The market will give you lemons.
Yesterday's selloff is currently one of the most significant dips I have witnessed in this crypto cycle.
I believe it was even larger than what we saw with FTX, aside from the fact that it is reflected in the price. This appears to be a significant contributing factor, with a rogue exchange owner defrauding people of their money.
From Japan to Warren Buffett and the stock market, the Middle Eastern crises, the global recession, and the market doing its thing
All of these events play a role in the current dip. Not long ago, it was the Germans and Mt. Gox, and since it is still 2024, all of these events are playing a role. This is not limited to cryptocurrency; the average investor may be reconsidering cash as the better asset at the moment because it is the only thing that is not currently declining, I mean...
Hypothetically.
The market may simply be declining as expected, but the global events that are causing some of these dips are extremely concerning. The world economy is in a dire situation, and crypto is mostly where you'll get the memo before other assets. The good news is that nowhere is stable, so no anti-crypto noob will demonize crypto.
However, as everything falls apart, even the most hopeful are terrified. I saw a particular influencer discuss how he sold some of his assets to pay the bills, when he could have sold that portion in April or May and still be comfortably holding at this time.
This is one thing about (us) people. We usually use greed psychology thing, but sometimes it backfires. Historically, there have been dips after the halving, and some of the most comfortable times to sell were actually before the halving, but this guy most likely didn't, and now he is panic selling 5 months later, when he could have done so comfortably a few months ago.
People constantly seek quotes to justify their market actions rather than abandoning sentiments and focusing on what truly matters. However, no one is immune to this. Most people make these mistakes every cycle, and when there is such a massive shake-up, people start making post-apocalyptic decisions as if the world is ending.
The people who are always talking about buying the dip, like the super investors they call themselves, are not talking about it anymore. The truth is that when the market shakes, it takes a lot of actors down with it, but it does not take everyone up with it.
At this point, everyone is free to practice their own politics.
This is where fiat-minded people are laughing, because now is the best time to avoid investing in any assets. (Historically it's actually the best time)
However, this is the current state of the market. The world is currently sick and attempting to recover. There are just too many things going on, and a few wealthy individuals are attempting to manipulate the market, both stock and cryptocurrency. We are in a state where big players can control the market however they want, as evidenced by the recent influx of ETFs into cryptocurrency.
On the bright side.
These kinds of things happen. I said a few days ago that we might see BTC at 58k soon, and boom! Here we are, and even more.
Although I was not expecting a sharp and sudden liquidation, I suspected it would not happen slowly; unfortunately, it happened quickly, in the dead of night, when many people were off for the night. So this is the current situation; other actors may or may not be involved. We do not know. However, it appears that more liquidations may occur as a result of global financial uncertainty.
There is simply too much instability to believe that everything will stabilize quickly, so other events may be just waiting to happen, especially since September still has its own Pandora's box for us to open.
Currently, no one can predict what will happen in global commerce and finance in the coming weeks; everything you read in the coming days and weeks will be speculation. Nobody knows when the market will decide to heal itself, because this is when the positive snowball effect will begin to take place.
Stay strapped in.
People are quick to predict the end of the world when everything happens; it is how the mind reacts to so many bad things happening at once. Eventually this too shall pass, it'll pass in it's time, and we're still on course.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Posted Using InLeo Alpha
Congratulations @josediccus! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 670000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
Big institutions and players bring bigger problems, world is in a flux, hedging against that creates tsunami effect.
After covid impacted the world earnings many moved to blockchain as hopeful future, give it time have not hit the bottom. Many bad players in every sphere of life.
Ironically we clamored for big players. We want legality and institutionalism. Maybe we actually don't need this. Maybe crypto truly doesn't need big players as they're prone to want to manipulate things. You're spot on
Here in Africa many still prefer cash, or trade and barter over digital, be it bank cards or crypto too many swindlers everywhere.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
The truth is that when the market shakes, it takes a lot of actors down with it, but it does not take everyone up with it. that's it friend, it the cruel part of the system.
As for market manipulation, you can't beat big time investors. It's something I keep telling my friends.
A truly testing period
I’ve not seen anyone who has shouted buy the dip since morning😁😁
At this stage, my fingers are crossed and for those who want to buy crypto, now is the time
Well, this crash caught everyone by surprise
👏 Keep Up the good work on Hive ♦️ 👏
❤️ @nkemakonam89 suggested sagarkothari88 to upvote your post ❤️
@nkemakonam89 thanks
Even as hive keep dipping, I am holding my hbd so strong for my needs instead of buying dip, Because I don't understand this whole crypto stuff again...my other alt are just sinking sand. I am staying away from opening my crypto wallet to keep my sanity before almost all my investments are gone
Will market heal again? Finger crossed
BTC and other alts did similar dips in 2020 and 2021 still happened. So I think 2025 will eventually happen just like 2021 did. The market will heal, but then, periods like this are insane for the mental health.
I see...
Buy the dip..
Aye aye
This is what happens when you let complete newbie outsiders into the world of crypto, they all have a heart attack when things drop more than 10% and we just laugh it off because it's nothing new to us. We've been here before several times.
The overall world markets are in complete shambles and things are going to get very, very ugly. It's a shame, but years of greed inevitably lead to where we are right now. Hopefully we see a turnaround soon, I hated seeing BTC at $50K again!
!hiqvote
Hehe, what can we say, the ones who are inexperienced eventually learns the hard way how the market works, unfortunately they'll basically make a lot of mistakes before they eventually learn how it works.
I also hate how the market is at the moment, seeing the market being pummeled wasn't what anyone actually expected, but then it's what it is. No one's knows if we've actually seen the bottom.
True, the worst may be yet to come....
@thebighigg, the HiQ Smart Bot has recognized your request (2/3) and will start the voting trail.
In addition, @josediccus gets !PIMP from @hiq.redaktion.
For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻
I also didn't expect it to be a sharp drop relatively quickly, I think it caught many people off guard but it kind of seems to reflect the general happenings of the economy, things are not looking so bright on many aspects. Now, what we can do is just wait it out and not make any impulsive decisions.
At the moment, I don't think anyone can categorically point out to what's actually wrong with the market. I just think there's no predicting the market again, I just think everyone should hope for the best..
The market goes up and down. The global market has been in sick for a long time. Life is getting harder and they can only prop things up for so long. I do think it will bounce back eventually but that takes time.
Well, let's see how it goes, the dip of yesterday really escalated quickly if you ask me..