Bitcoin Forum

As at the time of creating this thread Bitcoin is sold for $33,900, in recent days the entire market led by Bitcoin has faced what looks like a bear market where bitcoin went below $30,000 late last week before recovering back to its present price. This has driven me to the conclusion that bitcoin in this year 2021 made the highest price movement since it was created a decade ago.
Can we now call 2021 the year of Bitcoin/crypto adoption year?

If you look at the various statistical data on Bitcoin adoption so far, then I really agree that the increase is much more significant than in previous years. I really can't show all the evidence and data related to it all. maybe there are some pictures that I can show, regardless of the relevance it goes back to the extent to which you understand all the context of Bitcoin adoption from various elements.

You can see the source here:

https://www.statista.com/statistics/647374/worldwide-blockchain-wallet-users/
https://assets.bbhub.io/promo/sites/12/1060725_Crypto-Apr2021Outlook.pdf
https://research.aimultiple.com/cryptocurrency-stats/
https://techjury.net/blog/cryptocurrency-statistics/#gref
https://triple-a.io/crypto-ownership/


NOTE:
the rest use research first, because the sources I have listed are not necessarily authentic.

I don't think price is the right indicator for the rate of adoption though. Obviously we got new ATH, but it's not the biggest jump if you compare it with the previous ATH. I think the hype is always bigger for each bull cycle, compared to 2017 it was definitely bigger imo.

The price of Bitcoin increasing does not mean we have more adoption it just means there was more positive things effecting the price. Adoption is proven by the amount of people sending transactions on the Blockchain and that is the only indicator we have for adoption. Adoption is probably down from what it was pre 2018.

Decent!
Gold was also at it's best this year per ounce but we don't call it as Gold's adoption year since Gold has been valued and adopted since thousands of years ago! The preciousness of this asset was already known to the B.C. people as well as A.D. people.

The value of Gold is increasing ever since but it does not mean it was not adopted then or now!

The valuation is not from the value itself but the usefulness, properties and other factors define the ultimate adoption. Agree to this one.

The BTC price will keep hiking all the time based on direct and indirect factors but that never account for its real value and adoption criteria.

People are not using Bitcoin as it was intended to be used at the moment and are using it for investing and will take out their earnings and put that back into fiat currencies. If the unstable prices of Bitcoin change and become more stable that is when more people will use Bitcoin as a currency instead of investing and profiting on it.

To some extent the price of bitcoin is not a reflection of the level of adoption, the price remains a significant reflection of demands in the market and this increase in demand is traceable to more hands getting involved in Bitcoin trading, which shows one thing that is new investors buying into Bitcoin.

I quite agree that good news also contributes to the increase in Bitcoin price in the past, but currently, there is no such news on the headline lately if any please share with me.

I mean, sure, but technically isn't every single succeeding year better than the previous year? 2021 is better than 2020, and 2022 will be better than 2021, etc etc. Taking note that Bitcoin adoption is still low(in contrast to TAM) and that the cryptocurrency space simply moves so fast.

Maybe it is because Elon Musk effect. Actually I did a calculation for forecasting bitcoin price movement but since there is Elon Musk who get involved in bitcoin market then I have to count it by another way. I think significant bitcoin adoption will be happen for next 10 years since there are many countries which still ban bitcoin. Most of bitcoin buyers are investors who only want a profit. The impact of that will be different if those who buy bitcoin is an ordinary people who want to use bitcoin as payment method because if bitcoin is used to buy goods and etc then the company that earn profit from bitcoin will create more products that people need, at the same time it also increase the adoption of bitcoin, that's my opinion. Actually I have calculated bitcoin price movement, maybe it will not 100% accurate but I think the lowest level of bitcoin price at this bearish market is between 30k - 20k. I am not an expert so maybe I am wrong but I planning to buy bitcoin at 25k - 20k.

The huge demand this year (Covid 19) has created a huge value driver for bitcoin. It is a fact, the popularity has increased, the application has also had new changes that are very practical and promising (El Salvado). I suppose, with the growth of bitcoin and crypto this year. It has achieved many successes in terms of popularity as well as the effect of influence from bitcoin.
Perhaps not yet, but we can count on it to be universally accepted by 2025.

A bear market is when the price continues to go down. For example when price reached $30k in exactly 3 months ago if price went down to $25k 2 months ago and $20k 1 month ago and $15k today then it could have been considered a bear market.

A sideways market which could also be interpreted as the accumulation phase before the bull run on the other hand is when price stays in the same tight range for a long time. Which is exactly what has been happening for the past 3 months. When price entered the $30k range it remained there and the range it fluctuates in eventually got narrowed down to between $29k and $35k.
Unless price goes beyond any of these 2 numbers the trend remains the same sideways, not bull and not bear.

Adoption rate is different from its current pricing.

The two cannot be compared to each other as they've got their own stats for each year. Well, if we're going to say that due to the ATH makes this year as the best year of bitcoin's adoption.

Then it won't be the best anymore next time once the price will be surpassed.

How can you say that bitcoin adaption is down from 2018 ? In 2018 and prior, there was only whales and retail in the market but in the present time many institutions have adopted bitcoin. Marketcap is another way of looking at the adoption of bitcoin. As the marketcap grows, it means more and more people are holding and using bitcoins.

I think we've been in the bear market for months now, and I don't see any signs of recovery. As for the price growth, it was higher in 2017 than in 2021.
Statista's visualization looks very weird, I don't think it's helpful in seeing the general trend, given how it's more detailed closer to the current date. But blockchain offers data of their own (https://www.blockchain.com/charts/my-wallet-n-users), and the adoption rate going higher in 2021 than could be expected from the graph is more obvious there. But still, 75 million users is close to nothing when we compare it with the world's population, and at this rate true mass adoption (similar to that of smartphones or the Internet) is unlikely within our lifetimes.

What do you mean? bitcoin has been rebounding since hitting $29k, perhaps it was really cheap for the majority of us and bought a lot during this dip. No, 4 years we will see the price moving very high, it's cyclical, so there's no such thing as highest price movement because obviously the next couple of years we will see another exponential growth. Same as crypto adoption, every year it's growing, so there is no definite "Bitcoin/crypto adoption year".

Every 4 year cycle is different.

Hopefully, the bear trend is leaving the market and the bull trend comes to the market as we know that the price has already increased and back to $34k.
But if that is about bitcoin/crypto adoption, I think that already happened a few years ago and maybe it started from 2013-2015.
Maybe the peak of the adoption happened in 2017 as the bitcoin price reached $20k but unfortunately, the price is down too deep and makes many people frustrated to see the price.
But in this year, people see that bitcoin price get the chance to increase and they see bitcoin already hit $64k.
That makes the adoption process run and gives courage to some countries to accept bitcoin.

It might seem so, @2021 being the year of bitcoin adoption in comparison to the past years and there is way too much events to have made this transformation  possible. The 2020 year was a year clouded with events. From the biggest event of all which was the covid pandemic, the bitcoin halving and the bullrun followed by Elon musks Tesla bitcoin purchase. All these contributed to why bitcoin had the sort of surge it had this year and why the bearish looks of the market is most likely to take a while before we see some substantial move towards the bullish side that would last much longer. The market is a bit stabilized now the way I see it. Still hoping it stays so though.

Bitcoin or any other cryptocurrency present today is still undervalued and still has low adoption. Rember that every year, there are more and more bitcoin adoption that is happening. Just like the recent news in which some countries lawfully turned bitcoin as their currency. Imagine having more countries doing that in the next years.
Just like what others said, adoption doesn't necessarily mean it affects the price directly.

After the price reached the ATH this had to get some correction and rest in lower levels to save the potential for reaching a new ATH. There are many factors for bitcoin to start growing and some factors are actually happening, when the prices reach lower prices levels and people start to buy dip greedy the first factors will happen, and since the price could reach nearly 29.2K, many people were greedy and this greed made the bullish cycle get started, also we should consider the fundamental side of the story were Dorsey and Mask made a positive fundamental effect that's how everything changed on market.

Therefore, I provide a note below so as not to use what I say as a benchmark to see the current statistical comparison. And with that I totally agree with you that the mass adoption that is happening is more of a big big act which we can access via smartphones.

The question in everyone's lips now is, if the bitcoin bullrun is back because, it surely looks like it. At the moment, the price has risen to $39.5k and it isn't done yet. That's the best part of it all. Something hodlers have been looking forward to though, so long as ots still far below the ATH which numbers around $60k, I'm still hodling and would continue to hodl.
It's going to feel really sad for those who sold too for various reasons related to the fud being passed around, from Tesla to China attack on miners. Its all coming to an end now but the harvest isn't ripe yet. Hodling remains the way to go and most importantly, still buy if you can and your ready to hodl. Its not too late for an investment.

It's a pity for everyone who sold at below $30K and between $30K to $35K because the price bounced back hard, even better than I initially expected! Now, I'm macro bullish and I feel like the worse is behind us. We might have a little correction after this but it should give way to higher highs. With the milestone price of $100K in mind, I would continue holding and won't sell. I didn't sell when price dumped hard then I won't certainly sell now.

Today, bitcoin has risen well in price, I think this was facilitated by the news from amazon that this giant wants to accept bitcoin for payment at the end of the year,they also want to start developing their own cryptocurrency, I would like to read such news more often.

2021 is indeed the most Bitcoin adaption year. And we have seen a new ATH this year as well. Most probably it's because of this adaption. But it doesn't mean the price wouldn't drop and always should up only. Bitcoin is the most volatile cryptocurrency and most probably that's the reason why it's most popular than other cryptocurrencies in the market. By the way, just now I have seen in Binance Bitcoin trading above $39K and trying hard to break the $40K zone. It's because most likely Amazon going to adopt Bitcoin.

Really hard to tell but for sure we did really able to see some progress for this year where we do able to break those previous ATH's and able to reach 60k which is a solid indication

that there are lots of changes that did really happen in decades time and comparing on the level of adoption then we are really able to identify on how far we had able to reach out.

For now the best thing to do is to go with the flow and if you are a short trader then you would definitely be minding on how to make profits in long term basing on current
price movements.

we still can't call this year the year of BTC adoption because there is still a lot of resistance...

some time ago I saw on Twitter there was a group of people in El Salvador who balked at BTC being a legal tender there besides that there are still many countries that refuse to recognize Bitcoin. btw, I really believe that in the next 5 to 10 years BTC and other cryptocurrencies will be mass-adopted.

I'll call the 40k right now as of writing this. :)
It could be too sudden from what how I checked the price like 12 hours ago, as it was still around 34k-ish before.
I am not kind of expecting it just yet to get back to our last ATH, but who knows.

Well, we can call 2021 is the year of bitcoin since bitcoin broke his own record of ATH at $63,000 this year. And today, after such a deep dip the price of bitcoin slowly increasing day by day. I believe the price of bitcoin is going higher and at least touch down its ATH again.

Before 2 days everyone was shorting bitcoin and investors have fully believed and market situation giving signal tha it looked like it was going to dump. One whale makes a big buy, and off to the races with the stop losses getting hit and the shorts becoming longs

Nah. In 2013 it went from $10 to $1300 and in 2017 from $1800 to $19000. Both of those times were bigger than 2021's. Sure, this year hasn't ended yet, we may see some huge spikes like moving above $100k-200k, which would then mean that we should expect huge drops.

Just to add something. In 2013, it cut the reward from 50 BTC to 25 BTC. In 2017 from 25 BTC to 12.5 BTC. In May 2020 it went from 12.5 to 6.25. It is justified to not jump same like in the previous halvings, because it is now slowly making the supply less responsible.

This kind of situation in the crypto market is quite common for some people who experience even greater than this one. There was a time when the price increases 50% in just a week and another 50% after that. Volatility is still there when the price rises like that, there is a tendency that it will go does like that as well. As we are in the 2nd quarter of this year, there are lots to happen and there is still some chance for the market to regain its price again so that sign is good enough for the investors to consider to buy bitcoins again before another bull-run comes.

You are just looking at the present, have you take time to look at the past by this I mean the first quarter of this year and have you seen bitcoin reach the price of 60k and also you don't know what the last quarter hold for this coin in particular, if I were you I would wait before asking this question.

I think 2021 is really one of the best, if not the best, years for crypto. We had really interesting spring, both BTC and ETH hitted their ATHs. Then crypto crushed but it's still was higher than it was a year ago. And now it's coming back.

There hasn't been any static changes in the price of Bitcoin in the last few days. Price has not being much above $40,000. The price ranges from $37,000 to $40,500 in ẹ recent time. The Bitcoin world may just be waiting for a breakthrough into $42,000 for it to boom again and give us a spectacular rise in price that we all hope to see.

There are influences from other adoptions, especially Amazon, which is widely reported, maybe this is a sign that there will be better price changes after many adaptations this year and much better than before. I'm sure about that after reaching ATH this will not be fundamental when the price becomes a bear market .

After a few days it seems the price is still holding $39k this possibility will definitely go up again after a lot of positive talk and after we offset these fluctuations for me this is natural and crypto will be a very fast opportunity with its fluctuations.

Don't have a final conclusions yet, we cannot perfectly said this year to be a bitcoin or crypto adoption period. When we don't see government pushing through digital currency as most recognized asset, still this idea wouldn't come to become a fulfillment. We might seem to observe the highest price achievements, but it all remains to that state but nothings ever change in reality of crypto's volatility.

You are out of the loop because Amazon news was fake and it became known the first day when rise was just beginning. This is why we keep saying this rise has nothing to do with the short lived hype about Amazon and yet price keeps rising.

I think more than the changes in the prices, the market has more institutional investors than the last time so there's some changes in the market. You're probably right that after 42k we might see another run but we have to be careful because it's fueled by rumors but it seems it persists even though there's rumors about Amazon.

No, 2021 is the year of pandemic.
It helped a lot for people started looking for ways or options to where they should their money.
Instead of it rotting in banks where they are the ones making more money instead of us we finally made the jump to give other things a try. Cryptocurrencies.
It's not adoption because that means there is usage. They just bought it as a store of value and that's the same thing that is happening years ago.
It just went to the wider field where average people even without the proper knowledge are buying already unlike before where most investors would doubt it and try to learn it first before the purchase.

Well, you are right cryptocurrency has witnessed mainstream adoption lately, and this is because more and more people are getting to understand the primary function of cryptocurrency and this is to be an alternative currency that will give people the financial freedom needle to leave an independent economic life without government and the central bank involvement.

Bitcoin is the most powerful currency among other cryptocurrencies prices started to go down after bitcoin reached its high point but now prices are rising again because the market is not stable the price of bitcoin is constantly changing. Seeing the high price of bitcoin and the bull run coming back in the market new companies are joining crypto and with the change of financial situation everyone is investing in bitcoin.

The rumoured adoption by Amazon might be one the reasons for the turnaround of the price of Bitcoin in last couples of days also Elon Musk made a positive remarks as regards Bitcoin,  of course we are all aware his last negative remarks that influenced the last dump in the price of Bitcoin however irrespective of whatever negative impact on the price of Bitcoin historically Bitcoin always rallies back this is a fact that shouldn't be ignored, in the wake of the first wave of covid-19 last year the price crashed suddenly however against all odds it rebounced and attained a new ATH, there are so many other price dump in the past in which institutional adoptions or positive news rallied it up thus I am not surprise with present price uptrending its likely that the market is  changing it sentiment from bearish to bullish.

every after halving there is a possible pump , meaning there are probability that a All Time High will be rising and that happens this year like what happened in 2017 or even before those years.
so what we must understand that crypto market is volatile and unpredictable and this same reason that we must consider to not expect every high, in which there are chance to grow today and fall tomorrow or vice versa.

Not yet, I wouldn't deal on that idea for now since we're still facing a hard days for crypto market. Despite that we see more promising days, but it can't be denied that more struggles is waiting for our asset in order to reach every goals we have. Price changed due to short time traders, and we need to wait for whales to take over and we will see bull market once again raging the entire cryptocurrency world.

The thing that makes crypto popular is the ease of transacting, with just a few seconds the transaction is complete even though the recipient is from all over the world because we are connected to the blockchain. this is what makes crypto users leave fiat and banks.

If we put basis on the price or on the new ATH that goes above 60k$, maybe I can say that this year is really an amazing year for crypto. 60k$ last few months is really great and no one can really expect that it can reach that price this year, it is maybe because of the mass adoption and that price also mean that many investors are now investing into crypto and the demand is really rising.

Indeed, massive adoption also helped it reached to that specific value, and nobody expected more that their predictions existed in reality. However, FUD and other controversial statements came out after good market situation in order to take down bitcoin at that moment, yet we really experienced the negative outcomes but people realized how valuable this asset was. If ever demand will arise again, I think $60k will soon be reached and next predictions takes place towards $80k onwards.

I think that it is still early to say that 2021 is the Bitcoin adoption year. We still have 5 months to go until the end of this year. And we don't know at what rate Bitcoin adoption will continue in the rest of the year. For example, Tesla is said to be starting to accept Bitcoin as a payment method again soon. This could help the adoption in a positive way.

The adoption of bitcoin progress shows a good thing this year, and we see many big companies trying to buy and be involved in the bitcoin world. It will go mainstream from this year and in the future and many people will try to invest in bitcoin because they see that those big companies have the confidence to invest in bitcoin. We have 5 months before this year ends and if the bitcoin price can increase so high, that can change the perception of people out there because they can see that bitcoin can be one of the best investments for them. People will have their time to invest in bitcoin, especially if they can search for the other benefits of bitcoin.

There's no time limit for bitcoin adoption, it might go in the next 5-10 years.

I think what he said that we still have 5 months to go before the end of the year, and that is a good gauge to see how well bitcoin is doing, regardless of adoption for governments or any merchant stores accepting it as mode of payment just like the rumoured Amazon news, which turn out to be faked. So the price is still a bargain, because in the next 5 months it might ballooned to 6 digits.

33.9k down to 30k that was only a 3.9k decrease and I don't think that was a real bear market but in the past the price of Bitcoin have dump more than 3.9k not just once but I think lots of times already  .
Real bear market isn't new to us but we experience it all the time but I agree that this year was the best for btc because it reached its highest ath which was 60k and that's possible because lots of influencers and companies join btc during  this period .

Probably the only change is that there's more bitcoin in circulation, more people that are actively participating in the market and the prices are much higher than the last decade or so. I think those are the only changes that I can think of.

I think cryptocurrency adoption has skyrocketed from the start of 2021 very significantly from the previous year. This was influenced by the bullishness of Bitcoin which broke its all-time high price (ATH).

I also do consider this year as the year that bitcoin gained a popular ground for adoption. Many regulatory processes have given more popular gig to bitcoin through exchanges and trading. The list of adopting institutions has built up including El savando.

When you mention billion, I suspect you referring to Elon musk. He is really instrumental by buying lots of bitcoin early this year and that contributed to price skyrocketing. Elon musk has actually benefited from the adoption by manipulating somewhat the rise and fall of price as a whale.

I think adoption is already since long time, because if we compared from past, a lot of people already start to know and made investment in bitcoin. For the price i think it is just still part for bullish in this year. I still confident until end of the year we wouldn't see big dump happen.

For me my most awaited time in crypto was the end season of the year, i mean from my 5 years being involved here in bitcointalk forum and being able to become one of the active member of the crypto community I used to watch and see the market price movement of bitcoin from time to time because it's such a delight to my eye to see the market price climbing. Today, we are still 4 months away from the end of the year so we can expect a lot of things may happen in btc price from time to time.

Well, for starters, the price caused it to be more expensive. Another thing that I noticed is that the prices don't seem to be much more scary when it goes down, what I mean by that is that even if it goes half in prices, I don't feel the same panic I had back in 2018 when the prices crashed. I don't know if that's a valid feeling but that's what I am observing right now.

The reality is that we are seeing something that should be expected in the bitcoin price these days, why would it stay down forever? There is no reason that it should stay down forever, this means that the price actually went up because there was no other way to go. There are few things that could happen, we all know this, it is common sense, it is going to either drop, stay same for a while or go up, there is no other way right? There is no "goes northeast" type of situation, these three are the only thing that could happen.

So it already dropped, and it already stayed there for a while, what else is left? Going back up, that is why it was bound to happen eventually, maybe it happened too soon, maybe it will happen some other time, but it will happen, and it did eventually happen, timing could change each time, but it will always happen no matter what.

I don't know if there's anything that has changed besides the increase in value of bitcoin but besides that, I don't think that there's any other changes, just got more expensive I guess. I think it's not yet the year plus calling it the year of adoption is pretty much a subjective topic because some people like me might not even consider it as the year but for you it's different.

I think this year can be called crypto adoption because the integration of cryptocurrency into everyday aspects of life allows room to grow and strengthen itself as more than just an asset. It became a serious alternative financial system to fiat currency and people started to pay attention to it. we have seen a significant increase in bitcoin adoption by large institutions. Many large companies have accepted bitcoin as a payment method, and some have also purchased large amounts of bitcoin to use as an investment instrument. Therefore in the future the price of Bitcoin will again reach a new ATH.

That is the thing about bitcoin, if we could spend it instead of sell it for fiat and spend that? We could logically make al to more money as well, that is the important thing. If people end up spending it more than they sell it, eventually some of those sellers that receive the bitcoin will end up holding it instead of selling it, and that is going to make bitcoin go up a lot. Think about how the world uses fiat currencies, not every one of them is sold and that means we are going to see bitcoin go up in value because there are less sellers, it is just logic.

Supply and Demand mathematics say that if the supply drops, than even if demand stays the same the price would go up. And demand would go up a lot more as well, people who did not turn their fiat into crypto will end up doing it a lot easier because now they can use their crypto everywhere.

In my opinion, Bitcoin is in a consolidation phase, and I think it could last until the end of the year. Since its peak in April, institutional interest has waned, and there has been a shortage of liquidity from both corporate and retail buyers.

It will last until chips are no longer scarce.

We are no longer in the consolidation phase, the price has skyrocketed to the $50k'ish already, so that's no consolidation.

I totally disagree though that the interest of institutions and retail investors interest have waned out. If that is the case then we should be seeing the price into the $10k-$15k, but it didn't happen. After the lowest low that we hit this year around $28k, we have bounce back and make it double already as we enter the last quarter.

It's all based on increasing interest from time to time, and in my opinion, from year to year it must experience a price movement that changes to a higher direction, this is of course because Bitcoin is getting closer to more people, it has strong potential from its advantages until the Bitcoin price does have a natural change, especially in this year.

The biggest difference is definitely the big companies coming into bitcoin and staying as well. Retail investors like us were here for a long time and there are more and more of us out there every single day and we can change so much, look at what WSB subreddit did to Gamestop, there are many hedge funds who are trying to not lose money and they are throwing every single trick in the book at the retail investors but retail investors are not selling, they do not have any plan to sell, some of the people may have gotten out but more and more got in, which is why we could easily say that hedge funds lost.

However here it is not about retail vs funds, it is about big companies helping us out and getting in, and instead of small by small amounts getting in, we have huge amounts getting in, and instead of being the bad guys, they are good guys and get promoted and liked.

The development of Bitcoin has indeed been extraordinary this year, even Bitcoin managed to reach a price above $60k, that's
an extraordinary achievement. I agree that this happened because this year many institutions invested in Bitcoin, and this led to
a large adoption process. Now that Bitcoin is still showing a positive trend by trying to rise above the $50k price, I believe until
the end of the year Bitcoin will be bullish. In conclusion, the future of Bitcoin will be very bright if we look at Bitcoin price movements,
then what we need to do is collect as much Bitcoin as possible.

Price is not a good indicator when we have a currency standard being debased, it shows Dollar is increasingly weak in real terms such that very large numbers are possible in anything more certain in its progression.   BTC is clearly more limited supply then Dollar which has infinite and unscaled production of new dollars, one day it may completely fail and prove unreliable through no set fix to any system of value.
  Despite the great history behind dollar the modern reality it has no regular reliable schedule of issue.

I think that this year has been quite positive about Bitcoin so far in general. I remember the huge dump. But the pandemic period helped this market start being preferred more than ever in this year. Because many people got stuck at their homes. They needed new things not to get bored and they met cryptocurrencies. There has been a huge demand for Bitcoin so far. And we are still expecting a bull run in this year also. If it happens, this year might be unbeatable for a long time.

Remember that we had reached up all time high for this year the price of bitcoin climbed as high as $63,729.5 which means it did really make out some significant change if we do really tend to
compare it into the past. It isnt something surprising though considering on the demand and awareness of it then its just really that normal on having that attention.
For now it might not really be that anticipate on global scale but at least we are seeing some merchants and services out there that do really aware into its existence.

bitcoin has had a very drastic improvement in recent months, since the price of bitcoin fell at the level of $28k yesterday and was able to improve again in a few months, until today it returned to $50k. I see bitcoin has tremendous potential, it looks like bitcoin will score another new coordination meeting this year.

It doesn't matter how much the price of BTC has gone up or down . To keep the market positive, BTC prices must remain stable. Today 7.9.2021 suddenly the price of BTC has changed drastically. Approximately 10% reduction in 24 hours. This is a really big fall in one day. I have never seen so much change in such short of time. Though i don't take it otherwise because it is as usual behavior of crypto market.

Just normal profit taking nothing changed with this latest pullback, we reached the top prices for normal expectations and speculators closed trades is all it takes to bring us back to prices of about a month ago which is nothing drastic imo

In 5 days the 50 day moving average will cross above the 200 (https://talkimg.com/images/2023/06/12/Af1io.png) day moving average,  its fair to say it means we are in medium to long term positive in appreciative BTC price action.