BTC price suddenly dropped from $ 31K

minime0105

hero member

Activity: 1246

Merit: 534

Quote from: XwWnu on August 27, 2022, 02:29:53 PM

now $31k is there;ah very strong resistance for bitcoin, because indeed if $31k breaks then we will see bullishness again,
but for now I think bitcoin will be at $20k level so better wait for those who haven't bought Bitcoin.
don't be in a hurry because the price of bitcoin is also still very sensitive to the news

The factor that are supposed to consider most is the amount of Bitcoin now not tomorrow because what we are seeing today in cryptocurrency is not what we think of because yesterday the price of Bitcoin will you be at the range of 24000 and the letter g in the prize will be in the range of 2100 to19000. At this point everybody is confused about the price weather situation of Bitcoin is a bullish market or bearish market.

XwWnu

member

Activity: 406

Merit: 14

now $31k is there;ah very strong resistance for bitcoin, because indeed if $31k breaks then we will see bullishness again,
but for now I think bitcoin will be at $20k level so better wait for those who haven't bought Bitcoin.
don't be in a hurry because the price of bitcoin is also still very sensitive to the news

SaveOurSea

full member

Activity: 910

Merit: 100

Quote from: bots1 on August 26, 2022, 03:04:25 AM

Quote from: Wawa2013 on June 11, 2022, 03:44:31 PM

Quote from: bots1 on June 11, 2022, 05:14:33 AM

I think the current pattern of market movement with bitcoin volatility still looks stable even though there is a slight drop in price from $31k to $29k. Moreover, the current condition of the crypto market which is still under pressure due to various phenomena that occur, the crypto market has been in extreme fear for the past few months.

To be honest, it's disappointing that Bitcoin has dropped back to $28k, whereas previously Bitcoin had managed to hit $31k. But there is no need
to worry about what is happening to Bitcoin right now, even though Bitcoin's price suddenly drops, it can be said that so far the movement of Bitcoin is
still quite stable. And I think now is the right time to buy Bitcoin, because with such a strong support price Bitcoin should be able to rise again
in the near future. What is certain is that we just focus on collecting as much Bitcoin as possible. So when Bitcoin finally pumped up and was even able
to rise above $35k, it will allow us to generate large profits from Bitcoin. We don't need to be afraid of the volatile Bitcoin price, as long as we don't
sell Bitcoin at a low price, everything will be fine. Because Bitcoin can always recover if it experiences a decline, therefore don't panic with the price
decline that occurs, we have to believe the future of Bitcoin is very bright.

The crypto market movement is still weak where the bitcoin price has dropped too much from the ATH level. In the current market situation, as long-term investors, we can only wait and hope the bitcoin price will recover and will grow again.

predictions from bullish experts will occur from 2023 to 2024, because before the halving bitcoin has a 4-year cycle,
yes indeed we have to be patient if we want to have more profit, for now my advice is only to accumulate at the bottom price.

Davian144

hero member

Activity: 2576

Merit: 579

Quote from: bots1 on August 26, 2022, 03:04:25 AM

The crypto market movement is still weak where the bitcoin price has dropped too much from the ATH level. In the current market situation, as long-term investors, we can only wait and hope the bitcoin price will recover and will grow again.

It is not wrong if an investor expects this to happen. But apart from waiting and working on it. I think it would be better if you want to make other efforts such as buying more Bitcoins at this time and also doing other things that can help you in life so as not to immediately release the Bitcoins you currently have at low prices like now when you need more money for your life.

bots1

sr. member

Activity: 957

Merit: 278

Vave.com - Crypto Casino

Quote from: Wawa2013 on June 11, 2022, 03:44:31 PM

Quote from: bots1 on June 11, 2022, 05:14:33 AM

I think the current pattern of market movement with bitcoin volatility still looks stable even though there is a slight drop in price from $31k to $29k. Moreover, the current condition of the crypto market which is still under pressure due to various phenomena that occur, the crypto market has been in extreme fear for the past few months.

To be honest, it's disappointing that Bitcoin has dropped back to $28k, whereas previously Bitcoin had managed to hit $31k. But there is no need
to worry about what is happening to Bitcoin right now, even though Bitcoin's price suddenly drops, it can be said that so far the movement of Bitcoin is
still quite stable. And I think now is the right time to buy Bitcoin, because with such a strong support price Bitcoin should be able to rise again
in the near future. What is certain is that we just focus on collecting as much Bitcoin as possible. So when Bitcoin finally pumped up and was even able
to rise above $35k, it will allow us to generate large profits from Bitcoin. We don't need to be afraid of the volatile Bitcoin price, as long as we don't
sell Bitcoin at a low price, everything will be fine. Because Bitcoin can always recover if it experiences a decline, therefore don't panic with the price
decline that occurs, we have to believe the future of Bitcoin is very bright.

The crypto market movement is still weak where the bitcoin price has dropped too much from the ATH level. In the current market situation, as long-term investors, we can only wait and hope the bitcoin price will recover and will grow again.

XwWnu

member

Activity: 406

Merit: 14

Quote from: Epaper on August 10, 2022, 02:17:42 PM

Quote from: aylabadia05 on June 18, 2022, 01:20:24 PM

Quote from: Epaper on June 18, 2022, 10:58:05 AM

I think one of the factors behind bitcoin's decline after briefly rebounding above $31k was that investors were still worried about macroeconomic uncertainty. This has led to a sell-off that has continued for the last four months or so.

Worrying too much is really not good in the investment world and this type of investor is very easy to panic when something unexpected happens.
Bitcoin is going through a massive drop in price and is now at $18.6K. This means that in this week, Bitcoin has decreased in price by up to 35%.

Investors who think far away or who make long-term investments will think that there will be good expectations one day so that the level of concern will not appear excessively when market conditions are like today.
In my opinion, the various speculations regarding the decline in the price of Bitcoin are not accurate. Do you still remember how the market price conditions in 2018 were?

Right. Supposedly when the crypto market plummeted and the price of bitcoin experienced a significant price decline, long-term and short-term investors should respond to current conditions with calm and prudence, not a time to panic. Moreover, historically, bitcoin price movements in the long term tend to rise. Therefore, don't worry when the price drops.

dont worry when the price drops ?, i really don't agree, then how about those who have bought at prices above $50k?
shouldn't be worry? It's natural to feel worried, because the Bitcoin price could dump even deeper than this,
it's better to cut and lose if the market sentiment is bad, and don't hold it for long

Epaper

full member

Activity: 790

Merit: 112

Quote from: aylabadia05 on June 18, 2022, 01:20:24 PM

Quote from: Epaper on June 18, 2022, 10:58:05 AM

I think one of the factors behind bitcoin's decline after briefly rebounding above $31k was that investors were still worried about macroeconomic uncertainty. This has led to a sell-off that has continued for the last four months or so.

Worrying too much is really not good in the investment world and this type of investor is very easy to panic when something unexpected happens.
Bitcoin is going through a massive drop in price and is now at $18.6K. This means that in this week, Bitcoin has decreased in price by up to 35%.

Investors who think far away or who make long-term investments will think that there will be good expectations one day so that the level of concern will not appear excessively when market conditions are like today.
In my opinion, the various speculations regarding the decline in the price of Bitcoin are not accurate. Do you still remember how the market price conditions in 2018 were?

Right. Supposedly when the crypto market plummeted and the price of bitcoin experienced a significant price decline, long-term and short-term investors should respond to current conditions with calm and prudence, not a time to panic. Moreover, historically, bitcoin price movements in the long term tend to rise. Therefore, don't worry when the price drops.

ShowOff

legendary

Activity: 2618

Merit: 1181

Quote from: Davian144 on August 03, 2022, 11:10:38 PM

The solution is indeed like that, which is to sell when you have made a profit because you can still buy back when the price of Bitcoin decreases again in the market, but if the price of Bitcoin continues to increase after you sell it, then there is no need to regret it as long as you can be patient in waiting Bitcoin price is dropping again. So the bottom line is that always taking advantage of any size is a very good solution.

It just depends on what the initial goal is. If he is buying for a short term trade, then the solution is correct. But if he is buying bitcoin for a long term investment, then he should hold it and may have to buy when the price drops deeper. This is the best solution for someone who wants to profit from bitcoin in the long term, but maybe not like a short term trader who will take advantage of small fluctuations to make a profit.

But good bitcoin trading is, don't sell at a loss because bitcoin can still go higher at any time when demand is high. I have no doubts about bitcoin's future potential even though ATH is currently down 67%. Stay optimistic that ATH will be hit again in the future.

$crypto$

legendary

Activity: 2394

Merit: 1049

Smart is not enough, there must be skills

Quote from: Davian144 on August 03, 2022, 11:10:38 PM

Quote from: Kadal Ijo on August 01, 2022, 11:34:23 PM

When I read a comment that Bitcoin will drop under $ 30k at that time I'm not sure, this is what makes me not sell Bitcoin when the price is $ 35k, even I keep buying, after it is proven even the price of dropping below $ 20k makes me realistic that when when when Already profit then immediately sell and divert to stable coins is the best solution.

The solution is indeed like that, which is to sell when you have made a profit because you can still buy back when the price of Bitcoin decreases again in the market, but if the price of Bitcoin continues to increase after you sell it, then there is no need to regret it as long as you can be patient in waiting Bitcoin price is dropping again. So the bottom line is that always taking advantage of any size is a very good solution.

We don't need to be greedy after we sell and get enough profit we know there will be a right moment when buying again and the decline will definitely happen again but we must know when it happens and have analyzed it, and indeed never regret when selling and then suddenly bitcoin continues to rise, if we force to buy when it goes up and we expect it to rise higher then it will be a trap for us so it's better to wait less with the right moment as I said.
Apply solutions that have been used well, never be influenced by uncertain market conditions or other things that make you FOMO.

Davian144

hero member

Activity: 2576

Merit: 579

Quote from: Kadal Ijo on August 01, 2022, 11:34:23 PM

When I read a comment that Bitcoin will drop under $ 30k at that time I'm not sure, this is what makes me not sell Bitcoin when the price is $ 35k, even I keep buying, after it is proven even the price of dropping below $ 20k makes me realistic that when when when Already profit then immediately sell and divert to stable coins is the best solution.

The solution is indeed like that, which is to sell when you have made a profit because you can still buy back when the price of Bitcoin decreases again in the market, but if the price of Bitcoin continues to increase after you sell it, then there is no need to regret it as long as you can be patient in waiting Bitcoin price is dropping again. So the bottom line is that always taking advantage of any size is a very good solution.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: dragonvslinux on August 03, 2022, 02:30:20 PM

Quote from: Jating on July 03, 2022, 06:12:08 PM

Quote from: Nrcewker on June 26, 2022, 11:25:12 AM

Quote from: StreakW on June 26, 2022, 08:54:05 AM

I think the cause of the crypto market crash and the bitcoin price dropping from the $31k to $21k price level was the massive sell-off by investors amid rising inflation concerns. In addition, many investors also continue to stay away from crypto assets so that all crypto assets experience a very severe decline in price.

I don’t think this is the proper reason for which the price has fallen so down.
I mean at first the war impacted a lot in the price, and then the price started falling.
When the price fell down, many of the newbie traders started to panic and sold the coins in such a petty price for which the price again fell very low and hence resulting in a bear market.
I might be wrong with the reason, but that’s what i guess is the primary reason.
Let’s see what other members have opinions on this.

There is no single reason, it could be the combination on things on global level like the war you mentioned. And it's not just bitcoin market, but all financial market as well, they are all down this year.

In fairness, $30K level had been long-term support for around 18 months. So it seemed pretty clear that if this level was lost, price would likely dramatically collapse from there like it did. Not that this level had to break, but that if it did, price wouldn't slowly and gradually decline, but do so more aggressively like it did. It's easy to blame a war that had already started 3 months prior to this, or any other factors that attribute a "cause" to an "effect", but otherwise, $30K was a level required to hold as support and once it failed then we saw the inevitable: a massive sell-off from 18 months worth of buyers that were now all in the red.

I think it's more of a mental support to all of us, and that is around like 50% of the current all time high. So if that support is broken, the price will eventually have to break apart and that's what we have witnessed and factor in the war in February. Sure fire formula for holders to sell, pulling the price to lows of $17,500. And we are still in the cycle that it's going hard to reach that $30k again. There are a lot of barriers that we need to overcome first.

dragonvslinux

legendary

Activity: 1722

Merit: 2213

Quote from: STT on August 03, 2022, 06:59:26 PM

The hidden positive is the 50 day average has flattened and now turned up slightly, if we do drop but meet and find that as 'support' then we have only near term weakness with the medium term momentum favoring higher prices. Till it happens its hard to say, I just see stall for now.

Glad to see someone else paying attention to current price movements. Have you noticed how in 2015 and 2019 the 50 Day MA acted as resistance a few times before price was able to break it, and when it did, then it turned it into support? 2019 is a better example based on the rounding bottom, obviously in 2015 price fell back below this MA and price continued sideways, so there's still this possibility.

But most notably after the current low, price has broken through this MA very quickly and only after a second re-test. Falling back below it and failing to find support from it would be bearish, but so far I see price as stronger than it was at the lows in 2015 and 2019. Again this remains to be proven or seen whether this is the bottom, but resistance at higher price-time levels is much weaker this time around it seems.

STT

legendary

Activity: 4088

Merit: 1452

I think we're going back to 20k before we really attempt higher. Just feels like a stall situation to me and Murphy's law say if we can then we will because fear will is enough to make people sell then we touch support and reset once again, perhaps we come back stronger etc. Standard cycle and test of boundaries to the price.

The hidden positive is the 50 day average has flattened and now turned up slightly, if we do drop but meet and find that as 'support' then we have only near term weakness with the medium term momentum favoring higher prices. Till it happens its hard to say, I just see stall for now.

ShowOff

legendary

Activity: 2618

Merit: 1181

Quote from: StreakW on June 26, 2022, 08:54:05 AM

I think the cause of the crypto market crash and the bitcoin price dropping from the $31k to $21k price level was the massive sell-off by investors amid rising inflation concerns. In addition, many investors also continue to stay away from crypto assets so that all crypto assets experience a very severe decline in price.

Some people believe that this is a normal cycle in the bitcoin price. The price could drop lower just to get a new position before finally hitting ATH again. There is no provision for bitcoin to continue rising without a major correction, and so far there are many reasons why bitcoin fell to as high as $17K recently.

I still think a downturn could still occur before the year closes, so always weigh your risk if you are looking to invest and the best advice in this situation is to invest for an amount you can afford to lose.

dragonvslinux

legendary

Activity: 1722

Merit: 2213

Quote from: Jating on July 03, 2022, 06:12:08 PM

Quote from: Nrcewker on June 26, 2022, 11:25:12 AM

Quote from: StreakW on June 26, 2022, 08:54:05 AM

I think the cause of the crypto market crash and the bitcoin price dropping from the $31k to $21k price level was the massive sell-off by investors amid rising inflation concerns. In addition, many investors also continue to stay away from crypto assets so that all crypto assets experience a very severe decline in price.

I don’t think this is the proper reason for which the price has fallen so down.
I mean at first the war impacted a lot in the price, and then the price started falling.
When the price fell down, many of the newbie traders started to panic and sold the coins in such a petty price for which the price again fell very low and hence resulting in a bear market.
I might be wrong with the reason, but that’s what i guess is the primary reason.
Let’s see what other members have opinions on this.

There is no single reason, it could be the combination on things on global level like the war you mentioned. And it's not just bitcoin market, but all financial market as well, they are all down this year.

In fairness, $30K level had been long-term support for around 18 months. So it seemed pretty clear that if this level was lost, price would likely dramatically collapse from there like it did. Not that this level had to break, but that if it did, price wouldn't slowly and gradually decline, but do so more aggressively like it did. It's easy to blame a war that had already started 3 months prior to this, or any other factors that attribute a "cause" to an "effect", but otherwise, $30K was a level required to hold as support and once it failed then we saw the inevitable: a massive sell-off from 18 months worth of buyers that were now all in the red.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: ?? on ??

Initially I was very sure that Bitcoin would not drop significantly below $ 30k, if it happened under $ 30k, I was sure that it was only temporary as it had happened in 2021, unfortunately the price continued to drop and even had reached $ 18k, and more than 4 months could not yet touch $ 25k. But for me this is an opportunity to buy at a cheap price.

$30k is quite reachable so I will not be surprise if I see this scenario to happen especially there are fuds spreading about SOL which can make people feel to get afraid for possible scenarios to happen, but as other issues came for sure this will not totally affect the market since for sure people will just forget about those negative news used by manipulators and then bitcoin will recover after those small falls.

Kadal Ijo

full member

Activity: 1162

Merit: 106

When I read a comment that Bitcoin will drop under $ 30k at that time I'm not sure, this is what makes me not sell Bitcoin when the price is $ 35k, even I keep buying, after it is proven even the price of dropping below $ 20k makes me realistic that when when when Already profit then immediately sell and divert to stable coins is the best solution.

virasog

legendary

Activity: 3136

Merit: 1172

Leading Crypto Sports Betting & Casino Platform

Quote from: StreakW on June 26, 2022, 08:54:05 AM

I think the cause of the crypto market crash and the bitcoin price dropping from the $31k to $21k price level was the massive sell-off by investors amid rising inflation concerns. In addition, many investors also continue to stay away from crypto assets so that all crypto assets experience a very severe decline in price.

There are different phases when bitcoin prices usually pump and dump. Currently, we are in the bear market phase (this phase has been started since late 2021) and we should not be interested by the small pumps. Eventually, the market will dump. I am still waiting for 10K bitcoin price in this bear market which should be the final bottom for the market.

STT

legendary

Activity: 4088

Merit: 1452

This whole set of prices, the June peak to June low is how I currently consider the 'mountain' BTC must climb. Like the recent highs were 50% of recovering that fast fall we had and I think its fair to consider our general condition by how well we fair vs that area.
Usually a fast fall is not the difficult climb it might appear, if we cannot recover the peaks of June prices then we shouldn't really be kidding ourselves we are positive or doing well. Even while we left 17k behind Im not convinced till its a regular positive, just take the moving averages as guide if need be as it shows inertia.
No clear trend is my conclusion for the moment, not negative exactly but best not to presume positive is what we keep as BTC tends to take profits, sell off in regular cycles also.

Joshapat

sr. member

Activity: 1526

Merit: 255

Yesterday there was another correction until the price of Bitcoin returned to $ 20K but today it rose again to around $ 21K, this proves that Bitcoin has power so that whatever happens I am optimistic that long -term hold is the best option for profit.

Topic: BTC price suddenly dropped from $ 31K (Read 958 times)