Were Banks and Governments behind this Dump?

[Faisal2202]

Here is what I was thinking about the current situation of the market. I know I am going to talk about BTC but somehow things will be moving toward governments so I thought this section would be good to make this post. It's based on my assumptions and could be proved right if one is able to provide some tools to back my assumptions with stats.

The market was dumped due to 5 reasons, which are as follows:

• SpaceX sold BTC unofficially means there is still some confusion about it but they need not answer us that either they have sold or not because it is an open market.
• The surge in high-interest rates.
• High increment in Bond yeild
• ETH ETF just got a green light after this dump ETH went around $1500 which provided BTC whales a chance to collect some ETH too because this greenlight of ETF will take ETH to new heights.
• Devalutaion of Chinese Yuan

Source

The thing is, I think the government tried to manipulate the market like first they increased the interest rates recently just before this dump like a few days ago and after that, there was an increase in Yield bonds means more people are giving their money to Governemnts in exchange of getting a fixed return and they are for sure. And banks are now giving the same money back to those who are in need now after this dump for example those who wanted to take some entry and those who lost all of it because according to analysis the liquidation amount that was gone in this dump was more than the one liquidated in FTX. (source). The point is the same governments are now giving that money borrowed from other people to the needy ones with huge interest rates and I think if that's the case then interest rates will increase more.

Plus a few days back I also heard the Chinese Yuan was losing its value and the Netherlands was going into stage inflation and such news is just to put more pressure on holders and traders of BTC. Which it really did. Now those who have lost everything will turn towards banks for borrowing money and that money will have more interest rates on them means the borrowers have to pay more interest rates.

It's a win-win from all angles for banks and governments. Now the question is, how did they manage to make it work if they are really behind it. Or I might be wrong here because every picture has different stories for each viewer of it so what are your stories about this situation? Is it real or manipulated to fill bags? Not to mention why did SpaceX sell those amounts of BTC when they don't have to? We all know that Elon is a person of money who always follow the money and how he would sell the reaming amount of BTC which is all SpaceX has according to the wall street journal.

[Stedsm]

The interest rate increase was surely going to make dollar stronger which would definitely impact on various industries such as crypto and even on forex. Did you watch what's been happening in forex since yesterday and today also? US30 had been on a constant decline with other major foreign currency pairs against USD following the same pattern, tell me how would crypto survive that?

[348Judah]

The market was dumped due to 5 reasons, which are as follows:

• SpaceX sold BTC unofficially means there is still some confusion about it but they need not answer us that either they have sold or not because it is an open market.
• The surge in high-interest rates.
• High increment in Bond yeild
• ETH ETF just got a green light after this dump ETH went around $1500 which provided BTC whales a chance to collect some ETH too because this greenlight of ETF will take ETH to new heights.
• Devalutaion of Chinese Yuan

Source

Am not going to disagree with any of these because either of them can also affect the bitcoin market demand but not on supply since the market majorly go by the bitcoin supply through mining, but other whales and holders can also affect the supply in other direction, the good about it al is that they were all influenced by news and people together with investors take action on the next inline to do, if bitcoin market falls, it will definitely rises because it has the ability to resist the market influence from any of these to maintain it value, am looking at what others will say could have resulted to when the market rises back when we experience a bull.

[Yatsan]

I do believe that the biggest contributor with the dump is what SpaceX have done under Elon. That is a huge anount of holding to be sold in a single night. This has been surfacing around the web with ssunptions of why did Elon come up with selling that much of his wealth. As we all know that was almost two years of accumulation and was sold for a lower market price. No one knows the reason why did they do such thing but to my assumption, Elon wanted to dump the market price and trigger a domino effect and once oppoetunity come, they's buy back for a lower price for profit. Unfortunately the ones who suffered the most are small investors which have met with their liquidation and market price tolerance. There's a chance for recovery but no one knows when will exactly this thing would happen.

[Captain Corporate]

Absolutely not. I understand that there are some people who think stuff like this and I get why they think of it because governments have always done "illegal" things with the law allowing them to do it. Some people do not understand the concept of the "government can do it, you can't" logic in law, just for example, if someone points a gun at another person, you can't just shoot that person and kill them to protect the other person, you have no right, you would be charged with murder, whereas a cop can do it. This is the simplest explanation of the "government can do it, you can't" logic. But this isn't one of those, they didn't do it and there is no proof of it anywhere.

[Franctoshi]

The interest rate increase was surely going to make the dollar stronger which would impact various industries such as crypto and even forex. Did you watch what's been happening in forex since yesterday and today also? US30 had been on a constant decline with other major foreign currency pairs against USD following the same pattern, tell me how would crypto survive that?

I do believe too that interest rate is the key player in this recent dump,  raising the rate simply means making the dollar stronger, and obviously, any currency or asset that is trading against the USD will suffer the pain, Elon Musk on his side might have seen reason to sell and selling such huge amount of Bitcoin at the time will definitely cause more pain and dump the price.

[Stedsm]

The interest rate increase was surely going to make the dollar stronger which would impact various industries such as crypto and even forex. Did you watch what's been happening in forex since yesterday and today also? US30 had been on a constant decline with other major foreign currency pairs against USD following the same pattern, tell me how would crypto survive that?

I do believe too that interest rate is the key player in this recent dump,  raising the rate simply means making the dollar stronger, and obviously, any currency or asset that is trading against the USD will suffer the pain, Elon Musk on his side might have seen reason to sell and selling such huge amount of Bitcoin at the time will definitely cause more pain and dump the price.

TBH, I don't give a shit to what Elon Musk has/would have done even if he's got any role in this because in the end, we all are traders and we have the right to liquidate our funds whenever we need them, and if he did the same, then what's wrong with that? It's his money that he invested, who are we to ^blame^ him for this selloff? That's my pov and I'm not angry, but I feel pity for Elon Musk. In the end, he's a great guy who did too much for the society once he tasted success, and is still doing his best in other areas if we weed out crypto while talking about him.

[Beparanf]

Banks and Government doesn’t have any major Bitcoin holding for them to dump the price. The real culprit here are those people who panic sell as well as those whale traders that taking profit.

The current dip is not a major concern since we experience worst than that with a valid reason for dump while the current dump is just due to speculation wothout any solid proof that it’s the real cause. This dump will not happened if everyone will just hold since the government can’t dump the price because they don’t hold the majority of the Bitcoin supply.

[Faisal2202]

The interest rate increase was surely going to make dollar stronger which would definitely impact on various industries such as crypto and even on forex. Did you watch what's been happening in forex since yesterday and today also? US30 had been on a constant decline with other major foreign currency pairs against USD following the same pattern, tell me how would crypto survive that?

High interest rates mean less supply of dollar in the market means dollar will gain value over other currencies but believe me we can compare USD with other foreign currencies but not with BTC. Because BTC is way ahead of US dollar in many aspects of life. But that's not what we are discussing here we are discussing that people now found usd a better place of investment instead of BTC that's why they are not investing in BTC and BTC demand decreased like other foreign countries demand decreased.

And that's exactly what i was trying to saying, but tell me does it mean, Government really manipulated market to make US dollar more stronger.

After reading your point or stats i learnt:
1. The government which will get the most benefit out of it is US government. (Which i did not mentioned in my post)
2. This US30 measurement is really helpful to observe some readings to clear doubt.

Just to clear things out i was not aware of US30 before.

[franky1]

The market was dumped due to 5 reasons, which are as follows:

• SpaceX sold BTC unofficially
  

change this to MEDIA FUD spreaded that SpaceX sold BTC

what actually happened was in the last 2 years elon changed how much his holdings were worth in dollar value due to the price corrections in the last couple years.. this "write down" is not the same as selling and is not something that happened this month..
its MEDIA making a old news story and a bunch of influencers with their own social media and fake news sites that misread it and then changed it to sound like a sale occured[/list]

[Gyfts]

Devalutaion of Chinese Yuan

Speaking of the Chinese Yuan, Evergrande filed for bankruptcy in New York recently: https://finance.yahoo.com/news/china-evergrande-group-files-chapter-205343548.html

They have something like 300B in liabilities, and they aren't the only ones with a liquidity crisis. It tells you that the Chinese economy is heading in perhaps a tumultuous direction. The domino effect will be that other economies slide into a recession. I don't think it's some giant conspiracy. Companies rather have liquidity and let the recession present itself to be a buying opportunity of cheap assets.

[Stedsm]

--snip--

High interest rates mean less supply of dollar in the market means dollar will gain value over other currencies but believe me we can compare USD with other foreign currencies but not with BTC. Because BTC is way ahead of US dollar in many aspects of life. But that's not what we are discussing here we are discussing that people now found usd a better place of investment instead of BTC that's why they are not investing in BTC and BTC demand decreased like other foreign countries demand decreased.

--snip--

Again, I understood your point but when the demand for dollar increases worldwide and all the major currencies suffer as dollar becomes stronger, then that will also make the crypto markets go red and we'll see blood on the streets everywhere. Even if BTC used to see good amount of volatility before, that was all because it was being controlled by retail investors, but now institutional investors are involved who go according to the strength of dollar and I've been keenly observing this since they entered crypto, and even you can.

I don't think governments are only focused on BTC and/or crypto as they've got much big economic affairs to look into, however, when you're asking that who will profit from this dump?

Let me tell you, this (and even if BTC crashes down more) is a chance for every single trader out there that wanted a discount. So, it's a win-win not just for the governments but for all the traders as well.
See the positive side too, buddy!

And yes, US30 really helps a lot, but don't you trade it ever because it's a highly volatile thing.

[Gozie51]

Banks and Government doesn’t have any major Bitcoin holding for them to dump the price. The real culprit here are those people who panic sell as well as those whale traders that taking profit.

The current dip is not a major concern since we experience worst than that with a valid reason for dump while the current dump is just due to speculation wothout any solid proof that it’s the real cause. This dump will not happened if everyone will just hold since the government can’t dump the price because they don’t hold the majority of the Bitcoin supply.

I believe this is a good thinking on the way that btc has dropped this few days. I don't believe that government have a hand in the price drop or which government is that? Again interest rate  will not cause a sudden drop of price within two days thereabout. I believe that the story surrounding the sale of Elon musk SpaceX sold bitcoin and whether that story is verified as true or not, we know that rumour could make hodlers to start dumping thereby creating more FUD in the market.

[Unbunplease]

Banks make money in many different ways, including manipulating fiat currencies and bitcoin rates. I don't think banks are ignoring cryptocurrencies - they are really good at analyzing the situation, and they have a department of analysts who deal with currencies, stocks..... And cryptocurrencies haven't gotten far from that.

[Bushdark]

Banks make money in many different ways, including manipulating fiat currencies and bitcoin rates. I don't think banks are ignoring cryptocurrencies - they are really good at analyzing the situation, and they have a department of analysts who deal with currencies, stocks..... And cryptocurrencies haven't gotten far from that.

There are so many of these banks that have there own portfolio in some cryptocurrency including Bitcoin and USDT which is a way for them to maximize profits and able to pay there customers the interest they deserve. There are many things banks are doing to utilize our funds to make huge amount of money and pay there workers which is what most of us are still ignorant of leaving of funds in the bank for  the management to use and make there pocket rich while we might be waiting to get interest from our bank account holdings. I don't think the current bear market is as a result of the government policies or bank but this might be as a result of large selling power.

[Marykeller]

The interest rate increase was surely going to make dollar stronger which would definitely impact on various industries such as crypto and even on forex. Did you watch what's been happening in forex since yesterday and today also? US30 had been on a constant decline with other major foreign currency pairs against USD following the same pattern, tell me how would crypto survive that?

As the case may be, the crypto market will surely survive it when the time comes. The dump will be for a while not forever. Let's take it that this year, Bitcoin will dump heavily in price because of the interest increase rate. Hopefully, by next year when the idea of bitcoin halving will come to people's minds, the demand for bitcoin would increase, causing its price to soar as it should. As the dump of bitcoin keeps happening, we use the same manner to accumulate more bitcoin to our portfolio

[Bananington]

Of course, there is a dump, and the usual is happening, most people looking for who to blame for the dump and not just concentrate on trying to be focused on keeping the bitcoins they have. It is of no real importance always wanting to know what is the reason behind the price drop in bitcoins whenever  it happens because it is a normal phenomenon with bitcoins that something will always affect the price either positively or negatively. The government also that the accusing finger is usually pointed towards are not the cause of this. I do not think that the government cause  many negative things that affect the price of bitcoins, these things happen normally.

[Zaguru12]

Banks and Government doesn’t have any major Bitcoin holding for them to dump the price. The real culprit here are those people who panic sell as well as those whale traders that taking profit.

Logically, they have actually do insight the hype or the fear of losing out which is picked up by investors. Imagine government giving out strict regulations concerning bitcoin or probably against exchanges. When news like this are been spread, newbies to bitcoin or people that do not have proper knowledge about it will panic and supposedly sell, so we can just simply say it is the government policies that are actually causing this panics

The current dip is not a major concern since we experience worst than that with a valid reason for dump while the current dump is just due to speculation wothout any solid proof that it’s the real cause. This dump will not happened if everyone will just hold since the government can’t dump the price because they don’t hold the majority of the Bitcoin supply.

Yeah last year ending with the news of bankruptcy we witnessed a bitcoin low of $16k. So this one is nothing just yet although we don’t know where it will stop but it was expected. There is always a dip like this whenever it is few months or like a year to halving according to the past trend so maybe we can place this on that category too.

But this current dip is probably incited by the fact that WSJ reported that SpaceX sold there bitcoin holdings worth above $300m but that isn’t the case there are no concrete evidence about this just speculations since Tesla sold there’s last and both companies are associated with one another. Another is the fact that green light has been given by Sec for ETF features for ETH. Also probably the Evergrand bankruptcy filing also could be part of it

[Fortify]

Here is what I was thinking about the current situation of the market. I know I am going to talk about BTC but somehow things will be moving toward governments so I thought this section would be good to make this post. It's based on my assumptions and could be proved right if one is able to provide some tools to back my assumptions with stats.

The market was dumped due to 5 reasons, which are as follows:

• SpaceX sold BTC unofficially means there is still some confusion about it but they need not answer us that either they have sold or not because it is an open market.
• The surge in high-interest rates.
• High increment in Bond yeild
• ETH ETF just got a green light after this dump ETH went around $1500 which provided BTC whales a chance to collect some ETH too because this greenlight of ETF will take ETH to new heights.
• Devalutaion of Chinese Yuan

Source

The thing is, I think the government tried to manipulate the market like first they increased the interest rates recently just before this dump like a few days ago and after that, there was an increase in Yield bonds means more people are giving their money to Governemnts in exchange of getting a fixed return and they are for sure. And banks are now giving the same money back to those who are in need now after this dump for example those who wanted to take some entry and those who lost all of it because according to analysis the liquidation amount that was gone in this dump was more than the one liquidated in FTX. (source). The point is the same governments are now giving that money borrowed from other people to the needy ones with huge interest rates and I think if that's the case then interest rates will increase more.

Plus a few days back I also heard the Chinese Yuan was losing its value and the Netherlands was going into stage inflation and such news is just to put more pressure on holders and traders of BTC. Which it really did. Now those who have lost everything will turn towards banks for borrowing money and that money will have more interest rates on them means the borrowers have to pay more interest rates.

It's a win-win from all angles for banks and governments. Now the question is, how did they manage to make it work if they are really behind it. Or I might be wrong here because every picture has different stories for each viewer of it so what are your stories about this situation? Is it real or manipulated to fill bags? Not to mention why did SpaceX sell those amounts of BTC when they don't have to? We all know that Elon is a person of money who always follow the money and how he would sell the reaming amount of BTC which is all SpaceX has according to the wall street journal.

Trying to predict the fluctuations in bitcoin is a bit like trying to predict the wind. You might be able to take an educated guess at some of the motivations behind the move, but the mass market movements taking place can often snowball by themselves, if people see a lot of profit taking then they are more inclined to join in before it slips away to zero or even negative equity. The stock markets around the world are dipping at the moment, and it's a big shock to see the biggest property companies in China currently struggling - they are a leading indicator that something is going very wrong in the Chinese economy right now and they are essentially the factory of the world.

[ololajulo]

I anticipated a discussion about the recent forum post, but I'm doubtful about the accuracy of most replies. I believe experienced traders should anticipate price corrections to assess and gauge market trends. Another correction might occur, and the strategy for large investors would likely remain consistent.