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

[proudhon]

Bitcoin is collapsing because it has been mathematically proven to be a bad investment.

[Ridwan Fauzi]

I haven't heard if there is some bad information come for bitcoin so as although its price just dropped a lot since two days ago bitcoin still in the bull run market. But with one note the price can't fall below $43.000 because there is a strong support from that area.

Also the reason why bitcoin fall is technically there was a double top pattern at least its price movement has been touched $64000 are for three time so as the invesor will think that its price is a strong resistance.

[$crypto$]

I haven't heard if there is some bad information come for bitcoin so as although its price just dropped a lot since two days ago bitcoin still in the bull run market. But with one note the price can't fall below $43.000 because there is a strong support from that area.

Also the reason why bitcoin fall is technically there was a double top pattern at least its price movement has been touched $64000 are for three time so as the invesor will think that its price is a strong resistance.

About bad information, of course there must have been before I also saw some of the news, but indeed at that time the reaction was not so fast and only now bitcoin has experienced a deep enough decline. a lot of results.

This pattern will not take long, I think I can recover after seeing strong resistance and investors will fully believe it will be under control with several things, as for the top bubble which causes the price to turn red because there are several factors behind it, but don't panic, it's all just resistance.

[Yaunfitda]

I think for now we have seen the bottom of this correction, so I'm not expecting any more decline in the next 24 hours. So short term, yes we are on the decline, but long term, I think we can still achieved a $100k bull run.

So we should be good, unless there is another incoming dump and the next support level is going to be $45k then $42k. But as I have said, I don't see it happening, it seems that we have settled down a bit now.

[dunfida]

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.

No one can actually tell because if we do try to look back then no one did really anticipate this current news or sentiment that pops out in the market on that China miner's issue
on which it did really mainly affect the entire market and the price had corrected down at least 10% but doesnt mean that these price decrease does signify
it is already the end of it.For those who have been on this market for a while now then it isnt really something a surprising for these kind of events.
market tends to go down and make out recovery later on on a very unpredictable manner.

[LUCKMCFLY]

I would never say that it is the end of Bitcoin, I always base myself on the prediction model of PlanB, I believe a lot because it has expiration, also despite the great correction that the market has at this time it is essential to hold on to believe in Bitcoin, a correction of this type is normal, as stated by Peter Brandt, PlanB continues to believe that it can reach $288k, and that this 2021 is not the end of the bullis trend, some believe that for Bitcoin to be complete it must do something to reduce consumption electricity and the pollution it generates, at least that's what the president of Ripple thinks:

“I would argue that such a change is critically important for Bitcoin to remain the world’s dominant cryptocurrency. PoW’s current energy demands and carbon footprint are already unsustainably high, with Bitcoin alone consuming an average of 132 TWh a year (equivalent to roughly 12 million U.S. homes), and releasing an estimated 63 million tons of CO2 annually.”

Source: https://zycrypto.com/what-bitcoin-must-do-to-remain-the-crypto-top-dog-according-to-ripple-chairman/

Of course this is a personal opinion, but it may have something of relevance, however if something is done against this problem things will get much better.

[arabspaceship123]

It's going to take time to reach a new record high but it's not going to stop speculators talking about it. We've been hearing about crashes and dumps but Bitcoin still didn't end.

No matter what happens next I am already grateful about the price,
If it is the end of rally and start of bear market then let it be but if it is just getting ready for another storm then we should wait and see how strong the storm would be and how high it would push the price.

[molsewid]

No one can actually tell because if we do try to look back then no one did really anticipate this current news or sentiment that pops out in the market on that China miner's issue
on which it did really mainly affect the entire market and the price had corrected down at least 10% but doesnt mean that these price decrease does signify
it is already the end of it.For those who have been on this market for a while now then it isnt really something a surprising for these kind of events.
market tends to go down and make out recovery later on on a very unpredictable manner.

To be honest I felt a little frustration when I check the coin market cap and saw the bitcoins market price was below $50000 because I am believing that bitcoin market price will not going down at $50k its because of the continue rising of investors interested in bitcoin but then it happened that way, I knew in myself that crypto was volatile and unpredictable too at the same time. But now, bitcoin was still kicking and back to $50k+, so maybe not yet for the end of bull run of bitcoin.

[Anonylz]

Probably the struggle between miners and Chinese government is one of reason for the drop in price, right the miners and the Chinese government are at loggerheads and the government not willing to back down on their strictness towards miners, and then we have the Joe Biden new tax rate, everything is happening within this period and btc is fighting not to go way below, it is surprising how the price has manage to maintain a position, perhaps we still in the bull season.

[kodtycoon]

Even though the price has fallen hard but I think it is still uncertain, because what happened before was about the fall in price but in the near future it will be able to break the 60k line. The end of the season or not for sure the price of bitcoin and other cryptos will certainly continue to move, but one thing is for sure the price will not be forever high and low so if the price can stay in the 40k-50k range that's good enough.