Bit Coin dropped 12% since morning ,where is it going?

[error08]

This isn't anymore a price correction. The price drop has begun, because at the moment the market drop is found close to 18% which is very big. Ethereum hasn't seen to drop big, however the values have been falling continuously. The price of bitcoin has reached arou $34000. People have missed the opportunity, who set the target as $40000 will be now enjoying the buyback.

it's the same thing, a correction = price drop.
This is the first correction since the last one at $19k.
based on bitstamp, today's price range $30500.00 — $38261.39, which mean -$7761 or -20%, if we count the ath at $42k = -27%
it can fall even deeper to -30% or -40% though if the prediction will be the reality but the support level at $30k seems to persist so far, it can rebound or continue to decline at any moment.

[DustyRah]

Where do you think its going? The pump is over. Its going to go back to $10k to $15k and then will settle around $20k. People who bought in at $20k are going to naturally take profits now.

The stronger dollar may have started this sell off. I would not be surprised if Bitcoin fell way down to about $10k over the next few days given the selling pressure at this time.

Bail out while you can, its flush time!

[darewaller]

Honestly the price went above 36k all over again, from the low of under 32k price, which should be an indication that people are not done with the bull run just yet, and price will go up. I would advise people to buy right now, right away, from under 32k or so price as of right now, it is not too much away, it is like 32997 or something, so it is nearly there, but try to get it from around these prices, don't go heroic on 39k price. And if you can buy from 33k price, wait for it, because there is a 50% chance it could go over 40k once when this is over.

I usually do not give suggestions because if I am wrong and price goes under 30k and you end up losing money because of me, I would feel horrible about it, but this is different, all of you should know the risks already, and we have done this multiple times already so I believe in bitcoins chances to go over 40k.

[wxa7115]

This isn't anymore a price correction. The price drop has begun, because at the moment the market drop is found close to 18% which is very big. Ethereum hasn't seen to drop big, however the values have been falling continuously. The price of bitcoin has reached arou $34000. People have missed the opportunity, who set the target as $40000 will be now enjoying the buyback.

Avoid being deceived by ethereum, ethereum for the most part does not move independently of bitcoin, it took some time for ethereum to begin to crash but it has began already and as expected its crash is even bigger than the one we are seeing in bitcoin as its growth was not justified at all and was supported by speculators.

While some people are sad about the drop in the price, this is fine, we are still above the 30k level which means that sooner or later we will have another opportunity to try to get another ATH.

[thecodebear]

This isn't anymore a price correction. The price drop has begun, because at the moment the market drop is found close to 18% which is very big. Ethereum hasn't seen to drop big, however the values have been falling continuously. The price of bitcoin has reached arou $34000. People have missed the opportunity, who set the target as $40000 will be now enjoying the buyback.

Your Legendary status makes me think you've been here a long time. But your comment makes me think you're new here. If you think 18% is a big drop you haven't been around very long. This is just a correction, an expected and healthy correction that will fuel the next big rise later this winter/spring. Actually the correction hit 28% now, which still isn't even that severe for a typical correction. 2017's corrections were about 42%, which would bring the price down to $24k/$25k. I very much doubt it'll go that low. But even then, nothing to worry about. Price will be pushing new highs again next month. This is the time when panic sellers lose money and buyers gain money.

[KTChampions]

~
The stronger dollar may have started this sell off. I would not be surprised if Bitcoin fell way down to about $10k over the next few days given the selling pressure at this time.

Bail out while you can, its flush time!

I think this is an unrealistic scenario. Such a drop is huge both in natural numbers and in semantic (below the previous ATH) in such a short time will mean something close to collapse. It is unlikely to stop. I do not believe in the reality of such a scenario. And if to argue objectively, 30K is the price that just recently everyone only dreamed of.

[francois-cooper]

last support ta remain  bullish for the mid term is 26k.

[stomachgrowls]

Wow, what a ride . I sold for cash on Friday. I'm buying back in when I see it level off for 2 weeks . I made 400% on Friday ,but 100 will be ok this time . Hang onto your hat folks ,were in for a real ride ,yipee kiyi !

Had already bought in in 31k and now i had already profited as the price had able to rise up $2000 in a short span of time. 12% correction? This isnt something for you to get shocked into this market.

Feeling sorry for those who had bought on $41k and able to panic sell when its dipping down way below.Well, as usual where there is always some shook off for weak hands.
Ready for an another run? This pullback might really be some those typical corrections and readying up again on breaking highs.Lets see
if it would really be doing this time.

[SlimShadyMmp]

Unpredictable and unaware move that just shakes everyone out and move upward or downward but I think this kinda sharp move won't repeat

[Wulan_maniez]

Bitcoin has always proven itself how to raise prices and lower prices quickly, as we saw in a few minutes bitcoin could drop by as much  as $2000.
Even  bitcoin  is  not  dependent  on  pandemics  to  dispose of. The real  reason that  whales try  to  take  advantage  early  when  bull  runs  hit.
If everyone sells frantically, it will trigger lower prices and an opportunity for the pope to buy back at a cheap price. And for the other  hands that
have missed the bullrun this time.

[Lucius]

Where do you think its going? The pump is over. Its going to go back to $10k to $15k and then will settle around $20k. People who bought in at $20k are going to naturally take profits now.

The stronger dollar may have started this sell off. I would not be surprised if Bitcoin fell way down to about $10k over the next few days given the selling pressure at this time.

Bail out while you can, its flush time!

No need for FUD, we already had a similar pullback if I’m not mistaken with $34k to $27k, and a similar thing has happened now. The price has already reached $36 600 today, and it's probably only a matter of time before it reaches $40k again - a similar thing happened after the last halving, only now the numbers are different and people have a hard time with a 20% dip.

Weak hands have once again shown why the rich are rich, and the poor are mostly left with empty pockets.

[Vishnu.Reang]

So this is the third time in less than a month that Bitcoin is making such a rapid recovery after >10% correction. And on both the previous occasions, new ATH levels were reported a few days after the recovery. And I hope that this time also it will be the same. What makes the difference now is that the investors are well aware of the 4-year pump and dump cycle. So even if the whales try to manipulate the prices, the experienced users may not dump their coins. On the other hand, they may use this opportunity to accumulate more coins.

[xcaret]

this is like riding a bronco at the rodeo .

[Lanatsa]

So this is the third time in less than a month that Bitcoin is making such a rapid recovery after >10% correction. And on both the previous occasions, new ATH levels were reported a few days after the recovery. And I hope that this time also it will be the same. What makes the difference now is that the investors are well aware of the 4-year pump and dump cycle. So even if the whales try to manipulate the prices, the experienced users may not dump their coins. On the other hand, they may use this opportunity to accumulate more coins.

Hard to tell because you wouldn't know if those whales or the majority will really be having the same thing in mind for them to move the market.

12%? this is just a typical or normal day on this market where bitcoin could really move in a short span of time and then made up some recovery afterwards.

Therefore, to utilize up these movements then better to make some decisions neither you would accumulate while its still cheap or would just wait for the right time.
The question is , would you able to know on when?

[jostorres]

So this is the third time in less than a month that Bitcoin is making such a rapid recovery after >10% correction. And on both the previous occasions, new ATH levels were reported a few days after the recovery. And I hope that this time also it will be the same. What makes the difference now is that the investors are well aware of the 4-year pump and dump cycle. So even if the whales try to manipulate the prices, the experienced users may not dump their coins. On the other hand, they may use this opportunity to accumulate more coins.

These type of recoveries happen because people do believe in what is going to happen with bitcoin is to get it increased a lot, that is just how bitcoin works these days, everyone is bullish and that is why everyone thinks bitcoin will go up constantly. However just because we "believe" it will go up, doesn't mean it will go up, so people instead decided that they should buy bitcoin in order to both get richer while doing it, but also make it go up because they bought, so all those drops end up with bitcoin going super high.

We had like 5 or so drop and increase during 20k period as well and eventually we have peaked over 40k, which shows you that when there is a drop and up type of cycle it doesn't mean it is crashing, it just means it is getting ready to increase all over again, and that is why I think we are going to be over 40k once again very soon after this.

[LUCKMCFLY]

It is difficult to determine in which direction the Bitcoin market is going, what if you know and have certainty is that many large companies have been making large investments in Bitcoin, some gold investors prefer Bitcoin, they see it more as a safe haven despite many circumstances.

[KTChampions]

Hard to tell because you wouldn't know if those whales or the majority will really be having the same thing in mind for them to move the market.

12%? this is just a typical or normal day on this market where bitcoin could really move in a short span of time and then made up some recovery afterwards.

Therefore, to utilize up these movements then better to make some decisions neither you would accumulate while its still cheap or would just wait for the right time.
The question is , would you able to know on when?

Given the fact that the correction began in many markets, it is safe to say that this is a global trend and it concerns not only bitcoin. Now, a lot will depend on regulators and liquidity in the markets - if it is not enough, then the fall can be strong and bitcoin, as a highly volatile asset, will fall faster than the stock market.

[BuNga_cute]

When Bitcoin managed to go up to the price of $ 40,000 I did sell some of the Bitcoin I owned, because I believe Bitcoin will be corrected first
so that it can go higher. It turned out that my prediction was right, finally the Bitcoin price dumped. Then I bought again when the Bitcoin price
was $ 32,000. And now it's up to $ 36,000 again. Hopefully this week Bitcoin can get back to the price of $ 40,000.

[imstillthebest]

When Bitcoin managed to go up to the price of $ 40,000 I did sell some of the Bitcoin I owned, because I believe Bitcoin will be corrected first
so that it can go higher. It turned out that my prediction was right, finally the Bitcoin price dumped. Then I bought again when the Bitcoin price
was $ 32,000. And now it's up to $ 36,000 again. Hopefully this week Bitcoin can get back to the price of $ 40,000.

That was smooth buddy . are you planning to sell at 40k again ? Or are you gonna up your game this time ? but I guess correction was over and we can now go beyond 40'ish .

It is difficult to determine in which direction the Bitcoin market is going, what if you know and have certainty is that many large companies have been making large investments in Bitcoin, some gold investors prefer Bitcoin, they see it more as a safe haven despite many circumstances.

That's true that there are big investors involved on btc , we that are already know this won't get panic or scared anymore because we know that once price drop , those investors are going to buy and buy making their wallets filled up with btc's and making btc price return to normal

[exstasie]

The pump is over. Its going to go back to $10k to $15k and then will settle around $20k.

You're an old timer, you know better than that!

There was no immediate 50%+ dump from the top, as seen when the 2011, April 2013, November 2013, and 2017 bubbles popped. So in my opinion, the pump is nowhere near over.

In the end stages of the bubble, we should be getting 20-25% daily gains. The rally to $42K was rather tame, as one would expect them to be in the early stages. We ain't seen nothing yet!

I would not be surprised if Bitcoin fell way down to about $10k over the next few days given the selling pressure at this time.

Bail out while you can, its flush time!

$25K is technically still possible, although time is running out. Once this correction is over, $25K will be gone for good. There is no guarantee whether this correction meanders sideways (no lower lows) or if the $30K low will be breached.

$10K is gone forever.