A coordinated sell off ❓

So when you try and look at the charts, the dramatic fall for almost all crypto,s happened in matter of 40 minutes and followed similar pattern, Try to look at the 1 minute candle,s !

I don’t think It’s retail, maybe whales, but which whales own all the coins in their portfolio and perhaps coordinate to sell them all at the exact same time.

This is what happened in may this year, according to an article.

❗️Investors are contemplating what next following the market correction, which saw Bitcoin drop as low as $29k.Many pin the events of yesterday on FUD, whether Elon FUD, China FUD, or OCC FUD. However, an “insider” on anonymous board 4Chan claims it was a coordinated attack by an unnamed firm connected to the Chinese government.Such claims, without a verifiable source, should be taken with a healthy dose of skepticism.

But the post was made 12 hours before markets dumped and did predict the sell-off.4Chan Insider Gave Fore WarningThis week, news broke of a renewed crackdown on Bitcoin and cryptocurrency by Chinese government agencies. A joint statement released by three industry bodies said financial institutions could not conduct business related to cryptocurrency.“The group specifically laid into the cryptocurrency’s market massive volatility, saying digital tokens have “no real support value” and prices that are “extremely easy” to manipulate.”Such stories have become commonplace. Therefore this was dismissed as irrelevant FUD. But, the 4Chan insider claims this was intended as a precursor to the coordinated sell-off that tanked markets yesterday.

“The purpose of today’s press release alongside all the FUD posting is to get BTC as low as it can get before 7am UCT.”As a side note, the sell-off occurred yesterday at around 13:00 GMT. Even though China geographically spans five different timezones, the country follows a single timezone called China Standard Time (CST), which is +8 hours on GMT/UTC. There is no timezone known as “UCT.”Things take a sinister turn when the insider explains the purpose of the sell-off was to attack a single stakeholder. Based on the information given, the details would appear to fit Elon Musk.“First there will be a coordinated sell-off to drop the prices below a certain threshold and liquidate one certain stakeholder (can’t outright say who he is but he bought a lot at the dip he was partly responsible for).Once liquidated, the plan is to buy up all of the reserves and essentially leave him bankrupted.”The post then ends with a near-term price prediction of $70k.What Next For Bitcoin?

The events of yesterday were a shock for many. While volatility is part and parcel of cryptocurrency, the speed and magnitude of the drop were extreme.From its recent all-time high of $64k, Bitcoin lost 54% of its value at the height of the sell-off. What’s more, it closed the day below the 200-day moving average (MA), indicating that bears now control the market, leading to dread of a return to crypto winter.

While today sees price trying to push back above the 200-day MA, the sentiment is reading extreme fear.RSI looks to be curling back upwards after hitting a low of 22.6. March 2020’s “corona-crash” was the last time RSI dipped to similar levels, bottoming around 14.6 at that time.Source: BTCUSDT on TradingView.comAlthough the insider claims a snapback is coming, it remains prudent to proceed with caution.

I am not a crypto veteran, and volatility is the norm in crypto market i have learned.

This is Not a conspiracy or anything, just a newbie trying to understand why would almost all the coins follow similar pattern in the exact same time period?

EDIT: had to correct the title and repost it, since people began attacking me and calling me names.

Thanks

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Did You Buy? Did You Sell? (during this crash)

Personally, I wasn't able to buy this time because I was sleeping. I woke up to find that the market was already in bloodbath. Or at least, that's what I think happened. If you bought, feel free to comment your crypto of choice.

I couldn't think of any single or main reason for this event. From the looks of it, it seemed like a controlled rocket crash, with a few factors I could think of:

- sell limit orders that were triggered automatically, cascading into effect once Bitcoin fell a certain threshold, further domino effect with the others

-the omicron threat

-the holiday season (although Im just speculating)

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TA is helpful but just NOT in a way you think

its true that bitcoin or any of the alt coins care about the stupid lines that you draw around their chart. the price is driven up an down by the real world events and factors and TA can only be right if things happen in the same way it has happen in the past IF there is no external factors involved in the market in the present situation.

HOWEVER keeping an eye on TA will help you get an idea of where people who follow the TA and do trading are likely to place their stop loss which contribute to big sell offs through domino effect and hence cause flash crashes like these.

i follow benjamin cowen on twitter and he was talking a lot about bitcoin holding the line at 52k, i set my stop limit at 52k and bought BTC back at 47k and now i wiill sell the BTC that i got for free and diverse it into the alt coins that are available on a huge discount.

To everyone who has joined within the last two years: all of these 'crypto fear index' posts are misleading

We are not in "extreme fear".

• The sub is still active.

• People are still jovially posting how they are 'buying the dip'.

• Bitcoin is still up on the 3 month and 6 month trends.

• The suicide hotline has not been stickied to the top of the sub.

For the benefit of those who haven't been around for the previous crashes and prologued contractions that the crypto market has been through, we're more in "moderate concern" at the moment - potentially driven by the Evergrade announcement yesterday, I won't be surprised if we see a wobble in equity markets on monday as well.

It CAN get worse.

And in all likelihood, it will get worse at some point in the future.

When it does:

• the sub will drop in active users.

• People will be posting about how they don't have any more money to buy the dip.

• The suicide hotline will be stickied.

• The sentiment will change to become overwhelmingly negative, and it will stay that way for months, possibly years.

I say this because this is what has happened during every significant retraction we have seen so far and History loves to repeat itself.

If you are panicked due to the events of the last 5-6 hours then take that as a sign that you have violated the age-old maxim of having invested more than you are willing to lose. Accept that in an exuberant market detached from fundamentals, DYOR'ing means next to nothing and that 'holding a diversified portfolio of multiple cryptocurrencies' is next to useless in terms of hedging against risk.

I'm a no coiner becoming a shitcoiner (coping and conceding)

First off, I would like to say that I'm a poor no-coiner, but I have nothing against any type of crypto.

Second, I don't want to discuss the moral/ideological/practical aspect of bitcoin or any crypto even though I find that some of the cryptos are useful for illegal purposes (monero for example)

And I do think that most of the Cryptos are dogshit, however, I admit that I was wrong about Bitcoin. At least from a financial perspective.

I was looking through some posts from 2018 on this Reddit, just a few examples:

https://www.reddit.com/r/Buttcoin/comments/9fjnmt/cryptocurrency_worst_investment_of_2018/https://www.reddit.com/r/Buttcoin/comments/achg8d/btc_lost_60_of_its_value_in_2018_but_is_much/https://www.reddit.com/r/Buttcoin/comments/a9ldqo/bitcoin_price_has_to_increase_1000_per_day_to/

And I'm baffled by the fact that some people that were posting in that period are still around with the same point of view.

Like everyone on this sub I didn't buy bitcoin when it was 3k because I thought it was done. When it reached 10k I also didn't buy it because I thought it was the last pump before the final dump. And let's be honest, even if I bought I probably would have sold it with some 5x or 10x gain.

So far bitcoin has rewarded the holders that had faith, not rationality, not criticism, just faith.

This year the last event that made me concede to crypto was the NFTs schemes, and I was also wrong.

I saw some posts talking about liquidity or how bitcoin just transfers money from one person to another. And while this may be true, we all know that this doesn't matter from an individual standpoint. With the liquidity levels of today, even if you're a billionaire with Bitcoin you can withdraw your money using bots with minimum price impact. And yes it did transfer from people who sold to people that hold.

I'll not buy Bitcoin anymore, at least not at this price level, maybe I'll be wrong again and society will become a cyberpunk dystopia and everyone will work for a few dogecoins while the trillionaires bitcoin holders will just keep holding. If another event like 2018 happens again, I will become a bitcoin eternal holder and shill, otherwise, I'll just occasionally buy some shitcoins/NFT projects with a small amount of my savings and see how it goes for me, since they have much more risk and growth potential than bitcoin (and also much more risk, buying shitty NFT projects right now is like buying bitcoin at 3k in 2018). If I don't die from a heart attack because of sleep deprivation I'll return in 5 years with my testimony.

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Also, I'm not a clueless investor, I would never allocate more than 10% of my portfolio into an asset ( and that's why I'll probably never get rich quick or go bust), especially a risky one like crypto. But 10x or 20x of 5% or 10% is enough to build substantial wealth over time.

Don't Panic. I repeat, DON'T PANIC.

I don't believe market pundits. I don't believe crypto vloggers. I don't believe almost anyone. I believe in Douglas Adams and the two most important words he wrote. Don't panic. And I'm going to tell you why. This isn't hopium. It's calm-the-fuck-down-ium.

As long as we can agree on this one basic thing, I think we'll agree on the rest. Cryptocurrencies have proven to be a long-term sustainable marketplace. I say this not only because of it's decade plus long ability to grow, but also because of it's now moving into government and large-scale business trades. There are going to be countless prop-ups and setbacks, as every market has.

Every market. Stocks are only one. Real estate, commodity trades, lending, antique/etc., every kind of market sees growth, setbacks, periods of uncertainty, periods of near-collapse, etc. Crypto isn't any different - and that's important. Because your opinions of macro-scale events in crypto will most likely be tempered by your outlook on investing in general.

The most obvious comparison is to the stock markets. Every one throughout time has been different, but the NYSE is a good example of how major events and differing periods have changed over time. And the cool thing is, we've got a good 200+ years of data to use. And on a macro scale - that's fucking enormous!

I totally stole this image. But it's a great representation of markets within the NYSE over it's entire existence. The one single thing that it has always done, is grow. It's got no reason not to.

https://www.visualcapitalist.com/200-years-u-s-stock-market-sectors/

Major events are pretty visible, the Civil War, the Depression, the dot/com boom, etc. (Check out the real estate pinch in '08). Point being - it's always changing. And this is just the markets within the market as a whole.

We don't have the best data for the 1800s. It exists, but I'm not going to pay for the good datasets. So I'm going to pick it up at the 1900s with the DJI.

https://stockcharts.com/freecharts/historical/marketindexes.html

Again, you can see all the major events pretty clearly. When you zoom out, the Depression was a correction. The 40's were slow recovery. The 50's were back on pace. The 60s were a boom. The 70s were a correction. The 80s and 90s were to the moon. And then the game changed entirely. And that's where we come in.

Since the early 2000s, market movements haven't been in decades (as seen above). They've been in years. And even more recently, they've been in months. There are a million reasons why, and I'm not here to argue about those - that's not for crypto. Crypto is just feeling the ripples of these movements. But knowing the context helps put crypto movements in a much better perspective.

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DJI 1990 - Present

The stock markets aren't flinging around pocket change anymore. We're on a fucking rocket. And we have been, since 2009. Everything took off in 90s. 1995 to be specific. And that bull trend didn't break, even with the war starting in the early 2000s, until midway through the '07-09 recession. Then, you can argue it however you want. Overcorrection? Probably, but we took the fuck off. And the only thing so far that has really stopped us hard has been the beginning of the pandemic. Recovery throughout the pandemic, at least in the markets, has been insane. In the last ten years, the beginning of Covid-19 is the only major market setback, and we already recovered. The recovery is the issue.

And now we find ourselves here.

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DJI 2019 - Present

These last two years have been crazy, right? Insane bull runs. Huge recovery. Didn't break trend until June '21. And now we've found ourselves (stock market-wise) in a consolidation period with some pretty strong support at 34000.

Now, if you ask me - and I know you didn't, the growth over 2019 was far more sustainable. We shoved everything at pandemic recovery and FUD. And we rebounded insanely fast. Like, too fast. You can argue the recovery from 2008 took too long at 5+ years, but you can't argue it didn't maintain it's growth. And then, IMO, the previous administration decided to play casino and the markets ran with it. And then, within a couple of years, it all caught back up with itself into some mild correction. And then the pandemic. And you can see the crazy fast recovery has tapered and left us kind of sitting around 35,000.

So, why the fuck does all this matter?

BECAUSE CRYPTO IS BRAND FUCKING NEW. You've spent a decade in crypto? Sweet, me too. You know what that means? Absolutely nothing. Because go take a look at the first chart again of market sectors. NOTHING IS EVERY STATIC. EVER. And crypto did something most markets can't pull off in their infancy, it created massive sub-markets that have continued to grow. Crypto isn't just BTC. It's blockchain. It's far bigger than just BTC, even though we'll use BTC as a metric for decades to come still.

The stock markets grew from finance, to mainstay transportation, energy, and a host of other major submarket sectors. Crypto has been doing the same, at an accelerated pace. From simple finance, to logistics, to defi, to web3, to now meta, and who the fuck knows what's next. Markets will never fail as long as one thing remains true - it's profitable. And they are.

This is what happens when crypto goes from being Bitcoin to being an entire market capable of sustaining multiple projects, multiple directions, and un-ending potential. You almost don't even need to change the titles on the first chart to believe it's what's happening to crypto. Diversification.

Here's my last chart, I swear. And it will hopefully put crypto into perspective. What has happened in the last two years. It's not 2013. It's not 2018. It's almost not even 2021 anymore.

I left time boxes on because it's pretty much the only way to identify the stock market exists.

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BTC MC v. DJI 2017 - Present

Don't panic.