Bear Market Reaches $27605 - Will the Downtrend Continue?"

[justdimin]

Don't forget that we're not out of the bear season yet, even if bitcoin crosses $30,000, so it shouldn't be surprising to see a correction or a major decline. Let's not be too subjective and believe that bitcoin will never plummet again, the bear season is not over yet, plus the economic situation is still tough, anything can happen.
If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.

I think bear season is not something like that at all. I mean we are "out" of bear season as soon as it stops going down, if you think that just because we are under ATH that means we are in the bear season then you do not understand what bear means at all. There isn't just bull vs bear and nothing else in between, that's not how it works, we are not in the bull season neither that much is 100% true.

I think we are in a situation where we are going to end up with just stagnant stage at this point. Bear is when price goes down, that's how it works, so if it goes above 30k then it means it is not in the bear season, and since we moved from 16k to these prices, we are already not in the bear season, as long as the price doesn't drop, that means we are not in the bear season.

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[Kadal Ijo]

Today the market dropped again almost 4% and is at a price of $ 26k, it looks like the downtrend is still continuing in the current month, maybe you need something big, for example direct adoption from the company so that the demand for bitcoin continues to increase, we'll see if in May the price can still be above $25k or not because the challenges right now are huge.

[DanWalker]

Don't forget that we're not out of the bear season yet, even if bitcoin crosses $30,000, so it shouldn't be surprising to see a correction or a major decline. Let's not be too subjective and believe that bitcoin will never plummet again, the bear season is not over yet, plus the economic situation is still tough, anything can happen.
If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.

Bearish indeed continues and this time the price of bitcoin entered the $26,900 area.
This correction occurred because a lot of bad news or FUD approached Bitcoin so market prices were greatly affected.

As in the case of the SilkRoad Bitcoin seizure held by the US government and after all this time the US government finally decided to sell 41,500 BTC and this resulted in a market panic.



Price drops like this must certainly be dealt with calmly, and make sure you have spare money to buy gradually when the price drops deep enough.

I've been keeping track of the market for the past few days. At first, I wasn't bothered by the fall; it's normal to experience such fluctuations. However, there's a massive difference between a small correction and a $4,000 fall in just a few days. Something has to justify it; it doesn't happen without a specific reason. The combination of the excessive number of transactions, which resulted in extravagant fees, and what you mentioned—almost $300 million worth of BTC was sold, provided that it was accurate information—has led to this market crash.

Personally, I don't really mind since I'm not actively trading or planning to sell Bitcoin anytime soon; on the contrary, I'm going to receive more BTC now. I was just a little frustrated. Moreover, I've been wanting to acquire some BNB for quite a while, and this seems like the perfect opportunity to do so.

There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.

As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.

BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.

[darewaller]

The more such corrections, the faster we can reach a fast rally. Of course, there have been and will be such corrections in every period. The important thing is to organize our investment accordingly. What price do we expect and at what price do we want to buy? Sometimes we can't get the level we want, but according to the estimation of many, when the bull season comes 1 year later, our investment should be ready for the bulls. It goes up and down more these days. You shouldn't be stuck with them. We have to get used to these falls. What matters is how many bitcoins we have.

Correction only delays the rally because we will need to recover that lost price first before we start to rise again. Yes corrections are normal but there are times that it won't occur especially if there is a bull run event that is going to happen. Being organized is important so that you will not feel pressured and you will know how to respond in different market situations.

We can get on the level that we want as long as we stay to be realistic. There are different guesses if when will the bull run comes. Some says next year or in 2025 but there are more people who believe that it will start within this year. For those who invest early, they are now ready for it.

[Ultegra134]

There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.

As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.

BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.

The market is way more complicated than demand and supply. Corrections do happen occasionally, but sometimes they might be triggered by an event; in this case, it's possible that the sale of the confiscated bitcoin triggered the fall. Certainly, I'm not expecting the market to always have an upward movement; that would be unrealistic. Personally, as I mentioned earlier, I don't mind such corrections since I'll be receiving a higher amount of BTC, while this time I decided to take advantage of the lower prices and purchase some BNB. It does rely heavily on Binance, but it's the largest exchange in the world. I don't see much of a reason to worry; if something unfortunate happens to Binance, the cryptocurrency world will rapidly change for the worse. On the other hand, compared to yesterday, the situation has slightly improved, but personally

[pixie85]

So, let's begin with the fact that government selling of bitcoin is FUD and people repeating this around the forum should be ashamed.

Really guys, are you so scared of the gov sales? They will happen at some point, but maybe the coins will be sold OTC, on auction. What if a whale decides to sell? It's all redistribution of bitcoin from large holders to small holders. It's been happening for years and it's going to keep happening as price goes up.

It doesn't matter since there's a limited number of bitcoin in circulation and there's not enough of it even for all millionaires in the world to hold 1.
It seems we need that last little bit of panic, for people who bought thinking the bear market is over to get scared and sell, just like in 2019.

[Nrcewker]

Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.

[Jating]

Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.

Perhaps he thinks that the price can go parabolic or continue with it rise to $30k or even higher. However, we all know how volatile the market is, and it's hard to really predict where the market is going to be even though we uses technical analysis.

So now we already at $26,800. It is time to panic? I don't think so, we still have the next big support at $25k. On the other hand, this kind of drops could be good for us in the long run. I mean when there is a correction, it's going to be healthy as there could be more investors that can enter at this price or this is a good entry level for them.

[taufik123]

-snip-
and what you mentioned—almost $300 million worth of BTC was sold, provided that it was accurate information—has led to this market crash.

Sales actually started on March 14, 2023, with an amount of 9,861 BTC.
and will be carried out in 5 batches throughout 2023, and there are 4 batches left with an amount of 41,490.72 BTC.
of course, this plan will disrupt the market throughout 2023.


source: https://watcher.guru/news/us-government-to-sell-41500-bitcoin-1-18-billion-connected-to-silk-road

Personally, I don't really mind since I'm not actively trading or planning to sell Bitcoin anytime soon; on the contrary, I'm going to receive more BTC now. I was just a little frustrated. Moreover, I've been wanting to acquire some BNB for quite a while, and this seems like the perfect opportunity to do so.

If you are not bothered then you just need to relax and prepare your Fiat to buy Bitcoin even cheaper.
You will get more coins at a low price and hold them for the long term.
If you want to hold BNB there is also no harm at this time, altcoin prices will get cheaper if Bitcoin goes down.

[salad daging]

So, let's begin with the fact that government selling of bitcoin is FUD and people repeating this around the forum should be ashamed.

Because the US government will sell the recovered thousands of bitcoins, of course it will be FUD and make them panic, but you have to realize that all of them have different batches of sales, not all at once.

Really guys, are you so scared of the gov sales? They will happen at some point, but maybe the coins will be sold OTC, on auction. What if a whale decides to sell? It's all redistribution of bitcoin from large holders to small holders. It's been happening for years and it's going to keep happening as price goes up.

Those who have believed should not be afraid of what the government is doing. It won't affect the market into a big crash at all, but with some corrections happening, I think that's very reasonable, if they can take advantage then it's a good moment for us to add back its accumulation.
Regarding whales, it is still difficult to predict whether they will follow the government's steps or will actually go against the direction, but the role of the whales will continue to strive for the price of bitcoin to rise even more.

Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.

If there is negative news then we don't need to panic, bitcoin will still have a different value from the others, if this month crashes then the next month can be green because of increased demand, but as investors they must be able to survive in any condition regardless of the FUD that will never disappear from its negative role.
Stay calm, try to use it in a crash condition.

[Silberman]

Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.

Perhaps he thinks that the price can go parabolic or continue with it rise to $30k or even higher. However, we all know how volatile the market is, and it's hard to really predict where the market is going to be even though we uses technical analysis.

So now we already at $26,800. It is time to panic? I don't think so, we still have the next big support at $25k. On the other hand, this kind of drops could be good for us in the long run. I mean when there is a correction, it's going to be healthy as there could be more investors that can enter at this price or this is a good entry level for them.

While the investors that have recently come to this market and invested in it are probably nervous due to the current drop we are seeing, at the same time this is an invaluable opportunity, it seems unlikely to me that we are going to reach a price below 25k, so the current price allows us to buy bitcoin at what it is close to the lowest price we can reach during May, also when we think about it the next bull run of bitcoin will probably push the price above 100k so the current drop is not significant on the big scheme of things.

[bittraffic]

Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.

Perhaps he thinks that the price can go parabolic or continue with it rise to $30k or even higher. However, we all know how volatile the market is, and it's hard to really predict where the market is going to be even though we uses technical analysis.

So now we already at $26,800. It is time to panic? I don't think so, we still have the next big support at $25k. On the other hand, this kind of drops could be good for us in the long run. I mean when there is a correction, it's going to be healthy as there could be more investors that can enter at this price or this is a good entry level for them.

While the investors that have recently come to this market and invested in it are probably nervous due to the current drop we are seeing, at the same time this is an invaluable opportunity, it seems unlikely to me that we are going to reach a price below 25k, so the current price allows us to buy bitcoin at what it is close to the lowest price we can reach during May, also when we think about it the next bull run of bitcoin will probably push the price above 100k so the current drop is not significant on the big scheme of things.

We did hit $25840 for a brief moment, it's the lowest so far and the market may retest that lowest support line next week. It could be the last attempt before going up again. It's possible so prepare for it. What a trader should do I think is just avoid being liquidated in betting a bull in the futures market.

News to blame was said to be the debt ceiling crisis that is to be decided by officials. Markets going to be crazy.

[DanWalker]

There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.

As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.

BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.

~snip~
 It does rely heavily on Binance, but it's the largest exchange in the world. I don't see much of a reason to worry; if something unfortunate happens to Binance, the cryptocurrency world will rapidly change for the worse. On the other hand, compared to yesterday, the situation has slightly improved, but personally

I am not saying that Binance will collapse, but instead think of Binance losing its breath and losing its top spot to another exchange. Maybe your BNB investment won't make you lose, but it will disappoint you by not yielding the expected return. What I worry about for BNB is that it is too dependent on Binance, while we can see Binance and CZ are having a lot of legal problems, and that makes me really worried for the future of BNB. I used to put a lot of faith in BNB too, I believe it can be like ETH but I am gradually limiting my investment in it due to their recent difficulties. Anyway, this is just my opinion and I know everyone has different investment vision.

[michellee]

And now the price is still at $ 26k and close to $ 27k. Let's hope that next week, the price will make it to $27k or even more. But even though next week the Bitcoin market will still experience a decline, that's also okay because it is good for us.

Wise investors know what they have to do because they already have many plans that they can do related to the situation that occurs in the market. And we as small investors, can also keep hoping that recovery will come soon so that we will see that our losses now can turn into profits.

And when there is a rebound in the Bitcoin market, we have the option to sell it and take profit at that time or keep holding the bitcoin until it can exceed the last ATH? If we want to sell bitcoin at the next ATH, we don't need to worry if this downward trend continues because it is an advantage for us. After all, we can buy at a low price.

[DeathAngel]

We’re probably at a real decisive point in this cycle. Are we transitioning into a new bull market as we now have less than 12 months to the next halving or are we still lingering in the last months of the bear market. Seems we had a sweep of below 26k & bounced a bit. Will be really interesting to see what happens in the next couple of weeks. Hopefully we can break 30k & stay above it in the second half of 2023.

[Ultegra134]

There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.

As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.

BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.

~snip~
 It does rely heavily on Binance, but it's the largest exchange in the world. I don't see much of a reason to worry; if something unfortunate happens to Binance, the cryptocurrency world will rapidly change for the worse. On the other hand, compared to yesterday, the situation has slightly improved, but personally

I am not saying that Binance will collapse, but instead think of Binance losing its breath and losing its top spot to another exchange. Maybe your BNB investment won't make you lose, but it will disappoint you by not yielding the expected return. What I worry about for BNB is that it is too dependent on Binance, while we can see Binance and CZ are having a lot of legal problems, and that makes me really worried for the future of BNB. I used to put a lot of faith in BNB too, I believe it can be like ETH but I am gradually limiting my investment in it due to their recent difficulties. Anyway, this is just my opinion and I know everyone has different investment vision.

I understand your point of view; I was also skeptical at first because BNB is extremely dependent on a centralized exchange. However, I don't think it will collapse either; it's the largest and most important exchange there. However, I also find it hard to believe that it'll lose its reputation and validation anytime soon; something extremely unfortunate needs to happen in order to ruin its validity. Don't forget that it's the exchange with the largest transaction volume, responsible for more than 1/3 of the total transactions. With that being said, I find it unlikely for Binance (BNB) to perform poorly; it wouldn't make sense, not only because it stems from a huge exchange but also because it is being featured in one of the most important blockchains.

[Wend]

Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.

Not everyone in the market has as much knowledge as you, so there is no need to be too strict with them. Sometimes they're newbies who haven't been through the bear season yet, so it's normal for them to panic.
But as you said, relax and have fun every time the market drops because that's our chance, not something bad is happening. That is the difference between a successful investor and a failed investor. I mean, the people who make the most profits mostly keep quiet and focus on buying every time the price drops rather than panicking and whining all over the place.

[Rasa nanas]

Today the market dropped again almost 4% and is at a price of $ 26k, it looks like the downtrend is still continuing in the current month, maybe you need something big, for example direct adoption from the company so that the demand for bitcoin continues to increase, we'll see if in May the price can still be above $25k or not because the challenges right now are huge.

I believe the bitcoin price can hold above $25k, although dropping below $25k may only be temporary. I think this is not a downtrend problem but because so far bitcoin has failed to penetrate the resistance, which is $30k, which causes some people to be pessimistic that bitcoin can penetrate $30k. I'm sure that in the future price spikes will occur again and let's see whether bitcoin is able to penetrate $ 30k or fail for the umpteenth time.

[fzkto]

We’re probably at a real decisive point in this cycle. Are we transitioning into a new bull market as we now have less than 12 months to the next halving or are we still lingering in the last months of the bear market. Seems we had a sweep of below 26k & bounced a bit. Will be really interesting to see what happens in the next couple of weeks. Hopefully we can break 30k & stay above it in the second half of 2023.

The bear market ended in 2022 when bitcoin was at 15k. We have been in an uptrend for almost five months now. Now there has been a correction, as there have been several times this year. But it is wrong to call it a bear market and a trend change. Bitcoin is still almost twice as expensive as it was last November. There is no growth without corrections and that is normal.

[Baoo]

In my opinion, this current bear run will continue and it might completely end within 1-2 weeks. Although , it is really tough to speculate the exact date of next bull market and according to this recent market condition, it is really far to be achieved.  Regarding Bitcoin price, I highly doubt if it will hit $30k in this month for the reason  that the whole market is dominated by the whales, they won’t let the value rises notably. Correspondingly , we should take this opportunity intelligently due to the price is affordable. The more we purchase during this tough period, the larger returns in middle and long term. However, it is really important to buy fractionally ( in parts ) in case you have cash or amount of stable coin due to the price may goes down significantly.