Bitcoin Drops Below $12K After Biggest Daily Price Move Since January 2018

[CryptoGirl7]

View
- Bitcoin’s price volatility, as represented by the daily trading range, jumped to a 17-month high on Wednesday.
- The cryptocurrency has dropped from $13,880 to $11,200 in the last 15 hours and could slide further to $10,000, according to the bearish setup on the hourly chart.
- A possible falling channel breakout on the hourly chart would open the doors to a retest of Wednesday’s high of $13,880.
- The outlook on the long duration charts remains bullish.

Read more: https://bitcoin2day.net/bitcoin-drops-below-12k-after-biggest-daily-price-move-since-january-2018/

[janggernaut]

That's the risk if you have bought bitcoin at the peak. When it was down from 11k, many people thought it will back to 10k or even lower, but after passed 1 day, the price keep increasing and reached $13k. People are also thinking if it would be hit $15k but sadly, it's down to 11k now

[WalkerIVIV]

View
- Bitcoin’s price volatility, as represented by the daily trading range, jumped to a 17-month high on Wednesday.
- The cryptocurrency has dropped from $13,880 to $11,200 in the last 15 hours and could slide further to $10,000, according to the bearish setup on the hourly chart.
- A possible falling channel breakout on the hourly chart would open the doors to a retest of Wednesday’s high of $13,880.
- The outlook on the long duration charts remains bullish.

Read more: https://bitcoin2day.net/bitcoin-drops-below-12k-after-biggest-daily-price-move-since-january-2018/

This is what i called that as a correction, the bitcoin has already tested above 13k rate and this time it's the time for the speculators to take a rest and waiting for the next momentum to pump the bitcoin again.
It looks like the barrier is so strong and so many people are willing to buy bitcoin right now.

[almiani]

I see that it is a reasonable correction, because if it continues to increase it will be worrying and will make the market unhealthy, I see there will be an upward reflection for BTC before moving stable

[Coroline]

View
- Bitcoin’s price volatility, as represented by the daily trading range, jumped to a 17-month high on Wednesday.
- The cryptocurrency has dropped from $13,880 to $11,200 in the last 15 hours and could slide further to $10,000, according to the bearish setup on the hourly chart.
- A possible falling channel breakout on the hourly chart would open the doors to a retest of Wednesday’s high of $13,880.
- The outlook on the long duration charts remains bullish.

Read more: https://bitcoin2day.net/bitcoin-drops-below-12k-after-biggest-daily-price-move-since-january-2018/

not new about that people will think of selling bitcoin when they see the price of bitcoin down to the figure of 11k $ maybe tomorrow will reach 10k $ and maybe it will return to 13k $ I think that is just a correction because lately bitcoin hasn't corrected staying calm

[didzi]

I see that it is a reasonable correction, because if it continues to increase it will be worrying and will make the market unhealthy, I see there will be an upward reflection for BTC before moving stable

yes, maybe a big whales taking their profit now,, so the price down hard
but, in my analysis the price of bitcoin will not go under 10K USD my friend

[1982dre]

Well it's isn't rocket science that it would have a drop like that. It just go up all the time.

[Mighty_crypt]

I see no threat in bitcoin present movement though I bought mine at 3500$ per bitcoin ,this movement will be dangerous to those who wants to invest now but all I see is correction and I believe the price will continue to surge after the correction

[fortunecrypto]

That's the risk if you have bought bitcoin at the peak. When it was down from 11k, many people thought it will back to 10k or even lower, but after passed 1 day, the price keep increasing and reached $13k. People are also thinking if it would be hit $15k but sadly, it's down to 11k now

That's why people should be very careful remember it happens just last month, everyone is rejoicing because Bitcoin is moving fast upwards only to make a huge downfall, because of whales manipulation so better not buy in bulk, but hey good time to now, who knows it will hit the $15k level next week.

[sangjoewara]

I see that it is a reasonable correction, because if it continues to increase it will be worrying and will make the market unhealthy, I see there will be an upward reflection for BTC before moving stable

Right, because if the price continues to increase then when it falls it will also occur continuously, actually all of this has a plus plus too, just better to rise slowly so that the market can be more stable and everyone can monitor it properly.

[Nalbo]

There was a huge buy of bitcoin around the time the bull run started. The buy was funded by fiat. That means whales have entered the market. Current bull run was just temporary. They are preparing for even larger price pump followed by a similar sized dump.

[rachman mahesa]

I am not surprised by the current prices. Because it is impossible for Bitcoin to always fly further and this possibility is only a correction. So, when the price of bitcoin is starting to decline. Of course you have to believe and don't worry about it. Because many suspect this is only a correction (if correct) and after that ... you already know the answer.

[[btc]YSG]

That's the risk if you have bought bitcoin at the peak. When it was down from 11k, many people thought it will back to 10k or even lower, but after passed 1 day, the price keep increasing and reached $13k. People are also thinking if it would be hit $15k but sadly, it's down to 11k now

Now BTC keeps dropping, it has dropped  to $10,600 and it may to $10K or below that If it continues with the down trend. After the market becomes stable again then we can think of $15k price.

[tsaroz]

It's having a nose dive at current moment. Everyone that cashed out high were lucky. I'd again start buying bitcoin when it goes below 8K and would not sell in between 8K and 12K further. I was lucky to have sold 50% of my bitcoin while am still holding the rest 50%.

[bitkanu]

Well it's isn't rocket science that it would have a drop like that. It just go up all the time.

This. The price pumping is so hard that it does make sense like as you said. But seeing that I missed the opportunity to cash out is just kinda silly on my end.
It seems that the market is trying to find a spot to stay before it could go further, even the volume keeps increasing rapidly.

[kindbtc]

Massive correction almost 3k in a day, this is extreme volatility it did not take long after 10k to reach over 13k and it was even quicker to come back, i know some people will call it pump and dump but this is the real beauty of btc and crypto the volatility so enjoy.

[creeps]

I think Bitcoin no longer follows a bearish trend. In my opinion, this is a common correction and in the near future he will show growth again.

It drops and pumps again as of posting, so i also think that the bear trend is no longer in the market. The recent dump is part of profit taking, i guess as we end the second quarter bitcoin will start to pump again. Lucky to those who catch bitcoin on its recent bottom, there a profit for you now so contine to buy if you see more dip.

[kodtycoon]

this year cryptomarket is definitely going to be bullish and there is no need to panic because of a big correction that happened, because i'm personally very sure this year is the recovery year to reach new ATH in the next year

[jazmuzika217]

Volatility is always on Bitcoin its pump up and drop then pump up again  price cycle that why you need to understand but in this scenario we already in Bull run but not like 2017 run if you confidence this will boom again then invest now and ride the train.

[btc_angela]

It went $12300 as far as I know and now the price seems to be just below $12k now. So not that bad correction after reaching highs of $13800. As far as why the price goes down? it's simply correction is due after a massive increase. But at least it's very healthy as the price didn't dip below 4 digits.