The reasons why Bitcoin price drops recently

[willywilly]

1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

[Fesatmas]

if so, that means there is a dump with a large amount of bitcoin, for example the American government did not tell the public that their assets were withdrawn in bitcoin. isn't it currently still a polemic about the existence of bitcoin in the country with the largest bitcoin users. maybe you can give me some references for us to read regarding their withdrawal statement from bitcoin.

[HeRetiK]

Does a 10% pullback count as price drop these days? Really?

We reached a new ATH not even 2 weeks ago. The price is "dropping" because that's what markets do every now and then, there's not much else to it.

[bolawin]

can the price go down to 40k?

[cryptomaniac_xxx]

It looks like a normal pullback to me, we have been trying to break $60k again, we have seen the price like 3 days ago going as high as $59k. But it rejected $60k, so the price obviously goes down because of the big wall of resistance. As for the comment of Powell, bitcoin has been considered a "speculative asset" already, nothing new to his argument.

[Lucius]

can the price go down to 40k?

Of course, nothing is easier than that - you need, say, a few thousand BTC to start a coordinated dump on 3-4 largest crypto exchanges, and an excellent PR manager who will at the same time spread the false story about how Tesla, MicroStrategy and some other companies sell their coins. Of course you can always find magic fairies to do it for you completely free of charge, if they are not busy with some important work

1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

For those who don't know who Powel (Fed Chairman) is, it would be good to post a link when you already claim that he is the reason why the price of BTC today is only $55 000, and not $57 000 as was the case yesterday. Is this something new we haven't heard before?

https://www.cnbc.com/2021/03/22/cryptocurrencies-are-not-useful-stores-of-value-says-feds-powell.html

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

That is probably good news, another 3 trillion with all those trillions of helicopter money that have already been distributed in the past year. The US dollar should really strengthen after all these interventions

[Poker Player]

I agree with the previous opinions that this is normal. Just a minor setback that was to be expected. For those of us who invest for the long term, all this does is yawn.

[jossiel]

1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

1. That doesn't even count as a reason why there's a bit of correction.

2. I don't also think that's enough reason why we've seen a drop.

Usually, the drops are really caused by most of us, the people of the market and don't think of it as something that you have to be disappointed in. They're normal drops and think how much gain we've made just for 3-4 months.

[rodskee]

1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

Good observation but You did not mentioned about the "Future Expirations" 

Speculative asset won't hurt crypto market anymore because Bitcoiners already Knows this sentiment for years now.

can the price go down to 40k?

Don't worry you are not the only one who's Praying for this drop , I even called this for Weeks now .

I agree with the previous opinions that this is normal. Just a minor setback that was to be expected. For those of us who invest for the long term, all this does is yawn.

Well it already recovered , from 53,000 now Go up to 55k again , i think this is the stable coin for the rest of 1st quarter because changing course next quarter.

[yazher]

I agree with the previous opinions that this is normal. Just a minor setback that was to be expected. For those of us who invest for the long term, all this does is yawn.

This is not some serious matter where everything is ruin in one day like what we have experience in 2018. This is something with no evidence and just some mere speculations. The price will likely go up again after this fallback. I think this is the best time for some people who have to wait for the right time to invest. Just wait for guys, the price will likely recover after this so don't mind trying to invest some funds that you can afford to lose.

[oHnK]

Anyone is free to say their views on Bitcoin, but the reason Bitcoin has decreased in recent days is because of the price correction.  If the reason is due to Powell's comments or US policy, it may be influential but insignificant even if it is presented maybe only 1%.  And assets that are highly volatile, if it goes up and down is a natural thing.  It could be that tomorrow the price will be above 60k USD again.  Who knows, right?

[Distinctin]

1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

No matter what they do, we can absolutely expect this kind of market behavior forever. If ever this could somewhat give some impact to the price but this not giving a huge effect. All the dumps and pumps that we experience can be happening all the time and even without this so-called price manipulation, we can't simply ignore this possibility.

Maybe it was right that some people get off from crypto and jump to the stock market drives the demand to slow but we find it also that they will come back soon and hype the market again. This gonna be the life cycle of crypto and any form of investment, and there is now way to change it.

[Argoo]

Does a 10% pullback count as price drop these days? Really?

We reached a new ATH not even 2 weeks ago. The price is "dropping" because that's what markets do every now and then, there's not much else to it.

I did not even think of the current decline in prices in the cryptocurrency market to be regarded as a fall, which causes alarm for someone. Throughout the day, I even see the price of bitcoin rising by almost a thousand dollars. This is a common correction and will happen over and over again periodically. It would not be very nice to see the price of bitcoin drop to $ 40,000, or even $ 30,000. However, this can still happen and it will also be almost normal for Bitcoin.

[pixie85]

can the price go down to 40k?

It can, but will it? Probably not since we had a new ATH. A pullback after a new high is a normal thing as long as it doesn't become a 50%.

Will we still be in a bull market if we drop to 40 thousand?
Yes we will because the bull market support is somewhere around 38 thousand. 40 is still a bull market.

[BrewMaster]

1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

a lot of random people are making statements about bitcoin. that doesn't mean they should affect bitcoin price at all.

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

this actually attracts some additional investment into bitcoin since fiat is a failing asset but bitcoin keeps rising (deflation versus inflation).

you are forgetting that there wasn't any major price drops but a small correction which isn't really that surprising and it doesn't need any reasons such as these.

[batang_bitcoin]

can the price go down to 40k?

Yes. The chances are there and that's what volatility can do to bitcoin. If the price can go down as much as $40k or even lower than that, we have a good news that bitcoin can also go as high as what we can imagine or more than $100k.

Will we still be in a bull market if we drop to 40 thousand?
Yes we will because the bull market support is somewhere around 38 thousand. 40 is still a bull market.

I also consider that even if bitcoin drops to $40k, that's still far from the past months prices.

[LUCKMCFLY]

In this article you can see 3 reasons why it could have occurred:

In this article you can see 3 reasons why it could have occurred:

The three-month futures usually trade with a 10% to 20% versus regular spot exchanges to justify locking the funds instead of immediately cashing out. Whenever this indicator fades or turns negative, known as "backwardation, it indicates that the market is bearish.

Source: https://cointelegraph.com/news/3-reasons-why-btc-will-unlikely-trade-below-50-000-in-the-near-term

Of course, now when this kind of eventualities occur, there is always a potential news or reason that is identified, but it is a matter of waiting and seeing how it continues to develop at this time, perhaps this is a pull back and the price reaches a few $ 60k, it's all in the possibilities.

[Fatunad]

In this article you can see 3 reasons why it could have occurred:

In this article you can see 3 reasons why it could have occurred:

Of course, now when this kind of eventualities occur, there is always a potential news or reason that is identified, but it is a matter of waiting and seeing how it continues to develop at this time, perhaps this is a pull back and the price reaches a few $ 60k, it's all in the possibilities.

These are common scenarios and still surprised that people still having those kind of questions in mind about these price drops.Its neither it is caused by news or events or just basically a selling point
or time which is currently happening at the moment.Come to think that we havent dipped yet on -$1000 which i do see this as a typical price decline not really those kind of severe -30%-40% in a
day where you can really have those questions in mind but arent these situations common? People shouldnt really get used to be surprised like this because its always been part of the market
to have this kind of volatility.

On the recent drop i had accumulated with this current price point which i can say that this is a solid support which would be hardly be break out but still unsure because the next support
would be on $47k.

[adaseb]

Yes it seems there is tons of worry about there just because BTC went from $62K to $50K, that is only considered a 20% drop and people are panicking. And this leads me to believe 2 things

Most likely they bought near the top at $60K, I think when they saw $58.4K break, they assumed it would go to at least $65K and are stuck holding a bag. And another reason is that many people here are trading on high leverage using margin and future exchanges.

In the last 24 hours there was $2.4Billion dollars worth of long liqudiations which is a crazy amount since BTC didn't really have that much of a drop. Since we lost this much OI, it means that people were longing the top on high leverage.

[aoluain]

Futures trades for March end tomorrow. From the chart below we can see
that about $50 was the target so a lot of traders needed the price to drop
in order for their trades to activate.

Source > https://app.laevitas.ch/dashboard/btc/deribit/options/activity