So, why the hell crypto is dumping now?

UrbanSnake

UrbanSnake

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Everybody was optimistic about crypto until yesterday, what happened? What is the specific reason for this dump from $101k to $93k again?

I'm still bullish, but what happened? Is this because of Trump opening his dirty mouth to say shit yesterday? Don't want to discuss politics shit here, but it's the only thing that I read recently that may explain it, but I'm not very well informed, what happened??
 
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Well, market demand :p

I bought some "unstable coins" due to the hype and I am at loss too.. But I am not investing money that I need. I am investing long term and I don't care really. I am gonna keep that investment for the next 5 years and see where I get.

This applies not only for crypto, but for any high risk investment like stocks, or lower risk ones like housing and so on. Just make sure you are not investing in the derivative markets, because those are basically scams unless you are a "well versed scammer".

Don't invest to get rich quick. Invest to grow with the market, and be sure to diversify.
 
I think we should not focus on the issue in the short term. I saw in a news article that a man bought 30 USD worth of BTC every day for 8 years and his earnings were astounding.
 
Mister Ghost said:
The world realised crypto is imaginary money, so there all selling up and buying stocks in costco. It's the future I've heard.
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Yes we want them to buy the imaginary money so we can get real money from them by dumping the imaginary money :)
 
Mister Ghost said:
The world realised crypto is imaginary money, so there all selling up and buying stocks in costco. It's the future I've heard.
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I agree, but these are mostly the millenials. IMHO crypto is still great for diversifying your investment portfolio.

I would just consider crypto as a volatile asset that can grow up to infinity or become zero. For lower risk, I wouldn't really follow a "hype" group. I will just go to coinmarketcap and only invest in the top 10.

I think crypto gets a bad rep for these get rich quick people lol. It is volatile yes, but it can give you insane gains, too. Just don't gamble lol.
 
1 Bitcoin costs $93,000 US dollars and people get scared. Look at the chart going back 5 years. Does anyone even know how markets work?

Just wait for the bear market to come and for the price to go below $60K again. People will lose their minds
 
joseph15 said:
1 Bitcoin costs $93,000 US dollars and people get scared. Look at the chart going back 5 years. Does anyone even know how markets work?

Just wait for the bear market to come and for the price to go below $60K again. People will lose their minds
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Just want to know what happened in the last 24h, I didn't sell anything and still bullish, I just don't understand what happened in the last few hours
 
In a serious note, I guess this is the last little dump before a major pump. It seems just a whale manipulation to buy coins for a better price before the massive pump that will start in the next two weeks
 
Don't worry, the market and billionaire people who controll this shit is not concerned about the ''risk'' of America starting a war against Canada and they simply don't care about the well-being of the Panamanian people, this is just a manipulation game to earn as much as possible from this bull-run
 
UrbanSnake said:
Everybody was optimistic about crypto until yesterday, what happened? What is the specific reason for this dump from $101k to $93k again?

I'm still bullish, but what happened? Is this because of Trump opening his dirty mouth to say shit yesterday? Don't want to discuss politics shit here, but it's the only thing that I read recently that may explain it, but I'm not very well informed, what happened??
Click to expand...
Sorry, I sold yesterday and today my btc to buy eth soon. If I knew it would drop this much, I’d have told you first.
 
It drops so we can buy the dip.

Actually, that is fairly normal in that this is a volatile asset that even a sneeze on X by the right person is going to cause it to go one way or another.
 
UrbanSnake said:
Just want to know what happened in the last 24h, I didn't sell anything and still bullish, I just don't understand what happened in the last few hours
Click to expand...

There's not always an explanation for every move up or down, stocks are down too currently. Especially in crypto these movements +/- 10% are very typical. It may have something to do with world events, but the point is that it doesn't really matter.

1 year ago the price was $46,000, even a dip down to $80,000 and the gains would still be considered astronomical compared to other asset classes.
 
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