Topic: Bear Market Reaches $27605 - Will the Downtrend Continue?" - page 3. (Read 571 times)
We’re probably at a real decisive point in this cycle. Are we transitioning into a new bull market as we now have less than 12 months to the next halving or are we still lingering in the last months of the bear market. Seems we had a sweep of below 26k & bounced a bit. Will be really interesting to see what happens in the next couple of weeks. Hopefully we can break 30k & stay above it in the second half of 2023.
And now the price is still at $ 26k and close to $ 27k. Let's hope that next week, the price will make it to $27k or even more. But even though next week the Bitcoin market will still experience a decline, that's also okay because it is good for us.
Wise investors know what they have to do because they already have many plans that they can do related to the situation that occurs in the market. And we as small investors, can also keep hoping that recovery will come soon so that we will see that our losses now can turn into profits.
And when there is a rebound in the Bitcoin market, we have the option to sell it and take profit at that time or keep holding the bitcoin until it can exceed the last ATH? If we want to sell bitcoin at the next ATH, we don't need to worry if this downward trend continues because it is an advantage for us. After all, we can buy at a low price.
Wise investors know what they have to do because they already have many plans that they can do related to the situation that occurs in the market. And we as small investors, can also keep hoping that recovery will come soon so that we will see that our losses now can turn into profits.
And when there is a rebound in the Bitcoin market, we have the option to sell it and take profit at that time or keep holding the bitcoin until it can exceed the last ATH? If we want to sell bitcoin at the next ATH, we don't need to worry if this downward trend continues because it is an advantage for us. After all, we can buy at a low price.
There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.
As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.
BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.
~snip~As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.
BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.
It does rely heavily on Binance, but it's the largest exchange in the world. I don't see much of a reason to worry; if something unfortunate happens to Binance, the cryptocurrency world will rapidly change for the worse. On the other hand, compared to yesterday, the situation has slightly improved, but personally
I am not saying that Binance will collapse, but instead think of Binance losing its breath and losing its top spot to another exchange. Maybe your BNB investment won't make you lose, but it will disappoint you by not yielding the expected return. What I worry about for BNB is that it is too dependent on Binance, while we can see Binance and CZ are having a lot of legal problems, and that makes me really worried for the future of BNB. I used to put a lot of faith in BNB too, I believe it can be like ETH but I am gradually limiting my investment in it due to their recent difficulties. Anyway, this is just my opinion and I know everyone has different investment vision.
Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.
Perhaps he thinks that the price can go parabolic or continue with it rise to $30k or even higher. However, we all know how volatile the market is, and it's hard to really predict where the market is going to be even though we uses technical analysis.
So now we already at $26,800. It is time to panic? I don't think so, we still have the next big support at $25k. On the other hand, this kind of drops could be good for us in the long run. I mean when there is a correction, it's going to be healthy as there could be more investors that can enter at this price or this is a good entry level for them.
We did hit $25840 for a brief moment, it's the lowest so far and the market may retest that lowest support line next week. It could be the last attempt before going up again. It's possible so prepare for it. What a trader should do I think is just avoid being liquidated in betting a bull in the futures market.
News to blame was said to be the debt ceiling crisis that is to be decided by officials. Markets going to be crazy.
Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.
Perhaps he thinks that the price can go parabolic or continue with it rise to $30k or even higher. However, we all know how volatile the market is, and it's hard to really predict where the market is going to be even though we uses technical analysis.
So now we already at $26,800. It is time to panic? I don't think so, we still have the next big support at $25k. On the other hand, this kind of drops could be good for us in the long run. I mean when there is a correction, it's going to be healthy as there could be more investors that can enter at this price or this is a good entry level for them.
So, let's begin with the fact that government selling of bitcoin is FUD and people repeating this around the forum should be ashamed.
Because the US government will sell the recovered thousands of bitcoins, of course it will be FUD and make them panic, but you have to realize that all of them have different batches of sales, not all at once.Really guys, are you so scared of the gov sales? They will happen at some point, but maybe the coins will be sold OTC, on auction. What if a whale decides to sell? It's all redistribution of bitcoin from large holders to small holders. It's been happening for years and it's going to keep happening as price goes up.
Those who have believed should not be afraid of what the government is doing. It won't affect the market into a big crash at all, but with some corrections happening, I think that's very reasonable, if they can take advantage then it's a good moment for us to add back its accumulation.Regarding whales, it is still difficult to predict whether they will follow the government's steps or will actually go against the direction, but the role of the whales will continue to strive for the price of bitcoin to rise even more.
Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.
If there is negative news then we don't need to panic, bitcoin will still have a different value from the others, if this month crashes then the next month can be green because of increased demand, but as investors they must be able to survive in any condition regardless of the FUD that will never disappear from its negative role.Stay calm, try to use it in a crash condition.
-snip-
and what you mentioned—almost $300 million worth of BTC was sold, provided that it was accurate information—has led to this market crash.
Sales actually started on March 14, 2023, with an amount of 9,861 BTC. and what you mentioned—almost $300 million worth of BTC was sold, provided that it was accurate information—has led to this market crash.
and will be carried out in 5 batches throughout 2023, and there are 4 batches left with an amount of 41,490.72 BTC.
of course, this plan will disrupt the market throughout 2023.
source: https://watcher.guru/news/us-government-to-sell-41500-bitcoin-1-18-billion-connected-to-silk-road
Personally, I don't really mind since I'm not actively trading or planning to sell Bitcoin anytime soon; on the contrary, I'm going to receive more BTC now. I was just a little frustrated. Moreover, I've been wanting to acquire some BNB for quite a while, and this seems like the perfect opportunity to do so.
If you are not bothered then you just need to relax and prepare your Fiat to buy Bitcoin even cheaper. You will get more coins at a low price and hold them for the long term.
If you want to hold BNB there is also no harm at this time, altcoin prices will get cheaper if Bitcoin goes down.
Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.
Perhaps he thinks that the price can go parabolic or continue with it rise to $30k or even higher. However, we all know how volatile the market is, and it's hard to really predict where the market is going to be even though we uses technical analysis.
So now we already at $26,800. It is time to panic? I don't think so, we still have the next big support at $25k. On the other hand, this kind of drops could be good for us in the long run. I mean when there is a correction, it's going to be healthy as there could be more investors that can enter at this price or this is a good entry level for them.
Why are you panicking with these small drops? Aren’t you aware what are Bitcoins capable of? Bitcoins have risen from nothing to a valuable asset. If you still question on Bitcoin’s capabilities, then you don’t have the rights to be a Bitcoin investor. I mean took this downtrend as an opportunity, and try to buy as many coins as you can now. Hold the coins, till the demand among the members to buy Bitcoins increases, and hence sell the coins and make profits. Easy as that.
So, let's begin with the fact that government selling of bitcoin is FUD and people repeating this around the forum should be ashamed.
Really guys, are you so scared of the gov sales? They will happen at some point, but maybe the coins will be sold OTC, on auction. What if a whale decides to sell? It's all redistribution of bitcoin from large holders to small holders. It's been happening for years and it's going to keep happening as price goes up.
It doesn't matter since there's a limited number of bitcoin in circulation and there's not enough of it even for all millionaires in the world to hold 1.
It seems we need that last little bit of panic, for people who bought thinking the bear market is over to get scared and sell, just like in 2019.
Really guys, are you so scared of the gov sales? They will happen at some point, but maybe the coins will be sold OTC, on auction. What if a whale decides to sell? It's all redistribution of bitcoin from large holders to small holders. It's been happening for years and it's going to keep happening as price goes up.
It doesn't matter since there's a limited number of bitcoin in circulation and there's not enough of it even for all millionaires in the world to hold 1.
It seems we need that last little bit of panic, for people who bought thinking the bear market is over to get scared and sell, just like in 2019.
There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.
As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.
BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.
The market is way more complicated than demand and supply. Corrections do happen occasionally, but sometimes they might be triggered by an event; in this case, it's possible that the sale of the confiscated bitcoin triggered the fall. Certainly, I'm not expecting the market to always have an upward movement; that would be unrealistic. Personally, as I mentioned earlier, I don't mind such corrections since I'll be receiving a higher amount of BTC, while this time I decided to take advantage of the lower prices and purchase some BNB. It does rely heavily on Binance, but it's the largest exchange in the world. I don't see much of a reason to worry; if something unfortunate happens to Binance, the cryptocurrency world will rapidly change for the worse. On the other hand, compared to yesterday, the situation has slightly improved, but personally As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.
BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.
The more such corrections, the faster we can reach a fast rally. Of course, there have been and will be such corrections in every period. The important thing is to organize our investment accordingly. What price do we expect and at what price do we want to buy? Sometimes we can't get the level we want, but according to the estimation of many, when the bull season comes 1 year later, our investment should be ready for the bulls. It goes up and down more these days. You shouldn't be stuck with them. We have to get used to these falls. What matters is how many bitcoins we have.
Correction only delays the rally because we will need to recover that lost price first before we start to rise again. Yes corrections are normal but there are times that it won't occur especially if there is a bull run event that is going to happen. Being organized is important so that you will not feel pressured and you will know how to respond in different market situations.We can get on the level that we want as long as we stay to be realistic. There are different guesses if when will the bull run comes. Some says next year or in 2025 but there are more people who believe that it will start within this year. For those who invest early, they are now ready for it.
Don't forget that we're not out of the bear season yet, even if bitcoin crosses $30,000, so it shouldn't be surprising to see a correction or a major decline. Let's not be too subjective and believe that bitcoin will never plummet again, the bear season is not over yet, plus the economic situation is still tough, anything can happen.
If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.
Bearish indeed continues and this time the price of bitcoin entered the $26,900 area. If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.
This correction occurred because a lot of bad news or FUD approached Bitcoin so market prices were greatly affected.
As in the case of the SilkRoad Bitcoin seizure held by the US government and after all this time the US government finally decided to sell 41,500 BTC and this resulted in a market panic.
Price drops like this must certainly be dealt with calmly, and make sure you have spare money to buy gradually when the price drops deep enough.
Personally, I don't really mind since I'm not actively trading or planning to sell Bitcoin anytime soon; on the contrary, I'm going to receive more BTC now. I was just a little frustrated. Moreover, I've been wanting to acquire some BNB for quite a while, and this seems like the perfect opportunity to do so.
There is no need to find reasons for everything because sometimes the news just legitimizes the market's movement. Instead of looking for a reason, I will just consider the movement of bitcoin, as we cannot expect bitcoin to rise continuously and never correct.
As I said too, if people know that when bitcoin corrects, we will have a better chance of getting more bitcoins, then why be disappointed? We should be happier.
BNB is an altcoin worth holding for the next bull season, but I prefer ETH over BNB, BNB relies heavily on Binance, and I don't think Binance will continue to hold the top spot in the market.
Today the market dropped again almost 4% and is at a price of $ 26k, it looks like the downtrend is still continuing in the current month, maybe you need something big, for example direct adoption from the company so that the demand for bitcoin continues to increase, we'll see if in May the price can still be above $25k or not because the challenges right now are huge.
Don't forget that we're not out of the bear season yet, even if bitcoin crosses $30,000, so it shouldn't be surprising to see a correction or a major decline. Let's not be too subjective and believe that bitcoin will never plummet again, the bear season is not over yet, plus the economic situation is still tough, anything can happen.
If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.
I think bear season is not something like that at all. I mean we are "out" of bear season as soon as it stops going down, if you think that just because we are under ATH that means we are in the bear season then you do not understand what bear means at all. There isn't just bull vs bear and nothing else in between, that's not how it works, we are not in the bull season neither that much is 100% true.If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.
I think we are in a situation where we are going to end up with just stagnant stage at this point. Bear is when price goes down, that's how it works, so if it goes above 30k then it means it is not in the bear season, and since we moved from 16k to these prices, we are already not in the bear season, as long as the price doesn't drop, that means we are not in the bear season.
Don't forget that we're not out of the bear season yet, even if bitcoin crosses $30,000, so it shouldn't be surprising to see a correction or a major decline. Let's not be too subjective and believe that bitcoin will never plummet again, the bear season is not over yet, plus the economic situation is still tough, anything can happen.
If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.
Bearish indeed continues and this time the price of bitcoin entered the $26,900 area. If you already know the price drop is an opportunity to accumulate and buy more, then you should expect bitcoin to fall again and fall more, rather than expect what is happening is fake and bitcoin will rise again soon.
This correction occurred because a lot of bad news or FUD approached Bitcoin so market prices were greatly affected.
As in the case of the SilkRoad Bitcoin seizure held by the US government and after all this time the US government finally decided to sell 41,500 BTC and this resulted in a market panic.
Price drops like this must certainly be dealt with calmly, and make sure you have spare money to buy gradually when the price drops deep enough.
Personally, I don't really mind since I'm not actively trading or planning to sell Bitcoin anytime soon; on the contrary, I'm going to receive more BTC now. I was just a little frustrated. Moreover, I've been wanting to acquire some BNB for quite a while, and this seems like the perfect opportunity to do so.
We are currently on daily support. We will see if it holds. Very strange to see crypto dump this much to be honest. And there was more issues earlier with regional banks but crypto didn’t rally this time.
Hopefully this area holds and we make our way back into the $30K. I still think $40k is possible in the next few weeks or months. There is just too many issues at the moment like the debt ceiling.
Hopefully this area holds and we make our way back into the $30K. I still think $40k is possible in the next few weeks or months. There is just too many issues at the moment like the debt ceiling.
You're calling it a bear market?
Well, that's what I thought. For me the bear market, or the worst of it, is over, but maybe it's a matter of semantics. Calling bear market now is not entirely incorrect.
I mean Bitcoin's price are still high if you may look at how Bitcoin opened the year it was below $20k, almost $15k at some point in January. As of this writing Bitcoin is trading at $26k a piece, but still I don't consider it bearish until it go below $20k again.
Correct. The current prices represent a 70% return. There is no major asset that has such a great return this year, as is often the case with Bitcoin.
After the attack in Bitcoin network, we might be expecting a pull back and I guess we are already starting to see it. Downtrend may continue but it may not be that sharp as investors are now gradually accumulating for the much anticipated bull run prior or after the Bitcoin halving.
The good news is that it seems that the attack is fading, and the fees are reasonable again. Let's hope that this will help the price to grow steadily.
As of today 9th of may, the bear market has reached $27605, leaving many investor to wonder if this downtrend will continue or if we should be expecting a recovery any time soon.
You're calling it a bear market? I mean Bitcoin's price are still high if you may look at how Bitcoin opened the year it was below $20k, almost $15k at some point in January. As of this writing Bitcoin is trading at $26k a piece, but still I don't consider it bearish until it go below $20k again. After the attack in Bitcoin network, we might be expecting a pull back and I guess we are already starting to see it. Downtrend may continue but it may not be that sharp as investors are now gradually accumulating for the much anticipated bull run prior or after the Bitcoin halving.
The $25,000 support is the most important support point, and Bitcoin is still above this price so far, but if it falls below this point, we will witness a downward trend.
On the other hand, if Bitcoin managed to close above 30k weekly, this means a positive sign and the continuation of the rise to new areas.
In any case, the long-term investor does not care about all these numbers, but the speculator must be careful.
On the other hand, if Bitcoin managed to close above 30k weekly, this means a positive sign and the continuation of the rise to new areas.
In any case, the long-term investor does not care about all these numbers, but the speculator must be careful.
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