A Sudden Price Drop in The Crypto Markets

[newwest]

It looks like this is the end of this year's bull run, even though the cryptocurrency market is slowly starting to decline, and it all started when Elon Musk tweeted a statement about Tesla's refusal to pay using bitcoin and this was followed by a ban on cryptocurrency transactions from China, hope this price drop isn't the end of the bull running season this year

Its just the bad timing of the both which fueled the greater fall and then we have panic sellers in the market which make the things more worst. But on other hand visionaries look for opportunities in such market, and price fall is what the best thing to buy more at lesser value also exist now.

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[mrquackquack]

As of this time the price of Bitcoin is around the 33-34k usd range. Will it drop to sub 30k or rebound to a higher price point?

[mrquackquack]

I thought Binance was going to delist XRP?

[add1ct3dd]

When I said this, everybody thought I am bearish but I just tried to warn everybody for the correction that was inevitable. It happened, and it happened just in a way I told my friends and also the community here. There are now more probabilities of btc getting dumped by retailers and also check the patience of institutions if they can handle the heat, or this correction will flush out another wave of weak hands and a new, more stronger bull run will begin.

The problem during bull runs is that they take us away from reality and we start thinking this time will never end just like how a winner feels when they win a bet in gambling without realizing that good times won't last forever. I was aware that this bad run will start soon but just even knowing that, I didn't sell my coins at the right time. I am sure another bull run will come soon though.

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 !

Yeah it's like everyone knows they won't earn from gambling yet everyone does it.

[shadow123]

Yes, sudden drops comes every time in the market ones it get high prices. If you buy crypto at high prices don't sell crypto at the sudden drops. Surely it will have a good time if you buy a good coin.

[TheNineClub]

A lot of people are for some reason shocked about the price drop, but those people forget or are just unaware that we had the same situations in previous cycles and the pattern in this one is more or less the same (this is the fourth cycle). Maybe we can take into consideration that this is not a small cycle but a megacycle and we are just climbing our way up, but it's hard to get behind that theory as evidence suggests otherwise. So in the end, it's just another cycle doing its thing. It's not Elon's fault, it's not the government's fault, it's not your fault, it's just the way it is.

[Fatunad]

Yes, sudden drops comes every time in the market ones it get high prices. If you buy crypto at high prices don't sell crypto at the sudden drops. Surely it will have a good time if you buy a good coin.

Easy to say but it would really be hard for those who had just recently jumped into this market on where dealing with volatile price isnt something easy that you can deal with if you dont have much experience on it.
Price drops are inevitable but majority been seeing this as a negative stuff without minding the opportunity that it gives where you can buy cheap but i cant really blame off that you would really hesitate on times
like these because we dont know on whats the actual bottom on this one this is one of the most common factor on why we do miss out opportunity on making profits
and for those who do took risk then they are the ones who are really making money.

[buietaw]

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.

The electricity spent for bitcoin has reached enormous sizes. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. Certainly, something must be done about this. But I don't think Elon is trying to find a solution for this problem.

Source :  https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume

[Twinkledoe]

Yes, sudden drops comes every time in the market ones it get high prices. If you buy crypto at high prices don't sell crypto at the sudden drops. Surely it will have a good time if you buy a good coin.

Easy to say but it would really be hard for those who had just recently jumped into this market on where dealing with volatile price isnt something easy that you can deal with if you dont have much experience on it.
Price drops are inevitable but majority been seeing this as a negative stuff without minding the opportunity that it gives where you can buy cheap but i cant really blame off that you would really hesitate on times
like these because we dont know on whats the actual bottom on this one this is one of the most common factor on why we do miss out opportunity on making profits
and for those who do took risk then they are the ones who are really making money.

This is why it is not advisable to jump on what is the current hype in the market if you are new. Just like with most meme coins, most of them are just crappy projects riding the hype of doge. I believe a lot of these buyers will be screwed from these meme coins. Crypto is a very volatile and very risky investment, they should have known that even before jumping on this train. And they should not blame the market if they lost on this market. If they can't wait, then, I guess, this market is not for them.

[cute nmp]

Many people will blame Elon musk for the entire bitcoin dip that took place even though him and China contributed to the downtrend the market was already in need of correction after the uptrend that occurs since last year I 'm just afraid to see btc break under twenty-eight thousand which typically will indicate a bear market.But if that did not happen then there is hope of going up again.

[Fredomago]

A lot of people are for some reason shocked about the price drop, but those people forget or are just unaware that we had the same situations in previous cycles and the pattern in this one is more or less the same (this is the fourth cycle).

If you analyze more deeper then you'll see that it's just repeating itself, if you don't want to lose you investment best not to do

anything or if you still have spare fund, you can buy more from this current market.

Maybe we can take into consideration that this is not a small cycle but a megacycle and we are just climbing our way up, but it's hard to get behind that theory as evidence suggests otherwise.

Everything is unpredictable, a lots of changes can happened along the way, but in the long run those who believes and continue to support
will able to maximize all the benefits from this investment venue.

So in the end, it's just another cycle doing its thing. It's not Elon's fault, it's not the government's fault, it's not your fault, it's just the way it is.

No one but the investor itself, he should take all the responsibilities while working with this market.

[Shasha80]

Many people will blame Elon musk for the entire bitcoin dip that took place even though him and China contributed to the downtrend the market was already in need of correction after the uptrend that occurs since last year I 'm just afraid to see btc break under twenty-eight thousand which typically will indicate a bear market.But if that did not happen then there is hope of going up again.

I agree with the opinion that the biggest contribution to the cause of the fall in crypto prices is Elon Musk and China, because both spread FUD which
makes many investors panic. But fortunately now the Bitcoin price and some altcoins are starting to recover, even Bitcoin made it back to $ 40k.
This is a sign that the bear market has yet to come, hopefully in the next few days the crypto market will get better. I really hope Bitcoin can return
to above $ 50k again, but it looks like it will be difficult to come true in the near future.

[mamahdedeh]

Many people will blame Elon musk for the entire bitcoin dip that took place even though him and China contributed to the downtrend the market was already in need of correction after the uptrend that occurs since last year I 'm just afraid to see btc break under twenty-eight thousand which typically will indicate a bear market.But if that did not happen then there is hope of going up again.

I agree with the opinion that the biggest contribution to the cause of the fall in crypto prices is Elon Musk and China, because both spread FUD which
makes many investors panic. But fortunately now the Bitcoin price and some altcoins are starting to recover, even Bitcoin made it back to $ 40k.
This is a sign that the bear market has yet to come, hopefully in the next few days the crypto market will get better. I really hope Bitcoin can return
to above $ 50k again, but it looks like it will be difficult to come true in the near future.

the statement of ellon and china had an influence on the decline of bitcoin. although currently prices are ranging, but I think we still have to be careful, because bull traps may occur, bitcoin prices may fall back down and break support at this time, but no one really knows what the market will expect in the future

[Shasha80]

Many people will blame Elon musk for the entire bitcoin dip that took place even though him and China contributed to the downtrend the market was already in need of correction after the uptrend that occurs since last year I 'm just afraid to see btc break under twenty-eight thousand which typically will indicate a bear market.But if that did not happen then there is hope of going up again.

I agree with the opinion that the biggest contribution to the cause of the fall in crypto prices is Elon Musk and China, because both spread FUD which
makes many investors panic. But fortunately now the Bitcoin price and some altcoins are starting to recover, even Bitcoin made it back to $ 40k.
This is a sign that the bear market has yet to come, hopefully in the next few days the crypto market will get better. I really hope Bitcoin can return
to above $ 50k again, but it looks like it will be difficult to come true in the near future.

the statement of ellon and china had an influence on the decline of bitcoin. although currently prices are ranging, but I think we still have to be careful, because bull traps may occur, bitcoin prices may fall back down and break support at this time, but no one really knows what the market will expect in the future

If we look at the current Bitcoin price dropping back to the price of $ 36k, your fear of bull traps could happen. The market is really very difficult
to predict, I think after making it back to $ 40k, Bitcoin can continue going higher. It turned out that my guess was wrong, the Bitcoin price is
still decreasing again, if this happens we really have to be careful. Because there is a possibility that Bitcoin could suddenly drop even lower.

[buietaw]

I think we will enter an uptrend from the 30-32 k range for the last time. Later, as interest rate increases will come as a result of high inflation in the economies, money will flow to the general markets. And after, a long bear awaits us.

[dongyi17]

Elon musk is one of the suspect why the market is down, but this is for short time only many investor now learn how crypto work. They said after this dip price, Bitcoin and other crypto will rise again, we will see again green market if this is true.

[ultrloa]

Elon musk is one of the suspect why the market is down, but this is for short time only many investor now learn how crypto work. They said after this dip price, Bitcoin and other crypto will rise again, we will see again green market if this is true.

He start the fud but don't blame all to him there are series of fuds shared and seems those are coordinated attacks but now I believe the bear strike done as we can see some good articles are now rotating in the medias maybe thpse manipulator bought again at the dip so we need to be careful for the bull trap and always pay attention to the market if we already placed our position.

[newwest]

As of this time the price of Bitcoin is around the 33-34k usd range. Will it drop to sub 30k or rebound to a higher price point?

If we look at last 10 days, the prices of around 33k and the the rebound has generally happened and even crossed till 40k. So this give me cushion that prices can rebound well. So any fall like again btc is now at 35k gives me a chance to buy some and sell when it rises back as per my short term strategy. So I am happy with that as these momentum gives you money as well, if you are ready to invest in short period.

[Jating]

As of this time the price of Bitcoin is around the 33-34k usd range. Will it drop to sub 30k or rebound to a higher price point?

If we look at last 10 days, the prices of around 33k and the the rebound has generally happened and even crossed till 40k. So this give me cushion that prices can rebound well. So any fall like again btc is now at 35k gives me a chance to buy some and sell when it rises back as per my short term strategy. So I am happy with that as these momentum gives you money as well, if you are ready to invest in short period.

$40k is the big barrier, how many times then we attempt to break it and failed? I count 3x already.

I'm not saying that we are in a bearish cycle, but the price keeps on fluctuating around $30k-$39k and it might take some time before we finally see a break out run. Possible to break to sub $30k, but it's slim, we have a support like around $32k. So let the price fluctuates though, it's very volatile in the last weeks or so, we just need to take advantage of the current market conditions. It could send a signal that we should buy more.

[jaberwock]

The fall in prices in the cryptocurrency market will always be sudden, no matter how many people warn about it. Cryptocurrency has been growing in price for six months, many of its types have grown in price hundreds of times. A correction and a fall was obvious and inevitable.
The question now is how deep this fall will be and how quickly the market will recover. So far, I do not see any forecasts in this regard. Today we saw the first ray of hope. In the morning I saw the price of bitcoin $ 38,172, after a few hours its price rose to $ 39,595, and now it is $ 40,035. Is this a temporary spike in price or have we already passed the bottom of the fall?

The increases are sudden as well so I do not think that it is really that much of an important thing. The suddenness will always be there but the fact that some people do not realize how great it could be if you could calculate "how much" it is instead of "when" that would be the real thing. I have seen people selling as low as under 35k dollars for example, which already bounced back, so if you want to leave even leaving after the bounce would have been smarter decision whereas some people completely forgot to do that.

This is why I believe it is very important to focus on how much instead of when. Like let's say we are at 36k or so right now right? Do not try to guess when it will go up, just try to guess how much, if you can do that you can make profit, if it goes to 55k again, buy now and put a sell order at 55k and that way you can profit, doesn't matter when if you know how much.