any opinions about the recent btc price crash? - page 6.

Viscore

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Quote from: luckypiglive on April 23, 2021, 10:17:23 AM

Hey,

What is your opinion on the bitcoin price crash? I am trading with the Bill Williams trading system and all looks good on the weekly time frame, and on monthly its like nothing happened! what do you think guys and what indicators do you use?

cheers

Just continue using the weekly time frame because if you take seriously the current corrections, it only affects your trades and might cast you out.

I usually use the candlestick indicator but considering the market volatility, everything still unpredictable. The crash, price corrections...we are all seeing this most of the time and we have to expect this seeing again in the future. So if you are willing to take the risk in trading, then you must have to consider facing all of these things.

tippytoes

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Quote from: Fatunad on April 24, 2021, 04:45:56 PM

Reason? This might talking about
"Bitcoin falls below $50,000 amid tax-proposal anxiety"

https://www.livemint.com/market/cryptocurrency/bitcoin-briefly-drops-below-50-000-amid-tax-proposal-anxiety-11619147211183.html

and also with that hash rate drop
https://news.bitcoin.com/bitcoin-hashrate-drops-xinjiang-blackouts-blamed-btc-price-slides/

They may be contributors in what is happening in the market. But we can't tell for sure if they are the major reasons in this correction. Or is it just time to have this correction as we are being spoiled of this continuous increase in the market? We know, correction is just around the corner but a lot of us hope that it will continue to increase, but guess, it is time for this drop. And people who are asking this kind of question. What are their expected answers here? A consolation that we will go up again?

DarkIT

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Quote from: TheUltraElite on April 24, 2021, 01:07:26 AM

Quote from: luckypiglive on April 23, 2021, 10:17:23 AM

What is your opinion on the bitcoin price crash? I am trading with the Bill Williams trading system and all looks good on the weekly time frame, and on monthly its like nothing happened! what do you think guys and what indicators do you use?

The Tax policy changes by Biden is being said to be the reason behind the crash.

Although my opinion is that such news bring about the obvious need for a correction in an overbought market. It is natural and should be carefully taken advantage of. This drop is temporary and those who have not be able to buy because price was as high as 64k USD/BTC, should take the opportunity to buy at this lower strata.

One might not want to buy right away but wait for even lower prices which is logical as well.

The use of indicators is limited. TA is not always correct but there was the probable indication of a drop due to any reason because the asset was overbought. You can use any indicator you want, there is no hard and fast rule about them. But what actually matter is your ability to use the market movement properly. You buy at the FUD and sell at the FOMO - no indicator will help you to that extent. Those decisions need to be made by your skills.

It was a main reason for the dump in bitcoin price over a long period.Whenever the price of bitcoin had reduced, it will back to normal or original price in a short period. But in this case the price dump was not recovered yet. It was unacceptable news. Most of the active traders also became a passive one now. It only recovered with a period of one more week.

Fatunad

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Reason? This might talking about
"Bitcoin falls below $50,000 amid tax-proposal anxiety"

https://www.livemint.com/market/cryptocurrency/bitcoin-briefly-drops-below-50-000-amid-tax-proposal-anxiety-11619147211183.html

and also with that hash rate drop
https://news.bitcoin.com/bitcoin-hashrate-drops-xinjiang-blackouts-blamed-btc-price-slides/

terrorJR

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The simple answer is, it is in the very nature that when Bitcoin reaches its peak price, there will be a bigger problem that it deliberately collides with the highest price of bitcoin. from the past until now the pattern of dropping bitcoin prices with negative news is a still effective strategy to trick big holders into releasing it cheaply.

batang_bitcoin

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I have no indicator but just getting updated with the news or if there's a flash crash, the reaction should buy some more. It's all that I've got to do whenever bitcoin crashes. If bitcoin recovers to $51k and so, I think that the flash crash has just taken the newbies money and they've bought already during the dip. It's just some whales have cashed out and that entirely made them more wealthy again. Such crashes shouldn't be feared of if the plan is to long.

LUCKMCFLY

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Quote from: luckypiglive on April 23, 2021, 10:17:23 AM

Hey,

What is your opinion on the bitcoin price crash? I am trading with the Bill Williams trading system and all looks good on the weekly time frame, and on monthly its like nothing happened! what do you think guys and what indicators do you use?

cheers

What happens is that this is a natural fall, a setback that is normal in the markets, many investors and veteran investors like Peter Brandt think that it can reach $ 43k, which represents a 35% retracement after having reached its ATH, he does not panic, he just decided to go ahead and wait, normally this kind of confidence is because they must have privileged information, that is, they may know that the price will be reaching their ATH very soon and possibly have another one, at least. PlanB gives very good hope, for PlanB April is a very bullish month by nature, but we must also take into account Coinbase's foray into Wall Street, in some way many investors can be guided according to this participation.

At the moment it is very difficult to be governed by an indicator, or a tool, I think the best thing is to be patient since there is a lot of uncertainty in the market, according to PlanB, it is most likely that this 2021 will continue to have a more bullish trend on the part of Bitcoin . I invite you to read the article: https://cryptopotato.com/this-was-not-the-top-of-bitcoins-2021-bull-run-according-to-planb/

maxreish

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That Money Laundering clip reports that push US Treasury to investigate this act. Its one of the reasons why bitcoin dumped below $50,000.

If you are a long term holder, you wont be panicking about the recent dump. This may be some kind of corrections, the market will gonna recover and will go back to the bullish trend. Of course, an opportunity to most of us to accumulate more for this bearish season.

Emitdama

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Quote from: luckypiglive on April 23, 2021, 10:17:23 AM

What is your opinion on the bitcoin price crash? I am trading with the Bill Williams trading system and all looks good on the weekly time frame, and on monthly its like nothing happened! what do you think guys and what indicators do you use?

Lol the truth is that nobody knows the answer to this question that you have asked, and as usual all they are going to be doing is to be guessing the answer to it. Some have said that it has to do with Biden and his tax policy changes, then there have also been those who said that it is something that has to do with the lights out in china ,since a lot of bitcoin mines were affected by the lights out.

I don’t know the current situation of things there, but hope it got better. Then I have also seen other things being said, but I am not sure about them.

luckypiglive

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;)looks like you are right and is recovering. I was expecting to drop to 40+\-

Husires

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Deeply Red charts is the better place to buy more bitcoin. Think of each drop as buying bitcoin at a cheaper or discounted rate.
The price has stabilized at $ 48,000, which is a psychological barrier. We will not get any further decline, and we are likely to return to $ 55,000 levels soon.
Buy the dip and enjoy free gains.

death69

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Buy low, sell high. That is my opinion. What does your weekly indicator tries to tell you? Do you trust your instinct and your system? As far as I know, in order to be a successful trader, you need to believe yourself and the tool you use to enter the battle with the market.

Im only in love with price action. Sometimes I read other techniques so as to help me realize chart patterns which I cant recognize with price action. However, the more tools you use, the more confused you are. Try to make your charts as simple as your breakfast

Theb

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If we look at its chart you will see that ever since Bitcoin has taken off you will see that its volume isn't really supporting the price rally making its "bullishness" a lot weaker. I've said this before that without any kind of increasing volume there will be no support for any kind of price range specially if it continues to go up and up without any volume supporting it, every new ATH will just make it weaker and weaker and making Bitcoin more susceptible to price crashes and corrections that is why we are seeing a lot of them lately.

bitzizzix

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I don't care about the bad news about bitcoin these days, because whenever there is a lot of good news before, there will also be bad news to come, and events like that are bound to happen in any field or industry.
So for me it is normal and depends on the individual how to respond and not to worry, and what happens in the market is better to HOLD and take advantage of the decline to make purchases and hold for the long term.
I am still optimistic that the 100K achievement can be realized this year.

goaldigger

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Quote from: Lordhermes on April 24, 2021, 06:02:31 AM

Like I said earlier there is nothing to worry about, this crash usually happens and this is not the first time it's occuring, there's a thread that highlighted the causes of the crash, here are the reasons behind the drop.

Quote from: so98nn on April 23, 2021, 10:30:41 PM

The main reason behind the drop are as follows:

1. China mine coal explosion
2. Total blackout of electricity affecting the Bitcoin Mining Operations
3. Drop in Hashrate as much as 24% thus mega effect on blockchain confirmation
4. Most of the transactions are stuck on the blockchain and thus the movement of money has stopped (progressively).

It's just matters time for market to recover again, never get feared.

So many reason for the dump and the panic is still in the market, after that we'll see a slight recovery.
This happened already when bitcoin hit the price of $20k before, so many negative news but look at now, the price made its new all time high. Yes time will come for the recovery, we just need to wait for it and be patient, this is an opportunity to buy grab it now.

Lordhermes

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Like I said earlier there is nothing to worry about, this crash usually happens and this is not the first time it's occuring, there's a thread that highlighted the causes of the crash, here are the reasons behind the drop.

Quote from: so98nn on April 23, 2021, 10:30:41 PM

The main reason behind the drop are as follows:

1. China mine coal explosion
2. Total blackout of electricity affecting the Bitcoin Mining Operations
3. Drop in Hashrate as much as 24% thus mega effect on blockchain confirmation
4. Most of the transactions are stuck on the blockchain and thus the movement of money has stopped (progressively).

It's just matters time for market to recover again, never get feared.

michellee

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Nothing to worry about because it always happens many times. As usual, I am still trying to trade bitcoin pair altcoin or bitcoin pair usdt and search which pair can help me make a profit. But I admitted that this recent day is hard for me to get the right coin as many coins are not moving as before, but I won't give up because I know that I need to try hard.

I am sure bitcoin will increase and the price will start to rally. We need to have patience and do not give up searching for the potential coin that can bring us profit.

Kittygalore

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My take on this crash is that it is nothing to worry about but instead it is the golden opportunity that people have been talking about in terms of buying bitcoin at a lower price.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: luckypiglive on April 23, 2021, 10:17:23 AM

What is your opinion on the bitcoin price crash? I am trading with the Bill Williams trading system and all looks good on the weekly time frame, and on monthly its like nothing happened! what do you think guys and what indicators do you use?

The Tax policy changes by Biden is being said to be the reason behind the crash.

Although my opinion is that such news bring about the obvious need for a correction in an overbought market. It is natural and should be carefully taken advantage of. This drop is temporary and those who have not be able to buy because price was as high as 64k USD/BTC, should take the opportunity to buy at this lower strata.

One might not want to buy right away but wait for even lower prices which is logical as well.

The use of indicators is limited. TA is not always correct but there was the probable indication of a drop due to any reason because the asset was overbought. You can use any indicator you want, there is no hard and fast rule about them. But what actually matter is your ability to use the market movement properly. You buy at the FUD and sell at the FOMO - no indicator will help you to that extent. Those decisions need to be made by your skills.

airdata

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Today i see that some negative news is come on market regarding Crypto currency. And many experts said that this news is the best reason for bitcoin dumping and for this Bitcoin all crypto market has crashed. But market will recover as soon as possible.

Topic: any opinions about the recent btc price crash? - page 6. (Read 984 times)