Red crypto market today

[MadeMen]

I sincerely don't know what could have led to this extent of reduction in the general prices of cryptocurrency in the market. I understand that the market is volatile and there is a huge possibility for market correction after the bull run. I'm still positive about the industry and personally believe that this phase would pass very soon.

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[Botnake]

I sincerely don't know what could have led to this extent of reduction in the general prices of cryptocurrency in the market. I understand that the market is volatile and there is a huge possibility for market correction after the bull run. I'm still positive about the industry and personally believe that this phase would pass very soon.

You don't have to worry about how low the price will dump, worry if you will not take the opportunity to buy the dip since it does not happen all the time. Of course, since bitcoin and the entire crypto has good potential, as the demand increase, the price will eventually rise again in the long run.

Just look at the trends and its price history, it dumps due to correction but once it recovers, it breaks its new ATH when in a  bull run period.

It's period because although it's quite short but it will last for months.

[hichamito37]

Correction is part of investment models, especially with the crypto market. It's very normal and you should get acquainted with them. We're in the bear market. You shouldn't sell at this time. Hold it, the market will rise again soon. Believe it, history always repeats itself.

[TWW]

Correction is part of investment models, especially with the crypto market. It's very normal and you should get acquainted with them. We're in the bear market. You shouldn't sell at this time. Hold it, the market will rise again soon. Believe it, history always repeats itself.

today we can see how the correction took place and quickly BTC made a good adjustment. and it was followed by altcoins. most assets have had a nice price fix. this is gradual and I think the next season is already planned for this year. but don't expect it to be bigger than the previous achievement. Pump and dump it will happen in recent times on the market until the end of this year. we can take advantage of it.

[pinoycash]

Correction is part of investment models, especially with the crypto market. It's very normal and you should get acquainted with them. We're in the bear market. You shouldn't sell at this time. Hold it, the market will rise again soon. Believe it, history always repeats itself.

Its not a correction its a normal trading course of bitcoin, Its been like that in the past few weeks, It goes down then it goes up. It will be like that for for some time until we enter a new phase of bull run or it will be another long years of bear market.

[jorjeIII]

A lot of investors think that fall of the market is a good time to buy tokens for the best and most profitable price. But nobody knows how long this fall will last. The most important thing is that the project will continue to develop even when market falls. Here is a development plan of PolkaSyndicate https://polkasyndicate.medium.com/polkasyndicate-development-plans-b45e1b824239

As practice shows, after the market falls, its growth comes, so it is very important to develop the project during the market fall, although it is quite difficult to do this, since the popularity of the market is falling.

To maintain the trust of users, you need to continue to develop the project even despite the market decline.

[ChaoChibai]

After publishing china governments Bitcoin ban news , than after bitcoin price strongly dumping 40k to 29k and all cryptocurrencies market showing its red signal. But now bitcoin again touched $32k which means bitcoin could again Chance to hit high price....

China created fud news in 2018 as well, it was after bitcoin hype in 2017 end. I believe bitcoin value will rising again in the future.
For now, i think some people want to create fud so they can accumulate and preparing for the next crypto hype.
Maybe it is the right thing to buy on the rumor and sell on the news.

Well, this is quite make sense when I think about it. Maybe this is also the strategy of China to create the hype of crypto in the future. Also I wanna believe that crypto especially bitcoin will come back stronger like couple months ago when it reaches $63k and the increasing price of bitcoin hopefully will affect alts.

[Dr.Osh]

After publishing china governments Bitcoin ban news , than after bitcoin price strongly dumping 40k to 29k and all cryptocurrencies market showing its red signal. But now bitcoin again touched $32k which means bitcoin could again Chance to hit high price....

at this time, I still hope the price of bitcoin can rise again above $ 40k. For some reason, news about China always has a strong effect on the price of Bitcoin. however, currently the price of bitcoin is indeed very low. however, I believe that early July prices will recover.

[shogun47]

Another day with a lot of huge red candles, but somehow Bitcoin bounced back a little again. I don't know if the bounce is just temporary or if it is substantial resistance that we can deem to be a good sign. DOGE has suffered massive losses, even more than many of the other top market cap coins. Ethereum also suffered a little more than Bitcoin, but is stable for the moment as well. I find it so difficult to make any conclusions from these movements now. A few say it is a great opportunity, others say don't catch a falling knife. I personally think it is no falling knife and Bitcoin has a strong support base, but that doesn't mean it could crash further. It definitely can.

Today and the next few weeks are indeed days that are so confusing and dilemmatic. It is difficult to see movements based on trading techniques, as the market is more influenced by sentiment towards bitcoin and altcoins. We believe that bitcoin is very strong and will not fall any deeper, but the movement that is so hard to read due to sentiments from the government or even figures makes a lot of losses. Hopefully it will rise and stabilize soon

it is bouncing back and forth. Sometimes it seems it will touch $30k again, that it goes up again towards $35k. If there are no other negative news on the horizon I think we will stabilize or maybe even go up a little from here eventually. If another wave of massive FUD hits, I think we can go down a lot from here. Hopefully there are some good news coming up anytime soon!

[judaspriest]

After publishing china governments Bitcoin ban news , than after bitcoin price strongly dumping 40k to 29k and all cryptocurrencies market showing its red signal. But now bitcoin again touched $32k which means bitcoin could again Chance to hit high price....

at this time, I still hope the price of bitcoin can rise again above $ 40k. For some reason, news about China always has a strong effect on the price of Bitcoin. however, currently the price of bitcoin is indeed very low. however, I believe that early July prices will recover.

I don't really expect the bitcoin price to go up if you look at the current market conditions,
I respect your opinion but I think it looks like in early July the bitcoin price will still be more or less like this,
what's clear is that we don't know for sure so it's better to just keep following the progress

[Skinny48]

No matter how strong the stunt BTC and crypto market pull the only way is downward trend, the highest we are going to see BTC goes is that 60k, it's finally over pack your things people and wait for the next halving, stability incoming? I don't think so it's possible that BTC will reach 10k again this I assure you, we are heading into big red market and nothing can stop it, not even a good news, I don't expect many to understand this but if you've been in crypto space for years you should understand perfectly.

[Botnake]

No matter how strong the stunt BTC and crypto market pull the only way is downward trend, the highest we are going to see BTC goes is that 60k, it's finally over pack your things people and wait for the next halving, stability incoming? I don't think so it's possible that BTC will reach 10k again this I assure you, we are heading into big red market and nothing can stop it, not even a good news, I don't expect many to understand this but if you've been in crypto space for years you should understand perfectly.

I've been here for years already and I know what you are saying, based on experience, I believe that we will likely see a more down trend that would cause more panic, but for me, it's normal, we've seen a lot of that in the past so there's nothing to panic, we just have to understand and trust the market so everything will be easy for us.

[gurunanakji777]

I would say it's a correction phase. Honestly speaking I am not watching the value of my coins at the moment just keep an eye on the total market cap. I don't want to panic by watching the value of my coins now and then I know in the present market it will take time. I hope the market will again green in the month of August as the market is dropping or consolidating at the moment so I have not much expectation for now at least we have to wait for one more month. I will try to remain patient in this market so that I will not repent later.

[tabas]

at this time, I still hope the price of bitcoin can rise again above $ 40k.

No need to worry, it will surpass $40k as you wish. We only need to wait until that time comes again. Bitcoin has seen $35k today and that's not far from what you're thinking.

For some reason, news about China always has a strong effect on the price of Bitcoin. however, currently the price of bitcoin is indeed very low. however, I believe that early July prices will recover.

It is always like that, we cannot change that unless bitcoin reaches higher price and even there will be new FUD to come. It's going to remain stronger.

[DarkDays]

After publishing china governments Bitcoin ban news , than after bitcoin price strongly dumping 40k to 29k and all cryptocurrencies market showing its red signal. But now bitcoin again touched $32k which means bitcoin could again Chance to hit high price....

at this time, I still hope the price of bitcoin can rise again above $ 40k. For some reason, news about China always has a strong effect on the price of Bitcoin. however, currently the price of bitcoin is indeed very low. however, I believe that early July prices will recover.

Yes, I do agree with this sense of positivity around the market. At the moment, there are still a few glitches here and there that seem to have a negative effect on the market but now that more people have become aware of the power of blockchain, to my speculation the markets will turn green again.

[altixz]

A lot of investors think that fall of the market is a good time to buy tokens for the best and most profitable price. But nobody knows how long this fall will last. The most important thing is that the project will continue to develop even when market falls. Here is a development plan of PolkaSyndicate https://polkasyndicate.medium.com/polkasyndicate-development-plans-b45e1b824239

With a falling market, it is much more difficult to develop a project, as many people are disappointed in cryptocurrencies, but if investors see that the project is developing, then confidence in it increases.

The market has been falling for too long to be just a correction, that is, we need to adapt to a falling market.

[Botnake]

I think a correction is normal after so much hype, now that China has gone to great lengths to eliminate bitcoin from the country and as other Western states continue their proposed adoption the markets seem to be back in green.

Honestly this correction is way too massive compared to the previous ones we used to have, and it's been over a month now since bitcoin dumped from $64k and even after the positive news from El Salvador about accepting bitcoin as a legal tender, China fud seems like its never going to stop, everyday they keep thinking of a way to eliminate bitcoin just like today, they banned banks from having anything to do with crypto exchanges, but bitcoin is bigger than just one country compared to back in 2017 when news like this affected bitcoin's price badly.

I beg to disagree, in the 2017 bull run, bitcoin almost reach $20k, and the price correction dip to as low as $3k+.

If we round it off, $20k to $3k, bitcoin was only holding 15% of its ATH, while now, the ATH was $60k (IIRC) and the price at $32k now, so we are still 50% dump from its original price, based on the comparison, 2017 correction is worst.

[viananda2525]

I think a correction is normal after so much hype, now that China has gone to great lengths to eliminate bitcoin from the country and as other Western states continue their proposed adoption the markets seem to be back in green.

Honestly this correction is way too massive compared to the previous ones we used to have, and it's been over a month now since bitcoin dumped from $64k and even after the positive news from El Salvador about accepting bitcoin as a legal tender, China fud seems like its never going to stop, everyday they keep thinking of a way to eliminate bitcoin just like today, they banned banks from having anything to do with crypto exchanges, but bitcoin is bigger than just one country compared to back in 2017 when news like this affected bitcoin's price badly.

I beg to disagree, in the 2017 bull run, bitcoin almost reach $20k, and the price correction dip to as low as $3k+.

If we round it off, $20k to $3k, bitcoin was only holding 15% of its ATH, while now, the ATH was $60k (IIRC) and the price at $32k now, so we are still 50% dump from its original price, based on the comparison, 2017 correction is worst.

current correction not finished yet in my opiniion , we will see another dump till bitcoin back to previous ATH at 20k. any fud that come to market be trigger for whales push bitcoin price go down at that level. we face extreme fear from retail trader which is have no experience at all about crypto market cycle.

[lenovop-70]

well when the cryptocurrency price collapses on exchanges like what happened in the past few days it is a nightmare for traders and I'm sure many are stuck at high prices because of the condition of all the coins that have collapsed, while for the whales this is a very good opportunity because for sure they will use the other money to buy more coins because they will not miss this opportunity to buy as many coins as they can at cheap prices.

You are right buddy, all we need just keep our position strong, if any spear buy the dip and well see what happen next week, i think that is best what we can do, especially for me. Just follow the whale.

[purka5]

A lot of investors think that fall of the market is a good time to buy tokens for the best and most profitable price. But nobody knows how long this fall will last. The most important thing is that the project will continue to develop even when market falls. Here is a development plan of PolkaSyndicate https://polkasyndicate.medium.com/polkasyndicate-development-plans-b45e1b824239

The market has been falling for too long to be just a correction, that is, we need to adapt to a falling market.

I agree that the market decline may be too long and it may be protracted, but in any case, we need to continue to develop the project.