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Author Topic: Bitcoin crashed below $48K, is the bull market in danger?  (Read 630 times)
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February 23, 2021, 10:39:37 AM
 #21

It is a little too early to determine and confirmation of a trend will be required. The drop to $45000 is scary and the price of Bitcoin could go lower for another week. I don't think this drop is threatening the bull run, but it is worth mentioning that it happened just two weeks after the end of the previous correction, and that it was mostly fueled by the news of Tesla investment in Bitcoin. Without a continuation in good news and very high prices for all assets a big correction was possible. My problem is again that it happened very early and perhaps the liquidity in the Bitcoin market is very lower from what we were expecting.
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February 23, 2021, 10:57:22 AM
 #22

Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.


https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger

The falling price is quite noticeable around 20% and yet the trend remains upward.

Some people claim that this decline is due to an address that sold 2,700 BTC worth $ 156.6 million (against $ 58,000 per token).

Santiment noted that the same address sold just before the collapse of the price of various assets in March 2020. At that time, Bitcoin lost almost 60% of its value and reached $ 3,600.

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February 23, 2021, 11:03:45 AM
 #23

I have noticed that the majority of people in this thread think that Bitcoin is not in danger. I dig this sentiment, but we must acknowledge the fact that although BTC now enjoys a rush of institutional adoption, we can still have major dips that might be "produced" intentionally by specialized hedge funds and algorithms in order to engineer liquidity for the big funds from the retail.

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February 23, 2021, 11:11:51 AM
 #24

Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.


https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger
it fell down to 46,000 level

https://coinmarketcap.com/currencies/bitcoin/

The lowest since the price surge to 50,000 this February , is there any News why does this Dumping happen ? i have not found any in cointelegraph.
I have noticed that the majority of people in this thread think that Bitcoin is not in danger. I dig this sentiment, but we must acknowledge the fact that although BTC now enjoys a rush of institutional adoption, we can still have major dips that might be "produced" intentionally by specialized hedge funds and algorithms in order to engineer liquidity for the big funds from the retail.
Reality tells yeah, People are just completely aware of this but they are hard to accept because of the recent uptrend that we cannot deny very overwhelming and promising .

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February 23, 2021, 11:42:59 AM
 #25

I have noticed that the majority of people in this thread think that Bitcoin is not in danger. I dig this sentiment, but we must acknowledge the fact that although BTC now enjoys a rush of institutional adoption, we can still have major dips that might be "produced" intentionally by specialized hedge funds and algorithms in order to engineer liquidity for the big funds from the retail.

What constitute though a major dip? 50%? 60%? We've barely touch $10% so I will say that we are still in the "norm" of market correction. Of course, there could be manipulation, (this is what I understand from the word "intentionally"). But I would say that we don't need to panic as the price still fluctuating from $48k to $50k. Just remember that last year around March, the price is $3k'ish. ATH in 2017 is around $20k. Still more than double in today's price.

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February 23, 2021, 11:48:34 AM
 #26

Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.


https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger

Nah! this is just some sort of decline temporarily and it will move as soon as the market will recover. Remember that most people are waiting for the price to decline and they will give their best to invest in it. Now we are having some decline in the price which is normally happen when the price is about to pump. You guys need to remain cool if you wanted to maximize your profit in this historical bull-run or sold it now and regret it when the price of BTC will create another history with its price in the market.

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February 23, 2021, 11:56:09 AM
 #27

Bitcoin crashed below $48K, is the bull market in danger?

Crashed?, really?, Bitcoin went from $3k about a year ago when the pandemic hit up to $58k (which is ~1900% upward movement) without any considerable correction and you call a 25% correction a crash?

I would call this price movement a crash only if it goes down to under $30k again and even then it would be still healthy and it can easily go back up again, I get it that these news website use this clickbaity titles to get more clicks and visitors but you should not do the same as them as official representative of some exchange in this forum.

Right now some people on Twitter just call different things and make market move in their desired direction whether it's up or down, better not to listen to these news and do your own thing whether you prefer to take profit here or wait it out.
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February 23, 2021, 12:03:52 PM
 #28

I think this is a normal scenario. We weren't going to go to $100k in a straight line (kind of). Fundamentals are there. In general, demand surpasses supply. If these days prices go down it is because some big whales are selling big chunks, like it happened with the previous retreat, that F2pool had been selling big amounts.

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February 23, 2021, 12:04:42 PM
 #29

not in dangered to me because to me the bull market is already done and over .
 cannot you guys see that the price is now going down ? if the market speak he will say that let me take a rest because you guys already did your part and now im going to have mine too  but back to reality the btc price was hanging at 48k ,
that was high and thats not in danger but for the scared guys they can do something to save the price from falling or to make the price return to where it was last day  .

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February 23, 2021, 12:07:25 PM
 #30

Even though bitcoin is in a crash it doesn't mean that we are now in danger, bitcoin dumps this day but it doesn't mean that it could continue to go down until it reaches $10k again, remember that the price of bitcoin reaches $3900 before last year and the good thing that time is that it recovers right away before the year 2020 ends, just to remember that bitcoin's volatility is unpredictable and anything could happen. I am still holding and still believing that bitcoin could reach more than $50k this year.

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February 23, 2021, 12:48:46 PM
 #31

For sure, a lot of people are not worried at all. There are even happy that this happen as it is the best time to reinvest. The price can't just spring all the way up in one go, it increase it's height a little bit and start another jump there. This might be the last time that we will be seeing the price at this mark, better take take advantage of it.

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February 23, 2021, 01:25:11 PM
 #32

no, still a little. called dangerous if the decline in bitcoin has reached more than 20%, then it is ready to fall even deeper. but so far I think it's still safe and still worth it.

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February 23, 2021, 01:28:06 PM
 #33

Back to 49K. We'll see where it goes as the US markets have risen.

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February 23, 2021, 01:52:07 PM
 #34

I think this is a normal scenario. We weren't going to go to $100k in a straight line (kind of). Fundamentals are there. In general, demand surpasses supply. If these days prices go down it is because some big whales are selling big chunks, like it happened with the previous retreat, that F2pool had been selling big amounts.
At this time, we can say that this was a normal fluctuation but let see how it changes in the coming days, lets wait for 3-5days.

Weak hands and late buyers may have the worries this time, I know they are thinking negative as they saw the declining trend. And what I worried about if they dump their Bitcoin, it for sure will affect the trend of getting worse if many will do the sell-off as well.




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February 23, 2021, 06:21:03 PM
 #35

I think this is a normal scenario. We weren't going to go to $100k in a straight line (kind of). Fundamentals are there. In general, demand surpasses supply. If these days prices go down it is because some big whales are selling big chunks, like it happened with the previous retreat, that F2pool had been selling big amounts.
At this time, we can say that this was a normal fluctuation but let see how it changes in the coming days, lets wait for 3-5days.

Weak hands and late buyers may have the worries this time, I know they are thinking negative as they saw the declining trend. And what I worried about if they dump their Bitcoin, it for sure will affect the trend of getting worse if many will do the sell-off as well.

we all have seen this happened in the past its normal, other times are worse. the dumps are where these institutions should just buy BTC if they really want to invest good for their investors punishing the whales who dumped at the same time. or could they be the ones who are also selling?  27000BTC is too much for a single whale so weakhands must have been along with them.


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Khaos77
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February 23, 2021, 06:24:55 PM
 #36

Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.


https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger

Crank up the barbecue.

There be Steak for Dinner.  Wink
mindrust
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February 23, 2021, 06:26:12 PM
 #37

Stocks are making a nosedive too. Could be the everything bubble popping. I remember I warned people few days ago. But what do i know...




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Golftech
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February 23, 2021, 07:03:40 PM
 #38

Honestly I doubt the price could crash below $45K and whether the bull market is gonna end or not I don't really know for sure but seeing the adoption and institutional investors it's gonna be tougher for bitcoin to go deep down. I expect people would just buy it back at certain price and the correciton is to be expected since bitcoin rally has been going up really high so far.
Don't doubt, expect that it will go down but do not panic about it because this is as they said a correction, price will bounce back up again. The best thing to do is to buy more bitcoin at a lower price because this is an opportunity to buy bitcoin.

But before doing that, make sure to assess the situation first. There are reason why the price is dumping
and knowing what's behind it is important to set your target, buying low and selling high applies whenever
correction happened, you are capable of sorting things out before buying your assets, this is the good time
to pick those cheap coins and hold it, the chance of pumping it back is always possible.

mezzaluna
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February 23, 2021, 07:11:45 PM
 #39

Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.


https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger

I dont really think that people should panic so much. This just shows that people are scared of losing money even though they know that investing in the Cryptocurrency Industry is risky. The bull run will have an end and people should not panic because that is only normal to happen. If Bitcoin skyrocketed at a much higher value, people can only lose more money if they are not awake at the time of the value crashing down. This fluctuations can happen over night at that is why every user must be brave to face the consequences that might happen.

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Bitcoinislife09
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February 23, 2021, 07:40:10 PM
 #40

Bitcoin price dropped below $48,000 in a major correction on Monday right before the U.S. market open.


https://cointelegraph.com/news/bitcoin-price-crashes-below-48k-but-is-the-bull-market-in-danger

I would consider the correction as normal because in the past weeks if we look at the chart in hours we could notice that the price is just pumping ridiculously so it's really normal to have a bit of a correction in a way. I think it's great if you sell your bitcoin at 58k$ where the peak of bitcoin is but other than that it's better to hold if you're aiming for a high profit. I think we're still good even in a 30% down because it's a bull market has a bit of a correction is just normal with a big pump in the past weeks.

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