Topic: Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says (Read 396 times)
Unfortunate for me and some who were looking forward to withdraw this December but again we've experienced quite the growth these past few months and I guess all we have to do for now is wait until the bearish season is over, people shouldn't be too worried about this, esp. for the long-term holders, now for someone like me, I guess I'll have to convert some of it and try to settle investing on other coins for short-term profit.
November 21, 2021, 02:40:25 PM
Yes it was dipped and reached at 56k but it today it is on 59k in few some days it will come on its old price and analyst says it will reach 100k in this season.
November 20, 2021, 09:42:28 PM
Bitcoin has gone too far and it already made lots of investors millionaires and I don't think the price drop should be the reason for us to worry. We have seen how Bitcoin could reach a good price so if its value strikes down, it would still reach a better price later on. Instead of panicking, we better take every market situation to take profit.
November 20, 2021, 06:57:13 PM
No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.
You do know that for the fact you believe in something, that doesn’t mean it is going to happen, right? If you believe that bitcoin will reach $2 million next year, that doesn’t mean it would happen. You’re simply just hoping that it would get to that level, but that doesn’t mean it would reach to that level, but it still might. So that’s why it’s good to be calculative enough and make the right decisions, when you’re investing in bitcoin.It would not be bad to take profit when the market is good. You have to make sure that when the market is bad, you have at least gotten something from it that would make you not to worry too much about it.
November 20, 2021, 04:34:33 PM
No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.
You do know that for the fact you believe in something, that doesn’t mean it is going to happen, right? If you believe that bitcoin will reach $2 million next year, that doesn’t mean it would happen. You’re simply just hoping that it would get to that level, but that doesn’t mean it would reach to that level, but it still might. So that’s why it’s good to be calculative enough and make the right decisions, when you’re investing in bitcoin.It would not be bad to take profit when the market is good. You have to make sure that when the market is bad, you have at least gotten something from it that would make you not to worry too much about it.
November 20, 2021, 02:35:00 PM
Frankly speaking I want that bitcoin goes down even more as I dont have any bitcoin right now and I want to buy bitcoin currently so for short term I really want bitcoin to go down and then I would buy some bitcoin as well all know it will keep on growing it is only a correction which will not last long so I will wait a couple of mor days then I will buy some of those
November 20, 2021, 01:31:29 PM
I think any drop in Bitcoin price is nothing to worry about, the fluctuations are frequent and sometimes so significant that it makes new investors sometimes worried. If you are a long-term investor, of course, you have high expectations, I think the price of Bitcoin will continue to rise above $100,000, if there is a decline below $50,000, there is no need to panic, because panic will make you lose. Stay focused on surviving and believe that if Bitcoin is going to go up, you get unexpected profits.
November 20, 2021, 01:29:13 PM
If you bought last March 2020 when price crash at $3k level its not really worrying but if you just recently bought at $60k+ and you are not ready for this drop then you might have a hear attack. Losing a thousand dollars in just a week is painful to new investors, am afraid if bitcoin could not break the $60k again and continue to drop below 55k then we might see a new support at 53k, but if we break the $60k then it will be very interesting in the next few days for bitcoin.
November 20, 2021, 11:04:56 AM
The recent decline in bitcoin prices is not a problem for miners because the current bitcoin price is indeed not stable so the process of decreasing and increasing bitcoin prices is common in the crypto world and I firmly believe this will only be temporary. and surely the price will stabilize in the long term
November 20, 2021, 09:17:10 AM
If they sell all their BTC just because of the correction of the past few weeks, I don't think this is a wise choice and it's self-defeating. Unless he has bought at the top price maybe he can minimize his losses by buying at the low price to average down. For those who have bought at 30K, I think this is still a normal price. Since the crash that occurred a few months ago, even now we are still getting profit because the price is still in the 50k USD resistance position.
November 20, 2021, 08:30:24 AM
Bitcoin did a 50% growth and went 7% downwards, oh my God!
I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.
This is what I call a perfect dip. (And the one at $29k)
I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.
This is what I call a perfect dip. (And the one at $29k)
There are many who were waiting for this dip to have there Christmas feast. Rather then worrying about this dip, we should worry about how much btc or alt coin we must accumulate. That's wt Buffet said, "buy when everyone fears to buy". I don't think it will fall too much, we may touch 50k or 55k not more then that.
November 20, 2021, 07:51:40 AM
Easier to say for the whales who are in it for the long term, but any body buying for the first time and price dips below the $60k which as long been difficult price barrier to break it can actually be worrisome tbh . But with scalpers this is nothing new as many would have sold at its all time high and bought again at its current dip making the double profit when price recovers and a more profitable strategy to undertake if you asked me . Btw this was unavoidable because momentum was not anchoring on any thing like some big news.
November 20, 2021, 07:07:07 AM
Only new buyers are getting worried when the price drop a little I think, an old timer in the game should already be used to seeing btc price volatility as part of the market growth,
Those who understand where this is going already took advantage of that drop to top up, btc has gained recognition a lot that little drops like this should not be a problem.
We must understand that the fall in the price of bitcoin in the middle of the fourth quarter puts an end to our desire to see a good rise in prices in this market before the end of this year. If we don't give a damn about it yet, then really, nothing is happening yet. We'll have to wait a few more months for the next wave of price growth to gather.Those who understand where this is going already took advantage of that drop to top up, btc has gained recognition a lot that little drops like this should not be a problem.
November 20, 2021, 04:56:46 AM
Only new buyers are getting worried when the price drop a little I think, an old timer in the game should already be used to seeing btc price volatility as part of the market growth,
Those who understand where this is going already took advantage of that drop to top up, btc has gained recognition a lot that little drops like this should not be a problem.
We must understand that the fall in the price of bitcoin in the middle of the fourth quarter puts an end to our desire to see a good rise in prices in this market before the end of this year. If we don't give a damn about it yet, then really, nothing is happening yet. We'll have to wait a few more months for the next wave of price growth to gather. Those who understand where this is going already took advantage of that drop to top up, btc has gained recognition a lot that little drops like this should not be a problem.
November 20, 2021, 01:08:52 AM
Quote
There is no need to fret about Bitcoin's recent drop below $60,000, according to Matt Maley, chief market strategist at Miller Tabak.
The market analyst recently told Yahoo Finance that the largest cryptocurrency could still fall "a lot" without enduring any real damage from a technical standpoint.
He estimates that Bitcoin would have to plunge below $50,000 to cause some serious damage. In such a case, the crypto king would break its trendline that goes back to the July lows:
"It can still come down quite a bit without having really major technical damage."
Last Wednesday, Bitcoin hit a new record high of $69,000, soaring into overbought territory.
Even some long-time bulls of the likes of Morgan Creek's Mark Yusko have been on pullback watch.
While Maley worries that a notable decrease in the supply of liquidity could lead to "some problems" for Bitcoin and Ether, he is still bullish in the long term.
He adds that there are plenty of equities that are "much more vulnerable" than Bitcoin.
Source: https://u.today/bitcoins-recent-drop-below-60k-is-not-worrisome-analyst-saysThe market analyst recently told Yahoo Finance that the largest cryptocurrency could still fall "a lot" without enduring any real damage from a technical standpoint.
He estimates that Bitcoin would have to plunge below $50,000 to cause some serious damage. In such a case, the crypto king would break its trendline that goes back to the July lows:
"It can still come down quite a bit without having really major technical damage."
Last Wednesday, Bitcoin hit a new record high of $69,000, soaring into overbought territory.
Even some long-time bulls of the likes of Morgan Creek's Mark Yusko have been on pullback watch.
While Maley worries that a notable decrease in the supply of liquidity could lead to "some problems" for Bitcoin and Ether, he is still bullish in the long term.
He adds that there are plenty of equities that are "much more vulnerable" than Bitcoin.
No worrisome for long-term investors even if the price drops below 50K. If you can be a long-term investor and you believe to see bitcoin price even above 500K, no worries if the price drops from 69K to 50K. Otherwise, even a one percent price fall can make you worry.
and besides this 2021 will make multiple increase before dumping in the following years , but if you managed to buy when the price is half cheaper then yes you may see the opportunity to sell out but depend on your motive of investment.
November 19, 2021, 11:25:27 PM
I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.
I am also optimistic that the price won't drop below $50k. The current drop is just a normal correction, so it will end soon and increase again to reach the next target (pass $70k level). November and December are special months in Bitcoin bullish histories, these are the time when Bitcoin soars drastically before the next bearish. However, there is no guarantee that the same history to repeat, there is always a chance for a different bullish scheme. Let's see how far the drop! Then, we can estimate the possibility of the next pump/dump in Bitcoin. DYOR/DWYORquite surprised that Bitcoin dropped below $60k, but I'm still optimistic that the price of Bitcoin will soon recover and can rise again to prices
above $60k. I agree that Bitcoin is not going to drop below $50k, moreover November and December do have a good history for Bitcoin.
Because usually near the end of the year Bitcoin pumps are often quite high, so I hope this year the same thing will happen. But because investing
in Bitcoin does have a very high risk, of course we have to prepare a backup plan in case Bitcoin moves not according to our expectations.
In conclusion, we really have to be careful when investing in Bitcoin, always do an analysis before making a decision.
Not only you who doubt Bitcoin and betray it, most people will do the same, who would have thought Bitcoin could be this big now. Even I believe
Satoshi Nakamoto was surprised by the achievements of Bitcoin, since the beginning Bitcoin was created only as a currency, but surprisingly Bitcoin
could be the best digital asset right now. I also do not deny if anyone equated Bitcoin with the internet in the 1990s, because many people did
not believe and ignored Bitcoin when it first appeared. Similar to the internet when it first appeared, many were pessimistic, but now it has become
a basic human need. We learn from our mistakes, never underestimate new technology, so if new technology emerges in the future, soon
we learn correctly and adopt it. Now it's actually not too late to invest in Bitcoin, because Bitcoin will go up in price much higher, so take advantage of
the current price drop to collect Bitcoins.
November 19, 2021, 04:22:02 PM
Any decrease will not be a problem if the targeted investment is a long-term investment.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.
Yes, Long term investment is always profitable, this little correction will give the market more strength to move forward. It is surely a buying opportunity for newcomers. I don't think I will ever get the chance to buy Bitcoin anytime below $50K, because maybe by the end of this year it will cross $90K and once it crosses $90K the chances of its price falling will be greatly reduced, so now is the right time to buy Bitcoin for long term investment.
November 19, 2021, 04:12:49 PM
Any decrease will not be a problem if the targeted investment is a long-term investment.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.
Yes, Long term investment is always profitable, this little correction will give the market more strength to move forward. It is surely a buying opportunity for newcomers. I don't think I will ever get the chance to buy Bitcoin anytime below $50K, because maybe by the end of this year it will cross $90K and once it crosses $90K the chances of its price falling will be greatly reduced, so now is the right time to buy Bitcoin for long term investment.
November 19, 2021, 04:05:20 PM
Any decrease will not be a problem if the targeted investment is a long-term investment.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.
The decline in prices is a good opportunity to add more assets. good capital management is needed to be able to buy at lower prices.
The strategy must really be carried out and the most important thing is a strong metal.
November 19, 2021, 05:25:03 AM
I find it unlikely to drop below $50k, but obviously not impossible. This is a very important month and I'm feeling specially optimistic. I've been waiting for the November and December of 2021 long time now. If the market repeats the same behavior it had in 2017 and 2013, we may even touch the $200k.
I am also optimistic that the price won't drop below $50k. The current drop is just a normal correction, so it will end soon and increase again to reach the next target (pass $70k level). November and December are special months in Bitcoin bullish histories, these are the time when Bitcoin soars drastically before the next bearish. However, there is no guarantee that the same history to repeat, there is always a chance for a different bullish scheme. Let's see how far the drop! Then, we can estimate the possibility of the next pump/dump in Bitcoin. DYOR/DWYORPeople who are already experienced in the crypto world, consider it normal for Bitcoin to drop below $60k right now. Although I was actually
quite surprised that Bitcoin dropped below $60k, but I'm still optimistic that the price of Bitcoin will soon recover and can rise again to prices
above $60k. I agree that Bitcoin is not going to drop below $50k, moreover November and December do have a good history for Bitcoin.
Because usually near the end of the year Bitcoin pumps are often quite high, so I hope this year the same thing will happen. But because investing
in Bitcoin does have a very high risk, of course we have to prepare a backup plan in case Bitcoin moves not according to our expectations.
In conclusion, we really have to be careful when investing in Bitcoin, always do an analysis before making a decision.
In the past I betrayed bitcoin and it turned out to be my biggest mistake, I am confident that over time it will continue to give great satisfaction, you need to have patience and courage, bitcoin is a certainty, it is like the internet At the end of the 90s, few believed it and many have betrayed him, but in the end the internet has become the revolution of the world. Be patient.. dont panic
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