Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says

[Doell]

I'm the person not that easy to worry ! bitcoin need a correction to rise I see it from time to time even this is not a bearish ! some analysts predict it will even fall below 50K but in my opinion that price will not happen get to that point

[Coyster]

No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.

There are quite a lot of "get rich quick" investors these days, and most, if not all of them hardly believe in the network, they just want to get in, make good ROI, and then walk out. More often than not, this are the kind of investors that worry a lot, especially when there is an inconsequential drop in price/plunge, I sometimes do not blame this type of investors cause they do not understand the network and how sustainable it is for the long term. Having said that, investors with adequate knowledge of the Bitcoin network would take most drop in price as only just a correction phase, and they even go as far as seeing it as an opportunity to accumulate more coins.

[BIT-BENDER]

There is no need to fret about Bitcoin's recent drop below $60,000, according to Matt Maley, chief market strategist at Miller Tabak.  
The market analyst recently told Yahoo Finance that the largest cryptocurrency could still fall "a lot" without enduring any real damage from a technical standpoint.
He estimates that Bitcoin would have to plunge below $50,000 to cause some serious damage. In such a case, the crypto king would break its trendline that goes back to the July lows:
"It can still come down quite a bit without having really major technical damage."
Last Wednesday, Bitcoin hit a new record high of $69,000, soaring into overbought territory.
Even some long-time bulls of the likes of Morgan Creek's Mark Yusko have been on pullback watch.
While Maley worries that a notable decrease in the supply of liquidity could lead to "some problems" for Bitcoin and Ether, he is still bullish in the long term.
He adds that there are plenty of equities that are "much more vulnerable" than Bitcoin.

Source: https://u.today/bitcoins-recent-drop-below-60k-is-not-worrisome-analyst-says

No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

[oHnK]

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

The negative issues that China has recently spread are natural for them to do, but they continue to have an impact on the market.  Even though we all know, their government is also the holder of Bitcoin, they play the role of regulator to raise and lower the market price.  Although this is not the only factor in the crash of the BTC price, we can use it as a reference for consideration of our choices. 

https://www.google.com/amp/s/news.yahoo.com/amphtml/crypto-crackdown-china-put-bitcoin-072124409.html

[dunfida]

I'm the person not that easy to worry ! bitcoin need a correction to rise I see it from time to time even this is not a bearish ! some analysts predict it will even fall below 50K but in my opinion that price will not happen get to that point

Even myself considering to be like this and all of the years that ive been hangin around on this market then fundamentals could really make out some effect but it would be just temporal.

Sentiments or words that came from other people specially known ones would might really be that important but hoesntly they arent really that
something special for you to spot on.

It would really be just still a simple speculation that had been made.

[ultrloa]

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

The negative issues that China has recently spread are natural for them to do, but they continue to have an impact on the market.  Even though we all know, their government is also the holder of Bitcoin, they play the role of regulator to raise and lower the market price.  Although this is not the only factor in the crash of the BTC price, we can use it as a reference for consideration of our choices. 

https://www.google.com/amp/s/news.yahoo.com/amphtml/crypto-crackdown-china-put-bitcoin-072124409.html

They have many attempts made just to disrupt the growth of bitcoin and maybe this is just a simple manipulation tactics again so that they can buy at more cheaper price knowing that they are also competitive upon holding this so maybe we shouldn't easily get panic on certain circumstances since that's what they like us to feel so that we will sell our hold bitcoins. Maybe for now its better for majority to stop listening to China fuds or any obvious manipulation so that we will not influence newbie people to get afraid on them market corrections.

[AmoreJaz]

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

The negative issues that China has recently spread are natural for them to do, but they continue to have an impact on the market.  Even though we all know, their government is also the holder of Bitcoin, they play the role of regulator to raise and lower the market price.  Although this is not the only factor in the crash of the BTC price, we can use it as a reference for consideration of our choices.  

https://www.google.com/amp/s/news.yahoo.com/amphtml/crypto-crackdown-china-put-bitcoin-072124409.html

They have many attempts made just to disrupt the growth of bitcoin and maybe this is just a simple manipulation tactics again so that they can buy at more cheaper price knowing that they are also competitive upon holding this so maybe we shouldn't easily get panic on certain circumstances since that's what they like us to feel so that we will sell our hold bitcoins. Maybe for now its better for majority to stop listening to China fuds or any obvious manipulation so that we will not influence newbie people to get afraid on them market corrections.

how many times have we seen this kind of price "crash" throughout the years? countless times. and yet, a lot of us are still affected by this market, maybe owed to investments that we are trying to protect. but more then likely, a lot are secretly buying their own stash as it is really good point before btc will rise again to more than 60k.
but in our situation today, it is quite different as there are so many entities involved already, even whole country like el salvador is already in this journey. so the likelihood that it will go up anytime soon is always there.

[kawetsriyanto]

I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.

I am also optimistic that the price won't drop below $50k. The current drop is just a normal correction, so it will end soon and increase again to reach the next target (pass $70k level). November and December are special months in Bitcoin bullish histories, these are the time when Bitcoin soars drastically before the next bearish. However, there is no guarantee that the same history to repeat, there is always a chance for a different bullish scheme. Let's see how far the drop! Then, we can estimate the possibility of the next pump/dump in Bitcoin. DYOR/DWYOR

[qwertyup23]

People need to stop being so dramatic.

We had literally had almost two months of uninterrupted growth. The greed some people show just baffles me.

To be "worried" about this recent correction is laughable.

I think rather than seeing this as a negative outcome, take this as an opportunity to invest more and purchase for long term HODLing while the prices are below $60,000. People who negatively reacted to this kind of market definitely do not understand the market and price volatility of BTC.

I also agree with you- those two (2) months were seen as continuous development and price increase on BTC. Some of my friends were already speculating that its growth will further touch the $100,000 mark by the end of this year. Everyone should just let the market decide for the price and do long-term HODLing.

[Wawa2013]

I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.

I am also optimistic that the price won't drop below $50k. The current drop is just a normal correction, so it will end soon and increase again to reach the next target (pass $70k level). November and December are special months in Bitcoin bullish histories, these are the time when Bitcoin soars drastically before the next bearish. However, there is no guarantee that the same history to repeat, there is always a chance for a different bullish scheme. Let's see how far the drop! Then, we can estimate the possibility of the next pump/dump in Bitcoin. DYOR/DWYOR

People who are already experienced in the crypto world, consider it normal for Bitcoin to drop below $60k right now. Although I was actually
quite surprised that Bitcoin dropped below $60k, but I'm still optimistic that the price of Bitcoin will soon recover and can rise again to prices
above $60k. I agree that Bitcoin is not going to drop below $50k, moreover November and December do have a good history for Bitcoin.
Because usually near the end of the year Bitcoin pumps are often quite high, so I hope this year the same thing will happen. But because investing
in Bitcoin does have a very high risk, of course we have to prepare a backup plan in case Bitcoin moves not according to our expectations.
In conclusion, we really have to be careful when investing in Bitcoin, always do an analysis before making a decision.

[bounceback]

2021 is very different from its previous years because a lot of big institutions today have already backed bitcoin so we can say that the adoption rate this time is very strong and is not easy to break. Of course, bitcoin is still prone to show price decline whenever price correction enters the market but we can be more confident this time that bitcoin price won't really drop below $30k or even $20k because of the strong support it had.

Yes I agree with you 2021 is a really great year for bitcoin because this year bitcoin experienced a very significant price increase and made bitcoin managed to touch new ATH earlier this month at $68k and beat ATH in the previous month based on CMC data, so this shows us that currently bitcoin is the only cryptocurrency investment coin that is most sought after by the public.

[giammangiato]

I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.

I am also optimistic that the price won't drop below $50k. The current drop is just a normal correction, so it will end soon and increase again to reach the next target (pass $70k level). November and December are special months in Bitcoin bullish histories, these are the time when Bitcoin soars drastically before the next bearish. However, there is no guarantee that the same history to repeat, there is always a chance for a different bullish scheme. Let's see how far the drop! Then, we can estimate the possibility of the next pump/dump in Bitcoin. DYOR/DWYOR

People who are already experienced in the crypto world, consider it normal for Bitcoin to drop below $60k right now. Although I was actually
quite surprised that Bitcoin dropped below $60k, but I'm still optimistic that the price of Bitcoin will soon recover and can rise again to prices
above $60k. I agree that Bitcoin is not going to drop below $50k, moreover November and December do have a good history for Bitcoin.
Because usually near the end of the year Bitcoin pumps are often quite high, so I hope this year the same thing will happen. But because investing
in Bitcoin does have a very high risk, of course we have to prepare a backup plan in case Bitcoin moves not according to our expectations.
In conclusion, we really have to be careful when investing in Bitcoin, always do an analysis before making a decision.

In the past I betrayed bitcoin and it turned out to be my biggest mistake, I am confident that over time it will continue to give great satisfaction, you need to have patience and courage, bitcoin is a certainty, it is like the internet At the end of the 90s, few believed it and many have betrayed him, but in the end the internet has become the revolution of the world. Be patient.. dont panic 

[AakZaki]

Any decrease will not be a problem if the targeted investment is a long-term investment.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.

[kro55]

Any decrease will not be a problem if the targeted investment is a long-term investment.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.

Yes, Long term investment is always profitable, this little correction will give the market more strength to move forward. It is surely a buying opportunity for newcomers. I don't think I will ever get the chance to buy Bitcoin anytime below $50K, because maybe by the end of this year it will cross $90K and once it crosses $90K the chances of its price falling will be greatly reduced, so now is the right time to buy Bitcoin for long term investment.

[freedomgo]

Any decrease will not be a problem if the targeted investment is a long-term investment.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.

Yes, Long term investment is always profitable, this little correction will give the market more strength to move forward. It is surely a buying opportunity for newcomers. I don't think I will ever get the chance to buy Bitcoin anytime below $50K, because maybe by the end of this year it will cross $90K and once it crosses $90K the chances of its price falling will be greatly reduced, so now is the right time to buy Bitcoin for long term investment.

There is really no need to worry for the recent drop for bitcoin because once you decide to hold bitcoin for long term, you should be prepared for whatever corrections that may happen. Even if the price drops so much, it should not matter to you because your goal is not to sell it at its low price but sell it at its peak. So never lose patience while waiting for its peak to achieve because that's part of long term hodling. And you should stick to your goal no matter what because winners never quit, and when you decide to take other direction and change decision, just make sure you will never end up in a mess.

[Wawa2013]

I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.

I am also optimistic that the price won't drop below $50k. The current drop is just a normal correction, so it will end soon and increase again to reach the next target (pass $70k level). November and December are special months in Bitcoin bullish histories, these are the time when Bitcoin soars drastically before the next bearish. However, there is no guarantee that the same history to repeat, there is always a chance for a different bullish scheme. Let's see how far the drop! Then, we can estimate the possibility of the next pump/dump in Bitcoin. DYOR/DWYOR

People who are already experienced in the crypto world, consider it normal for Bitcoin to drop below $60k right now. Although I was actually
quite surprised that Bitcoin dropped below $60k, but I'm still optimistic that the price of Bitcoin will soon recover and can rise again to prices
above $60k. I agree that Bitcoin is not going to drop below $50k, moreover November and December do have a good history for Bitcoin.
Because usually near the end of the year Bitcoin pumps are often quite high, so I hope this year the same thing will happen. But because investing
in Bitcoin does have a very high risk, of course we have to prepare a backup plan in case Bitcoin moves not according to our expectations.
In conclusion, we really have to be careful when investing in Bitcoin, always do an analysis before making a decision.

In the past I betrayed bitcoin and it turned out to be my biggest mistake, I am confident that over time it will continue to give great satisfaction, you need to have patience and courage, bitcoin is a certainty, it is like the internet At the end of the 90s, few believed it and many have betrayed him, but in the end the internet has become the revolution of the world. Be patient.. dont panic 

Not only you who doubt Bitcoin and betray it, most people will do the same, who would have thought Bitcoin could be this big now. Even I believe
Satoshi Nakamoto was surprised by the achievements of Bitcoin, since the beginning Bitcoin was created only as a currency, but surprisingly Bitcoin
could be the best digital asset right now. I also do not deny if anyone equated Bitcoin with the internet in the 1990s, because many people did
not believe and ignored Bitcoin when it first appeared. Similar to the internet when it first appeared, many were pessimistic, but now it has become
a basic human need. We learn from our mistakes, never underestimate new technology, so if new technology emerges in the future, soon
we learn correctly and adopt it. Now it's actually not too late to invest in Bitcoin, because Bitcoin will go up in price much higher, so take advantage of
the current price drop to collect Bitcoins.

[Reatim]

There is no need to fret about Bitcoin's recent drop below $60,000, according to Matt Maley, chief market strategist at Miller Tabak.  
The market analyst recently told Yahoo Finance that the largest cryptocurrency could still fall "a lot" without enduring any real damage from a technical standpoint.
He estimates that Bitcoin would have to plunge below $50,000 to cause some serious damage. In such a case, the crypto king would break its trendline that goes back to the July lows:
"It can still come down quite a bit without having really major technical damage."
Last Wednesday, Bitcoin hit a new record high of $69,000, soaring into overbought territory.
Even some long-time bulls of the likes of Morgan Creek's Mark Yusko have been on pullback watch.
While Maley worries that a notable decrease in the supply of liquidity could lead to "some problems" for Bitcoin and Ether, he is still bullish in the long term.
He adds that there are plenty of equities that are "much more vulnerable" than Bitcoin.

Source: https://u.today/bitcoins-recent-drop-below-60k-is-not-worrisome-analyst-says

No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.

actually even if the price drops down to below 30k again like recently? still this is not worrisome because investors that knows how to hold also knows how capable bitcoin to make increase.
and besides this 2021 will make multiple increase before dumping in the following years , but if you managed to buy when the price is half cheaper then yes you may see the opportunity to sell out but depend on your motive of investment.

[Ozero]

Only new buyers are getting worried when the price drop a little I think, an old timer in the game should already be used to seeing btc price volatility as part of the market growth,
Those who understand where this is going already took advantage of that drop to top up, btc has gained recognition a lot that little drops like this should not be a problem.

We must understand that the fall in the price of bitcoin in the middle of the fourth quarter puts an end to our desire to see a good rise in prices in this market before the end of this year. If we don't give a damn about it yet, then really, nothing is happening yet. We'll have to wait a few more months for the next wave of price growth to gather.

[michellee]

Only new buyers are getting worried when the price drop a little I think, an old timer in the game should already be used to seeing btc price volatility as part of the market growth,
Those who understand where this is going already took advantage of that drop to top up, btc has gained recognition a lot that little drops like this should not be a problem.

We must understand that the fall in the price of bitcoin in the middle of the fourth quarter puts an end to our desire to see a good rise in prices in this market before the end of this year. If we don't give a damn about it yet, then really, nothing is happening yet. We'll have to wait a few more months for the next wave of price growth to gather.

Hopefully, it will not need more months to wait for bitcoin increases again to back to see the price reach the high price. But if the situation still likes this, I hope the new investors will not panic and sell their bitcoin because that can increase the price. This fall gives us more chances to buy bitcoin at a low price because we might not see this price again in the price, especially when the price stays at $70k or even higher.

[Woodie]

Easier to say for the whales who are in it for the long term, but any body buying for the first time and price dips below the $60k which as long been difficult price barrier to break it can actually be worrisome tbh . But with scalpers this is nothing new as many would have sold at its all time high and bought again at its current dip making the double profit when price recovers and a more profitable strategy to undertake if you asked me . Btw this was  unavoidable because momentum was not anchoring on any thing like some big news.