Bitcoin Forum

Wow, what a ride . I sold for cash on Friday. I'm buying back in when I see it level off for 2 weeks . I made 400% on Friday ,but 100 will be ok this time . Hang onto your hat folks ,were in for a real ride ,yipee kiyi !

It dropped another $2000 since I posted that minutes ago.

This isn't anymore a price correction. The price drop has begun, because at the moment the market drop is found close to 18% which is very big. Ethereum hasn't seen to drop big, however the values have been falling continuously. The price of bitcoin has reached arou $34000. People have missed the opportunity, who set the target as $40000 will be now enjoying the buyback.

IMO we are entering the period of the roller coaster. I expect to see many +/- $2000-$3000 in upcoming months. But I don't think anyone can predict the sequence of these moves.

$30,000 - $34,000 might be the support this time. I've also sold some at the peak but don't know if I'll be buying back as I need to use the money that I've made on selling. Those who have bought on $40,000 - $42,000 might be the new weak hands on this time.
There's another series of panicking and there will be another blaming of bitcoin by those investors that didn't think of using some charts pattern and analysis.

Historically bitcoin has retraced at least 30% from every all-time high as people begin to take their profits. What will be interesting to see with this bull run is if the dips are as pronounced % wise as they historically have been with the increased institutional interest this go around.

If this situation continues, the bitcoin price will go down to $30k-$34k as @batang_bitcoin, but we hope that the situation will be better this week. It is a correction that I think deeper than before, so if you want to buy more bitcoin, it is a good time to buy, but you need to watch the market and analyze it before doing something. If the price can not stay at $35k this day, we might see a down again tomorrow because I see the downtrend still occur at the market, so make sure you analyze deeply to find the other good time to buy bitcoin.

I just sold some Bitcoin yesterday before the crash happened. Damn, was it scary!

Definitely not the first time it's happening. Similar crashes have occurred the past several weeks, no bigie. Just consider it an opportunity to buy and then sell at a higher price later on, in the future. In a couple of days, it will probably recover.

Nah, Elon has little to do with BTC. Only TSLA matters to him.

No need to panic.

It is correction after reaching ath.

Just normal.

Imo it will recover next days and getting to next ath...

If Elon Musk started using BTC for large transfers at Tesla the price would probably reach 70k if not 100k.

Lots of other companies would follow and alot more trust and attention.

It seems now the setback is a bit like when it was at 27k/32k for a while. Shaking off all the large BETS on Bitcoin price, and getting more people to sell (some people prefer to sell when its low as they get scared), plus breaking thru s/l

Also its Sunday so maybe wall street taking a day off from buying like crazy.

Oh no, I don't think it's a correction as the price has dropped to 12% straight away. Guys it's time to rethink and plan I guess the time has started for BTC to go down, don't blindly trust other and don't be too greedy.

In the near term the key for BTC is to remain above 20k support level, However for short term holders this is not the right time to enter the market analyze it and then buy if you are desperate. The most important thing is guys don't panic and sell understand the market and go through the technical charts and then make a decision.

Good for you mate. Scary indeed! But as for me, I think I have missed an opportunity. I was thinking to make another sell in the past few days but I keep myself from doing it in hopes that the price will still increase. But turns out the price is now starting to crash. Well, it has happened. I'm still glad I made profit. Least I could do now is to hold and wait for another spike.

Considering that institutional investors and important companies support the bullish trend this time, it does not sound convincing to say that retailers will drop the price back significantly.

I have periodically sold my ethereum in small batches lately, but last time at the price that the coin has dropped to now. Now I have a certain amount in USDT, so if the market falls further, I will buy, but will grow, I need to determine a temporary price peak and sell. I am more and more convinced that simply holding the top cryptocurrencies is ineffective. You need at least periodic trading when prices are clearly going up or down. What will happen next - we'll see. It looks like this year will be very interesting for cryptocurrency market participants.

What an intense price drop or correction in just a day, But as always said Bitcoin is a volatile asset thats why everyone shouldn't be surprised when we see that huge price drop, but the price was still around $30K so it still big and far from $18K as other was predicted so let us wait and see.

Well I just bought a $750 top up about 5 hours ago at 39k, and is now down to 32.5k.

Feel the adrenaline and the blood on my hands from the falling knife  :D

The drop is what lots of bitcoiners and institutes are waiting for to load up more bitcoin in their portfolios. Is it right to say they are very happy to see the drop in the early morning today?

It is meaningful drop for bitcoin too as after months of climbs, bitcoin needs to be cooled down and it helps the bitcoin to have a more sustainable growth in price. The price target is higher for this bull run but it is not a time to reach it. Corrections, accumulation again are necessary and soon we will see bitcoin touches $100,000.

The drop is because of the yesterdays Tether podcast https://www.whatbitcoindid.com/podcast/questions-for-tether.
There is a high chance that Tether has printed money out of thin air and is not backed by anything.
There are also allegations that Tether has bought Bitcoin with "free money" to inflate the price and make "price floors" around certain round numbers.

The price drop was pretty much expected.The bull rally,that happened for 2 weeks and the price went from 20K to 41K USD was a bubble and that bubble had to burst.
I missed the opportunity to sell at 40K USD,so I'm in the bear team now and want to price to go down back to 20K USD,so we all could buy more BTC.
When the price goes up,I sell a portion of my BTC,when the price goes down,I just HODL and wait for the cheap Bitcoins. ;D This was supposed to be my trading strategy,but I was busy with other stuff,so I missed a lot of profits.

Thanks! Don't worry, the 2018 crash taught us a very good lesson so it comes back stronger.

While you're at it, have you considered shorting?

I saw this dump coming that's why I've been hesitant to long Bitcoin any further. It went up 400% within a short period of time without any major correction? It was sustainable to keep pumping. I knew that at some point bears will step in along with people who bought or longed bitcoin when the price was still within $15K - $25K. These set of people are still in profit. I don't even need to make those that bought March 2020 bottom. Either way, there's something we should always keep in mind, whether we like it or not, the market  just can't go up forever. Never get too carried away with price pumps. Don't forget to always take profits from time to time.

For anyone that is considering shorting now, be careful. It's better to catch this move early than to join late otherwise, you're fighting a losing battle.

How lucky you are. I dont even have a big amount of bitcoin to have a good profit with. Right now, holding is my only option and I dont have time to repeat selling/buying process to enhance my profit. But I dont lose fate on bitcoin. Buying bitcoin around $10000 is my best move and i will be patient no matter what

12% is a small amount compare with the big bull lately. Bitcoin drives insane and it is hard to believe that it has surpassed $40000 already. My prediction was $30000 before February but it breaks all of my analysis.Well, that is why I always love bitcoin. You never know what happen next

Gold was also dumped this morning. From $1950 to $1820. Dont know what happen. Maybe it is about the America. They are struggling in many kinds of crisis at the moment

If this podcast was yesterday, why then this severe drop from 38,000 to 33,000 started 01:00 CET and not straight after public announcement? Btw, this podcast is dated January 6 if I'm not mistaken. I think there is no connection between these two. I think this was just a long waiter correction, due to bitcoin being overbought recently.

I set my support at $30,000 then if ever my support set will be broken too then this will be the time that I will sell my Bitcoin at $29,000 ++ as moving downward course of as low as $10,000 difference is not a normal market movement anymore as maybe there are bad events that happening like some hacked exchanges or maybe some big whales are dumping already so we need to be vigilant now. Let's wait and see.

We really are in there is a speculation that whales are doing this I read it coming from Coingecko newsletter
nothing really new this has been the case ever since I hope it will go up again I was hoping that it will stabilize I still have some Bitcoin that I have not yet sold.

I suppose that for you to have managed to make 400% profit then do you do daytrade? and on the thread question I see it as follows:

the price is rising without any strong resistance, so he found a strong resistance at  $41400, tried several times to break but failed and when that happens the price drops until he finds a strong support which in this case is at $34000 and in break the support that is at $34000 so the next big support is at $30600


if people do not use strategies to minimize the losses in this price drop, then the losses can be huge.

Something you won't worry about. If you take a look how Bitcoin was so volatile that It's literally jumping thousands of dollars in just an hour. Most probably we're just experiencing a correction which is kinda normal during bull season. Bitcoin ain't done yet, there's still a lot of bullish news that's spreading all over the internet, I'm pretty sure it'll give an extra boost for Bitcoin to continue rising.

We do not know until when the price drops, but now we need to stop that because it chances another dump happen. We already lost more than 3k dollars and we can still revive it if we really want to achieve again the 40k dollars . Remember the time that we wait to reach this and hoping it will not drops easily because it's need time again to pump it which is needed a lot of patience again to see the price very high.

Still above $30k so there's nothing to worry about the price going down hard.

And as the OP said, this is good, as we might ride $50k soon. This is a healthy correction, look at the trading volumes in the last 10 hours or so, pretty busy with constant changing of hands, and currently consolidating around $33k-$33k and I'm sure there are investors happy to see the price moving down today so that they can take advantage and then we will see the price moving south to $50k.

12% during the time OP has posted but the biggest loss so far has already reached to 20%.

There's no negative news about crypto now that cause this dump, so it's safe to assume that this is only a correction, if it's already a start then we should accept it and be realistic since bitcoin's nature is not only a one way pump, it also correct and that's what make it a high volatile crypto asset.

Why not, bitcoin price have increased quickly in last few weeks. So at this point we should consider 20-40% price drop as a crypto market correction. But if it happens continuously and drop up to 60-70% from it's peak price then we may address it as a real price drop. A pullback wasn't unexpected though. If you (anyone) were unable to sell at high then hold now, it will recover. And it isn't possible to predict the bottom of this dip. So it's up to you when you will buy more bitcoin again.

Nice story if nothing else, but not far from the truth that things are far from legal in the USDT printing machine where this coin is printed in the same way as the USD - as much as you need and whenever you need, without real coverage in fiat currency. In my opinion, this is something very bad, and I am sorry that the idea of stablecoins is so widely accepted and that people are not even aware of how much space there is for manipulation.

On the other hand, we all more or less expected a correction to happen, because $10 000 up in a week is still too much, not to mention what happened before. But this is only the beginning of the year, and I think there will be many more ups and downs. We who have been with BTC for a long time are already used to it.

Yeah I'm happy;)

I've been waiting for the sub 30k- test for a while now so even could say am slightly disappointed the bears didn't go all out today on Monday. If this is the best they can do, then the bulls will be very, very pleased.

Looks like we're now in that "quick 10-15% gains" territory for those dumping at 40k+.

As many of you would say, this was expected and bounded to happen after those weeks of price increase.
I’m glad for those who had the chance to grab this opportunity, but sadly as for me, I missed the chance to buy more.
Although we are hopeful that the price will climb and this is just a quick downtime, nothing is certain so we need to be careful with our decisions.

WOW, with this speed, Bitcoin may drop to under $30 000 until the end of the day!

Do you under $30 000 is a good buying point?

In theory, if investors are afraid of the collapse of USDT, then they must first get rid of it and this should lead to the growth of other crypto assets, since it is impossible to quickly withdraw a crypto to fiat. At the moment, I do not observe this, therefore, this correction is most likely caused by other reasons.

The current price of bitcoin is $30,000+, and I don't know where bitcoin's price will head because not only is bitcoin dropping its price, but also stocks and gold have decreased, so I think bitcoin correction is coming that its proper value will return. It is very depressing for others to see bitcoins suddenly fall again because it was really unexpected, but it's nice to see that some will be able to rebuy bitcoin.

it's the same thing, a correction = price drop.
This is the first correction since the last one at $19k.
based on bitstamp, today's price range $30500.00 — $38261.39, which mean -$7761 or -20%, if we count the ath at $42k = -27%
it can fall even deeper to -30% or -40% though if the prediction will be the reality but the support level at $30k seems to persist so far, it can rebound or continue to decline at any moment.

https://i.imgur.com/Do6yt9q.png

Where do you think its going? The pump is over. Its going to go back to $10k to $15k and then will settle around $20k. People who bought in at $20k are going to naturally take profits now.

The stronger dollar may have started this sell off. I would not be surprised if Bitcoin fell way down to about $10k over the next few days given the selling pressure at this time.

Bail out while you can, its flush time!

Honestly the price went above 36k all over again, from the low of under 32k price, which should be an indication that people are not done with the bull run just yet, and price will go up. I would advise people to buy right now, right away, from under 32k or so price as of right now, it is not too much away, it is like 32997 or something, so it is nearly there, but try to get it from around these prices, don't go heroic on 39k price. And if you can buy from 33k price, wait for it, because there is a 50% chance it could go over 40k once when this is over.

I usually do not give suggestions because if I am wrong and price goes under 30k and you end up losing money because of me, I would feel horrible about it, but this is different, all of you should know the risks already, and we have done this multiple times already so I believe in bitcoins chances to go over 40k.

Avoid being deceived by ethereum, ethereum for the most part does not move independently of bitcoin, it took some time for ethereum to begin to crash but it has began already and as expected its crash is even bigger than the one we are seeing in bitcoin as its growth was not justified at all and was supported by speculators.

While some people are sad about the drop in the price, this is fine, we are still above the 30k level which means that sooner or later we will have another opportunity to try to get another ATH.

Your Legendary status makes me think you've been here a long time. But your comment makes me think you're new here. If you think 18% is a big drop you haven't been around very long. This is just a correction, an expected and healthy correction that will fuel the next big rise later this winter/spring. Actually the correction hit 28% now, which still isn't even that severe for a typical correction. 2017's corrections were about 42%, which would bring the price down to $24k/$25k. I very much doubt it'll go that low. But even then, nothing to worry about. Price will be pushing new highs again next month. This is the time when panic sellers lose money and buyers gain money.

I think this is an unrealistic scenario. Such a drop is huge both in natural numbers and in semantic (below the previous ATH) in such a short time will mean something close to collapse. It is unlikely to stop. I do not believe in the reality of such a scenario. And if to argue objectively, 30K is the price that just recently everyone only dreamed of.

last support ta remain  bullish for the mid term is 26k.

Had already bought in in 31k and now i had already profited as the price had able to rise up $2000 in a short span of time. 12% correction? This isnt something for you to get shocked into this market.

Feeling sorry for those who had bought on $41k and able to panic sell when its dipping down way below.Well, as usual where there is always some shook off for weak hands.
Ready for an another run? This pullback might really be some those typical corrections and readying up again on breaking highs.Lets see
if it would really be doing this time.

Unpredictable and unaware move that just shakes everyone out and move upward or downward but I think this kinda sharp move won't repeat

Bitcoin has always proven itself how to raise prices and lower prices quickly, as we saw in a few minutes bitcoin could drop by as much  as $2000.
Even  bitcoin  is  not  dependent  on  pandemics  to  dispose of. The real  reason that  whales try  to  take  advantage  early  when  bull  runs  hit.
If everyone sells frantically, it will trigger lower prices and an opportunity for the pope to buy back at a cheap price. And for the other  hands that
have missed the bullrun this time.

No need for FUD, we already had a similar pullback if I’m not mistaken with $34k to $27k, and a similar thing has happened now. The price has already reached $36 600 today, and it's probably only a matter of time before it reaches $40k again - a similar thing happened after the last halving, only now the numbers are different and people have a hard time with a 20% dip.

Weak hands have once again shown why the rich are rich, and the poor are mostly left with empty pockets.

So this is the third time in less than a month that Bitcoin is making such a rapid recovery after >10% correction. And on both the previous occasions, new ATH levels were reported a few days after the recovery. And I hope that this time also it will be the same. What makes the difference now is that the investors are well aware of the 4-year pump and dump cycle. So even if the whales try to manipulate the prices, the experienced users may not dump their coins. On the other hand, they may use this opportunity to accumulate more coins.

this is like riding a bronco at the rodeo .

Hard to tell because you wouldn't know if those whales or the majority will really be having the same thing in mind for them to move the market.

12%? this is just a typical or normal day on this market where bitcoin could really move in a short span of time and then made up some recovery afterwards.

Therefore, to utilize up these movements then better to make some decisions neither you would accumulate while its still cheap or would just wait for the right time.
The question is , would you able to know on when?

These type of recoveries happen because people do believe in what is going to happen with bitcoin is to get it increased a lot, that is just how bitcoin works these days, everyone is bullish and that is why everyone thinks bitcoin will go up constantly. However just because we "believe" it will go up, doesn't mean it will go up, so people instead decided that they should buy bitcoin in order to both get richer while doing it, but also make it go up because they bought, so all those drops end up with bitcoin going super high.

We had like 5 or so drop and increase during 20k period as well and eventually we have peaked over 40k, which shows you that when there is a drop and up type of cycle it doesn't mean it is crashing, it just means it is getting ready to increase all over again, and that is why I think we are going to be over 40k once again very soon after this.

It is difficult to determine in which direction the Bitcoin market is going, what if you know and have certainty is that many large companies have been making large investments in Bitcoin, some gold investors prefer Bitcoin, they see it more as a safe haven despite many circumstances.

Given the fact that the correction began in many markets, it is safe to say that this is a global trend and it concerns not only bitcoin. Now, a lot will depend on regulators and liquidity in the markets - if it is not enough, then the fall can be strong and bitcoin, as a highly volatile asset, will fall faster than the stock market.

When Bitcoin managed to go up to the price of $ 40,000 I did sell some of the Bitcoin I owned, because I believe Bitcoin will be corrected first
so that it can go higher. It turned out that my prediction was right, finally the Bitcoin price dumped. Then I bought again when the Bitcoin price
was $ 32,000. And now it's up to $ 36,000 again. Hopefully this week Bitcoin can get back to the price of $ 40,000.

That was smooth buddy . are you planning to sell at 40k again ? Or are you gonna up your game this time ? but I guess correction was over and we can now go beyond 40'ish .

That's true that there are big investors involved on btc , we that are already know this won't get panic or scared anymore because we know that once price drop , those investors are going to buy and buy making their wallets filled up with btc's and making btc price return to normal

You're an old timer, you know better than that!

There was no immediate 50%+ dump from the top, as seen when the 2011, April 2013, November 2013, and 2017 bubbles popped. So in my opinion, the pump is nowhere near over.

In the end stages of the bubble, we should be getting 20-25% daily gains. The rally to $42K was rather tame, as one would expect them to be in the early stages. We ain't seen nothing yet! ;)


$25K is technically still possible, although time is running out. Once this correction is over, $25K will be gone for good. There is no guarantee whether this correction meanders sideways (no lower lows) or if the $30K low will be breached.

$10K is gone forever.

Good decision, you can easily make like what? 10%-15% conservative profits right?

I also been thought about that kind of strategy, but it's really hard to time the top of bitcoin. In any case though, I just HODL makes it's easier for me at least.

The bounce went as high as $39k, if i'm not mistaken, but it seems it went to to $36k right now, I'm still expecting an improvement start of this week. Probably $38k-$39k again.

That's was a nice catched, there are traders who can managed to take advantage of this kind of movements,
 short-term traders who are good enough to make money with this volatile market.

Indeed a good strategy that works with buy low and sell high then repeat it over and over to have a better outcome.

If you have that skills and understanding to this venue, you've got an edge to every traders who are hoping to earned, not greedy that much and have an attitude to patiently see before taking positions.

As per coinmarketcap, we have drop +7% in the last 24 hours, pegging the price currently at $34,800. So dip continues, but the good news is that we are still above $30k and maybe this will be the support level until we either have a break out run start of the week.

So I would say that we might trade sideways for now, expect the price go on as high as $38k. Perhaps the market has somewhat slow down, although I haven't seen any negative news as of late, there are threads saying otherwise. But going to $10k? I doubt that we can go that low as the opportunity to buy exist at any levels.

Bitcoin dropped 6.1% from 24 hours and nowborice is  35,331. Still price is good and investor are still in benefit.
At this time if we trade below 35 ahould be beneficial. There are 70% chance that price will pump and we will see 40k soon.
I think short term traders will be happy. Now they have a chance to buy some btc and then sell above 39 k.

We are observing this pattern for the past many weeks. Bitcoin exchange rates remain volatile (which you can expect after such a sharp rally), but the important thing to note here is that the prices have recovered within 2-3 days whenever there is a correction. This means only one thing for me - the platform is set, and Bitcoin is on course for the next major rally which is going to take it beyond $50,000 (or much more than that level).

The investors want to wait for more before they can sell and take profit, and as the price now is down, they can buy back bitcoin again, so they will have more bitcoin to hold.
If they can be patient for a while, and waiting for the price back to increase, they will make a profit, and they can expect to make a big profit in the future as bitcoin price will have a big chance to break to $40k again.
It is about how they can hold and wait for a while, and not many of them will have patience.

I think that for the time being the dip has stopped, it is true that the bears are still trying to push the price even lower than what it is right now but they are facing a lot of resistance and even if they are able to make the price drop to lower levels this is only temporary, so I think that for the time being the price of bitcoin is trapped and it will move sideways for some time.

I don't know how long this is going to take, it may take a few weeks or maybe even a few months but sooner or later the price will take a definitive direction, if it is up then people should prepare themselves because we could witness the biggest bull run in history, but if it is down this could get ugly if institutional investors begin to sell.

It’s always so cringe when I read bit coin. I always just find myself unable to read the rest of the post while I ponder whether it was some sort of auto correction or the user really managed to find their way here and sign up for the forum while never knowing that Bitcoin is one word.

Bitcoin day's range is $33,833 — $36,839 based on bitstamp, so it down 2% over the past 24 hours, coinmarketcap seems different, perhaps the time frame of 24 hours to calculate the price drop also different. Well, we can assume bitcoin going sideways or the market appears to be assembling a base for the next breakout to surpass the ath at $42k, I would say it won't take so long to reach that target, as $30k was the bottom and let bitcoin consolidate the resilience to bounce back.

I like to think the Bit part is important in emphasis, smallest parts matter but I might be over reading that :P


https://talkimg.com/images/2023/06/12/ArO61.png

I could draw on the chart but not a fan of messy and clutter and I reckon its straight enough to read that we changed mood in the last days with more indecision in movement then previous with its strong momentum.   Perhaps we should look again for it to return to regularly sustained price action above a weekly moving average.   It challenged before Jan 11th but now we cross regularly, different moods so maybe it takes till the monthly below catches up.

Yeah, this is the point, no one can predict the roller coaster. Some people try to earn from the fluctuating price of Bitcoin but not all people can do. I will hold my Bitcoin and sell it for a high price. Not doing sell and buy back at low, because I think hold is safe for investment. The holder is the winner in my motto

We could see a bounce on the 20 EMA.
That happenned on every dip during the 2017 bull market.

Currently, Bitcoin price had dipped down to 11% due to Double spend issue.

https://www.bnnbloomberg.ca/bitcoin-plunge-has-newbies-scrambling-to-google-double-spend-1.1551810
https://markets.businessinsider.com/currencies/news/bitcoin-price-double-spend-flaw-critical-report-suggests-2021-1-1029990921

This isnt something that is similar into those common Fuds in the market.Lets see on where this one would be heading.