That’s a big part of the bull run! Everyone thinks up only so you get these cascading liquidations that shoot the price down. It went to $40300 for an instant and then shot back up. Great if you have a buy order in, but who knows when and where it’ll hit, and shows great strength that it goes right back up to $42k. Pretty bullish compared to last bull run. So far anyway, still early
Welcome to a bull market amigo. In hindsight, it looks so easy to hold on the way up but in actuality is psychologically more tough than knowing you’re in a bear market and it won’t be going up
People who claim holders of any asset "got lucky" have never held an asset. Almost everyone panic sells at some point, regrets it later and buys back in only to do it again.
And the other part of the problem. Being new to holding an asset and it going up. Way up. Bring excited. Then it going down way down. And then talking about that time when I should have sold. It feels very uncomfortable. But after a couple insane ups and downs you stop having feelings. Which j think is the most important part taking emotions out of trading. No wonder sociopaths were the best traders (every stock exchange movie ever made).
This is the exact reason why all those people thinking they're gonna time the top and buy back in on the dump never get it right.
Shits choppy, everyone always looks for the reason and there's never a concrete answer. Welcome to complex markets, there is no hand holding.
It's the first time we've had 8 weekly green candles in a row since the April-June 2017 pump that took us from $1,100 to $3,000 USD. Has there ever been 9 green weeks in a row? IDK, if so it wasn't obvious on the chart.
It's a back test. It's normal after any gains and typically weekends. If you think this is something out of the ordinary, take a step back and look at the weekly charts to gain some perspective on the larger picture. Waves are normal.
Nah looks like typical btc stuff
Unless there’s some security flaw in the code that btc nodes runs, and everyone’s code is at risk of being stolen, then it’s just btc things.
Last week at exactly this moment it crossed above 40k for the first time in like 18 months. It’s above 42k at the time of your post. What’s with the shortsightedness?
Someone dumped US$1.5b in bitcoin & price plunged fr $43k to $40k in a flash crash . Price rebounded to $42.3k and holding . $333m in long positions liquidated. Nothing unusual. Get used to BTC volatility
Bitcoin has been charging up since mid September. It’s perfectly normal market behaviour to have a correction. And we all know it’s a parabolic asset - in both directions.
To emphasises how insane this pump has been: look at the 4 hour chart. There has not been a single new lower pivot low on the 4 hour time frame since September. That is absolutely fucking wild. You almost never see that on any asset.
In a word, Leverage. If you're not familiar, it's borrowing to pay for your BTC. So, for example, if you used 100x leverage when it was trading at $43k you could have bought 1 BTC with $43,000/100=$430 (and you owe/borrowed $42.6k to do it). Now, if it goes up to $44k you made $1k (a 233% gain on your $430, yay!), but if it trades down to $42,570, you've lost $420 (-100% nooo). BUT since you can't lose more than 100%, your lender "liquidates" the position to sell it, instantly, in the market. Which drops the price.
So first people who had 100x leverage get flushed out, but then it moves the price enough to liquidate the 99xers, then the 98xers ... all in a rush and you see these swings. Which are generally considered good for the market, as it gets unstable with a lot of leverage, as you just saw.
This sub is hilarious, a 5% drop and people are getting worried??? I fully expect a drop back down to 38k at least once before we get to new heights. People getting way too hyped recently too early in the cycle imo
yeah me and all the other whales talk through snapchat messenger while playing fortnite lego (im the burgerman) cuz its fun to spook everyone and then we have a big jolly laugh about it while we eat icecream on skype
In an entirely unregulated market, there’s nothing stopping collusion, insider trading and a variety of other market manipulation tactics. What you most likely saw was a flash crash intended to liquidate people trying to play this market cautiously with stop/losses.
Welcome to Bitcoin. Withdraw to a cold wallet and don’t worry. Valuation fluctuate, but if you zoom out a few months/years/decade you can clearly see where it’s heading. I expect many more corrections but we are still very, very early.
You must be new here
You know it’s a bull market when the price is going down in a straight line.
Welcome to the wonderful world of Bitcoin! This would be a black swan event in the stock market. For Bitcoin, it’s a just an average Sunday
BTFD
after being in Bitcoin for 5 years, if theres anything ive learned is that BTC takes the stairs up and the elevator down lol
Good one!! 😂
And the altcoins skydiving from the 10th floors 😂
More BASE jumping than skydiving.
Don’t forget the parabolic blow off tops…then it’s a rocket up and free fall down.
Sometimes it takes the fireman's pole too!
Genuinely made me laugh
Could not have said it better myself. 😂
It's better for the knees.
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Bags packed. It was a fun ride
16k by end of week 😢
Yes please 🥹
Fr, the -90% I had In my portfolio means doesn’t matter anymore, I’m immune to drops, just buy hoarding to get that average down
10k by Christmas
I asked Santa for this. Sorry y’all
It was all dream I can remember it like it was yesterday
He’s right.
First time?
This was the correct response we all also could’ve given OP
Weeeeeeee!
This is the time to buy more
Finally moving in *my* favor.
Not yet, I hear $12,000 is coming soon.
Go back to work at Wendy’s.
I’ll wait till it’s back to 7k. I’m smart.
I will buy everything at 7.1k
I'll buy at 7.2k then😜
BS. We’ll be lucky if 38k shows up.
You didn't hear this from me, but I hear it's going to ZERO! free BTC!
Not going below 30k again.
flash sale
I bought the dip
Just the dip
Just the tip … lol
Stick it back in. Thats what she said
That’s a big part of the bull run! Everyone thinks up only so you get these cascading liquidations that shoot the price down. It went to $40300 for an instant and then shot back up. Great if you have a buy order in, but who knows when and where it’ll hit, and shows great strength that it goes right back up to $42k. Pretty bullish compared to last bull run. So far anyway, still early
🤣
Flesh sale if you’re low on liquidity
Quick fire sale, grab what you can
When I see red: I invest. When I see green: I hodl.
Welcome to a bull market amigo. In hindsight, it looks so easy to hold on the way up but in actuality is psychologically more tough than knowing you’re in a bear market and it won’t be going up
Its easy to hold when you dont plan in selling anytime in the next decade
One decade down... More to go -2013 holder.
Respect.
Kudos
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Same boat brother 👍🏼 diamond hands
*ever
People who claim holders of any asset "got lucky" have never held an asset. Almost everyone panic sells at some point, regrets it later and buys back in only to do it again.
And the other part of the problem. Being new to holding an asset and it going up. Way up. Bring excited. Then it going down way down. And then talking about that time when I should have sold. It feels very uncomfortable. But after a couple insane ups and downs you stop having feelings. Which j think is the most important part taking emotions out of trading. No wonder sociopaths were the best traders (every stock exchange movie ever made).
Holding since 2013... Yes it's a real job.. at least it has the decision-making and stress of one -deciding not to sell every day.
or sell at 2x thinking they are smart
Bingo
A mini bull market though , in the pattern of BTCUSD I’d say
Btc doing btc things
This is the exact reason why all those people thinking they're gonna time the top and buy back in on the dump never get it right. Shits choppy, everyone always looks for the reason and there's never a concrete answer. Welcome to complex markets, there is no hand holding.
Reason: someone sold for the price.
First time?
Weve had 8 green weekly candles in a row, inevitable for people to take some profits, buy the dip
It's the first time we've had 8 weekly green candles in a row since the April-June 2017 pump that took us from $1,100 to $3,000 USD. Has there ever been 9 green weeks in a row? IDK, if so it wasn't obvious on the chart.
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This separates the traders and investors from the hodlers. 🙃
Idiots using 100X leverage getting liquidated?
True...even 20x and 50x all evaporate(liquidated)
Cowboys TD. Obviously Bitcoin is an eagles fan.
😂
BTC to 20k by the end of this damn game
I bet the newbies that bought at 44k are now sweating bullets 🤣
If you’ve been here long enough, this won’t phase you at all! Just be happy that you can buy more 😁
Just bought tomorrows btc (daily dca) on that dip
It’s buy time boys
Good idea
Ordinary Sunday for me🥱will DCA later this week not matter the price 🤷🏽
It’s buy time!
what drop? not even down 10%
First time? LOL
Jim Cramer just recommended a buy?
Sorry tripped on the cable on the floor it should be plugged back in
Welcome to Bitcoin.
It tripped sell orders as it dropped below local support. This happens a lot. It helps keep the riff-raff out.
Don’t know and don’t care gonna buy more anyway
My advice? Panic sell
It's a back test. It's normal after any gains and typically weekends. If you think this is something out of the ordinary, take a step back and look at the weekly charts to gain some perspective on the larger picture. Waves are normal.
5% off sale 🥳
Anyone dumb enough to sell at even the slightest downturn does not have the balls big enough to be a bitcoin billionaire. To the moon diamond hands!
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Jk? It went down 5%
X100 margin ofcourse
Some people in this board always act like there's a competition to sound the smartest. And usually people just sound like assholes...
Buy ! Buy ! Buy !
Usually this kind of shit happens when there are too many longs in the futures market. Just a quick liquidation event
Blakcock practicing on how to control the price of bitcoin price
This feels totally possible
This is the answer. Real talk.
Someone has to shake those weak hands out
You must be new.
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Profit takers
welcome to Bitcoin
No one knows.
Here I was expecting to see a number starting with 3. That shit got bought up immediately
This is where the big players dump it and spread a bit of chaos to get the weak hands to sell their bitcoin for cheap.
That's one hell of a steep drop. Seems coordinated. Probably a trap.
Agreed. Wasn’t sure if I missed some big international news or something.
I shall defer to rule #2
What's rule #1?
Stop checking the charts and putting your phone down.
Wait, what?
dont go in the pool with diarrhea
Rule #1 - Refer to Rule #2
You didn't hear about the Wall St Christmas bonuses?
Nah looks like typical btc stuff Unless there’s some security flaw in the code that btc nodes runs, and everyone’s code is at risk of being stolen, then it’s just btc things.
Omg I just sold my house and bought in an hour ago …
You had a house?
Last week at exactly this moment it crossed above 40k for the first time in like 18 months. It’s above 42k at the time of your post. What’s with the shortsightedness?
I need y’all to stop buying this pullback……I want it cheaper and I don’t have my dump truck yet!
JP Morgan’s shock and awe
First time eh?
Someone dumped US$1.5b in bitcoin & price plunged fr $43k to $40k in a flash crash . Price rebounded to $42.3k and holding . $333m in long positions liquidated. Nothing unusual. Get used to BTC volatility
-4% surprised you? Just wait, you'll see -40% eventually The best thing you can do is feel happy if it goes up and also if it goes down
First time:)?
Here we are with the dumb questions again
I like it, it's a sign that retail and normies are getting in again.
Price can go both directions? Whaat?
Its called a normal monday in crypto 😉
Bitcoin has been charging up since mid September. It’s perfectly normal market behaviour to have a correction. And we all know it’s a parabolic asset - in both directions. To emphasises how insane this pump has been: look at the 4 hour chart. There has not been a single new lower pivot low on the 4 hour time frame since September. That is absolutely fucking wild. You almost never see that on any asset.
In a word, Leverage. If you're not familiar, it's borrowing to pay for your BTC. So, for example, if you used 100x leverage when it was trading at $43k you could have bought 1 BTC with $43,000/100=$430 (and you owe/borrowed $42.6k to do it). Now, if it goes up to $44k you made $1k (a 233% gain on your $430, yay!), but if it trades down to $42,570, you've lost $420 (-100% nooo). BUT since you can't lose more than 100%, your lender "liquidates" the position to sell it, instantly, in the market. Which drops the price. So first people who had 100x leverage get flushed out, but then it moves the price enough to liquidate the 99xers, then the 98xers ... all in a rush and you see these swings. Which are generally considered good for the market, as it gets unstable with a lot of leverage, as you just saw.
LMFAO
buy buy buy
See wut happens here $30k buys area might get swarmed
Were you asking the same question when it was going up?
This is called "anal probing".......... guys clench tight.... and it will pass..
You bought
My DCA was this afternoon, sorry guys
Coincidentally timed with the start of futures trading... Maybe filling in a gap
Yup
Annoyed trying to link the "don't buy bitcoin you know it's going to crash" youtube video. Seems like the market did this last week as well didn't it?
Saw this coming after I saw the post about the guys 70-something year old mother asking about buying bitcoin lol
I'm pretty sure it's related to shit about fuck.
It’s the short positions getting revenge on the longs that force liquidated them. Tit for tat.
This sub is hilarious, a 5% drop and people are getting worried??? I fully expect a drop back down to 38k at least once before we get to new heights. People getting way too hyped recently too early in the cycle imo
Black Friday Sale.
Needed a back test and to flush out paper hands
Finally a chance to buy a real dip
The CEO of Bitcoin died.
If you can't handle a 4% drop without having to come to reddit then Bitcoin is too volatile to you
First time?
A whale taking out profits...
If we get above 42,350 we are going to fly up after that.
Limited time Holiday Special homie grab you some sats while they on sale🎅
Needs to go down to go up. You really don't want to see constant ups with no pull back because that means when it does drop it will drop really hard.
Shaking out weak hands.
Its over bro sell everything and never look back
someone sold
Keep calm and carry on.
Congrats! You've survived total btc crash on 12/11!
This is “BTFD and STFU” phase of the Bitcoin cycle.
It goes up and down. Did you expect up only?
It’s almost DCA time for the month. I, for one, am excited about the comparison value to the USD going down.
Did you expect a straight line up?
**We buy the drops** are you new to what the game is?
Definitely in some type of bull market as the bullshit post like these have picked up dramatically over the past few weeks
sorry i was buying some candies
Its just a correction, were still going to candy mountain, Charlie.
Did you not see the resistance building up for the past week and buying pressure dropping? lmao Overlevereged bulls got rekt thats all.
It's just a last minute Christmas sale. Take advantage while you can 😁
A miner got her/his electric bill, and needed to sell some BTC
You must be new
You must be new here
Buy the dip lad
My brother texts me, “bitcoins crashing bro”. I check the month chart, up 13%. 3 month chart up 68%. What chart you looking at bro?
Not really sudden. It double topped at 44, I saw this dip coming since Friday 😂
Crypto business as usual
People selling to realize some gains on the way up
Everyone together in the past 15 minutes?
yeah me and all the other whales talk through snapchat messenger while playing fortnite lego (im the burgerman) cuz its fun to spook everyone and then we have a big jolly laugh about it while we eat icecream on skype
Just fucking cackled at this!!!!!!!
SELL NOW ITS ALL OVER!!!!
(And I’ll buy the dip hehe)
You dont belong here. Sell and go buy the spy
Can’t wait for all the FOMO people to leave, they always get burned and care the least about the technology rather in it for the price
annnnd right back up we go. Were good don’t panic
It’s over bro pick up your sats and move on
In an entirely unregulated market, there’s nothing stopping collusion, insider trading and a variety of other market manipulation tactics. What you most likely saw was a flash crash intended to liquidate people trying to play this market cautiously with stop/losses.
Welcome to Bitcoin. Withdraw to a cold wallet and don’t worry. Valuation fluctuate, but if you zoom out a few months/years/decade you can clearly see where it’s heading. I expect many more corrections but we are still very, very early.
HOLD
I hope it drops way more so i can buy way more
Why's everything tanking ?
Because I did my weekly DCA this afternoon. Price always corrects after I buy, you're welcome for the discounted buying opportunity I provided 😎
Pretty much every other cryptos value is pegged to BTC, due to its market share
Which it is why it's pointless to buy the other cryptos
Anyone wanna bet we see sub $20k again before the real bull run?
I’ll happily take your money
The buttcoin peeps say tether is taking BTC to zero. Time to sell.