Topic: Bitcoin now officially in Bear-Market: -20% down - Dropping like a Rock (Read 544 times)

I can also see that the current drop is not that very serious and its fall rate has not reached 20% so maybe we are not yet entering the bear season. I think there will still be a lot of this when we finally turn into bearish season, that weak hands cannot sustain it anymore and end panic selling. But we know things that are happening right now will not be forever, it will surely end when we see the market starts to recover. So its better to hodl our coins until we see good chances to sell and earn profits.

I am thinking that we are still in a correction but i know after this, we will also end up having a bear market. So since this is also part of the cycle, then we should not worry seeing the market all in red as this signifies that there is bigger opportunity to buy now with high discounted coins. And its a perfect time to accumulate more promising coins that we think will be more profitable in the future. So just enjoy the ride while opportunity is in front of us.

Well, if this correction will move down to its bearish season, then i don't think we should develop fear because of the serious dump. Probably, weak hands do but never for those who had experienced this market dumps a lot of times. Because if we look at its brighter side, if bitcoin will drop further, then we can buy a whole bitcoin since it becomes affordable now. And also, there are a lot of good altcoins that are waiting for us to fill in in our portfolio so definitely, this will be a good start to buy potential coins for long term hodling.

I can also see that the current drop is not that very serious and its fall rate has not reached 20% so maybe we are not yet entering the bear season. I think there will still be a lot of this when we finally turn into bearish season, that weak hands cannot sustain it anymore and end panic selling. But we know things that are happening right now will not be forever, it will surely end when we see the market starts to recover. So its better to hodl our coins until we see good chances to sell and earn profits.

I definitely agree that we are not in the bear market right now. It says we are 20% down for the week we are 11% or so down, and only in the last 30 days we are around that 20% mark and not even there, we were around 48k or so and now we are at 42-43k levels which is 5-6k difference and that's not 20%.

All in all I would say that its nothing too shocking and we should not be calling it a bear market. For it to be a bear market we need to see it drop a lot more in the future. We need to see it a lot worse, we need to see like 40% or so drop in order to call it a bear market if you ask me. Obviously there is no definite line to say if one thing is bear or not, but this seems too small of a drop to be suddenly in bear market, it was just a small drop.

^  A lot more?  I don’t think so...  30k isn’t really far away from what the price is at right now which is now around 41.2k.  Again, if 30k breaks, we’re done for.  Let’s just hope there aren’t any more huge holders that’s gonna capitulate and add more down side momentum if BTC approaches 30k.  Lol.

But really I’m expecting a bounce to around 46k, maybe 48k then a drop back down to where it’s currently at then hopefully it plays out like July and trends back up again.

I'm not sure I'd say we're in a bear market yet.  This still seems like correction territory to me.  Granted, it's closer to bear market territory than I'd like it to be.  We're still in the comfort zone at the moment though.  I think things will start getting uncomfortable around $39K and below that will feel like a bear market.  At the moment though we could be in a trading range between $42.0K & $69K.  Until that breaks, this could be viewed as a buying opportunity.  Especially seeing the sentiment in the market expecting it to drop further.  The bulls have been liquidated enough, there should be some bears on the menu before long.

I'm not sure I'd say we're in a bear market yet.  This still seems like correction territory to me.  Granted, it's closer to bear market territory than I'd like it to be.  We're still in the comfort zone at the moment though.  I think things will start getting uncomfortable around $39K and below that will feel like a bear market.  At the moment though we could be in a trading range between $42.0K & $69K.  Until that breaks, this could be viewed as a buying opportunity.  Especially seeing the sentiment in the market expecting it to drop further.  The bulls have been liquidated enough, there should be some bears on the menu before long.

I'm not sure I'd say we're in a bear market yet.  This still seems like correction territory to me.  Granted, it's closer to bear market territory than I'd like it to be.  We're still in the comfort zone at the moment though.  I think things will start getting uncomfortable around $39K and below that will feel like a bear market.  At the moment though we could be in a trading range between $42.0K & $69K.  Until that breaks, this could be viewed as a buying opportunity.  Especially seeing the sentiment in the market expecting it to drop further.  The bulls have been liquidated enough, there should be some bears on the menu before long.

Now BTC is at $51k, its was up to $65k on some exchanges, $54k is -20%, so now we're at -25%

A sustained down of -20% is the legal definition of "Bear Market" get over it. Live with it. Sure HODL on or buy more, hell buy the falling knife, sell your house and car, and buy BTC on the way down,

Like I have said all along, it was the MUSK billionaires who sent BTC from $20 t0 $60k in the last six-months, not the geeks with stimmy-checks, they're over on DOGECOIN

Now MUSK & billionaires MUST take profits before all that money evaporates.

Given that CHINA owns BITCOIN, and MUSK with his $1.5B purchase drove the price, one can say that much of the corporate USA loss on BTC investment is just easy money transferred to China.

One mans loss, is another mans gain. In this case with +67% of all mining done in CHINA, they own BITCOIN.

MUSK was a BIG believer in China, but now with the people jumping on his Teslas, and his reaction, MUSK is seen as a pariah in CHINA for what he is, also in CHINA while the USA buys the bile because USA media peddles bile, in CHINA the people are aghast that he says "The Tesla that crashed in Texas, was NOT on autopilot", Chinese people see this as an assault to their intelligence, maybe for the USA the USA people are a nation of idiots in the eyes of MUSK, but in China with the single child policy of 60+ years, everybody makes sure their kid gets the best education, unlike USA where everybody is fed WOKE bile, in lieu of education.

BTC dropping like a rock, or reverting to the mean, is not a new problem, easy to go from  $1 to $100, wasn't likely to go from $6k to $60k, but now stimmy checks are kaput, and the USA corporate balance sheet is crap. The single reason that MUSK, and dozens of other CEO's parked their corporate cash into BTC is hoping they could show a profit on their books. Not unlike GM, back in the day GMAC made morning money loaning its cash, than they did making cars, until they figured out that nobody was paying that money back.

Classis MUSK was John Delorean, who spent 100's of millions of company cash on Cocaine, so he could keep his car company afloat with drug sales in USA urban crack zones.

The entire BITCOIN narrative is now public, everybody knows that 100% of the BITCOIN 'story' is based on lies, there is not a single truth propagated by the pumpers & dumpers in BITCOIN land.

Just like USA today, where liars rule the media, here on BITCOIN liars rule the narrative, truth doesn't make you rich. But if your eyes are open, the truth can keep you from losing all your money.

You would really be expecting these kind of calls anytime we do see some price decrease where there are people who do freak out and keep saying that this is the start of the bear market
but if we do try to look at on the current condition then you can say that we are totally seeing the other way around.

-20% down isnt something that you should bother out yourself but rather see this as an opportunity for you to buy more cheaper coins.Some calls are just creating the FUD so better not to make
yourself get easily affected with these.

Dropping like a rock? If you've been here on this market for a while then these movements wouldnt really be an issue at all.

There is absolutely no sign that Microstrategy and Tesla are taking profits.

You have to understand that Elon Musk is essentially locked into his position implicitly for at least a few more months/years. The SEC will be on his back for securities manipulation if he offloads his position so quickly.

I doubt this will be the end of the current rally. Fundamentals are all here and market sentiment is as strong as it has been for the past few months. Shouldn't be more than a temporary dip along the way.

The problem is that threads like this do not have any consquence to the creators.

Bitcoin's coin has had a good rise in price since October. Yet there have been many threads that say bear bear bear.

I say buy the dip while you can and Hold Hodl Hodl

Currently, the long-term capital gains tax rate stands at 23.8%, and with Biden’s proposal, the number could surge as high as 43.4%. The Cardano founder reveals that he will be personally affected by the proposed tax hikes.

“It looks like the corporate tax rate for offshore corporate taxes is going to double. It looks like my personal taxes are going to double as well. The latest tax proposal on capital gains is going from 20% to 43.5%.”

Currently, the long-term capital gains tax rate stands at 23.8%, and with Biden’s proposal, the number could surge as high as 43.4%. The Cardano founder reveals that he will be personally affected by the proposed tax hikes.

“It looks like the corporate tax rate for offshore corporate taxes is going to double. It looks like my personal taxes are going to double as well. The latest tax proposal on capital gains is going from 20% to 43.5%.”