what is behind the dump which is in progress last couple days ?
I know its volatility , but comparing to last couple months its quite bigger
Cheers
Weak hands selling off is one of the main factor on the multiple dump since yesterday. Since coinbase news didn't fully stop the bears yesterday, Weak hands are now selling in able to exit with profit before there position got loss if the long bearish season occur. Most of this sellers are those swing trader that bought when coinbase news released.
Normally, yes it's the weak hands that's adding up to the massive sell off. This happens everytime.
The higher the price, the bigger the possible dump is because that obviously gives the weak hands and short traders a good profit.
Majority of crypto market today is in blood bath, but most probably Bitcoin will bounce back to $50,000 in a few days.
I would expect something like this in the future more oftentimes to happen if it's the only way to move up. Weak hands or traders it doesn't matter as long as the price correction is not that high to become a reason of a total market dump. It is speculated already that price will hit a new ATH in the upcoming pump again and to attain that, Bitcoin really need a correction to let new investors to buy-in to create more fomo.