Bitcoin Forum

https://coinmarketcap.com/currencies/bitcoin/

Well its here

Musk bought in at $42k, rose it up to $66k, bailed at $50k, and now falling like a rock to $31k

So all the CORPORATE buy-in of BTC has now been lost.

40% loss of capitalization in just a few days, 500 BILLION US DOLLARS lost, and more to come. ( $1.2T is now $740B )

Next test is $10k

HODL on morons, suckers; The whales, and corporations are all heading for the exits, the bag-holders as always will be the HODL'rs

Enormous pressure will now be on BIDEN to make good on all the pensions and unions that bought into the COVID rise of BTC.

You're talking about the drop in price as if price consolidations is anything new to bitcoin LOL. Have fun spreading FUD!

EXACTLY @mk4, we have been here many, many, many times before....
and there will be more.

Look at 2017 where there were big corrections. There was a lot of shit thrown at
Bitcoin back then but hey it survived and will continue to do so.

https://lh3.googleusercontent.com/-mJXuiZ8uREc/YKSyBsAWB_I/AAAAAAAAAsI/ol6HQCzNvyU87PHZ9u6UKsAtoe4kQ_44wCNcBGAsYHQ/s1600/1621406212617159-0.png

When the trolls come up and make these kind of threads its usually a good sign we are close to the bottom. I´ve read couple times of a bottom of $28k. So hold tight and fasten your seat belts for a hot 6 digit winter. Until then, just turn off your computer and do not feed the trolls.

Previously I have talked about this too, where bitcoin is already at its maximum peak, it can be said that yesterday bitcoin was on a high mountain, bitcoin will automatically go down the mountain to the next mountain.

the question is when bitcoin will go up the next mountain, or bitcoin will be at a low price or below $ 31k.

Could I quote you on that matter in a month or two?  ;)

Seriously, what's wrong with you? You act like you were born yesterday.

Uhh Tesla hasn't sold any of their BTC according to Elon himself.
https://twitter.com/elonmusk/status/1394170030741413888

And honestly, the market has been through corrections like this one way too many times, how many bloody more do we need for people to understand that this is natural lmao.

That's right, bro, people if there are rumors of going down, bitcoin will continue to sell at a low price.

whereas large investors deliberately create issues like that, because they want to buy at a very low price, in order to get a huge profit when the price of bitcoin has started to normalize back to $ 60,000.

maybe in two weeks bitcoin will be back to normal and the players will get a big mountain.

correct.. A lot of masive correction happened ever since before but bitcoin always survive and makes new ATH afterwards.. Unfortunately most enthusiast now are only basing on what's on the internet and they always shaking.. They're really scared on the current situation not the real future of bitcoin sad to say..

Nice chart but now I got to ask what moving average is that in red because its a great place to keep track of looks like.   Every sell off seems to terminate in that region and return some hefty returns multiple times, that'd be a nice trade :)

I know that it is very easy to throw random numbers, but apart from the fact that you are already a declared FUD master, you show that you are not able to find relevant data. It was assumed that EM bought about 40 000 BTC at an average price of about $30 000, and after selling 10%, some people whose math is doing much better than you have calculated how things actually stand.

No one lost anything if they didn’t sell, and EM is definitely even in the green now given the price at which he bought BTC. People who know what Bitcoin is are never in a panic, much less because people like you want to buy BTC for $1000 or less - but that train has long since passed.

Bitcoin is already down 40% from its final ATH, according to Peter Brand about 20 days ago he said it would naturally go down 35%, but things look a bit more difficult, because Elon Musk seems to have a lot of influence, this is a negative Because having so much mass movement he does what he wants, however in this article they show some key points of a technical analysis:



Source: https://cryptopotato.com/bitcoin-price-analysis-btc-is-now-40-below-ath-bulls-eye-the-ma-200-crucial-level/ (https://cryptopotato.com/bitcoin-price-analysis-btc-is-now-40-below-ath-bulls-eye-the-ma-200-crucial-level/)

I honestly don't think it will hit $ 30k or less, but it all depends on how much weak hands are able to hold up ...

Bitcoin continuing to follow the S2F model might or might not happen, but it doesn't really matter. When talking about price models, saying that "this will never happen" is almost just as bad as saying "this is guaranteed to happen"; both pretty much implying that you know what's going to happen in the future.

Whales are not leaving the market, you are just panicking because if you look at the twitter, many whales buy back bitcoin and that's why the price after hitting $30k, it goes back to $40k instantly because whales are buying. Who will exit on a market where you always make money especially if you're a whale?
What's the connection of Biden decisions to Bitcoin? I don't see any correlation with this one aside from FUD.

OP is stupid enough to not know that, I think OP bought some bitcoin at a loss and panic sold so s/he wants spread misery and FUD towards others in hopes that other people are going to be stupid enough to sell their bitcoin. Wallow in your misery OP. It will go back, these people are just too short-sighted to see that the long-term is much more profitable.

And now it seems that the price is on the $40k range again, so the OP is wrong, the price didn't go $31k.

Just proved that he is just spreading FUD, or he is just full retard anti-bitcoin or simply wanted the price to go down so that he can buy cheap. Regardless though, bitcoin has gone into many dumps that there are people who says that it is dead already.

But proven has proven them time and time again.

Here is a reminder:

https://99bitcoins.com/bitcoin-obituaries/

Another FUD! smfh.
Do you have anything more interesting than this one?
This is such an old FUD.
Do you have any proof about Tesla selling their Btc holdings? And do you have proof about corporate investors exiting the market?
If you do, then update it in your OP, because what we believe is happening with the Btc price today is just a normal correction/ consolidation period.

It doesnt matter to me if TSLA sell or not, there are more important factors to consider then one company even if they are peak hype Im not that interested as I dont see they are developing anything special.   Its a big name, it helps face value and its worth about 10 seconds consideration.  I hope we expand in more important ways less notable because it will concern a million people in a small way and they'll all have greater growth potential then a billionaire or his company who have already made it.   It'd be way more interesting if TSLA had announced to further hydro electric usage perhaps, maybe thats not them its down to turbines different technology but still I dont count anything said there as determining future prices.


Its not FUD its a feasible scenario, price on any one day doesnt have to matter outside or trading its just that large part of BTC is speculation and perception but not all of it some is steady development.  The  200 day average is rising still which should be some caution on those too negative or over extended towards that view still we do seem to require to set a proper bottom in order to rise back to the 200 day or 40k area then challenge it. etc.

10k? Nice.

With such a price, the whales and corporations he meant will grab as much as they can. Its nice for them. The narrative to go below 30K seems not happening but we'll just see.

It's a good thing that Mike Saylor is countering the fud online already, I think there should also be a massive countering Bitcoin FUD and attacking the loss of USD value because of the trillions they print so that people will also see why there is a war among currencies.

The next real support if $30K breaks is most likely $20K and I have a feeling that there is going to be tons of traps in that area. Most likely we will either never touch $20K but instead go close to like $22 or $21K before heading higher, or we will go to $20K, people will buy and then boom, it will break $20K go to like $18K and then go up again.

Or it'll be like 2018, where we go to $10K it looks like support and then breaks it and doesn't retest $10K until years later. And its very possible this might be the outcome unless all this FUD stops especially with what is going on in China and with coal electricity powering bitcoin miners. However I don't think we will ever go to $10K. Maybe lowest low is $18K or maybe the 200 WMA.

Any one who are still uncertain about the BTC price just remember this simple fact: BTC is the King of cryptos. BTC will only die when the whole crypto world disappear.  Do you think the crypto world will disappear? BTC may crash down to 20k or even 10k but it will bounce back to 100k+ inevitable in a matter of months.

I will continue hodling despite your negative forecast. I had hodled my Bitcoin in the face of death-of-Bitcoin predictions a number of times. If I successfully hodled in the past when the price of Bitcoin was only $3,000, there is no reason why would I not hodl stronger today when the price is more than 1,000% higher. I hodled my Bitcoin in the past when the goal was simply to get back at $20,000. There is no reason why I should be afraid to hodl today when the short term price target is $100,000.

Markets dont usually break  in one stretch, more likely in stages but it does seem volume favors continued weakness.  Right this moment its pushing past 2 day (https://talkimg.com/images/2023/06/12/AJ8dg.png) average and could be positive all day for all I know.   General rule is we do not move in straight lines (it'd be easy trading profit if every move was so simple) but weakness will continue until resolved.
  Not far above is an old trend which appears as some ceiling, its not serious resistance but there are many obstacles now in the way.   First run up after breaking out past 20k will prove far easier then repeating the same now after sellers appear in these prices from prior holds.

I do agree that it will bounce back but I don't think that it will be able to do it within a months time, remember that the market had a hard time going up to 60k and then it went to a 50k limbo, I think that 100k takes a lot of time before it can happen.

I called this a week ago, and it did break the $31k, and the $10k is a coming, truth is a bitch

$66k was $1.2 TRillion USD Capitilization larger than any USA corporation, bigger than most military budgets on earth

To go to $100k or higher would be bigger than the USA GDP, do you have any idea where this money is going to come from?

i also don't think that we will reach the $10k level this time. i believe, with the support from various entities, which was not seen in previous years, that will be a solid reason why going down to that level is difficult to transpire. we may have touched the 31k mark, but 10k? i believe that's too much to wish for btc.
fud or not, everyone is free to express their opinions here. but sometimes we need to be realistic with our forecast.
maybe visit the post again of mk4 at the first page, where he posted the bitcoin stock to flow model from digitalikNet, where you can find also the live chart  here  (https://stats.buybitcoinworldwide.com/stock-to-flow/). and see for yourself if 10k is possible using this model

Don't talk nonsense. You don't understand how market capitalization works.

If we are already talking about some of the top companies, here are some facts:
Apple (AAPL)
  Market cap: $2.093 T (ATH at $2.4 T)
Microsoft (MSFT)
  Market cap: $1.847 T (ATH at $1.97 T)
Amazon (AMZN)
  Market cap: $1.615 T (ATH at $1.75 T)
Google (GOOG)
  Market cap: $1.554 T
source: https://companiesmarketcap.com/assets-by-market-cap/

Besides, have you ever heard of Gold market cap? Do you have any idea where that money comes from?

There's no denying that math isn't everyone's forte.

I believe that those lines are going to be a bit more smooth during these type days, only not so smooth and linear when they are looked at a longer period. One day's move could be as linear as it can get whereas when you look at weekly it becomes a bit more up and down and when you look at monthly it's even more different. This is why I am not entirely sure if we should look at daily or weekly or monthly.

However I agree that there is a resistance now, that is the bad and difficult part of this downtrend right now, going back up was easier a few days ago when it was brand new, but now there are some walls getting built and that will make things harder when we want to go up higher again, that is why I think it is going to be a bit harder and that is why I think we will not be going back to 60k levels anytime soon, probably not again this year at all, that is how it looks.

However bitcoin is known to break over resistance and below support whenever it wants so it is not guaranteed.

Glad that your assumptions turned wrong. I think you are a noob in this field. It is nothing new in btc and crypto market. We have seen some bigger crashes and bigger bull runs too.
This is a part and parcel of crypto life. If you get panicked, you better stay away.

The price of BTC has given good news for the hodlers, I think the storm is over, so far the bulls are giving good results to all these efforts to maintain the price, the bearish have attacked but the bulls have won these battles :

https://i.imgur.com/M9dq5JS.png
Source: https://cointelegraph.com/news/price-analysis-5-26-btc-eth-bnb-ada-doge-xrp-dot-icp-uni-bch (https://cointelegraph.com/news/price-analysis-5-26-btc-eth-bnb-ada-doge-xrp-dot-icp-uni-bch)

The lowest according to the analyst is that it reaches $ 34k, although it is an open and possible scenario I do not think it will happen for now, but it is a matter of waiting, in the market anything can happen, but I do not think it will touch the levels of $ 30k or less.

We are cannot predict accurately on what will happen to the market so expect that many people will be wrong on what they though on what will be the next movement of the market. And gladly we are bouncing back again and so lucky for people who bought at the dip and not get panic on the situation.

Actually losing more than 40% only in several hours  :D
But, are you sure that it will go to $10k soon?
Wow, it is a fud?
BTC price is exactly crashing and has broken the resistance for a deeper down price. however, I am not sure that the price will go to $10k soon. It have reached $30k and then it could rise again.
I also realize that today, the rate of BTC is not safe enough. Moreover, it is not reaching $42k yet to get the higher price. Today's price is $38,966.67. If this cannot reach $42k soon, it may get dropped again.
But, let's see what will happen.
There is still hope for the BTC market. And if it is dropped, just hold and wait for at least Q4 of this year.

So what if it becomes bigger than USA's GDP? Will we unlock superpowers will the end of the world events will trigger when this happens? Also, I think a lot of people are going to have an idea where is the money coming from, and I think that it will come from the money of the people.

This is why their plugging aliens, for BTC go to above $500k, all the money on earth an then some, so we need martians, reptillians, an hobglobans from uranus to come and buy btc, well HODL on garth

Like I said its going to $10K long before it climbs back up to $50k

It's amazing the shitcoin has gone this high, largely because of covid, but that money is gone, and the morons who rose btc from 30k to 60k have had their arses burned, and most are not coming back

We have a CME gap below 10,000$ but i don't think bitcoin can fall to 10,000$. As per the previous data analysis, once the bitcoin crosses, the all time high, it never goes below its previous all time high. So technically bitcoin should not fall below 19,7000$ but we never know.

I would give estimate of 15k for even a disaster level sell off because thats an old trend that'll catch it.   Just 30k to 20k is hitting the buffers and slowing it down alot, wild or sharp candle moves that reach but also reverse can go deeper hence I say 15k could fit into a more extreme move.   However we aren't near to that negative falling knife scenario, ie. people get scared to catch it hence it slices a bit more easily.   
  Its actually more dangerous when forming a regular pattern, so a number series of highest prices in 2 day trading boxes and each high is lower then the last observed.   Similarly a pattern of lows that undermine previous lowest price, does so regularly develops a momentum and pressure of its own.   Trading moves or pullback can amount to liquidity cashing out profits, we have to try and recognize which behavior matches well.

https://talkimg.com/images/2023/06/12/AJ4VJ.png

Right now, just a plain retraction from 200 day moving average.  We have a reluctance at this point that makes it look like a ceiling, normal price action not something to get too hung up on.