bitcoin fall below $20000 , it's a messy thread.

[cafter]

https://imgur.com/a/ThcdvWN
when i trade for short term this type of dramatic big red and green candles give me so thrilling experience,(when the trade is going in my way also in opposite and also when i m not in that trade   )
many of you who trade experienced it no? it's also like gambling thrill but here we can control our loses in gambling all our funds are at risk. for fun and entertainment trading is boring because we need to wait for patterns.
what are your thoughts is it good news : bitcoin dropped below $20000 , or bad news
for me it's good news(not news, event) because i can accumulate more on discount .
oh, it became messy thread, no worry(why you will worry) you can reply by quoting lines.
my bad english ignore.

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[un_rank]

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[UserU]

Oh, finally a time to buy!

Thanks... Silvergate?

[pooya87]

It is both a good news and a bad news at the same time

As I've said before, the world economy specially in the West is getting worse every day and we see its effects in bitcoin price also. The bad news is that the recession is getting worse which has been putting pressure on bitcoin price, pushing it down. It is also not going to get any better any time soon.

The good news is that the effects of it is becoming less and less, specially since bitcoin at the end of the day is still a hedge against inflation and we are also seeing inflation. Additionally bitcoin has the only market that is known for not having any correlations with any other market. This makes it an excellent choice at times of economical turmoil.

[crypticj]

I told you guys before and I will tell it again. Unfortunately, we are STILL expecting the bottom. If we will look at the inflation, what FED is saying, and the economic situation in general, it looks like something will break down soon. Everything is still kinda bad and it won't get any better until FED will start lowering rates.

So I still recommend everyone to not go all in on bitcoin or any crypto until we will see signals that the economy will get better from now on. DCA is still a good idea like always, but be careful when you choose at what price to start DCAing.

Be safe, bros.

[cafter]

The good news is that the effects of it is becoming less and less, specially since bitcoin at the end of the day is still a hedge against inflation and we are also seeing inflation. Additionally bitcoin has the only market that is known for not having any correlations with any other market. This makes it an excellent choice at times of economical turmoil.

maybe i am wrong,
but BTC corelated with USA Indexes like S&P 500,nasdaq,etc

BTC:
https://ibb.co/72XF7x6

Nasdaq:
https://ibb.co/jfmF2Jp


S&P 500:
https://ibb.co/F4ZYcqp

[EarnOnVictor]

What Bitcoin is facing now is the law of gravity, there is no way it would rise without retracing, but if it does this too much, a long-term bearish trend would be activated. The truth is that I have seen the coin on the bearish path since February, so what is doing now is not a surprise to me as I follow the trend of the market regardless of the noise attached to it.

As it is now, the $20k is a very good judgmental level, we've not had a successful break below it yet, but if we do, then a long-term sell might be activated.

[Gayong88]

what are your thoughts is it good news : bitcoin dropped below $20000 , or bad news

It's also called the market can go up or down Personally, I think the decline in the value of btc is good news. That's because a decrease in value would mean better earnings for the miners. Also, many people don't really like crypto because of its rising prices. It will be very cool to see what the future holds for cryptocurrencies and how their popularity continues to grow.

I want to share my opinion. I think Bitcoin is a pretty good idea, the currency, while volatile, tends to fall in value. This is because supply is steady, so the world is becoming increasingly cashless and trust in government-backed financial institutions is falling, it is likely that Bitcoin will be seen as a safer option.

[pooya87]

maybe i am wrong,
but BTC corelated with USA Indexes like S&P 500,nasdaq,etc

Apart from the panic sells that happen over the past 2-3 years from newbies who think there is a correlation, what you see is not a correlation between bitcoin and these indexes. It is a correlation between bitcoin and the global economy.

The best example is 2019 or the worse part of the ongoing pandemic. For example when US economy got dumpstered people started selling every asset they had hence crashing the stock market, one of the things they sold was also bitcoin hence crashing bitcoin also.
Interestingly enough when bitcoin started recovering early in 2019 and went up 330% in only 2 months all those other markets were still struggling to not-get dumped anymore. Ergo the lack of correlations.

Things are the same today. When the US inflation grows and they fight it by increasing the interest rate and fail to control inflation, it causes recession. In a recession people liquidate their assets. Bitcoin is not an exception.

[Marvell1]

I told you guys before and I will tell it again. Unfortunately, we are STILL expecting the bottom. If we will look at the inflation, what FED is saying, and the economic situation in general, it looks like something will break down soon. Everything is still kinda bad and it won't get any better until FED will start lowering rates.

So I still recommend everyone to not go all in on bitcoin or any crypto until we will see signals that the economy will get better from now on. DCA is still a good idea like always, but be careful when you choose at what price to start DCAing.

Be safe, bros.

If inflation starts to fall, they will stop raising interest rates but have no intention of lowering rates yet. I suspect a rate cut will only happen from mid-2024, and as you say, this year is still a good year to accumulate bitcoin.

Bitcoin has fallen by over 80%, so whether inflation continues to rise or lasts longer, DCA from this price level is the best fit. Although the world economy will not know where it will go, bitcoin always has surprises, so don't wait, let's collect it now. Don't get too greedy and expect bitcoin to drop to $10k, it's very unlikely.

[Fullcoinese]

what are your thoughts is it good news : bitcoin dropped below $20000 , or bad news
for me it's good news(not news, event) because i can accumulate more on discount .

for those who want to increase their Bitcoin in the bag, of course, a Bitcoin price drop is a good situation. for those who have started for the long term, it will not have any effect as long as the investment plan that is applied can still be held. some investors will also always buy a little when a bearish pattern occurs. it makes the assets they have will continue to grow.
but those who trade might be more careful with the Bitcoin downturn situation.

[d3nz]

Lots of speculation and FUDS all over the world, and of course taking advantage of the crypto market while in a dip is really good.

And I think that BTC will go collapse below $17k, Daily and Weekly timeframes really confuse us but still, it is an opportunity for us to hoard and buy while we can before the bull run runs again.

[KingsDen]

https://imgur.com/a/ThcdvWN
when i trade for short term this type of dramatic big red and green candles give me so thrilling experience,(when the trade is going in my way also in opposite and also when i m not in that trade   )
many of you who trade experienced it no? it's also like gambling thrill but here we can control our loses in gambling all our funds are at risk. for fun and entertainment trading is boring because we need to wait for patterns.
what are your thoughts is it good news : bitcoin dropped below $20000 , or bad news
for me it's good news(not news, event) because i can accumulate more on discount .
oh, it became messy thread, no worry(why you will worry) you can reply by quoting lines.
my bad english ignore.

To be honest with you. I am no longer comfortable with the movement of Bitcoin, although I already know that bitcoin is cyclical in nature, but most tmes I do not wish that it happens because we do not expect it when it happens.
It would have been fine if bitcoin had a strong support at $20000. Whatever cyclic movement it is making it should go above 20,000 and do not come below 20000 dollars. This will give us the resurging confidence to continue.

But any movement below 20000 dollars will create some panic that may pull the price below 15,000 dollars, which is not good for businesses and investments in cryptocurrency.
Yes, it's time to accumulate, but how about those that has accumulated and waiting for a rise.

[franky1]

maybe i am wrong,
but BTC corelated with USA Indexes like S&P 500,nasdaq,etc
BTC:
https://ibb.co/72XF7x6
Nasdaq:
https://ibb.co/jfmF2Jp
S&P 500:
https://ibb.co/F4ZYcqp

no
whats happening is all markets correlate with "end of tax year"

the tax effect of that end of year caused all markets to start with a fresh start entering into january

europe africa south america. middle east, asia all have tax tears ending at the end of december
so thats billions of people shuffling funds to end the year at the right valuations for tax purposes

[bettercrypto]

Oh, finally a time to buy!

Thanks... Silvergate?

Yes, it may be time to buy bitcoin now even in other altcoins such as Matic, Shib, Bnb, shibdao, and others.

     Then I noticed that op seems to have a deep knowledge of crypto trading, he has an idea and knows how to read a graph as well if I base it on the illustration he made here. And apart from the fall in the value of bitcoin, I don't think Silver gate is the reason because as far as I know they volunteered to be happy.

[franky1]

Oh, finally a time to buy!

Thanks... Silvergate?

 I don't think Silver gate is the reason because as far as I know they volunteered to be happy.

first we had the FTX contagion last year. then this week we have the silvergate/stablecoin contagion

there are some whales doing futures that want to keep the price at or above $20k so they will try to fight on spot markets to keep the price up around that area for a week to then end above $20k
but lets see how the futures whales can fight the silvergate contagion of spot markets vs futures bets

could be an interesting week

[coolcoinz]

https://imgur.com/a/ThcdvWN
when i trade for short term this type of dramatic big red and green candles give me so thrilling experience,(when the trade is going in my way also in opposite and also when i m not in that trade   )

Then either stop trading short-term, or learn to deal with it. Most traders get wrecked in this market because it's heavily manipulated and there are people with more money who just watch leveraged position to crush them and make a profit. They saw another hawkish FED move and a lot of uncertainty among traders because there was no trading volume last week, so they crashed it.
It doesn't matter for the long run because bear market is going to end next year with their manipulation, or without it, but for now there's nothing we can do about it.

many of you who trade experienced it no? it's also like gambling thrill but here we can control our loses in gambling all our funds are at risk.

I hold bitcoin for years and I don't feel any risk. It's going up at some point and whether I have to wait 2 months or 2 years doesn't matter.
The risk would be only if I was willing to sell it cheap out of fear.

[Ultegra134]

I told you guys before and I will tell it again. Unfortunately, we are STILL expecting the bottom. If we will look at the inflation, what FED is saying, and the economic situation in general, it looks like something will break down soon. Everything is still kinda bad and it won't get any better until FED will start lowering rates.

So I still recommend everyone to not go all in on bitcoin or any crypto until we will see signals that the economy will get better from now on. DCA is still a good idea like always, but be careful when you choose at what price to start DCAing.

Be safe, bros.

I just noticed that the market has crashed again; I hadn't bothered to check for over 3 to 4 days. I also supported your opinion until I saw Bitcoin trending at $25,000, thinking that it was unlikely but not impossible to go below $20,000 again, but I was certain that it wasn't over. Now, I'm positive that there's still a possibility to see a new bottom for Bitcoin. The economic situation hasn't gotten any better, and inflation is still soaring around the world. Whether we like it or not, we still have a long way to go before we can expect a possible recovery; one or two years is the bare minimum.

[jayce]

To be honest with you. I am no longer comfortable with the movement of Bitcoin, although I already know that bitcoin is cyclical in nature, but most tmes I do not wish that it happens because we do not expect it when it happens.
It would have been fine if bitcoin had a strong support at $20000. Whatever cyclic movement it is making it should go above 20,000 and do not come below 20000 dollars. This will give us the resurging confidence to continue.

But any movement below 20000 dollars will create some panic that may pull the price below 15,000 dollars, which is not good for businesses and investments in cryptocurrency.
Yes, it's time to accumulate, but how about those that has accumulated and waiting for a rise.

That what makes bitcoin is completely different from other kind of investments or assets, where you could gain profit overnight and lose its value in the next day. Obviously all of us want it to be more stable, but since there are no government nor foundation back its value, then no one can guarantee it but yourself. That's why we are expected to not invest all of our wealth to one asset only. Gold is always the best choice for a stable asset option.

[Pandji02]

Lots of speculation and FUDS all over the world, and of course taking advantage of the crypto market while in a dip is really good.

And I think that BTC will go collapse below $17k, Daily and Weekly timeframes really confuse us but still, it is an opportunity for us to hoard and buy while we can before the bull run runs again.

True, I'm waiting for the best moment to buy Bitcoin now, because I don't think it's gonna break $20K soon again. Don't want to miss on this opportunity.