A Sudden Price Drop in The Crypto Markets - page 2.

Shasha80

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Quote from: cute nmp on May 26, 2021, 04:34:07 PM

Many people will blame Elon musk for the entire bitcoin dip that took place even though him and China contributed to the downtrend the market was already in need of correction after the uptrend that occurs since last year I 'm just afraid to see btc break under twenty-eight thousand which typically will indicate a bear market.But if that did not happen then there is hope of going up again.

I agree with the opinion that the biggest contribution to the cause of the fall in crypto prices is Elon Musk and China, because both spread FUD which
makes many investors panic. But fortunately now the Bitcoin price and some altcoins are starting to recover, even Bitcoin made it back to $ 40k.
This is a sign that the bear market has yet to come, hopefully in the next few days the crypto market will get better. I really hope Bitcoin can return
to above $ 50k again, but it looks like it will be difficult to come true in the near future.

Fredomago

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Quote from: TheNineClub on May 26, 2021, 02:14:26 PM

A lot of people are for some reason shocked about the price drop, but those people forget or are just unaware that we had the same situations in previous cycles and the pattern in this one is more or less the same (this is the fourth cycle).

If you analyze more deeper then you'll see that it's just repeating itself, if you don't want to lose you investment best not to do

anything or if you still have spare fund, you can buy more from this current market.

Quote

Maybe we can take into consideration that this is not a small cycle but a megacycle and we are just climbing our way up, but it's hard to get behind that theory as evidence suggests otherwise.

Everything is unpredictable, a lots of changes can happened along the way, but in the long run those who believes and continue to support
will able to maximize all the benefits from this investment venue.

Quote

So in the end, it's just another cycle doing its thing. It's not Elon's fault, it's not the government's fault, it's not your fault, it's just the way it is.

No one but the investor itself, he should take all the responsibilities while working with this market.

cute nmp

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Many people will blame Elon musk for the entire bitcoin dip that took place even though him and China contributed to the downtrend the market was already in need of correction after the uptrend that occurs since last year I 'm just afraid to see btc break under twenty-eight thousand which typically will indicate a bear market.But if that did not happen then there is hope of going up again.

Twinkledoe

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Quote from: Fatunad on May 26, 2021, 03:20:15 PM

Quote from: shadow123 on May 26, 2021, 02:09:02 PM

Yes, sudden drops comes every time in the market ones it get high prices. If you buy crypto at high prices don't sell crypto at the sudden drops. Surely it will have a good time if you buy a good coin.

Easy to say but it would really be hard for those who had just recently jumped into this market on where dealing with volatile price isnt something easy that you can deal with if you dont have much experience on it.
Price drops are inevitable but majority been seeing this as a negative stuff without minding the opportunity that it gives where you can buy cheap but i cant really blame off that you would really hesitate on times
like these because we dont know on whats the actual bottom on this one this is one of the most common factor on why we do miss out opportunity on making profits
and for those who do took risk then they are the ones who are really making money.

This is why it is not advisable to jump on what is the current hype in the market if you are new. Just like with most meme coins, most of them are just crappy projects riding the hype of doge. I believe a lot of these buyers will be screwed from these meme coins. Crypto is a very volatile and very risky investment, they should have known that even before jumping on this train. And they should not blame the market if they lost on this market. If they can't wait, then, I guess, this market is not for them.

buietaw

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Quote from: Ultegra134 on May 13, 2021, 06:05:59 AM

Quote from: mrquackquack on May 13, 2021, 05:52:29 AM

A sudden price drop in the crypto markets along with the deepening points loss in the dow jones point to a a slow and steady downward trend as of late. Is the bull run of 2021 over? Are these the marks of the beginning of something much worse to come? A major recession, a new crypto winter? What could possibly be next? Any comments and thoughts are more than welcome.

You can blame Elon Musk for trolling the entire crypto community and the whole market for the sudden crash. He announced that Tesla will no longer accept Bitcoin payments because according to Musk, cryptocurrencies are hurting the environment. Moreover, environmentalists were claiming that Bitcoin mining was taking a large toll on electricity, which is solely based on fossil fuels, especially coal, and were against Tesla's option to receive Bitcoin payments.

What an irony, the large scale of battery production isn't that environmentally friendly either, but no one is commenting on that.

The electricity spent for bitcoin has reached enormous sizes. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. Certainly, something must be done about this. But I don't think Elon is trying to find a solution for this problem.

Source : https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume

Fatunad

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Quote from: shadow123 on May 26, 2021, 02:09:02 PM

Yes, sudden drops comes every time in the market ones it get high prices. If you buy crypto at high prices don't sell crypto at the sudden drops. Surely it will have a good time if you buy a good coin.

Easy to say but it would really be hard for those who had just recently jumped into this market on where dealing with volatile price isnt something easy that you can deal with if you dont have much experience on it.
Price drops are inevitable but majority been seeing this as a negative stuff without minding the opportunity that it gives where you can buy cheap but i cant really blame off that you would really hesitate on times
like these because we dont know on whats the actual bottom on this one this is one of the most common factor on why we do miss out opportunity on making profits
and for those who do took risk then they are the ones who are really making money.

TheNineClub

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A lot of people are for some reason shocked about the price drop, but those people forget or are just unaware that we had the same situations in previous cycles and the pattern in this one is more or less the same (this is the fourth cycle). Maybe we can take into consideration that this is not a small cycle but a megacycle and we are just climbing our way up, but it's hard to get behind that theory as evidence suggests otherwise. So in the end, it's just another cycle doing its thing. It's not Elon's fault, it's not the government's fault, it's not your fault, it's just the way it is.

shadow123

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Yes, sudden drops comes every time in the market ones it get high prices. If you buy crypto at high prices don't sell crypto at the sudden drops. Surely it will have a good time if you buy a good coin.

add1ct3dd

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Quote from: 2double0 on May 16, 2021, 01:31:14 PM

When I said this, everybody thought I am bearish but I just tried to warn everybody for the correction that was inevitable. It happened, and it happened just in a way I told my friends and also the community here. There are now more probabilities of btc getting dumped by retailers and also check the patience of institutions if they can handle the heat, or this correction will flush out another wave of weak hands and a new, more stronger bull run will begin.

The problem during bull runs is that they take us away from reality and we start thinking this time will never end just like how a winner feels when they win a bet in gambling without realizing that good times won't last forever. I was aware that this bad run will start soon but just even knowing that, I didn't sell my coins at the right time. I am sure another bull run will come soon though.

Quote from: bengsabeng on May 16, 2021, 03:41:13 PM

if you have been here since 2017 maybe you already understand this condition. this is a cycle, when ATH has been reached after that there will be a tremendous drop. be prepared because this will happen in the near future !

Yeah it's like everyone knows they won't earn from gambling yet everyone does it.

mrquackquack

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I thought Binance was going to delist XRP?

mrquackquack

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As of this time the price of Bitcoin is around the 33-34k usd range. Will it drop to sub 30k or rebound to a higher price point?

newwest

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Quote from: ?? on ??

It looks like this is the end of this year's bull run, even though the cryptocurrency market is slowly starting to decline, and it all started when Elon Musk tweeted a statement about Tesla's refusal to pay using bitcoin and this was followed by a ban on cryptocurrency transactions from China, hope this price drop isn't the end of the bull running season this year

Its just the bad timing of the both which fueled the greater fall and then we have panic sellers in the market which make the things more worst. But on other hand visionaries look for opportunities in such market, and price fall is what the best thing to buy more at lesser value also exist now.

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Quote from: secretgirl on May 20, 2021, 10:23:36 AM

no one will ever know for sure what will happen next. but I wouldn't say the 2021 bullish period is over. Maybe now is an opportunity to buy and always believe that the market will definitely go up again. everyone certainly does not believe what is happening at this time, and I myself do not know exactly what is the cause of all this. But I still believe that the market will be bullish again.

For long-term traders who have sufficient capital, this is an opportunity for them to be able to buy potential Bitcoin or Altcoins at a low price. It's not that the bulls in 2021 are over, because no one knows for sure that in the future the market price will go up or down, which is sure to have strong confidence in the coins we hold is the best way. So don't get carried away because there is a lot of panic by weak hands when there is a downward trend in market prices.

bull market is over, now the question is to what extent will bitcoin price go down. in 2017 after the tremendous price increase bitcoin lost in price by up to 50%. will this happen again this year? I will wait for this

fulcare

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Quote from: ?? on ??

Quote from: secretgirl on May 20, 2021, 10:23:36 AM

no one will ever know for sure what will happen next. but I wouldn't say the 2021 bullish period is over. Maybe now is an opportunity to buy and always believe that the market will definitely go up again. everyone certainly does not believe what is happening at this time, and I myself do not know exactly what is the cause of all this. But I still believe that the market will be bullish again.

For long-term traders who have sufficient capital, this is an opportunity for them to be able to buy potential Bitcoin or Altcoins at a low price. It's not that the bulls in 2021 are over, because no one knows for sure that in the future the market price will go up or down, which is sure to have strong confidence in the coins we hold is the best way. So don't get carried away because there is a lot of panic by weak hands when there is a downward trend in market prices.

Hard to tell whether the bulls from two month ago are still the bulls from today. I am sure that some guys really took big time profit off the table and are now more observers than traders. I would like to see Binance's balance sheet and exactly check how much of their cryptocurrencies they now sold right into the bull run. I think they sold a lot.

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Over the past few months, cryptocurrency has been going to observe different oriented behaviors. Almost all types of cryptocurrencies, including Bitcoin, have surpassed all previous prices and are now on a downward trend. The current downward trend is somewhat influenced by the market as well as the attitude of prominent personalities towards cryptocurrency. Featured Elon Musk's Various Statements Opinions on Bitcoin and Cryptocurrency This has led to some mixed reactions from the public about cryptocurrency. It is hoped that Bitcoin will quickly overcome its effects and accelerate its upward trend again.

Argoo

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Quote from: wahyu wida on May 20, 2021, 08:47:17 PM

Quote from: secretgirl on May 20, 2021, 10:23:36 AM

no one will ever know for sure what will happen next. but I wouldn't say the 2021 bullish period is over. Maybe now is an opportunity to buy and always believe that the market will definitely go up again. everyone certainly does not believe what is happening at this time, and I myself do not know exactly what is the cause of all this. But I still believe that the market will be bullish again.

from 2018 we saw a bull market until 2021 and starting 2018 many people were frustrated because of the dump, will this year happen again? no one knows for sure the future movement, for sure we have to believe in ourselves, so that if the market is not according to our wishes we will not be too frustrated with the path we choose

It's only May now. In the summer, usually in the second half of it, business activity in all markets traditionally dies out. Therefore, if the market does not recover in the next month, then it has a period of summer time to consolidate the uptrend. The first half of this year was very good for the participants of this market, then I expect the next wave of price growth in the autumn-winter period anyway. Just by this time, several stages of the ethereum update will occur and this coin can serve as a catalyst for the next wave of price growth.

Maasdamer

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Quote from: fullhdpixel on May 21, 2021, 02:16:44 PM

Quote from: secretgirl on May 20, 2021, 10:23:36 AM

no one will ever know for sure what will happen next. but I wouldn't say the 2021 bullish period is over. Maybe now is an opportunity to buy and always believe that the market will definitely go up again. everyone certainly does not believe what is happening at this time, and I myself do not know exactly what is the cause of all this. But I still believe that the market will be bullish again.

Yeah, while some people would say it's because of Elon and some will make other theories but I think the latest drop happened because mainly a whale must have dumped their coins. There was absolutely nothing that was happening in the market for a while and suddenly price going down and that too by so much must have surely been a whale dumping their coins.

I even saw Justin Sun, founder of Tron tweeting that he bought 4145 BTC for a grand total of $152,818,183 and there were others who also bought Bitcoins so I can only dream how big of a whale must be that cashed bitcoins so much that even with so many billionaires buying BTC with full force cannot still lift BTC back to the point where it was before the dump.

Nothing other than Elon was happening???
What about the China news? The crash from some days ago and the drop today was 100% the China wants to ban crypto services news, nothing else.

fullhdpixel

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Quote from: secretgirl on May 20, 2021, 10:23:36 AM

no one will ever know for sure what will happen next. but I wouldn't say the 2021 bullish period is over. Maybe now is an opportunity to buy and always believe that the market will definitely go up again. everyone certainly does not believe what is happening at this time, and I myself do not know exactly what is the cause of all this. But I still believe that the market will be bullish again.

Yeah, while some people would say it's because of Elon and some will make other theories but I think the latest drop happened because mainly a whale must have dumped their coins. There was absolutely nothing that was happening in the market for a while and suddenly price going down and that too by so much must have surely been a whale dumping their coins.

I even saw Justin Sun, founder of Tron tweeting that he bought 4145 BTC for a grand total of $152,818,183 and there were others who also bought Bitcoins so I can only dream how big of a whale must be that cashed bitcoins so much that even with so many billionaires buying BTC with full force cannot still lift BTC back to the point where it was before the dump.

Cling18

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I don't think the bull market will be over because of the sudden price drop. Correction like this is necessary and part of crypto's volatility due to the effect of some events. I guess there will still be a big boom in the coming days because it's still early to end the bull market. There are still things that are yet to happen so we shouldn't panic about the price change.

Xinarae*

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Panic always puts people at risk those who see the market drop now will sell their currency. It is nothing but nonsense the reason for the market going down is that it will have to wait patiently for it to go up again newcomers are more at a disadvantage because they have less knowledge about the market the market will improve. I think if you keep investing this time if the price goes up and the market goes up the price will double and the traders will be profitable again.

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