Bitcoin continues to decline, what causes it?

[Ultegra134]

Bitcoin used to go up and down, yesterday became the second bad record in 2022 because the price dropped more than 10%, of course this is a test of patience, but seeing the trend that is happening most investors panic because many influencers also believe that bitcoin price will drop again below $30 k.

Right, this is going to long test of patience for everyone, specially who haven't seen the bear market in 2018, it was painful and yet we all passed it with flying colors in 2020 although there is a covid-19 effect.

If it drops to $30k or below, don't be dishearten, on the contrary, fill your bags with cheap BTC and have patience and resiliency and confidence that we will see a massive bull run in 2024-25.

I've suffered many market crashes, this period isn't that bad as others make it seem. I suffered the 2017 crash, Bitcoin lost more than 80% of its value within a few days, if I remember correctly, dropping from $20.000 to $5.000. It was absolutely disheartening and unfortunately, disappointed me so much that I quit Bitcoin and the forum altogether. Looking back to it, I wish I hadn't acted that way, because it would be a great opportunity to accumulate cheap Bitcoin.

This drop is approximately 50% down from the November all-time high, it's not that dramatic, while it's a great way to acquire more BTC. If it was for any other altcoin, I wouldn't be so confident, thus, I don't feel threatened by Bitcoin's fall at all.

[1714941590]

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[CryptoYar]

Bitcoin used to go up and down, yesterday became the second bad record in 2022 because the price dropped more than 10%, of course this is a test of patience,

Yes, this is the time of patience and those will go through this period. then they'll be rewarded for their patience.

Warren Buffett said
“The stock market is a device for transferring money from the impatient to the patient.”

But lemme change it for BTC holders. 
“Crypto market is a device for transferring money from the impatient to the patient.”

but seeing the trend that is happening most investors panic

in most cases, bitcoin starts recovering when everyone is in fear.

because many influencers also believe that bitcoin price will drop again below $30 k.

Even though chances are slim to drop below 30k but you know it is crypto anything can happen.

[LUCKMCFLY]

The price of bitcoin falls due to the current market situation, we do not have a feeling of total optimism, there is uncertainty and the idea of reaching 100k has faded.
I do not want to say that bitcoin is destroyed on the contrary bitcoin has strong defenders.
The market is behaving according to opportunities.
Two days ago it became official that Elon Musk bought Twitter. The news caused the price of Doge coin to shoot up from 0.12 to 0.16. Do some believe that Elon Musk is going to allow payments on Twitter with Doge?
When I am concerned about the price of bitcoin, I also check its dominance in the market and it still remains between 39% and I think there is no need to worry.

Seeing it from a speculative point of view of the market, I think that if BTC falls it is due to the action of the same market, action of whales, it is possible that the entrance of a whale causes a very large short, it is common, that is how millionaires buy , a millionaire always buys cheap, by nature that is what the BTC millionaires who acted in 2017 do, which in fact since 2017-2018-2019 have not taken action, other whales and other institutions have been entering that buy regardless the price, but the style of the BTC whales is always to go in short to buy cheap, I don't know if Elon Musk's purchase of twitter has caused it, I really don't think so.

[lionheart78]

In the current news, It was stated that there are 3 factors why Bitcoin price suffer the recent decline. These are:

• Raging volatility
  • The Federal Reserve raised interest rates half a percentage point earlier this week and Wall Street responded with huge gains in the stock market on Wednesday. One day later, investors reversed course and sent markets into a nosedive — and took crypto prices down with it.
  
  Mainstream adoption lagging
  Numerous events last year underscored the growing importance of crypto in financial services. More retail investors bought in using Cash App or Robinhood; a growing number of businesses accepted bitcoin as payment for goods and services; and El Salvador adopted it as legal tender.
  This year has been quieter, with fewer milestones to chart crypto's progress as an investment and medium of exchange.
• Investors seeking safer ground
  Chris Kline, co-founder of Bitcoin IRA, said much of this week's fade in crypto prices simply stems from investors reacting to what's happening in the broader economy.

Definitely there are people taking advantage of the Bear Market and worsening it by spreading negative news regarding BTC.  Investors then react on it by either selling the holdings or diverting their investment away from BTC.

[Marvell1]

Bitcoin used to go up and down, yesterday became the second bad record in 2022 because the price dropped more than 10%, of course this is a test of patience, but seeing the trend that is happening most investors panic because many influencers also believe that bitcoin price will drop again below $30 k.

Right, this is going to long test of patience for everyone, specially who haven't seen the bear market in 2018, it was painful and yet we all passed it with flying colors in 2020 although there is a covid-19 effect.

If it drops to $30k or below, don't be dishearten, on the contrary, fill your bags with cheap BTC and have patience and resiliency and confidence that we will see a massive bull run in 2024-25.

Since I've experienced what happened in 2018, seeing the decline in Bitcoin that's happening now doesn't make me panic. That gave me
the opportunity to buy more Bitcoin, because I believe in the future of Bitcoin, which the current decline is only temporary. Because no matter
how low the price of Bitcoin falls, I believe there will be a time when Bitcoin will rise again to a much higher price. But indeed for newbies or
people who have never experienced the bearish trend that occurred in 2018, seeing Bitcoin's decline now, they will panic and most will sell
their Bitcoins at low prices. People who sell Bitcoin at low prices will definitely regret it later.

Regarding my prediction about the price of Bitcoin, maybe Bitcoin will drop even lower than the current price, but I believe Bitcoin will not drop
below $30k. Because many institutions have invested in Bitcoin for a long-term, so the price support at $30k is very strong. So we really have
to be patient to face the current bearish trend, because patience is the key to successful investment in Bitcoin.

If you compare the 2018 crash, the current price drop is nothing compared to the 2018 crash. Those who started panicking and dumping were market participants from 2020 so far, they must have heard of the 2018 drop but haven't gotten over it yet so the panic is still going on .

Many previous predictions said bitcoin will not drop below 35k but today it has dropped below 35k and nothing shows it will not continue to fall. I don't know if it will reach 30k or not, but I think there's still a chance it will.

[19Nov16]

It only took 2 days to make the bitcoin price drop from $40k to $34k, a lot of speculation on social media that bitcoin will continue to decline, of course this is a normal thing if we have known bitcoin for more than 3 years, but I'm optimistic that the market will recover soon and is preparing money to buy more.

[barbara44]

This time around FED rates, but that shouldn't have been a problem. I agree about the Warren Buffet quote though, I mean this dude has hold some stocks for 50+ years, that is more than some people ever hold anything, and that dude managed to not sell his stocks because it makes him money. Can you imagine what would happen if you buy bitcoin right now and hold it for 50 years?

I mean that would probably be a few million dollars each by that time, and you would be able to profit like insanely by that time. That is even if bitcoin continues and something else brand new that doesn't exist right now didn't come up. Buy now, wait, and you will get rich, but do not sell when you see profits or losses, just wait as long as you are capable of.

[bitterguy28]

Hey Guys, talking about my Title above and talking about Bitcoin. Basically Bitcoin is the only coin that is in great demand by people who plunge into the world of Cryptocurrency, even very many people are looking for a way and looking for ways how they can get this Bitcoin, of whom there are those who do Mining, Trading maybe is also included, maybe Bitcoin investment is also included, here we all know about this Bitcoin price, in the past few months Bitcoin price ranged at $ 63k.

don't just lean in Bitcoin only because there are lots of coin we can trust here in market , Bitcoin should be the safest but in short term ? this is not the best of course .

Talking back about my discussion above, in the past few days I saw Bitcoin is experiencing a continuous decline in value, what is the reason? and is this the beginning of its destruction? and do you think all Bitcoins will recover with a comeback?

Thank you <3

then the decline will continue lowering because this is how the market tend , after a great climbing year then there will be a dumping year to follow and that is the situation now.

[Dumbsize]

Bitcoin is showing serious price movements with every market situation. Some have even started calling it a risky asset. I wonder whether buyers should buy it at a low price or sellers should sell it before the prices drop any further.

[Shasha80]

Since I've experienced what happened in 2018, seeing the decline in Bitcoin that's happening now doesn't make me panic. That gave me
the opportunity to buy more Bitcoin, because I believe in the future of Bitcoin, which the current decline is only temporary. Because no matter
how low the price of Bitcoin falls, I believe there will be a time when Bitcoin will rise again to a much higher price. But indeed for newbies or
people who have never experienced the bearish trend that occurred in 2018, seeing Bitcoin's decline now, they will panic and most will sell
their Bitcoins at low prices. People who sell Bitcoin at low prices will definitely regret it later.

Regarding my prediction about the price of Bitcoin, maybe Bitcoin will drop even lower than the current price, but I believe Bitcoin will not drop
below $30k. Because many institutions have invested in Bitcoin for a long-term, so the price support at $30k is very strong. So we really have
to be patient to face the current bearish trend, because patience is the key to successful investment in Bitcoin.

If you compare the 2018 crash, the current price drop is nothing compared to the 2018 crash. Those who started panicking and dumping were market participants from 2020 so far, they must have heard of the 2018 drop but haven't gotten over it yet so the panic is still going on .

Many previous predictions said bitcoin will not drop below 35k but today it has dropped below 35k and nothing shows it will not continue to fall. I don't know if it will reach 30k or not, but I think there's still a chance it will.

It looks like Bitcoin is going down quite a bit right now and unexpectedly Bitcoin has finally dropped below its current $30k price. And this is not
a good thing, because there will most likely be a panic in the market and make the Bitcoin price likely to fall even deeper. I hope Bitcoin doesn't
drop below $25k, because if that happens there's a chance that more investors will panic. But since I'm quite experienced in the crypto world,
I'm still optimistic about the future of Bitcoin, although the current situation I admit is very bad. But I suggest we should be calm and not panic,
just hold on to the Bitcoins we have, because if we are affected and sell the Bitcoins we have, then the decline in the price of Bitcoin will be
even worse. I also suggest that for the time being don't monitor the crypto market too often, and spend time on other positive things.
This helps us to be able to better control our emotions and be patient in facing the current market situation.

[milewilda]

Dont know the actual reason but this one is already the result.

Bitcoin holds at $30,000, Coinbase loses millions of users and LUNA crashes to $1
https://www.youtube.com/watch?v=h-zGXC6PUAI

Now the price had gone below 30k(28k) as of this moment.
Lots of unexpected events honestly.

[Rasa nanas]

This kind of price drop is common in the crypto world because the price of crypto is also determined by supply and demand, and I think this sort of thing also happens in everything that has a price.
yes, one day market conditions will definitely recover and bitcoin or altcoins will touch ATH again. drastic price declines occurred in 2018 and most people thought that bitcoin would not reach ATH again, but what happened in 2021 was that bitcoin was able to reach much higher ATH than 2017. so there is no need to doubt, when the price of bitcoin drops drastically the thing we have to do is buy and hold.

[fullhdpixel]

This kind of price drop is common in the crypto world because the price of crypto is also determined by supply and demand, and I think this sort of thing also happens in everything that has a price.
yes, one day market conditions will definitely recover and bitcoin or altcoins will touch ATH again. drastic price declines occurred in 2018 and most people thought that bitcoin would not reach ATH again, but what happened in 2021 was that bitcoin was able to reach much higher ATH than 2017. so there is no need to doubt, when the price of bitcoin drops drastically the thing we have to do is buy and hold.

Markets in stock world do have this kind of falls and people do not talk about that when crypto falls. I have seen plenty of people who complained about 2008 crash, or the crash in 2020 march as well due to pandemic. All of those crashed the markets, we lived through a horrible economical crisis for 2 years during pandemic period and we understood it because that happens, it's understandable.

However what we need to realize is that crypto drops too, and yet for some reason people are thinking that "it's all done, good bye, it's dying" suddenly just because it went low for a while, that's not really a big deal, it happens all the time and we should be fine about that too.

[batang_bitcoin]

This kind of price drop is common in the crypto world because the price of crypto is also determined by supply and demand, and I think this sort of thing also happens in everything that has a price.
yes, one day market conditions will definitely recover and bitcoin or altcoins will touch ATH again. drastic price declines occurred in 2018 and most people thought that bitcoin would not reach ATH again, but what happened in 2021 was that bitcoin was able to reach much higher ATH than 2017. so there is no need to doubt, when the price of bitcoin drops drastically the thing we have to do is buy and hold.

In all markets, with supply and demand, this is also happening. What experienced people in the market will think when such decline comes is about the cycle.
We're all going to see that it's going to be another year of bear and will just have to be patient until we see the coming back of the bullish market. As it declines, it seems not hurting anymore unlike before that the market was totally down and everyone's upset. But now, I think everyone has learned from those bear markets and we all have our plans of accumulating and buying cheap.

[evilgreed]

              There are a lot of things going on with the world right now which could be the main reasons as to why bitcoin has been on the decline for a long time now. What's keeping my hopes up though is that there aren't massive crashes that reaches as low as the 33k area yet. And so I am hoping that the next drop will not go as low as 36k. My buy orders are at 37500 but sadly, wasn't triggered. A drop is still coming though, so I'll just have to adjust depending on how btc moves by then. Wishing it bounces up after a short dip.

I had a look at the Chart in Binance, Today the lowest price reached $37,700. I think it's strong support, if later it's destroyed then I think there's some price support in the $36k,$34k and $32k area. And furthermore, if it is destroyed then the words of the former Bitmex Chief Executive will become a reality bitcoin will reach a price of $ 30k in June. It seems that this is not in line with the new news of the purchase of 1.1k BTC by etf canada. Maybe if you have the remaining funds collecting BTC step by step at a low price, gradually is a good idea.

               Sadly, the thing I was afraid of really happened and even worse than I primarily expected. Good thing I was able to cut losses early and was able to get back what I lost and more by shorting. Just feel a but dissatisfied since I took profits too early at 26k. But yeah, profit is profit. At least though, I was able to stack up more on spot and was also able to buy the alts that I missed out on when the sudden bullrun happened. I wish we go up from here now at least till 41k.

[Semar Mesem]

I think the biggest factor is inflation that occurs in many countries, when inflation occurs, many people need cash and the first alternative is to sell cryptocurrencies, in fact I often see many members complaining because the economic situation is still difficult due to the pandemic.

[evilgreed]

I think the biggest factor is inflation that occurs in many countries, when inflation occurs, many people need cash and the first alternative is to sell cryptocurrencies, in fact I often see many members complaining because the economic situation is still difficult due to the pandemic.

               I agree. The thing about this though is that the very fear of inflation can also be seen as one of the triggers for people to jump into crypto currencies in order to save themselves or their money from the on going inflation. And the fact that covid has also restricted most of the businessess and services that were usually the source of profits from investments or jobs just increases the urge to get into crypto. Oh well, at least the lockdowns are stopping and some places are already covid free. I just hope that everything recovers faster which can also let new money flow into this market.

[aylabadia05]

in the past few days I saw Bitcoin is experiencing a continuous decline in value, what is the reason? and is this the beginning of its destruction? and do you think all Bitcoins will recover with a comeback?

The crypto market is very volatile, so the condition of Bitcoin which continues to decline in price is not appropriate if it is mentioned as the beginning of its collapse. In the past few years, there have been a lot of cryptos on the market and until now, almost every week a new type of crypto has emerged. The situation is very much different from 2017.

The consequences that arise with this situation can have an impact on the decline in market prices so that many investors experience losses on the altcoins invested.

I am sure, investors will focus on Bitcoin to invest in the long term which will have a positive effect on the price of Bitcoin in the future. Patience with the current situation in BTC is very important. Bitcoin will surely recover from the decline.

[ShowOff]

The crypto market is very volatile, so the condition of Bitcoin which continues to decline in price is not appropriate if it is mentioned as the beginning of its collapse. In the past few years, there have been a lot of cryptos on the market and until now, almost every week a new type of crypto has emerged. The situation is very much different from 2017.

The consequences that arise with this situation can have an impact on the decline in market prices so that many investors experience losses on the altcoins invested.

I am sure, investors will focus on Bitcoin to invest in the long term which will have a positive effect on the price of Bitcoin in the future. Patience with the current situation in BTC is very important. Bitcoin will surely recover from the decline.

Think about the fact that the price of bitcoin is determined by supply and demand and keeps changing over time. Negative news generates a lot of FUD which causes panic among traders and causes price drops, but when good news comes, hype will increase demand and prices will go up.

Price fluctuations are an important part for those who expect profit from trading activity. Several trading strategies have made traders good profits so this will be something that traders need to make money. So no need to worry about price fluctuations, it will be good when we know enough how to take advantage of it.

[Hamphser]

I think the biggest factor is inflation that occurs in many countries, when inflation occurs, many people need cash and the first alternative is to sell cryptocurrencies, in fact I often see many members complaining because the economic situation is still difficult due to the pandemic.

               I agree. The thing about this though is that the very fear of inflation can also be seen as one of the triggers for people to jump into crypto currencies in order to save themselves or their money from the on going inflation. And the fact that covid has also restricted most of the businessess and services that were usually the source of profits from investments or jobs just increases the urge to get into crypto. Oh well, at least the lockdowns are stopping and some places are already covid free. I just hope that everything recovers faster which can also let new money flow into this market.

We can't really avoid not to point out fingers with the current crisis that we are facing for it to be a possible reason on why crypto market is declining or into bearish mode although we can't really be that precisely tell if it's the reason or not because market had always been unpredictable since from the  start on which price could move randomly.

Despite of the conditions that we are in then it would be wise if we do such steps on taking advantages on getting opportunities to get in or make profits when the market starts to recover.