It has not, at least since 2013. Previous pumps were even more volatile and much shorter.

I always try to look at lows and compare them with each other because they are a great show of weakness.
Fun fact is that people are getting more used to these cycles and each time the price looks much stronger. The price doesn't want to go as deep in its lows as it used to. You can see it when you compare how in 2013 it went down 50% in one day, but this time, despite all the FUD it needed 10 days to lose 40%.

The fundamentals remain the same. If you buy bitcoin you're going to have more in terms of fiat value after 2 or 3 years. I see no other way.

 

That's a great summary I must say. Tells a lot about the people in this market. I don't know what's going on, but they are selling so it must be bad. I better sell too.

The China FUD is especially funny because they "reminded" that financial institutions are banned from providing services to crypto businesses, which is a thing since 2014 or 2015 and people still panicked and acted like somehow they did not know that bitcoin was banned in China. This is ridiculous.

Musk is showing off his autistic behavior. People who were avoiding taxation got scared because they realized they'll have to eventually pay taxes...

What a pile of bullcrap If you wanted to buy this year and thought Bitcoin was too expensive for you, here's your chance because the sell-off doesn't make sense.

You're 100% right about that.

OP mentioned 2014 as a 120 - 1019 run which is wrong. The run begun in October 2013 and ended in December 2013! There was no 2014 bull run!
Also the 2013 bull market had 2 stages. First one in March - April folowed by a decline from 260 to 40 USD and second one later the same year.

This bull market can also have 2 stages especially that the first decline also begin in Q2 of the year and is looking much more bullish than the same correction in 2014.

It looks like he thought of everything.

You're struggling not because he messed up or anything. You're just new to this, so don't panic and make sure you do everything the slow and safe way.
With crypto there's often no turning back. If you send some private keys to an employee at an exchange, thinking they're some recovery passes, you'll probably lose a lot of money.

It's possible to request a 2fa reset at some sites, but expect them to ask for full KYC, a photo of you and so on. If they find out the account owner is dead they could lock the account, so it's better if you don't start sending tickets anywhere, trying to explain the situation if you don't have to.

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They did that in 2015! That's why all exchanges moved away from China because they weren't allowed to trade for fiat.

Financial institutions weren't allowed to work with exchanges for many years. This is just a reminder to them from the government. I don't know what the big deal is. Nothing new.

Congratulations.

I'm here since 2016 and have sold a bit since I started here as a trader, but I still have some coins that I bought in that year which makes me more of a hodler than a trader.

The price is low, if I had some money I'd buy. You can see that weak hands are selling. Old hodlers were selling on the way up to 60 thousand. They aren't doing it now.
This is the time when smart people accumulate and get ready for another bull run.

+

But are we in a bear market, this is the question.
We had a number of 30% drops in 2017 bull market, so this isn't anything new.

I recommend not trading if you're asking people to help you with it OP. People like you fall victim of signal groups and other scams.
You have a tough choice to make and I'd recommend to take some profit and sell some of your ETH. Also, I'd get some BTC with my ETH profits just in case.

We probably won't see those 80% corrections anymore.

Most traders speculate that worst case scenario for Bitcoin at this point would be a fall to 20 thousand, which would still mean a 2x yearly gain compared to 2020 average and 4x compared to the low of 2020. That's a great gain if you ask me, even if you're a lagging trader who bought in 2020 and happens to sell at the bottom of 2021.
To get something like that in stocks, buying google, amazon, apple, you need to wait three times longer.

For the past few days it's been decreasing day by day

Nobody is going to tell you what to do, you have to decide for yourself.

If you don't own any bitcoins you should. That's my opinion. I won't tell you when to buy, but I strongly believe that every single person on this planet who has some spare cash should buy some bitcoin. It's too great of an opportunity to just watch it pass you by and the potential profit outweighs the risk.

Are you really going to support OP and lie that everybody wanted him to pump it?

I was happy when he had invested and thought a rich guy supports the project that I root for. I felt good, but It wasn't a pump by him. If he bought he had the right to tell the world about it and it's the same about him selling, I'd be fine if he sold and tweeted about it.

The problem with musk is he's making up false statements about Bitcoin and suddenly acting like it's a bad investment. He's confused and probably bipolar. That's why his stock is falling. He's not fit to run a company at this point.

What is happening now reminds me of all the news flash crashes that we've been through.
The Silk road crash, the bubble pop in April 2013 when it went from 260 to 40 USD and then 7 months later it was at a new all time high, the 2020 covid crash...

A year ago we were at 4000 USD! If you were not panicking back then, you will not panic at 30000 or 20000.

What's the worst thing that can happen if we go into a bear market? 20000 dollar bitcoin? I'll take it. That's still 5x growth from bottom to bottom in a year
If you're not ready for that and would go bankrupt if it were to happen just sell now and have one less thing to worry about.


Weren't you the guy who was saying it's game over for Bitcoin when it went into the 2018 bear market? Aren't you tired of being wrong?

It's not all about his tweets. The problem is that Bitcoin was already overbought at 60 thousand and many people knew it could correct so they had no buy orders set up at that level.
When Musk spew his hate and some people got scared and sold they sold into empty market.

When you have 1000 bitcoins and sell and there's only buy orders for 500 in the given range, the rest will automatically fill all the lower orders. If another big buy order is 2000 USD lower than that's where you'll sell your last coin. We are witnessing a domino effect that will stop when people calm down and realize it could be a good moment to buy again because what's done is done.

That's why it's called panic because people are not thinking straight. They are trying to get rid of bitcoin at all cost because there could be something wrong with it when reality nothing is wrong. It's the same Bitcoin they were paying 60000 USD for.

100 is just a number people like to use, a rough estimate, a milestone. When we say 100k it doesn't mean exactly that, it can mean 120 or 99. I'm also sure we'll have a second wave somewhere in Q3/Q4 of this year.

If negative news and FUD keep piling up this might be postponed to as long as 2023, but if you knew it's going to happen in the next 3 years, would you sell today and leave bitcoin because there could be a 2 year long bear market? I wouldn't  
I have money to survive without bitcoin for many years and I can wait. In 3 years my fiat money will be worth about 20% less thanks to inflation and I'm about 500% up on my bitcoin investment since 2020. Put ideology and fears aside and focus on pure math and you'll come to the same conclusion: bitcoin is better than money in the bank.

Isn't that what JPMorgan did a few years back? CEO tweeted how Bitcoin is stupid and that he'd fire anyone in the company if they traded bitcoin, next thing they are found to be trading.

Elon doesn't want Bitcoin, he needs company revenue on paper so he'll pump and dump, manipulate, tweet silly things, he'll do whatever it takes to show profit.

My opinion is that if he hasn't sold, he will, so don't count on his help or anything. Bitcoin survived without him for so long and it will keep on going long after he's gone.

By him I mean Musk because Musk IS Tesla. You can believe that this company is doing it on its own, but in reality there's a CEO who pulls all the strings. By saying that Tesla did something you're saying Musk, just like when you say Amazon did you mean Bezos.

Right after his tweet doesn't mean a month later. It means within a day or two because that's a direct reaction to him announcing it. Musk was only one of many contributors. Hedge funds bought more than him.

1 person on the biggest bitcoin forum bought a Tesla? You're basically proving my statement.

The company has a CEO who is held responsible.

Musk bought BTC and Doge privately as well and used the company to pump his private investments.

My bet is he's going to keep doing it with other coins. First he buys something else like Cardano, tweets about it o pump it and sells with a profit, then he decides he's going to build a new Tesla power plant to mine Bitcoin so that it's eco friendly again.

The only funny part in all this is Tesla's stock has been dropping like a rock for the last few weeks. Maybe the board spanked him for touching crypto?

Do you really believe in this? Tesla is Elon. If they sold it's because he told them so. Him saying that it was Tesla, not him is so childish and stupid like he's laughing at us thinking we're idiots or something.

Because he has a reason for it and the reason is money. He wants to pump another coin and show Bitcoin as weak compared to it. I wouldn't be surprised if it was Cardano which is pumping like crazy despite the rest of the market going red.


We still are, don't be fooled by trolls.

Let me quote you on that

Let's see the last 24h
BTC -9%
ETH -9%
Doge -15%
XRP -8%
LTC -14%
BCH -16%

Yea, BTC is dying, ETH and alts are doing great