Quote from: slaman29 on September 10, 2021, 01:20:38 PM

Quote from: mindrust on September 10, 2021, 04:55:05 AM

It was a natural disaster. Just like earthquakes. It is all technical analysis. Markets go up, markets go down. Sometimes they make corrections. I believe yesterday was a correction. The fundamentals are still strong. Now El Salvador has adopted bitcoin fully, I'd say there is no reason to afraid of pretty much anything.

Haha, I would never have thought to use the term natural disaster but I think I call this natural weather. 10% drops in crypto is like regular and normal occurrence for me, not disasters, and for sure not disaster for everyone.

But maybe you have a point since all over the world people live with natural disasters like regular thing, so crypto market people should also regard these corrections in the same way.

If it was natural do you really believe that price would crash from 52k to 42k (it bounced back over but it was initially 42k for a minute there) in under one hour? Nothing natural about the price crashing from 52k to 42k in 30 minutes, that was clearly man made. I am not saying it was out of ordinary, for crypto those type of falls are ordinary at this point but it was definitely man made, but man made drops are ordinary in crypto.

Long story short we are in a situation where crypto crashed because some whales wanted it crashed, plus there was a lot of liquidation going around as well turning bitcoins into USDT to pay the debts, but aside from that it was basically good old bitcoin correction. Just because it is man-made doesn't mean it is unnatural, in crypto world man made drops are alright. I still remember Craig Wright causing price to drop from 7k to 3k in a day.