The price dropping, any reason the huge dump?

[AmoreJaz]

The price of bitcoin is dropping just this afternoon with more than $2k from the opening of $31k today. The huge dump is still going on, so anybody knows what is happening with the dump?

Is this a sign to end the second quarter on a bear?

If bitcoin close on the bear for the month, what do you think with July and 3rd quarter?

$2k is not big we name it huge dump. above 31k was just testing flow of money and Bitcoin rejected from there which cause this sudden dump. we will see many time this kind of rise and fall and trader will try to break the support but if many time they couldn't then it will lead to $2k or more dump. as far as btc trade above 25k$ then no need to worry. we could see small panic in market but it will be recovered soon.

the OP may have not seen such large dump in the previous years, hence, he thought the decline of 2k is such a big deal for him. however, looking at the market today, we are again above 31k. so yeah, if someone bought when it was below 30k, he is already enjoying his profits. it may not be big, but volatility in this market is real where you can earn profits if you know when to buy and sell your coins. scalping is still alive if you are good at it.

[milewilda]

The price of bitcoin is dropping just this afternoon with more than $2k from the opening of $31k today. The huge dump is still going on, so anybody knows what is happening with the dump?

Is this a sign to end the second quarter on a bear?

If bitcoin close on the bear for the month, what do you think with July and 3rd quarter?

-$2k is a huge dump?

Seeing that you are already a Sr. member which you supposedly been wary about on how volatile this market is and having that 2k movement whether going up or down is already that a normal day here on this space,
or simply not that something for you to be shocked. Reason? It would be most likely be on fundamentals or news around on which it would really be not that shocking anymore that this crypto market is really that
most likely be having that kind of impact specially on economic related reasons on which most people is always keeping an eye with these events and applying it into their analysis.

How about with the current state or price we do have now? We are still sitting on 31k as of today and if the price would be hitting up 32k then i would say that panic buying would be starting on this point.
Unless if there would really be some huge sell out on this level or price point then we might be seeing 27-28 once again which its never been that something new. Expect the unexpected as always
because its always been like this.

[jossiel]

I still don't know the reason behind it but it seems our friends telling that it's because SEC releasing a statement about SEC should do it.

But no matter what again, Bitcoin easily recovers and goes back to $30k quickly. And even if there is no reason, it's normal to see these dumps every after bump that we see.

Then, we go from there and that news impact did a bit a lot but very short time.

SEC releasing statement about SEC? I think this was a typo but my guess it was Binance you're supposed to say there. It was still an old issue and I think it's not responsible for the recent decline that we feel. I never hear a negative news lately so I assume it's only a normal drop as you said. I think this is the correction that they are talking about.

Yeah a typo but it's still all about SEC. But wouldn't matter much now, we're back to a better price again.

Anyways, we are back again at $30k which should be our newest and strongest support excluding correction of course. Those who keep an eye of the dump and then buy quickly are lucky because they easily score a profit there. For those who are already HODLing, don't worry because your time will also come soon.

If this becomes a support, the confidence that I'm getting for long term is much better than when we're seeing it under $20k. It's much better that we're likely seeing how times is recovering for bitcoin.

And at the same time, we're getting closer to the halving time.

[Inspiron14]

The price of bitcoin is dropping just this afternoon with more than $2k from the opening of $31k today. The huge dump is still going on, so anybody knows what is happening with the dump?

Is this a sign to end the second quarter on a bear?

If bitcoin close on the bear for the month, what do you think with July and 3rd quarter?

$2k is not big we name it huge dump. above 31k was just testing flow of money and Bitcoin rejected from there which cause this sudden dump. we will see many time this kind of rise and fall and trader will try to break the support but if many time they couldn't then it will lead to $2k or more dump. as far as btc trade above 25k$ then no need to worry. we could see small panic in market but it will be recovered soon.

the OP may have not seen such large dump in the previous years, hence, he thought the decline of 2k is such a big deal for him. however, looking at the market today, we are again above 31k. so yeah, if someone bought when it was below 30k, he is already enjoying his profits. it may not be big, but volatility in this market is real where you can earn profits if you know when to buy and sell your coins. scalping is still alive if you are good at it.

Yes, with the high volatility of the crypto market, it allows us to make a profit if we can take advantage of it,
when the market goes down sometimes we are still waiting for it to go back down again which actually makes us miss a good moment to buy,
those with experience will be wiser in making decisions.

[Xampeuu]

The price of bitcoin is dropping just this afternoon with more than $2k from the opening of $31k today. The huge dump is still going on, so anybody knows what is happening with the dump?

Is this a sign to end the second quarter on a bear?

If bitcoin close on the bear for the month, what do you think with July and 3rd quarter?

$2k is not big we name it huge dump. above 31k was just testing flow of money and Bitcoin rejected from there which cause this sudden dump. we will see many time this kind of rise and fall and trader will try to break the support but if many time they couldn't then it will lead to $2k or more dump. as far as btc trade above 25k$ then no need to worry. we could see small panic in market but it will be recovered soon.

the OP may have not seen such large dump in the previous years, hence, he thought the decline of 2k is such a big deal for him. however, looking at the market today, we are again above 31k. so yeah, if someone bought when it was below 30k, he is already enjoying his profits. it may not be big, but volatility in this market is real where you can earn profits if you know when to buy and sell your coins. scalping is still alive if you are good at it.

Yes, with the high volatility of the crypto market, it allows us to make a profit if we can take advantage of it,
when the market goes down sometimes we are still waiting for it to go back down again which actually makes us miss a good moment to buy,
those with experience will be wiser in making decisions.

precisely for those who are experienced in taking advantage of this moment to seek big profits, this is not a big dump but high volatility, which is a pleasure for traders to take advantage of price fluctuations that occur. So do not be surprised if those who don't understand will feel panic because according to him this is a big decline. therefore understanding the characteristics of the bitcoin market is very important to keep our psychology stable

[Quidat]

The price of bitcoin is dropping just this afternoon with more than $2k from the opening of $31k today. The huge dump is still going on, so anybody knows what is happening with the dump?

Is this a sign to end the second quarter on a bear?

If bitcoin close on the bear for the month, what do you think with July and 3rd quarter?

$2k is not big we name it huge dump. above 31k was just testing flow of money and Bitcoin rejected from there which cause this sudden dump. we will see many time this kind of rise and fall and trader will try to break the support but if many time they couldn't then it will lead to $2k or more dump. as far as btc trade above 25k$ then no need to worry. we could see small panic in market but it will be recovered soon.

the OP may have not seen such large dump in the previous years, hence, he thought the decline of 2k is such a big deal for him. however, looking at the market today, we are again above 31k. so yeah, if someone bought when it was below 30k, he is already enjoying his profits. it may not be big, but volatility in this market is real where you can earn profits if you know when to buy and sell your coins. scalping is still alive if you are good at it.

Yes, with the high volatility of the crypto market, it allows us to make a profit if we can take advantage of it,
when the market goes down sometimes we are still waiting for it to go back down again which actually makes us miss a good moment to buy,
those with experience will be wiser in making decisions.

precisely for those who are experienced in taking advantage of this moment to seek big profits, this is not a big dump but high volatility, which is a pleasure for traders to take advantage of price fluctuations that occur. So do not be surprised if those who don't understand will feel panic because according to him this is a big decline. therefore understanding the characteristics of the bitcoin market is very important to keep our psychology stable

For noobs or starters - When they do see the price is going down then they do panic
For those veterans - They would really be seeing this as an opportunity for them to get in and accumulate more.

Experience would really be totally different in between people and this is why actions would be made out would really be basing up on their knowledge.
This is why on the time that we do see the price is dropping then it is really just that a normal movement of a market because we cant really be just having a continuous increase in price.
We cant really call it a market if its really just that like that. Expect the drops because this would really be an opportunity for us to buy cheap and sell later on when it rises.

[death69]

For noobs or starters - When they do see the price is going down then they do panic
For those veterans - They would really be seeing this as an opportunity for them to get in and accumulate more.

Experience would really be totally different in between people and this is why actions would be made out would really be basing up on their knowledge.
This is why on the time that we do see the price is dropping then it is really just that a normal movement of a market because we cant really be just having a continuous increase in price.
We cant really call it a market if its really just that like that. Expect the drops because this would really be an opportunity for us to buy cheap and sell later on when it rises.

Indeed, different individuals approach market dynamics based on their own understanding. For newcomers, they see a price drop as a catastrophic event, eliciting panic. More seasoned investors, on the other hand, see it as an opportunity for profit.

Drops in price are, fundamentally, normal fluctuations within a market ecosystem. Without these variations, the very concept of a "market" would be void. It would be akin to observing a river without any currents - the fundamental essence of a river is missing.

Seeing a drop in price as an opportunity is not merely a strategy, but a worldview that accepts the inevitable ups and downs of market behaviour. This viewpoint rejects the desire for a continually rising market, as this is inherently unnatural and unsustainable. Therefore, it is wise to utilize the drops as opportunities for acquiring assets at a lower cost.

[Fivestar4everMVP]

If the price falls, then there is a reason - the conclusion is quite simple. A question in other - whether the reason is correctly established. This is completely different and requires a completely different approach to work.

Clearly, I do not understand what or where exactly this your comment was or is heading to, I can't seem to make out any point in it no matter how many times I read it..

But just so you know, Mk4 has already given the correct answer as to why the price of bitcoin experienced that kind of significant dump it experienced on the 30th of June, which is also the same day op started this thread.

And yeah, like the first line of your comment says, every price action does have a reason backing it, though sometimes, when it seems there is no reason, pure speculation is also a very good reason.

[AakZaki]

Indeed, different individuals approach market dynamics based on their own understanding. For newcomers, they see a price drop as a catastrophic event, eliciting panic. More seasoned investors, on the other hand, see it as an opportunity for profit.

Drops in price are, fundamentally, normal fluctuations within a market ecosystem. Without these variations, the very concept of a "market" would be void. It would be akin to observing a river without any currents - the fundamental essence of a river is missing.

Seeing a drop in price as an opportunity is not merely a strategy, but a worldview that accepts the inevitable ups and downs of market behaviour. This viewpoint rejects the desire for a continually rising market, as this is inherently unnatural and unsustainable. Therefore, it is wise to utilize the drops as opportunities for acquiring assets at a lower cost.

The decline is an opportunity that must be utilized properly. a few drastic drops to the floor are a good opportunity to start collecting assets at a low price.
There is no market situation that always goes up and keeps going up, there will be times when a correction is really needed so that the market is healthier and can continue the next increase. Using a strategy combined with taking advantage of opportunities will be very good to apply.

[Natalim]

Drop isn't new in the market, just consider it as free fall as everything happens here - up and down. And it was not the thing we worried about but rather think that this is really how the market works. Might be because of the SEC, some FUDs, negative news, etc - all of them are a sort of manipulating factor that would affect the price but just believe that Bitcoin won't go that low anymore that we must be worried off, better make this a reason to buy more the same thing that the others did.

[RewFrew]

Pump and dump is natural behaviour of cryptocurrency market. We saw from some days Bitcoin and all cryptocurrency market very positive. Bitcoin price increased near about 15% within short time. But all thon market only will up it is not possible. Now bitcoin price dumping so i think it is normal behaviour of this market. And i think it is correction time. After correction bitcoin and other currency price will up there has no doubt. I think now we are in bull market. Now bitcoin price is near about $30k and after correction bitcoin price will hit new ATH.

[nur rochid]

Drop isn't new in the market, just consider it as free fall as everything happens here - up and down. And it was not the thing we worried about but rather think that this is really how the market works. Might be because of the SEC, some FUDs, negative news, etc - all of them are a sort of manipulating factor that would affect the price but just believe that Bitcoin won't go that low anymore that we must be worried off, better make this a reason to buy more the same thing that the others did.

I think this is a normal cycle which can occur from various possibilities. However, what we can use as a reference is that conditions like this do not last long, so there is no need to panic. instead we have to be able to use it to buy when panic prices come, because we actually know the characteristics of bitcoin. and the events of 2018 may not have happened for now, at which time bitcoin reached a price of $3500, due to panic among investors. therefore for now we actually have to hunt for prices if there is a dump, as before bitcoin touched a price of $ 16500

[gunhell16]

I noticed that it seems to be a bit difficult to break the 32k$ support because even at 31k$ the value is also pulled down a bit immediately, especially what update is happening in the lates news in cryptocurrency.

But when there is firm news that positively impacts the community, certainly, it will suddenly pump up the market again, which can be fake or true, kicking its value. But for now, we're on standby again for the upcoming major event a few weeks from now.

[palle11]

However, what we can use as a reference is that conditions like this do not last long, so there is no need to panic. instead we have to be able to use it to buy when panic prices come, because we actually know the characteristics of bitcoin. and the events of 2018 may not have happened for now, at which time bitcoin reached a price of $3500, due to panic among investors. therefore for now we actually have to hunt for prices if there is a dump, as before bitcoin touched a price of $ 16500

The scenario of what happened in 2018 like you analysed that bitcoin dropped from $20k down to $4k and after some time went further down to $3,500 before picking again in 2020 during the COVID-19 will not repeat itself again. The reason it won't repeat again is there is more awareness that has made the desire to acquire bitcoin has increased. Now, so many are waiting for such drop to enter the market so you see people setting DCA slightly below $30k, some $25k and $20k. So now the price rally going down to $25k will have a strong support where buys are waiting to buy, also in $20k levels. So I don't think we could see such ridiculous fall before halving.

[justdimin]

Indeed, different individuals approach market dynamics based on their own understanding. For newcomers, they see a price drop as a catastrophic event, eliciting panic. More seasoned investors, on the other hand, see it as an opportunity for profit.

Drops in price are, fundamentally, normal fluctuations within a market ecosystem. Without these variations, the very concept of a "market" would be void. It would be akin to observing a river without any currents - the fundamental essence of a river is missing.

Seeing a drop in price as an opportunity is not merely a strategy, but a worldview that accepts the inevitable ups and downs of market behaviour. This viewpoint rejects the desire for a continually rising market, as this is inherently unnatural and unsustainable. Therefore, it is wise to utilize the drops as opportunities for acquiring assets at a lower cost.

It will still depend on the coin. Veterans won't just be excited after seeing a shitcoin goes down but they will automatically avoid it because once shitcoin goes down, it can hardly recover anymore, unlike to a top coin that a dump in their price is only an opportunity given to the buyers.

There will always be a drop in price in any types of financial markets including here in crypto whether it is a normal fluctuation, caused by a fundamental factor, or a technical one. A river can have no currents sometimes and so as the financial markets. There will be a stability sometimes. Buying when the price is low is also a kind of a strategy as opposed to buying high and selling high.

[salad daging]

I noticed that it seems to be a bit difficult to break the 32k$ support because even at 31k$ the value is also pulled down a bit immediately, especially what update is happening in the lates news in cryptocurrency.

My analysis it will not be difficult, I know in a few weeks bitcoin still can not break the resistance at the price of $32k but I believe it can be exceeded in this month, there is little positive news then the price will rise but I see the movement still remains sideways that I see now.

But when there is firm news that positively impacts the community, certainly, it will suddenly pump up the market again, which can be fake or true, kicking its value.

I don't think it's going to be a public shock perhaps if anything more positive points to bitcoin it'll just be a bit of a recovery to try the next break out, although we don't expect any deeper declines.

But for now, we're on standby again for the upcoming major event a few weeks from now.

What big event is it in the coming week?

[darewaller]

Drop isn't new in the market, just consider it as free fall as everything happens here - up and down. And it was not the thing we worried about but rather think that this is really how the market works. Might be because of the SEC, some FUDs, negative news, etc - all of them are a sort of manipulating factor that would affect the price but just believe that Bitcoin won't go that low anymore that we must be worried off, better make this a reason to buy more the same thing that the others did.

True and even in the time that cryptos are not yet here, drops are already happening in the stock and other markets. The term free fall you use there is related to gravity but that is only natural while in the financial markets there are manipulations that can sometimes occur but people are already used to this that they treat it a normal market condition and besides, they can still be able to ride it just like a normal market movement. So what if Bitcoin can go lower than usual? Didn't you know that many people are actually wishing for it to happen? If we combine all of their buying force, Bitcoin will rise and manipulations can hardly counter it.

[Nrcewker]

This is the market. While you will find out the reason, the situation will change several times. Here you must always look a few steps ahead. There is only one chance in this case.

Absolutely on point. In trading you need to always be predictive. You need to analyse the market conditions and estimate the direction of the coin. But if we generally see then many factors affects the price of the coin. The basic and most important factor which directly affects the price is it’s demand among the public. Bitcoins and many assets follow the principle of supply and demand. So yes if the demand is low, then definitely price will fall, and if the demand to acquire the Bitcoins are very high then price also goes up in order to meet the demands.

[irhact]

Pump and dump is natural behaviour of cryptocurrency market. We saw from some days Bitcoin and all cryptocurrency market very positive. Bitcoin price increased near about 15% within short time. But all thon market only will up it is not possible. Now bitcoin price dumping so i think it is normal behaviour of this market. And i think it is correction time. After correction bitcoin and other currency price will up there has no doubt. I think now we are in bull market. Now bitcoin price is near about $30k and after correction bitcoin price will hit new ATH.

We're not in a bull market from what I see, I don't consider the price increase we saw few weeks ago as a bullish signal, Bitcoin price rise because it was oversold and the price increase was too overwhelming that many trade jumped into the market and bought some Bitcoin pushing the price above $30k to $31k but now these traders are also those selling because they aren't into the market for the long period but trading short period to secure profits.

What's happening to Bitcoin price isn't a dump, it's just a correction and this is normal for an assets that's as volatile as Bitcoin. The price will rise back up soon therefore we shouldn't panicked but keep buying more Bitcoin in preparation for the future as Bitcoin will rise again.

[teosanru]

The price of bitcoin is dropping just this afternoon with more than $2k from the opening of $31k today. The huge dump is still going on, so anybody knows what is happening with the dump?

Is this a sign to end the second quarter on a bear?

If bitcoin close on the bear for the month, what do you think with July and 3rd quarter?

As we are already in a very deep valley if you see the overall bitcoin chart be prepared for more such drops. What I feel is that we'll see a lot of points in next few months which will make you doubt overall concept of bitcoin. But those will be the absolute buying points for bitcoin and you'll definitely see a big reversal from exactly those points.