Topic: Bear Market Reaches $27605 - Will the Downtrend Continue?" - page 4. (Read 640 times)
There seems to be no end in sight so far, there is no recovery going on at least. I guess it could start to recover soon because it has already gone down enough and people will focus on getting it back higher, but that doesn't mean that it will happen quickly, it may take a while for sure. I think it is important to remember that in bitcoin world the price of bitcoin could go down sometimes but it always recovers, however long it takes, days, weeks, months, even over a year, it will always recover. I know that it has been a while since we saw the ATH price and anywhere near it, and this October it will be 2 years, but I think it is important to stay hopeful and just keep on getting more bitcoins to hold.
^^, Yeah the price has dropped a bit again, from $27,500+ to now below that level. there are a lot of things going on right now, we have the attack on the Bitcoin with the ordinals and BRC-20 tokens causing the mempool to be congested and then the so called civil war between the core developers, miners and other entities.
And there are some individual that I suspected that might orchestrated this attack to cause fear and panic, and so far they've succeeded because the market is going down. Nevertheless, I do believed that it will just take one good news to turn the market around again. And this month is still plenty of days to go, so hopefully we can bounce back again to $30,000 levels at the end of May.
And there are some individual that I suspected that might orchestrated this attack to cause fear and panic, and so far they've succeeded because the market is going down. Nevertheless, I do believed that it will just take one good news to turn the market around again. And this month is still plenty of days to go, so hopefully we can bounce back again to $30,000 levels at the end of May.
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.
in the recent week, Bitcoin and other cryptocurrencies has been experiencing significant price drops after it reach an all time high of $30,000/$29,217.94in April.
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.
The current bear market is it going to be temporary or a long term? for my fellow investors out there, how are you managing during this downturn? are you still holding onto your assets or buying more?
https://cryptonews.net/20947614/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared">Bears Reach 27605 - 9 May 2023
I think this drop was just a small correction that happened after btc hit $30k. Don't worry friends because we are always waiting for entries to come in at low prices and this is the right time to do it. Indeed in the past two days we have seen btc have experienced a correction and I think this was triggered by the high increase in tx fees which caused the price of Btc to experience a correction. From the chart you shared i don't think the pattern will pressure us to worry about this correction i don't think Btc will correct to lower prices. Apart from that I hope you take advantage of this downward moment to buy.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.
The current bear market is it going to be temporary or a long term? for my fellow investors out there, how are you managing during this downturn? are you still holding onto your assets or buying more?
https://cryptonews.net/20947614/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared">Bears Reach 27605 - 9 May 2023
In this context we would like to continue buying during the correction as some of the important options are long term buy and hold. I think the bear market will recover soon in the coming months and it is quite something we are looking forward to seeing price move higher this year.
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.
In this context we would like to continue buying during the correction as some of the important options are long term buy and hold. I think the bear market will recover soon in the coming months and it is quite something we are looking forward to seeing price move higher this year.
Imho, I don't see any news that will push Bitcoin to break this current bear market. A real bullrun needs a catalyst to give confidence to everyone to buy more. At the same time, there is no bad news either that will dump the price again at below 20K. Only the increasing pressure on transaction dur to the ordinals is the only bad new on Bitcoin but it's not enough to create major panic in the price since this Ordinal user is spending a lot of fees that isnvery good for the Bitcoin miner.
There are times that Bitcoin halving doesn't give a major pump like what everyone expecting. It surely gives a price rally before halving but it correct fast once halving is over. The good news that follows the halving is important to continue the rally.
Halvening is still 1 year away, until then it will most likely be the sideways market, judging by the past markets. Now is a good time to buy if you can 100% afford to wait 2+ years. The short term remains highly unpredictable as always, so it's highly risky to do any short-term trades, because Bitcoin can go up or down by a lot very easily and very quickly.
I agree, it's just better to just buy at this point, no need to speculate if we are going to be $30k this month of May or remain at $27k and be sideways. And doesn't make sense to sell as well for short term profit, of course no one can stop someone from selling and make some profit margin.But if you look at it, after halving a bull run will have to happen eventually. So it's better to just accumulate at this point, practice DCA and just be mentally tough not to sell and keep stacking sats till next year.
Though the short term is not recommended, those who want quick profit can sell it when the price is back to $28k. But those who want to get big profits can hold it until next year or two.
in the recent week, Bitcoin and other cryptocurrencies has been experiencing significant price drops after it reach an all time high of $30,000/$29,217.94in April.
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.
The current bear market is it going to be temporary or a long term? for my fellow investors out there, how are you managing during this downturn? are you still holding onto your assets or buying more?
https://cryptonews.net/20947614/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared">Bears Reach 27605 - 9 May 2023
I think this drop was just a small correction that happened after btc hit $30k. Don't worry friends because we are always waiting for entries to come in at low prices and this is the right time to do it. Indeed in the past two days we have seen btc have experienced a correction and I think this was triggered by the high increase in tx fees which caused the price of Btc to experience a correction. From the chart you shared i don't think the pattern will pressure us to worry about this correction i don't think Btc will correct to lower prices. Apart from that I hope you take advantage of this downward moment to buy.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.
The current bear market is it going to be temporary or a long term? for my fellow investors out there, how are you managing during this downturn? are you still holding onto your assets or buying more?
https://cryptonews.net/20947614/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared">Bears Reach 27605 - 9 May 2023
In this context we would like to continue buying during the correction as some of the important options are long term buy and hold. I think the bear market will recover soon in the coming months and it is quite something we are looking forward to seeing price move higher this year.
Unfortunately until now the price has not yet headed for recovery, when it was March and the price touched $ 30k of course it was a great hope that the market would recover soon, unfortunately something unexpected happened because many were profit taking, those who bought when the price was below $ 20k could sell and get profit more than 30%.
If you think about it, this is also a very reasonable thing because those who bought in the past certainly expected more profits so that when the time came they sold to take profits. But what you also need to know besides that is that right now the price of Bitcoin is still at a very reasonable price because it is not too far from the high price in March. And the possibility of reaching more than March is still very possible if there is a further increase that is better than March this month in Bitcoin. 
Halvening is still 1 year away, until then it will most likely be the sideways market, judging by the past markets. Now is a good time to buy if you can 100% afford to wait 2+ years. The short term remains highly unpredictable as always, so it's highly risky to do any short-term trades, because Bitcoin can go up or down by a lot very easily and very quickly.
I agree, it's just better to just buy at this point, no need to speculate if we are going to be $30k this month of May or remain at $27k and be sideways. And doesn't make sense to sell as well for short term profit, of course no one can stop someone from selling and make some profit margin.But if you look at it, after halving a bull run will have to happen eventually. So it's better to just accumulate at this point, practice DCA and just be mentally tough not to sell and keep stacking sats till next year.
Halvening is still 1 year away, until then it will most likely be the sideways market, judging by the past markets. Now is a good time to buy if you can 100% afford to wait 2+ years. The short term remains highly unpredictable as always, so it's highly risky to do any short-term trades, because Bitcoin can go up or down by a lot very easily and very quickly.
in the recent week, Bitcoin and other cryptocurrencies has been experiencing significant price drops after it reach an all time high of $30,000/$29,217.94in April.
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.
I still hope for a recovery in the near future although I don't wonder why Bitcoin has fallen in price this month. Because in terms of numbers, the decline from the highest price last month to the lowest price this month is still not too far away. So I still take this downward trend as a very normal thing and don't think about the things that affect it although I still hope for a further bigger recovery in Bitcoin this month. 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.
Unfortunately until now the price has not yet headed for recovery, when it was March and the price touched $ 30k of course it was a great hope that the market would recover soon, unfortunately something unexpected happened because many were profit taking, those who bought when the price was below $ 20k could sell and get profit more than 30%.
After the news that one of the largest crypto exchanges (Binance) stopped withdrawing Bitcoin funds, the price of Bitcoin was seen moving down which broke the number $27,707, previously the same incident had affected the price of Bitcoin when the FTX crash, the majority of crypto assets fell dramatically by more than 50% in just a few days. Bitcoin has faced various challenges since its emergence in 2009, the corrections that have occurred have made Bitcoin grow and more and more global adoption has made Bitcoin able to pass all challenges with impressive uptime.
This dip should be taken positively, Bitcoin's history of always being able to weather challenges has signaled investors to hold or buy more during the Bearish period.
This dip should be taken positively, Bitcoin's history of always being able to weather challenges has signaled investors to hold or buy more during the Bearish period.
Tomorrow we will know whether we will break down or break up higher since it’s when the CPI is released. I they are expecting CPI to remain at 5% which is like 0.4% monthly gain.
Whether this beats or goes under is important since we still got those banks on the edge. If we get a low print like 0.2% then Bitcoin should rally. However if we get something like 0.6% then all stocks and crypto will come tumbling down.
Whether this beats or goes under is important since we still got those banks on the edge. If we get a low print like 0.2% then Bitcoin should rally. However if we get something like 0.6% then all stocks and crypto will come tumbling down.
The current bear market is it going to be temporary or a long term? for my fellow investors out there, how are you managing during this downturn? are you still holding onto your assets or buying more?
https://cryptonews.net/20947614/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared">Bears Reach 27605 - 9 May 2023
https://cryptonews.net/20947614/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared">Bears Reach 27605 - 9 May 2023
I never expected the bear market to take this long since it started experiencing a decline in price after hitting the $30,000 price. Being temporary or long now can’t be predictable by anyone but I never expected it to take this long before we experience a breakthrough in price to get between $31,000 - $33,000 in the first half of May.
This is not the first downturn in the market, so the experience is still okay as a big decline that could cause potential loss didn’t take place. I was expecting correction but it has taken much longer time than anticipated. For that reason, it’s still good time to buy more and not panic into selling out the already existed asset.
There are several reasons for the market to decline right now. You have the US government dumping coins like crazy. You have the threat of the mtgox coin distribution hanging over the market. Now you have a flooded mempool and developers talking about censoring transactions from the blockchain. There are good reasons to be bearish at the moment. However, I think all of these threats will be behind us within a year and it will be off to the races.
I just think of corrections like this as part and parcel of the market that maybe there's no need to panic too much. Being optimistic and calm about the current market situation will only lead us to victory, of course the bitcoin price may tend to fall before the halving but volatility can still benefit traders and investors. Market dynamics are normal, they should be handled wisely and avoid panic as much as possible.I really hope that there is a lot of budget that I can get during the price correction, of course I will use this to accumulate bitcoins and hold them stronger until after the 2024 halving.
We do have strong supports specially on 27k and if ever it would be having some breakouts then we might be seeing that $24k price once again and if ever it would pass through then 22k would be the next
and then 20k but i wont really be seeing this possibility considering that the price is really that holding up that strong. Rather than on making yourself having that in panic then it would be nice if you would really be just simply be accumulating or buying on these kind of times on which we know that price could really be having that recovery.
It is really just that people do make out conclusions that bear market isnt over and would become even more worst on upcoming days which we know that no one really knows on whats ahead.
Somewhat if you are really just that wise then you do know on what you should gonna do on price decline moments.
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.
There are several reasons for the market to decline right now. You have the US government dumping coins like crazy. You have the threat of the mtgox coin distribution hanging over the market. Now you have a flooded mempool and developers talking about censoring transactions from the blockchain. There are good reasons to be bearish at the moment. However, I think all of these threats will be behind us within a year and it will be off to the races.
I just think of corrections like this as part and parcel of the market that maybe there's no need to panic too much. Being optimistic and calm about the current market situation will only lead us to victory, of course the bitcoin price may tend to fall before the halving but volatility can still benefit traders and investors. Market dynamics are normal, they should be handled wisely and avoid panic as much as possible.I really hope that there is a lot of budget that I can get during the price correction, of course I will use this to accumulate bitcoins and hold them stronger until after the 2024 halving.
We do have strong supports specially on 27k and if ever it would be having some breakouts then we might be seeing that $24k price once again and if ever it would pass through then 22k would be the next
and then 20k but i wont really be seeing this possibility considering that the price is really that holding up that strong. Rather than on making yourself having that in panic then it would be nice if you would really be just simply be accumulating or buying on these kind of times on which we know that price could really be having that recovery.
It is really just that people do make out conclusions that bear market isnt over and would become even more worst on upcoming days which we know that no one really knows on whats ahead.
Somewhat if you are really just that wise then you do know on what you should gonna do on price decline moments.
There are several reasons for the market to decline right now. You have the US government dumping coins like crazy. You have the threat of the mtgox coin distribution hanging over the market. Now you have a flooded mempool and developers talking about censoring transactions from the blockchain. There are good reasons to be bearish at the moment. However, I think all of these threats will be behind us within a year and it will be off to the races.
I just think of corrections like this as part and parcel of the market that maybe there's no need to panic too much. Being optimistic and calm about the current market situation will only lead us to victory, of course the bitcoin price may tend to fall before the halving but volatility can still benefit traders and investors. Market dynamics are normal, they should be handled wisely and avoid panic as much as possible.I really hope that there is a lot of budget that I can get during the price correction, of course I will use this to accumulate bitcoins and hold them stronger until after the 2024 halving.
There are several reasons for the market to decline right now. You have the US government dumping coins like crazy. You have the threat of the mtgox coin distribution hanging over the market. Now you have a flooded mempool and developers talking about censoring transactions from the blockchain. There are good reasons to be bearish at the moment. However, I think all of these threats will be behind us within a year and it will be off to the races.
No mate, bitcoin is not in a bear market yet, and for you to say Bitcoin bear market entered a bear market in the last 3 days is false also, what you should note about fee hikes in recent times is that this is not the first time Bitcoin memopol will be congested and since Bitcoin network follows a pattern and cycle it now relieving to know that the current situation won't continue for long.
Just like in the 2017 network crisis, we shouldn't take this as bitcoin (DOS).
I cannot really believe that people are panicking over such a small movement, did they forget already the massive drop and all the things that happened during 2022? Compared to that this is nothing, and even if we touched the bottom again this should not be seen as a crisis but as an opportunity.Just like in the 2017 network crisis, we shouldn't take this as bitcoin (DOS).
After all how many people have been complaining during the last months that they missed the bottom? Well, this is the opportunity they have been looking for to at least do some DCA and lower the average price at which they bought their coins, but instead a great deal of those people are panicking over nothing.
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