Reatim
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Wheel of Whales 🐳
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March 07, 2024, 11:41:37 AM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
you cannot keep stopping those people that wanted to make profit from their Holdings ad I believe that Correction is normal and you cannot call that Massive selling instead that is what we call profit taking. Ahh.. that has become a common thing and always happens in any form of investment. And when they invest, the price goes up, and there will always be people who sell to take a profit or sell their entire holdings because they made a big profit. And this also happens with Bitcoin and other cryptocurrencies, because everyone wants big profits when what they invest in is profitable because the price rises. The OP should understand this because this doesn't only happen with Bitcoin, so it's very common. because everyone has different plans and strategies, and there are also those who don't sell because they believe the price will be much higher. And without paying attention to the decline that occurs due to sales, and just believe that in the future the price will rise again or in the long term at a much higher price. And they will even use this moment to accumulate more Bitcoins and store them for the long term.
I must admit that i am guilty on that because i am one of those who sold some amount of my holdings when the price starts to fall at 67k but yeah I am lucky buying when the price starts rising up at 61k.
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Uhwuchukwu53
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★Bitvest.io★ Play Plinko or Invest
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March 07, 2024, 12:21:48 PM Merited by Btcdeybodi (1) |
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This effects is inevitable and can't be controlled by any body because it's one of the factor that make the system more interesting, as everyone has it purpose, needs and area of satisfaction, why holding weather long or short during bull run.
Every investment no matter how long or short it's purpose is for profit making, for me the selling during bull run and reinvest why on bear is not bad, though my point may not be hundred percent correct I stand to be corrected but this purpose are not to be evicted out in the system.
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btc78
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⭕ BitList.co
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March 07, 2024, 12:28:46 PM |
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This is normal in the crypto market and usually we can take advantage of such things. Usually it’s whales or individuals with huge holdings that make transactions that may appear as lots of people selling or pulling out their money which puts people into a panic making them sell their coins as well.
During this time, the price goes down and we can go in to buy more coins. It’s just going to rise up again anyway so it’s better to buy more during the lowered price.
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armanda90
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March 07, 2024, 12:45:28 PM |
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Massive withdrawal or selling bitcoin during raise higher price can't bring bad impact with bitcoin price will drop suddenly, its normal as trader or investors get massive for withdrawing or selling their bitcoin assets after price pumping and buy back later with correction moment. I don't think massive withdrawal or selling bitcoin can't bring bad impact with bitcoin price dropping drastically but FUD or bad news sharing become main problem make many people panic and sell bitcoin with lower price. Current bitcoin price not any fud although have massive withdrawal or selling bitcoin I think keep balance well bitcoin stable on higher price, between massive selling bitcoin get balance with massive invest or buy back bitcoin because many investors believing with bitcoin can get chance to raise more higher price.
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snowpega
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March 07, 2024, 12:56:29 PM |
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<snip>
We already have seen a correction after Bitcoin broke its last all-time high and I think the market has made of lower nearly $59k after making a new all-time high. Now I am not sure will Bitcoin make another correction after or before the halving event if it will happen I mean if we will see another correction in the market it will be a good buying and last buying zone for us to generate a good amount of profit and in my opinion we may see a big amount of money entering in the market which may make the market even more bullish. We are now in a greed zone where a lot of investors are booking some ratio of profit out of their holdings with the intention of buying back and for now they a waiting for a good correction if it happens I would call it a bit of good luck. DYOR!
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Jaycoinz
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March 07, 2024, 01:15:18 PM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
You already have the answer in your question. Why did so many people sell bitcoin when bitcoin reached $48k and then caused bitcoin to drop to $38k, but why was bitcoin able to reach $69k so people kept dumping to let bitcoin go down again? In just a short time bitcoin has increased from 48k$ to 69k$, doesn't that prove that bitcoin is rising? What else do you want from bitcoin? Want bitcoin to go from $69K to $1M without any drop or dumping? Obviously he knows why and I can see that he has already given the answer but some persons aren't as experience as others when it comes to the Bitcoin market and that's the reason most persons panic and sell off during any small pump of Bitcoin, while others that have witnessed such stage and phase before will just have to understand and adjust by buying more and moving their coins to non-custodial wallets for safe keeping so to avoid story that touches the heart.
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Ayers
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DGbet.fun - Crypto Sportsbook
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March 07, 2024, 01:30:48 PM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
But you left out one important thing OP, do you see bitcoin price still going higher every year? So, institutions and whales selling bitcoin in large quantities will only have a temporary impact on bitcoin, it will not cause any impact if we look at the long term. So instead of being afraid when the market dumps, you should take advantage of that opportunity to accumulate as much as possible. Just like you were afraid to buy bitcoin when it was priced at 48k$, I think you no longer have the opportunity to buy at that price, maybe in the near future you will have to buy at 60k$ or more.
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martinex
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March 07, 2024, 01:48:39 PM |
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You should know that it is not everybody that withdraws their bitcoin from exchanges, that are selling it. Some people are withdrawing to their noncustodial wallet to keep their bitcoin in their control, as the halving is close and the value of bitcoin is increasing , because it is expected that the halving will also skyrocket the price of bitcoin.
No matter how many bitcoin is sold per day, that will not stop bitcoin price from pumping, because it will only last for a short term. We saw after ETF was approved, and Mt. Gox sold a lot of bitcoin, but what happened later here we are in 65k, and the price reached 69k,before falling back to this price. We are in the bull market, and it will continue to be bullish, because bitcoin is designed that way. Bear and Bull
Only those who understand the potential and risks will do so so that their assets are safe and under control, but there are also those who mindset from the start just to trade and look for a small profit. I think that is exactly what you said above regarding the potential increase inthis asset prices where BTC will continue to rise even though if we look there is also more or less selling action from BTC holders on the exchange, this does not completely slow down its movement to rise even higher.
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GideonGono
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March 07, 2024, 01:50:49 PM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
Of course investors would take profit from their investment. There are only few who wouldn't do it and just continue to hold their crypto. The price pull back could be used as a chance to buy back at a lower price before it starts to climb up again, or create a panic for others to also sell their crypto.
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yudi09
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March 07, 2024, 01:52:11 PM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
That's not necessarily true, that's the reality in my opinion. When prices skyrocket, not everyone will do it to take a short profit. The question that will be asked if you think that whenever prices skyrocket there will be massive sales, what is the determination of increasing prices and decreasing prices? It doesn't seem so. This is part of the market activity process that occurs. From what you can see, not everyone sells when Bitcoin prices skyrocket. I mean, there's still holding.
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Jawhead999
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March 07, 2024, 01:58:42 PM |
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Isn't that good? it means there are many people wants to buy Bitcoin at $69K right? if they didn't want to buy Bitcoin at that rate, how can those people able to sold their coins? the problem occur if the buyers don't want to buy at $69K, so the sellers will need to sell cheaper in order to be filled ASAP.
Remember, when many people sold Bitcoin at $69K, it doesn't mean the price will keep declining and won't able to break $69K.
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Luzin
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March 07, 2024, 02:12:36 PM |
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Isn't that good? it means there are many people wants to buy Bitcoin at $69K right? if they didn't want to buy Bitcoin at that rate, how can those people able to sold their coins? the problem occur if the buyers don't want to buy at $69K, so the sellers will need to sell cheaper in order to be filled ASAP.
Everyone has a target, so I think selling at a certain price is also reasonable. In addition, we must remember that every time there is an increase, there will be a decrease. There will be a phase where buyers are saturated. So the strength of buyers is weak and a lot of sales flow. A frequent decline is the accumulation of buying power. I've had 2 halvings, there are always moments like this. It is likely that they are trying to suppress the market, to be able to buy again at low prices. So when there is a big drawdown, we should not panic. Execute the strategy that has become your initial plan.
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AicecreaME
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March 07, 2024, 02:17:18 PM |
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Every asset works that way, it can't be always pumping or the other way around.
It's normal if people are selling their Bitcoin when they are happy about the profit they made after a long time of hodling. What comes after is that they are just going to wait for a dump to happen before it bounce back again to make a new all time high price. Now, people are making sudden decisions because of FOMO, don't be like those people.
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Rruchi man
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March 07, 2024, 02:45:33 PM |
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Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
Do you expect people not to make withdrawals of their bitcoins just so that the value doesn't dip? You have to understand that investors set targets for themselves to take profit, and with increase in the value of Bitcoins, the target for some investors have been met. It would be impossible to control the withdrawal of bitcoins by investors whenever there is an increase in the value of bitcoins.
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Asuspawer09
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March 07, 2024, 02:59:58 PM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
That was pretty normal for sure since there are traders that are going to take profit in that market price and we can't really blame them because Bitcoin is still a risky market putting your money on it still going to take a huge risk, you cannot withdraw your money that easily if you are waiting for the right market price if the right market price hit it is always recommended to take profit if you can because it wasn't guaranteed that it is going to happen again right now, I mean if you think of it, it already takes years because even right the All time high market price again, if your not going to sell right now it might take years again before you could get another chance to sell at this level of the market price. The market is still a continuous cycle, the price could skyrocket, then traders that invest early might sell then there will be a pullback, a pullback is going to be an opportunity again for the last traders to reinvest their money, or for new traders to go in on the market, it's just going to be a huge cycle, but there are always going to be an opportunity to invest and make a profit.
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bettercrypto
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March 07, 2024, 03:19:34 PM |
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Anytime the price of Bitcoin skyrockets, there would be massive selling of Bitcoin and this practice(s) have always lead to the price of Bitcoin falling back afterwards. During the approval of spot Bitcoin ETFs, it was observed that the massive selling of Bitcoin when the price got to $48,000 made the price to fall to $38,000, it was after the corrections that the price began to soar higher again till now that it has set a new ATH of about $69,210 and immediately, massive selling and withdrawal of Bitcoin was also noticed.
Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
Maybe the others who sold their bitcoins are the holders who were not able to sell bitcoin when the ATH reached 69k in the previous time, way back in 2020. So they just took the profit, probably. Imagine how many years they waited just to get their profit. Or it is also possible that they have taken out their bitcoins from centralized exchanges and transferred them to non-custodial wallets or their hardware wallets, where they have control. This seems to be the only reason I can see.
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Yokkattannee
Jr. Member
Offline
Activity: 56
Merit: 22
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March 07, 2024, 03:48:44 PM Merited by fillippone (1) |
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I mean, that's how markets in general work? An asset's price pumps(bitcoin or not), some people will be taking profit, and the price is likely to have a correction after. What will make an asset's price more stable is mostly more market participants.
That's the way the market is, people will generally reap the benefits when the price of an asset jumps and I've noticed that most of them have prepared themselves from the beginning before the price of the asset actually jumps. If it is possible for someone to patiently wait for the right time, it may be very, very profitable for the results obtained.
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Cryptomultiplier
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March 07, 2024, 04:06:51 PM |
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Bitcoin is an investment coin and ones an investor thinks they have made enough profit, they are definitely at liberty to withdraw at their discretion. As long as they can pay the fees. For some, the halving might be a reason seeing that it is closely approaching, also, they may be considering diversifying their investment portfolio, hence why they perhaps withdraw their BTC so as to channel the profit into other investments they deem worthy.
Whatever be the reason for the massive withdrawal, one thing to note is that BTC is an investment coin, it is most profitable i for long term holders too, unless one intends to just own some crypto in a wallet that wouldn't increase or make some profit overtime that is too significant, they can go for stable coins like USDT.
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famososMuertos
Legendary
Offline
Activity: 1960
Merit: 3076
LE ☮︎ Halving es la purga
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March 07, 2024, 05:36:56 PM |
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I think it is a natural question of any asset, now certainly bitcoin is very different since it has continuity over time in its main actions to be followed by users, selling, buying and Hodl. Each of them exerts an influence in a certain period of time that influences the price, and fortunately this is the case, since having indefinite trends would only cause distortion that could not have corrections.
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CryptoHeadlineNews
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March 07, 2024, 05:53:53 PM |
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Wouldn't this continues practice of withdrawing and selling off whenever the price skyrockets going to slow the volatility of Bitcoin to continue skyrocketing? Since the price automatically starts experiencing a dip after every massive withdrawal.
First, Bitcoin wasn't meant to continue skyrocketing, but yet fluctuate due to it's volatile nature, which is why whenever it's price skyrocket very high, there will always be an equal or corresponding sell just to stabilize the market. Because this concept of mass selling whenever it's price skyrocket high is one phenomenon that can never be stopped, hence, the best we could always do is either practice the Dollar Cost Averaging method or just hodl.
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