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

[xcaret]

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 !

[xcaret]

It dropped another $2000 since I posted that minutes ago.

[Vaskiy]

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.

[BigBoy89]

It dropped another $2000 since I posted that minutes ago.

IMO we are entering the period of the roller coaster. I expect to see many +/- $2000-$3000 in upcoming months. But I don't think anyone can predict the sequence of these moves.

[batang_bitcoin]

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 !

$30,000 - $34,000 might be the support this time. I've also sold some at the peak but don't know if I'll be buying back as I need to use the money that I've made on selling. Those who have bought on $40,000 - $42,000 might be the new weak hands on this time.
There's another series of panicking and there will be another blaming of bitcoin by those investors that didn't think of using some charts pattern and analysis.

[bitadelco]

Historically bitcoin has retraced at least 30% from every all-time high as people begin to take their profits. What will be interesting to see with this bull run is if the dips are as pronounced % wise as they historically have been with the increased institutional interest this go around.

[maydna]

If this situation continues, the bitcoin price will go down to $30k-$34k as @batang_bitcoin, but we hope that the situation will be better this week. It is a correction that I think deeper than before, so if you want to buy more bitcoin, it is a good time to buy, but you need to watch the market and analyze it before doing something. If the price can not stay at $35k this day, we might see a down again tomorrow because I see the downtrend still occur at the market, so make sure you analyze deeply to find the other good time to buy bitcoin.

[UserU]

I just sold some Bitcoin yesterday before the crash happened. Damn, was it scary!

[Ultegra134]

Definitely not the first time it's happening. Similar crashes have occurred the past several weeks, no bigie. Just consider it an opportunity to buy and then sell at a higher price later on, in the future. In a couple of days, it will probably recover.

[UserU]

Still waiting for bitcoin's strong support at 28-30K. If this passes, I think Bitcoin will hit the 18K point. But the volume that occurred this morning was quite large to make a big decline. Even though I previously read speculators and also Elon Musk will bring bitcoins to 100K?

Nah, Elon has little to do with BTC. Only TSLA matters to him.

[Crusherxy85]

No need to panic.

It is correction after reaching ath.

Just normal.

Imo it will recover next days and getting to next ath...

[muenze]

If Elon Musk started using BTC for large transfers at Tesla the price would probably reach 70k if not 100k.

Lots of other companies would follow and alot more trust and attention.

It seems now the setback is a bit like when it was at 27k/32k for a while. Shaking off all the large BETS on Bitcoin price, and getting more people to sell (some people prefer to sell when its low as they get scared), plus breaking thru s/l

Also its Sunday so maybe wall street taking a day off from buying like crazy.

[sayamoslam]

It dropped another $2000 since I posted that minutes ago.

[kentrolla]

Oh no, I don't think it's a correction as the price has dropped to 12% straight away. Guys it's time to rethink and plan I guess the time has started for BTC to go down, don't blindly trust other and don't be too greedy.

In the near term the key for BTC is to remain above 20k support level, However for short term holders this is not the right time to enter the market analyze it and then buy if you are desperate. The most important thing is guys don't panic and sell understand the market and go through the technical charts and then make a decision.

[samputin]

I just sold some Bitcoin yesterday before the crash happened. Damn, was it scary!

Good for you mate. Scary indeed! But as for me, I think I have missed an opportunity. I was thinking to make another sell in the past few days but I keep myself from doing it in hopes that the price will still increase. But turns out the price is now starting to crash. Well, it has happened. I'm still glad I made profit. Least I could do now is to hold and wait for another spike.

[Coinsfera]

Considering that institutional investors and important companies support the bullish trend this time, it does not sound convincing to say that retailers will drop the price back significantly.

[Argoo]

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 !

I have periodically sold my ethereum in small batches lately, but last time at the price that the coin has dropped to now. Now I have a certain amount in USDT, so if the market falls further, I will buy, but will grow, I need to determine a temporary price peak and sell. I am more and more convinced that simply holding the top cryptocurrencies is ineffective. You need at least periodic trading when prices are clearly going up or down. What will happen next - we'll see. It looks like this year will be very interesting for cryptocurrency market participants.

[masterrex]

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 !

What an intense price drop or correction in just a day, But as always said Bitcoin is a volatile asset thats why everyone shouldn't be surprised when we see that huge price drop, but the price was still around $30K so it still big and far from $18K as other was predicted so let us wait and see.

[tinopener]

Well I just bought a $750 top up about 5 hours ago at 39k, and is now down to 32.5k.

Feel the adrenaline and the blood on my hands from the falling knife 

[OcTradism]

The drop is what lots of bitcoiners and institutes are waiting for to load up more bitcoin in their portfolios. Is it right to say they are very happy to see the drop in the early morning today?

It is meaningful drop for bitcoin too as after months of climbs, bitcoin needs to be cooled down and it helps the bitcoin to have a more sustainable growth in price. The price target is higher for this bull run but it is not a time to reach it. Corrections, accumulation again are necessary and soon we will see bitcoin touches $100,000.