Topic: Bear Market Reaches $27605 - Will the Downtrend Continue?" (Read 569 times)

About 3 hours ago the price of Bitcoin reached $ 28K and now fell again to around $ 27800, of course this is a sign that the bear market is not over, but if we want a big profit then this is a good opportunity to buy more so that when there is a bull run then it is easy for us to get profit.

Who would not like to get rich instantly? I am sure that even the many billionaires out there would have preferred for their journey to have been smoother and to not have encountered the huge amount of obstacles they had to overcome.

However unlike the newbies of today I knew this was not possible, or if it was I needed to rely on my luck for such a scenario to happen, so this scenario was very quickly discarded from my mind and I decided to take a long term approach to this market, a decision which has been proven to be the correct one for myself.

Saving is a good idea especially since you'll definitely need the money for something urgent. Planning to save money from income for investment plans may have become commonplace for anyone who has a fixed income every month, but I tend to agree that saving plans don't have to be forced and it's not a top priority. You can save a few percent of your monthly income, but your first priority is making ends meet.

I also save for an investment plan, but I don't do it regularly because my needs increase. Investing in bitcoin will hopefully give them decent returns instead of depositing all the fiat into bank account, but of course any risks they should consider wisely.

The bear market continues because the current price is around $26k, many are predicting that if the price falls again below $25k then there is a chance to continue to fall below $20k, we will see if in 2 or 3 months the price will go up or down, I think the position year-end prices really depend on prices 2 or 3 months away.

I do believe that we should be having some money aside, either bulk money that we have aside or just income that we can put into the market anytime we want, that would be lovely. In that way we are going to see an increasing price as much as we possibly could and that would be lovely, it will give us a whole benefit. I am not saying that it should be like that forever, obviously the income may stop one day, but if you could keep on investing time to time here and there that would be lovely.

I believe that we should be considering this a lot more, it would be helpful that we could see something benefiting for a long time before we stop. I believe that it would be a lot better and should be considering the best we possibly could until we are rich and then retire.

Predictions are just predictions, nobody knows what will happen. I see many people believe bitcoin will hit $30k in April, and then they move to May, and we're almost out of May, but bitcoin hasn't hit $30k yet. So I think bitcoin prediction for each month is really unnecessary, we should just take it as a fun prediction, don't expect too much or focus too much on them. What we should focus on is finding ways to earn extra income, increase bitcoin accumulation and hold until the next bull season.

Personally, I hope this state of the market lasts so that I have enough time to accumulate as many bitcoins as possible. If bitcoin rises to $30k too quickly, it will leave more regrets than joy.

Or just try to reshuffle their investments around and squeeze profits to other coins. So yeah it's not that bad as long as you know what you are doing and you are experience with it. Otherwise if this is the first time that you are going to try it, then it might be a bad approach as you can bury yourself in it and lose more money in the end. It takes a lot of courage for newbie to enter this strategy. So I might be thinking that they are just affected by the FUD and just selling at a lose right now. The only thing they can learn from it though is experience and as they go along the way, it might be good for them in the end.


It's seems to subside though, lots of stable coins are not 'stable', unlike before wherein majority of them have de-pegged. Anyway, this May may not be a good month for all of us, but we should still stick with the market. Don't forget that we are still in the bear market. So technically, prices will tend to go down hard anytime.

Today May 25, Bitcoin market currently stands at $26470. The volatility that has started in the market seems like the Bitcoin market could go further down. A few more days of May are left, the market may not pick up for the next few days. Many investors predicted this May that the Bitcoin market would reach $30,000 again. In that hope we looked for a way but failed. But the market may stay at $30,000 in June. Do you think Bitcoin will go up in June or stay between $20,000 and $23,000?

Currently bear market is not short term. But we are still out in a bear market. During this recession, I am saving some of my income from here for investments and spending some for my family expenses. I am holding my investment during this investment and investing more to strengthen the investment. But I am hopeful that I will definitely succeed.

Selling at a loss may not be a good idea as long as you don't really need the money right away. I tend to offer you to use savings or reserve funds instead of selling at a loss as we all believe a downturn is only temporary and a market recovery is possible after some time. I agree to become a pro trader you have to be prepared for any market conditions, but you shouldn't sell at a loss as long as you have other options. I don't mind that if you're looking to sell, but if you're accumulating on dips and waiting for a recovery then that's a real pro.

I tried to check the market conditions, yes the bitcoin price grew well today after -3% correction the previous day.
I believe the price recovery will gradually improve and will probably happen before this month ends. Agreed that we should quickly ignore short term volatility if the bitcoin we have are long term investments, but traders can adjust their strategies and price volatility as I believe they can get worth it returns too.

That's while when we are making analysis of bitcoin market we don't have to be making the predictions over sure, the value of bitcoin changes and since the values changes we have to know that if the value of bitcoin reduces this month theirs any possibility that the value will can be uptrust any time or any hour.

If they are affected by a FUD it can mean that they still lack in knowledge but once they became a pro, they won't complicate things anymore. Selling at a low price is not bad as long as you are still in profit and it's even normal for a trader to sell at a loss. They can still trade again and make that money they have lost earlier. Stable coins are not really necessary. There are no stable coins before but we can still be able to buy a crypto.

There is also a risk in stable coins nowadays so we must be vigilant when we hold them. Indeed the market is getting stable lately. I think that indicates that we are now ready to go up again so for now, its safe to say that the downtrend have stopped.

I never talked about a negative trend, I talked about a negative movement on the market, which is what is happening, since the first days of May the price has done nothing but to go down and now we are getting close to the 25k support level, will we go below it? I doubt it but it is a possibility as it seems this correction could be larger than expected, still I am not worried as this is going to give us the chance to once again buy bitcoin for a slightly better price and get more bitcoin in exchange for our fiat.

This habit occurs because they are consumed by fud issues which make them worry in making decisions.  Selling at a low price is a pretty bad choice because they think the price will drop deeper even though there is only a small correction. Indeed, in the past few days we have seen a more stable btc price movement where the price movement occurred at $ 27k and fell to $ 26k.

Therefore, as wise traders, we must have a stable coin or Usdt to take advantage of the opportunity to buy and enter gradually. Market conditions will take time to recover so we have to be patient and not be swayed by the fud news circulating out there. Optimism in one own establishment that can grow self-confidence when the market is red like today.

But I guess, many traders are still learning as well and they have a hard time responding right to the situation. Most of them are selling because of worries that it turns down low (cut-loss strategy) which is supposed not to do that. It is very important that a trader must know how to hold as well thinking that the market design isn't consistently growing high, it drops also and even it takes a little bit longer before it recovers. Now, if we just keep using this strategy, we end up losing more.

I guess that's how experienced traders are doing right now. They are buying when there are opportunities while the market is falling,
having an idea that the market can bounce back and give them short-term gains.

It's a matter of knowing how to react and how to take the risk when you see good opportunities to buy, instead of selling, it's better to deal with a good' research first.

The decision always relies on how you do your DYOR, as it will bring you the chance to earn decently.

Although I agree with what you're saying here on longer-term time-frames, this theory is only based on time-frame you are looking at. Certainly the past two months has been relatively trend-less as it were, but at the time of creating this topic in the short-term there was a downtrend arguably on the 4hr time-frame for example. As the OP said, they were talking about the past week as opposed to the past month or two.

Also ignoring prior price history and looking solely at the past month, price has made lower lows and lower highs, which is the standard structure of a bear trend in the short-term at least. Likewise in the longer-term we have seen higher highs and higher lower, so again this comes down to the time-frame you are looking at as to whether price is in an uptrend or downtrend (as currently both theories are true).


I think the other way to look at the situation is that price is unable to get back above $27K that was previous support for 2 months. Sure it's stopped at $26K for now, but also only going sideways below previous support as it turns it into resistance. Given that it's not going to stay within $26 and $27K forever, it look a lot more likely that $26K will break as low-level support than $27K which is becoming significant resistance.

I'm not suggesting price is going to go significantly lower, but a re-test of $25K looks increasingly likely, even around $23K where there is more significant support.

It is still too early to talk about a downtrend. There has now been a correction, but the fall has stopped at 26k. It seems to me that something interesting is about to happen once investors from China enter the market. Volatility should show up again. So far, the market is calm after the correction, but there is a feeling that the trigger for a new movement should appear soon.

A "trend" requires an ongoing movement in the market that takes a long time not a sudden drop that lasts less than 24 hours that takes the price from $31k to $27k and then remains there. The only "trend" that we had in bitcoin in the past two months (from roughly March 15) is sideways not bull nor bear.

Everyone involved in this market wants to get rich quickly, including us, don't deny it. But when we entered the market and had real experiences, we realized that things are not as simple as we thought. I think new people today are no different than we were then, and they will mature over time as they go through a bear season on their own. Similar to the OP, if he can survive this bear season and experience it, I believe we won't see the same questions from him in the next bear season.

Buyers already had 80% profit from bottom in less than 4 months. i cant say bear market is over but how come bitcoin went up 80% in few months if its bear market?

It is true that we all began somewhere, however I am not so sure if this is just my perception or if this is true for the newbies of today, but it seems as if many of them come to this market hoping to obtain huge profits but at the same time they know nothing about trading or this market in general.

So even the most common scenarios and occurrences confuse them and they make all kind of mistakes, mistakes they could have avoided by simply reading a book or two about trading and by taking a quick glance at the price action we have witnessed over the years.

While there could be some traders out there which could be mad about the possible downward movement it could come, I think there are many forum members that recognize that there is a huge resistance at 30k and a downward movement will be a good outcome for them, as it would allow them to buy some bitcoin for a cheap price, however I also think that such a downward movement cannot last for long as the demand will grow massively if the price was below the 25k support level.

Trading sideways is the pattern right now, unless we will have a break out run to at least go to $30k or higher. But if you read technical signals, it doesn't look good and it's better to expect that something worst is going to happen, like going down to lows of $25k.

I know we don't like to hear that, but if that happens then take that as a opportunity again to fill our wallets. Yes, we are still in the middle of the bear market. We will have at least a year to experience this as the we will have halving around May next year. So that's where the start of a bull run though, after that activity. So we need more patience with this downtrend and stay calm.

The price seems to be ranging at 27k at the moment and it does not seem as if there is too much of a chance to reach 35k as bitcoin has had problems reaching 30k and keeping itself above that level, however I do not find too much of a problem in something like this as this gives us the opportunity to buy bitcoin for a decent price, and if those prices can be maintained for long then this is an opportunity we cannot let go as I think it is likely the price could close this year at a level significantly higher than what we are seeing right now.

We know once the bear was over once the BTC price returns to $69k again or increase more than that. Corrections doesn't only come during a bear but it can happen in any market conditions. Once we cross $30k, I don't think the price will correct because it already happened last time.

Another correction might happen again once we hit $35k or more. The definition of correction is only a small decline but a major decline is already a bear. I don't think it will happen as well because we are already at it. The best time to buy is when the price is low but many of us are still hoping that the price will rise more than the dips because increases are much rare.

Network congestion due to unconfirmed overcrowding could also be a trigger, but I personally still don't think that's the only trigger for bearishness. Because bearish itself usually occurs only when there are fewer buyers compared to a greater number of sellers at the same time, making it difficult for prices to increase or recover significantly.

Actually the price of Bitcoin hasn't really recovered significantly, even though yesterday it almost touched $28K again. But today it corrected again by a small amount, so Bitcoin also hasn't really recovered in this month although it's also not worth calling it bearish because a correction of one to two percent is very normal for Bitcoin.

Today, May 16, the market is currently at $27,200. The volatility that has started in the market is leading to a complete bear market. No matter how bearish the market is, the market will not stay in a bearish position for long. The market will go up soon.
From my point of view I can say that the market will not stay in bad shape for long. The market will soon cross $30,000. I still hold my invested assets. But right now I am not able to invest much, I am investing some amount from my weekly earnings.  I will not give up my investment until bitcoin is halved.

Technically though we are still in the bear market, the bull run will start after the block halving which is going to happen a year from now. Mempool can impact the price if it is clogged, the fees are high and so traders might stay away from it for the meantime or worst make a sell because they don't like what they are seeing, or maybe hedge it on stable coins to stop the bleeding.

That's already a given fact, if there is news specially coming for US government regarding Bitcoin or anything related to crypto that is very negative, we will see a slight drop. Nevertheless, we are back to $27k++ again, last 4-5 days we nosedive to 26k and fluctuating around that price. And at the start of the week, we have a good bounce already.

It always obvious that the price of bitcoin doesn't remain constant, so I believe that the price of bitcoin can get to a certain level now and within two days it get reduced depending on the kind of condition bitcoin finds itself, I don't know while people panic on bitcoin price and mostly when we are experiencing degradation in bitcoin price, bitcoin price is not meant to be increase always because their is no law in bitcoin technology that stipulated that, the things that make bitcoin price to get accelerated is due the gravity of demands, when the gravity of demands is higher than the supply in the marketcap it helps to skyrocket the increments of bitcoin, while if the supply is higher than the demand the price crash, so it has been to this form for awhile, an old investors will not panic because of seven to six days experience of bearish market, while a new investors will not exercise patients for little experience of bearish market that occurs in bitcoin marketcap,  so it's better to understand market progress of bitcoin market before you venture to the market to avoid panicking.

If newcomers sat back and took the time to study the market, looking for past movements, we would never have seen questions that always annoy us like this. But I also agree we should not be too harsh on them because we were like them, panicking like they are now when we see bitcoin correcting. It also doesn't cost us anything to explain or give them advice, so if someone can't give advice, don't be too harsh on them. We should cheer up because this proves there are always newbies entering the market every day, and they are interested in bitcoin and should ask such questions.

I think it is too early to talk about a bearish trend, because nothing bad has happened, just a simple correction. I don't know if mem pool can influence bitcoin price. Most likely, the price went down because of some negative news, like fake news about US government selling confiscated bitcoins. But as you can see now, the price has started to recover.

Even if it is understandable that newbies were panicking over the downward movement we were experimenting and the high fees we had to pay, at the same time they need to sit down and look at how this market has moved on the past to understand it is not a big deal.

I am sure that if we really took the time to look for downward movements like this one we will find several examples like this every year, so they either get used to the way bitcoin moves or they will keep losing their money once the price of bitcoin drops for some reason.

The time span of this current bearish market will be determined by what triggered it in the first place which is the Bitcoin network congestion. From what I am seeing here the mempool is not looking good cause the number of unconfirmed transaction keep increasing every second and until the mempool calms down I expect the bearish trend to continue.

The only thing we can do is let them know, that this is just another re-test in the market and we have seen this kind of movements in the past. That we can bounce back and recover from it. However, it they really insist that they want to sell like the majority, then we can't do anything about it anymore. It's going to be a lessons learned for them though.


Monthly or weekly will do, but as we have said, just invest what we can afford to lose. So that we are not in a haste to withdraw our investments and just let it sit or HODL it for a long time. So it will take a lot of budgeting in our part if we are like the average joe, which is the majority of us here but willing to do it the hard way.

It is not our problem to prevent panic in the market regardless of how experienced they are. It is his own responsibility to manage his budget and investments regardless of whether they are profitable or losing due to market volatility. The best advice is to avoid selling during a correction in the market, but it is good advice for long term investors rather than day traders.

Buying on every dip is great, but not everyone can do it consistently. The main problem is about the budget, but I believe it is not something that must be forced. Taking advantage of market corrections to buy is advised, but as said, not everyone has the spare budget to buy lower.

In my opinion, this current bear run will continue and it might completely end within 1-2 weeks. Although , it is really tough to speculate the exact date of next bull market and according to this recent market condition, it is really far to be achieved.  Regarding Bitcoin price, I highly doubt if it will hit $30k in this month for the reason  that the whole market is dominated by the whales, they won’t let the value rises notably. Correspondingly , we should take this opportunity intelligently due to the price is affordable. The more we purchase during this tough period, the larger returns in middle and long term. However, it is really important to buy fractionally ( in parts ) in case you have cash or amount of stable coin due to the price may goes down significantly.

The bear market ended in 2022 when bitcoin was at 15k. We have been in an uptrend for almost five months now. Now there has been a correction, as there have been several times this year. But it is wrong to call it a bear market and a trend change. Bitcoin is still almost twice as expensive as it was last November. There is no growth without corrections and that is normal.

I believe the bitcoin price can hold above $25k, although dropping below $25k may only be temporary. I think this is not a downtrend problem but because so far bitcoin has failed to penetrate the resistance, which is $30k, which causes some people to be pessimistic that bitcoin can penetrate $30k. I'm sure that in the future price spikes will occur again and let's see whether bitcoin is able to penetrate $ 30k or fail for the umpteenth time.

Not everyone in the market has as much knowledge as you, so there is no need to be too strict with them. Sometimes they're newbies who haven't been through the bear season yet, so it's normal for them to panic.
But as you said, relax and have fun every time the market drops because that's our chance, not something bad is happening. That is the difference between a successful investor and a failed investor. I mean, the people who make the most profits mostly keep quiet and focus on buying every time the price drops rather than panicking and whining all over the place.

I understand your point of view; I was also skeptical at first because BNB is extremely dependent on a centralized exchange. However, I don't think it will collapse either; it's the largest and most important exchange there. However, I also find it hard to believe that it'll lose its reputation and validation anytime soon; something extremely unfortunate needs to happen in order to ruin its validity. Don't forget that it's the exchange with the largest transaction volume, responsible for more than 1/3 of the total transactions. With that being said, I find it unlikely for Binance (BNB) to perform poorly; it wouldn't make sense, not only because it stems from a huge exchange but also because it is being featured in one of the most important blockchains.

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.

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.

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.

While the investors that have recently come to this market and invested in it are probably nervous due to the current drop we are seeing, at the same time this is an invaluable opportunity, it seems unlikely to me that we are going to reach a price below 25k, so the current price allows us to buy bitcoin at what it is close to the lowest price we can reach during May, also when we think about it the next bull run of bitcoin will probably push the price above 100k so the current drop is not significant on the big scheme of things.

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.

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.

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.

Sales actually started on March 14, 2023, with an amount of 9,861 BTC.
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

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.

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.

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

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.

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.

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.

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.

I've been keeping track of the market for the past few days. At first, I wasn't bothered by the fall; it's normal to experience such fluctuations. However, there's a massive difference between a small correction and a $4,000 fall in just a few days. Something has to justify it; it doesn't happen without a specific reason. The combination of the excessive number of transactions, which resulted in extravagant fees, and what you mentioned—almost $300 million worth of BTC was sold, provided that it was accurate information—has led to this market crash.

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.

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.


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.


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.

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.

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.

Bearish indeed continues and this time the price of bitcoin entered the $26,900 area.
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.

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.

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.

At least we can get ready for the arrival of the halving next year by having more bitcoins that we buy from now on. It also allows us to make big profits when the bull run returns in the market. The current price has decreased by $200 and is now at $27,400, and it looks like it will stay like this for a while.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Why people do always freak out on seeing having that -3-5k market price decline of Bitcoin? Arent they get used to those kind of volatility or something i could really say that it is really just a normal day in crypto.

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.

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.

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.

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.

This should be in Speculation board.

In any case, we have seen the worst already, so whether we will see another downtrend or going down to the next support of $25k, it's up to us whether to take advantage of the situation by accumulating more or just push the sell button.

Yeah, we all know that the network has been congested due to ordinal inscriptions and BRC-20 Tokens. But I don't think it will be enough to cause massive panic amongst investors. Sooner or later this will settle down and maybe we can see the fees going back to normal.

Uh the bear market ended almost two months ago. This is just a dip. Not even a dip really, just ranging. Price has been ranging from $27k to $31k (mostly $27k - $29k) since mid-March after the bear market ended. Just gotta wait until the range breaks and price heads higher.

We are still in that stage and it's good to see that you pointed the transaction fees, if this congestion will continue, we might see more
collapse to take place, considering that investors and traders are being move any related news regarding to how crypto is moving.

though I can also say that we might see another bounce just like what happened few weeks ago, a dump take place but Bitcoin managed to bounce back.

Maybe it's better to observe and make another good analysis before buying if you are planning to add some inside your wallet.

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).

Now the price of the most of the coin which includes the bitcoin was red now.The current market also enable the high fee of bitcoin as like the old period.It’s essential one for the traders to hold all their crypto assets for now.The currency bear market will change to bull  by sometime,because it take some time.The people also facing the high transaction fee for the bitcoin transaction.If this one continue,the new technology will be found as like Binance Smart Chain.Now mostly based on the bitcoin used for bitcoin Transaction fees.When the bull market up,the people can earn  good money by which they invested on the bear market.

BTC's all time high isn't $30k, BTC's all time high is ~$68k. BTC price has not had any significant drops for weeks now, or did you just check today after a long time, the price has been stable between $26k-$30k.
If we are to go by the recent movements for the past weeks now, then it should recover to around $29k-$30k soon.
I won't call this a bear market, but the price is good to buy more, so i am doing both: holding what i have already accumulated and adding more BTC's to it.

As far as I know, we have not yet gotten over the Bear market, we are currently in transition so the market may look bullish and at the same time bearish.  It depends on the market sentiment for now.  Since there had been this network congestion and the tx fee hike, I believe the bearish market sentiment take over and that is the reason we had some price decline right now.  I think if the congestion and tx fee does not return to normal, we might see another price crash ahead.

With the look of things I feel the price of bitcoin is going to keep falling, because I just checked its price now and noticed it have fallen again to $27,476 which is a huge difference of over $2500 ever since this recent bear market started 3days ago (5th May) at bitcoin $29,500. But whether the down trend had continued, it wouldn't had been my problem if only the transactions fee was still normal as usual, unlike the just recent exorbitant high in bitcoin transaction fee ever since this bear market started, which is preventing a whole lot of persons from transferring bitcoin from one wallet to another.

How long the bear market would persist is unknown. In the next few days or weeks, it does appear like the price of Bitcoin will begin to trend downward. The best course of action right now is to continue buying more bitcoin as much as you can.

I anticipated that bitcoin will drop to $25k before starting to bounce back up in price. It is likely that Bitcoin will drop below $25k in a few days if the current network congestion that started today persists.

There is a head and shoulders pattern forming, lets just say it doesn't look good!

Currently price has been range-bound between $27K and $31K for the past 6 weeks, that's the other way to look at the current -8% correction from recent highs around $30K. I'd otherwise say that $28K is the accumulation/distribution zone based on volume, but price has also flirted with moving above and below without much significant follow through, so for now this remains more of a "magnet zone" for price to return to.

I said the same last month at $27K that if this level doesn't hold then we can see re-tests of previous resistance, like $25K, even $23K previous support zone where there is high volume. But as long as price remains above $27K, I don't think there's much to worry about. As for how long a correction could last, that's anyone's guess. Anywhere between 6 days and 6 months would be mine.

PS - This topic otherwise belongs in speculation board

Actually, no one knows and I don't think it's a bear market if you look at the 3-month chart the price is still at a higher price compared to February and March.

And look at the weekly chart as you can see the price is pretty stable at 27k to 29k I don't think if the price will drop below 27k because that is a resistant level or if it drops to 26k I believe it will pump again soon at 27k. That's just my own prediction because I already made a couple of bucks from ups and down these past few weeks.

We are not in this flr the first time neither are we going through such for the last time, this is why bitcoin is a volatile cryptocurrency, you can't predict accurately the move or direction of the price because the demand and supply rate set most of this in place, and now tgat wr are close to halving, we should be expecting more of this as it do appears sometimes that bitcoin price drops a little bit in preparation to surge high, you can also DYOR on this.

There is bear market again but it is certain that bitcoin will get to all-time-high. It may take a year or two years before this would happen but it would definitely happen.

It is not even a bear market to me yet until I see bitcoin at $23000 to $20000 again in the bear trend. This will make me buy bitcoin again significantly. All-time-high is certain.

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