why Bitcoin sudden dump, when it will bounce again...

[STT]

So Facebook is about to ruin crypto  

I'm not exactly going to disagree but a basic principle would be good currency is not diminished by the existence and current power bad currency might have.      Every product has to justify itself, find a way to do so in order to be valid.    Seems like the fight will go on for people to retain actual ownership of their own assets without forfeiting control to central bodies and ultimately debasement.



Price rises well but is on a ceiling with 8 day average.   Seems an ok place to take a stance, observe the direction for significance we find from here.   Close on a 4hr bar is confirmation I want to see if we get past blue line

[exstasie]

Very trolly price action, with breakouts failing in both directions. I'm not too confident in any outcome at the moment, which means this is a no-trade zone. Time to sit back and wait for something obvious. I'm looking for a break above the $10,700 area or a break below $10,100. The structure is kind of drippy and the larger trend is down so I'm 60/40 bearish:

[South Park]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

No one can tell you precisely what the bottom will be but since markets have a tendency to move in extreme ways I think the bottom could be close to 5k only to reach a more stable price between 6k and 8k, the dump is happening because many people have been expecting for the price of bitcoin to recover and as soon as it reached their set target they began to sell, this has also caused panic among some investors and they did the same, so the bears have taken control of the market and I do not see them losing control of it for some time.

[SirLancelot]

I think the sudden dump was due to the fact that we have gone up so much that people actually wanted to cash out their profits, if they could cash out their profits then they would profit and since the price was super low just couple months ago there was a lot of people who bought from those cheap prices and wanted to sell for double and even triple of their profits which caused the price to plummet.

In order to go back up we need to have people who are willing to buy from this price again and that is the easy task because people always buy bitcoins but also we need to have people who do not want to sell at these prices and that is the tough task, if we can convince the sellers to stop then it will bounce back up again, how we will do that is a mystery because if knew it then we would do it constantly and increase the price to 100k+ already.

[pooya87]

Very trolly price action, with breakouts failing in both directions. I'm not too confident in any outcome at the moment, which means this is a no-trade zone. Time to sit back and wait for something obvious. I'm looking for a break above the $10,700 area or a break below $10,100. The structure is kind of drippy and the larger trend is down so I'm 60/40 bearish:

exactly! at times like this the best thing anybody can do is to simply stay out of the market until a breakout starts and bitcoin takes a clear direction and sticks to it. for the time being this is a sideways market with 100% unpredictable directions in a tight channel.
i wouldn't call it bearish though, we are still in the bull market but only taking a little pause and pull back which is also scaring people away for the time being.

[Questat]

There's no bear market, this is more like a correction, market is not going back to the old bear market yet, it has to recover first and probably reach a new ATH before it will be back with long correction again.

There was a dump, we saw it, bitcoin fall below $10,000 but that's just at least for a day or two, and good news is we are back up again, stable at $10,000.

[imstillthebest]

There's no bear market, this is more like a correction, market is not going back to the old bear market yet,

before bitcoin was already on the 10k usd levels then the btc value jump from 11kusd up to 18kusd and higher  but now we are back again at the 10kusd level   . thats what you call a bear market but i think it can also be considered as a correction  .

Re: why Bitcoin sudden dump, when it will bounce again...

bitcoin sudden dump is caused by several reasons  .  that is manipulation  , people solds thier coins   ,  correction  ?   ,  and many more  . 
to the question when it will bounce again ? well idk and we dont know  but you can ask those big whales and other people if when is the time that they'l be buying again .

[Johnzky]

Bitcoin facing another bear market suddenly...

Not because the price is falling it means we aren’t bull market again because that’s very frustrating in 0tt of readers

what would be the bottom price of btc, Is there is any technical analysis to find?

This is the effect of what Donald Trump says weeks ago and a domino effect as well

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

Bitcoin will surely bounce back,we have been in too many falling but this great coin continue to recover even sometimes it took long before happening

[YOSHIE]

I think bitcoin is currently healthy in terms of prices in trade in every market,
But the circulation of prices for now tends to have to be vigilant of price movements, maybe it can go up and vice versa.
So conclusions in this month or this year, are pretty good for short-term trading, different from last March.

I think for now it hasn't entered the category of headaches, meaning normal.
Anasila graph:

[figmentofmyass]

I think for now it hasn't entered the category of headaches, meaning normal.
Anasila graph:

harmonic patterns aren't reliable until they've actually completed. it's not really a pattern at all until the XABCD has formed. i think that guy is just trying to fit the pattern so it hits his chosen support level. it's possible but i don't think it's likely. based on the 2016-17 bull market, i doubt we'll go much below the 20wma. within a couple weeks, that means the $8000s.

[YOSHIE]

within a couple weeks, that means the $8000s.

just look at the time it arrives, what happens, for me not to think at the beginning of this year Btc to the level of $ 8000s. instead down....
Instead, I think BTC can go to the lowest to $ 6000 and go up to the level of $ 15000.
My advice is that you stay focused on strong principles and principles.

[iMark]

Very trolly price action, with breakouts failing in both directions. I'm not too confident in any outcome at the moment, which means this is a no-trade zone. Time to sit back and wait for something obvious. I'm looking for a break above the $10,700 area or a break below $10,100. The structure is kind of drippy and the larger trend is down so I'm 60/40 bearish:

exactly! at times like this the best thing anybody can do is to simply stay out of the market until a breakout starts and bitcoin takes a clear direction and sticks to it. for the time being this is a sideways market with 100% unpredictable directions in a tight channel.
i wouldn't call it bearish though, we are still in the bull market but only taking a little pause and pull back which is also scaring people away for the time being.

Sometimes waiting is the right thing if the market conditions do not allow you to trade, when prices are stable with a small margin of movement, and you still have no idea where prices will go up or down, then waiting for a clear and obviious opportunity might be a good idea, better waiting for the opportunity to come rather than having to trade with a big risk behind.

[Slow death]

There was a dump, we saw it, bitcoin fall below $10,000 but that's just at least for a day or two, and good news is we are back up again, stable at $10,000.

the situation is not the best:



If the price does not increase much in the coming days, I speak of rising above $ 11000, so we should be prepared to see the price of $ 7000 again. People like Anthony Pompliano remain very optimistic:

ECB Money Printing Is ‘Rocket Fuel’ for Bitcoin Price, Says Pompliano

But honestly, I see the price falling in the coming days

[BitHodler]

If the price does not increase much in the coming days, I speak of rising above $ 11000, so we should be prepared to see the price of $ 7000 again.

If the current trend is continuing and every attempt to reach higher fails, which so far seems to be the case, the best short term scenario will be a near $11k wick, but I'm pretty sure it will be sold down within a day or two.

I have seen some theories where people see a major bull flag play out as we speak, but similarly, I can draw a descending triangle that's playing out as we speak to counter that.

People like Anthony Pompliano remain very optimistic:

ECB Money Printing Is ‘Rocket Fuel’ for Bitcoin Price, Says Pompliano

But honestly, I see the price falling in the coming days

I like Pomp's enthusiasm, but he is a non-stop perma bull who even during a bear market repeats his bullish statements. I prefer to take his statements with a grain of salt in order to not be biased and sucked into a bear market like a sheep.

I was very conservative before we broke the $6000 mark last year and it helped me a lot in terms of not being upset about how the market has taken such a massive dump. Instead, I used it as an opportunity to buy cheap coins.

[exstasie]

I wouldn't be so sure about it bouncing back in the coming months. Maybe by coming months you mean the next 12 months because that's possible but reaching new highs in the next 4 or 5 months is going to be very difficult if not impossible.

Why do you think so? During the 2016-2017 bull market, most corrections lasted 1-2 months. The longest was less than 3 months long. So 4-5 months is reasonable (actually conservative) by those standards.

[Herbert2020]

i seriously doubt that there would be any difference between Libra and PayPal. in my view they are exactly the same thing and people (the end users) don't care or even notice what the underlying technology is, whether it is a simple database (aka PayPal) or a blockchain (aka Libra) in the end they will be having an account linked to their identity on a website controlled by a company that acts as their "online bank".
and i don't think they are going to put any kind of links between their coin and bitcoin, their website, their paper,... don't even mention bitcoin. not to mention that it will be centralized.

Libra is similar to what XRP is today, but then even more centralized. You will have your private keys, and you will be able to store your funds offline. PayPal does not offer you that in any shape or form. That's where Libra and financial institutions such as PayPal differ on a fundamental level.

As far as being linked to Bitcoin goes, that will happen through crypto exchanges where they already offer support for USDC, USDT, PAX, etc. Libra will be the next one to enter the list of stablecoins. It will help prop up Bitcoin's price and make sure capital stays within the system just like how capital in the aforementioned stablecoins stays within the system.

but XRP lets you do all those things like having a wallet and storing your private keys on your own because they want to pretend that they are decentralized. if you check out their statements it is always in the same manner. you can also run its wallet and stake it. it is proof of stake afterall.

but Libra is not like that, they are not hiding their centralization and they won't let anybody near the "blockchain". it will be a private ledger for them which means you won't be able to actually have a "wallet" and if you store your private keys it would be like storing your facebook password on your own! which is why i consider it similar to PayPal.

[creeps]

This isn't a sudden dump, it was predicted to take place. As the price rebounced reaching a value of $13000+ the market was crowded by investors. Further the drop of investment has lead to the fall that we're experiencing. This can be considered a price correction and might fall even low, it is good to use the opportunity to profit as there is increased chance of price pumping soon.

We saw that with a help of technical analysis though its pretty fast to dump we should still not panic because the best price will still come. If you look at the market with bitcoin it is still strong at a cheaper price again its good to hold. Profit taking will dump the market but it can’t kill any trend right now with bitcoin.

[exstasie]

We had quite a strong Bitcoin price drop yesterday but it recovered pretty quickly. Hopefully, we won't stay long below $10,000 :O

Based on this TA the next few days will be critical, we must not drop below the support line:

There's a bunch of lines on that chart so which one? $7,570?

If so, I'd agree that's a pretty important level. Losing $7,500 means breaking the parabolic structure of the bull trend. Not necessarily the end of the world, but it would probably kill any hopes that we're entering a bubble this year.

[STT]

Good guess, the blue line is where immediately I'd drawn to pay most attention because I'd think the market will also return to where it has most often previously visited.      Anywhere with alot of prices ending their highest peak or bouncing many times as if they found firm ground, that a lay line or an area of significance that markets tend to forget.   Volume exists there and maybe even actual old orders to buy and sell.

kill any hopes that we're entering a bubble this year

Bubbles are not good, they pop and then its likely gone.   BTC I would like to stay around for years, the price now is really a distant worry when we consider the long game.    Dont worry about the price this year, its already done well enough.

[exstasie]

kill any hopes that we're entering a bubble this year

Bubbles are not good, they pop and then its likely gone.   BTC I would like to stay around for years, the price now is really a distant worry when we consider the long game.    Dont worry about the price this year, its already done well enough.

I'm not comparing Bitcoin to tulips here. I'm just referring to 2011, 2013, and 2017 as "bubbles." You may not like it, but if Bitcoin retains its long term bullish trend, there will definitely be more of these bubble cycles. It's just a question of when: 2019 vs. 2021, etc.

It's an extremely illiquid asset prone to massive speculation. Let's say both retail and Wall Street are accumulating. Heck, maybe even governments will someday, as with gold. What do you think that would do to price? A slow and steady uptrend?