BTC price suddenly dropped from $ 31K

[bots1]

I think the current pattern of market movement with bitcoin volatility still looks stable even though there is a slight drop in price from $31k to $29k. Moreover, the current condition of the crypto market which is still under pressure due to various phenomena that occur, the crypto market has been in extreme fear for the past few months.

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[jostorres]

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.

The main reason why it dropped that much is because people were afraid when it was going down and sold to make it go down even more. If people realized that it was a great thing and they could buy cheap, they wouldn't sell it to begin with and it wouldn't go down that much, hence it wouldn't reach there.

So, "some" people need to sell in order to make it go down that much, and that is why I believe that we should be doing fine for a while longer. I believe that people who end up selling to drop the price to this level are the people we should be thankful about, thanks to them the price dropped and we could buy from a very low level and get richer in the future.

[Wawa2013]

I think the current pattern of market movement with bitcoin volatility still looks stable even though there is a slight drop in price from $31k to $29k. Moreover, the current condition of the crypto market which is still under pressure due to various phenomena that occur, the crypto market has been in extreme fear for the past few months.

To be honest, it's disappointing that Bitcoin has dropped back to $28k, whereas previously Bitcoin had managed to hit $31k. But there is no need
to worry about what is happening to Bitcoin right now, even though Bitcoin's price suddenly drops, it can be said that so far the movement of Bitcoin is
still quite stable. And I think now is the right time to buy Bitcoin, because with such a strong support price Bitcoin should be able to rise again
in the near future. What is certain is that we just focus on collecting as much Bitcoin as possible. So when Bitcoin finally pumped up and was even able
to rise above $35k, it will allow us to generate large profits from Bitcoin. We don't need to be afraid of the volatile Bitcoin price, as long as we don't
sell Bitcoin at a low price, everything will be fine. Because Bitcoin can always recover if it experiences a decline, therefore don't panic with the price
decline that occurs, we have to believe the future of Bitcoin is very bright.

[DoublerHunter]

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.                                                                  

^Definitely right and I agree with you.
This is just a normal fluctuation, if you will look at a graph in a month, it is just natural that BTC has fluctuated, of course, because BTC is highly volatile and that is a normal thing. I don't see any reason BTC's price will fall down beyond $25k but I have a strong feeling that BTC will back into $45k which is considered a normal price compared to the previous ATH.
The reason of this continue dropping of BTC price is just because there will be a FUD that is continuously affected by the market.

[Slow death]

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$.

and today the price simply dropped to $28200 honestly we are living in dark days, with this fall it is weakening the support that is at $28000 and if it breaks this support then we will see a big bloodbath that will take us to $26000 to $24000 in a short time and the trend could take us to $20,000, I'm afraid that we will see $20,000 again because that would make me have little daily volume to trade but at the same time it would be a good opportunity to buy bitcoin

As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

just join this:

1 - Russian-Ukraine war (sanctions)

2 - Luna (the great disaster)

so there are good reasons to make the price drop a lot

[Wilhelm]

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$.

and today the price simply dropped to $28200 honestly we are living in dark days, with this fall it is weakening the support that is at $28000 and if it breaks this support then we will see a big bloodbath that will take us to $26000 to $24000 in a short time and the trend could take us to $20,000, I'm afraid that we will see $20,000 again because that would make me have little daily volume to trade but at the same time it would be a good opportunity to buy bitcoin

As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

just join this:

1 - Russian-Ukraine war (sanctions)

2 - Luna (the great disaster)

so there are good reasons to make the price drop a lot

And both have nothing to do with Bitcoin imo...

[lornadane]

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$.

and today the price simply dropped to $28200 honestly we are living in dark days, with this fall it is weakening the support that is at $28000 and if it breaks this support then we will see a big bloodbath that will take us to $26000 to $24000 in a short time and the trend could take us to $20,000, I'm afraid that we will see $20,000 again because that would make me have little daily volume to trade but at the same time it would be a good opportunity to buy bitcoin

As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

just join this:

1 - Russian-Ukraine war (sanctions)

2 - Luna (the great disaster)

so there are good reasons to make the price drop a lot

And both have nothing to do with Bitcoin imo...

Yes that's right what you said.
The current decline in the price of bitcoin has nothing to do with either side of the news.
If we talk about the Ukraine war, it's long gone and they have embraced bitcoin.

[fzkto]

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$.

and today the price simply dropped to $28200 honestly we are living in dark days, with this fall it is weakening the support that is at $28000 and if it breaks this support then we will see a big bloodbath that will take us to $26000 to $24000 in a short time and the trend could take us to $20,000, I'm afraid that we will see $20,000 again because that would make me have little daily volume to trade but at the same time it would be a good opportunity to buy bitcoin

As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

just join this:

1 - Russian-Ukraine war (sanctions)

2 - Luna (the great disaster)

so there are good reasons to make the price drop a lot

And both have nothing to do with Bitcoin imo...

Yes that's right what you said.
The current decline in the price of bitcoin has nothing to do with either side of the news.
If we talk about the Ukraine war, it's long gone and they have embraced bitcoin.

The war is not over and will probably go on for a long time. By the way, this reason is now very convenient to use, blaming all the economic troubles on it. Even if Ukraine has adopted bitcoin, it does not say anything at all, because now there is only negative news from everywhere, so no one talks about anything except the war.

[Wilhelm]

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$.

and today the price simply dropped to $28200 honestly we are living in dark days, with this fall it is weakening the support that is at $28000 and if it breaks this support then we will see a big bloodbath that will take us to $26000 to $24000 in a short time and the trend could take us to $20,000, I'm afraid that we will see $20,000 again because that would make me have little daily volume to trade but at the same time it would be a good opportunity to buy bitcoin

As of now, I have yet to find an answer regarding bitcoin's sudden drop in price.

just join this:

1 - Russian-Ukraine war (sanctions)

2 - Luna (the great disaster)

so there are good reasons to make the price drop a lot

And both have nothing to do with Bitcoin imo...

Yes that's right what you said.
The current decline in the price of bitcoin has nothing to do with either side of the news.
If we talk about the Ukraine war, it's long gone and they have embraced bitcoin.

The war is not over and will probably go on for a long time. By the way, this reason is now very convenient to use, blaming all the economic troubles on it. Even if Ukraine has adopted bitcoin, it does not say anything at all, because now there is only negative news from everywhere, so no one talks about anything except the war.

Exactly. They aren't going to say they left the money printer on too long...

[rodskee]

And what we have now is another lowering mate , and there are some speculations that price of  bitcoin will drop even to 20k , so if this is real then your post here is more higher than what is coming .
and suddenly if this happens , I am a total failure lol because i am planning to take out at least 1/3 of my funds when the price is still 38k lol.

[ethereumhunter]

This week, the bitcoin price dropped back to $27k and it looks like it will be there next week. But there is still hope to see bitcoin price increase again and I still have hope to see bitcoin price return to the $35k-$40k price range. But for now, it's better to enjoy the price movement and if you are hesitating to enter the market, I suggest not to try to enter the market because it might confuse you. It's better to wait a while to see where the price will go and maybe you can place a buy order in the $27k price range and wait for it to fill.

[Reatim]

But I am not sudden in that drop mate , actually i am satisfied on what bitcoin performed recently , because I've waited for long from the end of November last year till now for the price of bitcoin to lowered down .
and now i am satisfied because i have purchased today at 27k ., and maybe will hold my coins till 2025 or at least late 2024?

[Wilhelm]

And what we have now is another lowering mate , and there are some speculations that price of  bitcoin will drop even to 20k , so if this is real then your post here is more higher than what is coming .
and suddenly if this happens , I am a total failure lol because i am planning to take out at least 1/3 of my funds when the price is still 38k lol.

If you are going to sell when it hits 38k you can consider yourself a failure because where we're going is at least 100k 

[Wilhelm]

But I am not sudden in that drop mate , actually i am satisfied on what bitcoin performed recently , because I've waited for long from the end of November last year till now for the price of bitcoin to lowered down .
and now i am satisfied because i have purchased today at 27k ., and maybe will hold my coins till 2025 or at least late 2024?

Same here I'm probably taking some profits at $200k for living and then waiting for $1M and higher even if that is 2030 or later...

[wxa7115]

But I am not sudden in that drop mate , actually i am satisfied on what bitcoin performed recently , because I've waited for long from the end of November last year till now for the price of bitcoin to lowered down .
and now i am satisfied because i have purchased today at 27k ., and maybe will hold my coins till 2025 or at least late 2024?

You got some bitcoin at a very good level, even if the price is still going down at some point we will see a recovery and most likely it will bring the price above the level at which you bought.

That means that unlike all of those people that bought bitcoin near the all time high you will spend very little time experiencing losses and the losses will be on the small side, so you do not need to sell your coins so early as it should be way easier for you to hold your coins for a very long time, thanks to the fact you made such a timely buy.

[Natalim]

It is likely we are closing down to the bottom...
The market can't able to hold weak people, they are now selling huge amounts making the market crash badly. Kinda be surprising as many accumulate in the market above $25k but for now, Bitcoin had fallen to $23k (at this post). I foresee that this might continue to drop more which could make worries and panic among the holders. As to see, this was not a small correction but big investors have already triggered panic selling.

[STT]

Been going on about the 200 week so often, its now risen to such a point and price decline also to meet up at that point.    Its fair to say we are quite bearish when challenging this measure of momentum but it still remains the 200 week will be higher next week then now and so on, its an underlying positive just very long term and we dont have to rise any time soon.

[romero121]

It is likely we are closing down to the bottom...
The market can't able to hold weak people, they are now selling huge amounts making the market crash badly. Kinda be surprising as many accumulate in the market above $25k but for now, Bitcoin had fallen to $23k (at this post). I foresee that this might continue to drop more which could make worries and panic among the holders. As to see, this was not a small correction but big investors have already triggered panic selling.

Bitcoin at present have been moving down to $23k. This is predicted to go even lower to that, because the market is experiencing major blow out of the hike in the interest rate to keep the inflation in control. The monetary system have failed to achieve what they've done and so the same have happened with bitcoin. In particular today the panic have increased alot among the common people, because the drop is big moving from $28k to price down to $23k.

[EdenHazard]

It is likely we are closing down to the bottom...
The market can't able to hold weak people, they are now selling huge amounts making the market crash badly. Kinda be surprising as many accumulate in the market above $25k but for now, Bitcoin had fallen to $23k (at this post). I foresee that this might continue to drop more which could make worries and panic among the holders. As to see, this was not a small correction but big investors have already triggered panic selling.

Bitcoin at present have been moving down to $23k. This is predicted to go even lower to that, because the market is experiencing major blow out of the hike in the interest rate to keep the inflation in control. The monetary system have failed to achieve what they've done and so the same have happened with bitcoin. In particular today the panic have increased alot among the common people, because the drop is big moving from $28k to price down to $23k.

We can never predicted this free market accurately.

But hey yeah we have got the bigger picture on how the crash will come after us and it did happened now.
The bear market has been here for a couple months and we are indeed failed to break the 32k level for many attempts during these months.
Here we are continuing the drop more to crash deeper than below $20k ?

[Welsh]

6-7% drop is not so much something we should freak out.. right?
Some have cashed in, some speculated the NY situation... I don't find the situation that bad...

Let's see what happens before the week-end comes. If the price continues the downtrend, then may become something to worry, but imho we're not there yet.

I'm sure if we ran a survey now, we'd have some pretty contrasting opinions. A lot of people feel like they missed out on the lower prices of Bitcoin, yet this is a pretty nice entry point in my opinion. Thus, the survey would likely show those panicking, and losing faith in Bitcoin, and those that are hunkering down, and buying Bitcoin at prices they deem good.

If you're in Bitcoin for the long run, then this might just be the encouragement you need to acquire some more. I'm personally enjoying the; what I would speculate a temporary blip, to basically earn what I would be earning anyway, but simply getting more Bitcoin for my buck.

But, no. Knowing how volatile Bitcoin is, even a 20% drop wouldn't exactly kick the ol' anxiety into overdrive. Just part of using Bitcoin in its current state.