Quote from: justdimin on August 22, 2022, 08:08:52 PM

Quote from: asriloni on August 21, 2022, 06:32:09 AM

Quote from: Wincob on August 20, 2022, 07:03:48 PM

Why did I feel like the reason why BTC doesn't go below 20k today was because of Ethereum? Many are adopting ETH because of the merge and the forks, free money on the way for holders not just stakers.

Its' not caused by ethereum that was triggering the bearish trend but it's caused by mtgox issue that was making so many people feel worry. I have no problem with ethereum at all since ethereum will always be going to the bottom along with bitcoin and whole of crypto market due to the bearish trend. The mtgox dump may make it different as it can trigger the situation to be even worse. Don't you aware about this?

That's true, the mtgox deal is getting to a point that people are worried about not just one small part, but more like billions of dollars. I still think that it won't happen that way, but it does feel like there is a good chance it could be done in smaller parts piece by piece. This will of course eventually level out the market and not going to really crash it. Which means that people made too much noise out of nothing.

The amount of money that mtgox could have caused a trouble, was smaller than the amount we already dropped just because of the news. That's our biggest problem, news about potential danger causes the price to drop more than the danger itself and that's stupid.

Correct, if we think about the amount of coins that could be dropped to the market at the same time is not really that important, especially if we consider the daily volume of bitcoin, however the threat itself is enough to cloud the judgment of people and make them think that an absolute catastrophe is coming, this creates FUD and as we know if enough people believe it then this will cause a major downturn in the market, which is exactly what we are seeing at the moment.