Bitcoin on a recovery mode

[bitjoin]

When bitcoin dumps up to 10%, panic always happens to every crypto user, especially bitcoin trader. Whatever happens in the crypto market, Bitcoin is still bitcoin, and so far bitcoin has always been able to break the slanted issue made by some people who do not support bitcoin. Corrections will always occur in the crypto market, it is unavoidable. Excessive panic will make it difficult for us to think clearly, thus making some traders regret not being able to control their emotions when the bitcoin price slightly corrected.

[adaseb]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

I expected the price drop, because of the 200 btc purchased by El Salvador, the 200 btc is being dump by the seller so it has a big effect on the price, but I believe that the dropping of price will not take long it will surely recover, because after the huge drop another news is being stablish a bullish news from the Ukraine because Ukraine now legalize Bitcoin let us all wait and see the effect of this news.

This is not the reason why it crashed all the way down to $42K. Sure those 200BTC will be redistributed to poor people and many of them will most likely sell it to buy groceries or just sell it for cash. However it won't happen all at once. Some of them might even hold it thinking bitcoin will hit $100K eventually sometime in the future. So its not the cause for the drop.

We already knew the day it would be legal tender. I think just people, especially those on Reddit, all said they would buy $30 worth to mark the special day. Maybe it was nothing more than a buy the rumor and sell the news. However I just think the market was way overleveraged again because we had a very strong recovery from $28K and way too many people opened long positions using the futures market which is all highly leveraged.

[Pom_bensin]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

that's bitcoin volatility. Bitcoin market corrections always occur anytime in seconds, minutes, hours, days, months, years, all crypto markets, especially bitcoin, will experience downward and upward corrections. so I don't think this is a surprise for bitcoin. the most important thing is don't miss the bitcoin moment when the green light

[rodskee]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

no its not, it even drops low in the following days https://coinmarketcap.com/currencies/bitcoin/

and looking at the graph there are no even a small indicator that we are seeing to be pumping in the next few days or weeks.



so maybe we will see more of this dumps in the following days .

Hoping wont fall down to 20k level again at least not this month.

[Rajamuda]

What I'm thinking right now.. obviously it's only temporary and I think that at this point.. could be a new entry. It will definitely recover, it's just that time will answer all of that with various things that can affect it. After a sharp decline, there must be a sharp rise, don't be too worried about this. Hopefully, traders can deal with situations like this as well as possible, the real traders won't be panic

[asrinur]

It seems the bearish sentiment is starting to wane as buyers fueled a relief rally from the shakeout low around $46,000. Bitcoin is up about 4% over the last 24 hours, but is still down about 8% over the last seven days. The broader uptrend is weakening but the price must stay above $45,000 to maintain the bullish outlook. Despite the short-term bullish signal, the ongoing bounce looks corrective. Therefore, it is unlikely to be a bullish trend reversal.

[Kelvinid]

It seems the bearish sentiment is starting to wane as buyers fueled a relief rally from the shakeout low around $46,000. Bitcoin is up about 4% over the last 24 hours, but is still down about 8% over the last seven days. The broader uptrend is weakening but the price must stay above $45,000 to maintain the bullish outlook. Despite the short-term bullish signal, the ongoing bounce looks corrective. Therefore, it is unlikely to be a bullish trend reversal.

People had strongly believed that Bitcoin will recover shortly after some correction, we've never see panic selling unlike before and this it helps for the fast recovery. What I think is we are on the way to go to reach $60k again before we end this year. I'm certainly optimistic about this as we know that the majority are in holding.

That probably in the next Bullrun will reach $100k when the market situation remains like this.

[Spack17]

Indeed, it is on a recovery mode now. But it is still struggling to reach higher levels. It looks like the price correction period is still continuing. As you can see in the photo, it went down to even $44.3k in the last 24-hour time period. After leaving the price correction behind as soon as possible, it will enter a full recovery mode I believe. I hope to see at least $60k at the end of this month. But considering the current condition, I might be just dreaming.

[Kong Hey Pakboy]

What I'm thinking right now.. obviously it's only temporary and I think that at this point.. could be a new entry. It will definitely recover, it's just that time will answer all of that with various things that can affect it. After a sharp decline, there must be a sharp rise, don't be too worried about this. Hopefully, traders can deal with situations like this as well as possible, the real traders won't be panic

It's temporary, like any other dips and skyrockets in the market, it's a temporary thing so it's unlikely that we would see a long year decline plus we have to think of this situation like an arrow being pulled back so it can go the distance. Just hodl and wait for your profit to grow more that you'd expect.

[michellee]

For sure, this moment is something that the investors will not let go of without buying bitcoin. Maybe it is a recovery mode but we do not know if the price will increase in the next week but it could be possible because sometimes, the price needs to correcting the price in the weekend. So I consider that this time is the correction time which can lead the bitcoin price to have another rally in the next week. But if the price is still going down below $45k, we will see another dump for bitcoin price. Just be careful with anything that can happen to bitcoin and maybe leaving the crypto market will be a good idea to see what will happen later.

[MrcMrc]

Bitcoin has given investors a long period of buyback as the recovery phase has lasted for a while now which is the best opportunity to fill the bag before the next jump happens, checking Bitcoin price at the moment it has already recovered back to 48k this shows one thing! Bullish signal I don’t know when the bull will be, but am certain it won’t take long for that to happen.

[el kaka22]

Not so much though is it? I mean yeah we have gone up this week which is a great feeling, it was under 45k and now it is over 48k and that's great. However if you realized it, the price stayed here, it is not going anywhere and I feel like 50k+ is so close yet so far. We should not be really doing anything that would be shocking to the world, it is just 50k, we all expect it, then why did it go to 48k and then stayed there, why did it failed to go to 50k?

I really want to know what will happen but I feel like the results may not be as great as we hoped it might be. Obviously there is a good chance we could still go up a lot, we could be even 70k who knows? Nobody can guarantee which direction it will go let alone the price and the date however the current situation shows that there is a good chance we may not end up with something profitable for a while.

[rahmatrf331]

Following the sharp sell-off on Tuesday where the bitcoin price drops with a 10% negative movement which sees the price of Bitcoin from above 52,000 to 46,000, which is a 10% sharp dropped, the entire crypto market has suffered from the crash in price. But as of Thursday afternoon, the bitcoin market has shown some sign of recovery where the price is heading to 47k the highest since the crash.

This often happens in the market for the price of all coins, the sharp decline does not occur only once this year, but it has little effect on the decline in the price of bitcoin and other coins, because in a short time everything will return to normal as before, even this year bitcoin has Surprisingly enough, from the previous price to be more increased, market conditions like this are almost rare for bitcoin from the previous two years.

recovery mode is common these days and as an investor of course you need to react to market prices wisely. There is a lot of confusing information about bitcoin's growth in September, some of which are trending assuming that bitcoin will be a bullrun for a long time, while other sources indicate that bitcoin is entering a recovery phase against the previous correction. therefore, be smart in taking opportunities in the recovery phase like now.

[Furious 7]

Bitcoin has given investors a long period of buyback as the recovery phase has lasted for a while now which is the best opportunity to fill the bag before the next jump happens, checking Bitcoin price at the moment it has already recovered back to 48k this shows one thing! Bullish signal I don’t know when the bull will be, but am certain it won’t take long for that to happen.

The bullish signal is already visible and shows green, even I have filled some of my bags before bitcoin recovered to $50k and above, and if this wall is broken then my belief of $60k will be achieved as well.
This is indeed a good cycle, I didn't expect yesterday's flash crashes to make me think about buying back and holding on to my hand, but the results are indeed good. I hope this recovery will continue for a long time until ATH can be broken.
I've also seen some pumping in altcoins too now that's been happening a lot.

[Shasha80]

Bitcoin has given investors a long period of buyback as the recovery phase has lasted for a while now which is the best opportunity to fill the bag before the next jump happens, checking Bitcoin price at the moment it has already recovered back to 48k this shows one thing! Bullish signal I don’t know when the bull will be, but am certain it won’t take long for that to happen.

The bullish signal is already visible and shows green, even I have filled some of my bags before bitcoin recovered to $50k and above, and if this wall is broken then my belief of $60k will be achieved as well.
This is indeed a good cycle, I didn't expect yesterday's flash crashes to make me think about buying back and holding on to my hand, but the results are indeed good. I hope this recovery will continue for a long time until ATH can be broken.
I've also seen some pumping in altcoins too now that's been happening a lot.

Bitcoin price increase of 6% compared to a week ago to me not only shows Bitcoin is recovering, but it is a sign that Bitcoin is starting to get
bullish again. A good move is not only holding, but by buying more Bitcoin before the Bitcoin price rises again above $50k. Because as you predicted,
it is very likely that the price of Bitcoin managed to rise again above $50k in the near future. Then Bitcoin will return to the price of $60k, this is
what I really hope to be true. It's no wonder some altcoins prices are also rising now, because most altcoins are indeed affected by Bitcoin
price movements. So if the price of Bitcoin is slowly rising right now, some altcoins are starting to go up too. Luckily for investors who previously
hold Bitcoin and some of the top altcoins, now they are starting to smile. because it will soon be able to generate large profits.

[pooya87]

So if the price of Bitcoin is slowly rising right now, some altcoins are starting to go up too. Luckily for investors who previously hold Bitcoin and some of the top altcoins, now they are starting to smile.

Actually whenever bitcoin price goes up, shitcoins get dumped against it and usually hard. And in the end when you compute your net profit you'll realize that if you had held bitcoin only the fiat value of your wallet would have been a lot more compared to when you held bitcoin and altcoins.

[SquallLeonhart]

I didn't expect yesterday's flash crashes to make me think about buying back and holding on to my hand, but the results are indeed good. I hope this recovery will continue for a long time until ATH can be broken.

If I would have left some more funds available for investing with bitcoins for long term holding, then I might have bought to enjoy the current recovery phase but unfortunately I left nothing to invest more with bitcoins hence I just needed to be watching the beauty of bitcoin recovery toward a new ATH. Honestly I have enjoyed such a moment many times since 2016 and this way I am sure we are going to test $100 in few weeks and then prices may double within a month.

Overall, we cannot completely say that bitcoin is into recovery mode because it never breached its this year's low anyhow but people assumed about bearish mode when bitcoin was hitting $28k levels but in my opinion it is just part of bullish mode and we are still in bullish trend since the January of this year.

[Ararbermas]

Bitcoin nowadays has a lot of good news so expect they can give an impact in the market soon. Indeed most of the analyst saying that this bearish mode will not last long like before as it's keep showing a strong support after the panic selling wherein even during the fork of ADA, bitcoin and some alts are affected to be honest but after 24hours bitcoin showing a good progress from the dip and surge back again .. So for this reason its not surprising if bitcoin suddenly jump and break the current resistance without any sign in my personal opinion.

[adaseb]

Bitcoin nowadays has a lot of good news so expect they can give an impact in the market soon. Indeed most of the analyst saying that this bearish mode will not last long like before as it's keep showing a strong support after the panic selling wherein even during the fork of ADA, bitcoin and some alts are affected to be honest but after 24hours bitcoin showing a good progress from the dip and surge back again .. So for this reason its not surprising if bitcoin suddenly jump and break the current resistance without any sign in my personal opinion.

Lately there hasn't really been any sense. The latest news was the El Salvador launch and Saylor buying more BTC. But that was like what, a couple of weeks ago, which is months in regular stock market time. The reason why bitcoin is doing down now is because the stock markets are getting toppy. The major stock indicies are about a break short term support and might go in for a deeper dip.

The reason why this is important because there is correlation between stocks and btc again. The stock market had a strong sell-off and most likely with covid returning, there might be a deeper pullback, at least until the end of September and most likely bitcoin will follow suite.

[Rasa nanas]

recovery is slower than I expected. My estimate after experiencing a fairly sharp price decline from $52k to $46k the price of bitcoin could quickly return to the price of $50k, but in fact the price of bitcoin tends to be stable in the price range of $47k - $48k. looks like $50k remains a tough resistance line to break so far.