What is your take on the sudden drop of bitcoin from 79 to 67k?

[Pikiboy]

From what I actually sense now many people had already feels discouraged currently based on the sudden of bitcoin price but guess what?
This is not the end of the price bottom yet as we know there are more chances for the price to drop below expected and as an a good investors this has given us another best opportunity to keep refilling our portfolio because it is only when the price drops we could have that chances to accumulate, but this is not the end of bitcoin price because if you tracked back bitcoin history 8 years back you would see that a worst case scenario has even happened so seeing bitcoin dropping to this level should not be a thing that would make us sober or think this is the last hope for us to see it rise again.

Cheer up and keep doubling your investment, you can do that through the DCA method if you don't really trust the market maybe thinking it would fall below this you can the dca to accumulate and when it falls more you could keep acquiring it gradually without being affected entirely and whenever the price rises back you would doubled your profits. Keep acquiring when the price drop and cheer up to know that there is rainy and sunny days, currently we are facing the raining moment on the price of bitcoin so it is advisable to refill your opened bucket.
I say make I bring this words encouragement to we people here as the market dey bleeding seriously.

[Charles-Tim]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

[Livingleged]

The price drop is not even that deep to be causing all this chaos, some whales sold, their holdings of about 32BTC worth about $2.5m and the weaker hands are already shaking some Are doing panic sell because they have negative thoughts about bitcoin in the coming days that is the reason the price is deeping. However one should not be carried away by all the narrative/speculation as this is the best time to buy because it’s just an opportunity to capitalise on buying cheaper than you should have bought and in few months the correction will start taking place and you appreciate buying now.

[Obim34]

Another opportunity to buy more Bitcoin at a cheaper price. When the year started, there were lots of expectation and prediction in the price of Bitcoin, for each quarter so many people gave their speculations, and for the entire year too. I speculated for the year to be bearish, I suggested for more dump than we will see in a pump, and it is going exactly that way, I already anticipated market dump, I'm not in surprise for what is happening and I only see privilege's to accumulate more Bitcoin.

[Makus]

The market has been in a confused state for a while because when it seems to be increasing there would suddenly be a rapid decline in the price of Bitcoin. This is an opportunity to buy the dip and keep on holding because the market would definitely increase at some point. The current state of Bitcoin is very discouraging because the market has been unstable for a long time and just when we hoped to start seeing some significant changes the market goes back to a low price. Regardless of the current state of the market patience is still going to pay off.

[Abu-Naim]

This is normal market conditions, it can be a reaction to maybe when some big investors sold large number of Bitcoin out at once, there will be panic by some investors that are not real investors, if they panic and sell, the market will really react to that and I think that is the reason for this dump.
Likewise, this is another opportunity to buy Bitcoin if you have money and have been waiting for the price to drop before you buy, this is an opportunity for you to buy and hold your Bitcoin or an opportunity to buy more now if you have some Bitcoin in your portfolio before now.

[Pikiboy]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

But from what I noticed it usually shows that when price are dropping majority of people who are holding bitcoin finds it very annoying for the price to drop with them knowing that, it is a natural thing and must go down and goes up again to make the market remain balanced. Bitcoin is not stable coin where people would be thinking of the price to remain on their expected price. Thus, we know that bitcoin is extremely volatile therefore holding trusted coin is more better than trading.

[Donneski]

Though the recent drop came as a surprise to many of us especially for people that recently added more sats to their portfolio but I don't think it should cause much panic. In the regular Bitcoin cycle, this period is usually the time for bullish trend in the market. I think the main issue now especially for short-term holders is that nobody is sure wether this is the bottom or it'll dip further but for long-term holders, volatility is part of the game. It's moments like this that birthed the advice that you should invest mostly with what you can afford leave for a long period.

[Hypnotizer]

So we’re back to that moment again…where we see all those posts whether FUD inspired or criticism about bitcoin. Surely we should expect correction or dips in bitcoin investment, it’s all about your risk management and your Hodling ability.

The crash was very fast tho, especially today because it went down about 6% today alone from around $71,400-ish to around $67k. Many people might panic but there’s no need for much panicking, it’s bitcoin and it will sure bounce back.

I don’t know what caused this crash though but whatsoever it was, it would surely bounce back as we’ve seen severs times before..

[Dogedegen]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

But from what I noticed it usually shows that when price are dropping majority of people who are holding bitcoin finds it very annoying for the price to drop with them knowing that, it is a natural thing and must go down and goes up again to make the market remain balanced. Bitcoin is not stable coin where people would be thinking of the price to remain on their expected price. Thus, we know that bitcoin is extremely volatile therefore holding trusted coin is more better than trading.

I think you have a wrong analysis of the situation and that the reality is being confused based on what you are reading online. Only a small number of people are complaining about those things online and it is those that are impatient, over invested, or new to this market. That is all there is, for each person you find that is complaining you are not finding hundreds of others who are not complaining because they are just silent about this. Keep this in mind it is a known confirmation bias and people get sentiment analysis wrong because of things like that.

So we’re back to that moment again…where we see all those posts whether FUD inspired or criticism about bitcoin. Surely we should expect correction or dips in bitcoin investment, it’s all about your risk management and your Hodling ability.

The crash was very fast tho, especially today because it went down about 6% today alone from around $71,400-ish to around $67k. Many people might panic but there’s no need for much panicking, it’s bitcoin and it will sure bounce back.

I don’t know what caused this crash though but whatsoever it was, it would surely bounce back as we’ve seen severs times before..

A daily panic crash of 6% seems quite an example of Bitcoin maturing though, in previous times it would slide 20% or more before it would stop. This cycle has been quite weird for many reasons, Bitcoin used to be correlated at some times even with tech stock and things like that but this time it has been quite different. At this point we still can't be sure if the cycle theory holds or it does not, we have to wait for this year to see if it is going to be a thing of the past or it is still relevant. People forget things easily these days because of over consumption of content online, they can't even remember or check a chart from 4 years ago. According to the cycle, the bottom should be at the end of the year. So either it will be like that or the cycle thing will be put to rest and something new will happen. For now, this behavior is still aligned with the cycle theory.

[Agbamoni]

Bitcoin is behaving in its usual way (volatility). Did you expect Bitcoin to stay stagnant?
Bitcoin provides people with the opportunity to buy or to sell, depending on their goals. A trader will either gain or lose based on this sudden drop in price, which was not expected. An investor may buy for more accumulation or sell to avoid more losses.

[Out of mind]

Recently, I saw in a news that the largest holder of Bitcoin, Michael Saylor, sold a small amount of Bitcoin from his strategy company. As a result, the price of Bitcoin has temporarily declined, although I think it will not last long. However, this may be the reason for the rapid decline in the price of Bitcoin, although we cannot expect much growth from Bitcoin in June. However, since Bitcoin is already within $64k, if it gradually stabilizes and moves forward, the market may return to normal in a few days. However, when faced with such a decline, the selling pressure in the market increases, many people think that it may fall further, which results in selling. But I think that instead of selling at this time, it is better to plan to buy more and hold it for a long time.

[Pi-network314159]

The current dip in the market is as a result of whales dumping The market, by selling huge amount of Bitcoin. But however the market always give room to accumulate more Bitcoin expecialy during period like this when the market is dip. We shouldn't be afraid of the market or think why it fell from $79k to $64k, anyone in the market should be aware of how the market fluctuate expecialy during bear season. We just need to take advantage of the dip in Price and accumulate more because certainly profit will be made in due time.

[DiMarxist]

What I will say is that anyone who is discouraged about the sudden drop in price is not a true Bitcoiner, because anyone who is familiar with Bitcoin for a long time will know that Volatility is part of Bitcoin property so expect the price to fluctuate anytime. Again Bitcoin is undergoing a price correction and so the Bear run has been for a while, Bitcoin price will be corrected very soon and the price will bounce back there is nothing big about the fall in price this is not the first time we are seeing the price going down this low after last year's Bull run which saw the price reaching a all time high.

[promise444c5]

Well I was expecting the fall to around $57k .. It only came late but it’s perfectly normal just Buy the Dip and hold . The hope for another bull run is likely going to be ending /27~/28, things could change and we could even start climbing much more faster than expected if the pattern is already broken.

The short bull to $80k was just to put more traders interested in making profit with the buy earlier.. That didn’t end well Bitcoin Dumps Below $65K, Spurring $1.8B Wipeout Before Recovery

[HajiBagi]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

You are right, the best thing for anyone who want to buy bitcoin is now buy now because this is the best time to do that, there is no need to panic because this is not the first time we have seen this kind of thing happening, bitcoin price can drop and rise at any time that is why it is unpredicted investment, although many people will be panic now most especially those people that buy bitcoin when the price is 70k above but panicking is not a good option because that is still nature of bitcoin.

The price has dropped more than this before and we all later see how the price rise at the end, this is a good news for people that want the price to drop so that they can buy and if anyone miss this opportunity and thinking that the price will drop again and decide to wait more it is a waste of time, buy when the price is down before the price rise again.

[Little _damsel]

When Bitcoin dey pump, some people believe say e no fit fall again. When e dey drop, some people believe say e no fit recover again. All of them sha dey important.
Like OP rightly mentioned: the market dey bleed now no means say things don end. If we look history again we go see say bitcoin don see pass all these ones. But I go like talk something on the part wey you say “keep doubling your account”

That line come with caution ohhh…..
Investors should only buy in amounts they can comfortably afford, and make you also dey sure say you sabi maintain good risk management. Every investor need plan wey fit their financial situation.

[Nathrixxx]

This is not a sudden occurrence because if you check the chat it has already indicated that the market is possibly going to fall at this time, which is when it occurs. Another factor to consider is that we are still in the bear market and this is common to a season like this whereby we see that most of the crypto market is also on a downtrend, it is no cause for alarm because after every fall comes a rise, and this is what we expect soon.

[Man of peace]

On how i understand Bitcoin or crypto currency in general is that every season of it is an advantage to someone else,it might not be your time but someone elsewhere is waiting for that opportunity to come..

So in as much as the Bitcoin price dropped from 79k to 67k it's never a total loss for everyone who is into cryptocurrency rather it's a lose for some people who where waiting for the bull run to make a sell of their coins while they're are people who were waiting for the bearish market to get more coins accumulated.so in this case which ever one we fall into we should not be panic for it's a rotational cycle and we all know very well that, that is the nature of Bitcoin and other coins as well.. that there's a time for Bull run and time for bearish market price..

[SmartCharpa]

Nothing to be discouraged about, real investors do not see the price go this low and feel discouraged about it. Only short term investors will feel discouraged about it because the market does not operate the way they expected. This is why it is better to go for a long term investment than chasing a quick profit. Bitcoin dropped from $70k plus to $60k and only short term investors will feel discouraged about the recent price.

However, this recent drop is not the end of the story. Real investors have experienced this before, so they don’t care about the price, but see it as an opportunity to add more to their holdings. When Bitcoin goes above $100k, many people were excited about it. So even at this dip, there is nothing to be sad about. It can still dip more than this.