Bitcoin keep stable in lower price we got all altcoin keep going down and not easy raise to higher price. We don't need for long time getting some altcoin have going to lower price with Bitcoin crash without few hours all altcoin going dump, but difficult for altcoin back to higher price as soon possible when bitcoin have been on the top price. More be patience waiting until bitcoin back to higher price again and we get opportunity with altcoin can back up higher price than before.

[wxa7115]

XRP, ADA, SOL, TRX, MATIC, LTC DOT, AVAX are all down today, this is normal, as long as the market remains in a bear market, it will continue to happen.  Because the price of altcoins fluctuates all the time. When the price of altcoins goes down, it keeps going down.  If we look at Bitcoin we can see that Bitcoin has gone from 26k to now 29k which is really great.  Altacoins are in the red day after day, there is not much change in the market price going up.But many people are disappointed by the red market, because they lose a lot of capital due to the market going down.  But some people hold coins by investing huge amount of money in this red market.

Those people are looking at it on the wrong way, if I want to buy a car and the price of the car goes down why should I be mad about it? So this is an opportunity to buy bitcoin and get more of it due to its reduce price.

Now it is true that people get mad about the drop on the price as they were already holding some coins and this downward movement could represent some unexpected losses for them, but people need to remember that you only lose money when you sell, so as long as you can keep holding you coins you have lost nothing.

[crwth]

After 15 days, it's still the same. Additionally, the major ones like BTC and ETH are down.

This is just the cycle I guess. A lot of people probably are selling off with their holdings because of something that they have to do. We can never predict the market but we can only hope for the best ones. Just keep accumulating if you have the capacity to, and if you have some opportunity to profit or take advantage of it, I think it would be ok.

[asriloni]

After 15 days, it's still the same. Additionally, the major ones like BTC and ETH are down.

This is just the cycle I guess. A lot of people probably are selling off with their holdings because of something that they have to do. We can never predict the market but we can only hope for the best ones. Just keep accumulating if you have the capacity to, and if you have some opportunity to profit or take advantage of it, I think it would be ok.

The price of Bitcoin has plunged by 9 percent - dropping to a two month low - following reports that Elon Musk's SpaceX had dumped the cryptocurrency.
The world's most popular cryptocurrency fell below $25,500 per virtual coin on Thursday night, according to data from digital currencies specialist CoinDesk - the lowest it has been since mid-June.

https://www.dailymail.co.uk/yourmoney/banking/article-12421275/Bitcoin-plunges-Spacex-sells.html

Space x was just triggering so many people to sell their bitcoin and ethereum. I have heard that even some whales were cutting lose their investment in bitcoin and ethereum as these whales were buying when btc was around 30k. The movement from the big companies is definitely unpredictable.
We may see further dump to happen with crypto if there will be more companies will try to liquidate their crypto asset. The crypto market needs a long time to recover from this dump.

[WatChe]

https://www.dailymail.co.uk/yourmoney/banking/article-12421275/Bitcoin-plunges-Spacex-sells.html

Space x was just triggering so many people to sell their bitcoin and ethereum. I have heard that even some whales were cutting lose their investment in bitcoin and ethereum as these whales were buying when btc was around 30k. The movement from the big companies is definitely unpredictable.
We may see further dump to happen with crypto if there will be more companies will try to liquidate their crypto asset. The crypto market needs a long time to recover from this dump.

spaceX has sold 373 million USD worth of Bitcoin and that's not something huge but still the Bitcoin community has taken it seriously once again. There are also new that SEC has delayed the decision on Bitcoin ETF till April 2014 and that has also given a blow to Bitcoin. Such correction was expected as Bitcoin has a bull ran that started from 16k and was very much stable on 29 to 30k. This s not a big DIP compared to what we have seen in the past. Its advisable to relax and swallow this pill with patience. 

[raidarksword]

All major coins are down maybe it's true that Elon Musk sold his bitcoin that's why we suffered red market this week. Though I am not shocked about this because we all know that every August it's a red market and many believed August is a ghost month of chinese people that's why it's very predictable of what market's condition.

[blockman]

All major coins are down maybe it's true that Elon Musk sold his bitcoin that's why we suffered red market this week.

That's not a rumor and it's true based on the articles that came out and became a buzz. But you know what, this is what these whales do like. They make hey and noise so that they can move the markets and then that's the time that they're going to make their moves through accumulation and buying more of it, it's no longer a secretive move when everyone else does know that already.

Though I am not shocked about this because we all know that every August it's a red market and many believed August is a ghost month of chinese people that's why it's very predictable of what market's condition.

Ghost month seems to be really like this whenever we go through it. But we're just a few days away from this month's end and that's probably the start of the recovery that we're about to see.

[JeffBrad12]

its just temporary phase, elon dumping bitcoin is to be expected from long ago, never think those institutional investors are bagging crypto as their investment forever.
eventually they will have to dump it for the sake of the company cashflow or whatever it is.
same thing with elon's company right now, they eventually just gonna cash out their investment and thats it, within few days the condition of the market will be back to normal again and I'm sure that
this corrections is rather short lived, market already endured the dumping, there's no other way but to climb up, though thats just my rough guess after all, the market could be very well experiencing another waves
of bearish which causes corrections everywhere.

[doomloop]

After 15 days, it's still the same. Additionally, the major ones like BTC and ETH are down.

This is just the cycle I guess. A lot of people probably are selling off with their holdings because of something that they have to do. We can never predict the market but we can only hope for the best ones. Just keep accumulating if you have the capacity to, and if you have some opportunity to profit or take advantage of it, I think it would be ok.

It's probably okay for those who have bought just recently and are going to sell back for some profit hoping that they can buy lower maybe, but those who have bought way back and have been waiting for a very long time for the market to go up are supposed to keep holding because even if they are not in loss and getting a few percentages of profit, it's not really worth it after all that wait, now when the halving is so close and so is the long-anticipated bull run.

Right now is the accumulation phase, as you said, those who can afford to do so should keep accumulating with every drop in the price so that they can reap as much profit as possible when we enter the bull market, and those who can't do that should simply keep holding and waiting for it to come.

[Ziskinberg]

its just temporary phase, elon dumping bitcoin is to be expected from long ago, never think those institutional investors are bagging crypto as their investment forever.
eventually they will have to dump it for the sake of the company cashflow or whatever it is.
same thing with elon's company right now, they eventually just gonna cash out their investment and thats it, within few days the condition of the market will be back to normal again and I'm sure that
this corrections is rather short lived, market already endured the dumping, there's no other way but to climb up, though thats just my rough guess after all, the market could be very well experiencing another waves
of bearish which causes corrections everywhere.

Well, I don't that bad about the current market situation anyway because just like you, this is temporary and it dumps because of some reason which surely is ended up soon and rise again. And talking about another bearish season, I wasn't thinking till now as I believe that only once it happens in the market for every 4 years and we've done it already last year. However, we also have to prepare for whatever happens in the coming days but I was too positive that it will turn back to $29k again before the end of this month.

[kotajikikox]

Seems like a lot of major coins are down again, XRP, ADA, SOL, TRX, MATIC, LTC DOT, AVAX all of them are quite down today. Anyone knows if there was a specific reason for this drop, or was this just another one of those days. I am not worried by the way and neither should you, crypto prices sometimes falls like this and they just recover after a while and its natural part of the market. There is no UP without Down first and that's what we are seeing right now, we need to see the down like these days in order to appreciate the up when we get it. So do not be worried, its fine, I have no idea what caused it at all, but it will be gone in a week or two for sure.

and this happens again couple of days ago, and yes not only few but all coins dumped that bad.
wondering where are we heading now?
does anyone can give complementary comment on what will we expecting at least in the next weeks?

[wheelz1200]

Seems like a lot of major coins are down again, XRP, ADA, SOL, TRX, MATIC, LTC DOT, AVAX all of them are quite down today. Anyone knows if there was a specific reason for this drop, or was this just another one of those days. I am not worried by the way and neither should you, crypto prices sometimes falls like this and they just recover after a while and its natural part of the market. There is no UP without Down first and that's what we are seeing right now, we need to see the down like these days in order to appreciate the up when we get it. So do not be worried, its fine, I have no idea what caused it at all, but it will be gone in a week or two for sure.

It's definitely a down market right now.  I consider a great buying opportunity.  Don't think this market is going to progressively get better for awhile.  At least not in 2023.  This is a time when smart people are accumulating.  Remember be greedy when people are fearful and be fearful when others are greedy.  Right now is a buyers market.

[Wahyuihib]

going up and down the price of crypto currency is a common thing that I have often experienced so every trader must experience it.  the only positive thing I take when the price is dropping is to increase my holdings of the few coins I have whenever possible.

[fauzan Ichsan]

I don't know the exact reason, but with a slightly significant decrease in bitcoin, it makes altcoins also follow suit, it's pretty good that altcoins keep up with the developments and movements of bitcoin, that means later when there is a pump on bitcoin this altcoin will also fly higher. however, if we want to buy it at this time, of course, we have to set aside money to guard the next purchase, because it could happen that the bitcoin price will fall again, and it is likely that this altcoin will follow suit.

[tygeade]

XRP, ADA, SOL, TRX, MATIC, LTC DOT, AVAX are all down today, this is normal, as long as the market remains in a bear market, it will continue to happen.  Because the price of altcoins fluctuates all the time. When the price of altcoins goes down, it keeps going down.  If we look at Bitcoin we can see that Bitcoin has gone from 26k to now 29k which is really great.  Altacoins are in the red day after day, there is not much change in the market price going up.But many people are disappointed by the red market, because they lose a lot of capital due to the market going down.  But some people hold coins by investing huge amount of money in this red market.

Indeed, and most of them are on this position even before. I think it was only XRP who are performing well last time but now maybe XRP have also dumped. I think that is because of the said company of Musk who sold 300 million dollar worth of Bitcon. Cryptos are known to be volatile but there are times where they can became stagnant in either in a dump or pump position. Now it was in a dumped position.

I think that is because we are not yet fully out of the bear (as you stated). Fluctuations is when the price goes up and down, not when it moves on one direction. Those who are disappointed are maybe newbies who are not used to these market conditions but if they only take their time to research before they enter, maybe their views and actions will change. 

[WatChe]

I don't know the exact reason, but with a slightly significant decrease in bitcoin, it makes altcoins also follow suit, it's pretty good that altcoins keep up with the developments and movements of bitcoin, that means later when there is a pump on bitcoin this altcoin will also fly higher. however, if we want to buy it at this time, of course, we have to set aside money to guard the next purchase, because it could happen that the bitcoin price will fall again, and it is likely that this altcoin will follow suit.

Till now price of Alts are very much hooked with Bitcoin and alts move up whenever bitcoin moves up and vice versa. At the moment bitcoin is still going  down and hasn't settled yet so Alts will follow the same pattern. Keep an eye on strong Alts like Eth or BNB and buy when you think price has dropped to your target level.