Bitcoin price drop >40% in last 7 days. Is it a DIP or CRASH?

stomachgrowls

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Quote from: Wilhelm on May 20, 2021, 12:22:22 PM

Normal 40% dip.
Bitcoin has gone down the deep end many times and recovered.
Is just another fake China ban that noobs fall for....

Exactly!

We've seen this stuff way back into those previous years where China ban up and the revoke its decision and now it did happen again but what happened in the Market?

It can bulge but doesnt mean that it would be totally be putting into a bearish manner.It did make out some recovery after hitting that strong support based on technicals.

-40% isnt something that we can call a crash but rather a dip but if this one would go further then we might be seeing another event just like what happened in 2018 crash.

el kaka22

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By the looks of it I could say it was a dip. I mean we have seen as low as 33k from what I saw but CMC says it bottomed even at 30.6k at some point. Where are we now? at 42k or so, that tells me that it was a dip and we recovered. Going around 11k higher is not that easy and even if you think 41k is nothing compared to what it was just a week ago, I have to say it is not that bad, I mean the recovery not the price.

I imagine it will be even better soon as well. Hopefully we will see more and more increases, I always like it when bitcoin goes up, but even if there is a fall let it be a fall that ends up like this in the end that allowed us to go higher very quickly, that allows us to go down, get a good discount, buy, then wait for it to go up which if you did during the past 24 hours you have made a good amount of profit and that is a good thing.

Wilhelm

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Normal 40% dip.
Bitcoin has gone down the deep end many times and recovered.
Is just another fake China ban that noobs fall for....

Argoo

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Quote from: LogitechMouse on May 20, 2021, 01:06:46 AM

Quote from: janggernaut on May 19, 2021, 09:31:14 PM

What do you think? Is this DIP or CRASH? and
What do you do? Wait or buy more?

Many can call it just a dip. Many can say that it is just a normal correction and it will go up in the future. Many are saying that it is already a crash and the start of the bear market.

Anybody can describe it either of the three but one thing is for sure, many investors are crying right now because of what is happening right now Cheesy

. Dip or crash, many lost their money and worst life savings because of what happened. I remember when there are some people who are tweeting on Elon Musk's tweet saying that they lost all of their money because of him and they want him to tweet something good so that they can recover. Pure stupidity if you will ask me.

Dips, crashes and corrections are just another opportunity for us to buy some more. Do dollar-cost averaging and you are good to go

. Unfortunately, I don't have that much cash on hand so I can't buy more. :X

It is now impossible to predict the behavior of the cryptocurrency market. Everything will depend on many factors, primarily news. In addition, we do not yet know what position the whales will take: whether they will deepen the fall, or, on the contrary, try to quickly restore the market. Perhaps in a few days it will become clearer what is happening with the market. Today, for example, bitcoin has risen from $ 38,000 to $ 41,480, and now I see that it has dropped again to $ 39,700. So far, it is good that he is trying to grow, and not just constantly fall.

cryptoknightt

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China said the same thing in the previous year. I'm really bored with their game. For me they just manipulate the news and create panic in the crowd. But I am still grateful because events like this are a good correction for bitcoin going forward. I think Bitcoin will actually hit 60,000 tomorrow. as soon as possible hopefully.

hugeblack

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If you follow the price this way, you will definitely make a loss.
There is no real link between the above news and the bitcoin price. When the price falls, Media channels (FUD) try to find logical justifications for the reason behind the decline, but that may not be the real reason, especially the "China ban"
I can say that the reason for the rise in Bitcoin is Justin Sun buying, but is this the real reason? no one knows.

Try not to follow the reasons that the news channels give you and base your investment decisions on. DYOR

CSquared Collective

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As some have commented, the terminology really doesn't matter. If you are long term and really the fundamentals haven't changed, you should buy some more (on the "dip") if you have more cash. If you are a trader (day, short, medium), then you should be disciplined and re-evaluate the current price movement at various time scales then make your trade. You can be very profitable even if you are 51% right on your trades, or even less if you are good at cutting losses. Trade sizing and bank roll management all key.

pooya87

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Technically any drop bigger than a certain percentage is considered a crash, I'd say more than 40% drop that we had recently from the top is by all definition of the word a "crash".
A "dip" on the other hand is usually a smaller drop like something around 10%.

I still wouldn't call this a "bear market" though because it is not yet a downtrend but a drop that took place in a short period of time which is just a simple drop. It is also because I believe this will only be a short term thing, possibly a couple of weeks of staying in a certain range after market stabilizes and panic sellers are out of bitcoins to dump. Then after some small accumulation the price will probably slowly go back up to $50k.

rahmatrf331

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https://i.imgur.com/3fXQC4m.png

Quote from: Chato1977 on May 20, 2021, 01:58:07 AM

Don't worry Ethereum has 33% and Binance has 42% meaning this is not only a Bitcoin issue but the whole market instead.

market is Dipping now and this is the best way to take advantage and invest big before the Flow goes up again.

it seems that all tokens are being hit by a hurricane that causes all tokens to fall, not only bitcoin. In this one week, the whale was drowned by a big wave that caused the whale to prey. bitcoins from $ 60k fell to $ 43k in a very short time, like wood collapsing in a hurricane.

Wexnident

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Dip. We had close to -20% for the entire week, though it's a gradual move except for the last days where it straight out dropped from $40k to $33k or so. The steady drop early on was quite natural imo, a correction so to speak, as for this, well we all know the reason so I won't elaborate more about it, but we should see it going back up since opportunists will see this as a chance as mk4 said, to buy BTC at a low price. We ain't seeing it going up for the next few days imo though.

aoluain

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Its both! over 50% drop from the ATH but a dip because its temporary.

If I can use the analogy in relation to a CRASH,

The car [Bitcoin] was involved in a crash but fortunately the car was a superior
brand which was built to the highest standard, Not only is it a class leading brand
its the only one in this class. This means that the car didnt have to be scrapped,
it is under repair currently and will be back out on the road in top condition shortly.

Chato1977

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Don't worry Ethereum has 33% and Binance has 42% meaning this is not only a Bitcoin issue but the whole market instead.

market is Dipping now and this is the best way to take advantage and invest big before the Flow goes up again.

LogitechMouse

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Quote from: janggernaut on May 19, 2021, 09:31:14 PM

What do you think? Is this DIP or CRASH? and
What do you do? Wait or buy more?

Many can call it just a dip. Many can say that it is just a normal correction and it will go up in the future. Many are saying that it is already a crash and the start of the bear market.

Anybody can describe it either of the three but one thing is for sure, many investors are crying right now because of what is happening right now Cheesy

. Dip or crash, many lost their money and worst life savings because of what happened. I remember when there are some people who are tweeting on Elon Musk's tweet saying that they lost all of their money because of him and they want him to tweet something good so that they can recover. Pure stupidity if you will ask me.

Dips, crashes and corrections are just another opportunity for us to buy some more. Do dollar-cost averaging and you are good to go

. Unfortunately, I don't have that much cash on hand so I can't buy more. :X

mk4

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Quote from: janggernaut on May 19, 2021, 09:31:14 PM

What do you think? Is this DIP or CRASH?

You can call it whatever you want lol but the fact is that it dropped 20%+ in a week. But whatever, after being into Bitcoin for years and years, stuff like this just makes you immune to panic. It's just another opportunity to buy in at cheaper prices. (wish I had more cash though)

GreatArkansas

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Just dip only.
Remember from the previous bull run 2017, when we peaked at around $19,000. We saw more than 70% dump from the all-time-high, dumped around $3,000+.

In the case now, we experienced around 50% dropped recently. If ever we will test again the local bottom, I am confident we will experience again the more than 70% dump from last year. The market now is totally different.

Kittygalore

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That much amount is a crash in my vocabulary. Dips would be some occasional drops in prices with a guaranteed pump in the next few days but this one is a bit different. I don't have any money right now so I have no choice but to wait but when I finally get it and the prices are still going down, I will put all of it in bitcoin to increase what I currently hodl.

janggernaut

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We just (and still) entering a bear market right now. Bitcoin was almost reached $60,000 but it failed 2 times to break $60,000 and started to drop. The drop was only a little, and stable around $55,000 - $58,000, then Elon decided to stop bitcoin payment on TESLA which made Bitcoin drop even deeper to $45,000. Bitcoin consuming so huge energy, claimed Elon.
Then the next news when china decided to ban Crypto, which we have heard it many times before, which make bitcoin price plummed deeper to almost $30,000.

What do you think? Is this DIP or CRASH? and
What do you do? Wait or buy more?

Topic: Bitcoin price drop >40% in last 7 days. Is it a DIP or CRASH? (Read 173 times)