A Sudden Price Drop in The Crypto Markets

[mrquackquack]

Given the state of all that is going on, is it a feasible idea to think that we may see a sub 45k price point for bitcoin?

[tabas]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter?

If this is the end of the bull run then I'd say that it's still a good start for a bear market then but I don't think that it's already the bear market. There will be more drops if we're really thinking that we're now entering into a bear market.

What could possibly be next? Any comments and thoughts are more than welcome.

Next is that keep observing the market or if you don't want to, buy.

[Imran232]

Its all thing happen because of marker manipulation and the manipulator are 2 person 1 is Elon mask who distory the bitcoin and because of bitcoin distroy the whole markets cap gose down. As a result full market distroy. And another person is The ethereum creator vitalik who has removed 13000 ethereum from a biggest meme coin Shib as a liquidity and then donate $1B+ to indian covid relief fund. His intension is good and reason is great but because of the liquidity removed the whole meme market crush and we saw the crush sceneray. Its my opinion others can defind it in different way thank you.

[Argoo]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

You can blame Elon Musk for trolling the entire crypto community and the whole market for the sudden crash. He announced that Tesla will no longer accept Bitcoin payments because according to Musk, cryptocurrencies are hurting the environment. Moreover, environmentalists were claiming that Bitcoin mining was taking a large toll on electricity, which is solely based on fossil fuels, especially coal, and were against Tesla's option to receive Bitcoin payments.

What an irony, the large scale of battery production isn't that environmentally friendly either, but no one is commenting on that.

This is indeed the case. It seems that this time Elon Musk provoked a general decline in the cryptocurrency market with this statement. Usually, such negative news affects the market for several days, after which the cryptocurrency recovers in price. Prices are already starting to rise, but there is great volatility. I see that even the price of some tokens is jumping like crazy. I think that soon everything will return to normal and the market will continue to grow.

[cute nmp]

Just woke up this morning and saw that bitcoin price drop down to around fourty-five thousand.It  is an alarming thing to see a sudden downtrend just because of Elon Musk announcement that Tesla will no longer be accepting Bitcoin because of the effects of mining to the environment.The good news is that we are still in a bull market don't think this news is enough to pull us back into the bear market as prices seems to be rising now.

[Twentyonepaylots]

It's slowly recovering and is now at almost 50k once again. The Tesla news definitely caused a lot of uproar and disappointment from some of us. Although contrary to what most of the guys here suppose, I don't think Elon is trolling or memeing this time. He knew the detriments that bitcoin could cause to the environment, especially given the fact that most of us still get their internet and electricity from the burning of fossil/unrenewable fuels, which is directly opposite of what he wants.

[Ultegra134]

It's slowly recovering and is now at almost 50k once again. The Tesla news definitely caused a lot of uproar and disappointment from some of us. Although contrary to what most of the guys here suppose, I don't think Elon is trolling or memeing this time. He knew the detriments that bitcoin could cause to the environment, especially given the fact that most of us still get their internet and electricity from the burning of fossil/unrenewable fuels, which is directly opposite of what he wants.

I highly doubt it that this is the case here, Musk is known for having a real influence on the market, looking at Dogecoin is enough to set the example. He already knew that before getting involved in Bitcoin, the environment issue is just an excuse to further manipulate prices, since his status is sufficient to have a massive effect.

[AndySt]

It's slowly recovering and is now at almost 50k once again. The Tesla news definitely caused a lot of uproar and disappointment from some of us. Although contrary to what most of the guys here suppose, I don't think Elon is trolling or memeing this time. He knew the detriments that bitcoin could cause to the environment, especially given the fact that most of us still get their internet and electricity from the burning of fossil/unrenewable fuels, which is directly opposite of what he wants.

Just the words and actions of Elon Musk lay on fertile ground, overlaid with the news from the stock market. The market is a bit overheated, especially with the sharp bullish rise of alternative cryptocurrencies, so any reason can serve as a trigger that can trigger a correction and force players to lock in profits. I am not so pessimistic about the market prospects for the year, but I would not be surprised if in the coming summer months we will be in a sideways trend or in some correction, because it is not for nothing that there is an old stock exchange rule that in May you need to sell.

[adzino]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

The bull run already ended before the crash. The price of bitcoin was somewhat stable. The sudden drop is because of the recent announcement by tesla. That was a shit move by Tesla and Musk, but you can't blame them for the crash. They are party responsible, but then people are more responsible for the crash. When tesla announced that they won't be accepting bitcoin, probably everyone started to panic. Some people maybe thought that Tesla will sell the bitcoins that they were holding and cause the market to collapse. And then there is this fear of the regulators.

[TastyChillySauce00]

I don't really think this time around the bearish gonna be like 2017 though but it is definitely possible, as to the question, I don't think the bullrun is also over either. Take it simply, many company still trying to make an entry to crypto, every week there's a brand new news coming out regarding some company making an investment not to mention the defis that's so used it burdens ETH's network as well, that also could affect bitcoin market. if any it's probably down -25% of current ATH in my opinion.

Given the state of all that is going on, is it a feasible idea to think that we may see a sub 45k price point for bitcoin?

Depends on many factor, sub 45K definitely possible but the market is solid enough to make people buy around the dip, some people definitely gonna find the dip as an opportunity to buy because with institutional investor also holding big bag of bitcoin most of people gonna feel more secured I guess.

[Vishnu.Reang]

What doesn't kill you makes you stronger. Bitcoin is in such a strong position now, thanks to its strong resistance when powerful people tried to destroy it. Elon Musk is not the first billionaire who tried to destroy Bitcoin and he will not be the last one. But the earlier ones realized that it is impossible to destroy Bitcoin, since it doesn't exist in the physical form. The decentralized nature of Bitcoin means that you can't destroy Bitcoin by taking down a central server or organization. And now Elon Musk will be taught a lesson which he will never forget in his life.

[Obito]

It's slowly recovering and is now at almost 50k once again. The Tesla news definitely caused a lot of uproar and disappointment from some of us. Although contrary to what most of the guys here suppose, I don't think Elon is trolling or memeing this time. He knew the detriments that bitcoin could cause to the environment, especially given the fact that most of us still get their internet and electricity from the burning of fossil/unrenewable fuels, which is directly opposite of what he wants.

As it should be, I expected it to recover since the news was just an exaggerated reaction of many people as if bitcoin is forever gone when Tesla suspended their bitcoin option for payment. People find his excuse a bit flimsy so they are irrationally mad at him like Elon took something from them so they have to be mad at him on the Internet as if Elon is going to consider your emotions, did you expect a businessman is your friend?

[mrquackquack]

Well if thats the case he might revert to exploiting dogecoin for his future spacex programs which in turn might pump up the price. I think one of his "friends" mark cubano is already starting to accept dogecoin for his dallas mavericks team.

[sapnu]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

The price drop that occured is definitely correlated to Elon Musk's removing of bitcoin as a mode of payment in Tesla. He has a huge influence to investors considering that he is a billionaire that's why the price of bitcoin was hardly affected by his decision. He is currently supporting dogecoin and no one knows yet what is his plan with it. So far, bitcoin's price has finally recovered and at almost $50k once again. Bitcoin is a strong currency that's why we should never give up on whenever it experiences a struggle, just like what it always does, it will soon recover and exceed more ATH in the future.

[SquallLeonhart]

The price drop that occured is definitely correlated to Elon Musk's removing of bitcoin as a mode of payment in Tesla. He has a huge influence to investors considering that he is a billionaire that's why the price of bitcoin was hardly affected by his decision. He is currently supporting dogecoin and no one knows yet what is his plan with it. So far, bitcoin's price has finally recovered and at almost $50k once again. Bitcoin is a strong currency that's why we should never give up on whenever it experiences a struggle, just like what it always does, it will soon recover and exceed more ATH in the future.

That drop was something special. I mean I am not saying that drops are good, but I feel like people ended up buying because of tesla news and sold because of tesla news and that increase back in the day was now negated by the decrease today. It is not really that bad, we are still at 50k+ right now and that is cool, corrections are a big part of bitcoin these days, we dropped from 64k to under 50k very recently and still managed to go over 58k after that, now we are down to 50k again but I am sure we will have a moment where we will move beyond 60k once again.

These types of falls are only hurting two people; first is the person who has a long futures with a high leverage (well even low leverage because of how much it dropped) their position will be liquidated for sure, and secondly people who panic sell and get out thinking it will crash, when in fact it recovers. Nobody else gets hurt from corrections.

[Anonylz]

Every drop gives an opportunity to buy the dip, if we are not give a count to all the drop btc has made since the last decade, the list will go on and throughout all this drop btc has always find a way to come back strong, we should be patient for the market because it always recover eventually.

[hannahB4]

This is a little correction for bitcoin and I could this time will pass away in the history of Bitcoin but with investors coming for it in a bad way I just hope the dip will not stay too long for correction to take place. We will continue to hold till we see the moon.

[Silberman]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

It is too soon to say the bull run is over, the price is too close to the all time high and it has remained at those levels for too long for the current all time high to be the highest point we are going to reach, the market is just gathering strength, now it is going to be more difficult for bitcoin to grow up with all of those altcoins receiving a lot of attention, but eventually enough interest n bitcoin will raise again and we will see bitcoin producing new all time highs in no time at all.

[mojun7982]

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

You can blame Elon Musk for trolling the entire crypto community and the whole market for the sudden crash. He announced that Tesla will no longer accept Bitcoin payments because according to Musk, cryptocurrencies are hurting the environment. Moreover, environmentalists were claiming that Bitcoin mining was taking a large toll on electricity, which is solely based on fossil fuels, especially coal, and were against Tesla's option to receive Bitcoin payments.

What an irony, the large scale of battery production isn't that environmentally friendly either, but no one is commenting on that.

This is indeed the case. It seems that this time Elon Musk provoked a general decline in the cryptocurrency market with this statement. Usually, such negative news affects the market for several days, after which the cryptocurrency recovers in price. Prices are already starting to rise, but there is great volatility. I see that even the price of some tokens is jumping like crazy. I think that soon everything will return to normal and the market will continue to grow.

It is time for the market to mature then because it should not be possible for a single person to move the whole market like that.Good to se it is on its way to full recovery. Hopefully we will have some new all time highs with a lot of excitement.

[BrewMaster]

this is not the sudden big drop in the crypto market yet. the massive dump is yet to come. we are just seeing a small drop in bitcoin price because of the recent FUD which obviously led to a lot of bloodshed in the altcoin market like it always does.
the biggest dump is going to start when the altcoin pumpers run out of money and start reversing their pumps then you see the real "sudden drops".