Beginning of the Dumping Market?

[Learn Bitcoin]

Interesting news: "Bitcoin briefly dipped below $9000 on BitMEX (spot) yesterday."

Are you sure that it was the real BTC/USDT pair or was it something else? I have seen such things before, and they happened due to pegged BTC on other chains and a low supply of Bitcoin. I don't think anyone sold at 9K, as everyone knows the market price. Or maybe it was traded on other pairs or the supply was too low.

I do not know any other possible reason why BTC would dump to 9K. Or it is possible that someone placed a sell order accidentally and their order created that spike. I am sure that was for less than one minutes or so.

[dwyane36]

Interesting news: "Bitcoin briefly dipped below $9000 on BitMEX (spot) yesterday."

Unfortunately, such things happen from time to time on centralized exchanges. I assume it is either a technical error or there is not enough liquidity on this exchange. In any case, if this happens, the exchange should compensate those users who suffered any losses due to such abnormal movements on the chart.

[ScamViruS]

Interesting news: "Bitcoin briefly dipped below $9000 on BitMEX (spot) yesterday."

Unfortunately, such things happen from time to time on centralized exchanges. I assume it is either a technical error or there is not enough liquidity on this exchange. In any case, if this happens, the exchange should compensate those users who suffered any losses due to such abnormal movements on the chart.

A trader tried to sell 400 bitcoins and the price went down so much it could be due to a liquidity crunch or a technical glitch. The Bitmex exchange may have developed a liquidity crunch, otherwise the price would not have gone this dip. Many traders must have faced losses due to sudden price plunges like this. Now it remains to be seen how the Bitmex exchange handles the situation after the investigation, whether they will compensate the affected traders or not.

[Aanuoluwatofunmi]

We should accept for the introduction of the dumping to the market price as this earlier, we are still nothing lesser to $63,000 after which we already tasted the bullrun to all time high of $73,800 or so, for now, we are seeing this on either as plan to engage the market more on the event to mark the halving and its more profitable that we hold on and buy more, we are still under the bull season and not done yet.

[vegasus]

Interesting news: "Bitcoin briefly dipped below $9000 on BitMEX (spot) yesterday."

Are you sure that it was the real BTC/USDT pair or was it something else? I have seen such things before, and they happened due to pegged BTC on other chains and a low supply of Bitcoin. I don't think anyone sold at 9K, as everyone knows the market price. Or maybe it was traded on other pairs or the supply was too low.

I was also quite surprised by this news and then looked for the source. And here it is, it's true mentioned about this related news:

Late Monday, bitcoin (BTC) suffered a brief crash to as low as $8,900 on cryptocurrency exchange BitMEX, while prices on other exchanges held well above $60,000.

Source: https://www.coindesk.com/markets/2024/03/19/bitcoin-flash-crashed-to-89k-on-bitmex/

This unusual thing happened when BTC prices in other markets were still high. And there aren't many of them either. So, they are still investigating that unusual activity. Because, the market is in normal condition and there are no system errors. So, it is still in the investigation process to find out the cause and why this is happening.

Meanwhile, on the other hand, when we see this norm in the coin market cap, the price of $9k at that time is not included in the normal chart. So the lowest price is still not at $9k.
https://coinmarketcap.com/currencies/bitcoin/

[Power420]

The Bitcoin market has returned from a dumping ground to a rising one. Bitcoin recovered from $73K dollar to $61K dollar and then to $67K dollar. So you can see here if Bitcoin could be held with some accumulated money then it would have been possible to make huge profits in the present time. So Bitcoin investment is definitely needed to keep yourself calm and again the possibility of Bitcoin price to improve further is very high.

[Rubel007]

We should accept for the introduction of the dumping to the market price as this earlier, we are still nothing lesser to $63,000 after which we already tasted the bullrun to all time high of $73,800 or so, for now, we are seeing this on either as plan to engage the market more on the event to mark the halving and its more profitable that we hold on and buy more, we are still under the bull season and not done yet.

We may see some dumping moments in the market as the market is breaking previous all time high. We have seen the market value of Bitcoin from $73k to $62k in the last few days. It is expected to move back to the bullish side gradually. But it cannot be called dumping. The market will quickly recover and the price of Bitcoin will once again be on the upswing. Since this bull run has only just begun and Halving is still some time away, it is best to hold as much as possible during this period. Bitcoin is predicted to form a new ATH and head for a bull run. Instead of getting excited for a small temporary correction, how to control your emotions in the market and survive in the market is now the main issue.

[Learn Bitcoin]

This unusual thing happened when BTC prices in other markets were still high. And there aren't many of them either. So, they are still investigating that unusual activity. Because, the market is in normal condition and there are no system errors. So, it is still in the investigation process to find out the cause and why this is happening.

I have heard that at least 400 Bitcoins were sold in the $8.9K range. But the source is not any media. I saw it from a Facebook group but didn't bother to check the source because I was in bed at that time. I don't think they need to investigate it to understand how it happened. It's possible that a whale tried to place an order at $89K and accidentally put the order at $8.9K, and that was sold immediately. Don't you guys think it's possible? I think it's very much possible, and that was what happened in this case.

Back to the main topic. Bitcoin started pumping again. It was about 68K but the current price is 66.5K. So, I guess the correction is almost done.

[Wiseman]

We may see some dumping moments in the market as the market is breaking previous all time high. We have seen the market value of Bitcoin from $73k to $62k in the last few days. It is expected to move back to the bullish side gradually. But it cannot be called dumping. The market will quickly recover and the price of Bitcoin will once again be on the upswing. Since this bull run has only just begun and Halving is still some time away, it is best to hold as much as possible during this period. Bitcoin is predicted to form a new ATH and head for a bull run. Instead of getting excited for a small temporary correction, how to control your emotions in the market and survive in the market is now the main issue.

If you noticed, but now there are memes about the rise and fall of cryptocurrencies where the bear has been given horns like a bull))) this suggests that the market is becoming much more cunning than before and there will be more and more such crazy speculative falls.

[EthereumDev_]

The Bitcoin market has returned from a dumping ground to a rising one. Bitcoin recovered from $73K dollar to $61K dollar and then to $67K dollar. So you can see here if Bitcoin could be held with some accumulated money then it would have been possible to make huge profits in the present time. So Bitcoin investment is definitely needed to keep yourself calm and again the possibility of Bitcoin price to improve further is very high.

Bitcoin price movements will always be like that, sometimes the price is very high and sometimes the price collapses, this is what makes investors like Bitcoin because it has unstable price movements and can be used to make a profit.

[joe1]

The Bitcoin market has returned from a dumping ground to a rising one. Bitcoin recovered from $73K dollar to $61K dollar and then to $67K dollar. So you can see here if Bitcoin could be held with some accumulated money then it would have been possible to make huge profits in the present time. So Bitcoin investment is definitely needed to keep yourself calm and again the possibility of Bitcoin price to improve further is very high.

Bitcoin price movements will always be like that, sometimes the price is very high and sometimes the price collapses, this is what makes investors like Bitcoin because it has unstable price movements and can be used to make a profit.

That's the added value of Bitcoin, why many investors like it, because Bitcoin is unpredictable and it's always profitable to hold it if you buy when it's low and always hold until the bullish season. Maybe after being bullish next year, I will buy btcoin when bearish 2026.

[dwyane36]

Back to the main topic. Bitcoin started pumping again. It was about 68K but the current price is 66.5K. So, I guess the correction is almost done.

Personally, I doubt that the correction will end so quickly because that BTC price drop to $61k could have been only the beginning of the correction. I assume the market might follow one of these two scenarios soon: either there will be consolidation in the range from $61k to $73k or there will be further correction up to $52k.

[Baofeng]

Back to the main topic. Bitcoin started pumping again. It was about 68K but the current price is 66.5K. So, I guess the correction is almost done.

Personally, I doubt that the correction will end so quickly because that BTC price drop to $61k could have been only the beginning of the correction. I assume the market might follow one of these two scenarios soon: either there will be consolidation in the range from $61k to $73k or there will be further correction up to $52k.

It's up already, trading around $66k-$67k, but we don't know if the dumping or the correction has stop or we might see the price going on a sideways pattern after a a long time.

Not sure that $52k, I think there will be investors who will readily buy more bitcoin when it goes down below $60k. And that what could have happen anyways, $62k is low for them and so they fill up their bags pushing the price to the current levels that we see.

[Sunderland]

Back to the main topic. Bitcoin started pumping again. It was about 68K but the current price is 66.5K. So, I guess the correction is almost done.

Personally, I doubt that the correction will end so quickly because that BTC price drop to $61k could have been only the beginning of the correction. I assume the market might follow one of these two scenarios soon: either there will be consolidation in the range from $61k to $73k or there will be further correction up to $52k.

It's up already, trading around $66k-$67k, but we don't know if the dumping or the correction has stop or we might see the price going on a sideways pattern after a a long time.

Not sure that $52k, I think there will be investors who will readily buy more bitcoin when it goes down below $60k. And that what could have happen anyways, $62k is low for them and so they fill up their bags pushing the price to the current levels that we see.

I dont think the correction is done already, perhaps we are entering the "denial phase" now before the price drop below $60k.
Whales and big institutions might short before the halving and then pumping it again after halving.

[Charles-Tim]

Not sure that $52k, I think there will be investors who will readily buy more bitcoin when it goes down below $60k. And that what could have happen anyways, $62k is low for them and so they fill up their bags pushing the price to the current levels that we see.

Anything can happen. Bitcoin increased from $62000 to $68000 in just some hours. It decreased from $73800 to $60600 in just 3 days. If bitcoin get to $60000, there would be a strong support but I still think that bitcoin may decreased below $60000 if bitcoin decrease back to around that price and constantly hitting the support but which may not happen. Although, I am optimistic and I still think that bitcoin is going to $100000 in this 2024. So any fall is a blessing to buy more.