Bitcoin Price Abruptly Drops 4%, 12 Hours after Fresh 2019 High at $5,450

[AjithBtc]

Compared to last month price this drop wont affect it very much in the gain it got till now. A bit of feeling but a true lost of faith would be much worse. The market players doing there thing.

Last month the market fluctuations were high compared to the present month. From the beginning days we have been experiencing growth with some form of price fluctuations happening with time. Even now we reach $5400 and suddenly get back to $5200, this doesn't mean that market is getting down. When more investment flow takes place this will get turned to a large scale growth in the market.

[BitHodler]

I have a hedge trade placed at $5430 and $5495 in case this is the actual yearly top and we head back down from here.

With hedge trade you are referring to a short position? If so, what exchange hit $5495 that you used to short Bitcoin? As far as I can see, every exchange topped out below $5495 but maybe you used a foreign exchange.

The interesting part about this increase is how people initially believed it would crash hard, but so far it hasn't, and to my surprise, the volumes are still fairly reasonable compared to the usual volume drops during weekends.

What I realistically look at after analyzing the charts is a potential 10% peak or a potential 10% dump, so I prefer to not take a trade and remain neutral until we see a move initiate. Choosing a direction is similar to gambling.