Bitcoin is falling down. Is it the end for it? - page 6.

hatshepsut93

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Quote from: IndianCryptoStreetbets on April 18, 2021, 03:12:38 PM

The last few months of solid growth have instilled confidence that Bitcoin is unstoppable. Each time Bitcoin updated its maximum and even managed to get close to the $60,000 mark. However, then its price fell sharply in a few days and for many investors it came as a shock… for some reason.

If you think that Bitcoin will go in one smooth line to $300,000, then you are sorely mistaken, bull runs always had corrections, it's a normal process - someone takes profits and the price crashes, but as long as there's more money willing to invest, the price will go up.

At some point there indeed will be a true crash, assuming that this bull run will be the same as the previous ones, but you can't tell that this is it just by one day of data.

tinopener

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Quote from: IndianCryptoStreetbets on April 18, 2021, 03:12:38 PM

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

I think the approval of a US ETF will buoy the price again this year.

However, I think FUD over environmental/electricity issues will resume next year when covid dies down, and Bitcoin will crash properly.

That's going to be the time to buy more, and then wait for Bitcoin to sort out the mining carbon emission problems.

Once the energy aspect is sorted out, the sky's the limit.

bitbunnny

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It's definitely not the end. Maybe at the moment we are experiencing sone corrections and in fact I expected to come even sooner but in any case we can't talk about end in any sense.
Bitcoin still holds very high price, it attracted more investors than any time before and this we might call one of the most progressive times for Bitcoin. But volatility is something that is natural for Bitcoin and something that any person involved with Bitcoin must be aware of, without panicking every time when Bitcoin price falls.

AmoreJaz

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Quote from: willoweb on April 18, 2021, 03:33:05 PM

How could this be the end of Bitcoin? Its price reached an all-time high - one of the major investors decided to take profit and did it on one day, which led to some panic. But this is definitely not the end or even a collapse. Simple market correction. Look at the bitcoin price at the beginning of a year or two years ago and it will immediately become clear that this is a normal correction. Yes, it can be a reversal in the direction of a bearish trend, but it can also be great money! Do not despair!

i have to agree here. just a normal correction. because it is not normal that we will only see upward trend forever, at one point, it will drop. but look at the drop. it doesn't even fall below 50k. it means, btc has very strong support at this level.
with so many financial institutions that are now into this game not including merchants, i dont think we will see a massive correction here. even with this drop, we haven't seen this price in the previous years. we only have seen the 50k range this year. so what are we complaining here and thinking bitcoin has already ended its rally? Roll Eyes

seoincorporation

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The drop was imminent, it was about time for it to happen. And I wouldn't say this was the true drop, it's possible to see it going down to $30k or more. So, let's keep an eye on it because crazy times could come.

As I always say... What we know it bitcoin will move, up or down, but it will move, what really would be weird is to see it stuck on a price.

jesselui

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The whales only paid for the inexperienced. Panicked and selling friends lost their money, the rich got richer. These kinds of falls happen, which is always important, and there is no fall as a result of bad news.

willoweb

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How could this be the end of Bitcoin? Its price reached an all-time high - one of the major investors decided to take profit and did it on one day, which led to some panic. But this is definitely not the end or even a collapse. Simple market correction. Look at the bitcoin price at the beginning of a year or two years ago and it will immediately become clear that this is a normal correction. Yes, it can be a reversal in the direction of a bearish trend, but it can also be great money! Do not despair!

Review Master

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Quote from: IndianCryptoStreetbets on April 18, 2021, 03:12:38 PM

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

First of all, it's clearly no. From the beginning of 2021, we can see that btc took 20%-25% correction each and every month whether it's done at the starting of a month or ending. And this time, samething is happening before taking a bullish rally for $66k or $70k. Lets just wait for the sideways movement of btc, than enjoy the bullish rally. Wink

headingnorth

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I don't think so. The tweet that seems to have sparked the large drop has not been verified and the miners are coming back online. Bitcoin appears to be recovering nicely so far.

Charles-Tim

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Day and swing traders are the ones now manipulating bitcoin price with $50000 support and $60000 resistance. The institutions are not coming in more for now, that is why the price is falling back and yet not growing. We can not say this is the end of the price increase because possibly more institutional whales and other whales can come into investing in bitcoin which can still push the price further above $60000. But, bitcoin is deflationary in design, over a long period of price fluctuations, the price will still have a net increase.

DarkDays

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Quote from: IndianCryptoStreetbets on April 18, 2021, 03:12:38 PM

The last few months of solid growth have instilled confidence that Bitcoin is unstoppable. Each time Bitcoin updated its maximum and even managed to get close to the $60,000 mark. However, then its price fell sharply in a few days and for many investors it came as a shock… for some reason.

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

Think about it. Has BTC done this before - YES. Has there been a strong recovery -YES.

With such a strong rally of reaching a new ATH, seeing a small drop is only natural.

The growth is still on the way, and for those who believe in BTC would think this is a good opportunity to jump in and buy.

The point is that what we see today is normal and it's likely a sign of a strong rally.

IndianCryptoStreetbets

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The last few months of solid growth have instilled confidence that Bitcoin is unstoppable. Each time Bitcoin updated its maximum and even managed to get close to the $60,000 mark. However, then its price fell sharply in a few days and for many investors it came as a shock… for some reason.

Is it really the end of the Bitcoin rally or it’s just a pause before another storm? Let’s try to figure it out.

Topic: Bitcoin is falling down. Is it the end for it? - page 6. (Read 610 times)