Bitcoin failed at $58,000 and dropped by more than $3K in a day.

[SquallLeonhart]

Almost reaching $60K now and if this will continue, we might break the last time high and create a new ATH.
Those bad news are over and it seems that the market is now showing better upwards run, we don't know
if how high this bull will pump and what more surprises Bitcoin will bring us.

As holders, it's a very nice scene in the market. We are seeing good growth with our invested money.

Those bad news were manipulation and nothing else. There are too many people who believed that we were living in a situation where we didn't know what to do and the reality is that we are doing so great that we didn't know what to do next and manipulators took advantage of that situation and created bad news so that the price would fall and they could accumulate from the lower prices and make a profit a lot easier.

I believe that we should not be doing something that is risky based on bad news or any news because we are opening ourselves to getting manipulated. Whales and nations and many other big powers could manipulate you easily if you end up buying or selling based on the big news they are sharing.

[Kasabus]

Now that bitcoin is about to breach 60,000 again with a couple of $100s to go could this mean momentum would have been built to push it up further and maybe see a $3k to $5k climb in a day as seen when it was bearish and this happening over the weekend makes it more bullish for me.  But this being some kind of psychological area we have to wait and see how price will react around this price range.

Bitcoin as of this moment has already reached $60,207 so its more likely that the previous drop by $3k in just a day was a motivation for bitcoin to regain its momentum to push even more so that the strong resistance level will be surpass. And yes, its really happening now seeing the market becomes more bullish. I'm afraid the next step will be a price correction after that may drag down the price a little and after this, its now set to reach its new ATH possibly by this month.

[eaLiTy]

So the biggest mental barrier of $58k now has been breached already. So this thread now is somewhat moot, the failed attempt at $58k, then dropped $3k a day. But it seems this is over, it is invalidated already and maybe we are heading now for a new all time high.

By the way the market is rallying now, $58k was not even a barrier because it did not take much time for the price to breach those resistance. It is a common theme that you will see multiple users starting a thread with every rally and whenever there is a correction and that will keep on going.

The price already touched $61,314 and i am expecting that we will see a correction now and i am curiously waiting to see what the next move would be as anything is possible in the few few days.

[philipma1957]

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

Your thread title looks like shit. Change it.

[kendedese]

what you said has now come true because bitcoin is recovering very quickly and currently the bitcoin price is only about $3k adrift of ATH. $3k is certainly not a big price for bitcoin, especially now that the bitcoin price is on a positive trend. so most likely in the next few days we will see a new ATH which is higher than before.

[Ngemmeng]

but that doesn't apply for now because the current bitcoin price is able to break through $58k (to be $62k to be exact) and of course a $3k price drop is not a serious problem because to reach higher levels bitcoin needs to make corrections. after breaking the $50k resistance line the price of bitcoin shot up very quickly, and it looks like it's pretty easy to break $64k and $100k before the end of the year looks like it's about to hit.

[Silberman]

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

It is not a failure instead that is what we called starting up lol look at the price now, staying at 57-58k and the momentum is still there meaning at any moment the value will increase high ./
waiting for at least 60k before this Month end and another 10k before November ends means by December at least 90-100k is possible to reach.

We are now at the 60k level so I will not be surprised if we surpassed the previous all time high anytime soon, it is not going to be easy but I think there is a real possibility that we reach that level before the end of the month as the hype is once again returning to the market and we know that when that happens big movements become more common, I just hope that what happened at the end of the year of 2017 does not happen again as I do not want to go through several years of bitcoin doing nothing.

[bitgolden]

These $60k+ prices basically say that we are way too close to ATH and believe me that it will take some time.
I believe that we are just start of the bull run because that ATH breaking is a very hard thing. Did you catch what was the longest time that took for us last time we tried to break ATH?

I mean from $10k to $64k the place we stopped was basically $20k price and it took us a long time to break that and eventually we managed to break that and from there to $64k it was a lot easier. Which means that whenever you want to break ATH it takes a long time because there are too many people end up worrying what is going to happen and that is the problem, if we are not sure if it will break ATH or not then we are not sure what is going to happen and that is why we are going to wait and see and not buy during the ATH price and it will become very hard to break that.

[TheEconomists]

Using just a day movement of Bitcoin to make judgement in my opinion is not a good idea, and am wandering why people are quick talk about the down trend of Bitcoin. Bitcoin price has gone above $62k after you open this thread and there is tendency Bitcoin will surpass $80k if not $100k before end of this year.

[Jating]

These $60k+ prices basically say that we are way too close to ATH and believe me that it will take some time.
I believe that we are just start of the bull run because that ATH breaking is a very hard thing. Did you catch what was the longest time that took for us last time we tried to break ATH?

You mean the $19k++ last all time high in 2017? it took us 3 years to break that and then we continue up to 2021's massive spike to $64k.

I mean from $10k to $64k the place we stopped was basically $20k price and it took us a long time to break that and eventually we managed to break that and from there to $64k it was a lot easier. Which means that whenever you want to break ATH it takes a long time because there are too many people end up worrying what is going to happen and that is the problem, if we are not sure if it will break ATH or not then we are not sure what is going to happen and that is why we are going to wait and see and not buy during the ATH price and it will become very hard to break that.

And yet we are now in the position to break $64k, just like $3k-$4k and we can absolutely breach that next week. So I guess it will be easier that we thought, there are a lot of good news around and no doubt that it will influence many investors, old and new to pour their money again because of the expectations that $100k can be hit in December.

[xmonkeyx]

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

I think it's normal that Bitcoin also has a 3k increase in one day.
today Bitcoin has recovered, and we must not continue to see the decline that occurs. we have to look at the whole of both high and low prices.
with what happened today no one doubts Bitcoin will continue to increase in price.

[STT]

Its pulled back from strong pattern of rises, time to observe if it can hold this area as an area of higher support so that it may continue upwards



I think I have 57.5k as important to hold above should we not respect the straight line of support/resistance absolutely, thats roughly the weekly average.    I would not guess it goes down straight away, its possible the news of ETF is an ironic catalyst for selling and profit taking and this helps bring the price lower.

[Vaskiy]

Reaching $63k+ value and reached down. It looks like market need to breakout $61200 to reach the recent uptrend price of $63k. If it happens then there is more possible chances of breaking out the previous ath value. If not while rejection the market will drop down to $58k as said in the above quote. For some time it moves around the value and serves to be the bounce zone for the next big move.

[asrinur]

If I see the price of bitcoin is currently in an uptrend, although there is a slight decline. The occurrence of a decrease in the price of bitcoin, is a normal thing to happen. Therefore you do not need to panic when the price of bitcoin drops. As much as possible you strengthen your psychological condition after being damaged by worries and assumptions, then you will not easily panic and get carried away by emotions.

[bots1]

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

The decrease in bitcoin from $58k to $55k is still considered natural and has no effect. The $3k drop is only a few percent and it happens every week. Bitcoin, including a volatile market, often fluctuates in market prices, so this is nothing to worry about.

That's right, a few percent decline in the price of bitcoin often occurs every week and we shouldn't panic or think that this is the end of the trend of rising bitcoin prices. Therefore, I think while the price of Bitcoin is going down, it can actually take advantage of this momentum. After buying, then storing, and selling when the price rises or re-penetrates its highest level as in a few months ago, where Bitcoin had broken through ATH. We can also use the moments of the last few days to improve our portfolio.

[suzanne5223]

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

The decrease in bitcoin from $58k to $55k is still considered natural and has no effect. The $3k drop is only a few percent and it happens every week. Bitcoin, including a volatile market, often fluctuates in market prices, so this is nothing to worry about.

That's right, a few percent decline in the price of bitcoin often occurs every week and we shouldn't panic or think that this is the end of the trend of rising bitcoin prices. Therefore, I think while the price of Bitcoin is going down, it can actually take advantage of this momentum. After buying, then storing, and selling when the price rises or re-penetrates its highest level as in a few months ago, where Bitcoin had broken through ATH. We can also use the moments of the last few days to improve our portfolio.

I won't feel somehow cause some people to have the thought that the previous decline in the price of the Bitcoin market could be the end of the current bullish market because every Bitcoin halving effect market always ends it bullish when it 12months and if we calculate it, this is month is the 12th months. However, whatever happens in this year's market will determine if Bitcoin will continue to replicate the same momentum when it is in the halving market.

[lepbagong]

If I see the price of bitcoin is currently in an uptrend, although there is a slight decline. The occurrence of a decrease in the price of bitcoin, is a normal thing to happen. Therefore you do not need to panic when the price of bitcoin drops. As much as possible you strengthen your psychological condition after being damaged by worries and assumptions, then you will not easily panic and get carried away by emotions.

I agree that it's perfectly normal for bitcoin to drop until to $3K, and nothing to worry about. I agree with you that there is no need to panic and worry. because it can change your estimates, it can even reduce the trust that can just disappear.

bitcoin will even be able to do more than that in a day. even on the 16th bitcoin can also increase by the same value. so there is no need for excessive worry because the bitcoin trend will indeed continue to increase.

bitcoin is indeed trying to increase at the moment, at least it is to be able to surpass the last ATH which is at $64,804, because the opportunity to surpass the last ATH makes bitcoin more confident. ATH is always a benchmark to be able to increase even more, just like when it has to pass $50K.

believe that bitcoin will do its best at the time many people have predicted and we just need patience to wait for it.

[tengui]

Apart from Binance, there are many other exchanges that have been affected by China's new policy. the policy of course also affected the price of bitcoin and caused a significant price decline, but recently the price of bitcoin was able to recover quickly and currently the price of bitcoin is able to approach ATH. I am quite happy to see the movement of bitcoin this year because there are many moments where the price of bitcoin is able to recover quickly.

[bots1]

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

I think Bitcoin's current price drop is normal and only a small correction compared to the big price correction in last September. The current price decline will make Bitcoin take the first step to increase to reach a new ATH considering that Bitcoin has fallen very significantly in the last month. Therefore we don't need to panic with the decrease in the price of bitcoin which is more than $3k in a day.

[matchi2011]

Apart from Binance, there are many other exchanges that have been affected by China's new policy. the policy of course also affected the price of bitcoin and caused a significant price decline, but recently the price of bitcoin was able to recover quickly and currently the price of bitcoin is able to approach ATH. I am quite happy to see the movement of bitcoin this year because there are many moments where the price of bitcoin is able to recover quickly.

The recovery only takes a month from that September red now we are moving closely breaking and have a new time high, Bitcoin continue managing the upward rise and attract new investors, with the acceptance coming from more end users the momentum might continue to be stronger, we never know how high Bitcoin might reach but the chance is really possible breaking the last time ATH,.