BTC price suddenly dropped from $ 31K - page 2.

Jating

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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.

Newbies are going to panic sell or panic buy, (doesn't want to missed the FOMO), it's understandable at first. but they should learn their lessons and then become experience traders. And hopefully, their bear market will be a wake up call for them, just continue to accumulate bitcoin and not be bothered by the negativity around.

Nrcewker

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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.

StreakW

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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.

BuNga_cute

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Quote from: wxa7115 on June 24, 2022, 02:26:27 PM

Quote from: dezoel on June 20, 2022, 05:12:45 PM

The crash definitely caused a lot of people fear, and a ton of them left because of this. But, I do not understand what people gain from selling at this low stage, I mean the better version would have been waiting for it to recover a bit more or selling a lot earlier. I would get it if you sell at 50k+ when we started to drop from the peak of 68k. Like we start from 68k and drop to 50k and that would be a time to sell.

Or I would understand everyone who are still holding and hoping to sell when the price goes up, that would be the best thing to do, but that doesn't change the fact that there is nothing wrong with it, and this is why I believe that we should not be doing much more than just these two.

This happens for a single reason which is fear, when people let their emotions take control of their actions they will do things that are not logical at all.

As you state there are only two logical decisions, one is to sell as soon as we think there was a reversal on the trend, the other option is to hold our coins no matter what, however waiting until we are close to the bottom to sell your coins is not a good idea at all, but it is a very common mistake which is taken by those which are not prepared to face the adversity we are going through.

That is why it is very important for us to be able to control our emotions when investing in crypto, so that we do not make wrong decisions.
But the fact is that many people can't control their emotions, so it's not surprising that the Bitcoin price dump is deep enough, many people
are scared and end up selling their Bitcoins at low prices. This not only makes the price of Bitcoin fall even lower, however, it reduces
the interest of new investors to invest in Bitcoin. There are still many people who actually don't understand how the crypto world works,
if investors already understand how the crypto world works, they should not panic when the price of Bitcoin drops drastically. So not only
do we need to control our emotions, but we also have to make sure we have a good knowledge of the crypto world, before deciding to invest
in crypto.

wxa7115

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Quote from: dezoel on June 20, 2022, 05:12:45 PM

The crash definitely caused a lot of people fear, and a ton of them left because of this. But, I do not understand what people gain from selling at this low stage, I mean the better version would have been waiting for it to recover a bit more or selling a lot earlier. I would get it if you sell at 50k+ when we started to drop from the peak of 68k. Like we start from 68k and drop to 50k and that would be a time to sell.

Or I would understand everyone who are still holding and hoping to sell when the price goes up, that would be the best thing to do, but that doesn't change the fact that there is nothing wrong with it, and this is why I believe that we should not be doing much more than just these two.

This happens for a single reason which is fear, when people let their emotions take control of their actions they will do things that are not logical at all.

As you state there are only two logical decisions, one is to sell as soon as we think there was a reversal on the trend, the other option is to hold our coins no matter what, however waiting until we are close to the bottom to sell your coins is not a good idea at all, but it is a very common mistake which is taken by those which are not prepared to face the adversity we are going through.

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Quote from: Sang Prabu on June 22, 2022, 11:21:31 PM

If we follow the advice from the posts here then we can avoid large losses, the price of bitcoin drops from $ 32k to $ 17k or around 45% in a short time, this makes us have to always be vigilant and see prices so that we can make decisions for sell or hold.

I think that no one here can accurately predict the price of bitcoin, so far there are many factors that influence the price decline that occurred and you cannot use the predictions in this thread as a reference in investing or trading, it is not wrong to use or consider people predictions others, but you should be able to have more confidence in the analysis you make yourself in every investment or trade you make.

Sang Prabu

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If we follow the advice from the posts here then we can avoid large losses, the price of bitcoin drops from $ 32k to $ 17k or around 45% in a short time, this makes us have to always be vigilant and see prices so that we can make decisions for sell or hold.

Natalim

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Quote from: Botnake on June 22, 2022, 06:17:42 AM

Quote from: Sang Prabu on June 22, 2022, 05:04:12 AM

A few days ago there was a storm that made the price of Bitcoin Dip and once touched $ 17K, although we could return to $ 21K, but today we deserve to be vigilant because the storm waves are not over, if the price of dropping below $ 20k then I will switch to stable coins to avoid greater losses.

Exactly, it's not over yet, looks like bitcoin is going down $20k below again. It's not surprising though because we are still in the bear market, so the bear dominance is quite very obvious now, we have to make the right decision now and trust its success in the future.

If you are a day trader, well, be careful because we might lose more if we think it will bounce back anytime soon, I think we have not seen the lowest this year yet.

You do the right TA when you are a day trader, if you want long term investment, not much effort needed, unless you panic on the current market situation, so if you are not, just relax and HODL.

Quote from: Botnake on June 22, 2022, 06:17:42 AM

Will bitcoin hit $10k this year?

Unlikely bro but not impossible.

Botnake

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Quote from: Sang Prabu on June 22, 2022, 05:04:12 AM

A few days ago there was a storm that made the price of Bitcoin Dip and once touched $ 17K, although we could return to $ 21K, but today we deserve to be vigilant because the storm waves are not over, if the price of dropping below $ 20k then I will switch to stable coins to avoid greater losses.

Exactly, it's not over yet, looks like bitcoin is going down $20k below again. It's not surprising though because we are still in the bear market, so the bear dominance is quite very obvious now, we have to make the right decision now and trust its success in the future.

If you are a day trader, well, be careful because we might lose more if we think it will bounce back anytime soon, I think we have not seen the lowest this year yet.

Will bitcoin hit $10k this year?

Sang Prabu

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A few days ago there was a storm that made the price of Bitcoin Dip and once touched $ 17K, although we could return to $ 21K, but today we deserve to be vigilant because the storm waves are not over, if the price of dropping below $ 20k then I will switch to stable coins to avoid greater losses.

yohananaomi

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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.

maybe one of the reasons is, like what you said from the many predictions that occurred so that bitcoin corrected for quite a long time. but it could also be that this is a game from whales or big institutions that really hope prices go down and they will buy.
The selling action comes from those who are worried, and only have small capital and hope from the investments that are currently held, but for those who have large funds they wait patiently and hold on for a long time.

dezoel

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The crash definitely caused a lot of people fear, and a ton of them left because of this. But, I do not understand what people gain from selling at this low stage, I mean the better version would have been waiting for it to recover a bit more or selling a lot earlier. I would get it if you sell at 50k+ when we started to drop from the peak of 68k. Like we start from 68k and drop to 50k and that would be a time to sell.

Or I would understand everyone who are still holding and hoping to sell when the price goes up, that would be the best thing to do, but that doesn't change the fact that there is nothing wrong with it, and this is why I believe that we should not be doing much more than just these two.

wxa7115

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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.

Without a doubt this is one of the most important reasons for the current drop, people are nervous about what it is to come and they are trying to avoid assets they think are too volatile, and if to this we add that people were already nervous due to how low the price was compared to the all time high then this explains what we are seeing.

However I am not worried, even if at the start of the covid pandemic bitcoin crashed we also saw the beginning of the next bull run, so even if the economic conditions are not optimal bitcoin will still survive and even thrive under these difficult circumstances.

aylabadia05

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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?

Epaper

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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.

CaVO32

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Quote from: btc_angela on June 14, 2022, 05:17:42 PM

Quote from: GeorgeJohn on June 14, 2022, 04:04:16 PM

Do you think the speculation of cryptocurrency in Twitter and reddit is cogent, Yes their is atoms of Truth coming from their speculation but i don't duely concur in such speculation, i still making the same emphasis on bitcoin continuation dropping in values, i will say that the one major factors that is contributing immensely for Bitcoin decrement is because of the war between this two existing countries we do know officially, so with such war it's quite understood that bitcoin they bring down the level of investor's into bitcoin market. And the originator of it's falling is determine by the demand and supply of the marke. I think it's obvious.

Everything in crypto is based on speculation, and as much as we see a lot of social media that devote their time on crypto like Reddit and Twitter, still it's not going to be 100% truth.

And the OP should change the title of the thread, we have dropped massively, not to $31k to to $21k in the last 48 hours. It shake the market again and we might be seen going back as low as <$20k which is going to be very scary to think.

Yes, that's very right! I didn't expect that we will go down to this level. But hey, this is a very unpredictable market. In no time, we may be seeing it rising again. If you want to take advantage of what's happening right now, make smart choices, weigh your options and assess possible repercussions. It is on your own hands how you will get good profits from this situation.

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Quote from: rodskee on June 14, 2022, 12:05:39 AM

Quote from: Wilhelm on June 12, 2022, 05:16:19 AM

Quote from: rodskee on June 12, 2022, 03:37:41 AM

And what we have now is another lowering mate , and there are some speculations that price of bitcoin will drop even to 20k , so if this is real then your post here is more higher than what is coming .
and suddenly if this happens , I am a total failure lol because i am planning to take out at least 1/3 of my funds when the price is still 38k lol.

If you are going to sell when it hits 38k you can consider yourself a failure because where we're going is at least 100k Cool

Hahaha, Actually failure just for this season Grin

because what made me fail in thought? is the Idea that if I sold at 38k then I can buy a double now that the price is near falling half of 38k .

but its Ok since My wife has Her Business profit for the whole year and willing to lend me for a chance to by again now instead of selling .

First, no matter the downtrend we see in the market you're not a failure if you sell your BTC because of an important situation because at some point something is more important than what you wanted and you have taken the better option by asking your wife for help instead of selling now because this is the season of accumulation.
Having said that, you guys shouldn't be blind by the $100K price predicted by some naive enthusiast which some article writer claimed to be an expert when they are not because the $100K price will only happen in the next Bitcoin halving.

btc_angela

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Quote from: GeorgeJohn on June 14, 2022, 04:04:16 PM

Do you think the speculation of cryptocurrency in Twitter and reddit is cogent, Yes their is atoms of Truth coming from their speculation but i don't duely concur in such speculation, i still making the same emphasis on bitcoin continuation dropping in values, i will say that the one major factors that is contributing immensely for Bitcoin decrement is because of the war between this two existing countries we do know officially, so with such war it's quite understood that bitcoin they bring down the level of investor's into bitcoin market. And the originator of it's falling is determine by the demand and supply of the marke. I think it's obvious.

Everything in crypto is based on speculation, and as much as we see a lot of social media that devote their time on crypto like Reddit and Twitter, still it's not going to be 100% truth.

And the OP should change the title of the thread, we have dropped massively, not to $31k to to $21k in the last 48 hours. It shake the market again and we might be seen going back as low as <$20k which is going to be very scary to think.

Rufsilf

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Quote from: GeorgeJohn on June 14, 2022, 04:04:16 PM

Do you think the speculation of cryptocurrency in Twitter and reddit is cogent, Yes their is atoms of Truth coming from their speculation but i don't duely concur in such speculation, i still making the same emphasis on bitcoin continuation dropping in values, i will say that the one major factors that is contributing immensely for Bitcoin decrement is because of the war between this two existing countries we do know officially, so with such war it's quite understood that bitcoin they bring down the level of investor's into bitcoin market. And the originator of it's falling is determine by the demand and supply of the marke. I think it's obvious.

Speculations are not reliable, IMO. Many people do but they all went wrong, that was the reality. This will tell us no matter what we do, we have the chart and price history, and even having all the basis for such prediction, we are still wrong. Things can't be changed and Bitcoin remains unpredictable base on its feature.

Speculations have been made to gain interest and manage to attract investors, and these social media platforms have been doing, can't hide the fact that some of them are being paid.

GeorgeJohn

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Do you think the speculation of cryptocurrency in Twitter and reddit is cogent, Yes their is atoms of Truth coming from their speculation but i don't duely concur in such speculation, i still making the same emphasis on bitcoin continuation dropping in values, i will say that the one major factors that is contributing immensely for Bitcoin decrement is because of the war between this two existing countries we do know officially, so with such war it's quite understood that bitcoin they bring down the level of investor's into bitcoin market. And the originator of it's falling is determine by the demand and supply of the marke. I think it's obvious.

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