Bitcoin Breaks Below $50K as Market Sell-Off Continues

[el kaka22]

Well, bitcoin is nearly at 50k again, ethereum at 2.3k levels, bnb managed to break over 500 too. It looks like whatever that crash was, it is over now, it is not crashing any longer. Now everyone has to think if that was it and there won't be no more, or if there is a bigger crash coming in.

I believe this was getting rid of all the debts, borrows, lending, long futures, even some short futures because they will take profit, getting rid of all of that and purely going back up again from 50k to 70k+ levels with another very powerful test. You may think I am a dreamer but there is enough money in the crypto world to test something like that, and that is what I believe will happen. Obviously we are not sure, maybe it will crash even more, maybe it will go under 30k in 10 days? Who knows, I just think that 70k+ will be tested in May after such a crash happened.

[BITCOIN4X]

Well, bitcoin is nearly at 50k again, ethereum at 2.3k levels, bnb managed to break over 500 too. It looks like whatever that crash was, it is over now, it is not crashing any longer. Now everyone has to think if that was it and there won't be no more, or if there is a bigger crash coming in.

I believe this was getting rid of all the debts, borrows, lending, long futures, even some short futures because they will take profit, getting rid of all of that and purely going back up again from 50k to 70k+ levels with another very powerful test. You may think I am a dreamer but there is enough money in the crypto world to test something like that, and that is what I believe will happen. Obviously we are not sure, maybe it will crash even more, maybe it will go under 30k in 10 days? Who knows, I just think that 70k+ will be tested in May after such a crash happened.

In February the price of bitcoin reached ATH at $58K and experienced a correction to $42K and then the new ATH was formed in March at $62K. Then we also saw the correction occurred on March 25 to $50K, then the new ATH was also formed in mid-April to become $64K. Now that the correction has occurred to $47K, is it possible to see the formation of new ATH again?

I think the pattern is still the same, but nothing really can guarantee that ATH will happen again. We just hope the Asian market doesn't have a bigger influence from Biden's new rule.

[milewilda]

Up to the present time, Bitcoin only 50k; this is a very rapid decline in the current exciting time. JP Morgan has also confirmed that if it cannot return to 60k soon, Bitcoin will be in danger of breaking down. I don't think the situation is that bad, but it could even drop to $ 30k. I think I should swap to USDT on SnapBots for more safety. What do you think? Someone experienced, please give advice!

https://www.coindesk.com/bitcoin-breaks-below-50k-as-market-sell-off-continues

The price do able to withheld on 50k price which does signify that theres really a strong support on this level.It did really able to go below 50k but it didnt really last long.
Freaking out is common and panic is there when we do see the decrease in price is too fast in a short span of time.Sell off? I dont see for it to go down further unless
if there are more events which would pile up on the current issues we are facing on then expect that the market will even go down further but lets hope for those
situations or events on not to come.We are aiming or hoping for 100k for this year and this might be the last dip that we might see before we do take off.

[777Jolami]

It's not a really bad situation, if you have the money, you can probably buy some bitcoin right now and hodl it until the prices go up again, if the decline continues then you should probably buy more to hodl more bitcoin because in the long-term, you are going to get more bitcoin.

All the recent three-day events involving fake news are once again in rampant attention.  Xinjiang region of China power failure, Exchange in Turkey, Mogan, Biden ... etc, Lol, Clear combination of attractive eyes.  Now bitcoin hits the $ 50k mark again, but will we have the strength to repeat better states sooner?  go and up.

[Baofeng]

It's not a really bad situation, if you have the money, you can probably buy some bitcoin right now and hodl it until the prices go up again, if the decline continues then you should probably buy more to hodl more bitcoin because in the long-term, you are going to get more bitcoin.

All the recent three-day events involving fake news are once again in rampant attention.  Xinjiang region of China power failure, Exchange in Turkey, Mogan, Biden ... etc, Lol, Clear combination of attractive eyes.  Now bitcoin hits the $ 50k mark again, but will we have the strength to repeat better states sooner?  go and up.

Well, you don't need to be a rocket scientist to understand what's really going on and what is the reason for the sudden fall <$50k. There are a lot of negative news again and then there was this FUD going around as well. But since we are all for the long term here, it doesn't affect us. On the contrary people see it as an opportunity to scoop bitcoin again. It's evident, as the price is now $50,500 from as low as $48k in the last 24 hours. So we have bounce back.

[Kemarit]

Up to the present time, Bitcoin only 50k; this is a very rapid decline in the current exciting time. JP Morgan has also confirmed that if it cannot return to 60k soon, Bitcoin will be in danger of breaking down. I don't think the situation is that bad, but it could even drop to $ 30k. I think I should swap to USDT on SnapBots for more safety. What do you think? Someone experienced, please give advice!

https://www.coindesk.com/bitcoin-breaks-below-50k-as-market-sell-off-continues

The price do able to withheld on 50k price which does signify that theres really a strong support on this level.It did really able to go below 50k but it didnt really last long.
Freaking out is common and panic is there when we do see the decrease in price is too fast in a short span of time.Sell off? I dont see for it to go down further unless
if there are more events which would pile up on the current issues we are facing on then expect that the market will even go down further but lets hope for those
situations or events on not to come.We are aiming or hoping for 100k for this year and this might be the last dip that we might see before we do take off.

Yes, but it did put some scare and panic when the price went to $48,000. For sure more people panic seeing this price as it broke a big psychological barrier of $50,000. Luckily though, buyers outnumbered the sellers so we have a minor bounce to $50,000-$51,000 now.

And as those news gets buried, investors are going to forget about it. And then we are on the way to recovered above $50,000 and we are back to normal, in line with the $100,000 prediction this year.

[adaseb]

It's not a really bad situation, if you have the money, you can probably buy some bitcoin right now and hodl it until the prices go up again, if the decline continues then you should probably buy more to hodl more bitcoin because in the long-term, you are going to get more bitcoin.

All the recent three-day events involving fake news are once again in rampant attention.  Xinjiang region of China power failure, Exchange in Turkey, Mogan, Biden ... etc, Lol, Clear combination of attractive eyes.  Now bitcoin hits the $ 50k mark again, but will we have the strength to repeat better states sooner?  go and up.

Well, you don't need to be a rocket scientist to understand what's really going on and what is the reason for the sudden fall <$50k. There are a lot of negative news again and then there was this FUD going around as well. But since we are all for the long term here, it doesn't affect us. On the contrary people see it as an opportunity to scoop bitcoin again. It's evident, as the price is now $50,500 from as low as $48k in the last 24 hours. So we have bounce back.

There is no negative news. The news of the capital gains tax increases was brushed off by the SP500 and it doesn't seem like the crypto market would be affected much either. It only applies to people who make over $1M a year anyways which doesn't affect most people only institutional investors.

This drop was mostly due to the high open interest and leverage we have in the BTC and ETH futures markets. Remember when we had a crazy 5-6% futures premium about 3 weeks ago? That works out to be almost 100% APR or so. This was due to massive amount of people going long on leverage and hence why we got like $10B in liquidations a few days ago and yesterday about $4B worth of liquidations.

Doge hitting almost 50 cents was another indicator that we are over-leveraged. First the shorts got liquidated and then the bulls went full leverage on Doge and they got liquidated. Way too many people made way too much money fast and this is what generally happens.

[Reatim]

Up to the present time, Bitcoin only 50k; this is a very rapid decline in the current exciting time. JP Morgan has also confirmed that if it cannot return to 60k soon, Bitcoin will be in danger of breaking down. I don't think the situation is that bad, but it could even drop to $ 30k. I think I should swap to USDT on SnapBots for more safety. What do you think? Someone experienced, please give advice!

https://www.coindesk.com/bitcoin-breaks-below-50k-as-market-sell-off-continues

At least maintaining this level sends Positivity for all Bitcoin supporter , Though i have sold some of my Bitcoin at 63,000 Yet i took this advantage to re buy again and add 30% of my bitcoin holding when the price drop down to 47,000 couple of days ago.
Its always a good time for all supporters to see an entrance of buying more and not just continue growing and growing .