Bitcoin Forum

From the looks of it at the hourly from March 3, 8:00am ET to now, there’ve been dumps followed by small pumps making lower lows and lower highs.  And I noticed the sell downs have been starting mostly around 8:00am - 10:00am New York time, 8:00am - 10:00am London time and 8:00am - 10:00am Hong Kong time...

Right now it’s around 6:00am New York time.  In a couple or so hours another sell down taking BTC below 45k - 46k could take place.

https://i.imgur.com/RbN21hD.jpg

but toke, if people don't panic, how am I going to get my 20k BTC again? *whine whine* My last two sells coincided with the dumps too, unfortunately haven't sold anything above 50k (don't be mad bro, just my bills and stuff).

Judging from journalist queries waiting for responses now, editors are also keen to see if the "bear is here" story's got legs left.

This is absolutely healthy and needed. I have no fiat left but hope we see 41k ish and stay at 40k levels for 2 more weeks. I know it's boring and we all want moon now. But still have plenty of time for the parabolic run in December. Nobody wants this bullrun to end too early.

I love your concept of posting mate from the part 1 and now to part 3 ?
you keep on pushing people to stay intact and not let the panic breake the market movement , there are lots of troubles happening this past week and we cannot answer this by Selling and disposing our coins .

Best if they will not panic since if they start to lose their grip for sure they will think about selling at lost and it's so awful to see that scenery since the next move for time is to whine out on social media about bear market already happen so sell all your coins  :D.

But I would love to see a dump since it will give us an opportunity to see a good entry on when to buy some cheap bitcoins.

As long as the price reaching 50K after the small dumps is healthy for bitcoin and day traders can make huge profits out of it if they are selling and buying at the right times.I am trying to stay away from the cointracker for the past few days so I can avoid any temptation to buy and sell.

That’s cos I think it’s all mostly just a shake out before another run up going to 60k again...  At least that’s what I think.  And from reading all the replies, it’s not only me...  I mean just look at the chart.  I feel like the fall is ‘too controlled’ for a real sell down if that makes any sense.  Def just a shake out.  IMHO.

I know what you mean. Usually you feel like the rug gets pulled from under your feet...
These dumps are more palatable...

That shakeout impacts the price to go down deeper without we can know when it will stop and bounce to the high price.
We can think that the $XXk price will be the lowest price that can happen soon, but we really do not know, so that can trigger the price to get the lowest price.
We do not want that to happen, but we can not do anything if the price is finally down for that lowest price. But we have a golden time to buy bitcoin at a very big discount price.
But somehow, I think the down is managed by someone who does not like bitcoin to back to the high price, but I am not really sure. I hope I am wrong about that.

But is this banishment not going to be long? I just expect that the market view will not be in a bearish condition for long but I believe it is not all about panic only in part, but it will become commonplace and come back to $50k.
But I think we better take the entry now if it recovers I'm just expecting it to come back and this panic will become common in the future.
A little bit of correction in my opinion.

Panic will cause for the crypto market To dump so better to not going to panic too because it will result for us to lost our possible profit in the future. Being calm is really helpful for the market to revive and to rise more and that we should do right now if we want to see the 100k dollars per bitcoin and the rest of the altcoins will turn into high price per coins.

The people selling now will be the ones going FOMO later on.
This phase gets rid of the weak hands. This is good...

new all time high 63k comingsoon mate !, of course we will reach the price of 63k, it's just that we have to be patient, because corrections always occur when the bull run, bitcoin is not like last year, because now there are more holders, and at least less volatility, make sure to buy the dip, because it's a great opportunity!

We're still bullish looking with this daily bar closing above 48k it seems like its more positive then negative to me

https://i.imgur.com/0LS20Y7.png

From what I can tell or guess in the spirit of market action, the ceiling overhead was a surprise to some who closed out their speculative positions early and this led to further selling and our test today of this possible support line.   However closing in this way suggests we are not done with trading higher and challenging these prices more consistently over the entire week perhaps.

I don't see why anyone would be panicking in the first place. We're just still in a correction, but $6000 higher than the bottom of the current correction right now. I don't know why anyone would panic haha. Correction has only been going on for 13 days and we are well above the bottom of it. It might spend a bit more time in the high 40's but I think most of March will be in the 50's and think we will probably be over $60k and heading higher on the next bull round by end of the month.

You are looking too close in the hourly chart. The daily look much better actually which I believe is going to go higher. Although the weekly could look different, there are still much-awaited things to happen due to this pandemic and the companies involved today in the crypto sphere that helps investors decide to pour money to BTC. There could be some fundamental news that will come that will help the price go up again like the City of Reno creating Renocoin or the likes.

It's too early for the bull run to end, there is still a lot of stores for us this year, 2021 is going to be a banner year for us, given that there's no calamity or a pandemic news that is going to happen, the market will keep improving, people should just take the correction positively and don't dump their coins, you will only regret later.

How is it healthy to stay that way? We don't know how the market behaves, no one knows actually but I think that growth is the best case for bitcoin, I don't understand how going down is healthy for the prices, I want to be enlightened. I don't think that the bull run will end even if the prices is steadily going up.

I would like to see investors now to panic because they might regret in the end but how can we buy Bitcoin at a lower price when investors will not panic anymore??

Lets face the truth. Whatever advices or tips we say to those investors, we can't remove the fact that there will be and will still be investors who will panic when a small/big correction happen. As a contrarian and patiently waiting for the big correction, I would be happy to see people panicking. That is a great opportunity for us investors to buy Bitcoin at the bottom right :).

For me, as long as we stay above the $45,000 there is a big chance that we might break the previous resistance that it made weeks ago at ~$57,000 and possible $60,000 too might be passed too. What we only need right now is a big catalyst/news that will make the crypto go higher than it is right now.

So I’m looking at the BTC/USD chart and a funny thought came in my head...  What if Elon Musk didn’t know he was buying BTC near the top and would literally be stuck like the noobs of 2017 who bought near the top of the last bull run.  :D

It's just normal to assume that there are people that would totally panic with the situation of the market today because they would think it's like the 2017 vibes or they just don't panic but rather getting profit above of what they have invested. Either way it's still in a highest price right now so I guess weak hands are the ones selling and starting to panic.

March month would be bloody red if the panic continues but it's a great deal too because new investors will be able to buy a dip/cheap price. I'm just wondering if the price will ever be down back to $20k-ish or even in $30k-ish but that's too much of a downfall if it's going that way that might trigger a huge dump or something.

That analysis by the OP sum it all, it is indeed an eye opener for dumpers to hodl and avoid panicking with so much ground to covered by the price this year all the corrections experienced by the price this resulted to massive recovery of the price and I believed the bullish runs of the market  will linger on till the end of year even now that the pandemic is being well managed so let us keep hodling to earn decent profit later in the year

Price correction for weekend was reverse because bitcoin went around $50k. Bitcoin is giving surprise to investors waiting for correction but that has not happened, the $48k range has been broken against the correction investors are waiting for. We just opened a new week and price has jumped above $50k, we don't know where the week is going for now as bullish candle are forming for

in the past we saw the price reach $20,000 and the price dropped to $15,000, people said: "don't panic..." the price dropped to $7,000 and people said: "don't panic" and the price dropped to $3000.

my point is:

It is normal to panic because no one can guarantee that the price cannot fall too much

if the price goes up a lot then it can also go down a lot

Its hard not to spike the market when you are accumulating 1.5bn worth of BTC for a single entity to hold, have we even had such a large transaction as this before.    Trades perhaps but literally this was bought to hold not to play a trade out.    My answer would be the same for any purchase, that if its to be used then it wont matter the price as the usage is always the reason to buy anything and its true even in finance markets.   I thought I would hear more detail by now why would BTC be useful to him, part of the supercharger fees process perhaps, cars do go internationally so BTC might useful in that way.   Price going down doesnt have to matter, I heard of someone who held from 2017 peak and sold higher recently and did they also utilise the Bitcoin meanwhile I dont know but it has some place as an asset.

Anyway in panic news we have DXY dollar index rising above 92 now and I wonder if we can speculate a trend of rising dollar.    Part of this due to rockets fired in middle east and fears there, its also something I was looking for anyway to happen.    BTC so far is fine with the dollar rise and is doing quite well holding higher.

the panic already happened and is already concluded too. despite all the warnings people panicked again too :D

right now we are experiencing another accumulation that price keeps going up and down playing around the $50k level. we've seen this many times in the past 6 months alone and we have to get used to trends like this because they will repeat a lot more until the end of 2021.

Many were still horrified in 2018 continues dump but they shoul already stop doubting since this year adoption really happens unlike in 2018 it’s just pure speculation, nowthere are companies who can back up or who might try to add more investment or companieswho might accumulate more during this dump.

It will always be faced with recovery from now on because the reality is that when the price goes down, there are people with millions even billions of dollars that see it as discounted price and buy it because they know in the end bitcoin will go up. Before this year we had regular people like you and me who bought and sold bitcoin, when we had money we bought bitcoin but when we needed money we sold it, there were of course traders who bought and sold during that period as well, it was just something that was limited.

Right now, we are in a level where corporations who have billions in cash that put some of its cash into bitcoin, not like they will ever have no money, they always grow their cash reserves because they make so much profit, whereas we are in a situation where we make a profit because they are putting just "some" of their money into crypto. This is going to change a lot for the world for sure.

Many used that history as their basis and that’s why many are panicking. If we’re going to analyze the current price of Bitcoin, we’re back to $51k and if we are able to break the level of $52k then we might go back to the peak again which invalidate the analysis of OP. There’s a huge chance for us to see the up trend again, we’re not on a bearish trend yet.

The situation that we have today is very different as compared to previous years. Right now, these financial institutions that keep on spending their money on bitcoin have good plans why they are into this market. I don't think they have short-term plans here. And look at companies like PayPal which finally accept crypto in their payment system. I don't think they are here for just short period of time. The up and down movement is just normal, but I don't think bitcoin will be dumped hard this time. The adoption this time is very different as compared in the last decade of bitcoin.

You are right!

This isnt something that we have seen back in the past but we cant really remove or get rid of that probability when it comes to those kind of chances of possible market crash because
there would be always that time where huge sell-off could really happen no matter how strong the adoption is.

People should learnt that we wont really be crashing out that easily compared into those previous years that we had experienced.I cant blame them though because that one
could really make or create some trauma specially to those who get wrecked badly.

Those candle images above of Op with having that presumption of pump then it did really happen.Those red candles didnt go deeper.

I agree on that bitcoin is now becoming more great and slowly become a part of our life many company's are nlw accepting bitcoin as payment, so this is really a big difference from the past. So there is a big posibility that bitcoin will not fall too deep right now.

*I dream every night that I can buy Bitcoin at the price of $ 10k/coin again 'lol'...
right now the Bitcoin price will be very difficult to get below $ 30k. which panic at this time is the small traders and miners who sell their mines. I still hodl a few satoshis for long term investment.

Bitcoin price is even moving higher this time, I expecting people will be in a panic when the dumps had shown up but they keep buying and holding causing the price to rally more. I don't see any panicking now, people have their faith in Bitcoin.

Maybe, it was hopeless to see Bitcoin price getting back to $10k again. The price keeps surging high, we are expecting the dump to come out after reaching the new ATH but the trend came different, we are even more moving forward.

It's not impossible for our dreams, let's hope we will able to buy cheaper bitcoin in the future and get enough profit. For now bullrun was still presently performing an amazing record. Time comes for a reversal and I had a visionary that when bearish market happens again, more traders will accumulate their asset and purchase bitcoin quickly. Because if that opportunity will provide more chances to late investors, bitcoin will pump 10x of its present value.

Since TESLA decided to invest in Bitcoin and many other institutions investing in Bitcoin. Finally, the performance of Bitcoin is very extraordinary,
even the increase in Bitcoin this year is very much different when compared to what happened in 2017. Therefore, even though there was a correction
in Bitcoin, it recovered much faster. So don't panic if you see the Bitcoin price correction, proven a few weeks ago Bitcoin correction to the price of
$ 45K, but not long after the price can go up again now at the price of $ 53k.

Isn't it funny and ironic at the same time, and maybe the only reason that it always repeat itself its because there are newbies who enter late in 2020 and thought that the price will go on parabolic rise, (similar to 2017 and early 2018).


We might see another all time high before the end of the month, when we see the price trading sideways, that's a good side that it's accumulation time again. Now it's another rally and probably be seeing $60k for the first time.

I haven't been affected with the recent market dump. I mean, if you have enough experience and has been a long term holder, those panic movements, suddenly sideways are just normal. If a particular long term holder and at the same time trader knows for sure where the coin will gonna go (whether up or down), you can not be affected with those small dumps.
 
 And panic traders (sellers and buyers) are already part of the community, without them there wouldnt have some corrections and recovery phase in the market.

I did Panicked when the price drops down to 43k recently and i can stop my self from thinking bad so i sell out my Bitcoin and 2 of my altcoins.
This is the most stupid thing that i made because after selling now the price climbs up to 54k again and i can't find way to re enter.
Sometimes panic selling is really a stupidest thing we can do in this market , try to avoid at any cost unless you are in badly need of money specially in bitcoin investment.

What happen way back 2018 is pure bubble since there's no strong foundation or adoption to rely on but things became different by this year so I doubt we can experience that the same  dilemma since big players are now in the industry we have so many things to hold on so if those big players are still intact on crypto's we can say that this current growth will continue and there's nothing to worry about those dumps since nowadays its so normal.

Yep, bitcoin's narrative has change in 2020, yes, still a speculative asset, but it become a hedge to companies balance sheet. So that alone is a good foundation because those companies are not going to sell at profit unlike speculators, but rather would hold bitcoin for years.

As other mentioned, dumps are just normal cycle in crypto, and we shouldn't panic and understand that it's fairly common event.

I know it's almost challenging destiny or however you want to call it haha but yeah, in 2020 I was just praying for so long that sub 10k levels would stay as long as possible. Even when we crashed to 3k I was fine, I mean psychologically I'd been mentioning long ago my mind priced BTC at $4k, for some reason. And it was only in 2020 mid onwards that I was ready to up that mental barrier to 10k so that's my new "worst-case scenario price" right now.

That's true, it is not like today, it wasn't anywhere close to this situation and that is why I think we care about what is going on this much, it is obvious that we can't really make it work without those huge companies these days, but the reality is that they can't keep buying constantly to get richer without dropping a bit and buying from there neither.

So, right now we are in a situation that is nowhere near that 2018 level, we are in a situation that is brand new, we are living in a period where we may never fall down again as long as these huge companies make that profit back and keep buying and thinking it's good. Plus I have realized that the more money you have, the easier it gets to make money as well because you can actually make sensible amount of money, people with 100 dollars could make 5x of their money and it would still be just 500 whereas these companies make billions, that is a lot of money even for them.

The dump that happen in two weeks ago it was just a correction, if you use weekly chart time frame then you will see when its price touch the 61.8 fibbonaci ratracement its price just find a huge increase and as we can see until now.

Also, a few days ago the stimulus from US government has been issued and some instutional companies has also added their capital to buy bitcoin. This is what will make bitcoin price touch $68.000, yeah I have a prediction that bitcoin in a few days ahead will touch $68.000.

Post the graph. Sounds interesting  :)