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

There's nothing we can do for now but to hold most of our coins as the market is still having a correction. Also, seeing the coins are mostly in dips, then we can take advantage of this current scenario to buy promising coins while they are still in bargain. And for sure, we can do a lot more of buying when the market finally enters the bearish season. Or are we already entering the bearish season?  I bet no one can answer it with certain since we all have our own point of views when it comes to having a correction or a bearish season.

-20% is not that huge enough to call it bear market, above 60% fall is an indication we are now in bear market and its not happened yet, I think we will go sideways for some months and it could possibly trigger an altseason look at the btc.d now looks like we are in a support zone and if it breaks below alts may fly.   

Exactly. There's no room for doubt or fears this time as we are not really losing from our investments, unless we decide to go on panic selling which will really create a huge loss on our part. Instead, we should be more thankful that another opportunity has come and we can start buying potential coins on their lowest prices. Just keep calm and just enjoy what we have at the present. We will always see a brighter market when bearish season is over.

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.

Yes, weak hands won't sustain. Who are those weak hands? In my understanding most of the small volume holders seems to be weak hands, because always there'll be little panic about the market as there is nothing assured for the next move. Right now the large volume holders and whales will be making use of the fluctuation which has been taking place between $40k and $43k. Small holders never intend to do rather than holding. This is why they panic by this situations.

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.

With bitcoin making a series of price dumps, i think going down to the price level of $30k is very much possible if all news that come to the market are negative and that will make the whole market even more dumping. Aside from that, if those long term hodlers will start to panic and sell their coins to cut their losses, most likely that the crypto market will experience a total dump in this bear season.

However, looking at the positive side, this is a perfect time to enter the market and start buying all those promising coins that are in their cheap prices. But before that, study first and make a deep research on what coins you will buy during this dip so you won't be wasting your money on shitcoins.

^  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 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.

The daily looks ugly but yeah, the weekly def looks like BTC just going through a correction.  Anything above 30k looks to be good imho and I think BTC is going to be ranging between 30k and 60k if it doesn’t find itself trending up to new all time highs for the next couple of years.  I guess I’ll take it!  Better that than breaking down below 28k - 30k support.

Neither I. Actually was waiting for a bounce now that 200MA is pretty much under heavy, heavy stress, but I guess it's not coming until (or if) 40k is tested, which I thought would happen yesterday/today.

Like you said though, I'm much happier seeing visible sentiment in fear, unlike not so long ago when everyone was expecting big things on 31 December.

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 would not advise judging Bitcoin as if it were a stock index in terms of defining 20% the confirmation of a bear market with crypto destined to form a negative trend.   Bitcoin often pulls back this amount due to its greater volatility.   BTC better resembles a commodity, a security established commodity not physical but the swings it sees in demands resembles very much what I see all the various sometimes seasonal commodities.    
  All we are doing presently is pulling back to September price levels which might be of some disappoint but doesn't qualify as severe overall.   I always take at least a year context for pricing, its been far more positive then I imagined possible.

you know for 25 pence, I could create a version of this with just 1.2 and dog lake attached to the side.

Most of the time the ones that get really nervous are the newbies of this market, I have seen my fair share of ups and down of bitcoin and at this point I am immune to panic attacks as I have enough experience to know that most of the time a drop like that is only temporary, but newbies that have seen bitcoin going up almost exclusively during a whole year are not familiar with those kind of drops and that is why they are panicking, and yet just a few days later bitcoin is back at 55k.

SEC would not be on his back if he offloads quickly, he could buy and sell in the same day if he wants to and that would be legal. However he is definitely in the long game, how do we know? Because dude put up tesla on sale for bitcoin, you can pay bitcoin to buy Tesla nowadays and that is why it matters. He doesn't care about just the investment he made, he also cares about all the money he could get from bitcoin sales and he has specifically said that he is not planning on selling the bitcoins that come from bitcoin sales as well, so he is going to keep holding them all.

This is why I think it is obvious that we are in a much better situation right now, the price of bitcoin is nearly 2 teslas right now and as microstrategy is still buying even right now, so things looking good on that front. They aren't selling not because it would be illegal but because they don't want to, that is much better.

I'm not here to shame the creator of the post but merely just educate him or at least give him my personal opinion about Bitcoin being in the bear market as we all have different analysis after all. Right now I am saying that we aren't still in a bear market as we aren't clearly on a downtrend but rather on a higher level of consolidation where Bitcoin can go up and own 5-$10,000 and still you wouldn't see any reversal not unless it has broken a support in a continuous manner.

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.

I think that Bitcoin can continue to fall in price, normally according to Peter Brandt predicts that it can fall 35%, according to PlanB still 25% is what has fallen, but I think that as PlanB says this year is not yet the end of the bullish trend, He is still firm with waiting for it to reach $ 288k, this month of April is always exclusive of a bullish trend, it seems strange to him that it is happening for now at this price, the introduction of Coinbase Coin on Wall Street may have caused this price for the participation of some investors in the crypto market or Biden's tax plan, it's all a matter of waiting ..The creator of Cardano thinks of it like this:

Source: https://dailyhodl.com/2021/04/24/cardano-creator-says-biden-tax-plan-could-be-seriously-bearish-for-crypto-markets/

Could this be because of the Biden Fiscal Plan?

I have read a lot, and I firmly believe that the decline of Bitcoin is naturally due to speculative market causes and not due to a fiscal plan, but according to the position or opinion given by the CEO or the creator of Cardano it makes a lot of logic in what he says, and new institutional investors may be scared to own Bitcoin if the new tax plan takes it.


Source: https://dailyhodl.com/2021/04/24/cardano-creator-says-biden-tax-plan-could-be-seriously-bearish-for-crypto-markets/

It may cause some panic if you think like the creator of ADA, Normally the market does not react so immediately to the news, unless it is a fundamental, I think it is best to wait longer to see how the market develops.

People do normally react with these kind of situation on anytime they do see some price decrease in a range of 5-10% in a day then they do usually freak out
and having the thoughts that this might be the start of the long bear season and just like on what happened in the past without even realizing and trying
to look back on what are the things that do commonly happen in day to day basis which they should really be looking and be realistic based on that
rather than on looking on the current condition and making out presumptions and speculations that it would really be going down continuously.

-20% is for stocks and BTC more closely resembles the commodity markets where 10% moves in a day can occur.   Its not really valid to call it a bearish market just yet, its a pullback and we'll see how it proceeds over time not just price. 50500 I think is the price I need to see it hold as a low, if we see this occur in larger bars on the graph like daily and weekly then assume you have a counter rally even if you wish to speculate a wider bear trend.

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

The first picture is what a lot of people are saying about Bitcoin is "finally" in the bear market but what they are looking at now is an hourly chart for Bitcoin which means that what you are seeing right now is just the small movements of Bitcoin from a short period of time. The second picture is the daily chart of Bitcoin in which you will see that Bitcoin is still on an upward trend. The hourly chart of course is something that can't determine if an asset is either bullish or on a bearish market cycle as it is just showing you a smaller trend compared to what the longer time frames is showing you. 20% drop is really meaningless as even in the stock market there are stocks in which moves by 20% but it doesn't mean it is going bullish nor bearish.

so the tesla chargers are on that side and over there near the curb you can see the silhouette of someone pointing at mesh

No more corrections in my opinion. Since market now is really not in good condition., as the matter of fact you can see it that most of the coin in the market that made a break out previously they are now constantly losing strength..

 Definitely this is the real sign that most of hodler are dumping, just imagine that percentage if it will continue to happen it will getting worse for sure.. wherein only true investors can afford to lose..

Basically when the stock market drops 20% from highs its considered a bear market, however this clearly doesn't apply to other assets. Many stocks can drop 20% from highs and it doesn't mean its a bearish stock. I think a couple months ago it was CNBC which started this trend, where if BTC drops >20% it means its a bear market. Completely untrue.

Even if the SP500 drops 20% it doesn't mean its a bear market, its either sideways trading or neutral in my opinion. I think if it drops 33% or so then maybe its considered a bear market.  Look at all the dips we had in 2017 before it finally topped out at $20K. If you sold at the first 20% you would of missed out on huge gains.

You got it correctly. Currently we have the 50K support holding strong but break below 50k.I know we are on red today but same things happened in January, February and March. Every time Bitcoin bounce back strongly, hopefully this time also booming soon. Here we all should not panic.

When it fell in January and February it falls slowly what's the difference between the massive downfall is that it happens within just a week which unlikely due to the fact that bitcoin has gain some massive support over Ellon Musk's statement, and the fact that even other crypto started falling down is quite peculiar, and now that media is all around it news about it falling down over -25% affects the market even more.

@ op learn the definition of a bear market.

tl;dr

I've seen so many times Bitcoin went down 20% or more from its highs and yet it manages to recover after a few days or weeks. This might be the same as that scenario.

I might be wrong and the OP might be right that we can be in a bear market just because of this drop but its unlikely right now. Take note that Bitcoin has been going upwards for so many weeks already without any correction. A correction like this is expected since within the past weeks, we've seen Bitcoin going up and up only and no downs whatsoever. Anyway, good luck in spreading some bad news here. This thread might cause those newbie investors to panic and sell their holdings at a loss . As for me, another buying opportunity to take some short term profits .

And with that, we have seen -20% drop or even more in January and February.

So what makes this drop so special that people are shouting as if it is the end of the bull run?

It seems that this has been sensationalised as if he has the crystal ball to see the future. He just caused panic for most newbies here (and I think that is his intention). Nevertheless I'm not affected by the drop, on the contrary it will be the next big thing to happen again as we can buy cheap bitcoin again.

People cant really just try able to see on how far we've able to reach since from last years last quarter and up to this year where we are still above on that anticipated ATH that we are just hoping which is 20k.
People had already been already seeing positively on breaking 30k wayback when we are still playing around 19k or near Ath until the price had made out some surge and wasnt expecting for the
price to reach or break 30k and 40k and it did continue as the market have continous support and traditional investors did really make out some involvement.
I cant still say that we are already on the Bear market.

Probably after everything has settled down, we might have the numbers on how many these big institutions bought, like MicroStrategy etc.


Yeah, but the best way to combat this kind of FUD's is to really proved them wrong in any angle. Because there could be some newbies that might believed this impending doom while in reality we have seen worst in January and February. But then again, bitcoin will always recovered, it is so resilient with this kind of flash crash that it will stand up and surpassed another all time high.

Would be nice to see it really tanking though, to see how the big guns react to the plunge and to be able to buy more cheap coins too. The thing is, these market movements are almost normal on bitcoin and are happening every few weeks or so that it's no longer a surprise anymore.

The problem is that some people and news sites sensationalizes these normal market movements as if they are the sign of an impending doom, when in reality it is not. Oftentimes what happens is some traders just sells in order to move assets, though those coins are easily chomped down by other traders. It's not really something out of the ordinary, I'd say.

Even if we are at 51k level today, and compare it to previous years, you can say we are still in bull season. So it depends on when you are comparing it to. People already saw the 60k mark, that's why when it goes down, they feel, btc is already over.   So yes, expect there will be more of this type of comment or postings, especially from beginners who bought their first bitcoin more than 55k level. They feel they already lost but this is just normal for any market. If they have weak hands, they can always sell and never go back.

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.

Because that is the way it works, there are many out there that consider themselves contrarians and there is nothing they would like to see more than for the price of bitcoin to crash, the market is still close to the 50k level and yet for some reason people are speaking as if this is the end of the world, anyone that has been holding their coins before this movement started do not have a problem with what we are seeing now and they are probably using the current low prices to accumulate even more bitcoin as we speak.

I have seen many things in my life, met with a lot of people, hear them speak and I have heard a lot of people saying the wrong things, same with writing as well thanks to being born in the internet age for the past 20 years I have been online and reading people being wrong, argued with a lot of time, let some of them be wrong and moved on as well.

I however never seen or heard or read anything that is this much wrong before, I have seen people say that humanity was evolved from a species that ran away from Mars to colonize earth because Mars was becoming inhospitable to live, millions of years ago, someone literally believed this was the source of how humanity started, and even that guy was more right in a way that at least he had evolution in his steps. OP however is the first person I have seen that managed to be categorically wrong in every step, kudos mate.

In bitcoin a 25% drop is a legal definition of a correction. Corrections are super healthy. If they maybe damage your health that means you are over invested and you should sell a bit at any price.

Beautifully written. Have you confirmed, as I have done with pure math and science, that bitcoin is going to fall to around $100? It's easy to see. Get the word out fellow scientist!

It is what it is. "Yesterday is history, tomorrow is a mystery, today is a gift!"

Unfortunately, corrections are getting more frequent, deeper, and more violent. Bitcoin investors tend to buy far too much. When price falls, they buy at even lower prices, which means they usually get shorted at lower prices. This forces them to take losses to stay in the game.

OP is quite a troll. What surprises me is to see people with seniority in the forum getting pessimistic as well. It's already been said: if you're going long term, just HODL. I don't think this is a bear market, certainly not because the OP says so. It's true that technically it doesn't look as bullish as it did until recently, but whatever. It can change at any time.

Probably true. I don't see it making a new ATH from here but btc surprise people sometimes but the chances are very low this time. Everybody knew that it wasn't going up forever anyway. If you realized any profits then you are good to go. Now wait for a good price to get in or enjoy your profits meanwhile.

A 75-80% drop from the last ATH would be a nice entry point.

Not a big deal, we still 3x of 2017 ATH. I wonder how shocked these people will be when they see how the market behaves in 2018. In every pump there's always a price correction or price dump but one thing for sure the price could go up again anytime and to be frank even if bitcoin go down as much as 50% of its ath we're still around $30000 which double the ATH in 2017 so if bearish market ever comes, I'm pretty sure maybe in next 3 years we gonna see the new ATH around hundred thousand dollars which means the current bearish is the best time to make an entry if you don't want to regret for not buying more.

Nah, saying the price has been driven by Musk alone is completely nonsense if you simply look at the previous post-halving price actions. This is Bitcoin - every 4 years, it goes nuts. Musk might have invested in it, a domino of corps investing in BTC might have been released, yet before Musk there were whales we had which were strong manipulators as well.

Musk's the replacement of whales. Bitcoin will triumph the same way it did every time it dropped before. And if corps decide to sell, that's even better since the Bitcoins just go back into the people's hands. Any way you take it, the price cannot be stopped, corrections are needed and Bitcoin will triumph yet again as the King of crypto.

Exactly, I've been wishing for a dip for now because I felt that I don't have enough bitcoin to go with it so all I can do is just to accumulate and accumulate until I am satisfied. The quote above is right, don't mind the plummet because that will be your opportunity to buy more and hodl.

Sure, I learned the principle of an iceberg, a still rolling snowball, a 1H candle and a diving MA on the open road.  A real panic.  I wonder if this crisis will end as soon as I hope or not?  But market sentiment has yet to show balance!  Lock, wait for more to embed!

If people were here like back in 2018, I think they'll already get used to these kinds of dips.
I had seen more bears back then when BTC plummeted at 3k.
I don't mind even if it went below that as that is purely an opportunity for me to buy more or simply just hodl if I don't have the means to buy.

It won't matter for the bears because if they say that bear season is here then nothing is going to change that fact. I got worried that the price did dip but I don't really mind if that was the case because it will be a temporary thing. Plus we can't really say that the bear season is here until it is over.

Are you hand picking dates?
Since January 1st 2021, Bitcoin is up 98% for the year in 3 months 22 days.
If it pulls back 20-25%, so what?
That's not a bear market... it's still up 73-78%
Relax man..

Well said!

Why there's always a thread like this when bitcoin is dropping?

Bitcoin is already existing for over a decade and started with a few dollars worth, but now the value is unexpectedly thousand times from the time it was created. Its just shows how worthy this currency is, yet a correction (which is quite normal) causing some investors to speculate negatively.

Its simple, if you believe in bitcoin then continue to hold or take advantage the dip, otherwise you can sell and quit.

I didn't say you wrote it. I"m the one who said it and you have to take it seriously too. Don't be afraid of the bears, you spread this fear yourself. This market is not that stable, it can even drop to $100, god knows what will happen. But it still has some value which all that matters.

It's just the USD price that just keeps dropping but the satoshi value are still green, should it mean bear already, it might just be.

Bitcoin also fell around 23% and 26% in January and February, and yet we have bounce back and make new ATH. So I wouldn't say that we are in a bear market, just the monthly dips that we have been seeing. And to be fair all crypto is bleeding, so you might want to change your subject to Crypto now officially in Bear-Market because that's the correct read right now. So specially pointed out bitcoin getting into -20% and yet XRP, DOT and the rest have been dipping -10% -40%.

I don't believe in 3k don't lie about thngs i never wrote. I wrote it could 20k again not 3k.
And as a perosn who predicted anything in the last days you should take veyr seriously every word I wrote because I'll be right again.

Yep it can be the start of bears, probably the best time to sell. We can all dump together actually but its the belief from within us that keeps us holding to the one asset that keeps rising. You have to also believe that even if BTC drops back $3k, the rest of us will still be holding and in fact, will even buy to profit later.

I'm going to actually move to leverage trading to profit from shorting. I believe this is what they would be doing soon too.

Yes -20% down is officialy bear market. And I warn many people here and they don't listen.
Look how many thread I opened and wrote game over for bitcoin time to sell all and they call me stupid.

Here we're in a bear market. Who is the stupid now.

You see, this type of thread is why i don't log in on this board anymore.

Went downhill fast.

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.