BTC price suddenly dropped from $ 31K

[sheenshane]

6-7% drop is not so much something we should freak out.. right?

It's exactly right, it's still a normal fluctuation after a short resistance that has been done and it's normal because of Bitcoin's volatile nature.
For now, IMO, I didn't expect that there's a bullish season, Bitcoin struggling too much, and possible the FUD was still there or might be because there are too many scam projects that have affected the Bitcoin price.

It's a regular price movement for me and nothing to be panicked about.  It will create another FUD if we think negatively about the price prediction.

[Kemarit]

6-7% drop is not so much something we should freak out.. right?

It's exactly right, it's still a normal fluctuation after a short resistance that has been done and it's normal because of Bitcoin's volatile nature.
For now, IMO, I didn't expect that there's a bullish season, Bitcoin struggling too much, and possible the FUD was still there or might be because there are too many scam projects that have affected the Bitcoin price.

It's a regular price movement for me and nothing to be panicked about.  It will create another FUD if we think negatively about the price prediction.

Not much of a FUD, but definitely we will see numbers going down because we are simply in the bear market. What makes the drop though to something to think about because it's not about bitcoin but after factors that contribute to the dip again. Nevertheless, there's no need to panicked, I've seen the price going to $31,000. So most probably speculators are going to short it, maybe in the next 24 hours so we should be cautious as well.

[Sir Legend]

Prices below $31k have been happening for more than 4 months, of course this is something we never expected, especially since last November's ATH price was around $69k, for daily trading of course this is a good opportunity to continue to profit, especially with small price fluctuations. ranging from 3 to 8 percent is very suitable for daily trading.

[sunsilk]

But whether we find out the reason or not, this is the typical bitcoin that we know. Sometimes surprises us upwards and sometimes downward.

This is my exact sentiment, the drop is not quite significant. Looking at the 24 hour chart in op, it looks like a sharp decline, but zooming out to about 30 days, you will notice that it's just another regular price movement in the wave of volatility.
https://i.imgur.com/pvo2Pmu.png
This is speculation board after all and I can understand why traders would want to explain all price movements as it helps to build analysis for future price predictions

Exactly.

Any time bitcoin rises, there would be a lot of traders that will find a reason behind its rise. But just how it's quick when it rose, a decline has also came but not that too deep which just shows that it's a normal movement.

That's just how bitcoin works. Regardless if there are certain reasons or not, bitcoin will drop its price when the market is still bearish and increases somehow when the market is approaching its bullish season. However, i'm still expecting for bitcoin to literally drop its price because the market has not recover yet. And since bitcoin is still not showing its high momentum, then expect that altcoins too will be influenced by the current price of bitcoin.

Yes, there's still the expectation that the market can potentially drop since we've just came from a very long bull run. But whatever is holding it, I'm liking this situation more than what we've got in 2018.

[peter0425]

Prices below $31k have been happening for more than 4 months, of course this is something we never expected, especially since last November's ATH price was around $69k, for daily trading of course this is a good opportunity to continue to profit, especially with small price fluctuations. ranging from 3 to 8 percent is very suitable for daily trading.

And if we will be listing each movement ?  then this section will be filled with same thread over and over again lol.

the price is bouncing 31k below and 31k above and this is not the first time that this happened so which is the next to come?

Just handle your funds, never sell at losses and never be greedy to seek for too much profit that is the lesson we should learn and made.

[kotajikikox]

Edit: I find out a few reasons, do not know if that is the cause that caused the market this morning to drop suddenly or not?

Then lets be enough for that reason mate and besides we cannot do anything about that and best to keep our way and not to be affected of those news and those movements .
Bitcoin will climb in time and will fall in time , never let your instinct dictate you to panic because this will send you nothing but losing .

[Joshapat]

The price of bitcoin has dropped several times under $ 30k, even the lowest position that has occurred is around $ 25k, many panicked and sold all bitcoin, but if we want a big profit target, the low price is a good opportunity to buy, immediately buy and I'm sure the price immediately returns to $ 40K.

[Nrcewker]

During the first week of June, we saw a slight rebound in bitcoin as well as the market. This morning, bitcoin unexpectedly dropped from 31k$ to 29k$. As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

The reason is very simple.
As people saw BTC price has moved up a little, so they instantly and desperately started selling their Bitcoins.
This is the main reason, I am guessing for which the Bitcoins price suddenly dropped.
Also don't forget that we are in bear market currently. So it will take some long time to get recovered.
Meanwhile it's an opportunity for all of us to buy Bitcoins at such a low price.
So whoever wants to dive in this eco system, this is the perfect time to do.
Hope everyone makes great profit in this tough time.

[wiss19]

This drop is not shocking at all but I already expected that this will happen again because it is been happening a lot of times already. There is no real reason for this drop, aside from what I've said earlier. The drop is small and it's not bothering at all so people won't exert an effort to investigate.

It is not fud that caused bitcoin to go down because fuds are not effective anymore as before but if ever it happens, it won't take a long time for it to recover because people can realize it easily. The link that you shared is interesting, it was an old case that the sec is trying to revive. It seems they want binance and the bnb coin to go down, not bitcoin.

[ShowOff]

The price of bitcoin has dropped several times under $ 30k, even the lowest position that has occurred is around $ 25k, many panicked and sold all bitcoin, but if we want a big profit target, the low price is a good opportunity to buy, immediately buy and I'm sure the price immediately returns to $ 40K.

Let's talk a little bit about the fact that the bitcoin price hasn't dropped to $25K since November 2021 till now as the lowest point so far is $26.7K based on binance's trading history. Traders panic is unavoidable as they can't stop themselves from selling, but after a while they will realize that the bitcoin price is bouncing back to more $32K.

The price of bitcoin still has the potential to return to $40K or more in the future, but you can't convince people that it won't be for long. It will take some time to get back to $40K, but it's always possible if there's such a big hype for bitcoin.

[savetheFORUM]

Prices below $31k have been happening for more than 4 months, of course this is something we never expected, especially since last November's ATH price was around $69k, for daily trading of course this is a good opportunity to continue to profit, especially with small price fluctuations. ranging from 3 to 8 percent is very suitable for daily trading.

Imagine that? But, it's nice that you keep on tracking it while me I forgot already if how long we have been in this dip. I guess that's because it was too long now. A dip in the price is expected but what is not expected is its duration. We never thought that it would run this long. I think this was the longest running dip in the history of cryptocurrency, right?

But, maybe this won't end yet very soon but there might be more dips to come later on so brace yourselves and be sure to prepare some funds now for buying purposes. When the price falls, there are losers too but those who trade and take profits out of small fluctuations have started investing low by the time btc fell a lot.

[traderethereum]

It looks like the bitcoin price will stay like this for a while and if the price drops any deeper, hopefully, traders or investors won't panic and will use the moment to buy more bitcoins.
The price of bitcoin is moving from $29k-$31k and it's happened a few times this month but there's still no sign of where it's going to go next.
If the price stays like this for the year, I guess it will be okay and hopefully, the price can start moving again next year.
We have entered the middle of the year and bitcoin is still stable in its current price range but hopefully, altcoins can move first while bitcoin is still looking for a position to rise again.

[Wong Gendheng]

The price of bitcoin is around $ 30k for more than a month, of course this makes us confused whether the price will continue to fall or immediately rise, I wait the right time to buy, many predictions if the price will fall again, maybe this is a good price to start big invest and profit.

[aylabadia05]

During the first week of June, we saw a slight rebound in bitcoin as well as the market. This morning, bitcoin unexpectedly dropped from 31k$ to 29k$. As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.
I know we're in bear season and it's not over yet, but it seems too surprising and I suspect there is some FUD that caused bitcoin to go down.

Edit: I find out a few reasons, do not know if that is the cause that caused the market this morning to drop suddenly or not?
https://twitter.com/business/status/1533918177691836416?s=21&t=ZOEbyVIYLUh1heoSTfOWsA&fbclid=IwAR1POtofIa-KQBviD6yUBFjH2L38mmmLxuwddPo-cY21LM3Agqvtdt9b_qg

The information is not fully related to the current condition of the Bitcoin market price which is still in the declining category. It's just information about the investigation into Binance whether it violated securities rules.

There is no definite information about the cause of the decline in the price of Bitcoin. A lot of bad news is trying to play to bring down Bitcoin but you should know that Bitcoin can surprise many people at times.

Don't be fooled like someone who just knows and understands about Bitcoin.

[STT]

Big blip on a small picture.    Best thing outside of trading is dont go below weekly bars when trying to draw a conclusion, the market gets pretty wiggly at times.     

Yesterday we had a blip down which was not surprising because overall markets were also quite negative.  It didnt stick, I think that might be some indication market is not as negative as it appears.   Certainly would be a nice surprise, other reasoning would be many moving averages are aligned with highest recent prices so we have a ceiling of falling momentum.   If we were step above that decline it stands to reason the relief rally might be a decent one.  Its the trends not the singular sharp move so much I hope to spot out.

Consider looking at your graph with candlesticks for 30 seconds on a regular basis.   I started off on line charts, its much simpler which for a graph is good but its also containing less information.  Line shows closing price only, candles describe what occurred during that time frame.

[Kemarit]

Big blip on a small picture.    Best thing outside of trading is dont go below weekly bars when trying to draw a conclusion, the market gets pretty wiggly at times.    

Yesterday we had a blip down which was not surprising because overall markets were also quite negative.  It didnt stick, I think that might be some indication market is not as negative as it appears.   Certainly would be a nice surprise, other reasoning would be many moving averages are aligned with highest recent prices so we have a ceiling of falling momentum.   If we were step above that decline it stands to reason the relief rally might be a decent one.  Its the trends not the singular sharp move so much I hope to spot out

And it seems we will have another blip, not surprised if we will go below $30,000 entering this weekends. This kind of down trend seems to be normal, at least though the support is still there and nowhere we are getting another lower lows for this month. Hopefully we would see another minor rally, a decent one might be far fetch for now as investors are also very impulsive specially the selling pressure is still very high.

[Oshosondy]

During the first week of June, we saw a slight rebound in bitcoin as well as the market. This morning, bitcoin unexpectedly dropped from 31k$ to 29k$. As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.
I know we're in bear season and it's not over yet, but it seems too surprising and I suspect there is some FUD that caused bitcoin to go down.

For like 2 months now, bitcoin has been between $28000 and $32000, as it falls below $30000, it increase above $30000 again and again. It even falled again like five hours ago to $29502, and it increased to almost $31000, yesterday, this has been happening for long time now. Fundamentally, I do not see anything that is affecting bitcoin price than the bears and bulls that are just traders and making the price not to go below or above certain range.

[TravelMug]

During the first week of June, we saw a slight rebound in bitcoin as well as the market. This morning, bitcoin unexpectedly dropped from 31k$ to 29k$. As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.
I know we're in bear season and it's not over yet, but it seems too surprising and I suspect there is some FUD that caused bitcoin to go down.

For like 2 months now, bitcoin has been between $28000 and $32000, as it falls below $30000, it increase above $30000 again and again. It even falled again like five hours ago to $29502, and it increased to almost $31000, yesterday, this has been happening for long time now. Fundamentally, I do not see anything that is affecting bitcoin price than the bears and bulls that are just traders and making the price not to go below or above certain range.

I think it's more of the bulls trying to pull the market back. But then again, it's going to be an uphill climb moving forward as we are in a bearish market.

And so we might see this sideways pattern for a very long time. And if ever there will be a break out run, I don't think it's going to be huge, Maybe we will be happy to see the price hitting $35k at the end of the year.

[btc78]

During the first week of June, we saw a slight rebound in bitcoin as well as the market. This morning, bitcoin unexpectedly dropped from 31k$ to 29k$. As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

I don't Know if there is such a Word like EXPECTED in crypto? I believe that this is a market of speculation in which nothing is certain and permanent ? all prices are subjective to change and this either to Go up or at least going down?

how can you say that it is Unexpected when the price just drop by 2k ? when we even fall from 68k to below 30k?

and the time frame is at least 12 hrs when in 2020 march , the price drops more than 7k in just 4 hrs time.

[mich]

I’ve been watching Bitcoin fluctuate between 29K to 31K but I haven’t seen it hit anything higher in a while.

In my opinion, this is a good buying opportunity if you have extra fiat because I’ve seen this is pretty standard correction.

I’m waiting for BTC to 35k or possibly 40k before I feel things are more normal. I predict after that we’ll see start seeing bigger and bigger gains and huge adoption globally.

We’re heading into a recession but I think it’s very realistic to look at 65K coming around the corner as people look for a way to hedge against inflation.