Bitcoin Forum

Is this the start of free fall ? I dont see bitcoin loosing so much in one day ever before . I'm so glad I cashed out on Friday.

hahahahahaha

worst thing is that I don't know if you are for real or if you are just a troll with a new account trying to scare noobies... but if you are for real then I suggest you take a look at previous BTC price action.

trolololo

It lost about 5000 USD from the top. You could say it's a lot but it's not. It also lost 5000 dollars on January 4 falling from 34 to 28 thousand.
 
As a matter of fact, bitcoin could use a healthy correction.
If we were to come down to around 30 thousand and bounce back it would be much better for the long bull trend than if we continued to go up from 42 000.

Good for you that you cashed out, maybe Bitcoin shouldn't be for you, investment is crashing, and rising after crash and if Bitcoin crash to nothing many people will still hold what they invested in it and much more will they hold even if a correction happens this year 2021, Bitcoin is solid for me and I have said before I don't check too much on the price because I have no double mind or doubt.

Fuds have started and I am making this post just as a warning for the users to avoid reacting to such posts which predicts without any logics and moreover there has been much bigger fall which Bitcoin has survived and thrived. We might see numerous posts like this to portray Bitcoin in negative lights. Let's not create more panic by cashing out rather look into the bitcoin's in the past.

Yeah, anyone who have something between their ears and just takes a look at how voilate bitcoin can be should just sit and breath out, but I do get pissed of at comments like this, not on my own behalf but on behalf of those few people who may have somewhat difficult time in real world and with pandemic and all other kind of shit souranding us... they may be struck with fomo and may have invested few bucks in hope to get lucky... then trolls like these are making them sell off ...

I wish it would crash to $3000 Image just selling 1 bitcoin then buy over 10 back!! I think people should sell half of their holdings to be safe. If bitcoin keeps going up then they accept that small loss. If bitcoin drops then they can buy back and be happy. Either way, a nice profit is made.

Last time it went into a bear market it dropped some 80%, there is no reason it wouldn't do the exact same thing now. Get ready for a sub 10,000 Bitcoin price at a Binance near you.

Breaking news!! It just had a slight rebound, great selling opportunity, so you get more than todays intralow before it starts it's freefall again. It kissed 35K, now at 37K.

FUD !!!

Last week we saw exactly same thing happening ... 34.7k to 28k on a sunday... then week started and we ended up with 42k ... this week we dropped down to 36k so I expect by next weekend that we will hit around 50k ... History repeats.

You must be joking, right? BTC went down few thousands and you immediately think that it's going to 3,000. With that kind of attitude I am surprised that you managed to hodl bitcoin for a few years.

Sure, big correction will happe sooner or later, as always, but I don't think that we are there yet. And even if that happens, it will be a chance to accumulate more and BTC will come stronger than before.

This is the buying opportunity for all who missed the previous bull run. In current market Liquidation is too much higher then previous so stop doing trading, Just try to buy in deep before bounce back and keep patient for a several days by holding your BTC. If you attempt to do trade hourly basic then must you will loss your capital. It is better, buy a part of btc in every deep instead of doing hourly trade.

People starts to scream out eh?

https://i.imgur.com/sd46xeb.gif



This isnt something new for this market and if you've been here for a while then -3000 movement isnt something that you would be surprised.

not and will not happen, only your predictions and that's fair.
maybe it's the best for you but bitcoin has a long way to go. If you look at the past few months of the Bitcoin movement, of course you won't be surprised anymore. indeed it goes up and down quickly even in a matter of hours bitcoin can do more than 1K $.

bitcoin is still half way, but you have determined for yourself and it is your right because of you who has, but maybe too fast and panic and fear because bitcoin had dropped even though on the same day it rose again. don't be sorry for your actions because it is one of the decisions that have already been made.

Welcome to the world of cryptocurrency, the market has seen tremendous rally in the past few months and you think a drop of $3000 is a big surprise. The market rallied a lot in the past few days and you should expect a similar crash as well as there will be many investors who invested last year looking to book their profit and these sort of 7% correction is a common theme in the bitcoin market.

Fall? $3k is already a crash and fall to you? $40k before and then corrects to $37k. And just as today, $40k this morning and $37k just right now.
I don't see it as a crash, just the nature of bitcoin being volatile. And knowing where we came from, I don't consider this to be part of my worry. But if you do, buy.

You're what they call "weak hands". A small by Bitcoin's standards drop is enough to make you panic and start talking about free fall. If that's how you trade, then this market just is not for you, you will get rekt very quickly.

Last time we saw $3,000 levels was for a good reason - there was a panic caused by covid on all global markets. It would take something truly extraordinary to bring Bitcoin to these levels again.

It's not categorized as a crash more into a minor correction which is normal in this bullish market. actually, the price fell $7k in a day as the highest price was $41,4 and the bottom at $38,3k but it could recover to $38,4 right now, indicate the market still persist in bull mode. Bitcoin demand during this Pandemic continues to increase mainly due to in-bulk acquisitions by institutional investors because fiat values tend to depreciate as long as the world economy does not work normally, they want to hedge value and it seems bitcoin as the good alternative.

You would really able to tell if there's some shaking off in the  market.Weak hands are always there and when they do bought in the peak and when the price goes down suddenly then
they do panic and sell off in loss.Looking on the price its starts to cling up again.This is just actually a normal movement in the market but people are still panicking when they
do really encounter this situation but if you've been here on this market then this wont really be surprising for you and instead of panicking then its more wise that you would
buy on the dip and make some profits later on when the price tends to recover again. 3k reduction isnt something rare on this market thats why you should really be prepared.

I agree that 3k is not that big of a deal considering the run that is happening right now. The only time that I will panic is when the price suddenly slumped from around the 15k mark or half of the current value.

This is the Sunday sell, its quite normal I think same as price drifts over a weekend it hits the harder prices as we come back into working week hours.  Par for the course mostly but I think there is some negative outlook worth considering.

Price action (https://talkimg.com/images/2023/06/12/A1Aj5.png) does look top heavy, its easier to fall over if too many become involved later on as buyers are just as much sellers. 50 day moving average is quite reasonable normally to touch on a regular basis so last time we left it in July and didnt recontact for about 6 weeks and this time its been since October so its very extended.
Jan 4th it looked just the same as now and rallied, 27k was price then so thats the downside price objective. If we get there consider the flipside.

If you look at the percentage size of this fall you can see that it is 20% drop which could be categorized as a crash but a small one and it is normal for bitcoin to see such "mini crashes" during its bull run. Meanwhile only an idiot or a troll thinks that just because of such a move price could go below $30k let alone reach $3k :D

I keep suggesting everyone to look at the charts, I might as well repeat it here too. If you check the charts between 2015 to end of 2017 you can see that the trend is very similar (if not identical) to the chart between start of 2018 to end of 2021 with early 2021 (these days) being very similar to start of 2017.
A good example is the fall from $2980 to $2120 back in June 2017 which is 28% drop right after price went about 100% higher than the previous ATH ($1200 to $2980 -> $20000 to $42000).
You see the similarities yet?

$3K is a joke, but sub-$30K would be very typical for Bitcoin. Check out some of the pullbacks we saw during the 2017 bubble:

• January 2017: 38%
• March 2017: 35%
• June-July 2017: 41%
• September 2017: 40%

From $42K, a 35% pullback = $27,300. 38% = $26,040. It goes lower from there.

After failing out of a 3-day mode on significant bearish momentum, I would say the odds of seeing the $20,000s again are pretty good, better than 50-50. Historically, $24-27K would be the prime knife catching area. Great place to dump cash and go all in coin. Also a great place to hunt for longs while future premiums are low.


Bitstamp hit $1,830 on that correction. Coinbase went to $1,758. Back then, a few hundred dollars was significant. On Coinbase, the total magnitude of the June-July correction was 41.4%.

I'm surprised to stumble onto this here instead of.. you know, your thread...  ;D  With nice pictures and such  ;D

So I understand that you pretty much expect for at least one more dumping session...
Although I did expect such a correction happen sooner or later (it was growing already way too fast), it still makes me somewhat nervous. But your logic is pretty much reassuring  :)

Price is continue crashing the value and people maybe can cause more dumping and I want to say to everyone that we need to calm down to stay the price of the bitcoin more than 30k dollars because for sure if people continue panic selling the bitcoin. but it is not end this crashing because it is possible to see again dump price but we cam stop it if hold and buying again.

I have a couple EW counts in mind and extrapolations to share in that thread (extremely bullish, mind you) but shorter term, things are still pretty speculative, and I'd like to see a clearer structure develop before making any grand predictions. I want to wait until I see a higher degree consolidation before speculating on exactly where we are in the cycle.

Until then, it's just basic trend riding, and waiting for that sweet sweet 30-40% correction.

The index is still shocking as the correction has ended last week's gains and is now up by 1%.
Can't say it's a crash because we haven't seen a 30% drop.
If we go back to the 20,000 level, then we can say that the price has collapsed.
Growth is healthy and the index is fixed at that peak.

Is this thread from 2017?

The crash is not totally big compare to the gain got by the bitcoin recently so people need to think about that so that they will be calm and will not create panic to those people who are afraid to see the dump, but if many will take this and they sell at lose then provably this is a start of price dropping for more if they will spread a fear to the person who doesn't really know how the market works.

Bitcoin isn't in free fall. This is a normal situation, dropping more than 10% is not uncommon, you know bitcoin isn't long so you feel strange.

It really is a huge crash at 10%, I hope it will not happen again and Bitcoin will recover, whales are selling in the hope that small investors will also sell so they can buy more Bitcoin at a much cheaper price, I don't see Bitcoin going at $20 k the momentum is still there, I still believe this is going to be a great year for Bitcoin.