Bear Market started - 16 May 2021

[cryptozanga]

And yes, it finally started, from now Bitcoin will start going down, it will not be as 2018 but we will see a downtrend in the next 3 months, if you already made money is time to sell.

[cabron]

Zooming out will actually make you see how the candles form the bear market I think when we see an oversold on the weekly chart, we may be seeing how much it will full speed upward. I could be wrong about this. But when there is just a problem worldwide like covid and war are brewing, there is nowhere else to go to secure your money.  It will continue to surge probably in the mid-June.

[Zoe Saldana]

And yes, it finally started, from now Bitcoin will start going down, it will not be as 2018 but we will see a downtrend in the next 3 months, if you already made money is time to sell.

You can't use weekend numbers.  This week will be telling.  Don't be surprised by a big up Monday.

[AniviaBtc]

It is really sad to see that we are now approaching a bearish market, there are a lot of opportunity that become wasted.

We just need to be patient enough so that we can prevent more loses so it is a must to observe the market and wait.

We will surely see a bullish market starting from September up to next year we just need to wait for it.

[pooya87]

I still hesitate to call this panic sell the start of bear market but I still definitely wait to see where the bottom is before starting to buy cheap bitcoins. Even if it ends up being a bear market I seriously doubt it would last 3 months, there is simply no reason for the current downtrend except panic selling and those don't last that long.
This is most probably the preparation for $100k in June alongside Taproot.

[adaseb]

I think you can say the bear market started if it goes to the $30k's area and doesn't bounce back up towards the high $40ks. Right now its only -35% pullback from ATH and most of this is due to the Elon musk tweets he is giving out projecting a bad image towards bitcoins environmental impact which we already knew about.

So in a few days I think this will all pass. Hopefully he stops tweeting all together and even stops with his Doge promotions. Because many bitcoin and eth people keep tweeting to him that Doge is a shitcoin and he is replying back saying bad things about bitcoin and other POW coins.

We will see if the $42K area holds which is strong support on the weekly.

[Kittygalore]

I still hesitate to call this panic sell the start of bear market but I still definitely wait to see where the bottom is before starting to buy cheap bitcoins. Even if it ends up being a bear market I seriously doubt it would last 3 months, there is simply no reason for the current downtrend except panic selling and those don't last that long.
This is most probably the preparation for $100k in June alongside Taproot.

This panic is the result of the overreaction of people regarding the Elon tweets, this is just an artificial thing that we could've prevented if people didn't go full retarded over a simple tweet. Just hodl and accumulate more bitcoin prices are lower.

[STT]

There was a false breakout condition at the top which was bearish enough for many to attempt a trade downwards but I dont think that makes it a bear market just yet.   The biggest point to the contrary is the rising 200 day average, the 50 day has only just started to level off into a decline still quite slight  this is not an especially negative or aggressively selling market just yet.

If anything these types of threads I take as quite bullish in a contrary way, I'll see if I can trade it as I cannot say the wider direction exactly but we will have plenty of up days still occurring even if we do meet the 200 day average nearer to 40k I dont take that as any negative.   A proper sell is more like 10k to 20k which is overly harsh and would be a surprise to quite a few, anything below 30k I have looked and concluded is a good buy and hold multi year/month which is not something I often attempt to do as I usually try to trade week to week.



Here is the price meeting a 12hr average, above this our target would be about 47k and Im told a daily close above 48k should light up bullish conditions for a fuller reversal in this sentiment sell off.   Near term a positive outlook makes more sense, perhaps do so with a stop loss but its a bit late to be negative.

[Kong Hey Pakboy]

How sure are you that we really are in the bear market and that we will be able to make money in 3 months, I am pretty sure that you have to have some sort of proof or analysis before someone can fully believe or at least consider your claim. If this is really the start then heed my advice and buy bitcoins little by little because it is at it's lowest.

[Lucius]

And yes, it finally started, from now Bitcoin will start going down, it will not be as 2018 but we will see a downtrend in the next 3 months, if you already made money is time to sell.

Very confident statement, but I'm not surprised considering when all your posts are read - you have been claiming from the beginning on the forum that BTC is a bubble, and that a big correction is only a matter of days - so when you already give advice, when to prepare to fill bags with cheap BTC? 

Is not the moment to buy, in my opinion we will see Bitcoin again between 10K and 20K.

You advised people not to buy in February this year, now you practically advise them to sell as soon as possible because according to your interpretation we are officially in the bear market. In the first case, you obviously made a mistake - I think you are on the right track to miss the whole target once again.

[YuginKadoya]

I am just seeing positive here, if the price would dip it is good to get on board and I really think it will be a slow crawl moving up because this is just the correction, I can not say the start of the bear market but lately, there are many negative things that are happening right now that is why the price is dipping again, I can not say that we have reached the floor but the current price is recovering now.

Right now I am seeing many new shitcoin holders that are panicking right now and they want to escape the fate of getting stuck on top and not letting themselves obtain this great chance.

[Viscore]

And despite the current momentum, people are still on the positive side and hope that it goes back high again. I supposed to think that first last week but to see that Bitcoin makes something surprising dumps, it actually shakes the market and might expect a terrible market breakout. Panic selling may have to start these days for expected and it finds no way to stop these people but to let them do it.

Anyway, whales are preparing their bag so we don't have to worry. But I'd never think that this could lead to a terrible scenario like what we have experienced after the 2017 Bullrun.

[dimonstration]

It is really sad to see that we are now approaching a bearish market, there are a lot of opportunity that become wasted.

We just need to be patient enough so that we can prevent more loses so it is a must to observe the market and wait.

We will surely see a bullish market starting from September up to next year we just need to wait for it.

It's not yet bearish like 2018 and I guess it will not be the same trend like it was before since there are alot of factors now present in crypto form personalities with influence involve, adoption and companies that are invested already in crypto, price may not fall too dip so we just need to stay calm and be updated especially if we are actively trading.

[proudhon]

It is really sad to see that we are now approaching a bearish market.

We're fully in a bearish market. We're not merely approaching one. It's also going to be the worst (and last).

We will surely see a bullish market starting from September up to next year we just need to wait for it.

You might see the price go from $12,000 to $20,000 later this year, before continuing to crash. I guess you could call that temporarily bullish, but overall bitcoin is done. It's time to move on to a crypto that can succeed, like Ripple.

[Lucius]

You might see the price go from $12,000 to $20,000 later this year, before continuing to crash. I guess you could call that temporarily bullish, but overall bitcoin is done. It's time to move on to a crypto that can succeed, like Ripple.

Your FUD stinks for years, but you try in vain - everything you wrote were the most common lies and deceptions. Shilling shitcoins is also against the rules, you have plenty of room for your trash in the Altcoins board.

1 bitcoin will absolutely never be worth $50k. $100k? LOL, no.

Once bitcoin drops below $2,000 again, it probably won't ever get back up above it ever again.

[JimboToronto]

It's time to move on to a crypto that can succeed, like Ripple.

Even better... invest in Ripple Labs Inc., the company that can create an unlimited supply of Ripple.

At least it's a real company with a real CEO, Brad Garlinghouse. If you can't trust him, who can you trust?

[rhomelmabini]

I've seen such threads before and might wanna see some more when there's FOMO in the market. I am not worried at all besides I'm fine with -40% -50% from the top and one more thing Bitcoin could make it 3x or more when it goes bullish again, buy the fucking dip around that percentage, not financial advice though and manage the risks.

[BitcoinBunny]

You might see the price go from $12,000 to $20,000 later this year, before continuing to crash. I guess you could call that temporarily bullish, but overall bitcoin is done. It's time to move on to a crypto that can succeed, like Ripple.

Your FUD stinks for years, but you try in vain - everything you wrote were the most common lies and deceptions. Shilling shitcoins is also against the rules, you have plenty of room for your trash in the Altcoins board.

1 bitcoin will absolutely never be worth $50k. $100k? LOL, no.

Once bitcoin drops below $2,000 again, it probably won't ever get back up above it ever again.

 

[BrewMaster]

the manipulation is strong with this time

they did it last year too. price dumped down hard from above $6k to $3k. it is more like dejavu that price went down from $60k and maybe go to $30k too.
the important thing to remember is not to forget about buying bitcoin cheap while you can otherwise next month when we are testing the $200k resistance you'll come back and complain about how "expensive" bitcoin has become.

[ipanks]

And yes, it finally started, from now Bitcoin will start going down, it will not be as 2018 but we will see a downtrend in the next 3 months, if you already made money is time to sell.

I will celebrate it by buying more bitcoin but I will buy it step by step because I think the price will vary to make me get bitcoin at any low price. Besides the downtrend, I think the price will still go up, but I will use it to buy back if the price goes down again. Maybe it is time that the buy low and sell high strategy can be used.