Crypto market-cap dips below $300 billion as doom and gloom continues

[bobo012]

I respect all your comments, and it appears that some of us still cannot accept the bearish sentiment that started on January. That is ok, we are human and we make mistakes. But what gives me unease is if we are stuck in a state of denial, then it may indicate that the market might still go down.

I think that now everybody has acknowledged that we are in a bear trend. As i said it took me a while, until that descending trendline formed. It can last for a while until we bottom out and star to go sideways...

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[BitHodler]

I still think there is too much demand for bitcoin to experience long bear markets. We love to hear good news anyways so this is the best thing I can at least say. We all wish to see all these market will recover..

Good news won't be able to do anything. If the demand isn't there, good news at most will translate into a tiny spike up, that a few days later will plummet back down to even lower levels. That's the hard reality.

The demand we're experiencing is clearly not strong enough to sustain even current levels, which should be clear by now. Currently my hope is still that the $6000 bottom won't be broken through.

If it happens anyway, then brace yourself for what has to come, but on the other hand, this decline won't last endlessly. When the demand is able to sustain the price again, we'll be up for a gradual increase.

[lx001]

I have witnessed during the last years that the markets return to ATH's, but now I am somehow sceptical even though I am still holding my bags. I have lost so much that there is no point in cashing out now. I did not follow the "take profits" rule. I ask myself more and more frequently if we ever will see previous levels, maybe this was the very top in January and we are not going to see anything like that ever again.
https://trends.google.com/trends/explore?q=Bitcoin

[grimesrhymes]

I have witnessed during the last years that the markets return to ATH's, but now I am somehow sceptical even though I am still holding my bags. I have lost so much that there is no point in cashing out now. I did not follow the "take profits" rule. I ask myself more and more frequently if we ever will see previous levels, maybe this was the very top in January and we are not going to see anything like that ever again.
https://trends.google.com/trends/explore?q=Bitcoin

It would be nice if these trends actually gave something in terms of numbers of people. It's just a range, it's no surprise that in December there was a huge frenzy of people searching for bitcoin but all we actually know is that it was about 4 times as many people as are currently searching. This in likelihood is still probably a really small percentage of the world and in a few years time the 100 of December could be 10 or less.

[richardsNY]

It seems that the support around $7300 managed to at least for now, keep its position. If we look at the spread between the last bottom and today's bottom, then it was just $5, and that shouldn't really be coincidence. I bought myself some extra coins today to lower my average buying price, and will continue doing so all the way down, but I'm mildly optimistic about the market from current levels to not go down much further. If you don't buy at current levels and keep waiting, you might find yourself to yet again to miss out on a great opportunity. People thinking it will go down to $3000-$4000 should stop dreaming, it won't happen.

[bbc.reporter]

@richardsNY. You should be very careful in making such bold predictions. It is easier for bitcoin to go down to $4000 than to go up back to $20,000, I reckon.

Also, it is bewildering that if you ask the same people if it was still possible for bitcoin to reach $20,000 again this year, their answer would be a very easy yes hehehe. Maybe the denial is still strong in some of us.

[dothebeats]

Too much optimism is wrong and ignoring signs hinting towards a massive crash is also wrong. You can hold all you want, we don't care, but the numbers don't lie and it's there just waiting for you guys to make your next move. The smarter ones have pulled off their assets in the mean time yet the in-denial ones are still trying to make themselves believe that this is just another regular crash which isn't similar to the 2013 bubble. Oh dear, the massive craze about bitcoin has already died out, and the bears, I think, would be ruling the markets in the next coming months.

[Saidmod]

@richardsNY. You should be very careful in making such bold predictions. It is easier for bitcoin to go down to $4000 than to go up back to $20,000, I reckon.

Also, it is bewildering that if you ask the same people if it was still possible for bitcoin to reach $20,000 again this year, their answer would be a very easy yes hehehe. Maybe the denial is still strong in some of us.

I agree, and this is true the chart and news says it gonna be reach $3000k that is a strong bearish. For the mean time people are too bullish with $20,000 within this year. The market is too afraid to enter now a reason why people is denial most especially to the new people here in crypto.

[dothebeats]

Without any incentive for the price to rise, there'd definitely be no push that's gonna happen anytime sooner. Besides, the craze has already died and there's no way the price could take a hard push after all the negativities surroounding bitcoin. Right now, if $5500 can't hold, we can see ourselves tumbling down all the way to $4000 or even lower, which is still a great starting point for future pushes.

[darewaller]

It took me a while to acknowledge myself we are in a bear trend, but hey i have seen it before. Longterm, and i mean about 5 years from now i see a bright future. We will see how the triangle will play out now in April, breaking up or down. News about lightning network being embraced and ETF would sure help us.

Yeah, it is really nothing new and for one fact, that would still give us a chance to at least have some more for the future. Who cares anyway? Bear trend, bull trend are all just some way to make some people believe what they want to believe since there are lots and lots of greedy people in the market and if they are willing to get greedy to give up their funds for no reason, who am I not to take it?

Don't always be optimistic as sometimes it can lead you to loss of money. What made you think we will soon see a big price increase? I don't see any news or rumors that are soon to be fact that will drive bitcoin to new all time highs and big bullish movements and even if I do, I only see it correcting later on. It is just the right time to draw conclusions now because if not, you will see the real conclusion even before you make a speculative one.

I would not say optimism is bad if he understands what makes him optimistic, he is looking forward to the future and he obviously have in bitcoin what he can afford to lose. In cases like that, I would not really send the market in anyway. Also, anyone who is even a trader should not even be affected with what is going on in the market, since at the end, they can always re-strategize.

[Farstdury]

I have witnessed during the last years that the markets return to ATH's, but now I am somehow sceptical even though I am still holding my bags. I have lost so much that there is no point in cashing out now. I did not follow the "take profits" rule. I ask myself more and more frequently if we ever will see previous levels, maybe this was the very top in January and we are not going to see anything like that ever again.
https://trends.google.com/trends/explore?q=Bitcoin

I agree. For the different reason that I do not cash out now. I think with the increased usage of both Bitcoin and Bitcoin Cash, the price will rise eventually.

[rickadone]

Now it is too early to draw conclusions. Bitcoin is still popular. Now bitcoin prices are relatively stable and therefore speculators brought part of the capital. They are attracted by volatility. But bitcoin continues to be traded on stock exchanges in large volumes. Soon we will see a big price increase. I'm sure of it.

This is not even about popularity, this is the fact that we are in a bear market but who cares really? We are all aware of the volatility in the first place before even coming into this space and in as much as some people are crying, some are just busy having their normal day going on. It has happened before, it will happen again and there is nothing anyone can do about it.  At the end, it is just all about the future, isn't it?

[imapessimist]

The secret has got to be buying in the dips and selling on the rises.  If you miss the boat then you'll have to wait for the next time.  What is the point of holding for the next five years.  Nobody knows where Bitcoin or any other coin will be in five years time.  Obviously you won't always get this timing right.  But if you just sell a portion of your coins when the price rises then you can make a bit of profit.  And then if it goes down at least you've made something. 

[MidKnight]

I remembered last year that the btc market is steady and strong when it was still over B150 so going under B300 is not really serious for me or even critical. Let them weak holders get out.

[richminded]

I remembered last year that the btc market is steady and strong when it was still over B150 so going under B300 is not really serious for me or even critical. Let them weak holders get out.

Yeah, those time people are panicking just to own bitcoin and now they are panicking to sell their holdings. Bitcoin is still good right now since the price are quiet stable on that level and hopefully will not go deeper. People may leave this but bitcoin will surely bounce back without those weak hands.

[wuvdoll]

Yes, we are in a bear market, but I don’t care. I watch other people crying while I yawn.

The bears are really not playing at all and they are seriously having a swell time as it is. It is one of those things anyway and the thing is that there is good side to everything. At least, we have low fees which has even become crazily low these days, we have the time to load up some the more, irrespective of how the market tends, and the most important thing here is that in the long run, there is always a repetition. So, it is always good time in the market.

[Lieldoryn]

I have witnessed during the last years that the markets return to ATH's, but now I am somehow sceptical even though I am still holding my bags. I have lost so much that there is no point in cashing out now. I did not follow the "take profits" rule. I ask myself more and more frequently if we ever will see previous levels, maybe this was the very top in January and we are not going to see anything like that ever again.
https://trends.google.com/trends/explore?q=Bitcoin

I agree. For the different reason that I do not cash out now. I think with the increased usage of both Bitcoin and Bitcoin Cash, the price will rise eventually.

So I think a lot of people. But it seems to me that this opinion is the main reason for the bearish trend. Bitcoin must be a currency in order to be able to resist the actions of speculators. I believe that the price of bitcoin will increase but it will happen only after there will be an opportunity to use bitcoin as a currency.

[TravelMug]

Well it has dawned to me that we are already going to see more of the bearish trend as April doesn't give us a glimmer of hope. We thought that we have recovered in the beginning of the month, going above $7K in the next couple of days until the day traders decided it was time to dump again and take the profits.

So a lot of holders are still thinking of going long term or just do short trading to cover what they have lost in the last couple of months. All we can do is hope that one day the bull will take over this market from the bears and see the price going 5 figures again.