Topic: Bitcoin price support above 30000? - page 4. (Read 422 times)

It happened in the stock market and in the cryptocurrency.We should use the time and current scenerio for the process of getting profit.The war on UKraine was maybe initiated by the U.S against the Ukraine .But the innocent Ukraine start to war against Russia and they are not worth enough to fight against Russia.




Bitcoin was known by the decentralized concept.It may be used by the people for get a profit for the short period.After the panic,all the people started to sell all their bitcoin and the price dropped automatically.

Bitcoin is now undervalued, but the world is facing a lot of health, political and economic strikes that make investing in stocks, assets and other high-risk investments less attractive and therefore there will not be much liquidity for these currencies.
If there is a rise, it will be a lot and it will break the 65 thousand barrier easily, but we have strong resistance points at 42 thousand, 46 thousand and 48 thousand, which are not easy to break, if it is broken, all points around 50 thousand seem easy.

 I am not so sure if the market should crash during a war. I feel like crypto would be a lot better for people who are in a war zone. What are you going to do with fiat? You are literally using something that could be worthless in a second. The best way would be to put all of your money into crypto. Look at Russians, they are "winning" the war and yet we are seeing Russians becoming poorer and poorer because of it. I do not know if that is winning or not, Putin might be happy about it but the reality is that russians are definitely getting unhappy about it for sure or at least poorer. If they kept their money in crypto then they would have been richer right now.

There is a correction in market at the start of the year that makes the price decline, but now the news of war , threatens more the market to decline as the continuous need of some users or investors to use cash while the war is still happening. The economic as well the prices in living now requires bigger allocation due to war like how gasoline skyrocket their price due to demand, the needs of investors to safen their investment is their priority like switching in the meantime in usdt while the market is still affected by the war and we’re not sure whether it will break the support price

Yeah if everything crashes, it's probably positive bitcoin goes with it rather than against it (otherwise we'd be due a bigger drop later on).

Every market was panicked since Ukraine's president declared they were being invaded.

Btcusd has had its daily % loss sandwiched between the uk100 and German30 too (just two semi random tickers I was using to compare stock strength).

Exactly the point lots of commodities in the global stock market are on downtrend movement only crude oil is having a green chart at this moment and that increase in the price of crude may have also been triggered by low supply due to the crisis rocking Russian and Ukraine.
We are on the same page on this a lot of bad news have been responsible for the sudden crash of the Bitcoin market and the point I was trying to make is that today's invasion of Ukraine by Russia is just a part of the many bad news but not entirely responsible, we have seen a similar crash in bitcoin price in the past such as in 2018 when China declared cryptocurrency ban and some other bad direct attacks news on Bitcoin that are responsible for such crashed in Bitcoin price. We may see Bitcoin recovery in price even if the Russian 🇷🇺  vs Ukraine 🇺🇦  attacks continues in the coming weeks bitcoin does not rely on a single trend to maintain and determine its market value.

I wouldn't be surprised if it reaches 25K because that can be the lowest low if this is actually the bearish trend and we are not actually far away from this happening because lot of things aren't good now the war mode between countries almost crashed every investments sectors.

for your information mate i've been learning the graph of bitcoin since the downtrend. And before month of January ends bitcoin is gradually recovering because it's already respecting some key levels which is the demand zone, and all things is a positive sign because of the structure of the candles and etc..

But suddenly when that news from Russia and Ukraine emerged bitcoin suddenly changed direction this month of February wherein the price show a declined and tends to restest on the demand zone.

So it's impossible that they are not the one who can influence bitcoin right now, because to be honest panic selling and decline happens only when there's a negative news..so in my personal opinion i don't think that there's another reason for this situation.

I don't agree with this very part of the statement, as the sharp drop in Bitcoin price is not as a result of Russian Ukraine unrest, Bitcoin market have shown a lot of possibility of downtrend market since the beginning of February 2022 as the pattern in the market drop have been on a drastic levels always melting down almost $2k to 3k drop within a short period this can be refer to say as crash in price Bitcoin is a highly volatile commodity and it price a hardly affected by a section of events that doesn't have direct implication on it services.
This is the part that got my interest, Bitcoin as a decentralized asset on the global stock market is not controlled by any outside power so the price of Bitcoin can move in any direction and at any time, if you follow the global stock market today a lot of commodities price are on a downtrend and even the Russian stock is going down likewise other stocks so the general stock market is on a blood bath mood not only Bitcoin, I am very sure Bitcoin will not fall below $30,000 before it will recover back to 40,000 or even above,
The global stock market as a financial chain that incorporates a lot of other components that are performing at a different level and Bitcoin as a decentralized asset within the many other is suffering from the same faith as others who are experiencing a bad trading day except for crude oil who's the price in on it highest price of $100/per barrel the highest.

Bitcoin resistance recently since few hours ago has been $35000, the recent price downturn has been because of Vladimir Putin declaration of Ukraine invasion. Some bitcoiners panicked and sold their coins leading to the sharp price downturn. Normally also that this time does not favor bitcoin price to increase. Since yesterday, the price of bitcoin falled from above $39000 to below $34000 today and it is around $35000 now.

Bitcoin is not controlled by any country but remain decentralized, I am thinking the price just falled because of panic and there can be correction. What I am thinking is that even if there is no war, bitcoin price just want to fall. Taking look from the history, bitcoin price is more likely to fall this time.