Topic: Bitcoin failed at $58,000 and dropped by more than $3K in a day. - page 5. (Read 621 times)
October 13, 2021, 06:00:26 AM
My opinion: whatever lol. Bitcoin has been going up and down and up and down for years now that it's totally pointless trying to pin-point what caused such price movements. The fact is, it went down. Done. Whether I find the reason or not doesn't change the result whatsoever.
October 13, 2021, 05:54:03 AM
Indeed, a failure and a drop of about 5% in 24 hours. A tragedy after notching over 20% in a week. Nothing unusual for Bitcoin, but if this causes panic selling, all the better. Got to wring the bear towel tight as possible so the bear purge happens real and proper.
Timely mid-week recuperation, look forward to the ensuing weekend.
Timely mid-week recuperation, look forward to the ensuing weekend.
October 13, 2021, 05:49:45 AM
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users.
There are still centralized exchanges that people can use to trade without not getting verified. Binance still give the choice to withdraw only while all non verified users that their account has not been restricted already will have not more than 19th of this month. I do not see how this affected bitcoin price, also include the link to the news for it to be authentic.more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?
I do not see how this is linked to China, it is not. But you can read this in case of another China FUD:
Crypto has recovered from China's FUD over a dozen times in the last 12 years
Know that a time is coming bitcoin price low will not reach $55000 anymore.
October 13, 2021, 05:19:49 AM
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
Oh here comes another blame on chinese restrictions but seriously is this drop even significant that we need to talk about it.Bitcoin volatility effect could make surge or dips with such price levels and it's quite normal.But the positive news is it has managed to recover from $40-$45k barriers so ignore these things.Even if it was $70k fell from $75k would be bearish still and having such discussions? 
October 13, 2021, 05:12:03 AM
I see no real reason why Bitcoin has lost 3k. This is just regular market situation. Previous growth from 50k to 58k also happened without any specific reason.
In fact, the actual price drop is not 3k; the price has decreased for 1-2k, and panic sellers just pushed it more down. You can call it correction if you like.
China is definitely not a reason for a drop. They ban cryptocurrency anyway. Not a big deal if someone can not trade what is banned. Besides, Binance does not just restrict access, it restrict only trading option. "If the platform finds out mainland China users, Binance will restrict such accounts to the withdrawal-only mode. Users will only be able to withdraw assets, cancel orders, redeem or close positions."
In fact, the actual price drop is not 3k; the price has decreased for 1-2k, and panic sellers just pushed it more down. You can call it correction if you like.
China is definitely not a reason for a drop. They ban cryptocurrency anyway. Not a big deal if someone can not trade what is banned. Besides, Binance does not just restrict access, it restrict only trading option. "If the platform finds out mainland China users, Binance will restrict such accounts to the withdrawal-only mode. Users will only be able to withdraw assets, cancel orders, redeem or close positions."
October 13, 2021, 05:08:33 AM
This is just so normal with Bitcoin ad it is just natural for anyone to look for any reason they can find. Anyway, I really hate to connect this with something that has again China's involvement. I am wishing that by 2022, we can get over with this China factor and move on. I am tired of this China, China and China. Since China has already made it clear that they will never allow Bitcoin and cryptocurrency within the country, let so be it! Cryptocurrency can grow a lot even without China in the same way that Google, Facebook and YouTube became megalith even if they got virtually no presence in China!
October 13, 2021, 05:06:33 AM
The world must be ending, sell everything now because Bitcoin isn't apocalypse-proof. Some people think you might need things like silver, bullets and gas for barter after the revolution begins but they're wrong. It's actually chickens. People never know how much they need chicken until its too late.
October 13, 2021, 04:50:37 AM
$3K is business as usual. It's like a 5% drop. A 5% rise or fall in the price of Bitcoin is quite normal and cannot be attributed to any specific event. If you're worried about a drop of that percentage, you'd better not invest in Bitcoin or one of these days you're going to have a heart attack.
October 13, 2021, 04:19:09 AM
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
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