Bitcoin Forum

I am thinking why Bitcoin price are going down? Is Bitcoin Bull run is finished? I want to buy Bitcoin, so is it the right time to buy Bitcoin or I will wait for a while.

There are 2 threads to read, exactly on what you've asked:
https://bitcointalk.org/index.php?topic=5273035
https://bitcointalk.org/index.php?topic=5273337

I will also quote one of my answers in those threads.


PS. Keep in mind that nobody can predict the future.

Buy some now and more latter.  Best way to buy Bitcoin is to buy every month. I will be doing that at least until Bitcoin reaches old ATH. So until price reach  $20000.

This dump in the bitcoin price is temporary and the bitcoin will rise again soon. We just not need to panic on 1000$ dump or get excited on $1000 Pump. Rather we should invest in crypto for long term duration. If you buy bitcoin for long term. you will never face a loss.

We are inside trading business, the nearest answer to that first question in why bitcoin is falling is traders who already see good profits
are now cashing out their investments, they see good results and they wanted to enjoy their earnings,.


You can always buy bitcoin but always consider the volatility of this asset, if you can handle the risk then go for it and wait for the next bounced back. while if you are doubting or you are unsure then  continue monitoring the price action, observe and analyze that's very important, be patient enough before deciding your entry.

I don't think that this bullrun is finished, technical indicators shows that this is a likely scenario, $10,400 or $12,400. Really hard to give you financial advise because it's hard to see where the market is going.  But if you are into bitcoin for longer term, then this could be a good buy. Just remember that you can buy in small portions and then observe how the market moves. If still goes down, then continue to accumulate as many as you can.

I don't consider this a dump though, perhaps miners are just taking profits, Bitcoin price may spark ‘war of miners’ — 1-day pool outflows hit $18M (https://cointelegraph.com/news/bitcoin-price-may-spark-war-of-miners-1-day-pool-outflows-hit-18m).

i've looked around and apart from 2 comments i couldn't find anybody talking about this which means even though it seems there is a strong connection but it was purely panic sell.
what i'm talking about is the other markets tanking (specifically the US stock market and the gold price). bitcoiners had never given any shit about these markets to follow them but it seems like due to pandemic and the coincidental drop of a couple of months ago they are still scared and would sell as soon as those markets tank which they did hence the drop we saw in bitcoin price!

if you think about it, this was the government mostly pumping the stock market to keep the economy afloat while printing a shitton of money lately most of which was injected into stock market. so it is bound to have crashes like this.
meanwhile people are buying bitcoin and are buying it to escape the centralized economy catastrophe. so it makes no sense to see sell offs like this except the panic sellers who didn't understand why they were buying bitcoin in first place alongside the manipulators taking advantage of the situation to make some profit on the drop and buy more coins at the bottom after the panic sell ends.

@pooya87. It might also not only be a pure panic sell. I am quite certain there were whales who might have already known that these mining pools would dump and they dumped together with them. We panic sell because we are the last to know about the news hehe.

https://i.ibb.co/jkDPB8W/C8-D1-AD62-5-CEE-4543-A583-2-E634219-EA3-E.jpg

The likely suspect behind this latest selloff is miners, as data from CryptoQuant shows that some of the largest pools have been selling their holdings in tandem.

Source https://bitcoinist.com/bitcoin-plunges-below-11000-as-selling-pressure-from-miners-ramps-up/

just a correction nothing to worry about they happen all the time

At times like these, you have to relax in the face of a market currently rocking, if you have crypto that you have invested in, if you haven't invested it is a good time for you to buy both short and long term.

The problem is, things like this have happened before and often suddenly the Bitcoin price drops.
.This is what many people say investing in Cryoto has a lot of risks and challenges, if you panic and are nervous you can lose money, because you sell.

My response to you, calm yourself, be patient, everything will be normal for the future.

We have a diverse people in our community some followers who will just follow the market movement if they see a drop they will readily sell their coins even at a loss, there are many investors who are panic sellers and this is what happening now, it's like a domino effect, but each time there are drops or dump like this, it's an opportunity opened to veteran investors who knows this game very much.

There is nothing to worry about the sudden decreased of bitcoin's price because it happens all the time. Instead of worrying about the price of bitcoin, you should grab the opportunity to buy some bitcoins while it is in a low price because I don't think the bitcoin bull run hasn't yet finished.

General reason.  Most are selling their bitcoins that is why bitcoin's price went down. But it looks like the dump selling is already done. I think it will remain on it's current price for how many days or weeks from now.
Probably the bullrun will resume weeks from now. No one can tell the exact prediction, that is why we are only speculating.
Regarding on if this is the right time to buy bitcoin, for now I would always say that this is not. I always prefer buying bitcoin for just about 7k or below.

These whales and miners are dumping for profit, which is expected and could happen anytime while we are left asking how this happens thanks for posting this, we need not panic sell or even think that it's game over, the price will eventually recover, I was also caught by surprise I even invited a friend to hurry buy more because the price is going up, now I have to explain why this dump happens, things like this happen and we should always not forget even if we think that market is moving up.

There was a shakeout in the US stock market, so of course BTC followed.


No, it's just that every trend experiences periods of counter-trends. Bull markets don't go up in a straight line. You get rallies, pullbacks, rallies, pullbacks, and so on. This forms an overall uptrend.

Price had more than tripled from the March lows in the $3,000s. The market was due for a correction.


I think the low-mid $9,000s is a great buy area. If we get there, I'm going to look for signs of a bottom, ride the bounce, then re-assess. That could be the lowest we go, too early to tell.

The OP really asks the ridiculous question, how can a bull run end if it hasn’t actually even started yet? The price of Bitocin has only returned to the position it was in before the big drop in the first half of March. Instructed by the experience of previous years, it is not realistic to expect anything more than the price to double by the end of this year (compared to halving), which would be a good indicator of what awaits us in 2021/22.


And more than evidently, there is a link between stocks and the price of Bitcoin - and the Bithumb case should not be completely ignored, yet it is the largest crypto exchange in South Korea. After several attempts to break above $12k, this correction is completely normal for me - price stability is not something to be tied to Bitocin - at least not yet.

Many reasons. Investors are selling. Whales are selling. People are panicking and they sold out of fear that they may incur many losses.
There is another reason that investors are choosing to buy ETH for the new DeFi Projects

Can you say when the bull run has started so we can answer this question?? What a stupid question.

Buy anytime you want and don't ask here. Learn to read the charts and learn when to enter and exit. Asking here will not benefit you at all because in the end it is your money not us. We can troll here and say that you must buy at the $20,000 price because it will go up there.

Yes. It is the right time to buy. Can you think of it that you are looking to the discounted price of bitcoin as you purchase?

From $12,000 to $10,500. There is no need to hesitate but start buying before it rises again.

Honestly, I don't see any bull run with bitcoin because it just a usual pump with bitcoin and as expected correction will happen. Yes, the best thing to do right now is to buy more especially if you still have spare money to invest for because bitcoin will continue to challenge the resistance level and bitcoin will make it soon. Stop panicking every time bitcoin goes down again, know what to do and act accordingly so you wont miss the buying level.

I suppose nothing unexpected happens. Only those who have expected a very quick and large return on their investments panic. We are still on the road to our high achievements and expectations, and this period will see sharp price fluctuations, as has happened before, even up to the all-time high of 2017.

I'm with you on this, people are wishing for the price to dip so they can buy cheap and when it drop people are asking why a big drop, we are going to experience this along the way I read miners are dumping their shares for profit, we cannot stop them if they want to dump their mined coins, but we should not take this as the end of the road when in fact we are just starting out.

the question is pretty basic and i thought you are just a newbie that is curious and wants to learn more about btc but nah because i find out that  you are an investor that are interested to buy a coin  and what is that bull run your saying ? there is no bull run yet as far as i know because the price got stuck at 11k last time but now it goes down again . if you wana buy buy now , only if you want to earn quick income because btc is probably going to take off again so soon .

Well, we have to understand why the prize goes down and why it goes, up. If a user come to sell his 9k btc then the prize will go down while he takes fiat from the markets, and if a user comes with $1M to buy BTC then the prize will go up.

Now that we understand the bases, if you ask me why the price it's down, that means someone sold a shit ton of BTC. I read some rumors about a guy who buys 9k btc 2 years ago and he is selling them, but sadly i don't have the source, in the end it makes sense to me.

i guess a lot of investors just sold and whales also manipulate to get more BTC. i actually thought this will drop to $9500. i hope there is really a reason.

this is what i have read on the telegram i have subscribed. those guys added to the fud being spread on every channel now everyone wants to get some profit while trying to increase a fraction of their BTC. when this price finally spike up not the way they expect it then i'd be laughing at them on telegram for contributing the panic.

In full context BTC is not going down, this is a pretty high price and just for a small fall in the last couple weeks does not matter much in the context of gains over years.   Its still quite natural for a speculative monetary asset such as this to experience waves of interest then profit taking by those who buy BTC but don't use it for more then just reselling to others.    There is a more genuine market underneath all that where people hold BTC for years or recirculate and utilise its abilities to transact online with certainty and immediate clearance rather then alternatives such as paypal where it can be reversed a long time after which makes it vulnerable and to some extent less valuable.
   The point is simple, to evaluate the price for BTC consider the pricing 12 months ago, 2 years ago and so on until you arrive ten years ago and we've gained alot.   Selling even for the rest of 2020 wouldn't be as negative as it appeared just looking short term.   BTC is surprisingly long term not short term, I'm still trying to recognise that myself.

If we will compare the prices starting from March, we can have of that opinion that a bull run actually happened. But that couldn't be the bull run that we're expecting but at least, we've got some nice recovery starting that period.

Miners have to do that but there could be some other reasons why we've experienced the correction. But likewise, it's a very usual thing to see that bitcoin will go through a drop, it's not something new anymore.

Old-timers are used to seeing Bitcoin dropping from time to time because the miners and holders who dump for-profits have done it in the past several times because they already realized their profit, these holders bought Bitcoin in their bear market so now they just want profit, no need to really panic, if you just recently bought at a much higher price, you don't have to worry your time to sell will come.

There is really no reason required aside from "people sold more bitcoin than there was buyers", that is enough reasoning for every single time bitcoin drops. People are looking for something between the lines, some news, some major changes, some hidden thing, not for right now but so that they could be ready for the next time but unfortunately that is not a real thing, bitcoin just drops when it drops and you can't really make sense of it all.

I personally prefer to keep myself uneducated for the reasons why it drops or goes up because that way I know that I should be ready for the unexpected, which is not an easy thing to do but to feel bitcoin could go down or up any time for any reason prepares you for everything, it allows you to actually be ready.

It seems it has been stable for now above 10300$ and if it can sustain above 10k levels for couple of days, then I think this can again rise upwards only. Also, as it is said buy on dips so bought some during this fall as I am thinking for long term and again for some time, we just might not be able to see this price range once the price starts to rise.

   I think most of us expected this correction, the price is having an uptrend for months, sooner or later red days always come.
In my time in crypto-currencies, which is just 3 years, I saw that many times, early adopters seen it many more times. It's
happening and you learn about that. Many members from here take advantage from these periods, traders! I am more holder,
I just buy the deeps, and it pays out every time!

The mining pools sold but I think they saw what was going on on the stock market and thought it to be a good moment to dump before a panic starts on its own.

They prefered to incite the panic than add to it later on.

Personally I'm not afraid of seeing 9000 again. It's still a very strong level and I disagree with traders who think that losing 10 thousand would indicate a longer bearish trend. If stocks jump back up you can expect BTC to follow.

What I am thinking is some traders are taking profits when we reach $11,000 - $12, 000.
But it's just surprising it didn't happen immediately after we touch $12, 000.
But it's still ok. For me, it is a healthy correction as long as we don't drop below $10, 000 - $9, 000.

Its 2 things which caused the price to go down.

First is what is going on with DeFI on Ethereum. People were getting very greedy and plowing tons of money into it and the bubble blew. And now people are rushing to get out. They are dumping the tokens, dumping ETH and maybe dumping BTC and getting out completely to fiat.

Second reason is that crypto seems high correlated with stocks, especially during down-trends. So since the stock market had 2 horrible days where NASDAQ lost 10%, the crypto markets followed. Crypto is considered risk-on like most stocks on the NYSE. So basically many follow the stock market indices and if they see it crashing, they dump crypto assuming it will follow shortly after, which it did.

Do not be alarmed by the price of Bitcoin, bitcoin rises and falls, what happens is that you have to know how to cope with market changes, volatility is enormous, I see this normal fall, it is a speculative market, at the time that bitcoin reached $ 12k a huge volume of buy  and sell, but the smart investor buys and accumulates.

The emotions in the market are impressive, you just have to be certain that the price will recover and rise even more.

The valid source is the miners dumping their shares but we never know any guy can come here and says he is dumping his shares, this is the benefit of buying low and selling high, you can buy low and sell it when you are at profit many have done it and continue doing this, it's an endless cycle that we need to get used to.

I am not entirely sure if there is a specific reason but honestly bitcoin is a volatile currency and it will always go up and down, that is in its nature and that is why we can't really say why it goes up or down, it just does.

Definitely we can try and find some reason behind this specific time but it is really not that important because each time has a different reason and that is why it is also quite difficult to predict. Think about it this way, this time could be because of DeFi hype for example, but we never had DeFi hype before this, which means no other decrease was because of DeFi hype ever this is the first one. Which is why it is a null point, you can't know it and you can't use it when you know it, doesn't make you profit from knowing one single cent.

Not only bitcoin but all cryptocurrencies have the same nature due to their volatile price. The up and down of bitcoin and altcoin price are common and shouldnt come as a surprise. Price can change from time to time and occur every second, minute, hour and so on.

It seem that people already understand very well about this quote. Just add a reference.

the selling-profit by the whales is often the culprit...
The moment when Bitcoin is bullish and reaches a high price is often used by whales to sell, events like this are commonly called market corrections. so you don't be afraid if the current Bitcoin price drops because actually moments like this are the best time to buy.

It's normal to see this kind of price moving up or down since this is an open market everything can affect the market but to affect the market price like that? Welp, it must be the whales who did it again although traders all over the world may affect the price too. So I can't totally say that it's the whales doing for making the price drop this way. Anyway, you can reaccumulate during this time if you think about it. Since bull market is nearly comic probably next year if it's not gonna happen before the end of the year.

Bitcoin is still in the state of indecision and buy now may favors you or affect your capital and many speculator are saying that it might still go beyond $10,000 by the week end.

It was close to 12k price and tried to break that 12k levels couple of times and fell and later came down to 10k levels. Whales might have sold out at upper levels and thus market started to fell. But again, it is holding 10k levels and if we can see some demand from here then again it can cross 11k levels soon.

It's green again after that last week fall, I presume the same thing whales who already see the gained are cashing out hard
and let the market to crashed out. And now, the same pattern are showing bitcoin are gaining supports and the value is slowly
rising, sad for those who sell out while the dumped happened for sure that they are regretting such decision by now.

Indeed. It is green again, so we can hope that the price can go up to a high price. But still, I am worried if the price is suddenly back to the lower price because of the chance to see that thing will still be there. I hope that bitcoin can get more support this week and will have a chance to lift the price higher than before, so we can make a profit again. Although the dump will still be there, I am still trying to calm down and enjoy this moment, and I plan to sell my bitcoin later.

At least the current decline in the price of Bitcoin is a very good reason to invest. In addition, many analysts expect a high growth rate by the end of the year, and some base their forecasts on technical analysis of the charts that form the "bullish flag".

I believe the biggest reason was the miners, when the biggest part of the community decides that they want to get out or at least sell some coins to make some capital, you just have no choice but to go down. It is not a sustainable fall, it is not a long term fall, miners will use that money to profit even more in the future, why else would they sell money, to buy a lambo?

We are talking about tens of millions even over hundred million when you combine them all, that type of money is not gathered for personal use, it is work money and they will reinvest that to the business obviously which will make bitcoin even stronger in the future. However for the time being, that sell and creating capital did caused bitcoin prices to fall down a bit right now.

 The price of bitcoin is decreased due to many reason,one of them is market need.If the market need of bitcoin had increased a lot,bitcoin price will automatically reach the sky.When the price is reduced,it was the best time to inverse in any crypto currencies.

It's been like this ever since and expect this drop from time to time there are many factor why Bitcoin is dropping and it's not anywhere that Bitcoin is losing it's values, sometimes whales are selling their shares for profit and many follow that drop and sometimes negative news can cause the price to drop but it will eventually recover, follow the market and you'll know.

Don't expect too much with bullrun during pandemic days, because many of the investors now depends on how the economy runs over. Bitcoin's legacy isn't over, it might goes up and downs without prior notice with a lots of surprising behavior. The market needs a lot lot of time to regain it's momentum, and we can't always rely only in predictions even if we seen good increase from previous months, it doesn't mean we're confident enough to see another potential bullrun.

And just like that, bitcoin and the rest of crypto market has suffered another decline in the last 24 hours. And it could be attributed to the recent Fincen data showing the most banks do know that they are being used to transfer billions around the world and they didn't do anything. And this news has a repercussion effect on the global markets, in turn spill to crypto as there are strong correlations between the two market.

And there is this news that Britain will have it's second round of lockdown, causing a huge shake up on their stock market crashing hard as well.

The main reason bitcoin goes up or down is supply and demand, bitcoin has a certain amount sold on the market and it has a certain amount bought on the market, when buyers are a lot more and they want to buy more bitcoins than what is on the market price, they end up paying more to buy because there is none left at lower level, if you want to buy now at $10.5k you can but when enough people want to buy at $10.5k there won't be any left and you will have to buy at $10.6k and it continues like that.

Same with sellers, if they want to sell but there are not enough bought on the market they will drop their prices to be able to sell and continue to drop it until they can sell. Basically the main idea of supply and demand works with crypto as well and that makes it go down (or up).

Actually bitcoin doesn't really rely into these economic kind of situations yet we have witnessed that it did even able to rise up amidst of the pandemic.We cant really tell on when it would dump or would rise.

This is the hardest part when dealing into this market where price is unpredictable no matter how good the sentiment or fundamental that you had made but it is still bound to fail.

Decreasing price is due to sell-off which is pretty normal for a market where it do compose of buyers and sellers.Making money might sound easy but executing the actions are
never been simple.

how can you expect bullrun in this pandemic?there is no such now until the virus totally died and this will happen next year 2021 because the cure is still in testing.

also if you are daytrader then step out of Bitcoin and use altcoins specially Defi coins that is pumping and dumping recently.
But if for Long term Holding/then better Keep Bitcoin and just forget the market for a while till next year 2nd quarter maybe.

We don't know if bull run will come in this pandemic or wait for the next year. But we hope that the bull run can come before the end of this year, so people in the crypto world can make a big profit again. The bitcoin price will still up and down, and it is not just happening this time, but in the future, the bitcoin price will be like this. You need to be prepared for anything that can happen with the bitcoin or crypto market.

If you want to use DeFi coins to day trade, I suggest you be careful to choose the coins because many DeFi coins now are in the downtrend. Make sure you analyze the coins' moves to find out if that coin can increase back in a short time or a long time.

Just to be clear,thats what we called Supply and demand and also indeed that whenever the demand for Bitcoin increases then the value grows also.

so the thing is what OP is asking seems to be normal trend because there is a Up and Down trend that we have been dealing for the last 10 years of bitcoin.

Only newbie need to ask this question or those account that is not updated about news .

The OP question ignores that year on year BTC has gained mostly.   If we decrease its not especially a long term pattern and very long term BTC keeps gaining so to ask why are we decreasing only works while ignoring the longer term gains.
  More correct would be to say why do we decrease after rising previously and the general answer would be some only want to speculate on price rises for a moment, quite often borrowed or leveraged money is used and a rise only lasts directly for so long.    A cycle is normal like a wave as part of a tide, the price will vary naturally.

Right this moment we've retracted from a recent high and the speculation is to how long will the pattern of selling last.   I have price as bearish for this moment until it can prove otherwise, a pivotal price to observe simply would be 10500 and while we close each weekly bar below this its fair to say we would continue negatively for the moment however price might vary in the days between.

https://talkimg.com/images/2023/06/12/AhNYz.png

Weekly average in blue but here we see recent pricing observes a tide line around 10500, its worth noting where we stay relative to that to guess if we retract or advance BTC price upwards.

Not all crypto types will increase after a very large price drop. Many shitcoins have lost value and are no longer valuable. If for BTC, the decline in price is normal. Investors may be turning to the DeFi project because it is viral. But they will come back with BTC so the market demand for BTC increases.

2017 is a statistical anomaly because that year we went up very high and that is why people keep comparing it to that price but it makes no sense to compare a week of price to everything else so far we had. I mean I get that we were 20k for a while there in 2017 but even in 2017 the bottom was 700 dollars that year and we didn't had 20k that long, we had it maybe for a week and not even that long and it dropped even before we turned into 2018, by that time it was a lot lower as well.

So, do not focus on the 2017 because that was one time thing for a very very short period of time, remove that and you will see that in the past 10 years we actually moved up very nicely, we are doing very well and the price is actually quite high compared to what we used to have.

There are many factors as to why bitcoin price decrease. When there's more demand in bitcoin the price increase. Also the market condition is not yet in a bull run stage and if you know the risks buying at this time is also good since price of bitcoin decline.

There's this schools of thought circulating the community that the finding of the cure (vaccine) of the virus will bring about a declined in the price of markets, that's to say most assets will be sold in response to that and the cryptocurrencies market won't be excepted. I still don't get how that's going the work but from their explanation, since most assets were bought as safe heaven for the crises then they'll be sold since there won't be any crises again but it seems kind of confusing since earlier this year these same assets where been sold for fiat to sustain throughout the lockdown period.

We're already in a bullish market, what's currently happening is just a mere correction and we should have normalize these by now as during any bullish period correction are bond to happen. The general market has shown a upward movement for quite a decent number of months from the downs of March when the price crashed all the way down to the $3,000 price ranges.

Since then we have been steadily increasing and that won't be stopping anytime soon although that doesn't mean we won't see some corrections along the way to reaching it's previous all time high.

So true but let's be wary in the long run.

It is true that in a long time frame, Bitcoin's price did not disappoint us and kept on giving us great price that would give us good profits. But let's be careful since doesn't mean you hold for a long run means you will not have any losses, you should also be wary when you should sell some and when you will buy some again. Knowledge and timing is also important.

Although its true but we should consider the events happening since it gives us a hint on what will happen on future. And we shouldn't get disappointed if some dumps occur since as you said bitcoin will surprise us with huge pump, We can see it pumping hard for so many times after the huge dump came and feel sorry to those weak handed person who sell their bitcoins when the dump is happening since they lose there money for that decisions.

And we really need a good timing since it will give us a good profit if we enter in the market in correct position.

It seems to me that the current price fluctuations are primarily due to user fear. But if you look at the GlassNode study, then according to their results, the low activity of old and large bitcoin wallets is very important. The fact is that these studies indicate that there is no panic among early cryptocurrency investors and those who have invested a lot of money in BTC. Therefore, you need to rely more on long-term investments.

You can buy bitcoin right now, it is actually one of the best periods to buy bitcoin because we are talking about something more magical happening in crypto world than any other time, it is waiting for you to join before it goes up, if you wait too much you could miss the chance.

A lot of people keeps wishing they got into bitcoin before it was too late yet they are afraid of going in right now. I have heard a ton of people saying "I wish I got into bitcoin when it was under 10 dollars" and I see them having hard time putting money in right now, even if they knew bitcoin around those days, they would have been hard to convince to buy at that point as well, why would they change? This is why I believe it is quite important to realize we are at a great point right now as well and you should buy if you do not want to regret in the future.

At the moment I don't think that price is decreasing. It's fluctuating for a longer period of time but there are not bigger changes in the market or big dumps and I think the situation will stay more or less the same
Having in mind overall situation, not just in crypto market, investors are quite careful and therefore I don't expect anything dramatic to happen with Bitcoin price.

Are we still talking about the time it dropped about a month ago (maybe 3 weeks) or are we talking about in general? Because they are usually the same but also different.

Bitcoin decreased because economy started to recover, that is a big part of the reason and I am fine with it, I rather have a stronger economy that no longer needs bitcoin, I wish that happened but I know it won't that is why I am in crypto, but for a short period of time after the summer people went back to work and that meant companies started to churn up more profits which made the macro economy go back to normal, obviously regular individuals are still not back to normal just yet but the companies that started working again did came back and this caused bitcoin to lose a bit of value compared to fiat world.

If you understand the technical analysis and fundamental analysis, you can somehow predict the price of bitcoin. Bitcoin mostly move between the support and resistance level.  However when it breaks the resistance, it pumps and if it breaks the support, it will dump.

Well, this should be the avenue for anyone out there to buy at the dip because the market really went down some weeks now. The time or perfect time to buy cryptocurrency is when its price fall overtime, so, buy a fraction of Bitcoin or other cryptocurrency coins or tokens  will be of great importance now. There is no time to wait for another  time to buy than now.

Why are Bitcoin and Altcoins markets dropping lately? Here are a couple of reasons:

1. Second wave of Covid-19 fears: There's fud currently going round that we might possibly see another market sell-offs due to the increasing number of covid-19 cases and deaths throughout august and september. If it turns out to be true, we'll see a sell off but not as bad as the one in that happened in March.

2. Covid-19 Vaccines: It's no longer news that financial markets (including the crypto market) would take the negative turn if a vaccine gets approved as a cure for the virus. The problem with these kinds of rumors is that they usually turn our to be safe fulfilling prophecies. As they say –buy the rumor, sell the news.

3. A regular market correction: Crypto markets peaked in August with Bitcoin increasing more than 3x since the ATL in March. Other altcoins have also seen significant gains. Like went from as low as $2 to $19. So the market was long overdue for a correction.

There is a theory of a very important speculator, around the years 1800-1900 Richard Wyckoff existed in the stock market, and his theory in the Bitcoin market fully applies, and it is true that there is the Accumulation stage, bullish trend, Distribution, Bearish trend and again the Accumulation Stage, of course it has many variants, because in the accumulation stage there can be a bullish tendency and then re-accumulation, as in the Distribution Stage.

Taking into account that we have gone through a long period experiencing some fundamentals in this 2020, it can be intuited that the accumulation stage has been creating stages of small re-accumulation according to Wyckoff applied to some fractals of the graph.

Following this theory, it is obvious that we have not yet reached the Bullish trend stage, so any price that Bitcoin is bought at this time is the best investment of all, and taking into account the new investors that enter the market as they get to know the technology and the potential of Bitcoin, this is a unique opportunity.

Just be careful when we say 'other' cryptos. A lot of it are misleading and can potentially make the person we're suggestin to lose instead of making. Don't trust most of them as they're needed to do research before buying any of it.

Unless, they are buying the known altcoins or tokens that we're saying in general. But if the person who have heard our suggestion are careless and just simply buy anything he sees and considers it to be good based from what we've said, that person might blame us for that simple suggestion.

No need to panic its the usual correction associated with both cryptos and financial instruments e.g stock, Forex e.t.c taking weekly chart of BTC/USD as a reference the price has been moving from lower low to higher low thus the trend is upward thus any pullback will result to a new higher low just as we are currently experiencing and the trend continues, there is no cause for alarm as it always speculated ' price history repeat itself'.

Well, no one exactly knows what Bitcoin price was decreasing and it same goes for the whole market.
Actually, there's no right time to procure Bitcoin this will only depend on the price range you will sell.
Since Bitcoin is just hovering around $10k we should take this opportunity to buy and accumulate more then HOLD, through this way you could secure having a good profit when the Bull trend or new ATH comes.

Some people are just hyping and no basis regarding on their claims about the pump of a certain coin and we shouldn't believe on any of those since it will really misleads us and might we will lose our money for their selfish predictions.

We should do our very own research since by this we can really find some good spot to enter and gain even if the market price of any alts is decreasing.

I think there's nothing to worry about in terms of Bitcoin price movements because Bitcoin price won't dip easily without any reason. After all, it is one of the most stable price cryptocurrencies in the market forget those so-called Bullrun because it might influence our judgments when the perfect time to buy a Bitcoin because we just want to witness another Bullrun for me it is not good.  

I didn't notice any huge dump. Its usual downtrend and a normal behave of market .I think you should need to more analysis to get the market movement .
I can see a clear uptrend which is continuing if btc carry it ,it will be a huge bull run.
It's still a good chance to buy and full your bag i am so worried that you might btc have this price in future.

Some analysts have previously predicted that if Bitcoin falls below $ 10,800, it will be a very dangerous signal and the possibility of a continuation of the downtrend. But nevertheless, do not forget that the instability in the foreign exchange market forces investors to treat Bitcoin as a defensive asset, as a result of which Bitcoin prices can be more stable and rise up.

Those 3 are good reasons but don't forget about the big crash in the global markets we had this week, it was a problem where hsbc, deutsche bank, and ING were involved. They were hammered with the allegations of managing dirty money since 20 years ago. That brings a crazy crash in the stock markets and after that, the cryptos price went down.

Let me give you the source, that way you can read the full info:
https://www.livetradingnews.com/hsbc-deutsche-bank-and-ing-were-hammered-monday-196275.html

And yet, we are below $10,800 (currently at 10,600 plus). I'd never find it dangerous even it lower down to $9,000. Bitcoin is the leading coin in the market and for sure it can't be ignored, investors will surely take the opportunity this declining sentiment. And I have too.
I'm not a market expert, only I have is the trust for Bitcoin, for cryptocurrency. It sometimes we fall into this kind of scheme, and somehow it is acceptable in all cases.

I really think this is pretty normal and just like you said the price is still acceptable and this kind of dip may become an opportunity for traders to get more and to buy back again with cheap bitcoin I really think volatility as a good thing, And some people that are just holding thinking this as natural for bitcoin and treat this as correction for the rise it made recently, and I also agree that this decreasing price is not dangerous as well but an opportunity for many.

It is okay to give suggestions but it has to be specific because if it's just a general suggestion and the person you are talking with isn't knowledgeable with the market.

He will start to choose even altcoins that are not worth to invest because he relied with that very simple definition and took it seriously. As long as there's enough research made by someone before he invests, there's no one to blame with those suggestions.

Why are you surprised? Are you a new player? Bitcoin is still in the recovery stage,
I can say it is safe because the price of Bitcoin is still above $ 10000, and of course this is good news for all of us,
because the halving is also over, everyone believes after the halving is the time to be bullish.

There are people who will always call for a bear run, we can't stop them and that is what they like to do, so we just have to learn to ignore them. Obviously time to time they are going to be right because bitcoin does fall sometimes but they are doing this all the time, even when it goes up there are people who keep saying "it went up too much, it will have a hard fall" while it still continues to go up, so you have to learn to ignore them.

At the same time we are talking about bitcoin here, obviously it is a volatile currency and there will be days when you see it go up 10% and there will be days when it goes down 10% and you have to just be ready for both of them. If you plan ahead for both of them that means you are going to be profiting no matter what happens.

Considering everything that take place, bitcoin still moving forward, some downfall happened as part of the  process, chances that traders who happened that in need of quick cash do sell their assets.

Or players already satisfied with he growth of their investment and now selling it out and place a new position.

There's no real reason but if you are willing to take your chances you have to consider everything, rise and fall may happened and you need to prepare yourself in order to take the full advantages.

I know that there is no way that we could ever go down under $10k when buy pressure is so strong, but I also think that sell pressure could increase up and when that happens buy pressure will not look this good. So I am not certain, it looks like its stagnating a bit, it is not going anywhere, I am certain that we are not going to see too much of a problem with the fall even if it happens because people are more optimistic about the future, but right now I just don't know.

Maybe if we could just check to see what whales are thinking, if we could learn that it would be a bigger deal, at least we would know what bitcoin wealthy are considering, but unfortunately they do not come out and just say what they will do, so we can never know.

It was then to ignore those negative people who had nothing to do with their life but dragging others to think the same with against Bitcoin. These people are termites to the market and keep ruining until they won but it was unfortunate because they are just wasting their time and because nobody had listened to them.

I've been tired also hearing people saying Why it dumps? why it pumps? And surely they won't understand the word volatility. It keeps them to put the blame in the hacking issues, whales participation, it all been similar to the previous events and we are just actually seeing it again and again.

The price must fall for others to purchase again,this is how the saying "Buy low Sell High" made it good stratey(though many fell from this as greediness makes it fall)

Expect price drops whenever there is a  price up,Thats part of market being Healthy.

These points are really pointing to the reason bitcoin has witnessed decrease in price. If not for covid-19, I believe with the halving in last may, bitcoin price could have gone high by this time. People are not having money and fear on health challenges is a big issue at the moment around the world.

From my perspective it's obvious that price of bitcoin is not stable based on the volatility in market so therefore no one can predict it's price perfectly irrespective how long you found into trading and exchange transaction
Looking at bitcoin price regulations you will know that no regulates it's price base on that point, when buying bitcoin when the price is low does not mean the buyer will make much profit because after buying at lower price we taught is low and it happened to decrease again and again
So from my opinion we can buy Btc anytime we feel to buy but especial when the price is lower mostly

we have dropped below 10k weeks ago mate though it did not stay long as Bitcoin price recovered quickly but the thing is we Did fell right?
meaning at any chances we can drop again in this range,things that some of us waiting to buy more Bitcoin before the good days come soon.
and also never expect that the strong hold is permanent because volatility is really happening this past days.
that is IF mate and that is what we all wishing,Whales are the manipulator so if we can have idea about their next movement?in just a matter of
days we will be a Millionaire for sure.

There are so many factor why Bitcoin is going down, if you are investing in a highly volatile market you must become familiar with the flow of the chart and trace how things happens, sometimes for no reason at all the market go down, because investors are thinking differently.

When buying Bitcoin always check how you manage the risk it's not really the price it's how you manage the risk factor in you, anytime is always the right time to buy Bitcoin only invest what you can afford to lose.

Managing the risk is the one really needed to look for by people who want to trade since it can help new traders to act correctly when there's something wrong in the market and this could save them from heavy loss and for retrieving back their capitals.

And also OP don't expect to much on the market and just study on which time is best to enter the market and don't rush things since this will be the start of certain losses that might occur to you and expect those decreased since its pretty normal since sometimes many people are emotional and if they see some bad news they easily get panic and dump there bitcoins.

I suppose we do not need to worry about the bitcoin rate declining slightly over the past month or two. At least for today, the price of bitcoin is starting to recover, but the most important are indicators of growth in daily trading volumes and, accordingly, the capitalization of bitcoin is growing.

I believe as long as we as a whole that bitcoin is the king and we focus on that, people could invest into smaller altcoins if they want to with small investments. I am not against spending 20 bucks on a small coin if you have 1000 dollars bitcoin aside. Bitcoin will drop because of all the other smaller places losing money, those projects are made so that the creators would be rich, not you, if you end up being rich along the way that is great but that is not the aim there.

Bitcoin will always have volatile results, sometimes it will go down but remember it will always go up as well, so as long as we try to hold off and wait until bitcoin price goes back up, there is really no reason to think if we should sell or not when the price is further down than before.

Its a decreasing price within a large daily trend over months now of declining high prices.  Today the volume for sells exceeds the otherwise calm action which suggests to me we are not positive underlying even if we manage to stay positive till the weekend and then till Monday, I will still expect more negative action because of this longer term perspective.

https://talkimg.com/images/2023/06/12/AhP2H.png

The price does have some higher lows but this series is of a briefer time period then the gradual selling from peak prices we've seen since the original July break up in price.  Until proven otherwise I will assume the main weight and bias to price is downwards though we can drift alot within that.
   Blue line 50 day average, breaking past and holding that as a good low would help prove me wrong medium term.

It is what I look at. The stability that it's getting on the price of $10,000 is encouraging than to look at quick jumps and then will be followed by massive drops.
This is better than those movements that what we're wanting to see. But as of this moment, yes, no worry has to be done if we see it fairly moving.

Though i am really on hyping because i need to cash out this weekends but i respect your post mate and i believe that i should wait till next week to at least see some brightness in market.
Bitcoin has been struggling for how many weeks now to even hit 11k again but has been denied.
Yes that July break is really what we are looking now,though it becomes a viewing and comparing trend yet i am sure that 4th quarter
 will bring more of what we are waiting for,either this October or to the next months.

I think it is worth paying attention to the fact that the practical 11.5 million bitcoins that were mined this year were left without movement. Moreover, given the fact that the keepers of bitcoins, who are on Hold, reach a special maximum, which could be a decisive moment before the presidential elections in the United States. I will say that we are on the eve of very much what will happen in the near future.

This time the bitcoin market has gained good stability around the margin of $10000. Thats the reason why the market stood above $10000 for a long without much fluctuation down to $10000. Today there is small decline in the price and the same is being mentioned as the cause of Trump tested positive for covid-19. Anyhow even in the worse bitcoin is strong and high in the market.

No need to wonder it's like that ever since this where traders make money and you can too if you know why it goes up and down, there are a lot of fo reasons like whales dumping, bad news and so many others.

If you have the money then that's the right to buy Bitcoin, even if it is the right time if you don't have the money you cannot obtain Bitcoin.

And now it is over $11k, do not get your hopes up just because it moved above $11k but do not be discouraged when it goes down, that is how you should react to bitcoin movements.

We are in a volatile market, which has been stable for almost close to 3 months now, and ever since we moved above $10k we haven't went under it which is a big major achievement in the bitcoin world, yet somehow people are still worried about making a big loss or a profit, that is not how you should see this.

Either see it as a currency and spend it which very few people do, or at least if you are going to invest to it do not overreact when it goes down or up, that is not going to make you any profit in the end. Obviously you could always make trades according to what you think will happen but only do it because what you think will happen and not because market made a move.

There is no better time to buy Bitcoin because procrastinating time will eliminate the opportunity. Bitcoin will always rise in price suddenly, and if the price of bitcoin goes down, we can still hold it until the price goes up again. Holding Bitcoin for a long period will be very profitable.
Bitcoin has not reached the highest ATH, so there are still plenty of opportunities to take profit if you buy it from now on.

Currently bitcoin price is around $ 11,400 and it looks like bitcoin price tends to rise slowly, albeit little by little.
It looks like bitcoin's decline so far hasn't been drastic and is still in normalcy, and holding it is still a viable option for bitcoin's current move and be patient waiting for bitcoin to rise to a higher price.

Price is now decreasing at the moment. Yes, it is right that holding is a good solution at the dip price because if we wait some more time then it is possible to make good profit. I always try to buy in every dip as possible for me.

People panic because they expect the price to be 100k in a few days, too high expectations is the reason for the panic when the market goes down a little bit. Imagine how people panic when the price drops by 1k but on the contrary when the market goes up by 1k there is hardly any noise because people are expecting too much and not ready for even slight negative drops on the way to glory.

I usually don't like to predict big price or panic when it goes goes down but I am feeling like 2021 might be the year for bitcoins given how things are happening and how everything is getting digital and the massive use of blockchain technology.

last week was tough for bitcoin price, lots of bad news or sentiment about Bitcoin and cryptocurrency, made bitcoin price drop to $ 10000,
but everything looks good now, and bitcoin is able to survive, I hope good news comes

This is expected for people been hyped to much by those what so called expert predicting some crazy shits around the media and if those things didn't meet then they will turn out crazy when sudden downwards came.

And it's so crazy to think faster than it is that's why it's good to predict a closest figure and for me the past happenings will tell on what will be the future price.

I personally just check the total market value of bitcoins and I am not concerned about bitcoins price at all as long as the market volume is maintained and as the market volume goes higher the price will slowly but surely catch up.

I was reading a very good article and got to know that there are companies are big as Square who are investing heavily in bitcoins and they recently invested $50m in bitcoins so there must be a future for bitcoins if they are investing that big right? We small investors need to understand that if the big guys are buying the same asset as we are (bitcoins in this case) then we are moving in the right direction. You guys might want to check out the article here - https://www.coindesk.com/square-buys-50m-in-bitcoin.

Bitcoin price is consolidation mode at this moment, normal nature of bitcoin push back each time once it increases some value. The weather feels good to buy most top cryptocurrencies, right now buy them as they are cheap.  Most recent 4 years measurements likewise shows that October and November has been a decent an ideal opportunity to purchase every time.

Decrease today then increase tomorrow this is the trend now so what is to bother?i don't know why still question like this is going in this forum when the truth is this has been answered over and over again.
and also why not just wait since Post like this is not helping the price to go up.

And that is instead of us asking more and more like what OP did,let us just invest so we are helping the market to have more demand to make grow the value.

Yes, it’s time to buy if you don’t already have bitcoin stock in your wallet. Prices will rise slowly even suddenly it could happen. According to CMC data, Bitcoin in 24 hours decreased by 0.32%. Isn’t this good to buy? Daily charts show bitcoin trends move down.

Yeah, I feel like this next year might be the breakthrough year for bitcoins and cryptocurrency in general because now the corona virus is also slowing down which means investors are now looking to again invest in crypto and blockchain based projects. I also have a feeling like some really cool projects will come in the coming new year and we all know around late December the price pumps a lot and right now might be the best time to buy it before it starts jumping too high.

I always buy around the new year but this time around I was not able to save enough money to buy bitcoins or do anything I usually do so I will just hold my saved coins tight and hope that new year brings some great news for us hodlers ;D.

Trading and investing are very different, trading must have a lot of knowledge about analyzing the market on a daily basis,
but investing is only based on a few analyzes, it doesn't take everything, Bitcoin price is indeed high volatility,
don't you know that yet ?, Decreasing is a the cycle is named bearish, and now that we've been through it,
we are in bullish, and it's a great cycle to trade. don't worry about decreasing, everything will be fine

^ Because they don't know the nature of bitcoin, it will always fluctuate every now and then, and that what we called a 'volatile' market.
Definitely right, due to the volatility bitcoin price has up and down the price in the market because the price was determined only by the demand and supply, it means this is not manipulated. I don't understand people keep asking when the bitcoin price in a bullish trend. However, this is a very simple logic, when the price will go up, just sell if you want to cut your profit, but when it will down, accumulate as much as you can and prepare for selling.

Main difference of crypto market to traditional ones;

-More volatility
-Not regulated
-Irreversible transactions
-High liquidity/ Big community support

So its expected that between buyers and seller then it can really move out prices.
Decreasing? Of course, sell-offs had been always the main step when someone already see some gains.

All those sentiments and bad news turns into good news as the price starts rising so really don't trust any of these articles and video analysts who claim they know everything about the market because the truth is that all such guys and analysts only react to how the market is moving and based on the negative or positive swing they create news around it. There is always so much happening around bitcoins and one can easily relate that with the price drop or when it rise one can say this happened hence price raised, so all these guys are just reacting to market changes.

There are so many signal groups on telegram and they all are doing nothing but making blank predictions and the one that hit somehow they let that one as a proof and delete the other wrong ones which creates an illusion for a new user as if they are too accurate.

It's seems you are new to trading,so only you are panic for the minor dump.It was common one in cryptocurrency.For the reference,the price of bitcoin around 11699$ on october 12 and it was around 11,300$.So it nearly 400$ reduced in a 4 days of time.Does it mean,bitcoin lost his support among investors.Not at all,it's just an pump and dump.

I wish people would stop asking "is it a good time to buy now?". Don't wait, just buy! If the price falls down by 0.32% buy! If the price rises by 0.32%, please buy. Try googling "is it good time to buy bitcoin" and look at all those threads you will find in bitcointalk and reddit. People were asking back then when the price was $200 if it was a good time to buy. They though its too late to make profit and the price was high. They though it would crash back to what it was before and waited for that to happen. It never happened and now they regret.
You don't want the same thing to happen to you, do you? So even if the price "rises" or "falls" slowly or the trend says its going to crash, dont listen to those and buy your bitcoins. As long as you don't sell them, you won't make any loss.

It's inevitable to someone who are in doubt in choosing the range for an entry point to ask when is the good time to buy. Some might be looking for a clue, but most of the time it's just that they don't study the market movement and were just relying to what the community is suggesting or the current mood  of the other investors.
Nevertheless, a good time to buy Btc is always "anytime". Just like how you described the regrets from the past.

The decline in Bitcoin has become a cycle, of course bearish and bullish will always exist in the world of crypto currencies, one of the reasons for the decline in Bitcoin prices is because of bad news, do you remember the news when the president of USA Donald was not hit by Covid 19 ?, yes, the price of Bitcoin It dropped immediately, but when Donald Trump announced a stimulus, Bitcoin was going up well and trying to recover above $ 11000

Everytime people asking this is the time to buy bitcoin? If you want to buy bitcoin there's is no time for that once you have money and you would like to invest in bitcoin just do it. I know that you would like to get an opinion to others but once you have decided to buy bitcoin then go buy bitcoin. Because bitcoin is good to buy now or later then hold it to make a good profit.

Absolutely this is one thing that people are yet to learn because if we had to trade with stable markets and prices then we can always do currency trading in pairs like USD/EURO but because we want higher frequency in change of the price we are trading with bitcoins and now people are questioning that which makes no sense.

Because people have developed that kind of a mindset where they feel unless bitcoins rises by 2-3k USD it is not worth it but people are failing to understand that the reason for sudden rise in past was mass adoption which will not happen again with that same intensity again. The price will be more stable now I believe and while the price might rise slowly but that said even the drops should be more shallow so it acts both ways.

Exactly, and I'm wondering why people keep asking this thing since we know the reason already and that volatility feature has no chance to change it either. We have the pump today, it dumps by tomorrow, and drawback high again in the next days. The life cycle of Bitcoin has no longer surprised at all, what we need is to understand the situation and accept its volatility.
News is one of a major factor that changes the trend, veru influential which mostly it creates FOMO.

There's nothing amiss with the fallen of bitcoin cost since it's in his temperament.
Numerous bitcoin financial specialists sit tight for fallen of cost. When the cost goes down, they begin purchasing bitcoins because they know it's exceptionally unpredictable and may be expanded on any occasion.

Any time can be considered useful for bitcoin; I purchase coins whenever I see a diminishing cost and will be profitable to sell in the future.

Already everyone knew well about the cryptocurrency market. It moves forward as well as downward anytime. People watching the market changes carefully will get to know about the present scenario. Following this one can make better price prediction. If the price decrease over the past two days is connected, then it is all common thing. The decrease have now ended with growth.

Price has been reacting positively since the weekend, I thought it would be more neutral to negative.  However we have regained the weekly and 2 day average for quite positive momentum, Im not sure if thats just following the main markets blindly or not.

https://talkimg.com/images/2023/06/12/Acclg.png

Im finding it hard to judge right now, I guess the news is making for murky price prediction but we cant say its acting negatively and in fact there are high expectations presently.   I always take over expectation as a danger somewhat.

It's worrying if the expectations are becoming too much in the market. That psychological impact has been threaded to my mind after the bull run when most of the people expected that bull runs are going to last forever and that's specifically during the eoy of 2017.

We can't be sure if the elections has something to do with the reaction of bitcoin reaching $14,000 or it's naturally growing. And just like the sequence that we're all thinking, maybe it's following it. Really can't tell if it is.

As for market is concerned now we've crossed $14000. This has happened with a slow and steady manner, but the market itself gets connected with the US election counting. This is being done as the market pumping has taken place today, particularly the price is stabilizing above $14000 rather than falling low in a short time period.

As in the above quote by @STT, the growth seems to be positive and gaining momentum. For these days it is always good to be prepared with immediate plans if you're into trading as the market deviation could happen anytime.

It seems silly to read anything into the day to day trends with Bitcoin, especially when we are going through a turbulent time around the US elections. You are better off looking at the general trends taking place over weeks or months as this will help to build a better picture for you. There is a lot of positive news coming out right now, which is going to continue pushing the bitcoin price upwards - like Paypal getting into the market (even if it's kept in an enclosed ecosystem) and hedge funds steadily hoovering up bitcoin as an asset class that is receiving much more allocation

We have not seen the bull run yet, let's hope for it next year,but the market is fast improving, this is a good time to buy your coin, when the price is still low then you should make profit when it pumps, there is nothing you can do to make the price move up fast, you just have to make best use of the time, probably invest and take profits.

there is always correction, at the same time resistance has been growing stronger and this time we will see a lot higher than 20k when the run is finished. Before that I might want to attempt a short there, my target price is $14.5K. I don't exactly the next move and i'm certain the cost could climb quick.

The reason for the decline in the price of bitcoin is that when the demand for it decreases and the whales influence the market they bring down the price of the currency and the traders suffer a lot but now the bull run is going on bitcoin is a very strong currency in the market. The price went down it went up again stable currency does not have to go up and down because of this but now the market is improving a lot investing will be profitable if you take many easy and right steps to prevent it.

There can be many reasons for the decreasing price. I think this is not a matter of worried because this is very natural for the crypto world and there is no other reason for the permanent collapse. So it will back to its position. I suggest that you can buy some BTif the price decrease more than purchase more but now wait and see.

There are numerous purposes for the fluctuation of bitcoin and digital currencies.
Yet, we ought not stressed over it since it's the nature of crypto, it declines their rate so individuals can get it and help to develop it.
Numerous financial specialist hangs tight at the diminishing of cost since they know its an unpredictable money and much amazing than some other speculation.
The more it perish its value more we see the improvement in the future.

Actually if you check the thread was created when the price of Bitcoins was actually going down or at least not increasing so it is not relevant to discuss on the topic I believe now.

So, you are saying that bitcoin changes it's price to allow people to buy bitcoins and help increase the price? Man this is the funniest thing I have heard on internet today. Bitcoin's price moves based on demand and supply and not because bitcoin is controlled by a person who changes it's price like the volume of a TV.

I cannot really understand what this means, anyways now the price is moving is up so I guess everyone is happy and some more than others.

This thread starts at the beginning of September with a fairly sharp fall and that was part of a trend of retraction in the price but we've beaten that trend and moved past it.   BTC has been doing great since then, we approach the end of week so I drew the chart with weekly bars to encompass July rise into resistance until the biggest red bar is September start and the OP complaint and then the bars till this November boom in price action.  Each bar is monday to sunday.

https://talkimg.com/images/2023/06/12/ALxzH.png

Thats a pretty good trend down, the quality of a trend and its certainity is in the points it touches and stays within its boundary.   So we got about 8 weekly bars touching that trend before it gets beaten.     I drew the new trend for bullish rise post breakout quite tightly but its mostly been staying within that.    Not everyone is a fan of trend lines and it has to be taken as a line in the sand not a wall, so far we've held and the tide now has us brought us price up.

we are in a strong and slow bullish at the moment, Bitcoin ATH is in sight..

bulls and market corrections (bearish) are natural conditions which mean there is trading activity on the asset.  currently, it is still a good condition to buy Bitcoin because for sure we will see Bitcoin past its ATH ($ 20k) in a moment..