Crazy 48 hours

[Mission1379]

Since the mid term election 3 days ago, bitcoin has been reacting massively. It dumped to 75.6k but now recovering back gradually.

Incase you're wondering what happened?

The Democrats swept US Congress. You know what this means right? It creates political uncertainty and market naturally respond because it hates uncertainty. This is not about Trump.

Wallets linked to Trump media moved over 4k BTC. It's not confirmed whether they're selling or not but the timing matters. The media already said it might need to sell BTC to meet up with Noteholders cash demend later.

The market is yet to recover from $6.3B Binance hack and now the election drama triggered the bleeding.

Time to start buying the dip or wait a little?

[Die_empty]

Time to start buying the dip or wait a little?

Bitcoin is not the only asset that plunged. U.S. and Asian equity markets also experienced heavy pressure as tech and chipmaker stocks declined. The market has recovered from the effect of Binance hacks and the US mid term elections might also have a slight impact. I also think that Donald Trump's threat to attack Iran has also generated the fear of another major escalation that will further increase the price of crude. People are moving their assets out of high-risk assets because of economic and political uncertainties.

You don't have to wait with the expectation that the price will further decline. Use a DCA strategy to accumulate Bitcoin. It saves you the time you would spend analyzing the market. The best time to buy Bitcoin is when you can afford it. So keep accumulating if you have the money to invest.

[boyptc]

Since the mid term election 3 days ago, bitcoin has been reacting massively. It dumped to 75.6k but now recovering back gradually.

Incase you're wondering what happened?

The usual reaction of the markets after this mid term. I thought that it would sit to $80k but that's a quick correction there that pulled bitcoin to $75k.

The market is yet to recover from $6.3B Binance hack and now the election drama triggered the bleeding.

Time to start buying the dip or wait a little?

Binance hack and this election probably could do more damage but, let's take it easy from here and you do what you think is the right action.

Yeah, buy the dip and if you wait a little, make sure that you still have some left to stack.

[Bd officer]

Time to start buying the dip or wait a little?

Yes, the 6B+ hack and the US midterm elections in between are all affecting the Bitcoin market a bit. The market may be affected further in the future but it is not certain. So if you are planning to buy BTC, you should continue investing in the DCA strategy rather than waiting for a dip.
A local brother of mine was waiting for Bitcoin to drop further when it was $60k but unfortunately he has not been able to buy yet. So you should think carefully and make a decision.

[As-Soon-As]

Wallets linked to Trump media moved over 4k BTC. It's not confirmed whether they're selling or not but the timing matters. The media already said it might need to sell BTC to meet up with Noteholders cash demend later.
The market is yet to recover from $6.3B Binance hack and now the election drama triggered the bleeding.
Time to start buying the dip or wait a little?

In this current situation, the market is showing a very high decline and the price of Bitcoin has touched $75k, I don't know if the reason for this election and the shock of Binance hacking have still shaken Bitcoin, there may be many other reasons due to which the price of Bitcoin is now showing a sharp decline. However, Bitcoin holders should not panic at all after seeing the sharp decline, you can do Bitcoin more boldly and create holdings.
You should not wait to buy Bitcoin If you have money, you can buy Bitcoin, but it is better to keep it for a long time if you want to make more profit. Because Bitcoin investment in the long term is most profitable than short-term ones, so you should buy Bitcoin now during this decline.

[Dave1]

Wallets linked to Trump media moved over 4k BTC. It's not confirmed whether they're selling or not but the timing matters. The media already said it might need to sell BTC to meet up with Noteholders cash demend later.

The market is yet to recover from $6.3B Binance hack and now the election drama triggered the bleeding.

Time to start buying the dip or wait a little?

Ok, so this could be the news that scared investors away as the prices has bounce back to $80k already after the Binance hack and then suddenly go down to $75k in less than 24 hours. As for buying the dip, definitely, another great opportunity for us to go and scoop some specially for those who has capital to begin with.

But then again, we already have DCA method that removes all emotions, so for those who are using it, then perhaps they will just continue what they are doing best. It's that the market is very unstable again so every chance to buy, then we should go for it.

[pooya87]

Since the mid term election 3 days ago, bitcoin has been reacting massively. It dumped to 75.6k but now recovering back gradually.

Wrong.
Perhaps you are new to this market and are measuring it with other traditional ones. But if you look at bitcoin charts you'll realize that 5% fluctuations is the most common fluctuation in this market and it is not considered "massive" and 5% drop is not considered "dump" nor does 5% rise considered "pump".

The Democrats swept US Congress. You know what this means right? It creates political uncertainty and market naturally respond because it hates uncertainty.

In other words nothing has changed.
In case you missed it, the world entered a period of increasing uncertainty ever since 2022 when NATO started a proxy war with Russia.
Things are only getting worse and the messy situation inside the US regime is only part of it.

Wallets linked to Trump media moved over 4k BTC.

I don't even know what that means but FYI in a market with roughly $50 billion daily trading volume, some entities (according to you) moving coins is a drop in the ocean.

Time to start buying the dip or wait a little?

This is not exactly a dip in the traditional sense, this is a sideways market so the drop is part of a "duo".
We had this between June 5 and August 21 this year and now we are having the same thing starting from ~August 22. This looks like an accumulation phase. Price goes up and down inside a fixed price range and tries the two upper and lower bounds until it breaks one.



This is roughly what happens in this type of trend (something I drew on the chart a year ago, in other words this trend is not new at all):


It becomes new and needs speculating if price breaks one of those bounds.
In this case if it goes lower than $75k we can call it a "dump" and analyze where it will head next.
Or ... if it goes above $85k then we can call it a "pump" and analyze where it will go next.

Until then enjoy the small profits in the short term if you are a day trader, otherwise DCA and HODL.

[EarnOnVictor]

-snip-
Time to start buying the dip or wait a little?

Is there any dip lately that is worth considering buying? I doubt that. I believe the reasonable deep should be around $65,000, but Bitcoin never moved so significantly away from the current levels since it attempted to rise months back. Also, what caused the falling were complex than the election alone. Fine, it contributed, but many micro/macroeconomics events added to it.

[hugeblack]

Surprisingly, the price did not drop sharply; following the Binance hack, one might have expected it to fall below $72,000. Since it did not reach that level, the crisis can be considered over—at least for the time being. If the preceding events did not trigger a deep correction, then this current decline suggests that we may see a quick rebound.

[coinrifft]

-snip-
Time to start buying the dip or wait a little?

Is there any dip lately that is worth considering buying? I doubt that. I believe the reasonable deep should be around $65,000, but Bitcoin never moved so significantly away from the current levels since it attempted to rise months back. Also, what caused the falling were complex than the election alone. Fine, it contributed, but many micro/macroeconomics events added to it.

Perhaps what he meant is that the price goes to $80k then back to $75k. So that could be a big opportunity if majority considers it a dip. Yes, it might have been the mid term election results as Trump might not have total control of the US congress.

So that could be a big blow and then we have seen withdrawals as well from Trump crypto wallet. So that might have scared some investors pulling the price down in the last two days.

[GreatArkansas]

Since the mid term election 3 days ago, bitcoin has been reacting massively. It dumped to 75.6k but now recovering back gradually.

Incase you're wondering what happened?

The Democrats swept US Congress. You know what this means right? It creates political uncertainty and market naturally respond because it hates uncertainty. This is not about Trump.

Wallets linked to Trump media moved over 4k BTC. It's not confirmed whether they're selling or not but the timing matters. The media already said it might need to sell BTC to meet up with Noteholders cash demend later.

The market is yet to recover from $6.3B Binance hack and now the election drama triggered the bleeding.

Time to start buying the dip or wait a little?

To be honest, I already have buy orders waiting for these, anytime it will trigger already, these right now is my buying price especially if it will drop on $6x,xxx level. A move like 80k to 75k happens a lot on Bitcoin, so I just continue DCA instead of guessing if election news will push it lower again.

[New Judgement]

I’m not seeing the market as bad as you are making it sound. Bitcoin market didn’t respond badly even with the Binance hack. To me everything is fine with the way the market has responded so far with the election and all that has happened lately. If it were to be in the past, bitcoin would have dropped up to 20% or more. Higher bitcoin has been trading for the past few weeks was $82k -$83k. Looking at the current price, $75k is not much from that price that it should be considered as a major crash.

[Aliciaworld]

Someone texted me with the exact Same thought but they believe there's still more dipping to come in the coming months as we might be approaching the end of the best market. Buying the dip may be a good idea at this point but I personally think this ideology only benefits long term investors.

[DPHOR]

The market is yet to recover from $6.3B Binance hack and now the election drama triggered the bleeding.

Time to start buying the dip or wait a little?

I do not think you are giving out the right information here, and yes it’s true that $6.3 was hacked but literally only $3b because the rest was freeze and now they are only incurring a lost of only $3b. However, this doesn’t affect the entire blockchain or even compromised the bitcoin network, as the market didn’t reacts more on the binance hack ( just about 1-4% drop) which is nothing much compared to before when hack do happened. Tracing back history of FTX hack that was a serious blood bath in the entire crypto market.

Of course, anyone who has spare cash can start accumulation whenever the market seems not to be upwards that much, perhaps maybe there is serious dump that could lead the market to somewhere around $70-60k.

[Asiska02]

Crazy market, this is what we have always seen when the minority party takes over the leadership of the house with the president from the opposition party. There is uncertainty in the market as the Democrats have taken the majority seats in the senate house, this is a big challenge to the president as he doesn’t have the most influence in that house again.

The US politics has been linked big time with the market, so events like this will have effect on the market but I know it is just for the short term. The move of Bitcoin by the Trump Media has a lot to say about this, this is not just a coincidence but was influenced by that result. Binance hack and the midterm elections put together can affect the market immensely, this is what we are seeing happening to the market now whilst it recovers soon.