The Bitcoin market is back on track - page 8.

sokani

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Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

2023-04-14 14:00,
Bitcoin touched its all-time high of $31K which is the 2023 market high. When the market reached $31K we had an idea that the Bitcoin market would soon reach $100K.
Thinking like this, suddenly the market was running down gradually. At other times, the market usually goes down very slowly, but during this period, the market started to go down very quickly and gradually, on 23-04-24 at 22:00, the price of Bitcoin reached $26,942.

After reaching $26,942, the Bitcoin market started to turn positive again. And by today very quickly the Bitcoin market reached $30,036.

Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?

Well it's good to see the chart beginning to spike up again and pushing towards $30k price mark after a lot of speculations in regards to the downward movement. But I won't be carry away by this as I believe this to be a bull trap and it might take a deep again. The deep is still a good opportunity for people to get in and grab some bags and hodl for the bull run.

tbct_mt2

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With daily, weekly, monthly or even quarterly candles, you will see lot of volatility and big ups and downs. I am sure many of us will feel panic with the tables
Bitcoin history price in monthly returns and quarterly returns

Checkonchain has two charts for monthly and quarterly retracement.
https://checkonchain.com/btconchain/monthlyreturns_pricing_usd/monthlyreturns_pricing_usd_light.html
https://checkonchain.com/btconchain/quarterlyretrace_pricing_usd/quarterlyretrace_pricing_usd_light.html

If you see it long term, you can see yearly candles and you will see Bitcoin is uptrend very clearly and it is on the right track year by year.

Frankolala

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First Republic Bank shares tumbled 50% on Tuesday after the San Francisco lender revealed a dramatic slump in deposits. ,it is a sign that another US bank is yet to collapse. Investors withdrew $100b from the bank due to the fear that FRB will collapse. US government is planning to inject more money into the economy to cover up this from becoming a problem to the economy. This action of printing more money will only ignite more inflation.

This has made investors to see bitcoin as a digital gold and store of value to invest their funds into bitcoin, since fiat currency is depreciating. This is the reason of the sudden pump in price today. Bitcoin investors are happy for making a wise choice of investing into bitcoin which cannot be influenced by the government of individuals, as it has serve as a store of value and an assets. I believe that the price of bitcoin will keep on pumping since the secrete has been revealed to investors that fiat and the banks are scams,but bitcoin remains the only option. I see bitcoin price hit above $100k between late 2024 to early 2025.

https://www.coindesk.com/markets/2023/04/26/bitcoin-inches-toward-29k-cardano-leads-gains-among-crypto-majors/

boyptc

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This more likely a thread that belongs to Speculation. --> https://bitcointalk.org/index.php?board=57.0

Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

Basically I do not understand the reason for so much volatility in the market.

Honestly, we don't need to understand any reason for bitcoin's volatility. That's just a common feature of what bitcoin has and that's to become volatile at all times.

Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

Is this volatility a good sign of the market or a bad sign of the market?

Concerning someone's worry, actually volatility is a sign of opportunity for those who take risks.

Litzki1990

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Quote from: Rigon on April 26, 2023, 10:29:37 AM

Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

2023-04-14 14:00,
Bitcoin touched its all-time high of $31K which is the 2023 market high. When the market reached $31K we had an idea that the Bitcoin market would soon reach $100K.

Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?

Bitcoin market all-time high is $69,000. But in 2023, $31000 is the maximum. It is not possible for Bitcoin to go from $31k to $100k. Bitcoin won't reach $100k as easily as we think. Here we have to see a lot of volatility in the market for Bitcoin to reach $100k. Maybe by 2023 Bitcoin can take position between $40k to $50k dollars. But such market volatility can be good or bad. But we do not accept that this instability will lead to good. But we have to remember that we have to move forward with this instability of the market.

None of us know in advance how the market can actually go this year. As you guessed that Bitcoin market will reach between $40Kto $50K this year it is all but your imagination. Maybe it's the opposite of what you think. the price of Bitcoin may fall further this year.
The price of Bitcoin is completely dependent on the market. But I think more volatility in the market is not good. I have seen several times with Bitcoin that when the value of a coin increases very quickly, the value of the coin decreases very quickly after a few days. No matter what we say about the market, we have no choice but to wait until the end

Zaguru12

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Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

After reaching $26,942, the Bitcoin market started to turn positive again. And by today very quickly the Bitcoin market reached $30,036.

Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?

Just like what the old bitcoiniers called this period a “bull trap” I think the recent volatility of bitcoin causing it to jump and down in thousand within period of hours is partially due to the much anticipated halving of the new halving coming up. The dump of price actually happens with the crises exchanges are facing recently, the top one is that with the SEC failing to agreement with some of these exchanges. This has somehow created panic in the markets. Also the relaxation of crypto regulations or ban in countries like China also plays its part.

But the major thing causing this excess volatility is the panic around the halving, some people are withdrawing there funds after meeting first year quarter target and others are accumulating fast when a little drop happens for the next halving. This two to me are what drive the market right now. Should this panic reduces after halving we will have moe less a little stable market before the next. So it is a good sign

Solosanz

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Quote from: Rigon on April 26, 2023, 10:29:37 AM

Bitcoin market all-time high is $69,000. But in 2023, $31000 is the maximum. It is not possible for Bitcoin to go from $31k to $100k. Bitcoin won't reach $100k as easily as we think. Here we have to see a lot of volatility in the market for Bitcoin to reach $100k. Maybe by 2023 Bitcoin can take position between $40k to $50k dollars. But such market volatility can be good or bad. But we do not accept that this instability will lead to good. But we have to remember that we have to move forward with this instability of the market.

Now Bitcoin price is almost hit $30K and you have predicted the Bitcoin price in the end of this year will take around $40K to $50K, how you can still say such volatility can be bad? Everyone are accepting instability of Bitcoin price, if someone can't accept it, he shouldn't invest in the first place. This is not only invest in Bitcoin, but the other assets too e.g. precious metal, real estate, stock because those assets price are having their own volatility too.

Rigon

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Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

2023-04-14 14:00,
Bitcoin touched its all-time high of $31K which is the 2023 market high. When the market reached $31K we had an idea that the Bitcoin market would soon reach $100K.

Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?

Bitcoin market all-time high is $69,000. But in 2023, $31000 is the maximum. It is not possible for Bitcoin to go from $31k to $100k. Bitcoin won't reach $100k as easily as we think. Here we have to see a lot of volatility in the market for Bitcoin to reach $100k. Maybe by 2023 Bitcoin can take position between $40k to $50k dollars. But such market volatility can be good or bad. But we do not accept that this instability will lead to good. But we have to remember that we have to move forward with this instability of the market.

Obito

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Quote from: Patrol69 on April 26, 2023, 09:52:14 AM

Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?

Volatility is a bit of both, it's good that the market is volatile because when prices go down suddenly, you can get in at a lower price and because of the volatility, there's a chance it will go up and you making a profit and it's a bad one especially if you're a panic seller because volatility causes unhinged emotions to go off rails and make you decide unreasonable things when you're in the market like panic buying or selling.

Patrol69

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2023-04-14 14:00,
Bitcoin touched its all-time high of $31K which is the 2023 market high. When the market reached $31K we had an idea that the Bitcoin market would soon reach $100K.
Thinking like this, suddenly the market was running down gradually. At other times, the market usually goes down very slowly, but during this period, the market started to go down very quickly and gradually, on 23-04-24 at 22:00, the price of Bitcoin reached $26,942.

After reaching $26,942, the Bitcoin market started to turn positive again. And by today very quickly the Bitcoin market reached $30,036.

Basically I do not understand the reason for so much volatility in the market. Is this volatility a good sign of the market or a bad sign of the market?

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