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

[UserU]

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.

Funny that people often advocate for Bitcoin as an asset free from government and market manipulation, yet we're seeing the total opposite

[indah rezqi]

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.

I also expect $20K to be strong support, however a drop to lower support is also likely to be expected.
Now it's worth holding on and don't panic, take some more honey in weak hands and let's see what happens after. I'll try to do the accumulation as best I can, this seems like the right time.

[jayce]

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.

Funny that people often advocate for Bitcoin as an asset free from government and market manipulation, yet we're seeing the total opposite

For some point yes, though we could also see government banning bitcoin, and yet their people still can own and use it

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.

Usually we will wait the bottom price to buy bitcoin, but when it reaches the line, we are now in doubt and wondering if the price can be lower, and while we are waiting to take the right decision, its price bounces up and we are already too late to hop in.

[Durabolin]

In my opinion, the reason bitcoin is not in a very good position is because of the western countries.  If Bitcoin price is in a pumping position one week, the very next week, its horizon moves to a dumping position.  Especially the Western countries are holding Bitcoin.  But I think it should be put on hold for now.

[Accardo]

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.

I also expect $20K to be strong support, however a drop to lower support is also likely to be expected.
Now it's worth holding on and don't panic, take some more honey in weak hands and let's see what happens after. I'll try to do the accumulation as best I can, this seems like the right time.

It's a good time for the accumulators and tough moment for those who have accumulated. I feel bad seeing my assets dropping real quick, though I know it'll bounce back to normal, but I may not be convinced to accumulate now. Looking at the fast paced drop in price, bitcoin would go below 18k like before, then accumulation would be a better idea to balance losses. Lots of users would sell during this period and it'll affect the price negatively. Hoping to see a bounce back soon.

[Nrcewker]

Oh, finally a time to buy!

Thanks... Silvergate?

Yes thank God, someone finally thought the best of the current situation. Everyone I see, are panicking due to the price drop. I mean it’s obvious that the price will sometimes go up, and sometimes down. But instead of utilising the time, many are complaining. Currently Bitcoins are available in the best price. So without wasting for better moment, I would suggest everyone to buy as many coins as they can. Buy it now and hold for few weeks, then sell the coins when the price recovered. And at last don’t be tensed always with the price.

[LogitechMouse]

After FTX, we now have Silvergate as the first to do it this year.

I'm laughing on how the people are reacting with this kind of events. There are some who are worrying about what happened. There are some like me who are just sitting here and doing nothing and TBH, I'm not looking at the crypto charts for I think around 3-4 days already and there's some who's also like me that are taking this opportunity to buy more Bitcoin now that it's on sale "again".

After what happened, I wonder how will Bitcoin end the week. Will it finish the week below $20,000, or we might see a rebound towards Bitcoin's price. If you don't have spare cash, just do nothing for now. Sometimes, doing nothing is better than doing something.

[michellee]

Bitcoin downturns are a good time to buy as much bitcoin as possible, but we also have to remember that we buy what we can afford. Do not use the money for daily needs because it can make it difficult for you to survive.

Right now, we have more discounts on buying bitcoins and while we still have the chance, we must use it before it's too late. Don't wait any longer to buy because you won't know when the price will get a reversal. And after touching $19k, the price started to increase again and now bitcoin is back at $20k. But we must be vigilant because bitcoin can return to low prices again.

[OgNasty]

Oh, finally a time to buy!

Thanks... Silvergate?

I’ve been saying this will be the last dip to buy, but I’ll admit I’m a little concerned about the state of global investments right now. It looks like if we are due for a massive recession, it has begun. Now is the scary part where we wait for the government to realize we’ve overcorrected and they’ll need to apply stimulus to save people. So it’s all eyes on policymakers which with Biden in office trying to double people’s taxes overnight is a scary situation.

[MoonOfLife]

Oh, finally a time to buy!

Thanks... Silvergate?

Yes thank God, someone finally thought the best of the current situation. Everyone I see, are panicking due to the price drop. I mean it’s obvious that the price will sometimes go up, and sometimes down. But instead of utilising the time, many are complaining. Currently Bitcoins are available in the best price. So without wasting for better moment, I would suggest everyone to buy as many coins as they can. Buy it now and hold for few weeks, then sell the coins when the price recovered. And at last don’t be tensed always with the price.

Why sell it after a few weeks and not hold it until the new bull season? Speculation in the short term will not bring high returns and is too risky. What if this is the last drop, and bitcoin will never drop in price again? If you have the opportunity to buy now, hold until the bull season comes to make more profit.

[fadhilz123]

In my opinion, the reason bitcoin is not in a very good position is because of the western countries.  If Bitcoin price is in a pumping position one week, the very next week, its horizon moves to a dumping position.  Especially the Western countries are holding Bitcoin.  But I think it should be put on hold for now.

Why do you think that it should be postponed for now? Do you have a strong and clear reason for the need to delay the pump on Bitcoin?
Because I don't think that the decline in the price of Bitcoin was caused by western countries holding Bitcoin, because those holding Bitcoin are people who understand Bitcoin and the Bitcoin market, not on the part of the state.

So you also don't have to accuse western countries in this matter because Bitcoin is owned and held by every individual even though currently there are also a small number of countries that hold Bitcoin, but I don't think it is in western countries.

[makishart]

In my opinion, the reason bitcoin is not in a very good position is because of the western countries.  If Bitcoin price is in a pumping position one week, the very next week, its horizon moves to a dumping position.  Especially the Western countries are holding Bitcoin.  But I think it should be put on hold for now.

I thought that if it's not always about good or bad position. Your analyzation didn't matter when it comes to the bad fundamental that faces by bitcoin.

I think that the recent dump happened bitcoin has been triggered due to the latest news that came from US.

US Government law enforcement transferred 49,000 Bitcoin seized from the Silk Road crime proceeds to Coinbase.
Blockchain security firm PeckShield identified that the Bitcoin was seized by the US government in November 2021 and March 2022.

The bitcoin price will be continuously dumped. It's not all of bitcoin seized from silk road already dumped. The remaining bitcoins are still storing in the wallet that is owned by US government law enforcement. I expect you will be seeing another massive dump to come.

The news related to the mtgox payment is also following it. If the creditors will choose to be paid with bitcoin and i expect the dump gonna be for long term.

[pooya87]

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

This makes no sense. If the end of tax year is in December then why would anybody sell their coins today (in March)? Besides google tells me that different countries using different months for start and end of their tax year. US uses Jan to Dec while UK uses April (5 to 6) and so on.

middle east, asia

The correct term is West and East Asia.

[jaberwock]

I’ve been saying this will be the last dip to buy, but I’ll admit I’m a little concerned about the state of global investments right now. It looks like if we are due for a massive recession, it has begun. Now is the scary part where we wait for the government to realize we’ve overcorrected and they’ll need to apply stimulus to save people. So it’s all eyes on policymakers which with Biden in office trying to double people’s taxes overnight is a scary situation.

I think recession is not that bad for bitcoin at all, in fact that could be a reason why it could go up. Now you may ask why would recession make it go up, well in most cases recession means that big companies, or in general lets say "the ones with money" will not invest back into their business, amazon won't open another warehouse, tesla won't open another factory, and so forth, and in that case it means that we are going to see them invest differently, could be keeping their cash, or invest into banks, or whatever else, and bitcoin is one of those things, it's an asset to hold and I think since they can't make money from other things, they may put some of it on bitcoin. Well, at least hopefully.

[Mozzart]

Every time the price of bitcoin drops sharply people are divided into two categories: those who regret not selling and those who will buy at a discount. And as practice shows everything will be restored but the most patient will be in profit.

[crzy]

The support level has been broke, and its time now for a down trend which I think a chance to go lower than $19k if worst will continue to happen. This is predicted already the moment we miss the chance for a breakout, well this is how the market works and its up to you on how you will react on this kind of trend. Its a good time now to accumulate, but for now better to wait for the real bottom instead of catching the fallen price.

[cryptomaniac_xxx]

Let's see though if we are going to see another bottom or now, although there's still that chance since it's too early for this year and technically we are in a bear market still in the middle of it.

Nevertheless, the price going down from $24k-$19k might be a good thing because we can still buy it during this dip.

Cautions though for those who are waiting for the bottom, I think it's better to do DCA than waiting for that last chance to happen before the bull run.

[Ryu_Ar1]

Recessionary conditions that are getting stronger and stronger are making a real impact even for bitcoin right now.
$20K which is likely to be even more I think in this case becomes a few news options because there will be those who say this is bad news and those who say this is good news.
I think with this condition we have to wait further for bitcoin to return to the starting position and of course it is time for us to be ready to buy now

[Joshapat]

About 17 hours ago the price was around $19800 and now it's back to $20240, of course this is a good sign that investors are waiting to buy cheap, it can be seen that if the price drops then the transaction volume increases almost 150% from the previous day, there is always a chance to see the price rising again and doesn't make me panic when the price falls.

[TravelMug]

About 17 hours ago the price was around $19800 and now it's back to $20240, of course this is a good sign that investors are waiting to buy cheap, it can be seen that if the price drops then the transaction volume increases almost 150% from the previous day, there is always a chance to see the price rising again and doesn't make me panic when the price falls.

And it's back to $20,400-$20,500, fluctuating around this price, so we have a round of more than 2% this weekend and I think that is a good numbers already. Yeah, no need to panic, I mean sooner or later we will have to bounce back again.

So let's just be positive that we will continue to have a recovery phase at the start of the week.

Maybe the news on the Biden taxing crypto miners has subsided already and investors are willing to buy again.