Topic: any opinions about the recent btc price crash? (Read 984 times)

Bitcoin is a highly volatile market and as that I relate any price situation to its demands and so many factors influence the direction of the market such as bad news and the rest of other market situations.

Nearly in amonth BTC sideaway and stay at that price, that mean the support is strong and more high probability the price will bounce back. Waiting for another a few month, then BTC will rebound and altcoins will follow it. BTC and altcoin has potential to new ATH again. For TA is enough to use trendline to determine support and resistance area.

I believe the crash was bound to happen, there is no running away from a crash and it always happens, it is important to be ready with a stop loss and that's how I survived as well, I lost a good chunk of money but not as much as I could have and that is the good part, I personally got away with a good profit overall. I was one of the lucky ones, I got into bitcoin again at 6.5k last year, so I would have been in profit right now even if I didn't sell anything, the bottom was around 30k so if I sold there I would have still made nearly 5x profit as well, so I am feeling fine no matter what, getting in early is always better part of the deal.

However I sold mine at 52k as well and that is not a bad part neither, if you have a stop loss and you know what you are doing then crash doesn't hurt you because that will eventually happen, I changed my stop loss constantly the higher it got, it was first 10k and latest was 52k, so I arranged it again and again.

At the moment when seeing the Bitcoin market, the facts and events are being contrasted, on the one hand there is the war that China has against the Bitcoin miners and on the other hand there is very positive news that is the adoption of Bitcoin in El Salvador. , this neutralizes feelings, however, organizations from all over the world will speak out and the FUD will start much more, the IMF is already speaking out and they do not like at all that El Salvador has made such a decision, so there is an inconsistency, it is Bitcoin investors are expected to be confident enough not to panic.

It all depends on how the Bitcoin bulls react, I hope they can defend the price level and this time the battle is won by the bulls.

I agree, and I think it is not going to be the last time neither, they are always doing this and they are always after making the price go down more and more and more. I think I have seen at least 10+ times when "china bans bitcoin" news and this is not going to be last for sure. Most of the time they do this when the price goes up, I remember there was a HUGE ban news that went around everywhere back in 2018 times early days and they banned ICO's, no Chinese person could contribute to ICO's and that was the start of something very horrible because they realized they can just ban anything they want and even though its china and they are a dictatorship and can do anything they want without worry (they literally are doing a genocide right now and nobody cares) BUT crypto is not something they can ban. So ever since that day they hated bitcoin and keep "banning" it but nobody really cares to be honest, they just drop the price but people still use it.

The fact that the market remains volatile, we can definitely experience a market crash and pump as well. We have nothing to do with this situation but to willingly accept it, in fact, it rises up again someday. Naturally, everyone who has been in here for many years has already known the current situation and they are preparing for this. But somehow, for the newcomers, this will be a big surprise as they believe and think that it all comes in bullish, not like this(market crash).

I use the RSI indicator and the stoch RSI  only, and indeed everything if you set it on a large Time frame everything is in the overbought zone,
of course this is what makes the Bitcoin price experience a big decline, and take it easy, I believe this is a correction not a bear market during a bullish cycle,
correction is normal mate, dont worry, just hold your coin and enjoy.

I agree with you, because according to PlanB what is expected for the next important bullish movement is to achieve that target at $ 100k. Then there is talk of a possible price of $ 288k, which is very possible, but it would be something great and crazy, however some factors can influence the market, in this case the FUD of important people influences a lot, we already know the Elon Musk FUD, but I think one of the biggest important beings in the world of the economy like Donald Trump said that BTC was a scam, it triggered the sell-off by some weak hands that is still feeling its effect. ´Donald Trump influences his followers a lot, and I think he can do a lot of damage, although there are also good things like that of El SalVador and that of the politician in Brazil who put laser eyes on Twitter, emphasizing that he is a totally believer of BTC.

After the crash last week we are only will see side way for 2 month or so. The reason is : 1. Whale acumulated phase 2. The market gaining trust first and making new support here. After that if we still in this price. We could probably see another bull run. My target for end of year is on range 100k-$120k

The price drop is more of a correction than a crash. If look at old trends, bitcoin always had a mid year bear market especially during bullruns. Trend line looks like we will touch 80k end of year

At this moment the price value of Bitcoin was already drop around 46 to 48% if I am not mistaken from 60k$ almost recently now its
around 35k$ something. This happened probably because this was want the whale manipulators like to be happen. And their goal and plan was already achieved and for sure in a little bit longer the price of Bitcoin will definitely spike at the moment we didn't expect to happen.

Oh well this recent price crash didn't just happened on bitcoin alone but I guess most of the crypto were being affected. From the consecutive price climbed of bitcoin, ethereum and binance all of a sudden when the market crash passed by it'll made those coins dropped tremedously. But as what we all expected to bitcoin, it is now slowly recovering feom this sudden price drop and so it happen to other altcoins. This price correction is so good chance to grab on to invest in your favorite crypto token.

I know another place that doesn't allow people to put orders %50 lesser or higher than the current price, this prevents a chance for a sudden crash or a huge hype all of a sudden however as long as there are other places that does this, people could use that chance as an arbitrage opportunity and that would be even worse for that place.

I believe as long as you do not allow any fraud to happen then you do not have to make any changes compared to other exchanges like limiting the orders. What we should do to limit manipulation is to educate people and make them realize that they should not trade based on what others say, there is really no reason for selling or buying just because someone tweeted, without educating people about this we are not going to have any better results.

Exchanges do try to prevent a lot of these activities. I remember in 2017 when I was an active member on Bittrex Global, they would introduce new measures all of the time to prevent this kind of fraudulent trading practices. First they did not allow you anymore to make limit orders that were too small (bots can make 1000s to crash the orderbook). Then they did not allow you to set price more than 5% different variance from the market current. So they do try.

Instead of thinking about the falling price of Bitcoin, we are better off buying Bitcoin in a situation like now to collect as much Bitcoin as possible.
After that it remains only to wait for the Bitcoin price to recover and rise to the peak price again, that's our opportunity to be able to sell Bitcoin
and get profit. Sometimes a simple strategy like that does not occur to us, because we may panic seeing the price of Bitcoin continue to fall.
Even though Bitcoin price is very volatile so its movement is very difficult to predict, we ourselves must be able to deal with it by doing
the simple strategy that has been mentioned.

  There are a number of reasons why the Price went down so far, #1 Several Billion dollars were liquidated when a hedge fund went belly up.   Then there was a number of exchanges in foreign jurisdictions that closed due to fraud.  This created the down trend, that caused margin traders to go under water.   Which caused a further liquidation and margin calls for over 5000 traders which caused the price to go down more.

   None of these things had anything to do with Tweets by a self important billionaire.

  Then China made a move against bitcoin, this created further liquidation because it became a problem for companies in china to hold bitcoin.

  More Liquidation.

  Again had nothing to do with Twitter.

  What is happening now is price manipulation.

  You can see it happening on the order book.

  Until the exchanges instantiate a new algorithm to reduce the ability of bad actors to manipulate the price by reducing the time in which they are able to place orders below the prevailing price point we will continue to see the price artificially lower than it would normally be after a sell off.

It is clear what they are doing is bidding lower than the flow rate and thus reducing the bids of other sellers.

I have seen this on both sides of the ledger.

When the price goes up too far they go to the other side of the ledge and they SUCK all the buying force out of the top and this further reduces the price.

Until the exchanges take action to prevent or at least greatly reduce the ability of these people to influence the price everyone else is going to suffer in this type of market.

 

I agree on that speculation is always an speculation and changes is always happening, crypto is different and we all know that it is high on volatity that makes no one get an easy pofit on just buy and selling. There is no another strategy or option behind the crashing market no other than buying or filling up our bags and wait for the next opportunity to sell it with pofit, it is simple strategy that also depends on our luck we really need to be wise.

No one could ever predict on what would be the things that will happen ahead this is why we do continue to make out speculation basing up with several factors.
-Presumptions
-Current market condition towards sentiments neither on positive or negative
-Hypes and Fuds
-No reason for such movement.

Its really hard to determine on what would be the next move because of these main factors.This is why we should really be wise on making out decisions
in regards to our positions.

it looks like Bitcoin is still struggling to break the strong resistance at $ 40k- $ 42k, if this resistance is passed then for the $ 100k it might happen,
yes, this will be a long journey for bitcoin, FUD and Good news to complement each other in the current situation, Who knows who will win,
what do you think, mate? Bull win or bear win?

- Yes, the mining factories in China are starting to shut down and a rather sad result for the market is a relatively bloody farewell party but the next information that we should update is that these factories are setting up a new system in the US, maybe this will be a new hope. Elon Musk is also hinting at bitcoin again, the next market is probably going to be very interesting