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Author Topic: Why was bitcoin dumping a few days ago?  (Read 3195 times)

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Why was bitcoin dumping a few days ago?
« on: October 12, 2021, 10:08:40 PM »
We all live in the cryptocurrency market.  But a few days ago we saw that the price of Bitcoin has dropped a lot in the cryptocurrency market.  I do not know the reason for the dumping.  So if you know, please say below.  I hope you will say a little.

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Why was bitcoin dumping a few days ago?
« on: October 12, 2021, 10:08:40 PM »

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Offline TomPluz

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Re: Why was bitcoin dumping a few days ago?
« Reply #1 on: October 13, 2021, 12:27:10 PM »
As what I read somewhere, the biggest reason is that Bitcoin failed to rally beyond $58,000 and in most cases it can mean that it will really have to slide...gathering the necessary strength for a fresh drive to go beyond the barrier. Now, some are saying that it was because Binance decided to block China-based traders - though I don't have confirmation on this one. Well, anyway, Bitcoin has the habit of moving up and moving down for no reason at all...so what happened is not a big surprise at all.

Offline Lanirex

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Re: Why was bitcoin dumping a few days ago?
« Reply #2 on: October 13, 2021, 05:18:06 PM »
That's Cryptocurrency, price changes often occur without us expecting it. Bitcoin is expected to be pumping but suddenly dumping, It is true what the friend said above that the dumping of Bitcoin prices some time ago was due to FUD from China, namely when China banned all Cryptocurrency transactions. But now that we've seen the price of Bitcoin go through a big pump, I think it's time for us to smile.

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Re: Why was bitcoin dumping a few days ago?
« Reply #3 on: October 13, 2021, 05:22:23 PM »
The price of Bitcoin dropped a lot a few days ago. However, the price of Bitcoin has started rising again. So the price of Bitcoin will break the previous record. Bitcoin is expected to show new surprises in the current world. So it will be more popular all over the world. Prices will increase much more than before. So there is no reason to worry about the price of Bitcoin, it will return to the previous position very soon.

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Re: Why was bitcoin dumping a few days ago?
« Reply #4 on: October 14, 2021, 09:15:17 AM »
If you look at the market now, the price of Bitcoin is not declining but is pumping.The current price of Bitcoin is57,715$.Even a few months ago, the price of this bitcoin fell below 40 thousand.But the market recovery from there has now reached over 50,000$. From here we all hope that maybe very soon Bitcoin will touch 70k$ and touch other new milestones.

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Re: Why was bitcoin dumping a few days ago?
« Reply #5 on: October 14, 2021, 10:13:02 AM »
Bitcoin prices The price of all coins, including Bitcoin, began to fall due to the release of China's Ban News a few days ago. But the market has improved again. Bitcoin prices and other coins have started rising again. So investing should continue without expressing frustration. Because the market situation is likely to be much better than before.

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Re: Why was bitcoin dumping a few days ago?
« Reply #6 on: October 14, 2021, 10:26:01 AM »
It's just normal when the price of bitcoin is dumping it's because people sold their bitcoins, they already made profit so expect bitcoin to go down after the pump of the price. Don't worry bitcoin will increase back again because people will buy more bitcoin at cheap price.

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Re: Why was bitcoin dumping a few days ago?
« Reply #6 on: October 14, 2021, 10:26:01 AM »


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Re: Why was bitcoin dumping a few days ago?
« Reply #7 on: October 14, 2021, 01:22:51 PM »
You can't expect the Bitcoin market to keep going without price correction. Some persons are there in the market to take profits at any point in the market most especially when the market is approaching a major resistance level @58k in week take frame. Bitcoin will keep having a major rejection in this area until is able to break that resistance level in the week time frame.
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Re: Why was bitcoin dumping a few days ago?
« Reply #8 on: October 14, 2021, 01:27:46 PM »
We all live in the cryptocurrency market.  But a few days ago we saw that the price of Bitcoin has dropped a lot in the cryptocurrency market.  I do not know the reason for the dumping.  So if you know, please say below.  I hope you will say a little.

There are several fudders, I think It's the reason why bitcoin price was dumped.
But It's just FUD , bitcoin is going strong again now
Current bitcoin price is 58K $.
altcoins also already go strong.
So, I think It's the time to pump.
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Re: Why was bitcoin dumping a few days ago?
« Reply #9 on: October 14, 2021, 03:32:54 PM »
Since you are involved with cryptocurrency, you must be aware that the market is never static. Right now you can see the good and bad sides of the market. Maybe then the amount of investment in the market was less. But if you look at the Bitcoin market now, you must have noticed how much the price of Bitcoin has increased.
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Re: Why was bitcoin dumping a few days ago?
« Reply #10 on: October 15, 2021, 11:47:30 PM »
The dump in Bitcoin can be caused by the whales, they want to buy at a very cheap price. Now, Bitcoin is increasing very significantly, the whales may start planing to sell their Bitcoin. So, be careful of the possibility of the next dump in Bitcoin price. Who knows that some whales take profits first by selling some of their Bitcoin to the market. If it happens, there are too many supplies in the market, then the Bitcoin price decreases.

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Re: Why was bitcoin dumping a few days ago?
« Reply #11 on: October 16, 2021, 06:15:42 AM »
We all but one thing we always notice in the cryptocurrency market That is, the prices of cryptocurrency market coins are constantly pumping and dumping.I think this is the rule of the cryptocurrency market when the price of a coin goes down and the price of that coin starts going up again.Now the price of Bitcoin is rising tremendously. Today I saw in coinmarketcap that the price of bitcoin has been 61,704$. The price of Bitcoin is rising in this way because Bitcoin is the largest and has the highest total supply and circulating supply.

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Re: Why was bitcoin dumping a few days ago?
« Reply #12 on: October 16, 2021, 05:11:02 PM »
I personally think bitcoin is often dumped because of them the whales want to make a profit withdrawal and make a little correction because if it doesn't then the whales can't make a profit, they can play the price and when FUD occurs they will try to influence traders by making the price fell temporarily.

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Re: Why was bitcoin dumping a few days ago?
« Reply #13 on: October 16, 2021, 05:37:14 PM »
We see at certain times of each year the value of bitcoins dumping much more. I still don't understand the reason behind this dumping. However, at the present time, the market for Bitcoin has started to grow again. Already but the market for bitcoin has been pumping a lot. I think Bitcoin will break all its past records within this year.
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Re: Why was bitcoin dumping a few days ago?
« Reply #14 on: October 17, 2021, 02:35:10 PM »
A few days ago the price of Bitcoin dumped a lot because Bitcoin was banded in China which caused its price to go down. However, at present the price of Bitcoin has increased by a huge amount. I think the price of Bitcoin will increase even more in the future. Currently the price of Bitcoin has gone above $60K. However, in a few days, the price of Bitcoin will exceed $100k.

 

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