The highlight of the article is this:
All in all, the development comes hours after traders reported preparing for a correction as the market's recent upward momentum slowed, and weeks after many had begun sounding the alarm that the market had become wildly divorced from fundamentals.
As such, speculation is high that this correction might only be the beginning of more declines.
What it really implies is that the market have long been overpriced and overbought and drop in price had been long coming. All the same, it is nothing uncommon to see market react in such manner. as a matter of fact, savvy traders have been waiting for a time like this, when coins become cheaper to buy again.
Probably right.
I don't know why everyone here is always in panic mode when there's a sudden fall in crypto currency.
Can we just calm down and always analyze the news.
Let's take it on the positive side, maybe it's the only way saying that this is great opportunity to buy btc in
lower price and profit a lot in the future.
People are just too much speculating without seeing the fact that this dump is really a normal thing, maybe they're worrying their money which still trapped in form of those coins which were dumped but actually it's not.
The circumstance is really different with few years ago that once the dump occur, people will sell their whole bitcoin in exchange of USD, today, when the dump just occur, people are seeing this as an opportunity to get a cheap coin and waiting for the upcoming price increase, you can see that the dump doesn't last long.
I also noticed that too. The crash is typically short lived now. Unlike before that when the panic selling starts, it usually go down very fast and stay for very long. But now, only just a couple days and it will just stopped and the price will also recovered very quick. I guess people find this a perfect opportunity to buy back bitcoin.