Were Banks and Governments behind this Dump?

[_BlackStar]

I believe institutional investors played a role in the recent dump events than governments.
Governments can create bad FUD through regulation - but institutional investors can simply dispose of all holdings only after they want to profit from their investment.

Whales and regulation could be an excuse - but either one of the two has played a big role in recent dumps. Maybe this could be considered an accident - but I believe in the end it can't be completely avoided because bitcoins are freely traded.

[yhiaali3]

First, I don't expect SpaceX to have sold its Bitcoin holdings, or perhaps they did, but earlier, because it doesn't make sense to sell at a loss.

Secondly, I do not rule out the theory that governments, especially the United States government, are behind everything that happened. Governments have a long history of manipulation in secret, out of sight and without leaving behind any clear evidence.

Governments have manipulation but they do not have results, in the sense that they plan something and get something different, for example every time they manipulate the market to break Bitcoin, but Bitcoin comes out stronger every time and investor confidence increases, you can look at what is happening now as everyone considers this decline a new opportunity to buy.

[Wend]

I don't want to believe in any conspiracy, I think the volatility is still okay. based on my experience, bitcoin is always like this, very unpredictable and at the end it will amaze us. I think we don't need to worry about bitcoin whether it price will fall again or not. I prefer like to believe that btc will gain more and more adoption, so the price will tend to rise.

Your thinking is simple but it is true, but people always want to complicate things to prove that they are brilliant. We all know bitcoin is volatile and unpredictable, so why do we always find excuses to blame when bitcoin is volatile? And what problem will that solve for us? Instead, we should take advantage of the opportunity to buy because we all want profits and profits only come when buying low and selling high. I also think that this is just a market movement.

[Latviand]

The regulations is the root cause for the dump in bitcoin price, when the government illegal the cryptocurrency the investment in that country will be very low.It automatic reduce in the flow of bitcoin in that country, it will affect the total demand of the bitcoin and further reduce the overall price of bitcoin.The government of countries which made bitcoin as illegal had huge impact in the demand of bitcoin in the market.Sometimes bank doesn’t allow the transaction of cryptocurrency and also manipulation in the market.

A lot of country has done that over the years so I don't necessarily agree that the dump in prices is because the government is regulating bitcoin, pretty sure SEC considered bitcoin a while as an asset and not a currency like other crypto so how can regulation be the problem when SEC is on bitcoin's side? If it did made an impact, how come bitcoin's still able to survive to this day? When the regulations in bitcoin tightens, it will just make it increase in demand because people will be paying more to get their hands on it.

Regarding the recent dump, I don't think that the government is in any way involved in this, the economy has been crashing even before the price have dumped so it's not them, it's probably just SpaceX and we are just overthinking and overanalyzing things, I'd say we just let this day go by and move on, it's a good time to buy now if you ask me.

[Smack That Ace]

First, I don't expect SpaceX to have sold its Bitcoin holdings, or perhaps they did, but earlier, because it doesn't make sense to sell at a loss.

Secondly, I do not rule out the theory that governments, especially the United States government, are behind everything that happened. Governments have a long history of manipulation in secret, out of sight and without leaving behind any clear evidence.

Governments have manipulation but they do not have results, in the sense that they plan something and get something different, for example every time they manipulate the market to break Bitcoin, but Bitcoin comes out stronger every time and investor confidence increases, you can look at what is happening now as everyone considers this decline a new opportunity to buy.

As far as I know, they have actually sold those bitcoins since Q1 of this year, but I don't think they are selling at a loss because we don't know at what price they bought bitcoins.
Anything can happen, so it cannot be ruled out that the government behind is manipulating the market. But my question, what benefit do they have in manipulating the market? And what proof is there that they have failed to manipulate the market? Even ordinary sharks can easily manipulate the market, and if the government really wants to manipulate it things are much worse than just a 10% drop.

[serjent05]

I don't want to believe in any conspiracy, I think the volatility is still okay. based on my experience, bitcoin is always like this, very unpredictable and at the end it will amaze us. I think we don't need to worry about bitcoin whether it price will fall again or not. I prefer like to believe that btc will gain more and more adoption, so the price will tend to rise.

Your thinking is simple but it is true, but people always want to complicate things to prove that they are brilliant. We all know bitcoin is volatile and unpredictable, so why do we always find excuses to blame when bitcoin is volatile? And what problem will that solve for us? Instead, we should take advantage of the opportunity to buy because we all want profits and profits only come when buying low and selling high. I also think that this is just a market movement.

Inquiring and knowing the truth behind the dump is very important.  This will ensure the holders about the economic position of Bitcoin whether it is being abandoned, being manipulated or being shorted.  Knowing this factor gives a trader and investors an advantage over the people who is just thinking that this is a normal occurrence and accepting anything on the table without inquiring the real cause of the dump.

It is true that during the dump it is an opportunity to buy but if we apply this idea to FTX and Terra Luna, we could have lost a lot because thinking that the dump is an opportunity to buy, the dump of the given two crypto never recover from its crash.  So it is always better to know the reason behind the dump.  It is not being brilliant but being responsible for the investment made.

I do not think that Bank and the Government have something to do with this crash.  I think it is connected to current events like the strengthening of the Dollar, the shorting of traders, and the manipulation of certain groups through releasing and recycling news to create FUD in the market are the few factors that affect the current dump of BTC.

[bayu7adi]

I believe institutional investors played a role in the recent dump events than governments.
Governments can create bad FUD through regulation - but institutional investors can simply dispose of all holdings only after they want to profit from their investment.

Whales and regulation could be an excuse - but either one of the two has played a big role in recent dumps. Maybe this could be considered an accident - but I believe in the end it can't be completely avoided because bitcoins are freely traded.

This makes sense, but unfortunately, we as retail Bitcoin buyers can't definitively grasp the underlying truth. I'm quite convinced that the cunning maneuvers of a collective or individual play a role in every juncture, whether it's a bearish or bullish phase.

Currently, placing trust in a project's fundamental aspects and utilizing them for long-term investment holds greater significance than relying on candlestick patterns that can be manipulated by the ultra-wealthy.

[Faisal2202]

The summary of this reason is FUD promoted by some crypto actors. This is not the first time Elon Musk is selling his bitcoin and ETH application is for features and not spots. And SEC didn't give any formal announcement that it will be approved. This news came from unverified sources that claim to be insiders.

Agreed and thanks for some correction because I did not knew that the news of SEC is also unofficial but still things started to make sense when we talk about domino effect. But other than these fundamental factors there were technical factors included too. Like there was liquidity factors. Less demand and more supply factor. Plus another factor to back your and other member's statements about Elon being innocent is:

If he only sold 350+ million dollars then in the early few minutes the market already lost that much capital what happen after that like after many hours if we see at map we can see market lost more than that volume and once the volume is gone there is more supply thus price dropped.

[Adbitco]

I think the one that is mostly affecting the market could be that of SpaceX, the rate at which the dump come really shake the market and it was so sudden and shocking, which is now reacting negatively to the mind of investors and traders (fear). This may possibly last for the entire month of August and if time not taken we may also witness same effects in the month of September, most of the investors are being too skeptical about the market because of uncertainty at this point they are playing a smart game by securing their investment either trying to sell or setting a stop lose for them to secure their asset from going down more imo.

[blockman]

There is some info that the Space X impact isn't that much and it's made look like they're the reason for this dump to make it look how strong they are. But as the factor being listed on the OP, it's most likely the banks and interest rates that have been the main reason on this one. It is intriguing and confusing when you don't follow the market and only relies to the news that are coming out to the media and they're making it buzzier and noisy to assume that everyone will believe what they say. So they feed those reasons even if they just made the slightest impact and tries to hide the actual starter.

[Pamadar]

The summary of this reason is FUD promoted by some crypto actors. This is not the first time Elon Musk is selling his bitcoin and ETH application is for features and not spots. And SEC didn't give any formal announcement that it will be approved. This news came from unverified sources that claim to be insiders.

Agreed and thanks for some correction because I did not knew that the news of SEC is also unofficial but still things started to make sense when we talk about domino effect. But other than these fundamental factors there were technical factors included too. Like there was liquidity factors. Less demand and more supply factor. Plus another factor to back your and other member's statements about Elon being innocent is:

If he only sold 350+ million dollars then in the early few minutes the market already lost that much capital what happen after that like after many hours if we see at map we can see market lost more than that volume and once the volume is gone there is more supply thus price dropped.

There are traders and investors who got shaken by this dump and with fear inside they follow the direction and quickly liquidate their assets, always have domino effects just like what you mentioned.

In terms of Elon Musk, maybe there are still people who continue to follow him and trying to ride with what he's
doing, so-called insiders might leak something that may favor those people behind this movement and in the end
they will still go to earn decently.

[Sayeds56]

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.

Your skillful articulation of an insightful analysis, focused on distinguishing the legitimacy of the recent cryptocurrencies dip, is truly commendable. Whether this decline is real or deliberately manipulated by international players, I perceive this downturn as a promising opportunity to acquire Bitcoin and Ethereum at more favorable rates.

[slapper]

Years ago, conspiracy theorists claimed that the government controls the market for their profit. Let me clarify: I agree with your opinion. However, your case requires more than a few random SpaceX, interest rate, and Chinese Yuan connections. SpaceX reportedly sold BTC? As a private company, they don't have to disclose their finances. Rising interest rates affect the market, but so does a Brazilian butterfly pounding its wings. Combining this with the supposed editing is guesswork.

Proving such harsh claims against banks and governments requires proof. More than gossip and "my friend told me". Let's do some investigation and gain some confirmation before posting such intricate concepts. The cryptocurrency ecosystem, including BTC, is dangerous, therefore the ETH ETF's approval is no surprise. The situation can change with one single decision. But is this market manipulation or just market behavior? You were right; each photo tells a different tale to each viewer. My tale? The market reacts to several things. Be cautious when assigning blame or making assumptions. Please step back and discover more reliable sources

[someone703]

...
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.

First of all, I personally look at the current economic problem which is inherently not good, although there are also many improvements compared to the previous period, however the problems appear differently from the banking system, government, storm, ... are showing imbalance.

And the fact that this crypto market is volatile is something that I think many people who are exposed to it know, we are excited to see the price of BTC increase rapidly because of the news that large institutions suggest in favor of the crypto market BTC, and vice versa in the current context, I have learned about the cause and most people are targeting Elon Musk and Tesla as a target to cause panic, it is obvious that the plan to sell BTC is already in Q1 2023 , so the panic here is not because there was some sudden sell off, the price dropped then news I'm not a pro but I've seen this happen not only with the crypto market (one excuse to reduce), and at the same time, a large China real estate corporation has also reported bankruptcy, so everyone can understand the economic story is very bad, and crypto is no exception.

[Texac]

 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.

I'm digressing a bit with what you're saying, but I want to ask you 1 thing.  are you greedy for money, and are you after money?  are you entering this market not for profit but to support the bitcoin revolution without any profit? if you are also money hungry then don't call any investor greedy.  don't just blame or criticize Elon or anyone because once they enter the market, they are investors just like us.  Whether they sell or buy bitcoin is no different than us so don't try to criticize anyone when the market goes down.

[khiholangkang]

 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.

I'm digressing a bit with what you're saying, but I want to ask you 1 thing.  are you greedy for money, and are you after money?  are you entering this market not for profit but to support the bitcoin revolution without any profit? if you are also money hungry then don't call any investor greedy.  don't just blame or criticize Elon or anyone because once they enter the market, they are investors just like us.  Whether they sell or buy bitcoin is no different than us so don't try to criticize anyone when the market goes down.

I agree with what you said, we don't need to think negatively about them, because we invest in bitcoin also expect the same in terms of the benefits that bitcoin provides, as well as them in general as investors.
What Elon did was naturally done because indeed he kept his money in bitcoin for certain circumstances, like now, the point is don't blame fellow investors, even though we know that this dump indicator was caused by that.
But it should also be remembered that there are some who deliberately make it go down, for example the government that distributes FUD, or the government that gets bitcoins from confiscation for crimes and then they sell them intended to suppress bitcoins not to attract other people.

[Faisal2202]

Your skillful articulation of an insightful analysis, focused on distinguishing the legitimacy of the recent cryptocurrencies dip, is truly commendable. Whether this decline is real or deliberately manipulated by international players, I perceive this downturn as a promising opportunity to acquire Bitcoin and Ethereum at more favorable rates.

Thanks for your kind words dear, really appreciate it but to be honest I am still learning and trying to be good enough to analyze the market using TA and FA and I hope you remembered your advice of one YT channel to me I am also trying to learn from that but by sharing my ideas here on the forum many other people have shared there valuable insights which already correcting me and some are agreed with me. Well, thanks again.

[justdimin]

I don't want to believe in any conspiracy, I think the volatility is still okay. based on my experience, bitcoin is always like this, very unpredictable and at the end it will amaze us. I think we don't need to worry about bitcoin whether it price will fall again or not. I prefer like to believe that btc will gain more and more adoption, so the price will tend to rise.

Your thinking is simple but it is true, but people always want to complicate things to prove that they are brilliant. We all know bitcoin is volatile and unpredictable, so why do we always find excuses to blame when bitcoin is volatile? And what problem will that solve for us? Instead, we should take advantage of the opportunity to buy because we all want profits and profits only come when buying low and selling high. I also think that this is just a market movement.

There are two types of people in the crypto world, one type thinks that making money is easy simple as seeing a "tip" from some twitter influencer and buying it and getting rich, which we all know that it is not possible and it would be a miracle if you could ever do that.

The other type is making it so complicated because they think it is not going to be simple to make money from it. To make it simple, if you buy 10 thousand dollars worth of bitcoin right now, when bitcoin becomes 1 million dollars, that would be 400 thousand dollars. When would it be 1 million dollars? Maybe in 2 years, maybe in 5, maybe in 10, but it will get there and there is nothing else that can turn your 10k into 400k at the same time as bitcoin can.

[Cookdata]

First, I don't expect SpaceX to have sold its Bitcoin holdings, or perhaps they did, but earlier, because it doesn't make sense to sell at a loss.

Secondly, I do not rule out the theory that governments, especially the United States government, are behind everything that happened. Governments have a long history of manipulation in secret, out of sight and without leaving behind any clear evidence.

Governments have manipulation but they do not have results, in the sense that they plan something and get something different, for example every time they manipulate the market to break Bitcoin, but Bitcoin comes out stronger every time and investor confidence increases, you can look at what is happening now as everyone considers this decline a new opportunity to buy.

Space X has been proactive in selling their BTC before the Media, the last one they did, they sold before making the announcement in their first quarter of 2023 and the announcement did a lot of damage, so people don't want to sit and let that happen again, everything surrounding them is now more of speculation, nobody knows and Elon has not made any positive words or green light if they still hold or not just like the way they did back then before acquiring Twitter(X) for liquidity.

In the current state of the bitcoin market, we have more market makers and traders than holders which is why, anytime there is FUD, the price use to falls because they will certainly reduce their long position to mitigate an uncertain loss especially when they are not sure about what is causing the FUD. The government can manipulate bitcoin price though, where there is power, expect the worst from such because they can do and undo. Who knows if they decide to pressure institutional institutions to sell their bitcoin.

[Faisal2202]

I think the one that is mostly affecting the market could be that of SpaceX, the rate at which the dump come really shake the market and it was so sudden and shocking, which is now reacting negatively to the mind of investors and traders (fear). This may possibly last for the entire month of August and if time not taken we may also witness same effects in the month of September, most of the investors are being too skeptical about the market because of uncertainty at this point they are playing a smart game by securing their investment either trying to sell or setting a stop lose for them to secure their asset from going down more imo.

You have got a legit point here mate. But I wish this downfall will not continue till next month but I do agree that many investors are still thinking that there is more time to buy as they think market will lose more value by market I mean BTC. As I have a friend who is new in crypto still think that market will come down.

I can not think of any other factor other than the one you mentioned. That people are making assumption on the same sentiments that market and manipulators wants them to make. But I hope market will regain its value again and soon.