Mauser
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January 07, 2022, 12:13:22 PM |
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Hard to say right now, there are many voices that claim we are already in the next bear market. I don't buy into this new downward trend. It seems more like a correction in the general upwards trend of Bitcoins. Like in your picture I think that prices are still high and bitcoins should be rising again in the near future. There is however a risk that too many people buy into the bearish news and a real panic selling can occur. A big crash is always a downward spiral that can force people even if they still believe in the project. We humans are herd animals that like to follow each other. Seeing many people run for the door can tricker a panic by itself. That's why best to resist and hope bitcoins will bounce back stronger than ever soon.
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Kelvinid
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January 07, 2022, 12:28:02 PM |
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Hard to say right now, there are many voices that claim we are already in the next bear market. I don't buy into this new downward trend. It seems more like a correction in the general upwards trend of Bitcoins. Like in your picture I think that prices are still high and bitcoins should be rising again in the near future. There is however a risk that too many people buy into the bearish news and a real panic selling can occur. A big crash is always a downward spiral that can force people even if they still believe in the project.
No matter how the market looks like, even it was bearish, people definitely think and say it was just a price correction. Well, it is not wrong but we sometimes think also that not all the time were in bullish, and can be these declines is might be a sign for another bearish season. I can't make people think the same as me and I was sure that many will disagree with me but there is one thing I would like to say, we better prepare for the incoming. We can never be confident that all the time we are in bullish, not even just to ask for it always...as the market remains volatile, we, therefore, to see those things upwards and downward motions.
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Blue0x.com
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January 07, 2022, 02:22:17 PM Merited by TimeTeller (1) |
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I think current Bitcoin price has more to do with inflation and the pandemic than traditional economics. You cant really graph or predict anything in a linear fashion with so many uncertainties going on at the same time.
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TimeTeller
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January 07, 2022, 07:26:36 PM |
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I think current Bitcoin price has more to do with inflation and the pandemic than traditional economics. You cant really graph or predict anything in a linear fashion with so many uncertainties going on at the same time.
Exactly, with the things going on right now, there are so many factors to consider. The traditional economics I believe is also not applicable in these challenging times. We can still use the concept but the situation is largely influence by the pandemic factor. We are not living in the normal years here or should we say, it is the new normal even in the economic point of view? BTC for me is still performing good, we are still above 40k. Remember at the start of pandemic (Jan 2020), the value of btc was only about $7-9k. Just look at the difference.
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el kaka22
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January 07, 2022, 07:29:04 PM |
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Nobody knows what will happen. I was around in 2018 and whenever it dipped, people were saying they bought the bottom and we’re going to sell at a new ATH. Then it dipped again and again and again and then people assumed $6K must be rock solid support until it wasn’t.
Then people assumed $4.5K was the low, until it wasn’t and then it went to like $3.5K and did nothing for many weeks. Many sold out of boredom and it was the low.
So who knows if 2022 will be a repeat.
People will keep on calling it the bottom for now as well, and even if it falls there is nothing wrong with that. Imagine all those people who said 6k was the bottom, if they kept their money they would have made 10x in just 3 years in 2021, how many investments are out there in the world that gives you 10x return in 3 years? If they are getting bored from waiting just 3 years, then they should not be investing in the first place. Investing is not a daily thing, trading definitely is so if they are traders they shouldn't have kept their coins for so long and traded daily and shouldn't be losing all that much money. However, if they are investors then they should be not getting "bored of waiting" for 3 years 10x return, even more, like 11x or so. This is why I keep saying that holding is the easiest and hardest thing ever. You literally do nothing at all, and some people can't do it for some reason, they keep selling and buying when all they have to do is literally nothing.
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Blue0x.com
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January 07, 2022, 07:33:09 PM |
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I think current Bitcoin price has more to do with inflation and the pandemic than traditional economics. You cant really graph or predict anything in a linear fashion with so many uncertainties going on at the same time.
Exactly, with the things going on right now, there are so many factors to consider. The traditional economics I believe is also not applicable in these challenging times. We can still use the concept but the situation is largely influence by the pandemic factor. We are not living in the normal years here or should we say, it is the new normal even in the economic point of view? BTC for me is still performing good, we are still above 40k. Remember at the start of pandemic (Jan 2020), the value of btc was only about $7-9k. Just look at the difference. What do you buy with BTC when USD is worthless?
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Hamphser
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January 07, 2022, 07:47:53 PM |
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Nobody knows what will happen. I was around in 2018 and whenever it dipped, people were saying they bought the bottom and we’re going to sell at a new ATH. Then it dipped again and again and again and then people assumed $6K must be rock solid support until it wasn’t.
Then people assumed $4.5K was the low, until it wasn’t and then it went to like $3.5K and did nothing for many weeks. Many sold out of boredom and it was the low.
So who knows if 2022 will be a repeat.
People will keep on calling it the bottom for now as well, and even if it falls there is nothing wrong with that. Imagine all those people who said 6k was the bottom, if they kept their money they would have made 10x in just 3 years in 2021, how many investments are out there in the world that gives you 10x return in 3 years? If they are getting bored from waiting just 3 years, then they should not be investing in the first place. Investing is not a daily thing, trading definitely is so if they are traders they shouldn't have kept their coins for so long and traded daily and shouldn't be losing all that much money. However, if they are investors then they should be not getting "bored of waiting" for 3 years 10x return, even more, like 11x or so. This is why I keep saying that holding is the easiest and hardest thing ever. You literally do nothing at all, and some people can't do it for some reason, they keep selling and buying when all they have to do is literally nothing. For those traditional investments then no one could give out those kind of returns which it is why they would really be regretting later on on what they do had missed. Speaking of bearish moments then its inevitable but its really hard to determine if its the bottom thats why whenever we do see some dumping then we do freak out and this would be mind boggling whether you do buy in or wait further for you to maximize possible buy entry which this thing makes it more harder.
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Vaculin
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January 07, 2022, 08:05:31 PM |
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Nobody knows what will happen. I was around in 2018 and whenever it dipped, people were saying they bought the bottom and we’re going to sell at a new ATH. Then it dipped again and again and again and then people assumed $6K must be rock solid support until it wasn’t.
Then people assumed $4.5K was the low, until it wasn’t and then it went to like $3.5K and did nothing for many weeks. Many sold out of boredom and it was the low.
So who knows if 2022 will be a repeat.
People will keep on calling it the bottom for now as well, and even if it falls there is nothing wrong with that. Imagine all those people who said 6k was the bottom, if they kept their money they would have made 10x in just 3 years in 2021, how many investments are out there in the world that gives you 10x return in 3 years? If they are getting bored from waiting just 3 years, then they should not be investing in the first place. Investing is not a daily thing, trading definitely is so if they are traders they shouldn't have kept their coins for so long and traded daily and shouldn't be losing all that much money. However, if they are investors then they should be not getting "bored of waiting" for 3 years 10x return, even more, like 11x or so. This is why I keep saying that holding is the easiest and hardest thing ever. You literally do nothing at all, and some people can't do it for some reason, they keep selling and buying when all they have to do is literally nothing. Well, 3 years is very long particularly for those investors who are eager to make profits. Because if they can make possible profits in the earliest time, i know they will do it but the problem is most of the investors aren't good traders at all. They tend to hold but when a small opportunity knocks, they eventually sell their coins. But if we can make consistent profits in trading even if the amount is only small, but once they are added, they will make up huge profits like what most of the long term holders wish to have.
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doomloop
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January 07, 2022, 08:11:07 PM |
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I think current Bitcoin price has more to do with inflation and the pandemic than traditional economics. You cant really graph or predict anything in a linear fashion with so many uncertainties going on at the same time.
If you talk about pandemic, I think that whatever effect that the pandemic might have had on the cryptocurrency market is currently over right now. It only affected the market when it started, that was in 2020, but that didn’t really take long before the downtrend was over and the market started to recover again. So, I wouldn’t say that this is something that has to do with pandemic, and moreover a lot of things are already back to normal, and pandemic is no longer preventing or stopping any activities at all from taking place. That’s all I would have to say for now.
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TheGreatPython
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January 07, 2022, 08:48:11 PM |
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Ok, as of late I've been drawing some lines (as practice, mostly), and now I'm more confused than ever. Everybody keeps talking about BTC being bearish, but the lines I drew show it to be on an upwards trend. I'm attaching a screenshot of what I see. The graph is from Binance.
BTC/USDT in one week? Well, in the market you don’t really need to do according to what people are saying. Yes you can get advice from people, but it’s good to do your own research and make your decision. If you keep following what people has to say all the time without verifying if it’s accurate or not, you’re likely going to end up with some problem due to wrong information. But right now, if you ask me I would say that the Bitcoin market is bearish, and the bearish trend is not yet over, and I don’t even think this is something that would be over anytime soon. With that said, I would as well add that now is the right time to start planning for your investment, you don’t have to wait till the market becomes bullish before you start investing. If your plan is to Hodl, you should invest when the market low and hold through out.
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The Sceptical Chymist
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January 07, 2022, 08:59:06 PM |
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No matter how the market looks like, even it was bearish, people definitely think and say it was just a price correction. Well, it is not wrong but we sometimes think also that not all the time were in bullish, and can be these declines is might be a sign for another bearish season.
Eh....whatever. Bitcoin dropped a significant amount in the last what, day and a half? We weren't in a bear market two days ago, and this correction that happened may or may not mean anything about where the bitcoin market is headed. It could be that some people got tired of waiting for the price to skyrocket and decided to cash out now (or it could have been a whale or two). It could be anything, really. The drop from $50k to $41.2k in such a short time frame kind of has me puzzled. There hasn't been any bad news that I know of that would cause a panic, and there's not much else that influences bitcoin besides factors that drive demand. Guess it'll have to remain a mystery. Bear markets don't always start with a massive dip like this, either. The only way we're going to know what kind of market we're really in is to wait a few months at least to see if bitcoin recovers or continues to slide. I have my fingers crossed.
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laredo7mm
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January 07, 2022, 09:33:40 PM |
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I really doubt that because the market is in extreme fear for the last one months and it is moving sideways for almost a year. The on-chain data shows that 1.3 million BTC has been out of circulation that means long-term holders are accumulating BTC. 76% of BTC from circulation has been moved to storage which means to those wallets that don't have any history of spending BTC. So with that remaining 24% supply, there could not be a major sell-off. We could see a small correction to eliminate paper hands so that whales can buy more but no major correction is expected.
Actually, I am expecting a mega rally for BTC very soon.
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Ziskinberg
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January 07, 2022, 09:45:13 PM |
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Actually, I am expecting a mega rally for BTC very soon.
Everyone is expecting that as we already bought a cheaper price of altcoins, however, it's not the scenario all the time as sometimes things happen on the opposite of our expectation, so I would also think of the possibility that a bear market will stay longer like the bull market we enjoyed last year. It's not new to us, we've been in this kind of situation and we witnessed how bitcoin and the entire market drop, but here we are, the market still survives and we just came from a long bull run.
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Zilon
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January 07, 2022, 10:02:26 PM |
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If you look closely at your chat @op you find out the market is in a rising triangle moving In a range form. The market might be bearish but not as if it's a bear market. A major break out will give a clear picture of the market structure for now it's a range market meaning price is revolving around $46k+ we should patiently wait for a break out to decide if the market is bearish
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Argoo
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January 08, 2022, 02:26:45 PM |
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You missed the fact that not everything can be seen on the graph.
There are many more factors that could affect the price movement that you cannot see on the graph alone. People are saying that bitcoin is now bearish because they are based on the previous trend where after a bull run a bear market will dominate and it looks like we are in the same scenario now.
What you believe now is always up to you, besides, it doesn't guarantee anything so we just have to follow what we think would happen based on our personal analysis, not on the so-called "experts" in the space.
Charts take into account only technical analysis, that is, one of many scenarios for the development of events. If humans were machines and their behavior could be predicted, then these graphs would be much more accurate. However, market participants are acting chaotically. The decisions we make from time to time depend on many factors, including our emotional state. And it changes frequently. What we do in one case, in similar situations, but later we do not do that. This is how we differ from machines and therefore technical analysis cannot be taken into account.
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Cling18
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January 08, 2022, 04:03:13 PM |
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If we'll look at the previous prices of Bitcoin, we'll realize that the current price isn't something to be bothered about because corrections like this would be normal. We shouldn't fear the current value because that's part of the cycle but we can't conclude that it's already bearish. To be honest, the graph could analyze yet it couldn't predict Bitcoin's future price accurately so we shouldn't think that the price will continuously drop.
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oHnK
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January 08, 2022, 04:57:32 PM |
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If we'll look at the previous prices of Bitcoin, we'll realize that the current price isn't something to be bothered about because corrections like this would be normal. We shouldn't fear the current value because that's part of the cycle but we can't conclude that it's already bearish. To be honest, the graph could analyze yet it couldn't predict Bitcoin's future price accurately so we shouldn't think that the price will continuously drop.
However, if you look at the previous correction, there is a fundamental issue behind the correction, so it is natural for the price to fall below 40k. Currently the conditions are quite different, the price continues to be bearish without any significant fundamental issues. So that the condition of falling prices, it can be predicted that it will touch the price of 35K.
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BITCOIN4X
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January 08, 2022, 06:47:48 PM |
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However, if you look at the previous correction, there is a fundamental issue behind the correction, so it is natural for the price to fall below 40k. Currently the conditions are quite different, the price continues to be bearish without any significant fundamental issues. So that the condition of falling prices, it can be predicted that it will touch the price of 35K. The bitcoin price correction has hit 41% since November ATH. Probably not the worst in the past year as I saw a correction of more than 50% after the April ATH. I don't really know if the bearish phase has been confirmed at this time, but since November 10 until today the bitcoin price is in a correction phase despite several attempts to recover. The potential for a correction of up to 50% of November ATH is always there if the market does not recover soon. $40K doesn't seem strong enough as support to contain the panic, so $35 would be a wall that is expected to prevent a big drop.
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browsiek
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January 09, 2022, 05:08:51 AM |
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The market is currently blushing red, perhaps this all stems from several factors. The result of my analysis that makes the market in the red zone is (Be careful this contains FUD) 1. The hacking of the BITMART exchange made institutional investors nervous. 2. Fear of the domino effect of failing to pay the debts of companies in China, the biggest example (the case of Evergrande) 3. Energy crisis. Since Indonesia, as the king of imports of nickel ore, the world has announced to limit the import of nickel ore to all countries. From this case, it is not only the crypto market that is affected but also the stock market 3.The FED says warning about crypto. 4. OMICRON Case 5.TAPERING is still looming over the crypto market. 6. BTC EXCHANGE RESERVE ATL means that the whales continue to hold their assets and are ready for dumo any time.
(DYOR)
(In fact, with this we are partying because we can buy our favorite crypto assets at a discount) and the good news is that ELSAVADOR will create a BTC city and there is a project that will be launched by the SEC, namely BTC ETFs) We are experiencing together in 2021 BTC goes down and finally rises again and forms its newest ATH "BUY THE DEEP"
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GeorgeJohn
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January 09, 2022, 05:24:21 AM |
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The level of bitcoin downtrend is much, holders is losing excessively because of the market downstream, so it's possible for it to go beyond the level it's currently, selling now is supported for those who don't want to have patience of holding for awhile, because right now the market is running very rapid in degradation, so it's the opportunity to swap into stablecoin instead of selling out of fear, many people will keep holding until their coin decreases to what's not obtainable.
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