Bitcoin in Freefall, What to Do?

[stskv]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

[eaLiTy]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

It is simple, catch the falling coins and have the patience to hold for a few months, the market will recover and i am sure we have not seen the rally everyone is expecting. There were huge institutional investment that rallied the price and what do you think they will be doing, book the profit and then reinvest again and there is nothing to be surprised here.

[DooMAD]

First and foremost, take all investment advice posted here as potentially incorrect, including anything I say.  

If you were unfortunate enough to buy at the peak, try not to panic.  Volatility is common.  It's nothing we haven't seen before.  But the honest answer is that no one knows what's going to happen to the price.  Ideally you should have determined your appetite for risk before buying.  If you haven't, make some decisions on where your "red lines" are.  Consider carefully before making any rash decisions.  Sometimes you have to just ride out the dips and hope for the best.  

[CODE200]

Bottomline is lack of assurance. If you have invested at a higher market value than its price at this moment, you better hold because partial loss will be permanent from doing so. If there is still profit and you are being hesitant to hold, then sell already than to regret it later if you know to yourself you cannot wait for its price to again increase. It is your investment and you should know what's best for it. Saying or encouraging those people to hold will push them to nowhere. Any investment has risks, so you should make an action you know will be the best. Ofcourse many people would say "Hold and do not panic" because the price is expected to again recover. But what if the price did not? And you'll need to again wait for months or years? So decide in accordance to your vision of this market.

[stskv]

I bought at around the $10,000 mark a few months ago.

[target]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

It is simple, catch the falling coins and have the patience to hold for a few months, the market will recover and i am sure we have not seen the rally everyone is expecting. There were huge institutional investment that rallied the price and what do you think they will be doing, book the profit and then reinvest again and there is nothing to be surprised here.

That is what I might just do too. I can grab some but will probably wait till I get a sign. It felt like it will just burst up or plunge down anytime.

If I have the money I will likely buy some that had been moving up faster recently like the Aave and XRP for it may just pump up again but will also be ready to dump when it hits the 19k. This is where we can see prices swinging up and down for days. Excitements gone now.

[dunfida]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

Nothing usual because these things do happen this is why its always been wise for you to make some sell or secure out profits when the price is already on the peak or
when everyone is already been hyped and greedy because thats one of the indications for the market to be already overbought.Clear indications arent might that too obvious
but you can make up some presumptions and that would surely base up into someones experience towards the market.Your guts and intuition will tell you
that this is the right time to sell or the right time to buy.Dont get yourself caught in fomo and always be wise.

[uneng]

Correction is expected after a sudden rise like the one we have seen in the past days. If the price pumps a lot and too fast in a short time period it's almost a certain the inverse will happen next. If people learned something with 2018's events they won't get scared and won't spread fear on the market, that is all we don't need at this moment.
However, if people insist to go this way again, bitcoin tends to get more time to recover itself, what isn't interesting for anyone here. Just keep holding.

[error08]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

it just a brief dip, nothing more than 17% correction so far, $18k supposed to be the lowest support level, but many people triggered by the fud which resulting the whole crypto market went into panic-sell to secure their profits before it's too late. So the main support levels are $16k right now and if this trend still continues, we may see it drop to $15k tomorrow. The market is more mature these days with many institutional investors with the intention for long term investment, so there's no need to panic.

[molsewid]

So what? Collect more bitcoin as long as you can and wait again for the right time to sell it. It looks like you didn't sell your bitcoin when it's already ready to harvest your profit. But my advice if you buy bitcoin at a higher price before compared to the price right now, collect more bitcoin at a time like this because it's always happening in bitcoin's price, so don't be afraid to the price of it may go down and think of it as an opportunity to have more bitcoin.

[thichtieuthuong]

I was really surprised that bitcoin fell so fast. At the moment I think we should wait for the return of Bitcoin. because Bitcoin often goes down and goes up again. we should not be too scared and worried about this time.

[aemma]

Everyone can give you his own version of advice or what to do, but still the best advice would be the one you give to yourself. First, no one can correctly answer your questions, because it all centres on what the future holds and truthfully, no one can predict such; it might be a repeat of 2018 or we might see another wave of growth when bearing in mind the good attention coming towards Bitcoin nowadays.
Also, Bitcoin holders who have been holding for a long time hardly bothers about this, because they are already in profit but if you are not a long term holder, and you are already in profit, then taking your profit now might be a good idea while you wait to enter again. Therefore, in my own opinion, in situations like this, if you invested what you can't afford to lose and already in profit, then take your profit and monitor the market to know the right time to enter again.

[usekevin]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

We should hope it won't reduce further more.Because some new traders may had brought huge bitcoin to get bulk some profit.If they fail on his first trading, they may move out of trading and it will indirectly affected us. The bitcoun will sustain in the market till their is demand of bitcoin in market.Just holding your bitcoin will be best move for now.

[Twinkledoe]

Every deep is a buy opportunity so buy buy and have the strength to hold till it rise again, the market is always volatile and unpredictable. So what else do one need I don't think the bitcoin price movement will be similar with 2018 I believe every year comes with it own unique Patten of market movement.

I  strongly believe that we will go back up again. Just part of the up and down movement. A lot are selling off but yeah, this is good opportunity for those who can afford more to increase their portfolio. We are expecting this kind of movement, as price is not always steady increase, somebody or many of them are selling off. But let's see what will happen for another couple of weeks? This year is not yet over remember.

[batang_bitcoin]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

Worse? how long you've seen bitcoin? just this time that it went $19000 or longer? That you have mentioned, always take it as a possibility but I'm still happy to see that it has gone through with this correction. Because bitcoin has to correct for it to show that there's a chance that it'll go higher than the peak that it made. Remember that the year hasn't ended and this correction is still higher than the price since March. I'd still be happy to buy some since it's on sale.

[figmentofmyass]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

these mini crashes tend to be brief. just hold on and enjoy the roller coaster.

if you're gonna panic, you should have panicked earlier in the $18000s. don't wait and wait and then sell because if you do that, you'll probably be selling near the bottom. i can tell you that from experience.

the market feels a lot like 2016 as we were meandering towards a new all-time high. we had some brutal pullbacks heading into 2017. i don't see this dip as a parallel to the 2018 bear at all. you're thinking too far ahead.

[oktana]

If you're a long term investor then you should not worry because I do believe that there be a time when $20k can buy only a fraction of bitcoin. And if you're a short term investor, I don't think your bought at 19k, so, you should have made your interest in the past few days and should have left the trade or sth. But forget all of these tho, bitcoin is volatile as demonstrated by the $3k down and you have to make your decision by yourself. It has always been a risk.

[zasad@]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

Look at the price charts in 2017. There was a similar situation. The market cannot keep growing.
This is just an attempt to take money away from the hamsters who bought bitcoin for 19,000 or more
Even if the bitcoin price falls by a few thousand more, then nothing terrible will happen. Next we are waiting for a new ATH.

[stomachgrowls]

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

Look at the price charts in 2017. There was a similar situation. The market cannot keep growing.
This is just an attempt to take money away from the hamsters who bought bitcoin for 19,000 or more
Even if the bitcoin price falls by a few thousand more, then nothing terrible will happen. Next we are waiting for a new ATH.

There's only two possible ways on where the price could go neither it could dump or would just tend to rise but circumstances like a dump before going to new ATH then its always plausible to happen.

Lots had presumed that this might be the last pullback before the price would go into its new ATH.Would it really happen? no one knows but theres always a possibility.
Correction or price decrease doesnt really mean that the market cant grow but we cant deny that lots had been dragged to that 19k price and now the big players
had already planned to make some profits.

It all matters on the demand if it would able to withhold this correction and will able to recover.Currently its up again to 17k and if this upward movement again will signify
an another round of bull.

[hatshepsut93]

I wouldn't call it a freefall now, freefall is what we had during the initial coronavirus hit, when Bitcoin reached lows no longer thought possible. Right now it already started recovering, which is a good sign, because it can mean that the bullish momentum might still be maintained. Previous bull runs weren't exactly a straight line from X to Y, they had corrections and drops too, and people got really worried at those points, but the price always recovered and kept growing.