A Little Surprised!

[Fundamentals Of]

I was honestly expecting Bitcoin to hit $50,000 soon. That didn't happen. It shouldn't have been surprising but because of big news like Terra's gradual purchase of at least 10 billion dollars of Bitcoin for its UST stablecoin, MicroStrategy's additional purchase of thousands of Bitcoin, etc, I was expecting that Bitcoin's price would somehow react positively.

And now that the Miami Bitcoin conference is currently happening with huge Bitcoin adoption surprises such as Shopify's adoption of Bitcoin lightning payments, the price is falling even more. Things are generally positive lately. There is also the news of the partnership of Jack Dorsey's Block, Adam Back's Blockstream, and Elon's Tesla for a 100% solar-powered Bitcoin mining project. And then there's Robinhood's integration of the Lightning Network.

These and many more good news, and yet the price is falling to $42,000?

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[Kemarit]

It could be that the market is exhausted, we have seen the price from mid to high $30,000 to $48,000 so that is a huge jump already. And so investors could have been selling at proportionate to get some profits. Nevertheless, the support is strong at $43,000 and it's not easy to be broken specially with some good news around like you mentioned. So I guess we should wait for the $50,000 threshold.

[adaseb]

I think the reason why it didn’t is because there is too much economical and geopolitical Issues at the moment. We got a war going on. Gas prices are at highs. We got horrible inflation and due to that we got maybe 8 or so rate increases this year. Fed has no choice but to increase interest rates.

Rising rates is not good for stocks and right now crypto follows stocks pretty closely especially the nasdaq index. So many people are on the side lines until this boils over. Another issue is the inverted yields which usually signal a recession. So people are going into risk-off mode.

[goinmerry]

These and many more good news, and yet the price is falling to $42,000?

It does mean that not all good news can be considered a factor for the price to rise up.

People seem not to react right away to any news, regardless of those is good or not to their own preference. But let's look at the good side wherein how much the price has already gone up since sitting at below $40,000 for a long period and in fact, there are speculations that it will take long before breaching again the $40,000 mark.

Let's just allow the price to rise on its own not relying purely on any market-related good news recently. Who knows that the little surprise you are referring to will turn into a big surprise.

[Yaunfitda]

As much as we think that the war will bring good to the market, because it did initially, I think this is one of the factors why the price continue to do down despite the many positive news that we had right now.

To much uncertainty going around us, investors might be hesitant to invest because of the situation and then we still have the Covid-19 and recently there is a discovery of a new variant.

[kotajikikox]

These and many more good news, and yet the price is falling to $42,000?

maybe this is what correction brings mate? we can see that there are increase recently about that Terra entering bitcoin and that Miami Conference but still brings dropping to the market of Bitcoin.

and also this is how market goes mostly mate , after the consistent increase then there will be a decrease but that doesn't mean we are having a Bearish market.

i think over the week? there will be a Surprise coming from all bitcoin supporters here.

[buwaytress]

Have to say the same, a little surprised. And my posts for the past weeks have always said it needs a strong movement in one direction to determine how the next period will look like, but we haven't exactly seen that either. Pushes up to 4k, then falling back now to 42k, neither have happened as drastically, nor with the momentum to power through.

Also said April should stay above 40k the entire month before moving forward, and I did think that was likely, but still... slightly annoyed at myself for not selling a bunch I needed to sooner.

[Chato1977]

Also said April should stay above 40k the entire month before moving forward, and I did think that was likely, but still... slightly annoyed at myself for not selling a bunch I needed to sooner.

Lucky that i made some selling couple days ago , actually before falling to 46k ,  as i badly needed funds for my Mothers Eye operation , so with this I am happy seeing it fall badly since yesterday.

But like OP and You , I am a bit surprise because i am having a second thought if will sell some bitcoin or will withdraw my funds in bank, so good decision on my part for this one.

[traderethereum]

Maybe the market needs more support to lift the price because the previous news about bitcoin hasn't been able to help much to lift the bitcoin price.
But I'm still sure that sooner or later, the price will go up and who knows, the price increase in the future will be faster than we thought.
This situation is like being in between sideways and downtrend but I see it more in a correction state and hopefully, this is the last deepest correction that occurs.

[buwaytress]

Lucky that i made some selling couple days ago , actually before falling to 46k ,  as i badly needed funds for my Mothers Eye operation , so with this I am happy seeing it fall badly since yesterday.

But like OP and You , I am a bit surprise because i am having a second thought if will sell some bitcoin or will withdraw my funds in bank, so good decision on my part for this one.

Man, if I needed money for an emergency like that, I'm not even looking at the price or timing it, I'm choosing the fastest way to liquidate (which, thankfully for me, is still Localbitcoins, it gets me cash in less than a minute using a Trader "exchange bot").

I last needed a significant sum at the end of 2020, just as the rally was really starting to play out. I did feel a twinge of regret back in November for sure as it really was a chunk of my holdings, but the money was needed urgently and I didn't hesitate. I still sold above 2017 ATH, and on the balance, it was worth a hell lot more than if I'd saved in fiat, so absolutely pleased in the end anyway.

No point stacking if you can't use it to improve the lives of those dear to you, no?

[Wexnident]

Well, it's probably because it's not a "first kind of thing" event. It's not as effective as the first ones before it, and probably due to other factors which pretty much negated the increase that should've happpened (and even decreased the price instead). Maybe we need a different kind of event that could force the movement to go up in general (though tbf, the general movement these past few weeks has been positive). It only went down this past week I think? Might even be a correction from the past few weeks gradual growth.

[LogitechMouse]

These and many more good news, and yet the price is falling to $42,000?

The 200 Moving Average.

That is the reason why Bitcoin is falling these past few days. Lets also take note that technical is more reliable than the fundamentals and I don't think we should follow the news and base on that whether price of Bitcoin will fall or not.

In TA, the 200 MA is a very hard price to push through whether it is crypto or stock market and base on some analysts when an asset goes above the 200 MA and stays there for a long period of time there is also a chance that it will continue to go higher. Well, its not a certainty though that it will happen but I think that 200 MA is the reason alongside the sentiments of investors too why Bitcoin is falling despite of the many good news that is happening.

[Baofeng]

Well, it's probably because it's not a "first kind of thing" event. It's not as effective as the first ones before it, and probably due to other factors which pretty much negated the increase that should've happpened (and even decreased the price instead). Maybe we need a different kind of event that could force the movement to go up in general (though tbf, the general movement these past few weeks has been positive). It only went down this past week I think? Might even be a correction from the past few weeks gradual growth.

This is obviously a correction from the last 3++ weeks that we have been enjoying a positive growth and so this could be the start of it. But it seems that we are going to be on a sideway pattern, at least the price is around $43k and it should hold at least this weekend so I'm not expecting more downturn.

[coolcoinz]

My long standing theory is that the price is becoming more detached from the value because of the constant outflow of coins from exchanges. The market cap is so high these days that if we were to measure value by the % of total fiat money invested in the space and account for inflation, we would easily be at 50k right now. To check it, just take one of the biggest exchanges like Bitfinex and check how much coins you need to sell in order to move the price. For instance, the coins needed to drop the price of Bitcoin by 5k usd (around 10% of total price) was just ~11k BTC. 500 million USD is enough to cause a crash on a 800 billion market cap asset. What do you think would have happened if someone dropped a bomb of 10 billion USD in coins on spot exchanges? We'd probably go below 30k instantly. Would that mean Bitcoin is worth 25k USD or something like that? Of course not! It would only mean that there's not enough liquidity on exchanges to support such big trades in such a short time.

Remember guys, price pumps and crashes are not a representation of value, but a trend on exchanges. They are only showing what people who trade on spot exchanges are doing and should concern you only if you're trading or planning to move from BTC to another investment.

[someone703]

These and many more good news, and yet the price is falling to $42,000?

Buying more when the price is low and waiting for it to rise again, I always feel people are being rushed and impatient. Control your psychology with the market. Although each person will have their own way of managing their wealth, I see many people are still stuck because of losses in the market, and those who are profitable are still feeling overwhelmed. I feel happy no matter how the market turns out, satisfied with what I have.

[GreatArkansas]

These and many more good news, and yet the price is falling to $42,000?

Buying more when the price is low and waiting for it to rise again, I always feel people are being rushed and impatient. Control your psychology with the market. Although each person will have their own way of managing their wealth, I see many people are still stuck because of losses in the market, and those who are profitable are still feeling overwhelmed. I feel happy no matter how the market turns out, satisfied with what I have.

Price falling around $42,000 for me is normal, I believe the strong support for Bitcoin from a short-term perspective is the $40,000. It also becomes psychological support and the $50,000 level now is strong resistance.
I am very bullish for the short-term to mid-term for Bitcoin right, with these minor drops in Bitcoin, I believe it is just a temporary and a healthy correction.

[Lucius]

I think the reason why it didn’t is because there is too much economical and geopolitical Issues at the moment. We got a war going on. Gas prices are at highs. We got horrible inflation and due to that we got maybe 8 or so rate increases this year. Fed has no choice but to increase interest rates.

Rising rates is not good for stocks and right now crypto follows stocks pretty closely especially the nasdaq index. So many people are on the side lines until this boils over. Another issue is the inverted yields which usually signal a recession. So people are going into risk-off mode.

I think you have a good idea of what is currently affecting the markets, and there is a lot of talk about these things on various business TV channels that I have watched in the last few days. Despite the good news, risky investing at the moment is not an option for the average Joe as he becomes increasingly aware that the prices of all essentials are skyrocketing.

Of course, that doesn’t mean no one is buying, but even big fish can’t move the crypto market upward at the moment.

[rhomelmabini]

I'd say it will take time before the market will digest what's going on around worldwide and it's not only monopolized by the good news that's mainly crypto related, it needs outside of it's realm, maybe the stock, forex market as well. We're in the sideways market or accumulation phase so ranging from $30k - $50k was a normal thing in me I guess.

[sarmrakib]

I also have surprised that the market is doing nothing positively even after having many great news .The market teach us that it is really tough to get what he wanna do next .I was really waiting to get a positive and strong bullish trend after publish the news of investment by Microstrategy .You have mentioned all the big news what was really expecting to go market to the uptrend but its not happened .I think the whole market are on shaking and hopefully we will get a good positive trend to the up .I am not doing any trade right now and trying to get the movement of btc which is really stuck on 42k$ now at the moment .Lets see what happen in next .

[Gozie51]

Although that it may look surprise but it doesn't mean the price won't go back there. Yes the expectation of many including myself was that it will keep going higher with the positive information so far. The bull has a way to ride the market when it is time, maybe we are having a little correction downward for another run to start. Enough reasons could have caused the drop but with a few more positive news will begin the highs