Markets taking profit

[GeorgeJohn]

While there may be some profit taking, it appears that the drop was caused by the conjunction of three factors, the hashrate drop by China, a tweet saying that the US Treasury department was going to charge some banks with laundering money with cryptocurrencies and a few over leveraged longs blowing up as a consequence.

I understand what you say about looking at the big picture and not getting demoralized as some are doing and I share it, but on the other hand, when talking about the returns obtained since the beginning of the covid, like Saylor and many others do, I think they are kind of cheating, because the logical thing would be to start counting from before the fall. That is, if you count the return of the S&P 500, do not do it from the bottom of March 20, but from January.

Your right the drop of bitcoin is caused by conjunction and negative side of information concerning cryptocurrencies people portray, but really I think the major concept that contributes immensely to drop of bitcoin is because of the supply is higher than the demands of bitcoin in bitcoin market cap, so therefore it contributes for drop of bitcoin, so another option that made bitcoin drop is fake information obtain that politician's in US is using bitcoin for embezzlement of fund's and anyone using bitcoin will be trace, I believe that this information is the major source of decrements of bitcoin.

[Argoo]

A movement such as this is a consequence and it may still be followed by more falls without meaning anything other than a profit taking and some caution around the ATHs.

So anyone who is about to reap their profits then do as soon as you can because as said the price may fall as correction or certain bearish trend may begin. Long term holders keep HODLING!

Surely we are going to see huge price tag for BTC in few years so worth to take the risk.

It would be wise to partially convert bitcoin to stablecoin, but not now that bitcoin is now below $ 54,000. It will probably still rise more than $ 60,000 and this will be a chance to partially fix his profit. In summer, the market may decline until autumn and this will be a good opportunity to buy again.
I keep a significant part of the cryptocurrency in ethereum. I transferred a very small amount to USDT, as I hope for the rapid growth of this coin after July, and even more so from the fall.

[TastyChillySauce00]

Bitcoin or stocks have grown rapidly and continuously over the past year. A part of investors taking profits is understandable because they already own assets at good prices.
Their profit-taking can be a signal of a market decline or just a price correction for the whole market. I don't act as soon as the market's value falls on the first day. It takes time to observe the entire market to enter an order. This experience will help us avoid early action and big losses.

It seems these big investors are already happy enough with some 1 digit percent profit, though I'm sure their sell off are just some part of it but they are taking the profit maybe because with that they can somewhat fix the economy of their company even further after pandemic.
But it's not necessarily a signal for market decline, the demand is still there and cryptocurrencies right now got massive publication more than ever before. There's certainly possibility that the market could decline but seeing with all the things offered within crypto space like decentralized finance, etc I think it's not gonna decline that much or instead keep going up.

[lienfaye]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

Indeed. A current market situation is not really unusual if we were going to track the past history. But some of us are looking for a specific reason on why moving downward is happening on the market.

I think as a long term hodler the best part of it is not minding the current situation since I have a set goal on when to take profit.

Its better to go with the flow than stressing yourself on the movement of your coins if you didnt expect such situation to happen.

[Commie]

I transferred a very small amount to USDT, as I hope for the rapid growth of this coin after July, and even more so from the fall.

Excuse me, but what exactly are you expecting USDT to grow against? Sure not USD, but then what?

[ashmodeus]

in my perspective , since bitcoin , or maybe another major altcoins has going public , i mean big player such as banker or private investment company has take a part of bitcoin, any economic news or financial incidents can be a sentiment for bitcoin and altcoin prices, so for me, its not only about Market taking profit, for example, about lately hashrate drop , of course based on theory, when hashrate down, bitcoin price going down for sure.

[Zanab247]

There is still opportunity to be part of this great profit that is still on going in the market, if only you can still hold your coins and watch the market very well. Despite the price of bitcoin dropped few days ago does not mean it will continue decreasing in this season. According to some researchers, bitcoin will hit $80k soon before it can allow any altcoin to over the first position in the cryptocurrencies.

[ilovealtcoins]

Bitcoin or stocks have grown rapidly and continuously over the past year. A part of investors taking profits is understandable because they already own assets at good prices.
Their profit-taking can be a signal of a market decline or just a price correction for the whole market. I don't act as soon as the market's value falls on the first day. It takes time to observe the entire market to enter an order. This experience will help us avoid early action and big losses.

It seems these big investors are already happy enough with some 1 digit percent profit, though I'm sure their sell off are just some part of it but they are taking the profit maybe because with that they can somewhat fix the economy of their company even further after pandemic.
But it's not necessarily a signal for market decline, the demand is still there and cryptocurrencies right now got massive publication more than ever before. There's certainly possibility that the market could decline but seeing with all the things offered within crypto space like decentralized finance, etc I think it's not gonna decline that much or instead keep going up.

Cash flow is flowing into cryptocurrencies through price drops. Tether has printed a lot of USDT and investment funds have confirmed their investment. Also, the adoption of cryptocurrencies by Visa, PayPal and banks' money transfer services is a favorable condition for the cryptocurrency market to expand.
Even though the news is clear, we cannot take crypto charts lightly. It is relatively accurate data and we need to pay attention to have a reasonable investment strategy.

[BITCOIN4X]

There is still opportunity to be part of this great profit that is still on going in the market, if only you can still hold your coins and watch the market very well. Despite the price of bitcoin dropped few days ago does not mean it will continue decreasing in this season. According to some researchers, bitcoin will hit $80k soon before it can allow any altcoin to over the first position in the cryptocurrencies.

As long as the market is still fluctuating, opportunities are still open for anyone to make a profit.
If getting profit is a priority, then we don't have to trade just one asset. Some altcoin may still be good enough to serve as short-term trading destination. In this week, bitcoin has undergone a significant price correction, which is why I think if you are not a long-term investor then you should try to take temporary profits and make the most of it with other altcoin market fluctuation. Remember, you definitely need to have a good amount of knowledge and experience if you want to do this.

[tabas]

I transferred a very small amount to USDT, as I hope for the rapid growth of this coin after July, and even more so from the fall.

Excuse me, but what exactly are you expecting USDT to grow against? Sure not USD, but then what?

I think he's describing the event that will happen to Ethereum. As he has mentioned that he's keeping a part on Ethereum. Maybe he's keeping it in USDT this time and later, if the price gets lower.
That's the best time for him to buy some more ETH. As of this time, more profit takers are in the house, the market is dropping so bitcoin does and after Ethereum hit a new ATH, dropped a bit which is usual.

[tvplus006]

Cash flow is flowing into cryptocurrencies through price drops. Tether has printed a lot of USDT and investment funds have confirmed their investment. Also, the adoption of cryptocurrencies by Visa, PayPal and banks' money transfer services is a favorable condition for the cryptocurrency market to expand.
Even though the news is clear, we cannot take crypto charts lightly. It is relatively accurate data and we need to pay attention to have a reasonable investment strategy.

Now there are no objective reasons for a further decline in the price of bitcoin. When the price drops to 51-52 thousand dollars, traders start actively buying BTC, because this price is very attractive for investors. If you compare BTC with the stock market, you can see that the S&P 500 index shows a recoilless growth. I expect the same growth for bitcoin.

[Scripture]

There is still opportunity to be part of this great profit that is still on going in the market, if only you can still hold your coins and watch the market very well. Despite the price of bitcoin dropped few days ago does not mean it will continue decreasing in this season. According to some researchers, bitcoin will hit $80k soon before it can allow any altcoin to over the first position in the cryptocurrencies.

That’s just a speculation and the price trends tell the difference, if we still see the market will grow then keep holding but if you see the downside in the market and want to secure profit, then its better to sell now and take profit because you can always buy back if there’s a new opportunity. Don’t just hold, its good to take profit sometimes.

[kingkhan99]

A movement such as this is a consequence and it may still be followed by more falls without meaning anything other than a profit taking and some caution around the ATHs.
So anyone who is about to reap their profits then do as soon as you can because as said the price may fall as correction or certain bearish trend may begin. Long term holders keep HODLING!

Surely we are going to see huge price tag for BTC in few years so worth to take the risk.Now if we collect BTC, it will be seen in the future that the price of BTC will increase a lot in the market, and we see that most of the BTC market is being raised most of the expensive .

[oHnK]

Cash flow is flowing into cryptocurrencies through price drops. Tether has printed a lot of USDT and investment funds have confirmed their investment. Also, the adoption of cryptocurrencies by Visa, PayPal and banks' money transfer services is a favorable condition for the cryptocurrency market to expand.
Even though the news is clear, we cannot take crypto charts lightly. It is relatively accurate data and we need to pay attention to have a reasonable investment strategy.

Now there are no objective reasons for a further decline in the price of bitcoin. When the price drops to 51-52 thousand dollars, traders start actively buying BTC, because this price is very attractive for investors. If you compare BTC with the stock market, you can see that the S&P 500 index shows a recoilless growth. I expect the same growth for bitcoin.

It seems that you still have a reason for the decline in BTC in the future, namely the panic attack by new players. The crypto trend is very hype lately because they only see profits that are gradual for quite a long time, but these new players don't realize the price can fall 30% and go up another 30% in just 24 hours. If panic fills him, even his fingers immediately tremor to press the sell button. Market has been bearish these days. You can see the history of existing transactions, many of which sell and after the price drops, many more buy until they go up again.

[FatFork]

My personal take is that I am not selling even if the correction is stepper than this, since my plan is hodl for years the better part of my crypto. I do not use leverage nor run unnecessary risks, so I can keep on with my original strategy even if big drops happen.

Traders are still buying the dip, and this is likely to continue for a while. I'm opening a new long position at $49,000. There's a good chance we'll go up from here. Those who shorted might be left out. Just my two cents...

[Dave1]

My personal take is that I am not selling even if the correction is stepper than this, since my plan is hodl for years the better part of my crypto. I do not use leverage nor run unnecessary risks, so I can keep on with my original strategy even if big drops happen.

Traders are still buying the dip, and this is likely to continue for a while. I'm opening a new long position at $49,000. There's a good chance we'll go up from here. Those who shorted might be left out. Just my two cents...

Of course, traders will take every opportunity to buy at the current decline at $49k price.

Yes, there are strong hands that are not going to sell because they have seen the worst. But there are holders who rather sell today and then buy back bitcoin at a cheap price. Everyone has it's own strategy that will fit them.

And for those who have sorted bitcoin in the last couple of days? good for them, but we are still in the bullish sentiments so they are still going to get rekt. So enjoy a couple of profits from this dip.

[Sterbens]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

It is a principle that has not changed at all for long-term holders, in fact most holders do not want to know about the current downturn, all they know is to observe the price when all the Bitcoin market has outgrown the price flow. be it next year or even a few years later. long-term holders will not be easily exposed to the current Bitcoin price.

[ilovealtcoins]

Cash flow is flowing into cryptocurrencies through price drops. Tether has printed a lot of USDT and investment funds have confirmed their investment. Also, the adoption of cryptocurrencies by Visa, PayPal and banks' money transfer services is a favorable condition for the cryptocurrency market to expand.
Even though the news is clear, we cannot take crypto charts lightly. It is relatively accurate data and we need to pay attention to have a reasonable investment strategy.

Now there are no objective reasons for a further decline in the price of bitcoin. When the price drops to 51-52 thousand dollars, traders start actively buying BTC, because this price is very attractive for investors. If you compare BTC with the stock market, you can see that the S&P 500 index shows a recoilless growth. I expect the same growth for bitcoin.

Cash flow poured into the market was stronger and sometimes withdrawn. What is important is that Bitcoin's scarcity is rapidly increasing. There are many Bitcoins withdrawn from exchanges, more Bitcoins lost in the past due to lost secret phrases, passwords, Bitcoin being entered into DEFI, CEFI. So discounts are not going to happen much more. I think those are flash dump attempts to buy as many cheap bitcoins as possible.
Another thing is that the crypto market capitalization is at a lower level compared to other markets so this is an opportunity for investors.

[Golftech]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

It is a principle that has not changed at all for long-term holders, in fact most holders do not want to know about the current downturn, all they know is to observe the price when all the Bitcoin market has outgrown the price flow. be it next year or even a few years later. long-term holders will not be easily exposed to the current Bitcoin price.

They are all prepared in this kind of situations, as they understand the value of holding.

Not being affected due to knowledge and skills that they already developed while taking

their position each time they choose any assets that they invest their money. It's all about

how you entrust your money with your own assessments and observations.

[wxa7115]

Anyone who cares what the price has done over a 1 week period has invested more than they should have. If it's so much of a concern, you're over exposed. Price movements over a daily, weekly, or even monthly period are meaningless over the long term.

You are correct but at the same time there is no doubt in my mind we are seeing some profit taking from smart investors, also it is possible they are seeing the performance of altcoins are giving and they do not want to be left behind.

After all we know that most of those invested in this market do not really believe in it for the long term, the only thing they care about is their own gain and if they see there is another subsection of the market offering more gains then it makes sense they sell their bitcoin and go chase altcoins.