Bitcoin Forum

Hey,

What is your opinion on the bitcoin price crash? I am trading with the Bill Williams trading system and all looks good on the weekly time frame, and on monthly its like nothing happened! what do you think guys and what indicators do you use?

cheers

Today i see that some negative news is come on market regarding Crypto currency.  And many experts said that this news is the best reason for bitcoin dumping and for this Bitcoin all crypto market has crashed. But market will recover as soon as possible.         

The Tax policy changes by Biden is being said to be the reason behind the crash.

Although my opinion is that such news bring about the obvious need for a correction in an overbought market. It is natural and should be carefully taken advantage of. This drop is temporary and those who have not be able to buy because price was as high as 64k USD/BTC, should take the opportunity to buy at this lower strata.

One might not want to buy right away but wait for even lower prices which is logical as well.

The use of indicators is limited. TA is not always correct but there was the probable indication of a drop due to any reason because the asset was overbought. You can use any indicator you want, there is no hard and fast rule about them. But what actually matter is your ability to use the market movement properly. You buy at the FUD and sell at the FOMO - no indicator will help you to that extent. Those decisions need to be made by your skills.

My take on this crash is that it is nothing to worry about but instead it is the golden opportunity that people have been talking about in terms of buying bitcoin at a lower price.

Nothing to worry about because it always happens many times. As usual, I am still trying to trade bitcoin pair altcoin or bitcoin pair usdt and search which pair can help me make a profit. But I admitted that this recent day is hard for me to get the right coin as many coins are not moving as before, but I won't give up because I know that I need to try hard.

I am sure bitcoin will increase and the price will start to rally. We need to have patience and do not give up searching for the potential coin that can bring us profit.

Like I said earlier there is nothing to worry about, this crash usually happens and this is not the first time it's occuring, there's a thread that highlighted the causes of the crash, here are the reasons behind the drop.


It's just matters time for market to recover again, never get feared.

So many reason for the dump and the panic is still in the market, after that we'll see a slight recovery.
This happened already when bitcoin hit the price of $20k before, so many negative news but look at now, the price made its new all time high. Yes time will come for the recovery, we just need to wait for it and be patient, this is an opportunity to buy grab it now.

I don't care about the bad news about bitcoin these days, because whenever there is a lot of good news before, there will also be bad news to come, and events like that are bound to happen in any field or industry.
So for me it is normal and depends on the individual how to respond and not to worry, and what happens in the market is better to HOLD and take advantage of the decline to make purchases and hold for the long term.
I am still optimistic that the 100K achievement can be realized this year.

If we look at its chart you will see that ever since Bitcoin has taken off you will see that its volume isn't really supporting the price rally making its "bullishness" a lot weaker. I've said this before that without any kind of increasing volume there will be no support for any kind of price range specially if it continues to go up and up without any volume supporting it, every new ATH will just make it weaker and weaker and making Bitcoin more susceptible to price crashes and corrections that is why we are seeing a lot of them lately.

Buy low, sell high. That is my opinion. What does your weekly indicator tries to tell you? Do you trust your instinct and your system? As far as I know, in order to be a successful trader, you need to believe yourself and the tool you use to enter the battle with the market.

Im only in love with price action. Sometimes I read other techniques so as to help me realize chart patterns which I cant recognize with price action. However, the more tools you use, the more confused you are. Try to make your charts as simple as your breakfast

Deeply Red charts is the better place to buy more bitcoin. Think of each drop as buying bitcoin at a cheaper or discounted rate.
The price has stabilized at $ 48,000, which is a psychological barrier. We will not get any further decline, and we are likely to return to $ 55,000 levels soon.
Buy the dip and enjoy free gains.

 ;)looks like you are right and is recovering. I was expecting to drop to 40+\-

Lol the truth is that nobody knows the answer to this question that you have asked, and as usual all they are going to be doing is to be guessing the answer to it. Some have said that it has to do with Biden and his tax policy changes, then there have also been those who said that it is something that has to do with the lights out in china ,since a lot of bitcoin mines were affected by the lights out.

I don’t know the current situation of things there, but hope it got better. Then I have also seen other things being said, but I am not sure about them.

That  Money Laundering clip reports (https://cryptobriefing.com/three-reasons-why-bitcoin-dropped-below-51000-last-night/#:~:text=Money%20Laundering%20Report%20Clips%20Bitcoin&text=A%20drop%20of%2012.3%25%20occurred,for%20illicit%20use%20of%20crypto.) that push US Treasury to investigate this act. Its one of the reasons why bitcoin dumped below $50,000.

If you are a long term holder, you wont be panicking about the recent dump. This may be some kind  of corrections, the market will gonna recover and will go back to the bullish trend. Of course, an opportunity to most of us to accumulate more for this bearish season.

What happens is that this is a natural fall, a setback that is normal in the markets, many investors and veteran investors like Peter Brandt think that it can reach $ 43k, which represents a 35% retracement after having reached its ATH, he does not panic, he just decided to go ahead and wait, normally this kind of confidence is because they must have privileged information, that is, they may know that the price will be reaching their ATH very soon and possibly have another one, at least. PlanB gives very good hope, for PlanB April is a very bullish month by nature, but we must also take into account Coinbase's foray into Wall Street, in some way many investors can be guided according to this participation.

At the moment it is very difficult to be governed by an indicator, or a tool, I think the best thing is to be patient since there is a lot of uncertainty in the market, according to PlanB, it is most likely that this 2021 will continue to have a more bullish trend on the part of Bitcoin . I invite you to read the article: https://cryptopotato.com/this-was-not-the-top-of-bitcoins-2021-bull-run-according-to-planb/ (https://cryptopotato.com/this-was-not-the-top-of-bitcoins-2021-bull-run-according-to-planb/)

I have no indicator but just getting updated with the news or if there's a flash crash, the reaction should buy some more. It's all that I've got to do whenever bitcoin crashes. If bitcoin recovers to $51k and so, I think that the flash crash has just taken the newbies money and they've bought already during the dip. It's just some whales have cashed out and that entirely made them more wealthy again. Such crashes shouldn't be feared of if the plan is to long.

The simple answer is, it is in the very nature that when Bitcoin reaches its peak price, there will be a bigger problem that it deliberately collides with the highest price of bitcoin. from the past until now the pattern of dropping bitcoin prices with negative news is a still effective strategy to trick big holders into releasing it cheaply.

Reason? This might talking about
"Bitcoin falls below $50,000 amid tax-proposal anxiety"

https://www.livemint.com/market/cryptocurrency/bitcoin-briefly-drops-below-50-000-amid-tax-proposal-anxiety-11619147211183.html

and also with that hash rate drop
https://news.bitcoin.com/bitcoin-hashrate-drops-xinjiang-blackouts-blamed-btc-price-slides/

It was a main reason for the dump in bitcoin price over a long period.Whenever the price of bitcoin had reduced, it will back to normal or original price in a short period. But in this case the price dump was not recovered yet. It was unacceptable news. Most of the active traders also became a passive one now. It only recovered with a period of one more week.

They may be contributors in what is happening in the market. But we can't tell for sure if they are the major reasons in this correction. Or is it just time to have this correction as we are being spoiled of this continuous increase in the market? We know, correction is just around the corner but a lot of us hope that it will continue to increase, but guess, it is time for this drop. And people who are asking this kind of question. What are their expected answers here? A consolation that we will go up again?

Just continue using the weekly time frame because if you take seriously the current corrections, it only affects your trades and might cast you out.

I usually use the candlestick indicator but considering the market volatility, everything still unpredictable. The crash, price corrections...we are all seeing this most of the time and we have to expect this seeing again in the future. So if you are willing to take the risk in trading, then you must have to consider facing all of these things.

whatever the reason is for sure the fall of bitcoin need not be worried, bitcoin is just undergoing a correction and it will not last long bitcoin will still have the potential to be pumped like in the crypto bull run some time ago

I think its just a correction and no more. And every market takes correction so don't worry. Just take some time to market and it will recover soon. I am also in loss on some altcoins. But i am holding these coins until it recover. If Bitcoin is above 48000$. it means that it is in bullish zone.

Probably it was just a market correction.
Actually, I'm happy to have this kind of event in the market as it gives us the opportunity to buy more Bitcoin. Every single dip is a chance to buy and every hype is also a chance to sell.

I simply don't ignore the volatility of the market, every time we have to experience pump and dump trends. But sometimes we've been surprised as we can see that there is a huge price decline. We can't neglect such feelings as normal people but let's don't so bother so much as it leads us to make wrong decisions and mistakes.

Well the dip is pretty normal but of course there are reasons behind it. At fridays usually Future contract ends so it may have impact on it. Also Turkey banning crypto and closing one of their biggest exchanges for sure influenced the price.

Ever been here before like when it went from 8k to 4k?
It is just like that.
Aside from what others mentioned here like laws imposed and taxations, it is just BTC being BTC.

Bitcoin is now trying to bounce back, the cycle always happened and if you are aware with how things works within this market you'll be able
to catch up and remain positive. No need to worry that much, as along the way this correction will undergo to another bull pump.


Those news have some weight with why Bitcoin is suffering but days will come and those bad news will expires.

Keep yourself updated with how the market is moving, very important in order to assess and position yourself in whatever decision you'll going to take!

What is that Bill Williams trading system? It is about a broker name where you are trading cryptocurrencies or a strategy you are making use of? I guess I must need to google to enlighten myself more on this. I guess your weekly timeframe is not lying to you as today we are seeing the bitcoin market is slowly recovering and currently trading above $53k price levels which must be very good thing we could have right away.

My personal opinion about the recent bitcoin market correction (definitely it was not a crash) is, it is just part of market and people who are always believing into the future of bitcoin might have used it to get more bitcoins at cheaper price levels.

The market experienced a long-awaited correction. And this is a rather small drop, which is surprising for such a long period of growth. Although there is a crypto spring now, bitcoin will not grow strongly in the near future, since it has not yet worked out all its correction waves. I advise you to pay attention to shitcoins because the dominance of bitcoin is falling. They will be more active. Many altcoins do not yet have very high correlation with bitcoin and short cycles. This is a great trading opportunity. And Bitcoin is likely to get stuck in corrections anytime soon.

I think that such news is trying to explain the dump of bitcoin, after it took place. In fact, there was a correction of bitcoin, and with it the rest of the altcoins, because there can be no continuous growth. Although this correction could change the market to bearish if bitcoin continued to fall.

Some FUD was there regarding Joe Biden, the President of USA is increasing the Long Term Capital Gain taxes to 43% which is outrageous, but it was a FUD as we all knew, And then there was a FUD that Tesla sold its Bitcoin holding and in turn, Musk is also selling which was again fake news as Elon Musk himself clarified it as just a Liquidity requirement of Telsa and he didn't sell any of his Bitcoins. The price is already reaching 55k price and we may see another ATH in the month of May.

We have gone through this for many times so nothing to be worried about it. Just trust the process for the pumps and dumps are happening to maintain the balance for not getting too high nor too low. Just seize the moment and grab the possible opportunities that you can see and acquire whether Bitcoin is on a dump or into the pump for there are always two sides of the scenario. Just always look into the bright side not to get frustrated on how things supposed to work on.

indeed at the previous time bitcoin had crashed and I think the percentage was not too significant compared to the increase in movement. with the fake news that happened, of course this opportunity was used by the news maker to buy more bitcoins, in order to reap big profits

For now I think that Bitcoin has fallen in price because investors are putting their money in some altcoins to take refuge and react quickly to any market change, with the volatility that has been unleashed since April 14 when Coinbase's Coin entered Wall Street Many think that for this reason it fell, others think it is because of the US fiscal situation that Biden is raising.

However, the movement may turn bullish, according to this technical analysis they may be very accurate in the short term:

https://i.imgur.com/7uqLxBv.png

Source: https://www.newsbtc.com/analysis/btc/ta-bitcoin-price-gains-traction-heres-how-btc-could-revisit-60k/ (https://www.newsbtc.com/analysis/btc/ta-bitcoin-price-gains-traction-heres-how-btc-could-revisit-60k/)

However, this analysis can be invalidated in the event of any bearish eventuality, in these moments of the market anything can happen, many times what the masses think, the opposite can happen.

It crash in the past days and now, we've been above $50k again.
Bitcoin shows an impressive market growth, in fact, we've been thinking that we turn to bearish as we saw a hug decline and more investors moving to altcoins but it is different looks that we experience. I'd realize now that our speculations are worthless and 100% not accurate. And it was sorry for those who sell their Bitcoin during that day. 

I certainly believe a strong factor that makes the Bitcoin price pullback is the crackdown of cryptocurrencies in Turkey. I think there are a couple of Turkey-based exchanges that were closed and all of the funds of the users are in limbo. One exchange had all their bank accounts in Turkey closed, while the other one fled to another country. However for me, it is also an opportunity for us to buy back while the price got lowered.

There are other factors as well to be considered for BTCs downfall the past few days aside from the Turkey crypto issue, especially that they consider a ban on cryptos being used as a payment method for buying goods and services (but not trading or mining).

The market has recovered smartly. I think it is the usual behave of market. Market os tough place where anything can happen so that nothing to worry about when we see a deep downtrend. I think it is the fact that we love btc which helps us to get a good return. I always analysis the market when i see any deep down fall and put my money in. That's how i always get a good return on bull market.

Yeah bitcoin market has already recovered and trading around $54k levels very strongly hence I guess there will be no pint of keep discussing about the old things. I mean the recent crash has become an out dated thing but some people still looking for reasoning for what caused that dumping. I guess we must need to move on by accepting that like just another usual market fluctuations.

It simply shows us or reminding us how volatile the cryptocurrency was right. And yeah the market has recovered fast and smartly but this is not mean that the dips, the price correction wouldn't happen again. For me I can't find any other reason for a sudden crash of bitcoin price other than a price correction. In fact it is always happening and we might wait till the next pruce correction will going to happen again. Or I guess I maybe so early to assune that we are entering a bear market right.

bitcoin price is slightly going down right now but surely it will be pump soon. just hold your btc for a while and you can also convert it to alternative coin then trade it so that your funds would be efficient and would gain you more profit comapre to holding bitcoin your fund would be sluggish .

My opinion with the recent crash, I think that it is a good opportunity to buy some bitcoin at a lower price and don't be discouraged by a lot of FUDs that says the crash is the end of bitcoin, remember that as long as users are trading bitcoin, it won't die. Bitcoin's lifeblood is the users that participate in its economy.

Have been hearing that "world ends" type for bitcoin thing for several years now. Dont know what makes people listen to that anyway.

No-coiners are there often trying to demean the value of bitcoin and make it seem that it is not worth putting money in. So they tend to focus on the negatives more and consider every crash to be the last only to be debunked again. I believe their knowledge of how speculative assets like in stock market as well, is lacking. Any veteran trader on wall street also know that markets once crashed will rise back up again, all part of a cycle.

Fellow user, this is where some of you go wrong and will end up losing more. Altcoins are a type of a distraction to bitcoin traders. If you are going to make money, you have to brush away these distractions. Going into altcoins the possibility of profit at a low risk is greatly converted to a high risk. But if that is fine with your then by all means do so.

yesterday's crash lasted only a short time, perhaps because Tesla sold bitcoins on a large scale, which resulted in them making huge profits. but after that the price went back up until now which tends to be more stable. but for me personally who only have limited capital, I have to be careful when buying bitcoin at this time, because for me the price is already high

  that crash is due to some correction in the market and small dump of some holder in my view wherein perhaps it cannot cause something scary situation afterwards in my opinion ... And when it comes indicators i actually use the basics tools when it comes trading such RSI, bbw, bb. Since still accurate to use when making prediction of the situation of the bitcoin.

Don't you wanted to ask now what is the reason why Bitcoin is now Climbing? because you have already asked the opposite in the last week of April and now that we are in May ? we are now growing up and up.

at 57,000$ and above now? do you think that we will be taking the 60,000 again and we will be making our next All Time High?

I think its price was mainly influenced by the negative news background from cryptocurrency experts. Also, the price collapse occurred not without the participation of whales, they also directly affect its price, I would even say most of its fall, I think this is their merit.

I don't have any indicators I only see market conditions if the decline in bitcoin is just a pure correction.  look at the current market conditions, the price of bitcoin has increased dramatically and you need to see this is purely a bitcoin movement, there is a pump and dump

Sometimes negative news is what makes bitcoin fall even more and the news is like a temporary time-destroying bomb for bitcoin. but I am still optimistic when bitcoin has decreased, my opinion is still the same, which is only temporary and the price of bitcoin will return to increase after correction,

Thought as much and it's quite time we stopped crying about every dip that the market experiences. The cryptocurency market is known for her volatility so it's kind of funny when the community cried at every dip it take also knowing the market is likely to recovery in the shortest time possible. The dips are needed for a continuous growth if the market.

Without this corrections, there won't be room for new supports to be created and avenue for new investors to come into the market. You just have to seized the opportunity when they present itself and refill your bags. The dips brings another opportunity to buy low don't chicken away just because you're thinking its a dump.

You'll also notice those that cry the loudest in a dip/correction/crash are also those that cheer the loudest when there's a spike or pump.

Crypto's lovely because it's so exciting and turbulent but if you can't learn to love the crash as much as the rally, then it's really not the industry for you, yet people just keep on coming on the train and getting disappointed when the fun part ends:)

Yeah, it is all about your patience and belief on the future of bitcoins; people who never finds time to learn about the future of bitcoins, will definitely leave this space with big disappoints only. At the same time, people who are believing into making themselves competitive will definitely go making use of all volatility of bitcoin markets in both directions. I am the one joined bitcoins for simple reasons of faucets but now adopting it with all my life's saving because God's grace I found time to learn about the potential of bitcoins.

We are regularly seeing that people are always suggesting to make use of dips but whenever there is a dump in bitcoin markets, we do see only negative thoughts only. Rarely people do learn from others experiences.

It's pretty amazing to think that most of us here have lived through at least one other cycle before and many more have seen even 2014 cycle and yet the lessons are still so hard to grasp for the veterans. Getting disapppointed once, okay fine, it's a lesson we all had to learn and go through on our own.

But getting disappointed again and again? I don't get it:)

There are many things going on your favor, you are one of the first newbies that I see that is actually following a strategy and not just trading with their emotions and whatever feels right, and because of this you are seeing that despite the crash that we saw there is nothing to worry about, congratulations, you are on the right path and you will eventually make profits if you can keep it up.

Now about your question, what we saw was just a correction, it was an important one but that is the kind of thing we see in this market from time to time and I am not worried, and even if this eventually means that we see a crash I will see this as an opportunity to buy bitcoin one last time for a cheap price before a new bull run.

Instead of being pissed better to continue moving forward, it's unavoidable to experienced mistakes while

working inside this market, not even veterans or those experienced traders can say that they continue to

make money without losing in some point, best practice is always to assess your system, keep adjusting

to prevent regretting from yoru last attempts.

Yes, people here must need to understand how the crypto market is trading among corrections and recovery phases; today we are seeing market is getting back to recent high which must be the enough reason why we should not bother about any short-term correction because market will not continuously rising up so we must give it to time to get power through corrections (corrections are sometimes termed as power gaining phase of market).

When market is not powerful enough to break support or resistance then it will have small correction and then will recover to break that support or resistance.

It doesn’t really look like it’s good on the weekly chart now, the price kept crashing  a lot of times and even the daily chart isn’t looking good as much as I have expected. As of around April we all believed that the drop had to do with the blackout in some part of China, and then there are also others things we believed contributed to that.

I guess the effect is what we are still seeing at this time, or maybe this is just going to be the normal up and down. The majority of the coins in the market has been the same way, they are all going down in price . There can still be an upturn anytime, so let’s hope for that.

That is the way this market should be understood but newbies come here with completely unrealistic expectations which are the main cause for their losses, after all it seems they think they can invest in bitcoin and then become millionaires a few weeks later and while it is possible and it has happened in the past this is not something that can be replicated.

The best strategy for newbies will be to come to the market and buy bitcoin when it is relatively stable, which is what we are seeing right now, and then wait for the market to begin to grow up, but most of the time they do the opposite with the majority of the newbies being right now invested in altcoins thinking they can obtain more profits that way, and while that has been true during the last months there is no doubt in my mind that a crash on the altcoin market is coming and you do not want to have your money invested there when that happens.

Without proper knowledge, the risk is too high for all those newbies that have a mindset that this venue of investment is a quick passage way to richness.

With such mentalities any corrections that may happened will be a sign of having lots of panics and money that has been invested will surely gone.

They needed to realize that trading is for those who are willing to work more harder to succeed, not by luck but by knowledge upon them.

After every correction of bitcoin markets, I am seeing some people are crying out like this. I mean these people are never ready to learn from others' mistakes but they will keep on committing old mistakes again and again. I'm not sure when those new people of trading start their real trading only after gathering enough knowledge and experiences. Because, only that will prevent people suffering from usual market corrections.

When traders are not able to survive against usual market fluctuations then I believe they are not at all suitable for crypto trading. Instead of struggling, I believe they must quit.

If they are struggling, they are not doing it right. A person who sells at the wrong time or buys at the top is going to struggle with losses. That is not how trading is done but most newbies will make this mistake.

The price of BTC dropped heavily yesterday to 42k USD and today has recovered back to 45k USD. This should be a sign that people bought at the low and therefore support is being developed. But if follow a celeb who is pumping and dumping the market you will get washed out. Never should a trade follow the opinion of others to trade but develop their own methods and analysis because after all, the analysts get paid to say the obvious on news sites but a trader has to depend on the analysis for their profit.

Sure I do and it's obvious the cause of this, the bull market brings in new gamblers and also greedy, fast money seekers. These set of investors are those that cry when the market is dumping why, because they were only in for the money and thought they could get in and out without experiencing any loss.

Most of them took out loans just to invest basing their judgement and prediction on what the so called influencers (cryptocurency experts) have predicted all over the media most especially social media and how stories has come out of investors making thousands of dollars in the shortest time possible.

They lack the experience and that's what's is killing them also they don't have the interest of wanting to learn the ways of the industry instead just chasing the money and majority end up regretting (losses).

That crash is a completely correction , some investors and holders had just taken their profit so the price will surely move.

But the next one in which happening now is a generated dump lead by Elon Lusk and His troop to prove the crypto noon about their power over the market in which not true.

It's just happen that there are many fool holder that follows whatever this man says and end up shaking the market badly.

I do not use indicators in cryptocurrency trading, however, I believe that the fall in the price of BTC was due to at least two factors. The first factor is the opportunity for large players to get BTC at a low price from people with weak hands, from those who could not stand the fall and sold their BTC. The second factor suggests that in order for the BTC price to reach its maximum value this year, it is necessary to periodically lower, thereby creating a sideways movement. This is necessary in order to drag out the time until the end of the year, where the main phase of growth is likely to be. In simple words, it is too early for the BTC price to go up strongly, which means there should be another correction.

I think negative news has a huge effect regarding this bitcoin price dropped. Many bitcoin holders sell their bitcoin for profit and the demand is not huge enough to maintain the higher value of bitcoin. But I believe it will not last long because whales are waiting to buy in a dip.

Negative news or FUD did have an important role in the fall of bitcoin prices. However, the FUD that is reported must be published in the big media or shared by accounts that do have a lot of followers and are influential, such as Elon Musk, who recently gave controversial tweets that made bitcoin prices crash.

The fall in bitcoin prices indicates the bitcoin market is getting saturated and it is time to go down. Having spare capital would be very good to buy at a cheap price.

I do not use indicators neither because those are only viable on calm days, sure if there is no huge movement then the indicators could be worth something but no indicator could predict Elon Musk tweeting and dropping the price or increasing the price, so I find it useless to check on indicators.

I know some people see that as ignorance and I had a friend who mocked "what if a meteor falls to earth!!!" like tweet is not something we should consider when trading, but as we have seen for the past 6 months I was right about tweets shaping the prices. However one more thing is at play here, the reality is that we are doing fine even with those bad tweets, and those large players you talked about are still very much interested in bitcoin, they are really doing something special with that much money going into bitcoin, it is slowing down a lot but they are still there.

We know cryptocurrency seems to be vulnerable to news from influential people, after Ellon declared his departure from bitcoin, a slow reversal occurred and until now the price has tended to fall 30% in the last 7 days. it is possible that this will be used by other parties to plan purchases

as a hodler of btc the btc crash is heart breaking to me but this was more of an expression and i dont carry it too deep because i understand that this is one of the consequence for hodling a btc .

 why wont you add another system .
a system that can work in monthly because you already have for weekly but how about daily ? didnt you love daily trade .
 im currently using a system specialized for daily

It can go to that direction but also possible that it won't be taken by new big investors thinking that this business is just easy to manipulate.

Most of those institutional investors aimed to go for long term and they don't want to see falling market in an easy way, possibilities that they'll going to investigate and assess more before participating to this kind of industry will be their first moves.

It's not just the negative news but also the current decisions of different entities that contribute to the increase in the prices, Tesla suspending the payment of bitcoin for their cars and China banning crypto altogether are just one of the most notable decisions that are causing the prices to go down.

Maybe we could say that it really has a devastating effect on the market but I never think this having a long-term effect on the market. Tesla suspends BTC payment, China is also banning crypto but there still a lot of business entities and countries supporting crypto which could help the market to recover shortly.
I'm looking forward to seeing the price of Bitcoin will not able to drop below $30k.

the indicator I use is only the RSI indicator, if you look at the RSI indicator on a weekly basis, the Bitcoin price is above or overbought,
of course it indicates that the Bitcoin price is too expensive, this is before the dump, and see what happens, the Bitcoin price dumps 30% in just a few days,
make sure you always check the market and its conditions, because reading indicators is very important mate

The China ban is probably just another propaganda and FUD to send the market down. We've been hearing that a long time ago and yet the world still shocked when this news has came out. These negative news affected the price and hit it big. IIRC, when it was on 2018-2019, those news positive or negative don't matter a lot. But because we're in a bull run, it has really affected it and that's why a lot have sold but there's sure thing on this. Many whales have sold at profit.

It is not the first time that China fud has been shared and it caused dump in the past. The fact that it caused another dump this year means that a lot 9f the new crypto users and investors panicked immediately they saw that news from Reuters about the new ban. I don't know why China fud always get to us and crash the market. My guess is that in the first few hours, it sparked the first selling pressure and then others joined in the dumping parade.

I doubt that what we are seeing has anything to do with investors taking profits, this has to do with retail investors investing too much on the market and panicking, then this created a reaction among traders that sold their coins reducing the price even further.

Then we got people going long with a very high leverage getting their trades closed introducing more coins to the market while reducing the demand creating a crash in the process, to me that is the most likely scenario I can picture as it does not make a lot of sense for long term investors to take profits now when what they are most likely doing is buying bitcoin at a discount at the moment.

It is all a cycle. BTC might be low now but it could also keep on going up, the issue is that we and nobody can predict what the market is going to do. This is why risk takers are sometimes rewarded big.

To put this in perspective yesterday BTC price fell to 30K now is hovering close to 40K - easy win for somebody with a high risk-appetite. It is the way things are, you're either in the game or not, and if you're in you can lose or win. It is all about timing and knowledge.

Yes, it's not the first time. And also it's just another fud that whoever was behind it wants to see the market below again so they can inject their plan of buying the dip. Usually this is the move of the whales, they're the ones who do this if they've missed buying the dip and that's why some news really affect the market while it's going to a natural process of growing and going through a correction. There's a selling pressure that has been done and those who have sold have taken their profit and again buys the dip.

Big players like institutions and some whales have already left the market with their profits. Psar is already saturated and overbought. The decline in bitcoin prices this time was very drastic and was accompanied by many FUDs in circulation.

This is indeed a good opportunity for institutions and whales to get into bitcoin again, but it's still waiting for the right time and then bitcoin bounces up again.

FUD and some speculation about bitcoin have been arranged in such a way, whales are in full control of bitcoin price.

The recent fall in BTC I think had a lot to do with the "Elon Musk" effect, something had to do with it, but in addition to this, what I am most inclined to do is that the market fell due to simple speculative action, that is to say For those traders or investors who wanted to buy BTC, the best way is to buy cheap, and taking advantage of Elon Musk's FUD, it was easy for them to go "Short" en masse to get BTC out of weak hands.

And it makes sense, the price of BTC has already had a recovery of more than 9% today, of course it cannot be said that everything has already happened and that it will already reach $ 60k and it will generate new ATH, I think the more they continue to take bid levels between $ 40k - $ 50k this will be fun for those who bought in the dip, they may want to keep buying.

The issue of China baned crypto is not new. Likewise in 2017 when China made the same statement as today regarding crypto. I think this sentiment has often been carried out by institutions. but the impact of the decline in the current period if I observe it is not as severe as it was then. people tend to be more confident and optimistic about staying in the long run. they are not prone to negative issues

China did make a controversial statement again. But it is clear that FUD was deliberately created to destabilize the Bitcoin market. people who have been around since 2017 and have experienced the same incident are already understanding and stronger, but new people certainly tend to panic and be hit by FUD, causing the market to crash. Bitcoin needs Good News to make the market better, but a lot of FUD is currently spreading.

For sure to those who are on this market for a while specially on that 2017 did eventually able to familiarize on the same events that is currently happening into this market right now
on where involvement of China is here once again to make out some drama and make some another price market fluctuations which is no surprise that they do always come up with
an idea on how to make the market do go below once again.IF you are just new then you would normally freak out but if youre old and experienced
then this is something that you cant just easily panic and rather see this as an oportunity or chance.

It must be the worst feeling when someone takes a loan and invests in crypto especially after what transpired recently. People who recklessly invest in any coin based on these Twitter and whatever social media influencers hopefully have learned their lesson. Investing alone was horrible and imagine someone took a loan, they might even have suicidal thoughts now.

The ones who invested in BTC might actually be the best ones though because overall and in the years to come, bitcoin will again regain its All-Time-high but I cannot say the same for all those worthless coins in the market. I was looking at the charts as the crash happened and I was shocked to see that every coin dropped even more than BTC in terms of percentage which shows no matter how big the altcoin industry is, they are always going to be under the BTC influence.

You can utilize any marker you need, there is no immovable standard about them. In any case, what really matter is your capacity to utilize the market development appropriately. I am certain bitcoin will increment and the cost will begin to mobilize. We need to have persistence and don't quit any pretense of looking for the potential coin that can bring us benefit. I feel that the blaze crash has quite recently taken the novices cash and they've purchased previously during the plunge. It's simply a few whales have gotten the money for out and that completely made them more rich once more.

Hmmm, well, sometimes the daily chart will show you a decrease (the red signal) and the weekly and monthly might be showing you green when you switch to it, and that’s because the price hasn’t fallen as much as it has increased over that long period of time. That’s the reason you see it that way. But, you have to be paying attention to that and also b doing your analysis to know whether to move before things gets worse.

If there is a better coin that you can switch to while you wait for the one you’re investing in to get better, you can do that and save yourself from loss. And when things gets better you can invest back in it again and wait for the price to go up again.

Yes, I agree. China recently statement affects the current situation of the market. I think they are doing it for something. They already banned cryptocurrency and yet they released again a news regarding the cryptocurrency which is very bad for it. Elon Musk recent statement about the environment concern in mining cryptocurrency and the same reason of Greenpeace that they will no longer accept BTC donation. In the time like this, selling is not the option. It’s either you buy the dip or hold until it recovers.

China had been banning crypto since 2019, and I don't think the recent news has any great effects in the market right now. It just happens to coincides with the "Elon Musk" and "Tesla" news recently.

Though if we are talking about a low price crash after the elon musk news, then maybe there is.

Is this a real coincidence of the market or some mysterious department that has arranged the events piled up in the most logical way? This is the question that the crypto community is very suspicious and worried about, this collapse seems to be the general guideline of large investors, ask them to take profits quickly and force the price of bitcoin to drop after the great emotions it brings. Elon Musk opened the show and China ended according to their wishes, when fear was covering the market, many people were no longer awake to understand more about crypto

Numerous specialists said that this news is the best justification bitcoin unloading and for this Bitcoin all crypto market has declined. I'm certain bitcoin will increment and the cost will begin to energize. We need to have tolerance and don't quit any pretense of looking for the potential coin that can bring us benefit.

What China is doing to make Bitcoin price fall is not the first time, I have been in the crypto world for a long time, so with the current market
situation there is no need to panic. Because events like now will definitely happen again in the future. Actually, we must be able to take
advantage of the present situation to benefit us in the future. We can start collecting some coins that are considered good to buy, because all
the coins are now at very low prices, therefore this is a good opportunity to be able to buy coins at low prices. Which benefit will we get when
the market successfully recovers and the price of all coins can go up again.

It's hard to say, I would not attribute this to an ordinary FUD from Ilona Mask or a Chinese, obviously this played a role, but whether the reasons are obvious is another question.
In any case, under the FUD sauce, they feed us the story that the market will grow up, but I think this is a trap and we must fall even lower and be in a flat before a new round of growth begins.

About bitcoin crash only I can say is buy now! There are some negative news about crypto currency that caused for this sudden drop, so just hold on and don't panic sell your asset, wait until market recover and bounce back again. While waiting just take this dump as an opportunity to buy more bitcoins and altcoins to have a huge return in the future. That will happen if you believe in bitcoin and some altcoins to grow and have a good future. I believe, new ATH is coming just have patience.

Market won't rise forever, however never a bad idea to re-balance your portfolio if the crypto market is down. I've been in this market for more than 4 years and this is simply one more side of crypto. Absolutely never sell, until you get the value point in your mind. For what reason would you ever take a loss, when everybody is simply waiting?

I think it does not really help us to wonder what,,, and just accept that it is all part and parcel of the crypto cycle. Whether we know the reasons or not these are all posthumous so does not really change our intentions for the long term. Short term it means we buy more if we can or just switch off and enjoy life and earn fiat salaries to buy cheaper crypto:)

Whales just want to buy bitcoin at a cheaper price. The fuds few days ago were planned by those people to shake the weak hands and create panic selling. Institutions are not even selling so there is no reason to do it and lt is not also the end of bull run like what others say. Cryptos are very volatile so we should not be surprised with these events and get used to it. Just buy the dip like everyone is saying when these crash are happening. Market will not always go down, here in crypto world the one with the strong hands to hodl is the one who wins in the end.

You just need to focused and not being bothered by this current market, if you do believe that it will bounce back

then collecting more assets is your first option, not just by buying bitcoin but also to try finding good alts that have

better potentials, those projects that still surviving even the market continue to move up and down.

Once again it is proved that cryptomarket is the rich man's playground. FUD is created, and the panic is being made use of the whales. Traders who made the right move at the right time will be now making good profit out of the massive market fluctuation that is happening over the past few days. Then also there is more chance of Market crash and recovery.

More memes from traders were around praising Elon Musk, because without him the market could've never crashed and has got a recovery in such a short time period.

When it comes on making money then everything would really be varying or depending with price fluctuations and to those who do make out active trades are the ones who are really making tons of profits
out of these movements.Im not talking in all traders but several ones who do really know on how to play with these movements.

To those who bought on the peak then they are the ones who do freak out when the market had make out some serious dump or crash.Its just a matter of time on where prices
would really recover out and we are currently seeing it at the moment.

Its a typical movement and this is one of the most favorite time for traders but not all would really be giving out that kind of chance to make profits.
It all varies on how you do deal with these movements.

In general yes, the rich man's playground but I would say this is only true for traders and speculators. If you want to play the trading game, be prepared to lose to the rich men.

But speaking from my own personal experience,,, if you only use crypto and see it as a long-term appreciation tool and store of value other than payment processor, you cannot lose.

All the negative news around the cryptocurrency market is aimed at making it easier for the investor to part with their coins. There is a usual redistribution of the market, when coins are selected from weak hands with the hope that they can then be sold to them at a higher price.

The market doesn't look great at all because of the bad news circulating all over the world and the recent was china banning mining bitcoin and financial payments using cryptocurrency, also Tesla announcing that they will no longer accept Bitcoin as a payment on purchasing their cars. About the indicators I used, its MACD, EMA (50), and RSI, that's all I use because I find it very simple yet effective to use. I'm also studying about FIBO to add in my indicators in trading because it's pretty interesting.

- Yes, the mining factories in China are starting to shut down and a rather sad result for the market is a relatively bloody farewell party but the next information that we should update is that these factories are setting up a new system in the US, maybe this will be a new hope. Elon Musk is also hinting at bitcoin again, the next market is probably going to be very interesting

it looks like Bitcoin is still struggling to break the strong resistance at $ 40k- $ 42k, if this resistance is passed then for the $ 100k it might happen,
yes, this will be a long journey for bitcoin, FUD and Good news to complement each other in the current situation, Who knows who will win,
what do you think, mate? Bull win or bear win?

No one could ever predict on what would be the things that will happen ahead this is why we do continue to make out speculation basing up with several factors.
-Presumptions
-Current market condition towards sentiments neither on positive or negative
-Hypes and Fuds
-No reason for such movement.

Its really hard to determine on what would be the next move because of these main factors.This is why we should really be wise on making out decisions
in regards to our positions.

I agree on that speculation is always an speculation and changes is always happening, crypto is different and we all know that it is high on volatity that makes no one get an easy pofit on just buy and selling. There is no another strategy or option behind the crashing market no other than buying or filling up our bags and wait for the next opportunity to sell it with pofit, it is simple strategy that also depends on our luck we really need to be wise.

  There are a number of reasons why the Price went down so far, #1 Several Billion dollars were liquidated when a hedge fund went belly up.   Then there was a number of exchanges in foreign jurisdictions that closed due to fraud.  This created the down trend, that caused margin traders to go under water.   Which caused a further liquidation and margin calls for over 5000 traders which caused the price to go down more.

   None of these things had anything to do with Tweets by a self important billionaire.

  Then China made a move against bitcoin, this created further liquidation because it became a problem for companies in china to hold bitcoin.

  More Liquidation.

  Again had nothing to do with Twitter.

  What is happening now is price manipulation.

  You can see it happening on the order book.

  Until the exchanges instantiate a new algorithm to reduce the ability of bad actors to manipulate the price by reducing the time in which they are able to place orders below the prevailing price point we will continue to see the price artificially lower than it would normally be after a sell off.

It is clear what they are doing is bidding lower than the flow rate and thus reducing the bids of other sellers.

I have seen this on both sides of the ledger.

When the price goes up too far they go to the other side of the ledge and they SUCK all the buying force out of the top and this further reduces the price.

Until the exchanges take action to prevent or at least greatly reduce the ability of these people to influence the price everyone else is going to suffer in this type of market.

 

Instead of thinking about the falling price of Bitcoin, we are better off buying Bitcoin in a situation like now to collect as much Bitcoin as possible.
After that it remains only to wait for the Bitcoin price to recover and rise to the peak price again, that's our opportunity to be able to sell Bitcoin
and get profit. Sometimes a simple strategy like that does not occur to us, because we may panic seeing the price of Bitcoin continue to fall.
Even though Bitcoin price is very volatile so its movement is very difficult to predict, we ourselves must be able to deal with it by doing
the simple strategy that has been mentioned.

Exchanges do try to prevent a lot of these activities. I remember in 2017 when I was an active member on Bittrex Global, they would introduce new measures all of the time to prevent this kind of fraudulent trading practices. First they did not allow you anymore to make limit orders that were too small (bots can make 1000s to crash the orderbook). Then they did not allow you to set price more than 5% different variance from the market current. So they do try.

I know another place that doesn't allow people to put orders %50 lesser or higher than the current price, this prevents a chance for a sudden crash or a huge hype all of a sudden however as long as there are other places that does this, people could use that chance as an arbitrage opportunity and that would be even worse for that place.

I believe as long as you do not allow any fraud to happen then you do not have to make any changes compared to other exchanges like limiting the orders. What we should do to limit manipulation is to educate people and make them realize that they should not trade based on what others say, there is really no reason for selling or buying just because someone tweeted, without educating people about this we are not going to have any better results.

Oh well this recent price crash didn't just happened on bitcoin alone but I guess most of the crypto were being affected. From the consecutive price climbed of bitcoin, ethereum and binance all of a sudden when the market crash passed by it'll made those coins dropped tremedously. But as what we all expected to bitcoin, it is now slowly recovering feom this sudden price drop and so it happen to other altcoins. This price correction is so good chance to grab on to invest in your favorite crypto token.

At this moment the price value of Bitcoin was already drop around 46 to 48% if I am not mistaken from 60k$ almost recently now its
around 35k$ something. This happened probably because this was want the whale manipulators like to be happen. And their goal and plan was already achieved and for sure in a little bit longer the price of Bitcoin will definitely spike at the moment we didn't expect to happen.

The price drop is more of a correction than a crash. If look at old trends, bitcoin always had a mid year bear market especially during bullruns. Trend line looks like we will touch 80k end of year

After the crash last week we are only will see side way for 2 month or so. The reason is : 1. Whale acumulated phase 2. The market gaining trust first and making new support here. After that if we still in this price. We could probably see another bull run. My target for end of year is on range 100k-$120k

I agree with you, because according to PlanB what is expected for the next important bullish movement is to achieve that target at $ 100k. Then there is talk of a possible price of $ 288k, which is very possible, but it would be something great and crazy, however some factors can influence the market, in this case the FUD of important people influences a lot, we already know the Elon Musk FUD, but I think one of the biggest important beings in the world of the economy like Donald Trump said that BTC was a scam, it triggered the sell-off by some weak hands that is still feeling its effect. ´Donald Trump influences his followers a lot, and I think he can do a lot of damage, although there are also good things like that of El SalVador and that of the politician in Brazil who put laser eyes on Twitter, emphasizing that he is a totally believer of BTC.

I use the RSI indicator and the stoch RSI  only, and indeed everything if you set it on a large Time frame everything is in the overbought zone,
of course this is what makes the Bitcoin price experience a big decline, and take it easy, I believe this is a correction not a bear market during a bullish cycle,
correction is normal mate, dont worry, just hold your coin and enjoy.

The fact that the market remains volatile, we can definitely experience a market crash and pump as well. We have nothing to do with this situation but to willingly accept it, in fact, it rises up again someday. Naturally, everyone who has been in here for many years has already known the current situation and they are preparing for this. But somehow, for the newcomers, this will be a big surprise as they believe and think that it all comes in bullish, not like this(market crash).

I agree, and I think it is not going to be the last time neither, they are always doing this and they are always after making the price go down more and more and more. I think I have seen at least 10+ times when "china bans bitcoin" news and this is not going to be last for sure. Most of the time they do this when the price goes up, I remember there was a HUGE ban news that went around everywhere back in 2018 times early days and they banned ICO's, no Chinese person could contribute to ICO's and that was the start of something very horrible because they realized they can just ban anything they want and even though its china and they are a dictatorship and can do anything they want without worry (they literally are doing a genocide right now and nobody cares) BUT crypto is not something they can ban. So ever since that day they hated bitcoin and keep "banning" it but nobody really cares to be honest, they just drop the price but people still use it.

At the moment when seeing the Bitcoin market, the facts and events are being contrasted, on the one hand there is the war that China has against the Bitcoin miners and on the other hand there is very positive news that is the adoption of Bitcoin in El Salvador. , this neutralizes feelings, however, organizations from all over the world will speak out and the FUD will start much more, the IMF is already speaking out and they do not like at all that El Salvador has made such a decision, so there is an inconsistency, it is Bitcoin investors are expected to be confident enough not to panic.

It all depends on how the Bitcoin bulls react, I hope they can defend the price level and this time the battle is won by the bulls.

I believe the crash was bound to happen, there is no running away from a crash and it always happens, it is important to be ready with a stop loss and that's how I survived as well, I lost a good chunk of money but not as much as I could have and that is the good part, I personally got away with a good profit overall. I was one of the lucky ones, I got into bitcoin again at 6.5k last year, so I would have been in profit right now even if I didn't sell anything, the bottom was around 30k so if I sold there I would have still made nearly 5x profit as well, so I am feeling fine no matter what, getting in early is always better part of the deal.

However I sold mine at 52k as well and that is not a bad part neither, if you have a stop loss and you know what you are doing then crash doesn't hurt you because that will eventually happen, I changed my stop loss constantly the higher it got, it was first 10k and latest was 52k, so I arranged it again and again.

Nearly in amonth BTC sideaway and stay at that price, that mean the support is strong and more high probability the price will bounce back. Waiting for another a few month, then BTC will rebound and altcoins will follow it. BTC and altcoin has potential to new ATH again. For TA is enough to use trendline to determine support and resistance area.

Bitcoin is a highly volatile market and as that I relate any price situation to its demands and so many factors influence the direction of the market such as bad news and the rest of other market situations.