Topic: Alts Blood Bath for Feb? - page 2. (Read 350 times)

Stagnant? We reached 24.5k for the first time in a long long time during this month, I mean it has already happened and not out future or something, it has already happened. I do not know what else do you want from the month, it is obvious that it has been a very great deal and has been properly a bull month if you ask me.

Maybe you wouldn't want to call it a bull just yet, I can understand that, but it has been a green month nevertheless and not a stagnant one at all, definitely not. It is doing alright so far and I believe that we wouldn't see anything that is stagnant about a month that has 10%+ daily movements a few times within that month, which we had.

There is already a drop that happens not only in the month of February but also in the previous months but those drops are only small and prolly just a correction only. We aren't officially out of the bear yet but I think we are going to be once the price breaks $25k to $35k.

People are only optimistic for a bull run but it doesn't mean that they are not preparing for any bear possibilities. They do also. That is why they already have some saving with then and they will use it to buy more Bitcoins once it occurs. The game of crypto trading and investing won't be possible to be played if without those two cycles but there are still people who only likes to see one side of it.

To me it looked like a natural & healthy correction, as it seemed unlikely Bitcoin was going to simply carry on to the upside without a pullback, although I was expecting a little lower around $20.9K. Rebounding from where it did clearly left some bulls behind as many were also expecting slightly lower, which just went to show how bullish the sentiment was back then with price bouncing above support rather than within.

On another note last weeks -7.5% drop to $23.3K looked more concerning to me at the time, as it happened with reasonable volume and mostly within 4 hours. But then within a day price completely eradicated that correction with even more volatility. Now I see there are bearish wicks to the upside on Daily time-frame along with bullish wicks to the downside on lower time-frame, very much creating not much else but noise.


Not going to lie I was disappointed price didn't close last week above the August high of $24.3K, instead slightly below, but otherwise price is now comfortably above the 50 Week MA ($24.470) as it continues to decline which I think has had an instant positive impact. Regardless of the fact that last week it was at $24.7K and price closed below. If we keep knocking at the $25K door it will eventually break imo.

As you said this week will be crucial, either bullish with a close above $25K or bearish with a close below $24K, as the latter would be the second consecutive weekly rejection from long-term MAs (50 & 200 WMA).

Yeah..  That's why I was asking as it was all looking good before that sell down to 21.4k or so.  Which looked like it was a change in sentiment.  I was wondering why when everything started to look good and seemed like the market sell downs have been exhausted.

But then a couple of days later, everything started getting back to the program again and started going up.  It's now almost up to 25k.  This week is gonna be crucial.  If it breaks out of 25k and holds, I think we're in for a ride to 28k - 32k range.

I'm not sure if this will be correct but for me? I think February is another stagnant month for bitcoin as we will stay from 20-25k or at least will break 30k usd.
looking at how the market perform this month?
this is what is coming and happening .

I see a fractal for Bitcoin in 2019 and 2023 and it's possible to see Bitcoin move higher to $30,000 but I found a more important point. In 2019, after a good mini run, Bitcoin was pulled back and it ended 2019 with not too higher price than where it started.

I see it is safer to not bet that Bitcoin will rise more in 2023 and try to bet with higher risk in altcoins. If Bitcoin was pulled back, altcoins will be in blood path again. They are recovering and pumping too much from their bottoms.

If Bitcoin rises to $30,000, I will wait to see its pull back and can buy it about $25,000 again because I believe in fractals and it can not rise straightly to $69,000 in 2023.

We are still in bear season, so if there is no drop in February, it will happen this year so instead of expecting it not to happen, we need to prepare when it happens. Sometimes it's not so bad for bitcoin to fall back and the market to crash again. Assuming bitcoin drops to $17k this month, that would be an opportunity for those who want to own more bitcoin for cheap. I'm ready for anything because the bears haven't disappeared yet, so surprises can happen anytime.

I don't expect this February to be a bloodbath as bitcoin has already increased to $24k. After that, a price of $25 is about to be reached. And if there's a dip, the market can still survive and bitcoin can still survive, although there may be a dip. But the decrease will not be too drastic.

If the $21k-$22k doesn't hold up, that's going to send the price even deeper and I can't imagine how much the price drop will be. Maybe $19k, $18k, or even $17k or back to $15k again. Hopefully, that doesn't happen this year or in the following months.

Historically February is a profitable month for Bitcoin so I'm not expecting it will have bloodbath this time, I think it will be this March and the market is somehow exhausted. If $21k doesn't hold then I'd think we can see another $18k but if it holds I think we will go sidelines from that area since that's a strong support for Bitcoin.

It's been a decent month so far but overall I have the same outlook I think we are going to have a lot of sideways months ahead still.  Some certain coins have made decent runs this month but I can see a couple months of drop offs as well.  Next year with the bitcoin halving looming should jar the market open a little bit.  Then I think a monster run is ahead of us.

If at the end of February, the market ends with a big crash, it will be a big discount for us because we can buy a lot of potential coins. Those potential coins are likely to see a dip following the declining bitcoin price so that would be a good moment to buy more.

This situation is still hard to predict because the market looks like it's doing fine and even though bitcoin and altcoins have been corrected, the market can still increase a little. But that can change if negative news is released, which can change the market's direction. We must be aware of all that and prepare our money to buy if necessary.

I'm not looking so much at the positive growth of altcoins. Bitcoin is not yet in a real bullish mode, and the market still shows some resistance that Bitcoin could not pump big time to trigger the bullish run of altcoins. I think it's too early to expect a bullish altcoins market because, based on the trend, it usually happens when Bitcoin has already broken its current all-time high (ATH).

I'd never see a reason for the drops other than investors/whales are selling off their altcoins as the prices are in the pump. I'd see we are turning back to accumulation season again. This month altcoins are not performing so well but if the price of Bitcoin remains above $20k, altcoins won't even drop more.

Despite the sudden change in altcoins prices, I was still okay and I will still hold my ETH and BNB until the next bull season. In the current situation, trust is really important and most of all, to keep positive rather than been affected with the drops.

In next 24 to 48 hours, the market can have a very serious turning point. It can be a start of something worse for altcoins next week, altcoins will be bleeding a lot and they will be in another blood bath next week. I agree with you tokeweed.

It is not good signal from whales who can manipulate the market. I think market will tilt a lot in next hours but generally if we are not sure what will a next movement of market, it is very safely to exit position and wait for market movement and confirmation of its next trend before opening new positions.

Safety first. Safely protect our capital is most important. Market is always here and we can join it many times in future.

I mean just from looking at CMC past 7 day moves, very few coins are in the red, most of them are in profit right now for the past week. Which basically answers this question, but of course the month is not over yet, we have 10 more days to go and that means anything could happen, we may end up with a big drop and if that happens then it will be a blood bath.

But for now, it looks like a green day for everyone and the prices are higher. Of course not all of them are higher like the others, some like polygon are higher than what bnb did, but there are reasons for that of course. In the end, by a little, or by a lot, everything is higher these days.

It's looking likely that most alts will end up in the red against Bitcoin, but probably neutral or green against fiat imo. I'm still waiting for alts to get left behind once Bitcoin starts really pumping.


I see you posted this after Bitcoin's correction to $21.4K. Looks like time already answered your question, as can be retrospectively be seen as a natural correction back to support before further upside.

Yeah dunno...  It's really hard to predict these things.  From experience, I can say that I have the worst timing of the market.  Just a week before I started this thread, I was thinking of going all in ETH but somehow the market sold down and tanked.  When I started thinking the pump was just a fake out it went up really strong.  Lol.  Now it's showing signs that it's gonna be sold down again.  

Seems like it's better to wait and see for now and hope that it goes back down to the range it was in November.

I'd say it's quite the opposite, altcoins in general always follow the movement of bitcoin and bitcoin is raising its value quite steadily in these past few days.
I wish there'd be no blood bath in this month and few months coming, considering the fact that alts in general are already decreasing so hard few months in the past that further decrease doesn't make sense.

Bitcoin did a great pump in the past days, and the altcoins are also following that trend so there’s a higher chance to end February with a green candles and a good price.

There’s a lot of altcoins who recently enters the up trend and they are still doing good right now, try to look with other altcoins and you’ll see their percentage are higher compare to other projects, let’s be more positive and hope for the real bull run this quarter.

Lol seriously, as if the whole market waited for this topic to be opened before it could go back up again. Bitcoin is 24.5k again and everything else went up a lot as well. This is basically a proof that the market could always recover at all times very quickly and we should be quite happy and alright with whatever we have. I am not saying it is an easy thing nor a hard thing for it to recover but it is certainly a sudden thing.

You may think it took over a year for it to start going up, but the reality is that it took just one afternoon for it to start going up. So that means anything could happen suddenly and we should not be too pessimistic about the past.