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Topic: Bitcoin failed at $58,000 and dropped by more than $3K in a day. (Read 621 times)

hero member
Activity: 2870
Merit: 594
We also had a 3k increase, from 61k to 63k+ which was around 3k, we reached 66k as well so we could count that. It is obvious that daily changes at 3k range is not something we should be shocked anymore, it is a normal situation in the crypto world.

Obviously there will still be a lot less days, movements that are within one thousand, but right now we reached to a level where 3k per day changes every single day for a while (up and down) would not be really that weird. Like if I see it 60k tomorrow, then 58k a day later, then 62k afterwards with 66k+ trying to break ATH and fail again go down to 60k, all these sound very reasonable and understandable, I do not think it is very shocking.

You have predicted it as we are going down hard from an ATH to $60k right now.

But just like you it's reasonable and understandable, as the market really goes down hard after breaching new ATH. So it's really a good time to buy right now, although I'm expecting the price to maybe decrease still because of the bitcoin future expirations in the next coming days. That has been the trend in the last week of every month, so just don't panic and take it in stride.
legendary
Activity: 2716
Merit: 1383
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
I think Bitcoin's current price drop is normal and only a small correction compared to the big price correction in last September. The current price decline will make Bitcoin take the first step to increase to reach a new ATH considering that Bitcoin has fallen very significantly in the last month. Therefore we don't need to panic with the decrease in the price of bitcoin which is more than $3k in a day.

We see that correction always happening and even if we are in bullish condition we can still see that then maybe we should expect that to happen since there's no always pumping up movements on bitcoin even before. And we really don't need to panic on the corrections since for sure many traders will take that opportunity to buy on another round and either earn or hold it for quite long time again.

The decline in the price of bitcoin from $58k to $55k or called a price correction of $3k in a day cannot be said to be a failure because crypto is often volatile. what about now that bitcoin has broken through $64k is it still a failure? bitcoin is already in the strong spotlight of various media and has been of great interest to new investors.
People like to cherry pick, they want the good volatility when the price of bitcoin is going up, but they do not want the bad volatility when the price of bitcoin is going down, it is simply unrealistic for those people to wish for an asset like that, as it is impossible for anything to always move up in price, and yet that is exactly what some people want and this is one of the main reasons why there are so few people that are successful traders or investors.
hero member
Activity: 2408
Merit: 584
We also had a 3k increase, from 61k to 63k+ which was around 3k, we reached 66k as well so we could count that. It is obvious that daily changes at 3k range is not something we should be shocked anymore, it is a normal situation in the crypto world.

Obviously there will still be a lot less days, movements that are within one thousand, but right now we reached to a level where 3k per day changes every single day for a while (up and down) would not be really that weird. Like if I see it 60k tomorrow, then 58k a day later, then 62k afterwards with 66k+ trying to break ATH and fail again go down to 60k, all these sound very reasonable and understandable, I do not think it is very shocking.
hero member
Activity: 912
Merit: 661
Do due diligence
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

Your thread title looks like shit. Change it.


Title looks worse than ever Grin



It should be kept just like this :-)) as a lesson.

Someone should make a resurrection thread listing one like this from the past.
legendary
Activity: 4326
Merit: 8950
'The right to privacy matters'
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

Your thread title looks like shit. Change it.


Title looks worse than ever Grin
member
Activity: 574
Merit: 25
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
I think Bitcoin's current price drop is normal and only a small correction compared to the big price correction in last September. The current price decline will make Bitcoin take the first step to increase to reach a new ATH considering that Bitcoin has fallen very significantly in the last month. Therefore we don't need to panic with the decrease in the price of bitcoin which is more than $3k in a day.

We see that correction always happening and even if we are in bullish condition we can still see that then maybe we should expect that to happen since there's no always pumping up movements on bitcoin even before. And we really don't need to panic on the corrections since for sure many traders will take that opportunity to buy on another round and either earn or hold it for quite long time again.

The decline in the price of bitcoin from $58k to $55k or called a price correction of $3k in a day cannot be said to be a failure because crypto is often volatile. what about now that bitcoin has broken through $64k is it still a failure? bitcoin is already in the strong spotlight of various media and has been of great interest to new investors.
hero member
Activity: 3220
Merit: 678
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I agree that it's perfectly normal for bitcoin to drop until to $3K, and nothing to worry about. I agree with you that there is no need to panic and worry. because it can change your estimates, it can even reduce the trust that can just disappear.

bitcoin will even be able to do more than that in a day. even on the 16th bitcoin can also increase by the same value. so there is no need for excessive worry because the bitcoin trend will indeed continue to increase.

bitcoin is indeed trying to increase at the moment, at least it is to be able to surpass the last ATH which is at $64,804, because the opportunity to surpass the last ATH makes bitcoin more confident. ATH is always a benchmark to be able to increase even more, just like when it has to pass $50K.

believe that bitcoin will do its best at the time many people have predicted and we just need patience to wait for it.
I am not sure if 3k would be normal in any other case, but it is normal that it happened at these prices. People need to realize that 3k drop when the price is 10k means 30% drop, when we are at 60k and there is a 3k drop that is only 2%, the difference between 30% and 2% is obvious.

So, we should not be really focusing on a price drop at the price level but on % level. That way the percentage would show you what is going on. The price dropping anything under 5% is a normal day, anything that increases under 5% is a normal day as well. The reality is that we should be basically just happy that we are non-volatile with a drop like that. We have seen how the return happened, we are in a situation where the price of bitcoin increased over 61k and nearly breaking the ATH as well. Breaking that ATH will be a very difficult one, but  it could happen for sure.
legendary
Activity: 2716
Merit: 1383
Apart from Binance, there are many other exchanges that have been affected by China's new policy. the policy of course also affected the price of bitcoin and caused a significant price decline, but recently the price of bitcoin was able to recover quickly and currently the price of bitcoin is able to approach ATH. I am quite happy to see the movement of bitcoin this year because there are many moments where the price of bitcoin is able to recover quickly.
This is something that I noticed as well, when the price of bitcoin dropped to the 30k level many people immediately got very negative about the sort term prospects of bitcoin and sold their coins and now just a few months later the price already recovered and there is not a reason to think we are bound to see way higher prices than what we are seeing right now, so with that in mind I do not think we should get scared when there is such a small correction as bitcoin can recover that in days or even hours under the right circumstances.
legendary
Activity: 2758
Merit: 1228
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
I think Bitcoin's current price drop is normal and only a small correction compared to the big price correction in last September. The current price decline will make Bitcoin take the first step to increase to reach a new ATH considering that Bitcoin has fallen very significantly in the last month. Therefore we don't need to panic with the decrease in the price of bitcoin which is more than $3k in a day.

We see that correction always happening and even if we are in bullish condition we can still see that then maybe we should expect that to happen since there's no always pumping up movements on bitcoin even before. And we really don't need to panic on the corrections since for sure many traders will take that opportunity to buy on another round and either earn or hold it for quite long time again.
sr. member
Activity: 1456
Merit: 267
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Apart from Binance, there are many other exchanges that have been affected by China's new policy. the policy of course also affected the price of bitcoin and caused a significant price decline, but recently the price of bitcoin was able to recover quickly and currently the price of bitcoin is able to approach ATH. I am quite happy to see the movement of bitcoin this year because there are many moments where the price of bitcoin is able to recover quickly.

The recovery only takes a month from that September red now we are moving closely breaking and have a new time high, Bitcoin continue managing the upward rise and attract new investors, with the acceptance coming from more end users the momentum might continue to be stronger, we never know how high Bitcoin might reach but the chance is really possible breaking the last time ATH,.
sr. member
Activity: 959
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Vave.com - Crypto Casino
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
I think Bitcoin's current price drop is normal and only a small correction compared to the big price correction in last September. The current price decline will make Bitcoin take the first step to increase to reach a new ATH considering that Bitcoin has fallen very significantly in the last month. Therefore we don't need to panic with the decrease in the price of bitcoin which is more than $3k in a day.
member
Activity: 543
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Apart from Binance, there are many other exchanges that have been affected by China's new policy. the policy of course also affected the price of bitcoin and caused a significant price decline, but recently the price of bitcoin was able to recover quickly and currently the price of bitcoin is able to approach ATH. I am quite happy to see the movement of bitcoin this year because there are many moments where the price of bitcoin is able to recover quickly.
full member
Activity: 2268
Merit: 121
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If I see the price of bitcoin is currently in an uptrend, although there is a slight decline. The occurrence of a decrease in the price of bitcoin, is a normal thing to happen. Therefore you do not need to panic when the price of bitcoin drops. As much as possible you strengthen your psychological condition after being damaged by worries and assumptions, then you will not easily panic and get carried away by emotions.
I agree that it's perfectly normal for bitcoin to drop until to $3K, and nothing to worry about. I agree with you that there is no need to panic and worry. because it can change your estimates, it can even reduce the trust that can just disappear.

bitcoin will even be able to do more than that in a day. even on the 16th bitcoin can also increase by the same value. so there is no need for excessive worry because the bitcoin trend will indeed continue to increase.

bitcoin is indeed trying to increase at the moment, at least it is to be able to surpass the last ATH which is at $64,804, because the opportunity to surpass the last ATH makes bitcoin more confident. ATH is always a benchmark to be able to increase even more, just like when it has to pass $50K.

believe that bitcoin will do its best at the time many people have predicted and we just need patience to wait for it.
hero member
Activity: 2786
Merit: 657
Want top-notch marketing for your project, Hire me
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

The decrease in bitcoin from $58k to $55k is still considered natural and has no effect. The $3k drop is only a few percent and it happens every week. Bitcoin, including a volatile market, often fluctuates in market prices, so this is nothing to worry about.
That's right, a few percent decline in the price of bitcoin often occurs every week and we shouldn't panic or think that this is the end of the trend of rising bitcoin prices. Therefore, I think while the price of Bitcoin is going down, it can actually take advantage of this momentum. After buying, then storing, and selling when the price rises or re-penetrates its highest level as in a few months ago, where Bitcoin had broken through ATH. We can also use the moments of the last few days to improve our portfolio.
I won't feel somehow cause some people to have the thought that the previous decline in the price of the Bitcoin market could be the end of the current bullish market because every Bitcoin halving effect market always ends it bullish when it 12months and if we calculate it, this is month is the 12th months. However, whatever happens in this year's market will determine if Bitcoin will continue to replicate the same momentum when it is in the halving market.
sr. member
Activity: 959
Merit: 278
Vave.com - Crypto Casino
I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

The decrease in bitcoin from $58k to $55k is still considered natural and has no effect. The $3k drop is only a few percent and it happens every week. Bitcoin, including a volatile market, often fluctuates in market prices, so this is nothing to worry about.
That's right, a few percent decline in the price of bitcoin often occurs every week and we shouldn't panic or think that this is the end of the trend of rising bitcoin prices. Therefore, I think while the price of Bitcoin is going down, it can actually take advantage of this momentum. After buying, then storing, and selling when the price rises or re-penetrates its highest level as in a few months ago, where Bitcoin had broken through ATH. We can also use the moments of the last few days to improve our portfolio.
full member
Activity: 671
Merit: 104
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If I see the price of bitcoin is currently in an uptrend, although there is a slight decline. The occurrence of a decrease in the price of bitcoin, is a normal thing to happen. Therefore you do not need to panic when the price of bitcoin drops. As much as possible you strengthen your psychological condition after being damaged by worries and assumptions, then you will not easily panic and get carried away by emotions.
legendary
Activity: 2688
Merit: 1106
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Reaching $63k+ value and reached down. It looks like market need to breakout $61200 to reach the recent uptrend price of $63k. If it happens then there is more possible chances of breaking out the previous ath value. If not while rejection the market will drop down to $58k as said in the above quote. For some time it moves around the value and serves to be the bounce zone for the next big move.
STT
legendary
Activity: 4102
Merit: 1454
Its pulled back from strong pattern of rises, time to observe if it can hold this area as an area of higher support so that it may continue upwards



I think I have 57.5k as important to hold above should we not respect the straight line of support/resistance absolutely, thats roughly the weekly average.    I would not guess it goes down straight away, its possible the news of ETF is an ironic catalyst for selling and profit taking and this helps bring the price lower.
member
Activity: 658
Merit: 11
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I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.
I think it's normal that Bitcoin also has a 3k increase in one day.
today Bitcoin has recovered, and we must not continue to see the decline that occurs. we have to look at the whole of both high and low prices.
with what happened today no one doubts Bitcoin will continue to increase in price.
hero member
Activity: 2842
Merit: 772
These $60k+ prices basically say that we are way too close to ATH and believe me that it will take some time.
I believe that we are just start of the bull run because that ATH breaking is a very hard thing. Did you catch what was the longest time that took for us last time we tried to break ATH?

You mean the $19k++ last all time high in 2017? it took us 3 years to break that and then we continue up to 2021's massive spike to $64k.

I mean from $10k to $64k the place we stopped was basically $20k price and it took us a long time to break that and eventually we managed to break that and from there to $64k it was a lot easier. Which means that whenever you want to break ATH it takes a long time because there are too many people end up worrying what is going to happen and that is the problem, if we are not sure if it will break ATH or not then we are not sure what is going to happen and that is why we are going to wait and see and not buy during the ATH price and it will become very hard to break that.

And yet we are now in the position to break $64k, just like $3k-$4k and we can absolutely breach that next week. So I guess it will be easier that we thought, there are a lot of good news around and no doubt that it will influence many investors, old and new to pour their money again because of the expectations that $100k can be hit in December.
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