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

[kawetsriyanto]

If you were following the market right from 2016 you would understand that there's nothing impossible to happen in the industry.

Even we didn't follow the market since 2016, we should understand that there are many factors to trigger the price decreasing severely. We have the news about MT Gox to send a big number of Bitcoin to creditors, this surely makes sense to influence the market price. Just image if the creditors sell the big number of the Bitcoin, the supply will increase significantly and the price drop quickly.

Related news: https://www.theblock.co/post/303594/bitcoin-dips-mt-gox-moves-btc

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.

Yep. We already saw the same way in the previous cycle that the price dropped quite a lot after the halving. It will increase gradually when it is nearing the new ATH in the next year. Decreasing 30% - 40% is quite big, but it is still reasonable because we have some negative news recently. However, I am also the same as you, I no doubt with Bitcoin future. When the negative news is over, there should be another rally on Bitcoin uptrend. I assume in Q4 of this year, we may see another rally for the new ATH of Bitcoin.

If you were looking for a better moment to enter the market then now is the right to engage yourself with DCA.

DCA can be done any time as long as the price looks far from the next ATH. However, sometimes the problem is about capital, we often has no longer money whenever there is a big dump. 

[X-ray]

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.

I think it will hugely depends on the future mt gox settlement of the distribution of credits, that will be the one that determine whether bitcoin gonna tank below $53k or not, because honestly speaking if it were to go down below that, i will be readying myself for the DCA.
the thing is, since government dumping has made quite the impact, people are hesitant to DCA or buy at current price, but at the same time, mt gox distribution which gonna takes 3 months, is distributed to individual, where each of them gonna make their choices, whether majority of them gonna dump, still yet to be seen, but knowing that they bought BTC at really low price, the chance of them dumping is quite high.

[Webetcoins]

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.

Who would want Bitcoin to fall especially those who have invested a huge amount in Bitcoin, given the current situation of BTC there is more fear of the market going down. People including me who started doing DCA when it was at $65k have already invested a good amount of their money in BTC and now can only hope that it doesn't go down further and the market remains stable or starts going up soon. Indeed, it will not always be profitable or the market will always be up, so those who say that the market will not go down are just reassuring you or they are marketers. Don't understand that much about it.

As for the rest, only time will tell in which direction the market will move next, but we should hope for the best and we all are hoping for the best because we have seen BTC earlier and we know what it's capable of. For us, this is not new but a long wait.

[Gaza13]

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.

Yes, of course for some people waiting for a moment like this, yes, the opportunity will never come a second time. If someone has bought at a decreasing price like this and in the future experiences a decrease again, I think this is a normal thing for an incident like this. In my opinion, people who complain are not not using a good strategy but they are not ready to lose their money, usually people who have experienced, of course they won't complain, in fact they are waiting for a moment like this, which is what investors always want.

[STT]

Back above 56k back above 58k even but its too late.   Big thing now is the 200 day average kept on rising and is now overhead of the current price.

 We need to recover half a dozen different factors to properly regain positive momentum in an assured way.  There is some hope in that the 5th July sell off day was a pin candle which is considered bullish.  1 day doesnt mean anything by itself but we have done ok since then.  If July 5th is now the low of current action then a build in price is underway.  Stay confident so long as we continue in a similar manner.

Next thing to watch will be late June action and beating 60k to 63k will right much of the threatened sell off that was extending forward before us.

[AmoreJaz]

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.

Who would want Bitcoin to fall especially those who have invested a huge amount in Bitcoin, given the current situation of BTC there is more fear of the market going down. People including me who started doing DCA when it was at $65k have already invested a good amount of their money in BTC and now can only hope that it doesn't go down further and the market remains stable or starts going up soon. Indeed, it will not always be profitable or the market will always be up, so those who say that the market will not go down are just reassuring you or they are marketers. Don't understand that much about it.

As for the rest, only time will tell in which direction the market will move next, but we should hope for the best and we all are hoping for the best because we have seen BTC earlier and we know what it's capable of. For us, this is not new but a long wait.

This is the very reason why if you will invest a significant amount of money on this market, you should be ready for this kind of market movement as you can't always get the target price that you want.

[wmaurik]

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.

It seems like it will be a little difficult if you want a Bitcoin price below $50K because today the Bitcoin price has almost returned to $59K, which means you only need the courage to buy at the current price if your dedication is to make a profit in the next month. And for now I still think that in the next month Bitcoin could get even more price increases as long as there is an influence that can trigger more Bitcoin buyers in the market. So it would be better if you want to make the decision to buy Bitcoin now rather than continuing to wait for low prices, which I myself am also not sure about someone's courage in buying Bitcoin when it has fallen a lot.

[erep]

It seems like it will be a little difficult if you want a Bitcoin price below $50K because today the Bitcoin price has almost returned to $59K, which means you only need the courage to buy at the current price if your dedication is to make a profit in the next month. And for now I still think that in the next month Bitcoin could get even more price increases as long as there is an influence that can trigger more Bitcoin buyers in the market. So it would be better if you want to make the decision to buy Bitcoin now rather than continuing to wait for low prices, which I myself am also not sure about someone's courage in buying Bitcoin when it has fallen a lot.

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.