Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says - page 2.

bounceback

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Quote from: Vaculin on November 17, 2021, 04:02:27 PM

2021 is very different from its previous years because a lot of big institutions today have already backed bitcoin so we can say that the adoption rate this time is very strong and is not easy to break. Of course, bitcoin is still prone to show price decline whenever price correction enters the market but we can be more confident this time that bitcoin price won't really drop below $30k or even $20k because of the strong support it had.

Yes I agree with you 2021 is a really great year for bitcoin because this year bitcoin experienced a very significant price increase and made bitcoin managed to touch new ATH earlier this month at $68k and beat ATH in the previous month based on CMC data, so this shows us that currently bitcoin is the only cryptocurrency investment coin that is most sought after by the public.

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Quote from: kawetsriyanto on November 18, 2021, 06:35:05 PM

Quote from: BlackHatCoiner on November 17, 2021, 02:46:06 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/DWYOR

People 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.

qwertyup23

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Quote from: titular on November 17, 2021, 02:38:51 PM

People need to stop being so dramatic.

We had literally had almost two months of uninterrupted growth. The greed some people show just baffles me.

To be "worried" about this recent correction is laughable.

I think rather than seeing this as a negative outcome, take this as an opportunity to invest more and purchase for long term HODLing while the prices are below $60,000. People who negatively reacted to this kind of market definitely do not understand the market and price volatility of BTC.

I also agree with you- those two (2) months were seen as continuous development and price increase on BTC. Some of my friends were already speculating that its growth will further touch the $100,000 mark by the end of this year. Everyone should just let the market decide for the price and do long-term HODLing.

kawetsriyanto

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Quote from: BlackHatCoiner on November 17, 2021, 02:46:06 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/DWYOR

AmoreJaz

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Quote from: ultrloa on November 18, 2021, 06:07:11 PM

Quote from: oHnK on November 18, 2021, 05:17:01 PM

Quote from: BIT-BENDER on November 18, 2021, 04:50:04 PM

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

The negative issues that China has recently spread are natural for them to do, but they continue to have an impact on the market. Even though we all know, their government is also the holder of Bitcoin, they play the role of regulator to raise and lower the market price. Although this is not the only factor in the crash of the BTC price, we can use it as a reference for consideration of our choices.

https://www.google.com/amp/s/news.yahoo.com/amphtml/crypto-crackdown-china-put-bitcoin-072124409.html

They have many attempts made just to disrupt the growth of bitcoin and maybe this is just a simple manipulation tactics again so that they can buy at more cheaper price knowing that they are also competitive upon holding this so maybe we shouldn't easily get panic on certain circumstances since that's what they like us to feel so that we will sell our hold bitcoins. Maybe for now its better for majority to stop listening to China fuds or any obvious manipulation so that we will not influence newbie people to get afraid on them market corrections.

how many times have we seen this kind of price "crash" throughout the years? countless times. and yet, a lot of us are still affected by this market, maybe owed to investments that we are trying to protect. but more then likely, a lot are secretly buying their own stash as it is really good point before btc will rise again to more than 60k.
but in our situation today, it is quite different as there are so many entities involved already, even whole country like el salvador is already in this journey. so the likelihood that it will go up anytime soon is always there.

ultrloa

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Quote from: oHnK on November 18, 2021, 05:17:01 PM

Quote from: BIT-BENDER on November 18, 2021, 04:50:04 PM

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

The negative issues that China has recently spread are natural for them to do, but they continue to have an impact on the market. Even though we all know, their government is also the holder of Bitcoin, they play the role of regulator to raise and lower the market price. Although this is not the only factor in the crash of the BTC price, we can use it as a reference for consideration of our choices.

https://www.google.com/amp/s/news.yahoo.com/amphtml/crypto-crackdown-china-put-bitcoin-072124409.html

They have many attempts made just to disrupt the growth of bitcoin and maybe this is just a simple manipulation tactics again so that they can buy at more cheaper price knowing that they are also competitive upon holding this so maybe we shouldn't easily get panic on certain circumstances since that's what they like us to feel so that we will sell our hold bitcoins. Maybe for now its better for majority to stop listening to China fuds or any obvious manipulation so that we will not influence newbie people to get afraid on them market corrections.

dunfida

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Quote from: Doell on November 18, 2021, 03:59:00 PM

I'm the person not that easy to worry ! bitcoin need a correction to rise I see it from time to time even this is not a bearish ! some analysts predict it will even fall below 50K but in my opinion that price will not happen get to that point

Even myself considering to be like this and all of the years that ive been hangin around on this market then fundamentals could really make out some effect but it would be just temporal.

Sentiments or words that came from other people specially known ones would might really be that important but hoesntly they arent really that
something special for you to spot on.

It would really be just still a simple speculation that had been made.

oHnK

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Quote from: BIT-BENDER on November 18, 2021, 04:50:04 PM

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

The negative issues that China has recently spread are natural for them to do, but they continue to have an impact on the market. Even though we all know, their government is also the holder of Bitcoin, they play the role of regulator to raise and lower the market price. Although this is not the only factor in the crash of the BTC price, we can use it as a reference for consideration of our choices.

https://www.google.com/amp/s/news.yahoo.com/amphtml/crypto-crackdown-china-put-bitcoin-072124409.html

BIT-BENDER

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Quote from: Leviathan.007 on November 17, 2021, 01:47:29 PM

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-says

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.

Was amazed today from a -Newbie- when I asked her what her heart is like now that Bitcoin has dropped she said she wants it to even drop the more she has some she want to purchase, that's how confident -Newbies- are getting right now with Bitcoin, my prediction at the end of this year 2021 is $41000 let's see how correct I can be, but I think Bitcoin would drop to that or close to that.

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Quote from: Leviathan.007 on November 17, 2021, 01:47:29 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.

There are quite a lot of "get rich quick" investors these days, and most, if not all of them hardly believe in the network, they just want to get in, make good ROI, and then walk out. More often than not, this are the kind of investors that worry a lot, especially when there is an inconsequential drop in price/plunge, I sometimes do not blame this type of investors cause they do not understand the network and how sustainable it is for the long term. Having said that, investors with adequate knowledge of the Bitcoin network would take most drop in price as only just a correction phase, and they even go as far as seeing it as an opportunity to accumulate more coins.

Doell

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I'm the person not that easy to worry ! bitcoin need a correction to rise I see it from time to time even this is not a bearish ! some analysts predict it will even fall below 50K but in my opinion that price will not happen get to that point

Slow death

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if these analysts say not to worry then people should start to worry because they never get the price forecasts right, besides, if someone buys at 60,000$ and then the price drops to 30,000$ then that person needs to worry unless that person buys back at $30,000 so that when the price goes back to $60,000 he makes a profit, then in this scenario he won't need to worry about falls

Botnake

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Quote from: isaac_clarke22 on November 18, 2021, 02:57:19 PM

Quote from: Leviathan.007 on November 17, 2021, 01:47:29 PM

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Well it has been around 60k+ for long and I am expecting it to just sometimes dip, and just do the usual correction. It is nothing to worry about, we have been from 32k-ish dip and this is not anything new for us for sure.
Just keep hodling.
There are just those people that see if Bitcoin went ++ then say "oh okay", but then when it dips a little bit, they go "oh no bitcoin crash, we sell".

People tend to panic these days and i say its still normal because what if they will really lose their investments. But selling bitcoin this time, not really a good idea. I'd rather stay hodling on my bitcoin and not be carried away by my own emotions because this present bitcoin price drop will not take so long and may end up maybe in the next hours or in the next days. And worrying in times when there's a sudden drop is not really helpful because it can destruct your motivation to succeed in bitcoin. Once we decide to invest and hold our coin, then take the risk professionally, rather than seeing yourself quitting and losing in the end.

isaac_clarke22

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Quote from: Leviathan.007 on November 17, 2021, 01:47:29 PM

~

Well it has been around 60k+ for long and I am expecting it to just sometimes dip, and just do the usual correction. It is nothing to worry about, we have been from 32k-ish dip and this is not anything new for us for sure.
Just keep hodling.
There are just those people that see if Bitcoin went ++ then say "oh okay", but then when it dips a little bit, they go "oh no bitcoin crash, we sell".

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Quote from: dothebeats on November 18, 2021, 02:11:23 PM

I don't know why people are expecting bitcoin to pump continuously and indefinitely. We have months of continuous rise and it's just normal for the price to come down when there aren't any buyers willing to buy at that price, and only the sellers are left in the market. This time, the selling pressure prevailed, hence why the price climbed back down to sub-$60k. Not really worried one bit about the price though, as I believe that whatever price range we are in, it is justified and we're still really in safe territories right now.

I think they are eager to see Bitcoin touch $100k that they tend to forget there are traders and not just investors who are always buying. It's safe if Bitcoin is like this way when there's no continuous straight line of pump since we know that people who are trading knows how to play this market.

As you can see when Bitcoin suddenly dump from $66k down to $56k it is just slowly recovering up to $60k again. But now, it looks like a bear trap so it's understandable if we see some people starting to dump since they were just weak-handed people who can't manage to hodl for a period of time.

If they want to see the $100k this year they should know how to hodl and not just worried everything if there's a FUD or something since that's just how the market works.

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Quote from: Leviathan.007 on November 17, 2021, 01:47:29 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.

In my opinion, very few investors are willing to take this risk. Some long term investors have been doing it since the beginning and they haven't even sold their bitcoin in the market until now because there is something they expect in the future from the bitcoin they have accumulated.

I never dare to do it simply because I won't miss an opportunity to sell it at a high price although I will try to buy it again at a lower price to increase the amount of bitcoin I can buy. Logically, if I managed to sell my 1 bitcoin for $65K some time ago, then today I can buy more than 1 bitcoin for $65K. But if one is willing not to sell them regardless of price volatility just because they are a long term investor, then they can truly be said to be a gold hand investor.

ven7net

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Quote from: Leviathan.007 on November 17, 2021, 01:47:29 PM

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-says

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.

Probably the most correct decision for those who have already bought BTC is not to worry and wait for the right price. The fact is that those people who invest in BTC for a long time do not particularly care about what is happening on the market and the price of BTC, since they know their goal for sure and go to it. Those who invest in the short term certainly always have a hand on the pulse, because they want to earn a lot right now, and such a drop in price forces many of them to sell ahead of time, which ultimately leads to a loss of funds. In any case, you need not to make hasty decisions and always clearly move towards your established goal.

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I don't know why people are expecting bitcoin to pump continuously and indefinitely. We have months of continuous rise and it's just normal for the price to come down when there aren't any buyers willing to buy at that price, and only the sellers are left in the market. This time, the selling pressure prevailed, hence why the price climbed back down to sub-$60k. Not really worried one bit about the price though, as I believe that whatever price range we are in, it is justified and we're still really in safe territories right now.

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The buying force keeps faltering which shows that the selling pressure has been increasing with time. When the selling pressure increases, it reflects on the price of bitcoin. By the time investors sell their assets to secure profit, and if that isn't possible atleast they'll try to limit the losses. This leads to the formation of temporary bearish trend.

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Quote from: bitzizzix on November 18, 2021, 11:20:47 AM

I'm not at all worried about what's going on with bitcoin's current movement, because things like that happen a lot and I'm used to it, so just take it easy and don't worry and all I do is hold it in.
because I am a long term holder so if there is a correction and so on I do not feel worried because the bitcoin price will rise again and even exceed the previous high price, although I have to wait a long time but it is real and will happen the most important thing is to be patient.

That should be the attitude of a long term holder, to remain strong and patient all the time even when you see your investments are falling due to price decline. The fact that bitcoin will always recover from all forms of dumps, then we should not let ourselves be stressful because if that happens, we may resort into panic selling which is a very bad idea and should be avoided. The best thing to do right now is to stay focus on your goal and you can't achieve that if you stop holding your bitcoin and start selling it.

Topic: Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says - page 2. (Read 496 times)