Bitcoin is falling down. Is it the end for it?

[IndianCryptoStreetbets]

The last few months of solid growth have instilled confidence that Bitcoin is unstoppable. Each time Bitcoin updated its maximum and even managed to get close to the $60,000 mark. However, then its price fell sharply in a few days and for many investors it came as a shock… for some reason.

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

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[DarkDays]

The last few months of solid growth have instilled confidence that Bitcoin is unstoppable. Each time Bitcoin updated its maximum and even managed to get close to the $60,000 mark. However, then its price fell sharply in a few days and for many investors it came as a shock… for some reason.

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

Think about it. Has BTC done this before - YES. Has there been a strong recovery -YES.

With such a strong rally of reaching a new ATH, seeing a small drop is only natural.

The growth is still on the way, and for those who believe in BTC would think this is a good opportunity to jump in and buy.

The point is that what we see today is normal and it's likely a sign of a strong rally.

[Charles-Tim]

Day and swing traders are the ones now manipulating bitcoin price with $50000 support and $60000 resistance. The institutions are not coming in more for now, that is why the price is falling back and yet not growing. We can not say this is the end of the price increase because possibly more institutional whales and other whales can come into investing in bitcoin which can still push the price further above $60000. But, bitcoin is deflationary in design, over a long period of price fluctuations, the price will still have a net increase.

[headingnorth]

I don't think so. The tweet that seems to have sparked the large drop has not been verified and the miners are coming back online. Bitcoin appears to be recovering nicely so far.

[Review Master]

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

First of all, it's clearly no. From the beginning of 2021, we can see that btc took 20%-25% correction each and every month whether it's done at the starting of a month or ending. And this time, samething is happening before taking a bullish rally for $66k or $70k. Lets just wait for the sideways movement of btc, than enjoy the bullish rally.

[willoweb]

How could this be the end of Bitcoin? Its price reached an all-time high - one of the major investors decided to take profit and did it on one day, which led to some panic. But this is definitely not the end or even a collapse. Simple market correction. Look at the bitcoin price at the beginning of a year or two years ago and it will immediately become clear that this is a normal correction. Yes, it can be a reversal in the direction of a bearish trend, but it can also be great money! Do not despair!

[jesselui]

The whales only paid for the inexperienced. Panicked and selling friends lost their money, the rich got richer. These kinds of falls happen, which is always important, and there is no fall as a result of bad news.

[seoincorporation]

The drop was imminent, it was about time for it to happen. And I wouldn't say this was the true drop, it's possible to see it going down to $30k or more. So, let's keep an eye on it because crazy times could come.

As I always say... What we know it bitcoin will move, up or down, but it will move, what really would be weird is to see it stuck on a price.

[AmoreJaz]

How could this be the end of Bitcoin? Its price reached an all-time high - one of the major investors decided to take profit and did it on one day, which led to some panic. But this is definitely not the end or even a collapse. Simple market correction. Look at the bitcoin price at the beginning of a year or two years ago and it will immediately become clear that this is a normal correction. Yes, it can be a reversal in the direction of a bearish trend, but it can also be great money! Do not despair!

i have to agree here. just a normal correction. because it is not normal that we will only see upward trend forever, at one point, it will drop. but look at the drop. it doesn't even fall below 50k. it means, btc has very strong support at this level.
with so many financial institutions that are now into this game not including merchants, i dont think we will see a massive correction here. even with this drop, we haven't seen this price in the previous years. we only have seen the 50k range this year. so what are we complaining here and thinking bitcoin has already ended its rally? 

[bitbunnny]

It's definitely not the end. Maybe at the moment we are experiencing sone corrections and in fact I expected to come even sooner but in any case we can't talk about end in any sense.
Bitcoin still holds very high price, it attracted more investors than any time before and this we might call one of the most progressive times for Bitcoin. But volatility is something that is natural for Bitcoin and something that any person involved with Bitcoin must be aware of, without panicking every time when Bitcoin price falls.

[tinopener]

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

I think the approval of a US ETF will buoy the price again this year.

However, I think FUD over environmental/electricity issues will resume next year when covid dies down, and Bitcoin will crash properly.

That's going to be the time to buy more, and then wait for Bitcoin to sort out the mining carbon emission problems.

Once the energy aspect is sorted out, the sky's the limit.

[hatshepsut93]

The last few months of solid growth have instilled confidence that Bitcoin is unstoppable. Each time Bitcoin updated its maximum and even managed to get close to the $60,000 mark. However, then its price fell sharply in a few days and for many investors it came as a shock… for some reason.

If you think that Bitcoin will go in one smooth line to $300,000, then you are sorely mistaken, bull runs always had corrections, it's a normal process - someone takes profits and the price crashes, but as long as there's more money willing to invest, the price will go up.

At some point there indeed will be a true crash, assuming that this bull run will be the same as the previous ones, but you can't tell that this is it just by one day of data.

[jahepahit]

this is an unexpected dip due to some certain news that circulated yesterday, the market is gaining back its uptrend momentum and i hope it continues as such. there is no end for bitcoin, we can only see some downtrends and its normal in trading. its better to always prepare for it.

[blockman]

I can remember one the same scenario when it has dropped a lot to $40k after reaching $50k and we're just on that the same spot but this time, it's just higher.
I don't think that we're at the end of the rally. This correction might be the another triggering factor for bitcoin to reach the next stop which is $70k.

[Fortify]

The drop was imminent, it was about time for it to happen. And I wouldn't say this was the true drop, it's possible to see it going down to $30k or more. So, let's keep an eye on it because crazy times could come.

As I always say... What we know it bitcoin will move, up or down, but it will move, what really would be weird is to see it stuck on a price.

Yeah, a 10-15% down move is quite mild, considering it went upwards from about $20k to $60k within a few months. If the news that the US government might be taking action against banks who allowed money laundering via Bitcoin transaction is true, it could be a very volatile time ahead. Especially as there is a tendency to enforce laws globally and they control accessibility to the US Dollar. Depending on the scale of the action, maybe new laws affecting cryptocurrency will be created and financial institutions might start avoiding business with these sort of customers. The only way for institutions to avoid such legal issues is a structure like Paypal, where all Bitcoin is kept within their ecosystem and no external transfers are allowed. This might slightly defeat the purpose of it for some buyers who like the anonymity. It's a good time to take some profits out if you're sitting on a lot of gains from months ago, at least until we see if any of these investigations materialize.

[ReiMomo]

Because there's no unlimited growth of bitcoin price, after a bull trend there should always be a correction on the price. This was already done by bitcoin price so many times, there's a resistance, and there a correction. Expectedly that there's a huge drop because we recently achieved the price ATH and it will I guess refueling again and it back to pump the price possible by next month.

There's nothing to worry about here if you really know how the bitcoin price will move, and this correction now is very normal and it doesn't mean the rally was ended. Just keep holding and never do panic at all time.

[Rana590]

After every big pump, price goes down and it is normal thing. It is not true that price will be growing all the time. It is a small correction I think. I hope within some days, price will be starting to rise again and hit new record.

[Theb]

Well it is a nice wake up call for them that Bitcoin is not intended to go in only one direction. For people who were shocked that Bitcoin has dropped in price this should serve that being over confident about Bitcoin might give them serious losses. As for Bitcoin's rally being over I don't think we can speak about it with any assurances as we haven't really seen Bitcoin testing any major supports lately and its drop from $64,000 to $55,000 is something that is still part of its consolidating levels so we don't know for sure if Bitcoin will go up or down from this price point.

[BITCOIN4X]

It is impossible to expect bitcoin price to rise without correction. We have seen this cycle occur before and it looks like the market will recover in some time. I don't know if this drop is a sign that the price of bitcoin is going higher than before and we really can't be sure. We hope a hike in price to occur after this, but we have to stay alert for other negative news to come.

[Oasisman]

Of course this ain't the end yet. Whatever goes up, must go down. So, this is just another sharp correction or It could lead into a bear market. Nobody knows, but sure this isn't the end for Bitcoin.
We have seen Bitcoin growth almost 4 times since early in the 4th quarter in 2020. That has been a long 5 months of rally with such a huge increase.
$50,000 is a strong support. If Bitcoin won't go below that level, we aren't going to enter the bear market yet.