Is Bitcoin creating panic again?

[Kelvinid]

snip~

The current uncertainty of the situation is that we do not know whether people have enough free money to survive the time of the quarantine that is now continuing. If this money is not enough, then people will again be forced to sell their cryptocurrency and prices in the cryptocurrency market will again slowly fall, or at least generally stand still. We really need to observe the market for now, because now the situation is unpredictable.

And something we look at the market movements by now, we think that it drops but it was in the opposite. But I'm a little bit worried if these people won't make their way to hold until halving and then lose their hands.
It gonna be right, we should have to look for what it is better and understand the situation around. Investing at this point seems to be in less consideration especially when we just rely on what we have today. The pandemic is really crashing in an individual's life, we can't move freely, we can't make money to support, and that is really hard.

[TitanGEL]

snip~

The current uncertainty of the situation is that we do not know whether people have enough free money to survive the time of the quarantine that is now continuing. If this money is not enough, then people will again be forced to sell their cryptocurrency and prices in the cryptocurrency market will again slowly fall, or at least generally stand still. We really need to observe the market for now, because now the situation is unpredictable.

And something we look at the market movements by now, we think that it drops but it was in the opposite. But I'm a little bit worried if these people won't make their way to hold until halving and then lose their hands.
It gonna be right, we should have to look for what it is better and understand the situation around. Investing at this point seems to be in less consideration especially when we just rely on what we have today. The pandemic is really crashing in an individual's life, we can't move freely, we can't make money to support, and that is really hard.

The panicked is over where there is a major dumped that happen, right now the price is consolidating and for me it is a good thing because there us a bullish signal. If there will be a major breakout that will happen, expect a rally that will happen but if there will be a breakdown that happen where the major support got broken, maybe we should let go our position and cut it in order to prevent more losses because it is a sign of weakness

[el kaka22]

$7.4K is a good level for us right now, we do not need to go any higher because that is not really needed, however we cannot afford to go any lower neither, we are literally right at the middle of doing mediocre right now and that is a very very thin level that can't be broken. If we go upwards to above 7.5k I am 100% certain we will also go above 8k as well, I do not see bitcoin staying around 7.7k or whatever, if it goes above 7.5k even a bit, it will also go above 8k which will be an awesome bull run.

If we go under 6.5k, I also do not see it staying around those levels neither, it will probably go under 6k as well. So, right now any movements one way or another 500 bucks will result with over a thousand bucks worth of movement since it was all pumped up and stuck and couldn't move so that move wherever it is will be really big.

[Smitty Werben Man Jensen]

Bitcoin chooses a different path, you already know that halving will start, and surely this is Bullish for the crypto market, specifically Bitcoin, but altcoin does not all increase, if you choose SHORT from now you will cry, the target is at $ 8000 before halving starts I am sure it will be achieved,

[btc78]

Panic is normal for those who are so afraid in losing and not counting the chance of making profit.

and we must also consider that without those panicking people then the price will never favor us investors lol.

Bitcoin chooses a different path, you already know that halving will start, and surely this is Bullish for the crypto market, specifically Bitcoin, but altcoin does not all increase, if you choose SHORT from now you will cry, the target is at $ 8000 before halving starts I am sure it will be achieved,

Not be so sure mate,remember that the Locking down is extending longer than the previous target date.

[Janation]

Bitcoin chooses a different path, you already know that halving will start, and surely this is Bullish for the crypto market, specifically Bitcoin, but altcoin does not all increase, if you choose SHORT from now you will cry, the target is at $ 8000 before halving starts I am sure it will be achieved,

Not be so sure mate,remember that the Locking down is extending longer than the previous target date.

I agree that we should not be that calm about the incoming halving since we never know what might happen.

Here in our country, lockdowns are gradually lifting though it would still take almost a month before completely lifted. Precautions are still advised but I don't think it would impact the halving that much. I guess we could just see a price not that high after halving. I think we would be able to see a price pump in the upcoming months after this pandemic.

[LogitechMouse]

The price of BTC right now is at around $7500.

I'm not bullish on BTC right now but not that bearish too. Either way, lets just expect for what will happen to it. The world and the market in general right now are full of uncertainties. Nobody expected that Crude Oil will go to $0 in an instant. There are many uncertainties already so with Bitcoin, this is not new already and its normal already at its price is driven by price manipulators and sentiments of the investors .

[Yamifoud]

The price of BTC right now is at around $7500.

I'm not bullish on BTC right now but not that bearish too. Either way, lets just expect for what will happen to it. The world and the market in general right now are full of uncertainties. Nobody expected that Crude Oil will go to $0 in an instant. There are many uncertainties already so with Bitcoin, this is not new already and its normal already at its price is driven by price manipulators and sentiments of the investors .

The situation isn't normal for me, the crisis that we are fighting today has widen its market effect. If we prolong the situation, it possible that more uncertainties will be shown and panic will getting worse. It was surprising how Crude Oil becomes no market value, isn't we think that it happens before and it will happen again these days. And something I have think that this COVID-19 isn't just a virus to kill people but to kill businesses as well and I think also about market competition.

[michellee]

Currently, the price of BTC has surpassed $ 7k5 and is now sideway in this area. I think it will correct to $ 7k3 and will continue to increase until the fomo weakens. Your analysis is plausible but I think it will appear in the medium-term trend. In the short term, BTC will increase further and it will gradually adjust sharply to around $ 6k5 before continuing the moon. we have more reasons to be patient because covid 19 has not really ended and Europeans are still strongly influenced. At the end of the epidemic, debt will increase sharply and may cause a major recession and bitcoin cannot increase sharply in the near future.

Sideways in this area is better than sideways in 7200 a week ago. The correction hopefully is very brief because it seems that if they last longer than a week, we drop even lower. I'm not sure why halving so close isn't having an impact though. Bears selling a lot?

Yes, you are right. At least, bitcoin price now still at $7,500, and although the price it seems hard to increase to $7,600, we still have a chance to see that price soon. If situations are better than now, I think we can see that price in the next weeks, so we need to prepare for that time. Hm, I don't want to expect to see the bears in the next week, but we cannot do anything if the bears still come next weeks. I hope that this time, bitcoin can be stronger than before, so the price can rise more than now.

[aioc]

If there's no pandemic today anyone can do a prediction and 100% it will turn out to be ok, but we are in a different situation now it's hard to make the exact price predictions I just go with the flow, the important thing is the market is ok, we have the halving and there are already cures in the virus although, still in a clinical test, we'll get there, the big question is when.

[coinfinger]

People always seem to be confused about what bitcoin is capable of, right now we are seeing a prime example of that.
People imagined it would go down, it went up, now they are thinking it will continue to go up and I am sure it may even go down right now.

So long story short do not really underestimate what bitcoin can and will do, it can go up, it can go down, and it can do this at anytime, there is no "it will do this" type of sentence in bitcoin world, there is always "it may do this" and that is why we are not getting super rich at all, if we knew what it is capable of doing before it did it, we would all purchase or sell before but we are not, only a rare handful of people can be right back to back and even they are not always right.

The only people who are considered right are the people who constantly buys bitcoin to put aside for retirement fund, that is the only right way that won't fail.

[shoreno]

If there's no pandemic today anyone can do a prediction and 100% it will turn out to be ok, but we are in a different situation now it's hard to make the exact price predictions I just go with the flow, the important thing is the market is ok, we have the halving and there are already cures in the virus although, still in a clinical test, we'll get there, the big question is when.

there is no such thing as 100 percent prediction mate  . prediction means you are only predicting or your not sure so its not 100 percent  while there are rare occasions that a prediction succeed but this is only a co incedent  .

you already said market is fine and yes that is true . btc is now getting stable so that can also result for people to not panic  .  thats a good news too if there are now cures , if that became succesful  then people can recover again and more growth for btc as expected

[Free1bitco.in]

If there's no pandemic today anyone can do a prediction and 100% it will turn out to be ok, but we are in a different situation now it's hard to make the exact price predictions I just go with the flow, the important thing is the market is ok, we have the halving and there are already cures in the virus although, still in a clinical test, we'll get there, the big question is when.

times of panic may have passed. when COVID-19 exploded, almost all industries went down, even bitcoin, and certainly caused a lot of panics. at the moment, it seems like things are not so freaking out, because evidence from that the price of bitcoin is slowly recovering. I suspect that in the near future, there will be no panic, even I feel that a high rise can occur.

[jhonjhon]

The tragic and unexpected way of drowning business institutions really affecting the minds of the people and truly panicking. It was a surprise drop and not all of us are prepared for this scenario. The way of recovering is still slow and not knowing how long we should get over from this situation. The panicking situation will get worsen when the big businesses will also shutting down as it will affect the crypto market.

[BlackFor3st]

As you can see BTC Doesn't Looks good at all as of noey ! Loosing momentum, Strong Resistance ahead, Hidden Bearish Divergence all are Indicating that we may see a Significant drop in upcoming days !

Only hope for Bulls is that they Make a Strange moves and Anyhow Breaks and Fixes above 7500$. Below that Mark, it's Better to stay out of this Asset !

Important Levels to Watch here is : 6500$, 6200$, 5800$

Let's see how it goes.

It already broke 7500$ and it will continue to increase knowing that the bitcoin halving is very near but I am worried if it can really push the price that hard especially that we are currently facing a pandemic right now. But base on the last few days, the market is very positive which is gaining a green remark until now so we can expect that it will continue until the halving will happen.

But after the halving will be very crucial because if the bull run will not be triggered then there is a big chance that the market will crash again especially if the pandemic will not be resolve.

[Yaunfitda]

[snip..]

As you can see BTC Doesn't Looks good at all as of noey ! Loosing momentum, Strong Resistance ahead, Hidden Bearish Divergence all are Indicating that we may see a Significant drop in upcoming days !

Only hope for Bulls is that they Make a Strange moves and Anyhow Breaks and Fixes above 7500$. Below that Mark, it's Better to stay out of this Asset !

Important Levels to Watch here is : 6500$, 6200$, 5800$

Let's see how it goes.

It already broke 7500$ and it will continue to increase knowing that the bitcoin halving is very near but I am worried if it can really push the price that hard especially that we are currently facing a pandemic right now. But base on the last few days, the market is very positive which is gaining a green remark until now so we can expect that it will continue until the halving will happen.

But after the halving will be very crucial because if the bull run will not be triggered then there is a big chance that the market will crash again especially if the pandemic will not be resolve.

Well when the OP posted this, it was like six days ago, and that time we have been struggling the breake the next resistance which is $7200. And it seems that the market suddenly went on a run to $7500-$7700 which makes me excites but at the same time, could be a bear trap.

So let's see if this is really a bullish signal prior to the halving next month. A good $8k is not that bad, actually we have doubled the last lows for this year already, which is $3800. So everything is really pointed to a good direction, but I will still remain cautious.

[onrise]

We are now seeing btc prices is started to pull back up now with each passing days. Compared to last week the movement is shifting up and what I think is that many big investors or even country may start investing in this crypto considering that stock markets will continue to bleed in coming time as well. Crypto may their investment which could give them positive returns even in this dropping GDP of the world.

[FanEagle]

Well, the reason why bitcoin price is going higher is the simple fact that virus is right now but the crisis is not right now at all.

I believe, all those people who didn't have any money left already are in big trouble, however there are plenty of people who are going to run out of money eventually that didn't reach to that point just yet, that means people might be unemployed and staying at home and not going outside, but they might have some stash somewhere aside, which means they are going to end up running dry one day and that will be the real big crisis, until that moment we are going to see people coming into bitcoin and leaving and doing that repeatedly constantly.

But in few months if nothing survives, by September or so we are going to see a big fall, not just on bitcoin but on everything in life.

[Barbut]

Panic is always around, this is the crypto market, I mean what we are talking about here? We already experienced, some of us, 90% drops and we are still here, doing the same thing we did before! Give it or take it, in crypto you are always in some kind of dilemma, what to do, which coin to buy, to cut losses, to long it, or simply buy Bitcoins with all money you have! It's always something, is it a buying fever, or panic selling, many of us try to earn on that and we live for those moments to sell on top and buy again on the bottom.

[wozzek23]

I am not really going to say anything against OP, they can be right about their calculations and analysis normally but there could be something that happens between then and now that changes everything. However this should basically be a proof that TA is never the solution, you can do TA as much as you want and in the end if you are not really doing it carefully enough something totally unexpected could happen that causes you to lose money.

There is no sure fire thing about bitcoin price prediction, nobody can predict it correctly all the time, you can be right sometimes and you can be wrong sometimes and you just live with that. So, just because OP gave an info, we all saw that doesn't mean it will happen, but it also doesn't mean he will be wrong each time.