Bitcoin Forum

We entered a bear market earlier than expected

The prices won't go up anymore from now. People say Elon control the Dogeocin market. But he controls Bitcoin at the same way.

We can't predict the Billionaire minds. They'll play any way to make money. As there are Whales in the market their holdings have the ability to make changes in the market. This is what happening at the moment. As you've said, in the way of taking control of dogecoin he is keeping the bitcoin under control. This is just an outlook we've got over the prevailing market. In reality he might be playing a big game unknown to the entire community.

If this is the bear market then we should probably just hodl our bitcoin or accumulate more until it goes back up again this is nothing compared to the 2018 price dump so I wouldn't worry too much about it, the bull will always appear and when that time comes, I want to have a lot of bitcoins to sell.

Doesn't really matter if we entered it earlier than expected or if it was dragged out for too long. The fact here that most of the cryptocurrencies in the market upped by a few hundred percent in just a span of 6 months is a successful venture in and of itself. We should just lay-low for now and hope for the best since this might take a long time yet again, but the possibility of us reaching a new ATH is very possible.

I would like to say that all those panic users are left this market and nothing else. Market needs mature users who can hodl even in 30-50% correction and panic users are the reason for these type of corrections and it's best to not have them in the next bullish rally. Just look into the chart, bitcoin is making bullish divergence just like the first correction of this year.

Lol, only panic users will think that bitcoin market is controlled by Elon or someone else. Bitcoin is here in this market from the beginning and many people comes and left behind. But Bitcoin isn't stopped yet. So, panic users should keep dreaming that bitcoin is controlled by someone.  ;) ;D

It's still up by 450% since last May. Can someone here on the forum point to established old Fortune 500 stocks that have risen 450% in the last year?
Hype stocks like Tesla don't count.

Maybe people have the memory of a goldfish and don't remember in May 2020, a bitcoin was $9000-$10000.
For there to be a true "crash" the price would have to go down to $6000, $5000 and lower.

I am betting the panicking people are gamblers who have bought into BTC in the last few weeks or months and have no idea what is going on.

Neither to say that as in the first place, no one is expecting a dump but people are thinking of a long bullish season. And besides, we can't tell now that we are already in the bear season. Maybe we can tell that if Bitcoin price will drop below $20k but fortunately, we are still above $40k, and still high if we compared last bear season's. I could say that we are still far to say that we are totally in a bear season. But of course, we can't really predict what gonna happen a few days from now.

I do not think that Elon controls the Dogecoin market or Bitcoin market because the crypto market will not depend on him. Maybe this time, the market is making adjustments to the price and we see a red candle happen to the market. I think it is normal to see the red candle because we already see many big green candles coming to the market. If you are ready with the current situation, you will not worry and you will have money to buy back any coins because those coins will be at a low price.

It doesn't look earlier at all.
And Elon Musk probably doesn't controls Bitcoin, some people are just too stupid to make their own choices.

No one can control the bitcoin or the dogecoin (unless Elon Musk bought more than 50% of the dogecoin) Market and bitcoin prices will also go up. This is just a temporary phase which will fade away with time. If you sell in this fud and fear time, you will regret a lot in the future.

We have up to 5 threads that have treated this same issue because it is the latest topic for discussions and many people have said their plight including my very own self, whatsoever outcome this effect has I will keep holding.

Your thought is wrong about the price. We can't ignore the volatility of Bitcoin price why it's become the most popular cryptocurrency. I will not call bear exactly as long Bitcoin hold resistance above $40K as I said before. I will call it a pullback because whales just pumped it earlier than expected. As a result, we have to encounter a dump earlier than expected. That's the reason I like the natural growth of Bitcoin. But sadly market can't stand against big whales. We are hopeless here, once whales make positive comments Bitcoin starts the pump. Once make negative comments Bitcoin starts a hard dump. You can't say Bitcoin price won't rise anymore. It would recover at any time that we aren't aware of. Who knows when other whales say positive and start the pump again?

Is is really sooner than expected? We have had a good run I think with a few good months of bulls. Now, I believe we are beyond the correction line and fors sure the bulls are showing but let this be an opportunity for those that have the guts to buy in.

It is hard to tell. Nobody has a crystal ball and can predict anything about any market. We don't know that prices won't go up. There will be a time when it will but as I say we can't be sure when that'll be. In the meantime, it is best to keep enriching our minds with the limitless info so that we can position ourselves better in the the future.

Earlier than expected by whom? I expected the bear market to begin right about now. Maybe it could have been 100k, but since trillions of dollars didn't flow in as some were hoping, this was the best we could do.
It is over for the time being, already the spammers from Wall Street sold and their paid accounts in social media are dissappearing.

yup he already controlled dogecoin and seems he's owning it now.. but not bitcoin wherein he just play with it to make it lower than what we're expecting, wherein for sure despite i do believe that he still have an interest on bitcoin. Because when it comes to him there's always a reason in such things and i know he had a plan to manipulate the pirce of bitcoin after this hard situation in my own opinion.. Remember elon musk is a brilliant guy so don't be fooled..

The market is going down and no one knows exactly the messiah of the market right now as Elon is misbehaving recently.
The bottom will soon be in but then I think Elon will become unreasonable and he followers wouldn't take him seriously except for Tesla investors.
Buy the dip, not a financial advice though.

Yeah when people like you give him power to control the market then he will,  it is surprising how people react to a common tweet someone who just show interest on btc nor quite long ago, Elon is not a veteran in crypto so why does his tweets hold so much power still beats my imagination,  if people ignore all his ridiculous tweets and don't sell btc price will be okey, but no, many people waiting for Elon next tweet to know what to do, how ironic.
Elon making jest of the crypto community.

A good run from the start of the year, the price may go dip but many aims for t to happen to be able to buy, many regrets they didn't buy before the bullish  market happens, now is their chance to wait and buy. If we wanted to buy in we must be updated from this time on because we never know how to dip and how fast it may bounce back once whales or companies enter. This year's dump can be a different story from 2018 as it's more manipulated by companies or more on tweets.

But do you think those people that are wishing that they should have bought before will now buy? I believe, they are scared to what may happen to the market, thinking that it may go down more. But it is their loss of opportunity if they will pass again. The crypto market is indeed different as compared to couple of years ago. There are so many financial institutions and big companies that are also in play here. So I believe, the price can easily bounce back. If we will go up again to 50k, will the OP consider it as bear market?  :P

Any event can push the price down or up. I recall the price dropped after China took down bitcoin exchanges and restricted BTC. I don't recall how many times the price fluctuated with US govs selling seized bitcoins, halving events, famous services closing and scamming people, PayPal joining the race...long list..
Today it is Musk? Tomorrow there will be another event. No need to make things look bigger than what really are. 1 BTC = 1 BTC at the end.

When musk announces that it is avoiding bitcoin, of course there will be a lot of price declines, because the effect of the news greatly affects the market, but I think with the decline, many agencies and companies will buy at this low price and eventually the price increase will naturally occur again

Well, it is influenced by someone, and not really Bitcoin doing its own thing ngl. Elon has quite an influence on some of the investors in Bitcoin, so him talking bad about it inevitably made them pull out of the market. Still, it wouldn't make that much of a difference in the long term imo, temporary damage so to speak. Not to mention that we're still above the $40k mark. Honestly think that a drop below it would actually signal the bear market instead of this one that was man-made by musk.

I don't see a bear market if there is a correction after another ATH. price can't go up indefinitely, and in a couple of weeks/moths price are likewise the same.
plus, a lot of altcoins (some related to DeFi) are gaining value in a silent but constant way.

Unfortunately the party stopped much sooner than we all expected. Elon Musk got probably sad that not many people bought Teslas with their bitcoins so he had to ruin the party for all of us. It's unbelievable how big the influence of Elon Musk is on the crypto market. For all of us long term investors the only thing we can do is wait for the dump to end.

By waiting for the dump to end we can start again to invest long term, thus getting a cheap price. With the release of musk, it did have an impact on the development of cryptocurrency, but I don't think it will last long

Earlier than expected? Market stars turning greenish since November 2020 I believe and we are already in may 2021 right now, tell me how this isn't enough for everyone? As per history bull season stays very limited time compare to bear market

I dont think we are already in bear market since the price of most coins are bouncing back. Plus compared to previous price of bitcoin and other altcoins (2020) the current price is still far better.

On the other side Elon's announcement has really an impact to the price because of his followers who also owns crypto (influence by him) are easily move whatever he tweets.

The price will go up and its not the end for bullish market, we are only on the second quarter, the best is yet to come.

Yeah we just need to find better position since if enter without even thinking on what we are doing provably we will end up losing, but since the market is now little bit recovering maybe we can say that this is the end point and possibly bitcoin will recover back again. Although this is not sure but lets hope we cannot see more bad market movements.

to be exact, his "opinion" that's overblown by media controls doge and bitcoin the same way, but we already expected correction after such massive bullrun, many of us actually have discussed about that earlier this year
but is is truly bear market though? many people also saying dip is coming when it was first dumped after bullrun before reaching $60K turns out it goes even further, hopefully same thing happen again although many TAs predicted further dump but
learning from the past those TAs not always true and the current market is rather unpredictable.

OP, did you actually believe a billionaire-troll in Twitter will start a bear market? Plus if the market truly crashes, then crash the market until Elon Musk cannot sell with profit. Hahaha.

HODL.

https://pbs.twimg.com/media/E1jxRZ2XsAI-esQ?format=jpg&name=medium

This is what people believed because every tweet he does makes people do something. If he said he is selling his coins, the orices drops to. Market doesnt look like its crumbling but it just dip.

Its not confirmed that we are yet in the bear market so we will see it when the supports on 42k will breakout, it could make traders panic.

I will not go with the mindset that bitcoin prices won't go up anymore from now, you can never say nobody knows the surprise awaiting bitcoin holders soonest. Nobody knows the big whale that will venture into bitcoin soonest.

I don’t think he fully control Bitcoin, its just a FUD and people are just panicking on just a simple statement and misunderstanding. Right now, there’s no FUD anymore and we’ve seen Bitcoin to rise again after hitting its bottom so I guess we are still on the sideways and not yet on a bear market. We still have a chance to correct the trend and continue the bull trend, don’t settle yet.

Well, the onset of the bear market is now quite possible. After all, many were already looking forward to it in order to be able to purchase relatively cheaply. Right now. However, I do not yet think that a bear market is coming, let alone a long one. Most likely, this is another price correction, but deeper than the previous ones. A new wave of another growth in the cryptocurrency market is still possible, which may continue until about mid-summer. However, in the fall, under any scenario, I expect a new, even stronger rise in prices on the market.

Plot twist: what if this is just another opportunity for them to buy even more of the coins that they like and then they start pumping it and make even more profit from it?  In this cryptocurrency market anything can happen at any time, you will think of something else and another thing will happen.

Anyways, Bitcoin has really tried more than I expected and if this is a bear trend, then it is coming late and not early as you have said. You should compare what we have seen this year to other years and you will see that the market has really tried, there was a huge increase this year and it really took a long time at the top. But this is not the end, because we are not sure of it.

First off, in the long run, it's still not bear market, scale your graphs and look at the price changes within a year - I'd say Bitcoin is still bullish. If what's happening now is a bear market, then I have news for you - it's the third time Bitcoin entered the bear market since March.
Secondly, when exactly did you expect it to be? You can see how much the price changes depending on the press, hypes, fear... How could someone possibly predict when will the bear market be?

How can you claim that the bear market already started?
I think we are still in a bullish market, most crypto coins still increase again after the correction. If it is a bearish market, all crypto coins will drop their values constantly.

Well, you seem trying to spread FUDs or in a panic because your asset's values drop.
If you check the crypto market currently, many coins begin to increase again their prices. You are totally wrong, mate.
Regarding Elon, he cannot control the crypto market, the impact will be temporarily only. People already know who is he, he is trying to manipulate crypto market.

There’s no confirmation yet for a bear market since some are still doing great and yes a lot of altcoins are still pumping, that only means to me that we still have the chance for a bull trend until the end of the year. We’ll enter into a bear market once bitcoin hits the price of $30k level again, hopefully not yet for this quarter.

Why people does really mind that Elon could really manipulate the market as a whole or does have control over? Yes, hes a billionaire but moving a trillion cap wont really be much out of his capacity.

It is just the hype and the fuds that circle arounds which make out significant impact into the entire market. Are you sure that we are already on a bear market?

Price is still holding strong atm and still playing on the support line and if this one breaks then i would really believe that we are really heading on a bearish run.

I do not think we are entering a bear season. If the rises in bitcoin are desirable, we need to know that the decreases should also occur. these are the natural situations that should be in the market. But the problem here is that these drops are due to manipulation by one person. for this reason, the decreases are not healthy and I do not want such decreases to happen. Just as elon musk controls the dogecoin market, it does the same for bitcoin. it should end this as soon as possible.

I don't think the drop is owed to manipulation of one person as not one person can manipulate the bitcoin market. There's too much money involved if one person will influence the market. However, maybe you are referring to elon, about his influence in the recent drop. What if, we will go up again, are we going to say we are out of bear market again? So I believe, the bear or bull market, sometimes depends on your own perspective. Right now, we are still above 40k level, and if compare it last year, we can confidently say, we are in bull market. Just giving another perspective on how we look at the current market.

The current fear is made first by a single person and his influence is big since he is the top 1 richest man on earth so expect that there are fool people will follow him if he released something bad or good statement. Gladly we ca. still breath high since we are still at above 40k but if the price drop more lower maybe people will be more afraid for huge burnout.

You should bet it all on shorts.

Me I am buying the dip.

Whether we enter the bear market earlier than expected or not, what matters the most is the way you perceive on dealing with the market if you will take the bear as a negative implication or an opportunity to grab and purchase coins at its current low price. The stand of Elon Musk with regards to crypto has a big implications to the public because many are following his tweets and also following his movements with regards to crypto. Now that it seems his stand have changed towards it, many FUDS also existed that also contributes to the declination due to panic on the side of the people specially for the newbies that easily get lured with such statements.

The problem with Bitcoin is that the users expect the prices to go up forever. They are not prepared for any correction. And as a result when the correction occurs, the vast majority of the users will be unprepared. A lot of people actually believed outlandish claims that Bitcoin would touch $250,000 or $300,000 in a few months time. And some of the users didn't even booked their profits when the prices surged past the 50K level. Now I won't be surprised, if the prices go back to 30K-32K levels.

So even at this time you still thought that the price was going to keep on growing? How long have you been here? If you have really been here for a long time and followed up with cryptocurrency for a long time from maybe 2013 to 2017, and to now, then you will know that this bull run really lasted long. And moreover you’re not hundred percent that the bull run is over because it can still continue at anytime.

We have seen a few things that has happened that led to the decrease in the price of Bitcoin, from the Elon Musk tweets that the media has bee trending, to the new Chinese ban that we have been seeing now. But we still hope that the market will get back up again, it’s just a matter of time.

I'm with you on all this, I took my profits out almost at the top, I would now be quite happy for it to drop again back to sub 30k levels and then we can all start again.

Its a simple game really buy low sell high, who gives a shit what Musk does ? BTC will do what ever the hell it wants its just a matter of buying on the dips.

TT

Nope, I don't think that we have entered earlier, if we were comparing it to 2018, I think that we have overextended our stay in the bull market rather than being early in the bear market.

As I write this, bitcoin is at $36,810--one hell of a drop in roughly a week, but that doesn't mean we're in a bear market.  A bear market is a trend that has to be established, and if you look at bitcoin's price chart there is still an upward trend with this massive dip that just happened.  I'd call this a selloff instead, and this time I have to put the blame on Elon Musk and his statements and possibly his sale of bitcoin for it.  I can't think of any other reason for a crash of this magnitude.

Let's see where bitcoin is in a month or so before everyone declares a bear market.  There's a good chance it'll bounce back if people see this as a great buying opportunity and put their money where their mouth is.

I half agree with your opinion that it is generally the decline in prices over a period of time that determines whether the market is bearish or not.  However, if every day the market corrects 20-50%, until within 1 week the market does not show any significant changes, can this not be another indicator for a bearish trend?

I really didn't expected this to happen but I got in very early so I am not bothered about the drop as of right now, it can drop another 50% before I would be worried about the situation, but I can honestly say that this is definitely looking like a bear run for sure, it is not a "correction" anymore like the previous ones.

Let's be honest with each other there were like nearly 10 times in the past 1 year when the price dropped but then went up higher, it kept going down 20% and then going up 50%+ and that way we went higher and higher, so anytime price dropped people started to not care and keep buying because they believed it was nothing important and since we always got back higher they were right. However this time it looks different, from 64k to 34k is not something that can be called a correction anymore, it is a full on bear run we are in for sure.

Absolutely I agree. this is much more than bear or bull. The pandemic we are in and the accompanying economic instability have caused these quarterbacks to enter to blockchain.
We will see together by living what awaits us.

This shows how much influence Elon musk has on crytocurrency with just one tweet bitcoin lost almost fifty-percent of it's value.However I don't think we are into bear market just yet because as some are dumping others are buying the dip It will just take for prices to recover from the correction.

Bitcoin is not really at its dip price so i cannot tell that we are already in a bear season. What we have right now is more of a healthy correction that will enable new investors to enter into market and buy potential coins definitely bitcoin.

The bear season is gonna happen for sure as the market will continue to dump but let's face it together without worries because in the real sense, bearish season is a great opportunity to start filling our bags again with potential and affordable coins.

my friend, start earning extra coin by short trading just for a few days. he take from bitcoin itself and other coin, but it can make a good profit.
my point, some people will hold theirs until the price blow up, and the other start earn by other way without taking big risk.
never worry about this state, because people already face it before

Depending on what level of the exchange rate price is considered a recovery and depending on what level of price the market will have to recover from ;) I am not sure that bitcoin will recover during this month to the level of $ 60,000 and would be happy if the price fluctuated around 40-45,000 over the next few months, and did not go lower in the corridor to $ 30,000. I sincerely hope that this is not yet a bear market in the coming summer months, we will be in a sideways position, not much rising, but not much falling. I think that the main growth events will begin starting from September.

I don't think this is already a bear market. Recent dump was because a lot of fud has been spreading lately and many people are affected by it that they start to panic selling. This is a big opportunity for many people to buy at the current price of bitcoin and altcoins and I'm sure many whales who didn't got to the previous rally are waiting for this moment. Plus I don't think we will go below $30k at this point. Once market goes up again, 20% gain would be very achievable.

Better not to eat your words about hodling because it will probably take 3 to 4 years before we can safely say that bitcoin has recovered. A lot of people give up hodling along the way and I hope that you won't be one of them. Regarding the entrance to bear market, I don't think that we got in early, we might be a bit late if you ask me.

What? He controls the Bitcoin market as well?
Bitcoin came all the way to $36k without his help. That's his entry point and that's when he purchased it. It's just FUD. Buy it. How? Buy more Bitcoin.
Again with the massive thread whenever Bitcoin falls but when it goes up most people will be silent about it while tasting their success.
They just grin in front of their computers without even making an effort to spread the good news.

But when it's bad news, they are all coming back from the dead.

I guess it's all about the perspective! I thought a bear market will come earlier, so in my opinion, we had a very long bull market! I thought we had top at $30k, then we saw $40k and a bit later $50k... I thought that's the new ATH, but no... Bitcoin went over $60k! To be honest I didn't expect that to happen...
And now we are going down, slowly or faster, depends on the day! I guess it's not over, downtrend can last for a while! So get your money ready for buying cheap coins!

Zoom out to the maximum, and ask yourself, is Bitcoin truly in a bear market? I believe from that context, Bitcoin looks so much like it is in a Super Cycle. Or maybe I’m only being biased because I HODL. Hahaha, but we already knew of Bitcoin’s volatility.

https://pbs.twimg.com/media/E1zRLrfVcAEafzd?format=jpg&name=small

No matter how much influence Elon Musk has over the market or in bitcoin particularly, he still doesn't have the capability to control bitcoin completely. Indeed he can manipulate the price through his influence and money but sooner or later, bitcoin will surely recover and those like you who are saying that we have already entered the bear market will regret not choosing to hold or invest in bitcoin. Try looking at the bigger picture and you will notice how much more powerful bitcoin is compared to Elon Musk regardless of having him as a billionaire.

Nobody can say he "controls" the market that is not possible, he definitely does have an impact but having an impact and controlling are two very different things. I personally believe Elon can drop or increase the price with a few tweets and that's true, but when we are in a bear market he doesn't take that risk and that is the proof he just has an impact and not a power.

Let's say when bitcoin bottomed as much as 34k the other day, would he have the talent to tweet about how awesome bitcoin is once again? Say something like " bitcoin miners are dangerous to world but bitcoin itself is the new currency whole world will use in the near future", that way he would have the chance to clear what he said, and clear why he still supports bitcoin itself, and that would have not increased the price at all because it was a bear run day, that is why he stayed away. Once again, he has an "impact" not control it.

I wouldn't say I'm expert but I was expecting the very moment bitcoin was unable to break $63k, not until Elon spoilt the fun of making quick cash from shitcoins.
Some investors don't want to hear this, the bear market is in already and this will take while before we break bitcoin all time.
Earlier today, there was another FUD that China raid Houbi office, I don't know how through this is but the market keep plummeting non stop. It's safer to bag some profit in usdt because of opportunity cost. Don't listen to people who always hold.

I don't know if there is a record kept, but this would be the bear market that will affect so many people, after so many bought bitcoin after it kept on breaking it all time high consecutively, with the level bitcoin reached the current price, is a quick contrast to it, and the season change has dawned on the crypto-currency atmosphere, the more experience will square off this new reality professionally, for Newbies, the will bank on the knowledge they have learnt, some will panic, some won't.