A Sudden Price Drop in The Crypto Markets

[Ridwan Fauzi]

It is the hardest thing to do to make a statement that the bull run for this year is over. Because bitcoin price or even all crypto price movement are so volatile. You can judge that now the bull run market is over but in few time a head the coin price increasing drastically, so we have made a false statement for bull and bear market.

Ans yeah there is a worry thing that will come to all crypto user, if bull run for bitcoin is over then we will see a huge dump that will happen. Many people will see to the previous bull run where bitcoin just dropped a lot and I think the situation is not much different with the previous bull run. So, yeah just be carefull for thoss who still hold bitcoin, for thoss who have intention for long term investment you should make a daily analyst to avoid it.

[Silberman]

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".

I get what you are saying, but I wouldn't call a 13% drop small either though. The sudden crash was a result of Tesla and Musk, stopping Bitcoin payments for purchases, claiming that Bitcoin is hurting the environment due to mining operations. However, I don't see where you are coming from, claiming that a bigger market crash is on the way. Where's the source for that? I can't really understand what you want to say by mentioning that those "pumps" will start reversing when altcoiners run out of money.

Unfortunately the crash is getting bigger by the day and we may be headed towards the 40k level, it seems to me many people lost their leveraged trades and we are seeing an effect that we did not wanted, I really expect the free fall to stop because if it does not then panic is going to overtake the market and when that happens the price has a tendency to go down no matter what it happens, also this could create an incentive for new institutional investors to sell and we do not want that either.

[mrquackquack]

I know people don't probably want to hear this but I seriously don't think we are going to see the 64k-65k usd price point for bitcoin again anytime soon.

[Ludmilla_rose1995]

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.

Elon Musk can pump or dump bitcoin prices on his own when it suits his interests. It's no surprise that Telsa subsequently announced it was selling some bitcoins and causing the sell-off to become even more fierce. Tesla may have made the US $ 101 million from bitcoin sales in the first three months of this year.

[Henrobakkara]

I know people don't probably want to hear this but I seriously don't think we are going to see the 64k-65k usd price point for bitcoin again anytime soon.

May be but if Bitcoin is able to get back to or above $48-51K then it is likely that it will continue up to that target but as it is now that is going to be some hard Bulls work to get Bitcoin back up there from this current $43k+ position. 

[Ultegra134]

I know people don't probably want to hear this but I seriously don't think we are going to see the 64k-65k usd price point for bitcoin again anytime soon.

May be but if Bitcoin is able to get back to or above $48-51K then it is likely that it will continue up to that target but as it is now that is going to be some hard Bulls work to get Bitcoin back up there from this current $43k+ position. 

It actually recovered to $45.000 today, however, I also believe that returning to previous price levels will take a while. The whole incident with Tesla and Musk really took a hit on the market. It will recover though, I'm sure about that. My guess would be even before we enter June.

[conected]

I know people don't probably want to hear this but I seriously don't think we are going to see the 64k-65k usd price point for bitcoin again anytime soon.

May be but if Bitcoin is able to get back to or above $48-51K then it is likely that it will continue up to that target but as it is now that is going to be some hard Bulls work to get Bitcoin back up there from this current $43k+ position. 

It actually recovered to $45.000 today, however, I also believe that returning to previous price levels will take a while. The whole incident with Tesla and Musk really took a hit on the market. It will recover though, I'm sure about that. My guess would be even before we enter June.

- After reaching a few fundamental recovery levels, the price continues to dump with deeper lows, it's hard to believe that the crypto community is trying to sell more bitcoin at cheap prices, whether this will be a fundamental strategy or this will be a scattershot of profit taking and the end of a bullish season. The recent upheaval has caused a disconnect between the community and bitcoin, need some big hands in the market to be more active with bitcoin accumulation, for Elon Musk and Tesla to continue to influence, lots of other problems with bitcoin could happen

[mrquackquack]

Also not alot of people are pointing this out but the bitcoin dominance is well below the 40% mark. Should this be any cause for concern?

[justdimin]

I know people don't probably want to hear this but I seriously don't think we are going to see the 64k-65k usd price point for bitcoin again anytime soon.

May be but if Bitcoin is able to get back to or above $48-51K then it is likely that it will continue up to that target but as it is now that is going to be some hard Bulls work to get Bitcoin back up there from this current $43k+ position. 

Well, the thing about bitcoin is that the things we consider hard end up being very easy for it as well. I personally think that price going back above 60k was nearly impossible during the first time (a few months ago I suppose) when we dropped from 58k to 43k, that was a horrible fall and it stayed around 43-45 levels for a while as well, it was really not good at all. Then it broke over to 64k because that is bitcoin, it always does that.

I had the same thing during this period as well, when it bottomed at 50k I said it would be a miracle for it to go down even more because it already dropped and now it was at the recovery stage, and then BAM! something happened and its lower now. So, things that look very difficult to happen tend to be not that difficult all of a sudden, it is the crypto world and it has always been like that I do not know what to expect anymore.

[Ultegra134]

I know people don't probably want to hear this but I seriously don't think we are going to see the 64k-65k usd price point for bitcoin again anytime soon.

May be but if Bitcoin is able to get back to or above $48-51K then it is likely that it will continue up to that target but as it is now that is going to be some hard Bulls work to get Bitcoin back up there from this current $43k+ position. 

It actually recovered to $45.000 today, however, I also believe that returning to previous price levels will take a while. The whole incident with Tesla and Musk really took a hit on the market. It will recover though, I'm sure about that. My guess would be even before we enter June.

- After reaching a few fundamental recovery levels, the price continues to dump with deeper lows, it's hard to believe that the crypto community is trying to sell more bitcoin at cheap prices, whether this will be a fundamental strategy or this will be a scattershot of profit taking and the end of a bullish season. The recent upheaval has caused a disconnect between the community and bitcoin, need some big hands in the market to be more active with bitcoin accumulation, for Elon Musk and Tesla to continue to influence, lots of other problems with bitcoin could happen

Judging by the current situation, it has actually worsened since I made the previous post, I strongly believe that it might drop even further, reaching $40.000 in the next few days. I'm starting to believe that the recovery phase will be longer than I initially anticipated. Negative influence stemming from Musk and Tesla are still affecting. There is actually a larger background on the sellout which is currently happening. We've already seen how simple it is to manipulate the market, when you have money and power.

[The Sceptical Chymist]

Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come?

I'm sorry but it looks like you are in a panic mode, just relax, this is not a sign of worse things to come.

Eh, everybody seems to think like that--bitcoin drops a few thousand dollars in a couple of days and all of a sudden they're crying "bear market!!!".  But movements like that don't mean we're in a bear market at all.  The way I see it, bitcoin just had a big dip and it's way too early to start calling this a trend (which is what a bear market is).

I do agree that Elon Musk is responsible for all of this, though I don't agree that he's trolling anyone.  You might not like what he's been saying, but I don't think his intention was to crash the bitcoin market.  I don't know if he didn't think things though or what, but his comments about bitcoin not being "green" are just stupid.  He had to have known all along how bitcoin works and how much electricity the network consumes.  And it's not like dogecoin isn't a PoW coin itself.  It's all very strange.

[ahsanif]

if you have been here since 2017 maybe you already understand this condition. this is a cycle, when ATH has been reached after that there will be a tremendous drop. be prepared because this will happen in the near future !

many think like that, but famous people have a big influence on psychology, especially for those who are new to trading or just join in to follow the trend

[Xinarae*]

if you have been here since 2017 maybe you already understand this condition. this is a cycle, when ATH has been reached after that there will be a tremendous drop. be prepared because this will happen in the near future !

many think like that, but famous people have a big influence on psychology, especially for those who are new to trading or just join in to follow the trend

Even if the price drops in the future it will not go down as much as in 2017. If the market goes down for correction it will go up again the bull run is not over yet by looking at the trading signals traders can predict that the market will recover maybe going down for some bad news. If the risk is high for newcomers it is easy to get information by doing market research.

[awik p]

if you have been here since 2017 maybe you already understand this condition. this is a cycle, when ATH has been reached after that there will be a tremendous drop. be prepared because this will happen in the near future !

many think like that, but famous people have a big influence on psychology, especially for those who are new to trading or just join in to follow the trend

Even if the price drops in the future it will not go down as much as in 2017. If the market goes down for correction it will go up again the bull run is not over yet by looking at the trading signals traders can predict that the market will recover maybe going down for some bad news. If the risk is high for newcomers it is easy to get information by doing market research.

we all here believe that the future of bitcoin will be better than today. if we invest, then we must prepare psychologically for long-term hold, and if we are trading, then we have a lot of experience with taking advantage of price fluctuations to get a profit

[Midy]

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.

Recently the cryptocurrency market suddenly dropped due to one of the reasons because of Elon Musk who made a statement that his company no longer accepts payments using bitcoin, so that some investors and traders panic selling which makes the cryptocurrency market decline every day, and today I also see information that China has banned its citizens from making all transactions using cryptocurrency, I hope this is not the end of this year's bull run

[LogitechMouse]

I want myself to get panic because of what is happening right now but I still can't do it :|.
If you are hear at the start of 2018, that is even worse than what we are seeing right now. Price of Bitcoin at that time went from near $20,000 to around $3,000 in just a span of months.

Remember that we went from $10,000 to around $60,000 in just 8 months so what are you expecting?? The crypto market will just go up and up. Sudden price drops are inevitable since we can't predict the future but what we can only do is predict what might happen base on the price movements of the past.

Is this the end of the bull market? I don't think so. I want to think that it is the end already but it seems that there are still some bulls waiting for a specific price before they will enter.

[fulcare]

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.

Let's hope you are wrong! But what can we say now? This is a hefty drop in prices and I don't see the market recovering quickly. I think this will go for a while. So many profits have been taken and those who see their profits threatened may now still decide to sell. This is a tough turn around in the market, w'll see if this is going to be another so called crypto winter. 

[mark-o-polo]

no need to worry - i sold my assests today so i am sure everything will go up from now on 

[mrquackquack]

That's a relief. Everyone please thank Mark-o-Polo for helping to save the market.

[mark-o-polo]

I do my best!