Another Bubble popped?

[MoonIsBlue]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

[Hizzmoot]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

The price was ridiculous at some point, but it also made everyone hear about cryptocurrency. It was like free advertising for bitcoin and what is now interesting, the bubble might turn into something quite regular. Just my opinion, but it might remain in around $8-10 k (maybe 12?) for a while.
https://ibb.co/fiYxV7

I am not quite sure about that (as probably most of us), just wish best for bitcoin.

[romero121]

The China's contribution to the cryptocurrency network is big, even after regulated usage they were the head people leading to the fluctuation of the market. What's going on is just the impact of ban of social media ban of exchange services rendered in China. So, this is not a bubble anymore.

[darkangel11]

Right now there was no bubble and nothing has popped. The previous bottom on Feb 25 was lower than this one, so if we don't fall below that one it's still a bullish pattern. As long as the lowest points are higher as time goes by it's a good sign.
I suspect there were 2 things that might cause this dump. 1 is the news about the Gox money being put on auction and 2 is the problem with binance. When they sort it out the price will go back up.

[aso118]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

If you are calling the price of $11,600 a bubble, then it must be the mildest bubble that Bitcoin has ever had. I would classify this drop only as lateral movement around the $10,000 to $11,000 range. The price can remain under $15,000 for a lot longer than a year. The previous highs were due to an overheated market and we will take some time to see those levels again.

[bitcoinstress]

We never know as long we have great Wall, I'm sure the price will not falling deep. In my opinion the price fall because all holder want taking a profit.

[Duzter]

We never know as long we have great Wall, I'm sure the price will not falling deep. In my opinion the price fall because all holder want taking a profit.

Still it is hard to predict the real growth, because very few predictions get close to the real growth while the rest moves far away from the reality. The growth of bitcoin has got affected by the bad news, and if the users around the globe tend to cash out on panic automatically there will be price drops and the same will continue for more time period.

[hase0278]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

If you are calling the price of $11,600 a bubble, then it must be the mildest bubble that Bitcoin has ever had. I would classify this drop only as lateral movement around the $10,000 to $11,000 range. The price can remain under $15,000 for a lot longer than a year. The previous highs were due to an overheated market and we will take some time to see those levels again.

OP shouldn't have had called what we have seen as a bubble popping, IMO the bubbles we have seen in the past are way more enormous than this one. Instead of a drop, I would consider this as part of the normal swings that happens whenever btc is in a bullish trend. The previous highs were not only due to that overheated market, it is also caused by the fast growth in user's numbers. IMO many people have decided to start using bitcoin only last year or this year.

[Hizzmoot]

We never know as long we have great Wall, I'm sure the price will not falling deep. In my opinion the price fall because all holder want taking a profit.

Still it is hard to predict the real growth, because very few predictions get close to the real growth while the rest moves far away from the reality. The growth of bitcoin has got affected by the bad news, and if the users around the globe tend to cash out on panic automatically there will be price drops and the same will continue for more time period.

Exactly. It comes to the point where on one side you want to keep money in btc, on the other side, if panic starts, many of us will follow that and sell "savings" in btc just to avoid bigger loss.

E. regarding the drop, I would also avoid calling drop from 11k to 9,5k this way.

[Xardasim]

I think the reason of the dumps of Bitcoin is just panic sales, this happens all the time and you have to be prepared for it. But it may go down from 10k down to 9k again, because, in fact, Bitcoins are sold at that time when price declines by the people, those who are not experienced.

[Olrac]

Sadly yes, probably because of the result of continuing fears of the users about regulation and anxiety of the possible high profile thefts. In addition to the news of Korea banning bitcoin.

[jimbo2000]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

Today's price fall is not a bubble or even close to it, it also doesn't really signal that we're in a bear market (because of the reason behind it), it would be surprising if the price suffers for a whole year. The price was threatening again to break the resistance at 12k, next time it goes there I'm sure it will break it and then we won't see sub 10k ever again.

[Bardman]

You need to read some news, binance ''hack'' and regulations on japan but specially the binance issue drove the price down, nothing else. I'm expecting a rebound soon to where we were. If I had a dollar for every time someone said bitcoin bubble popped I would be a millionaire.

[richardsNY]

Support above $10,000 is just too weak to hold for a longer period of time, which isn't anything new. If you also take the thinner overall market in consideration, dumping the market down is nothing more than a peanuts job. Current drop was either panic regarding Binance or the SEC, or just a whale attempt to make people think it has something to do with the aforementioned. Either way, the market will climb back up again, and likely also get dumped back below $10,000 for a brief moment. If people expect fireworks in the coming weeks/months, then you're likely going to be disappointed, especially so if we can't manage to break through the $11,780 resistance point. I expect another jump up to break that resistance point before the end of next week, but another failed attempt will again result in either the $10,000 to be tested, or to drop below it. I see it as a great profit making opportunity.

[tomahawk9]

We're not in a bear market, and a  $1900 dip is not a nosedive drop, let alone a bubble popping, any other day that would've been just a correction. Binance FUD and some other news released earlier today caused some major panic selling among weak hands and noobs, nothing to be worried about. If anything the dip today was a golden opportunity for people to buy some cheap coins before the next bull run begins.

[Ultegra134]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

Can't call this a bubble, same event has occurred numerous times, it looks like a simple price drop, it's how the market is working. The price has been relatively stable the past few months. It will probably remain below 14-15k for quite some time.

[Baofeng]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

I don't consider the current spike a bubble though. It took us several days to get from $9.7 to $11.6 (probably a week or more). So its a normal price increase. Maybe people are just cashing it out simple as that. No bubble has bee burst here.

Full year? Are you kidding me? The longest bear trend that I have witness is around 3 months if I'm not mistaken. So I don't think that we will not gain any significant increase in a span of a year.

[Febo]

So looks like another bubble has popped and BTC is taking a nosedive dropping from 11600 to 9700 a mere 1900$ in 3 days. How long does a bear market normally last? I'm expecting atleast the full year, can it take longer?

Do you know what is a bubble popped?  20%?  LOL Bitcoin made 20% swings daily several times last year. Bubble popped means that price went down few times from ATH.  It went from 20k to 6k. In only few weeks. That you can say was a small bubble popped.   If you want to call 11k Bitcoin a bubble right now price need to tank to $3k range. Maybe will happen next week.

[Biscutard]

The China's contribution to the cryptocurrency network is big, even after regulated usage they were the head people leading to the fluctuation of the market. What's going on is just the impact of ban of social media ban of exchange services rendered in China. So, this is not a bubble anymore.

China is always doing it and it is sometimes irritating to see and heard such news but somehow they were on the right move. I wonder what is their next move next month, should it be a ban again or a attempted hack to their exchanges or something. I wonder if bitcoin will gonna rise up again and break that 12k resistance.

[xuan87]

No it's not popping, there are reasons for this dropping, the binance exchanges got some problem, there are some sudden huge transactions happened, and the Japan is try to clear the exchanges that not suit with the regulations, so this drop will be temporary, so don't panic