Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says - page 3.

geegaw

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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.

There are also quite a few components that follow the trend slowly and express optimism about the bad market but like the indicators showing, the fear level of many components is also increasing, even quite suddenly when many new people come in contact and have received such a first stun, they become conflicted and make war in many community groups with negative emotions. With no way to curb the emotions of these disruptors, their influence and fear of selling can further derail them in terms of bitcoin's value, hope that a good news or some kind of signal can save such souls

bitzizzix

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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.

Nahl

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for me it just a correction so no worried about that even some of traders in my country predict 4 years phase will happend in december this year which mean if they predict true then we can see new peak for bitcoin so no need to panic and hold your bitcoin because as many people says holders is the winner

BuNga_cute

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Quote from: davis196 on November 18, 2021, 01:56:23 AM

No experienced Bitcoiner is worrying about the Bitcoin price.
Only the newbies are gonna worry about every 5-10% price drop.
A price correction after a new ATH was pretty much expected.There's no surprise and nothing shocking.
Many traders wanted to sell at ATH and take the profits.Now many traders are looking to buy the dip,so they are going to wait for a lower price to enter the market again.
I guess that the whole purpose of this analyst was to make the newbies feel better. Grin

I kinda feel sorry for the noobs.Freaking out every time the price drops must be really tiresome. Grin

All of us who have been in the crypto world for a long time will not panic about the current Bitcoin price drop. Like you said a 5%-10% price drop is
nothing to worry about, because Bitcoin does often experience corrections before the price goes higher. Only newbies who don't have experience
will panic when they see the current market, therefore for newbies it is advisable to study Bitcoin first before deciding to invest in Bitcoin. In order
to understand how Bitcoin works, so it's not easy to panic if they see Bitcoin prices go down. I believe the Bitcoin price drop will not last long,
because some investors and traders who are already taking profit will start slowly buying Bitcoin again. It is also possible that next week Bitcoin
will start bullish again and could soon return to prices above $63k again.

leea-1334

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I am not worried. This was always due to happen after rising so many weeks and months,,, even this is not as bad as september and see what happened in the following month right?

The only thing that worries me honestly is people and experts saying not to be worried. You know,,, they love saying everything except what they really are doing Grin

davis196

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No experienced Bitcoiner is worrying about the Bitcoin price.
Only the newbies are gonna worry about every 5-10% price drop.
A price correction after a new ATH was pretty much expected.There's no surprise and nothing shocking.
Many traders wanted to sell at ATH and take the profits.Now many traders are looking to buy the dip,so they are going to wait for a lower price to enter the market again.
I guess that the whole purpose of this analyst was to make the newbies feel better. Grin

I kinda feel sorry for the noobs.Freaking out every time the price drops must be really tiresome. Grin

Poker Player

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Well, I also believe that there is no need to worry. In 2017 in mid-November we had a 40% drop just before the price went parabolic. What happens is that there are many people who get nervous at the slightest drop, but if we put things in perspective:

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

Bitcoin did a 50% growth and went 7% downwards, oh my God!

Lol.

Juwel12

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Day trader will definitely sell their assets for this It's normal to be dump a little bit.
Actual bitcoin holders Won't sell their btc no matter what.
There will be a day when every singel person will own atleast a penny of bitcoin. Can you imagine if everyone are trying to own btc as a valuable assets like gold. Although btc volume is limited as gold, we don’t know how much the gold volume will but we know that there's a limited volume for BTC.

So It can be said that btc Won't drop a larger volume, if it happens it Won't forever It's temporary.
Panicked seller always loose😇
Happy Trading😇

worle1bm

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We also know the same and it's not the first time that btc is going down falling from the high levels because many times we have seen in the past also that it has shown similar trends and that's what highly volatile market means.We have also seen $29k this year dips but still we are at $59k at which we are panicking so don't need to worry about it as we can easily sail this one also and the next ATH island is waiting for us to join the party.The experts and btc optimist are of same thoughts.

dzonikg28

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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.

The drops don't worry me at all. By now there are so many financial interests and players involved with Bitcoin that you can almost be 100% certain this thing isn't going to go for a full nose dive. There is just too much financial interest behind Bitcoin. Taking into account its scarcity and also its level of overall global establishment, I am a firm believer that it will go up further long-term. Sometimes I do ask myself where the limit could be, but I couldn't yet come up with a plausible answer. People are throwing around numbers, but none of those numbers really fundamentally convinced me.

OgNasty

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I don't think it's worrying either. What would be worrying is if we went straight up with no corrections. Then all the gains would be off the back of leverage and the entire thing could crumble at any moment. I'm sure we'll hit this point, but I'd like to see it happen with a massive bubble, not a little blip. That's why analysts say we're on firmer footing than we were the first time it hit $60K. This time those positions have been tested a few times and withstood the leverage calls. The more we see drops followed by new highs, the better.

yhiaali3

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I don't expect the bitcoin price to drop to 50,000$ There is a strong resistance at 54,000$ If it really happened this would be very concerning because it could be a sign of entry into the bear market, I think one of the reasons for the bitcoin price drop at the moment is the Mtgox issue, The news says that the case has been finalized and that 140k bitcoins will be sold and cash will be paid to those affected by hacking the Mtgox exchange, and the entry of this huge number of bitcoins will flood the market and may cause a major disruption. This is all news to put pressure on the market and just guesswork and no one knows what exactly could happen.

Wexnident

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And it isn't that odd. Honestly, I don't even see the reason as to why it should be worrisome, and heck it's actually an opportunity to buy the dip no? Honestly, we've had a pretty solid run ever since the last ath imo, the market has pretty much consolidated itself over the current price and the market honestly oozes optimistic vibes over the end of the year. The market has pretty much consolidated it's current market position, there's still a chance of going below $50k but honestly, the chances are low. And even if it did, I'd expect a quick bounce back.

enhu

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Quote from: michellee on November 17, 2021, 10:30:17 PM

Quote from: TravelMug on November 17, 2021, 09:11:26 PM

And instead, why not take this perfect opportunity to buy the dip?

I guess crypto media hasn't found any good subject to write lately, so they make this kind of drop dramatic for everyone and then tell us not to worry, Lol.

Those that worry on this kind of drop are those noobs who buy at the top because they thought that this is a get quick rich scheme. Just another correction, after reaching a new all time high, that's it.

If people use this time to buy the dip, they will be happy later, especially if the price increase more than $70k and hits more than $100k in the future. They will feel that what they buy right now will give something big to them and their bitcoin investment will be worth doing while the market is in the downtrend. The media is smart to blow up the public and say that bitcoin will not survive, but bitcoin will rise again at the right time. People must not worry about this instead of buy more if they have more money.

Or they could wait for the price to dip at $50K, a higher return if they will wait but this is if the dip will drop the price to $50K. I actually think it will just be on $53K since this is where the support level is. It will bounce higher after that and will probably reach up to $75K.

The media has been that way even before Bitcoin goes more than $5K and they still want to bury Bitcoin as it died a hundred times. The more fud the better the price will be when BTC spikes again.

michellee

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Quote from: TravelMug on November 17, 2021, 09:11:26 PM

And instead, why not take this perfect opportunity to buy the dip?

I guess crypto media hasn't found any good subject to write lately, so they make this kind of drop dramatic for everyone and then tell us not to worry, Lol.

Those that worry on this kind of drop are those noobs who buy at the top because they thought that this is a get quick rich scheme. Just another correction, after reaching a new all time high, that's it.

If people use this time to buy the dip, they will be happy later, especially if the price increase more than $70k and hits more than $100k in the future. They will feel that what they buy right now will give something big to them and their bitcoin investment will be worth doing while the market is in the downtrend. The media is smart to blow up the public and say that bitcoin will not survive, but bitcoin will rise again at the right time. People must not worry about this instead of buy more if they have more money.

Darker45

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For a beginner who hasn't seen much of Bitcoin's worse price fluctuations yet, this might look worrisome. Imagine having $69,000 and then after just a few days the price suddenly went down to $58,000. That looks really terrible to the untrained eyes. Bitcoin losing more than $10,000 in just 2-3 days is really traumatic to the newcomers. It might, or perhaps had, even cause some panic selling.

But to someone who has seen Bitcoin's worst, who has already began to enjoy its volatility and rough ride, this is nothing but another ordinary day.

Ozero

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

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)

At the same time, the periodic drop in the price of bitcoin puts an end to our desire to see a bull market later this year. In fact, we have not yet seen a bull market, with the exception of a few waves of growth. And this is no longer so good that one does not directly pay attention to it. We expected a significant rise in prices over the past six months. But the hope for such growth is dropping.
It is still quite difficult to say what will happen to prices in the near future.

TravelMug

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And instead, why not take this perfect opportunity to buy the dip?

I guess crypto media hasn't found any good subject to write lately, so they make this kind of drop dramatic for everyone and then tell us not to worry, Lol.

Those that worry on this kind of drop are those noobs who buy at the top because they thought that this is a get quick rich scheme. Just another correction, after reaching a new all time high, that's it.

Twinkledoe

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Quote from: Vaskiy on November 17, 2021, 06:17:03 PM

Quote from: worldofcoins on November 17, 2021, 03:05:48 PM

I have been saying it since a long time, Even if bitcoin drops below 10k usd it will recover back in a year easily but looking at the market now it's rare if bitcoin drop below 30k.

Bitcoin's popularity is only going to rise and children in schools, universities will know about it and will be curious to pay in bitcoin thus raising the bitcoin's users and market cap, thus higher price.

The real-time usage of bitcoin in daily life have been increasing with time. We don't know how far this happens with the third world countries, but grown country people are much aware and are getting used to it. As said the future generation will know much about cryptocurrencies and they'll intend to spend. This keeps the market high through regular usage.

You will never expect that third world countries are already into crypto and more open to crypto business than others. So yeah, crypto adoption is growing so if you are a long time investor, there's no need to worry. Some are panicking because some of them have short term targets and if it goes down below their buying price, they feel they are screwed. It may be going down today, but very soon, I believe it will go up again. So for those believers and have funds to spend, it is good time to accumulate more.

Stedsm

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Quote from: Vaskiy on November 17, 2021, 06:17:03 PM

Quote from: worldofcoins on November 17, 2021, 03:05:48 PM

I have been saying it since a long time, Even if bitcoin drops below 10k usd it will recover back in a year easily but looking at the market now it's rare if bitcoin drop below 30k.

Bitcoin's popularity is only going to rise and children in schools, universities will know about it and will be curious to pay in bitcoin thus raising the bitcoin's users and market cap, thus higher price.

The real-time usage of bitcoin in daily life have been increasing with time. We don't know how far this happens with the third world countries, but grown country people are much aware and are getting used to it. As said the future generation will know much about cryptocurrencies and they'll intend to spend. This keeps the market high through regular usage.

If you see the market like an investor, you'll always take it positively but, with a hawk eye and doing X-Ray kinda brief analysis, you'll see the real picture. I'm very happy with the recent dump because it helped so many investors to jump on BTC without the fear of buying at the top. Though, as there are news about date for MT Gox funds release also getting nearer day by day, fear is taking over. Stay calm till that date and buy everything you can after DYOR so not to leave any opportunity.

Topic: Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says - page 3. (Read 496 times)