I didn't expect to see it went below 56k

[uneng]

We're on the weekend so probably the damage has been controlled as of the moment. But we'll see when the markets open on Monday and for sure that many aren't going to like that. 

I hope so... Bitcoin managed to return to 57,800$ nicely and it's already trying to break the 58,000$ line. It's possible that on the next days we see Bitcoin reaching close to 60,000$ again, which is an important price range to retrieve the optimism from investors after so many negative news and the recent crash. Personally, I believe once the sales from Mt. Gox's customers begin, the market will see it's not going to be so devastating like it was expected once the news came into the scene.

So, the tendency is that fear of new crashes will cease, and more investors will start buying once again. The crash we saw was due to a psychological effect caused by fear, as investors didn't know how deep Bitcoin could fall, so they guaranteed some funds back into fiat on the short term. It's worthy to keep in mind not every investors can give themselves the luxury of holding forever. They have real life expenses and schedules, so the money they have invested in BTC has to be cashed out to fulfill such appointements from times to times.

It's a responsible measure to cashout before a large crash, so they can guarantee they can meet daily routine's debt.

[bangjoe]

Just flee, rest and don't look at the charts if it's hurting you so that it will be your mechanism to address your panicking heart.

Sometimes when the market is hit by a disaster like that I think it is necessary to have a distraction rather than looking at a portfolio that is red and very sad.

Leaving the market for a few days is the best way instead of constantly looking at the candles, it will give a little calm and not get a sense of panic, if you continue to look at the market, the possibility of panic will always arise and can make us want to sell the BTC we currently have at a loss, except maybe people who really think otherwise, that they need to get more BTC when the market is experiencing a significant decline like now, it is a smart move to do additional DCA.

[Adbitco]

If you were following the market right from 2016 you would understand that there's nothing impossible to happen in the industry. I don't think something serious have happened let say to me the market would still drop to about 30 to 40 percent decrease from the ATH, this will happen before we finally get into full bull run if the history are in sequence because it seems the market is no longer moving the way it should but it is better to be optimistic that something positive gonna happened.
If you were looking for a better moment to enter the market then now is the right to engage yourself with DCA.

[$weetne$$]

We're on the weekend so probably the damage has been controlled as of the moment. But we'll see when the markets open on Monday and for sure that many aren't going to like that.

Monday will determine if the market can recover to $60,000 or if Bitcoin will continue dipping to below $50,000. We should not celebrate yet because we do not know what will happen on Monday. But I do not think we are going to like it though because I have a feeling that the selling will continue. The sudden dip has left many traders in shock including me. I always felt the market was going to dip but not to this extent. The fear spreading is a sell off coming from people with a large amount of Bitcoin and the panicking is still going to continue until they either sell or postpone their selling. Market is always slow during the weekend because some traders are not active in make trading.

[DiMarxist]

The price was already below $55k this week so there is no need to say bitcoin will not decline below $56k. It has already gone below that and and for this month bitcoin will not hit $38 and if bitcoin reached that price then the dip is sure to bw hit. And for those people who are saying that the price will reach $60k on Monday, they are just dreaming. The price will not reached $60k on Monday and if it increases the it will be at least $57k if not it will be at the price nod $55k or $56k.
The price of bitcoin at the end of the year is 60k as my prediction because the price is about entering the bear as of April next year.

[stomachgrowls]

Just flee, rest and don't look at the charts if it's hurting you so that it will be your mechanism to address your panicking heart.

Sometimes when the market is hit by a disaster like that I think it is necessary to have a distraction rather than looking at a portfolio that is red and very sad.

Leaving the market for a few days is the best way instead of constantly looking at the candles, it will give a little calm and not get a sense of panic, if you continue to look at the market, the possibility of panic will always arise and can make us want to sell the BTC we currently have at a loss, except maybe people who really think otherwise, that they need to get more BTC when the market is experiencing a significant decline like now, it is a smart move to do additional DCA.

This is why on the moment that you do step your foot into this market then always bare up in mind that everything or anything could happen in a snap or least expected or simply "EXPECT THE UNEXPECTED" as always,
because on the moment that you do find yourself that way too positive but the market turned out to the opposite side of things then you would really be definitely be having that kind of preparation on what
things that might come and this is something that be recommended so that you wont really be ending up on frustrated or getting shocked on what happened.  

Instead on freaking out with the current price then it would really be that ideal that you should really be having some considerations on making some entry instead on having those
kind of negative impressions or emotions on the current market condition. We do know that when it comes to movement then everything would really be turned out to be that
random and we cant really be having that moving upwards behavior forever, there would really be having corrections too on which this one would be normal.

[Distinctin]

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month,
~

Unexpected - yes, but not really surprising.  Bitcoin has had its ups and downs in the past, and a 27% drop, while significant, is not unheard of for this volatile asset.  As investors it is wise to keep some perspective during times of market turbulence.  No one truly knows what the future holds - the price could continue falling or reverse course at any moment.  

zooming out a bit, it is important to remember Bitcoin's tremendous growth trajectory over the last few years.  Short-term price corrections can feel jarring in the moment, but may cause less distress for those taking a long-term view and avoiding overexposure.  Time will tell whether this is just another bump in the road or part of a larger correction.  Patience and discipline are key.

Seeing bitcoin dropping its price drastically is never new to us because this has happened already in its previous years. But to be honest, I also expect bitcoin to start skyrocketing its price months after bitcoin having, but I don't think it will be happening this month. In fact, we may witness more of this in the next days or months, that's how volatile bitcoin is. But one thing is certain, time will definitely come that we will see bitcoin price one of these days surging high and going up to the moon again when we least expect it to happen.

[erep]

Seeing bitcoin dropping its price drastically is never new to us because this has happened already in its previous years. But to be honest, I also expect bitcoin to start skyrocketing its price months after bitcoin having, but I don't think it will be happening this month. In fact, we may witness more of this in the next days or months, that's how volatile bitcoin is. But one thing is certain, time will definitely come that we will see bitcoin price one of these days surging high and going up to the moon again when we least expect it to happen.

We actually don't need to be surprised by the current market conditions because market movement dynamics will definitely exist after the drastic increase in the price of Bitcoin which reached ATH this year, so there is no need to overreact to the current market price and don't believe in low-level speculation that predicts the market price will fall to 30k, this situation will make people panic to sell bitcoin which could result in the price dropping, but we must be wise in taking advantage of DCA investment opportunities to focus on increasing bitcoin investment. However, bitcoin still has the opportunity to recover quickly because the current dominant price is still very close to the ATH price.

[STT]

Recovering past 57k to end the week would help resolve this weekly bar positively and its generally the closing price that tends to matter more then most other factors.   Above the 2 day but needs 60k to average out the week as positive then you really know thats a full recovery scenario.   Weekly average or 60k here would be my golden rule or measure to take a move as genuinely positive or negative just acting to fool us.

[legendbtc]

The seller was likely the German government, who received compensation from Mt.gox. The German government can sell whenever they want because they don't buy those bitcoins so they don't care what the bitcoin price is. Meanwhile, Mt.gox victims are receiving 100x profits after 10 years, and they have waited so long to receive these bitcoins that selling them is inevitable.

My question is with such negative news, who will be brave enough to buy bitcoin now when most of us fear more price drops are waiting for us? Bitcoin price drops are always an opportunity, but how many people are brave enough to buy it?

Yes the German government was selling but thats all temporary selling in a bull
market, that as well as the MtGox saga will pass and be part of Bitcoin history

I cant believe there should be fear - again in a bull market post halving.

Actually what is happening is a good thing for the market and for us because the Mt.gox story has been going on for the past 10 years and it always causes panic every time news about it spreads. So the fact that they are refunding bitcoins to everyone is good news because they will soon be history and we will no longer fear anything related to Mt.gox in the future.

But in reality, not everyone thinks like us, especially those new to the market. It's understandable for newbies to panic over news like this, and it's normal for them to sell their bitcoins. But in the end, all of this will soon pass and the real bull season has not yet arrived, so those who have sold will soon regret it.

[wmaurik]

We actually don't need to be surprised by the current market conditions because market movement dynamics will definitely exist after the drastic increase in the price of Bitcoin which reached ATH this year, so there is no need to overreact to the current market price and don't believe in low-level speculation that predicts the market price will fall to 30k, this situation will make people panic to sell bitcoin which could result in the price dropping, but we must be wise in taking advantage of DCA investment opportunities to focus on increasing bitcoin investment. However, bitcoin still has the opportunity to recover quickly because the current dominant price is still very close to the ATH price.

Currently the price of Bitcoin is still around $57K which is generally not too far from the highest price seen this year so I also don't think Bitcoin will fall that low this month. Because if the decline certainly has a cause, it is clear that recovery is still a definite thing to hope for through other causes. However, for the new ATH, I still haven't made a prediction because it still takes a little more time for Bitcoin so it's also a good idea to keep holding and buying before a big recovery occurs again in Bitcoin.

[skarais]

~~~

Currently the price of Bitcoin is still around $57K which is generally not too far from the highest price seen this year so I also don't think Bitcoin will fall that low this month. Because if the decline certainly has a cause, it is clear that recovery is still a definite thing to hope for through other causes. However, for the new ATH, I still haven't made a prediction because it still takes a little more time for Bitcoin so it's also a good idea to keep holding and buying before a big recovery occurs again in Bitcoin.

The price of bitcoin has fallen by over 22% since its last ATH of around $73k in March 2024. This has been too much for me and most other users, but of course I don't know how you feel now that you know that fact. Holders' mentality is tested by this downward trend, those who panic and fear loss will sell, while those who believe in the potential for recovery will hold and accumulate.

Personally I've ignored price volatility as much as I can, but it's certainly not fun to see prices drop that much from March to now. Of course we cannot hope that the upward trend will always last, sometimes there must be a downward trend so that the mentality of investors and holders becomes stronger.

[BABY SHOES]

The price of bitcoin has fallen by over 22% since its last ATH of around $73k in March 2024. This has been too much for me and most other users, but of course I don't know how you feel now that you know that fact. Holders' mentality is tested by this downward trend, those who panic and fear loss will sell, while those who believe in the potential for recovery will hold and accumulate.

Personally I've ignored price volatility as much as I can, but it's certainly not fun to see prices drop that much from March to now. Of course we cannot hope that the upward trend will always last, sometimes there must be a downward trend so that the mentality of investors and holders becomes stronger.

There is no other way but to survive and continue to HOLD because selling now will definitely experience a lot of losses, maybe some of them are mentally affected because they see the market continuing to decline but with patience to wait for bitcoin to recover even though they don't know when it will happen so just stay optimistic.

Yaehhh ... will try to continue to accumulate in the falling bitcoin price.

Who does not panic with this falling price again tests the mentality of other investors how strong they survive, but after other news sinks the usual bitcoin starts to recover slowly.

[bangjoe]

Just flee, rest and don't look at the charts if it's hurting you so that it will be your mechanism to address your panicking heart.

Sometimes when the market is hit by a disaster like that I think it is necessary to have a distraction rather than looking at a portfolio that is red and very sad.

Leaving the market for a few days is the best way instead of constantly looking at the candles, it will give a little calm and not get a sense of panic, if you continue to look at the market, the possibility of panic will always arise and can make us want to sell the BTC we currently have at a loss, except maybe people who really think otherwise, that they need to get more BTC when the market is experiencing a significant decline like now, it is a smart move to do additional DCA.

This is why on the moment that you do step your foot into this market then always bare up in mind that everything or anything could happen in a snap or least expected or simply "EXPECT THE UNEXPECTED" as always,
because on the moment that you do find yourself that way too positive but the market turned out to the opposite side of things then you would really be definitely be having that kind of preparation on what
things that might come and this is something that be recommended so that you wont really be ending up on frustrated or getting shocked on what happened.  

Instead on freaking out with the current price then it would really be that ideal that you should really be having some considerations on making some entry instead on having those
kind of negative impressions or emotions on the current market condition. We do know that when it comes to movement then everything would really be turned out to be that
random and we cant really be having that moving upwards behavior forever, there would really be having corrections too on which this one would be normal.

Yes corrections are normal on the journey of a traded asset, supply and demand are the main indicators in this case, so yes there is no need to panic, just let it stand or add another entry.

What is certain is not to make decisions too quickly in buying or selling bitcoin, we must have prior planning so that whatever happens in the market we must be prepared for the consequences and maybe some people do not have bad expectations of bitcoin movements so they are a little afraid.

We just need to hold and never sell, especially at a loss, it will make ourselves in a bad situation in the future when the market goes back up, even higher than what has happened.

[moneystery]

there are some news today that make bitcoin drop, but something like this is not new for bitcoin, even bitcoin has experienced a worse drop than this, so there is no need to panic that bitcoin will drop even worse. the point is if you have bitcoin investment keep holding and don't panic, because you will not lose if you do not sell.

even if you can, you can accumulate more bitcoin when the market condition is like now and do not need to worry that the price will continue like this because bitcoin will definitely go up again.

Except for the newbies who are panicking, those who have been through a bear season or two before won't be worried about what's happening. But I guess many people were quite surprised and a bit disappointed because everything happened quite quickly and not as people expected. Most were very optimistic and expected a bitcoin recovery this month, but in less than the first week of July, we continued to see bitcoin being dumped. Disappointment is inevitable.

I was also surprised and a bit disappointed but did not panic because with such a deep decrease, it will take us quite a while to recover. But like you said, this will be an opportunity for those who still have money and want DCA.

disappointed is very natural considering that it is an investment that we make using our own money and we hope that there will be an increase in price but what happens is the opposite. but an investor who understands bitcoin investment does not panic, because when they panic they will think carelessly and maybe they will sell their investment at a price that they should not sell. so just focus on holding and consider buying bitcoin back using the spare money that we have prepared in advance.

[erep]

disappointed is very natural considering that it is an investment that we make using our own money and we hope that there will be an increase in price but what happens is the opposite. but an investor who understands bitcoin investment does not panic, because when they panic they will think carelessly and maybe they will sell their investment at a price that they should not sell. so just focus on holding and consider buying bitcoin back using the spare money that we have prepared in advance.

They actually have to be prepared for the risk of current market conditions because however the market can move beyond our predictions, if they are not ready to accept the current market price then try to save your money to buy at the market price you want, for example a realistic target price of $50 k or below $45k, so they are mentally more prepared to accept market conditions than the current market price is still relatively high according to my review, so I still have reserve funds to buy at a lower price than the current price.

[Reredmi896]

They actually have to be prepared for the risk of current market conditions because however the market can move beyond our predictions, if they are not ready to accept the current market price then try to save your money to buy at the market price you want, for example a realistic target price of $50 k or below $45k, so they are mentally more prepared to accept market conditions than the current market price is still relatively high according to my review, so I still have reserve funds to buy at a lower price than the current price.

Current market conditions are difficult to predict, for beginners like me it might be an advantage if there continues to be a decline in prices, I can buy at a slightly cheaper price. with the spare funds I have, but I'm not sure if the price drop will be less than $50k.

[rachael9385]

I don't see any reason for anyone to complain about bitcoin price right now, this is a good opportunity to get more bitcoin if you haven't, you've seen the dip then take most advantage of it, I'm not the type to expect bitcoin to fall any more than this, if you are using the DCA method and you have a good reserves I guess this is a good time to put then to use and get more bitcoin for yourself.

Yes, this is a good opportunity for someone to buy bitcoin, now that Bitcoin is dipping continuously we shouldn't complain, instead we should buy when we have the money. Yesterday I watched a video when a dude was complaining that anytime he buys the dip the dip will continue to dip and I was like this man shouldn't bother at all because Bitcoin is dipping for a purpose. However people who complain now that Bitcoin is dipping are not using a good strategy to accumulate Bitcoin that's why they are not seeing the better side of the dip. Moreover we already know that Bitcoin will skyrocket after this dip so I don't see any reason for anyone to complain, there is always a passive purpose as Bitcoin is dipping.

[Essential10]

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

I can't really predict what is going to happen or what may happen in the future. But in my personal opinion if Bitcoin goes on a further correction I don't think it will go below $50k, but I don't think it will get to $80k very soon. With the current bitcoin dumping I think there will be a good opportunity for many because if we keep investing in bitcoin in this market we can expect a good result at the end of the year.  Many may be hoping for a further drop given the current dumping, but I think it's better to invest now rather than hoping for more dumping, if the price of Bitcoin starts to rise I think it would be foolish to miss the opportunity.

[sunsilk]

We're on the weekend so probably the damage has been controlled as of the moment. But we'll see when the markets open on Monday and for sure that many aren't going to like that.  

I hope so... Bitcoin managed to return to 57,800$ nicely and it's already trying to break the 58,000$ line. It's possible that on the next days we see Bitcoin reaching close to 60,000$ again, which is an important price range to retrieve the optimism from investors after so many negative news and the recent crash. Personally, I believe once the sales from Mt. Gox's customers begin, the market will see it's not going to be so devastating like it was expected once the news came into the scene.

So, the tendency is that fear of new crashes will cease, and more investors will start buying once again. The crash we saw was due to a psychological effect caused by fear, as investors didn't know how deep Bitcoin could fall, so they guaranteed some funds back into fiat on the short term. It's worthy to keep in mind not every investors can give themselves the luxury of holding forever. They have real life expenses and schedules, so the money they have invested in BTC has to be cashed out to fulfill such appointements from times to times.

I do hope that before this week ends again, we'll be able to see it back to $60k, if that's possible. But who knows how soon it is going to be.

It's a responsible measure to cashout before a large crash, so they can guarantee they can meet daily routine's debt.

For short-termers, this should be their thing. But for long term holders, we wouldn't mind whether a crash happens again.

Just flee, rest and don't look at the charts if it's hurting you so that it will be your mechanism to address your panicking heart.

Sometimes when the market is hit by a disaster like that I think it is necessary to have a distraction rather than looking at a portfolio that is red and very sad.

Leaving the market for a few days is the best way instead of constantly looking at the candles, it will give a little calm and not get a sense of panic, if you continue to look at the market, the possibility of panic will always arise and can make us want to sell the BTC we currently have at a loss, except maybe people who really think otherwise, that they need to get more BTC when the market is experiencing a significant decline like now, it is a smart move to do additional DCA.

Exactly.

We need distraction and that's why staying off from the market is what one must do. Don't look at your portfolios and never check the market, go back on it after a day or two.

We're on the weekend so probably the damage has been controlled as of the moment. But we'll see when the markets open on Monday and for sure that many aren't going to like that.

Monday will determine if the market can recover to $60,000 or if Bitcoin will continue dipping to below $50,000. We should not celebrate yet because we do not know what will happen on Monday. But I do not think we are going to like it though because I have a feeling that the selling will continue. The sudden dip has left many traders in shock including me. I always felt the market was going to dip but not to this extent. The fear spreading is a sell off coming from people with a large amount of Bitcoin and the panicking is still going to continue until they either sell or postpone their selling. Market is always slow during the weekend because some traders are not active in make trading.

Not yet for this Monday, it's closing to $56k and we're $4k away from it. Not a problem but as long as it won't go below $53k and $50k, we're fine.