Topic: btc dropping more then 39% in 24/h - - page 2. (Read 769 times)

It feels like everybody is cashing out their bitcoins while they can and while there are channels through which they can receive the cash. It might not be the case but with the way things are going right now, it seems that everyone is busy panicking while forgetting the fact that a lot have actually survived after contracting the disease. The stock markets are also getting rough lately so it's not just the crypto market that is experiencing the bloodshed. It's just crazy that a few weeks back, we are still speculating for a breakout to possible $13000 ranges and up, but boy what a turnaround it was.

A few days before no one could have thought that they could buy bitcoins at 5000$. And today you can buy bitcoin cheap which you may dream to buy at such low prices. Everyone knows this is just a panic selling because of virus or overall negative sentiments of the market and this will not last long. Soon bitcoin will bounce back hard and those who bought at such low prices will really enjoy the profits.
Also halving is nearby, so fundamentally bitcoin is very strong although TA does not look so good at present moment.

Absolutely and i believe crypto investor should have understand that the price of the market wont stay like this for long and the better option is to accumulate more coins when cheap rather than alarming or worried about the market circumstance. Besides, every market setting are experiencing loses which we all the reasons behind and i hope the whole COV end this month or early next month.

It was a bit alarming since it just all happened in 24hours comparing it to the previous dump in the market there was a big difference in this dump and probably a big loss for a lot of the bitcoin investors especially from exchanges this market price dump could really have a big effect since their profit came from bitcoin they could easily lose a bit amount of money if the dump continues, for sure it would take a long time to recover, I also heard some exchanges stop their trade because of this dump.

I think one of the main reason could be the Covid 19 virus since it already affects a lot of countries and continue to spread until now surely it affects a lot of companies and business, also the community where people get quarantine because of the virus.

Still, bitcoin could easily recover its market price since this is a big opportunity for the investors to reinvest for a big profit in the future. Even me is having a second thought since the market price is a dump to almost 3000k that is lower compared to the previous dump, meaning the lower the dump the higher the profit in the future.

A lot of panic occurs when the price of BTC goes down through the price of $ 5k.
The market may recover after the covid-19 outbreak disappeared, but reserve funds are one of the reasons why people don't buy deep prices.
People still choose to save their money on FIAT and wait for the market to show bullish signs.

Having a lot or a few funds for now is very good and appropriate to buy some bitcoin and wait for prices to recover. This is a drama made by Whales and we as small players have to hitchhike on Whales back.
Good luck

Having read through these posts in the topic, there does seem to be too much of panic investors trying to cash out what they have invested. US markets and traders always play a major role in the upliftment or the losses in crypto market. Well both the stocks and crypto has wiped out in a week, the remaining safer asset class which hasn't experienced severe downtrend are precious metals. The current trend could be seen as a positive way to bag up as much bitcoin as you can and can very well become a wholecoiner as well. Precisely COVID-19 has been one of the factor for the widespread sell-off of both the stocks and bitcoin, but if you have played the game correctly you wouldn't have faced much losses.

Personally speaking, I bought some stashes of USDT way back when bitcoin was trading at $9000-$10,000 area. Recently I sold them off and bought bitcoin. I have been repeating this right from 2018 major dump. When we had a major 2018 crypto dump, I never invested in bitcoin. But rather bought as much USDT as I can when bitcoin touched the levels of $6500. When it was trading at the 2018 low of $3500, I again invested in btc, wiping out my USDT balance and traded them back to USDT during the 2019 major pump in June.

I would continue this up until I have few stashes of btc for long term storage. Neither of us should have a long term investment on btc without trading unless you have accumulated some decent whole bitcoins. Trade actively, increase your holdings and take out what you have invested. The remaining amount (>1 btc) should be loaded on a Ledger Nano S and should go inside your safe vault.

VERY WRONG, there are more than just 2 the possibilities you list here, which tells me you are not even thinking rationally.   HOPEIUM is a very bad thing for an investor...

(3)    Bitcoin is a BUBBLE, and all bubbles pop, and wise investors are getting out before BitCoin goes down a lot more.   The LIE of BitCoin being Digital GOLD is now exposed, and when a lie about an asset becomes apparent to everyone, the price collapses.

HARD FACTS

There is no sane reason for the price drop except that everyone else is capitulating. People have been asking for lower prices, now they have it. Time to buy.

Very well said!
I really like your idea of keeping a certain amount of funds separate to buy valuable assets on such a pandemic situation.
It's quite obvious that this Covid-19 outbreak has taken the stock and crypto market by storm and has drained it very much.
One thing I don't understand is, if people know that the market will soon recover after the outbreak of Covid-19 then why aren't people buying these dips.
May be the market is shaking of the weaker hands or something. I am surely putting in all of my "side savings" into buying valuable stocks and bitcoin.

We’ve already started to see a slight recovery. There’s no need to panic, do the opposite of what the majority are doing & buy. The price is low, it won’t stay this way.

nice to see you guys being positive in terms of such critical situation like this .

 this also helps people to have a confidence to invest instead of being afraid and completely staying away after seeing some massive drops at a short period of time . 

if i have the money i wont hesitate to buy more even at a smaller chunks but sadly im also on a tight budget lately and im thinking that im selling some of my btc for a while in order for the preparation too on the said lockdown/quarantine on our place .

Yep right, if buy at the price of 4.1k$ then in a day already get a very large profit if sell it now, and falling prices like today seems to provide an opportunity for people who have spare money to buy a lot of bitcoin. Keep thinking if bitcoin is a long-term investment that can bring big profits. I will still hold until the right moment to sell it.

From what I saw earlier, in CMC,
The market price fell down to 46% within a day which is somewhat scary because many people did not expect for such thing to occur within a sudden because on the previous days, although there is already a decrease in the market price it is not as much as what we have seen today.
Selling won't give us an advantage, it won't cut down the loss but rather, it would make the loss permanent, cutting the opportunity to earn profit in the future once recovery take place. We don't have certainty of when will recovery occur, but chances are high that it would, so we better be patient. Take this time to invest because this is again, a good opportunity to do so knowing how low the price of Bitcoin is right now.

It is hard right now but for me, having cash (fiat) is better. This is my mistake because I didn't keep any fiat money to be use in buying Bitcoin right now but MEN!!!, that drop on Bitcoin within the past few days is just unexpectable.

Drastic and at the same time unexpectable.
The COVID-19 also have an effect on it because all of the markets in the world are going down right now even the US markets and crypto market but for me the main reason why it dropped is because of the leverage exchanges. There are many longs who got liquidated.

P.S. There is one asset that isn't affected that much right now even the market is bleeding and that is GOLD.

Well, we need the help of the whales right now to push the prices up. Lets just ride on it. Many are expecting too that as soon as the halving is coming, prices will rise and after that it will go down a bit and then it will go rise up again as it happened in the past 2 halvings.

This is hard to believe, I never saw this situation before. Yeah Indeed I was new to be an investor, just came at 2017 ago when bitcoin price got hype and until now I'm still learning how to invest well and manage my money as much as I can, but now I really broke. Just in one day bitcoin price almost fall in a half, how cruel it is.

I'm still trying to hold my fund and I'll never sell it because it will be wrong. Also, I just thinking to loan money as much as I can because I'm consider that this situation is really good to enter. Bitcoin was in the good situation before this crash came, I believe when this situation end bitcoin will up again.

As long as the Corona continues, I reckon the downtrend will continue especially after the halvening happens.

Even the majority of the markets are taking those huge Ls.

I wasn't surprise that it fell down to $4500 but it dumped too soon. This is affecting the market, not just the market but also the economy. We are all aware that this is how volatility works. Especially NCOVID has a big impact also in this crypto world. Anyway, the market will still recover. And this bloody  market will also be our opportunity to invest and buy more.

Sad to say that most of the people didn't expect the drop of Bitcoin today due to Covid.

But it's good news for those people who wanted to buy bitcoin again and wait to solve the global crisis and the rise of the market.

Those investors that didn't panic sell are investing a lot of money, that's why they aren't afraid of losing it.

There are two sets of investors right now,

(1) Those who panic sold-off it not everything, afraid that the price will continue to fall, we can't blame them.

(2) Wise investors, who look at the bright side of things, never complained about the price crashing, on the contrary look at it as an opportunity.

We have a choice, do it correctly!

I seriously got rekt i thought it would bounce back to $9100 and bought at $7700 didn't bother to put any stop loss because i thought the price was oversold and there was no power to bring it to the downside even more. Right now im not selling, because im still hoping that BTC would pump after this. Hopefully the CME gap comes to play this time.