Bearish market continues?

[Chato1977]

I knew this was coming , I thought it is back in February but I'm wrong because the price recovered back and in April reaches almost 50k again .
but now this is a clear sign that we are in bearish market and there is a lot of bad movement to come.
so we must be aware of this and expect more bad market circulation in the coming days.

[davis196]

The current situation on the BTC market kinda reminds me of May 2021.
In May 2021,the Bitcoin price dropped from 56K USD to 36K USD,mostly because of the Elon Musk FUD and some China FUD.Bitcoin recovered and hit another ATH in October/November 2021,which is 5 months after the price drop.
I'm not so optimistic about the BTC price recovering 5 months after the current price drop.
This year's price drop in May is caused by different factors-FED increasing interest rates,the war in Ukraine and fears of Russia escalating the conflict,growing prices of oil,stock markets crashing,etc.
The investors simply don't see Bitcoin as a safe heaven asset or inflation protection tool,that's why all the stock market investors,who are selling their stock portfolios aren't joining the crypto markets.
Don't sell,buy the dip and wait for 2024.This is the only winning strategy.There's no alternative.

[arufox]

I think the bear market will continue. Since several stock indices around the world were sluggish in recent days and the interest rates became higher by the US central bank in tackling inflation, many investors are selling off cryptocurrencies including bitcoin, and turning to safer assets. Therefore, the current bearish trend could bring the bitcoin price down to $28k.

[ultrloa]

At this current condition where almost all is falling and the conflict of Ukraine and Russia is not done yet we may see this continue as the economic crisis is now slowly hitting up badly in different parts of the world. Plus the bad sentiments towards different investments especially on crypto is not on its best shape so for sure many people will doubt and will take precaution upon buying so I guess we might see more worse of this in next following days.

[Natalim]

This is a perfect time to start investing in crypto. I encourage people to make their way into the crypto world while the market is in a downtrend.
But on the other side, I'd just hoped that early investors and those who bought coins during the ATH will still be able to control their weaknesses and not get tempted to sell for the sake of not helping the market get worse.

Many predictions arise and we mostly hear negative thoughts from different corners. It is eventually what the reality we have now and not to argue that 2022 is a bear season.

[Pesona1]

I think the bear market will continue. Since several stock indices around the world were sluggish in recent days and the interest rates became higher by the US central bank in tackling inflation, many investors are selling off cryptocurrencies including bitcoin, and turning to safer assets. Therefore, the current bearish trend could bring the bitcoin price down to $28k.

The FED decision to raise interest rates made the market now experience bearish and it looks like the current decline will continue until next week, the mental stress that occurs on investors after the FED decision makes investors like scared and throw bitcoin to secure their money, I think if there is no impetus and positive news right now there is certainly a possibility if bitcoin falls below $28K.

[mattujusuruga]

In my opinion, if you see a very deep price drop and a lot of negative sentiment at the moment, then the current bearish trend will continue and could bring the bitcoin price towards the $28k level. And to make the price move up even to return to the previous ATH level will be much more difficult and take a long time.

[_BlackStar]

The market is still unstable and may still be very bearish at the moment. I don't know where the lows stopped in this cycle but it looks like $29K has formed new support to hold back the panicked traders. The price of bitcoin has matched the same cycle of decline as in July 2021 when its highest ATH was $64K. But if there is a repeat of the price movement and the uptrend persists then I think we will again form a new ATH again this year.

As I write, the price of bitcoin has started to increase slightly to $31K. So there is a possibility that this upward trend will occur as part of the post dump market recovery to the price is $29K. The resistance now in the short term is $34-$35K ^{[TF 1-day],} but in the longer term it will probably be $45K-$55K ^{[TF 1-month].}

[Silberman]

In my opinion, if you see a very deep price drop and a lot of negative sentiment at the moment, then the current bearish trend will continue and could bring the bitcoin price towards the $28k level. And to make the price move up even to return to the previous ATH level will be much more difficult and take a long time.

We need to remember that despite how logical all the trading systems may sound at the end the markets are dominated by emotions, and right now fear has taken over the markets, however this means the market has a tendency to overreact and as such we could see a fast recovery as well, it seems the 30k level is holding up despite the FUD we are experiencing, so I think it is possible we may see bitcoin at 35k during the next week as the strength of the bears diminishes and people are not as afraid of the current drop in the price as they are now.

[dark1234]

In my opinion, if you see a very deep price drop and a lot of negative sentiment at the moment, then the current bearish trend will continue and could bring the bitcoin price towards the $28k level. And to make the price move up even to return to the previous ATH level will be much more difficult and take a long time.

We need to remember that despite how logical all the trading systems may sound at the end the markets are dominated by emotions, and right now fear has taken over the markets, however this means the market has a tendency to overreact and as such we could see a fast recovery as well, it seems the 30k level is holding up despite the FUD we are experiencing, so I think it is possible we may see bitcoin at 35k during the next week as the strength of the bears diminishes and people are not as afraid of the current drop in the price as they are now.

30k is the strongest vibonage line and if this can be broken then we will see the price at 28k for the next day because until now the bitcoin fear and greed index is very extreme
maybe it's like what happened 2018 so it took a long time to recover but I hope it's different and doesn't wait long for the bull to run

[Vaskiy]

Until now the market tries to gain resistance to stay above $30k. If it falls low to $30k, we'll come to know how far the market gonna fall. Possibly a downward decline to $30k could make the price reach $25k. The bearish move continues until some whales disturb the market. When Whales enter the market, there'll be inflow of money. This will push the market.

[Marvell1]

Perhaps it will continue based of the structure in the market and in my view it is because of the situation as well that seems common reason of panic selling as its very obvious that it's constantly a downtrend.
And for me surely this will become more worst since there's no sign of uptrend till this day.

With the world economy today and the Bitcoin bear market, its sure to plunge deeper. If its going to dip below $20k, this really will discourage the new investors who come into crypto since 2021. They have not experienced this tragic event that somehow some speculators are already expecting to happen.

There is a support that once the price hit at $29k, I think will bounce. Just a something that I would hope. Maybe it will bounce again after it.

Yes, the price will probably continue to drop below $30k and it will bounce back at the resistance at $29k but it will be a bounce in a bear market, not a strong bounce back in a bull market.
This situation is probably expected by many speculators because it has a strong impact on new investor sentiment, leading to panic selling and that could not be a better opportunity for them.

[Fundamentals Of]

As of now, I would not be surprised if the price of Bitcoin would continue to fall and would lose hold of the $30,000 level. I admit that was unimaginable for me in the past weeks, but now it seems it is happening any day or hour or even minute from now. Right at this very moment, the price is just barely holding on to $30,000. It could fall any time from now.

The main reason for this could be whales or large holders but the ensuing dips could be caused by panic selling of small time holders.

[MiF]

https://twitter.com/glassnodealerts/status/1523486793403838464?s=20&t=8PlfpoVcogJ02Ln_wchrbQ

 #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 3-month high of 1,755.021 BTC

Previous 3-month high of 1,729.605 BTC was observed on 08 May 2022

View metric:
https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


The price of bitcoin has started to fall since on the 07th, yesterday was just the continuation of a massive fall. Bitcoin whales are reducing and the exchanges inflow has been on the high since 3 months ago.  Inflow means that whales and other people that have bitcoin on wallet are moving it to exchanges. Whales prefer cold wallets, they do not leave coins on exchanges, they are mostly doing it to sell and bitcoin price fall.

https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


This means whales are selling which result to panic selling. But can this indicate that more bitcoin would still be sold in a way the dip would be below $30000? Bitcoin is around $32800 presently but the market is still bearish.

Well i think we all know and it is seen that btc is still in the bear market and anytime soon it will maybe fall below 30k$ again. That is why i still prefer in waiting for the next market situation, making a decision to buy or to sell this time is quite risky, i will wait till btc touches 40k$ before buying for assurance that i cannot loss big amount, market is unstable and very risky DYOR guys for safety.

[rodskee]

https://twitter.com/glassnodealerts/status/1523486793403838464?s=20&t=8PlfpoVcogJ02Ln_wchrbQ

 #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 3-month high of 1,755.021 BTC

Previous 3-month high of 1,729.605 BTC was observed on 08 May 2022

View metric:
https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


The price of bitcoin has started to fall since on the 07th, yesterday was just the continuation of a massive fall. Bitcoin whales are reducing and the exchanges inflow has been on the high since 3 months ago.  Inflow means that whales and other people that have bitcoin on wallet are moving it to exchanges. Whales prefer cold wallets, they do not leave coins on exchanges, they are mostly doing it to sell and bitcoin price fall.

https://studio.glassnode.com/metrics?a=BTC&m=transactions.TransfersVolumeToExchangesSum&mAvg=7


This means whales are selling which result to panic selling. But can this indicate that more bitcoin would still be sold in a way the dip would be below $30000? Bitcoin is around $32800 presently but the market is still bearish.

This proves everything mate , https://coinmarketcap.com/currencies/bitcoin/ that Bitcoin is not only falling down to 35k but maybe below 30k ? actually it did fell down to 29k recently so why not expect any losses in the coming months.


And I expect this to fall more this year, I also wanted to extend my support for the betterment of market but I also knew that I am waiting for good .

[Kemarit]

As of now, I would not be surprised if the price of Bitcoin would continue to fall and would lose hold of the $30,000 level. I admit that was unimaginable for me in the past weeks, but now it seems it is happening any day or hour or even minute from now. Right at this very moment, the price is just barely holding on to $30,000. It could fall any time from now.

The main reason for this could be whales or large holders but the ensuing dips could be caused by panic selling of small time holders.

Most likely it will be the small retail investors who have been selling off in the last week that causes the price to plunge in the $30,000 level.

Whales do might be controlling or manipulating it from behind, and they are the one putting a selling pressure. Anyhow, it is what it is, we definitely have to face the reality that the price is free falling right now.

[justdimin]

The current situation on the BTC market kinda reminds me of May 2021.
In May 2021,the Bitcoin price dropped from 56K USD to 36K USD,mostly because of the Elon Musk FUD and some China FUD.Bitcoin recovered and hit another ATH in October/November 2021,which is 5 months after the price drop.
I'm not so optimistic about the BTC price recovering 5 months after the current price drop.
This year's price drop in May is caused by different factors-FED increasing interest rates,the war in Ukraine and fears of Russia escalating the conflict,growing prices of oil,stock markets crashing,etc.
The investors simply don't see Bitcoin as a safe heaven asset or inflation protection tool,that's why all the stock market investors,who are selling their stock portfolios aren't joining the crypto markets.
Don't sell,buy the dip and wait for 2024.This is the only winning strategy.There's no alternative.

I would say that the drop had a meaningful reason and the pump was a surprise but nothing I could do about it. I have to say that the best case for all of us right now would be to just keep focused on the situation at hand and then hope that the similarities doesn't end here and the price would go up a lot.

I mean after that drop in 2021, we had a huge increase in October where the price broke over ATH (which was 64k before) and reached 68k. If the same thing happens again, then I will be fine but I do not know what to expect anymore, I have to say that the best case would be to just let it be and focus on making some strides towards pumping bitcoin again.

[GelatikKembar]

I knew this was coming , I thought it is back in February but I'm wrong because the price recovered back and in April reaches almost 50k again .
but now this is a clear sign that we are in bearish market and there is a lot of bad movement to come.
so we must be aware of this and expect more bad market circulation in the coming days.

you are very lucky mate to know that Bitcoin will be bearish and dump very deep,
do you know when Bitcoin and especially altcoins can reach new ath again? I'm really sad to see my portfolio is decreasing

[_BlackStar]

do you know when Bitcoin and especially altcoins can reach new ath again? I'm really sad to see my portfolio is decreasing

Nobody knows when it will happen again although we believe about its potential in the future. When it comes to bitcoin, I can probably convince you to stick with it and buy if you can afford it, but it's hard to expect bitcoin to surpass ATH any time soon so you should only do it for long term goals.

So far whatever has happened to bitcoin ^{[price correction, pump and ATH]} is also possible to altcoins. So you just have to hope that bitcoin will soon get back on the path of bigger gains after this decline and will affect altcoins' gains as well.

[Oilacris]

do you know when Bitcoin and especially altcoins can reach new ath again? I'm really sad to see my portfolio is decreasing

Nobody knows when it will happen again although we believe about its potential in the future. When it comes to bitcoin, I can probably convince you to stick with it and buy if you can afford it, but it's hard to expect bitcoin to surpass ATH any time soon so you should only do it for long term goals.

So far whatever has happened to bitcoin ^{[price correction, pump and ATH]} is also possible to altcoins. So you just have to hope that bitcoin will soon get back on the path of bigger gains after this decline and will affect altcoins' gains as well.

Sounds really simple for someone to be advised on buying on the dips but much sure that this isnt something a simple decision to be made specially now that the price doesnt really have an assured bottom

which it would really boggle up your mind on what would be the price level before it would make out some u turn or full turn to be bullish.Its all in question and hesitance and fear as of this moment.

No one would able to know on when it would end and how it would be ending up whether this would be a very long time bear market or just short one.