Topic: I didn't expect to see it went below 56k - page 9. (Read 1641 times)

The all-time high ($73.7K), down to $56K, is only approximately a 27% drop. And if you take a look at bitcoin's historic drops, let me tell you — 27% is NOTHING lol so there's really nothing to be surprised for here.

Welp, no one knows, but I won't be surprised if we reach that and I won't be surprised either if we don't reach that. BTC is simply just such an unpredictable asset.

There is also a big support on $40k. The bottom could be there, this dump is too hard to ignore, holders are anxious when there is a threat of price dump due to German and US government dumping while MtGox is also about to be distributed.

Sometimes it's reasonable to just sell and wait til the calm of this panic. But most traders already saw it coming when the price peaks. The hope is just its just months after halving.

If you are just that new into this market then its not shocking or surprising but if you have been on this market for a couple of years or something that do able to experience those year cycles
then you would really be telling into yourself that it is really just that a normal phase or movement this market could have. On the moment or time that you do deal up with this space then
you should really be that accepting it on the first place that anything could happen even if it seems that it is really just that already too far off. Expect the unexpected and this is something
that you would really be needing up primarily so that you wont really be ending up on being impulsive.

Get used to these movements and we arent still on a bull run yet. Also, come to think that this market is always that volatile on which there's no way
that we could really be just having that single line of movement. Anytime the price could go down on least expected.

I don't see any reason for anyone to complain about bitcoin price right now, this is a good opportunity to get more bitcoin if you haven't, you've seen the dip then take most advantage of it, I'm not the type to expect bitcoin to fall any more than this, if you are using the DCA method and you have a good reserves I guess this is a good time to put then to use and get more bitcoin for yourself.

I think you haven’t read around the news, there is a massive sell by institutions, US are selling, Germans are selling, miners are also rumored to be selling as there is movement of coins from old abandoned wallets to exchanges this has caused some FUD and possibly increases the supply strength of the bitcoin. Mt.Gotx refund also happening is another caused again. Bitcoin is not a static currency but actually depends on the demand and supply. There is nothing to worry about because just like the ETF approval hype caused the high demand of bitcoin then which resulted in massive price pump so is this institutional sell offs causing the huge price dump too, it’s just a normal correction phase that is happening now.

Yes the bitcoin didn’t directly happen according to past trends because we even had a new ATH right before halving which wasn’t the trend before but still bitcoin isn’t far from the past trends because in previous halving years the bearish trends takes place right when the halving occurs and bulls set in months later.


No prediction is perfect but I don’t see us hitting $38k anytime soon. My secondary support at the moment should that of $56k fails to hold will be at $52k. Anything below this will only be caused by a strong negative news other than this sale offs

I don't think we would see more below 56k it's already touching the dip price or breakout under the symmetrical flag it might be just a retest at that area and I believe after the price touches this area around 57k wait for a massive price pump because that is the cheapest price right now and it is still within the symmetrical flag so there's a pump coming soon this is just my own prediction and we will see the pump maybe after a few hours later or tomorrow if not then it would retest the 56k again then it would pump if no more sellers sold their holdings.

Anything is possible with bitcoin, Mt gox coins, Germany and USA dump I believe is the reason why the price is dropping.

Why buy bitcoin at 70K, when you can buy it much lower when all of these coins hit the market.

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?