What's happening With Bitcoin?

[davis196]

The crypto winter is going to make many crypto projects go bankrupt, even though some of them are pure scams and others are semi-legit.
Celsius Network is going down the hill and this helps for increasing the level of panic on the crypto markets, since many investors are going to lose their precious coins.
Luna collapsed, the Bitcoin price went from 40K to 30K.
Celsius is about to collapse, the BTC price went from 30K to 23K and it might drop below 20K.
Is this a coincidence? I don't think so.
Who is next? Tether? Coinbase?
I'm still bullish in the long term(which means 2 years ahead). The crypto industry will get rid of many centralized "too good to be true" crypto projects, which is definitely a good thing. The problem is that all those projects helped for pumping the crypto prices. Who is going to pump the prices in 2024-2025?

[1715104450]

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[sumant]

Any market has up and downs in their circulating period. In 2018 market was dumped and bitcoin goes 3k something after that recovery happened. These dumped are very common in crypto industry thats why it is very important to not take entry at any time. Market will go up as holders increases with their btc. We hope that btc will recover very fast. All altcoins will also be in momentum when everything will be stable.

[rodskee]

Ignores all the dumps focus only on the pumps

Closing our eyes sometimes is worth doing because we are mostly affected of the news and the market movement that we are seeing but not interested in many things that will favor us.

Like buying when the price is dumping? or at least trying to make  different approach from your investment like Diversifying in more different currencies that we are not doing nowadays.

[coolcoinz]

I also did not expect 20k to happen without a bounce back. This is a good example of why we shouldn't look for similarities in the cycles. In 2018 we had plenty of bounces in the bear market.
It's actually very strange that they are able to crash the price so much after such a week bull run. Every time I see this and I've seen it at least once each year, it amazes me that when price falls by 60% or 70% there are still people willing to sell at a loss.

[Mr.sprin]

What is clear is that the current bitcoin price is going down, basically the bitcoin price is unstable, it can go up or down. smartly read the market, then you will take profit, for example like now the price of bitcoin is going down, so this is a good opportunity to invest in bitcoin because in the future the price of bitcoin will definitely recover.

[Iadegbola34]

We will continue to experience bear cycles as long as there are panic sellers who invests only for the short term profit. Those paper hands do not care for the long term purpose of being a bitcoin holder and as such they tend to panic when price goes below their entry. Then, what seems to be just a little price regression becomes long bear market condition.

[Marvell1]

Bitcoin is very volatile this is a characteristic of bitcoin, so a sharp drop in price is normal. As someone who went through 2018, I dare to assure you that after the end of the bearish cycle, bitcoin will bounce back and even surpass the old ATH and reach the new ATH in the next bull cycle. You don't have to panic and sell everything, the rewards will be given to those who trust and hold bitcoin.

[Botnake]

We're inside the cycle. Inflation do come and it's also part of it and that's because people will find a way to hedge against it and the perfect asset for it is bitcoin.

Buying with DCA way during this massive dump would be the best choice.

I agree and whether DCA or not, as long as you take the moment to buy on this very dip, you're just doing the right thing. It's a wise choice to buy when you've seen that we're likely at the bottom.

Yes, take this situation as an advantage to buy bitcoins while it's still cheap and other coins too at a lower price as we don't know if this is the very rock bottom because their volatile. Just ignore the declinations of these prices and make this to your advantage. I'm not shocked because the market is declining because I expected that there would be many investors who would sell their bitcoins because of the current situation, seems like they're not that ready to commit for long term.

[Dunamisx]

I know almost all veteran members understand what's happening in the market. But, newbies like me still trying to figure out what's happening and the possible reason why it's happening.

There's nothing much happening now than bitcoin which is the major most recognized digital currency is undergoing a persistent fall in price due to the volatility move and this is cause by the demand and supply for bitcoin, running volatile does not mean bitcoin is loosing value when it price falls and what needed to be clear here is that in cryptocurrency, bitcoin is the most recognized currency used for exchange other than other ones which most of them happens to be shitcoins.

[AliKhan5544]

Pumps and dumps are the part of trading.A wise man buy in dumps and at rigt time sell at hype.

[Hamphser]

Pumps and dumps are the part of trading.A wise man buy in dumps and at rigt time sell at hype.

Be Fearful When Others Are Greedy
‘Be greedy when others are fearful’

This line is always on my mind whenever i do tend to make some action in regarding with my trading on which making yourself to be that
greedy into those times where market is declining but this isnt something easy to tell into yourself in the actual situation.
We are just humans and on the times these are happening then you would really be still having those doubts on taking such action.

[minime0105]

What's happening now is no big deal. It has happened before and will continue to happen that is why it is called volatility. As a smart investor this is the right time to buy more and fill up your bag while waiting for the bull run. People panic selling would cry later.

Bitcoin don't have to be stagnant in value, what happened in the cryptocurrency is that the value never be dependent, bitcoin regulations is like a market that have no trust of values. Bull market can only come when the time of cryptocurrency market is due, every one is shouting and start building untrustworthy of bitcoin because of it's crash for values over some months.

[dlightag]

This normal showing how demand and supply are playing around the market, which many people are selling off out of fear, And Bitcoin is a good position feed up your bag and buy more, sooner or later Bull run we start and opportunity is open currently open.

[TimeTeller]

This normal showing how demand and supply are playing around the market, which many people are selling off out of fear, And Bitcoin is a good position feed up your bag and buy more, sooner or later Bull run we start and opportunity is open currently open.

The simple reason is supply and demand but for a newcomer like OP,
would be hard to grasp what factors are in play how this market behaves.
As even experts can't identify the causes of this movement, we just based it from the current news.
News that may possibly drive the movement because of how the people react towards the news.

[Leviathan.007]

I Don't think there is anything wrong with bitcoin that you are talking about. Sometimes the market is bluish for days or months and sometimes it's bearish for more or a few months, that's just part of the market and we cannot complain about the situation or the price. If you saw the price situation during the last bearish phase in 2018 you can understand sometimes we should expect to see this situation however maybe the current situation is worst than in 2018 but at least it giving us some discount to buy more bitcoins at a cheaper price.

[Victorik]

It came to me as a ride shock when I saw the price of BTC at about $20k, and ETH at $1100.
And one major factor responsible for this downward trend is fear of the unknown. People are scared, and selling off their assets.
Moreso, the dumps is healthy for the Industry. If there were no dumps, then we should be worried.

[LogitechMouse]

You mean the $20,000 price? Some including me see's that price as long term support as it has been the resistance since 2017-2018 and when it broke that price and shoots up, it became the new support.
If you are here last 2018, you will see what is happening right now as a normal event.
It happened in 2018, and it happened again this year, 2022. It's a cycle.

No need to panic because market cycles tend to happen with any market. The best thing to do right now is to continue dollar-cost average because in the long run, you will still gain profit. If you continue to buy since 2018 when the market is down, you will see that your money is more than 10x (depending on what price you sell). I'm not saying that it will happen again in the future, but whatever goes down goes up as well, and it will go higher than the previous one.

Continue to Dollar-Cost Average, don't panic and be patient because patient people are the ones who are getting the most profit (aside from those who accumulated during the bear market).

[Franctoshi]

This is called the greatest shakeout of weak hands because we're heading into a new digital economy (Bitcoin and cryptocurrency) and tokenization of so many things.
It is also custom and tradion of the market, change your mind set on how you see the market and see it as biggest opportunity looking at you for grab to at least a $100k BTC in the future.

[breathlessz]

This normal showing how demand and supply are playing around the market, which many people are selling off out of fear, And Bitcoin is a good position feed up your bag and buy more, sooner or later Bull run we start and opportunity is open currently open.

The simple reason is supply and demand but for a newcomer like OP,
would be hard to grasp what factors are in play how this market behaves.
As even experts can't identify the causes of this movement, we just based it from the current news.
News that may possibly drive the movement because of how the people react towards the news.

FUD that continues to appear extends the bearish season, so the price continues to decline due to continuous selling, but we can use this as an opportunity to invest at a low price, so we just have to wait for the bullish season to come. this has indeed become a common behavior that occurs in the crypto world, and previously 4 years of waiting for a bull market to come

[Zlantann]

Many Bitcoiners predicted that the price would not go below $30,000 but currently we are seeing the opposite. As a new investor I am always observing the price movements and today have been quit better because Bitcoin is strongly maintaining the $21,000 mark. This community have been my source of encouragement and hope. There have been a general belief that it has happened before and it is just happening again. And if Bitcoin survived and came out stronger after the first challenge then it would still overcome this current one. And I strongly believe this prediction because Bitcoin I believe is worth investing on.  I think I would just try to stay away from my wallet and still invest more of my spare income.