Watching $70k support

[intrader]

I've been watching the charts today and it's crazy to see BTC dropping toward the $70k level after being so much higher recently. I’ve seen these big crashes before in 2018 and 2022, but it still feels a bit tense when it happens this fast.

Are you guys buying this dip or waiting to see if $70k holds? I think I'll wait a bit more to see if the panic selling stops first.

[JeffBrad12]

Buy this dip but moderately, in my opinion a drawdown could still happen. Possibly at $54k maximum seeing from the cyclical chart but the opposite could also happen which is a reversal. That'll be roughly another 25% drawdown. So, just use the money you can afford to hold for a long time.
If you insist to buy because you think we've hit the bottom, sure. Always DYOR, at least with bitcoin worst case scenario is holding for another 4 years until new bullrun came in.

[intrader]

Buy this dip but moderately, in my opinion a drawdown could still happen. Possibly at $54k maximum seeing from the cyclical chart but the opposite could also happen which is a reversal. That'll be roughly another 25% drawdown. So, just use the money you can afford to hold for a long time.
If you insist to buy because you think we've hit the bottom, sure. Always DYOR, at least with bitcoin worst case scenario is holding for another 4 years until new bullrun came in.

I agree, if you're buying Bitcoin, you have to be ready to hold for years. It feels like every time we think the bottom is in, there is one more 'flush' to scare everyone out.

It is impossible to catch the exact bottom, but if it hits $54k, I'll probably buy a bit more.

[bitbollo]

Pay attention to the the falling knife.
In my first day with btc, I have seen in the past even a bear market with 300 USD (-75% from ATH).
This is why probably the price of today doesn't really impress too much.
If I think about the past days, all the times, bear markets are just SALES. Discounts for all people that collect more bitcoin.

Also this is an interesting message. Bitcoin must be spent to have the "maximum" of their value, even if HODLING is still the key.
Imagine most of early adopters (according a common narrative in the media) have sold during the previous ATH.
Nowadays they can enjoy the btc with a an impressive discount (around 40-45% from ATH)!
At a certain point, average joe will realize advantages of bitcoin

[Awaklara]

Are you guys buying this dip or waiting to see if $70k holds? I think I'll wait a bit more to see if the panic selling stops first.

I might also wait, like what happened when Bitcoin was at the $75k-$80k price level; Bitcoin moved sideways for a few days, which might happen again at the current price.
If $70k doesn't hold, buying in the $60k-$65k range is a pretty good entry. But I think for the current market situation, we can't expect returns in a short time. If that price is reached, I might buy partially, not using all the funds prepared.

[intrader]

Pay attention to the the falling knife.
In my first day with btc, I have seen in the past even a bear market with 300 USD (-75% from ATH).
This is why probably the price of today doesn't really impress too much.
If I think about the past days, all the times, bear markets are just SALES. Discounts for all people that collect more bitcoin.

Also this is an interesting message. Bitcoin must be spent to have the "maximum" of their value, even if HODLING is still the key.
Imagine most of early adopters (according a common narrative in the media) have sold during the previous ATH.
Nowadays they can enjoy the btc with a an impressive discount (around 40-45% from ATH)!
At a certain point, average joe will realize advantages of bitcoin

I like that mindset. If you’ve seen the price drop that much in the past, today’s moves don't seem so scary. It’s all about perspective. It’s just a 'sale' if you believe in the long term.

It is lucky for those who sold at ATH in this cycle, but some of the earlier adopters even sold back in 2021. To them, the price of Bitcoin now is still unaffordable.

[bitbollo]

bear markets, cycles, volatility... all of these things keep bitcoin alive as "currency" or at least we don't have just an inflated asset.
Imagine if bitcoin was just pumping "tulyp-style". Everybody buying, no one will use as currency but just as a medium for speculation.
Bitcoin has ALWAYS been unaffordable too expensive and so on. But what drives the price? Or in general, what is the reason you give a specific price?
Of course these dumps seems very hard to digest, like a speculation or a clear market earthquake but... this is bitcoin.
If you are new ok. Personally I would not be shocked by lower value, literally 50% down of nowadays value. As I will not be surprised by the 1000% gain in 3-5 years. As probably price could go at same level as few months ago (80-90KUSD)
If you don't care too much about the price, but just about bitcoin you had to see this moments as "rare chance" to increase your bag....

[Charles-Tim]

Are you guys buying this dip or waiting to see if $70k holds? I think I'll wait a bit more to see if the panic selling stops first. I’ve learned the hard way that catching a falling knife usually hurts. Better to be safe, I think.

Someone called me when bitcoin was around $87000, he has been buying the dip with small amount of money. The last time he bought bitcoin was two days ago when bitcoin was around $76000. He is planning to continuing buying bitcoin every week.

I know also of someone that has began doing the same.

I still bought bitcoin yesterday and I will buy more if the price continues to fall, using small amount of money to buying it.

This was expected and it is happening now.

[laspol65]

The price of Bitcoin has broken the $70k range, but the way the price of Bitcoin is correcting, there is a high possibility of further correction. However, I have maintained my decision to buy Bitcoin at the moment of this correction, because I always buy Bitcoin by following the DCA method, so no matter how much correction there is, I will not stop buying Bitcoin, I will continue to buy Bitcoin. Because if the price reverses in the future, my chances of making a profit will definitely increase several times.

[shield132]

I've been watching the charts today and it's crazy to see BTC dropping toward the $70k level after being so much higher recently. I’ve seen these big crashes before in 2018 and 2022, but it still feels a bit tense when it happens this fast.

Are you guys buying this dip or waiting to see if $70k holds? I think I'll wait a bit more to see if the panic selling stops first. I’ve learned the hard way that catching a falling knife usually hurts. Better to be safe, I think.

70K USD is the best price to buy Bitcoin. I wasn't expecting it to go this low and wanted to buy when the price was 78K but thanks to my laziness, I didn't do that. I decided to buy it today, in a few hours at the price of 70K and hold it until it reaches a new all-time high or at least until it bypasses 100K USD. Can the price of Bitcoin go down further? It can, but it's risky. Max, it will go down to 50K but why risk it when 70K is already a very good price for nice profit? My suggestion is to buy it at 70K and hold. Extra waiting isn't worth the risk.

[Swordsoffreedom]

Are you guys buying this dip or waiting to see if $70k holds?

This will depend on each investor. Because each of us has different strategies, goals, and visions regarding the market. Just as many people once believed that the old market pattern had been broken, while others believed that history would repeat itself. Or many people believe that Bitcoin will not fall below $70k, while others believe it could drop below $60k or even $40k. So, in my opinion, there is no single answer or strategy that can be applied to everyone

For me, the bear market will not end anytime soon and there is still plenty of time ahead. Therefore, I'm not in a hurry to buy now, and instead, I will wait a little longer