The reasons why Bitcoin price drops recently

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Quote from: Theb on March 31, 2021, 12:00:36 PM

Why does a lot of people connect every news they see on the price movement of Bitcoin when it is honestly all about the market cycle for it.

This is same sentiment i wanna ask mate , Why does people here in this market always throw the rocks for Bitcoin whenever there is a situation happens outside the market of crypto.

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Bitcoin obviously has been in a bull run for a long time now and the price corrections we are seeing are mostly about profit taking, but instead of accepting that fact a lot of people will just connect everything just to make sense on a simple thing like this one.

Awesome answer mate. Until now people don't realized that others are taking their profit so correction needed to happen But it doesn't mean that Each presidential proposition will keep the market shaken

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It is possible that there is a shift in market demand but the OP is reaching with his speculations without any proof that their capital is transferred to either gold or the stock market. I guess we have been influenced by the crypto media websites too much that we connect everything we see on the price movement of Bitcoin.

Sad fact mate, That almost majority of us has being Riding in what Media will say and not what market is doing.

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Quote from: arufox on March 31, 2021, 05:17:00 PM

Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

The reason why Bitcoin drop or I think you should change the title "the reason in my opinion" why Bitcoin price drops recently.
For me is simple I don't care, I will keep holding my mine if dumped I will buy more, Simple im an investor, not a trader I have a target for long term, so fluctuations of price is not truly matter

Something I have learned in the Bitcoin market, and it is that many times the news of this style does not affect the price of Bitcoin much, unless it is a fundamental, but in the same way something very peculiar happened that after the statements of Powell the bitcoin began to fall, but I think it was by pure coincidence, currently bitcoin reached $ 59k and is about to go through that enormous resistance, we can also say that there is good news for China, and on the part of Paypal to integrate citizens Americans to spend in Bitcoin causes certain emotions in the market, and this can have a positive influence.

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Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

The reason why Bitcoin drop or I think you should change the title "the reason in my opinion" why Bitcoin price drops recently.
For me is simple I don't care, I will keep holding my mine if dumped I will buy more, Simple im an investor, not a trader I have a target for long term, so fluctuations of price is not truly matter

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Quote from: Theb on March 31, 2021, 12:00:36 PM

Why does a lot of people connect every news they see on the price movement of Bitcoin when it is honestly all about the market cycle for it. Bitcoin obviously has been in a bull run for a long time now and the price corrections we are seeing are mostly about profit taking, but instead of accepting that fact a lot of people will just connect everything just to make sense on a simple thing like this one. It is possible that there is a shift in market demand but the OP is reaching with his speculations without any proof that their capital is transferred to either gold or the stock market. I guess we have been influenced by the crypto media websites too much that we connect everything we see on the price movement of Bitcoin.

Dont be surprised because it had been always the case or such situation where people do really likes to attach outer events that do happen presuming that it did really affect bitcoins price.
They would be seeking out something even if they cant just see something that could really be connected to it without even knowing or realizing that anytime the price could really
move without prior reason or simply its all random so better not to take these things too much or too far off because you cant determine on whats the actual reason.

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Quote from: Theb on March 31, 2021, 12:00:36 PM

Why does a lot of people connect every news they see on the price movement of Bitcoin when it is honestly all about the market cycle for it. Bitcoin obviously has been in a bull run for a long time now and the price corrections we are seeing are mostly about profit taking, but instead of accepting that fact a lot of people will just connect everything just to make sense on a simple thing like this one. It is possible that there is a shift in market demand but the OP is reaching with his speculations without any proof that their capital is transferred to either gold or the stock market. I guess we have been influenced by the crypto media websites too much that we connect everything we see on the price movement of Bitcoin.

Yeah, we are already not doing that bad, we have seen over 59k again today for example, this is just a correction and I do not get people who end up with a fear during even the smallest of corrections. We had this literally just a month ago, literally only two month ago, and we dropped from 40k to 30k and everyone was scared like it was a huge deal, that was about a 25% or so drop, and now we moved from 60k to 45k which was another 25% fall, that is literally a correction, what else are you expecting.

After that first one in January we moved higher, now after this one we are moving higher as well, there is really nothing that shocking here neither, because corrections always happens and there is nothing you can do about it. Obviously we will need to not panic and just focus on the recovery, buy when its low so you can profit, but drops will happen and we can't stop it.

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Quote from: bitterguy28 on March 31, 2021, 06:18:31 AM

Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

So what is the reasons Why bitcoin price increasing now? does these News reverse in happening?

and besides Biden is just Considering and not yet happening ..

When USA president considers something, that gets priced in the markets, there is no way that we could only trade after he confirms it, that would be too late and we would not make any profit, you take the risk and invest accordingly considering he will do it, if he doesn't do it you will lose money but if he does it you will make a great profit, that's how the market works, the early bird gets the worm.

I believe the news from USA government barely changes anything unless it's from someone famous, Powell could be a powerful person but the reality is that we are not going to end up with something that would matter to crypto market, we know who he is and we know is in a powerful position, we just do not care about it at all. This is basically an increase and a decrease all independent from what Powell might say. Biden on the other hand is president and what he says does matter.

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Why does a lot of people connect every news they see on the price movement of Bitcoin when it is honestly all about the market cycle for it. Bitcoin obviously has been in a bull run for a long time now and the price corrections we are seeing are mostly about profit taking, but instead of accepting that fact a lot of people will just connect everything just to make sense on a simple thing like this one. It is possible that there is a shift in market demand but the OP is reaching with his speculations without any proof that their capital is transferred to either gold or the stock market. I guess we have been influenced by the crypto media websites too much that we connect everything we see on the price movement of Bitcoin.

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Quote from: bitterguy28 on March 31, 2021, 06:18:31 AM

Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

So what is the reasons Why bitcoin price increasing now? does these News reverse in happening?

and besides Biden is just Considering and not yet happening ..

The reason for the increase may be the news from PayPal for the adoption of bitcoin and other altcoins in there platform. Market could be reacting on that because you can expect activities on the platform.

Bitcoin adopters and enthusiasts are no longer listening to speech like that of Powell about bitcoin being a speculative asset. That was the past fud and business gurus like Warren Buffet have since let go the fud.

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Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

So what is the reasons Why bitcoin price increasing now? does these News reverse in happening?

and besides Biden is just Considering and not yet happening ..

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Quote from: skarais on March 31, 2021, 04:30:21 AM

Quote from: magneto on March 30, 2021, 09:21:57 PM

Stop trying to attribute every single price movement to some underlying event.

Sometimes corrections simply happen because of chance. A position might be closed by a whale, which triggers some arbitrary TA signal, leading to an adjustment without any external shock.

The market is overwhelmingly bullish still, and these bearish episodes should be short lived so long as institutional investors continue to pile in from all directions.

Bitcoin's price fluctuation is a normal situation as supply and demand are always determining factor. Speculation may not be stopped, but we know that institutional investor are the strongest proponent that price will not fall on a large scale. We can even see it dropping by up to 20% in one period, but the market will recover as soon as the trader panic subside. The FUD will affect people and a wave of panic will inevitably arise when they believe that news can affect the price. But in fact, bitcoin has been trusted and has great support and is getting stronger as a long-term investment asset.

the price fluctuation today though isn't very normal. it looks like they are pulling the price down. it's about to surprise me april fool!
somehow it's giving a chance to small investors who are buying the news. i thought my sell order is going to be filled if it reaches up to $60k and just when it's about to hit, the price dips again.

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Quote from: magneto on March 30, 2021, 09:21:57 PM

Stop trying to attribute every single price movement to some underlying event.

Sometimes corrections simply happen because of chance. A position might be closed by a whale, which triggers some arbitrary TA signal, leading to an adjustment without any external shock.

The market is overwhelmingly bullish still, and these bearish episodes should be short lived so long as institutional investors continue to pile in from all directions.

Bitcoin's price fluctuation is a normal situation as supply and demand are always determining factor. Speculation may not be stopped, but we know that institutional investor are the strongest proponent that price will not fall on a large scale. We can even see it dropping by up to 20% in one period, but the market will recover as soon as the trader panic subside. The FUD will affect people and a wave of panic will inevitably arise when they believe that news can affect the price. But in fact, bitcoin has been trusted and has great support and is getting stronger as a long-term investment asset.

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Quote from: WatchMaker on March 28, 2021, 07:57:54 AM

Agreed, but I think the bitcoin price was recently dropped due to the market correction. the bitcoin price doesn't always go up, somethings it goes down. If you study the bitcoin or cryptocurrency market in general you would notice the market usually goes up and down from time to time. For me, I see nothing wrong with the bitcoin market going up and down all the time because that is how the market should work as it can't up or down all the time.

Right, the only time that we should be worried is when the bitcoin prices plateau which is close to impossible but it is the most catastrophic because there is no trade happening in the market. And looking at the bright side, bitcoin going down is an opportunity for people to buy more bitcoin value out of their money and make a short term profit if the prices have gone up.

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Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

Stop trying to attribute every single price movement to some underlying event.

Sometimes corrections simply happen because of chance. A position might be closed by a whale, which triggers some arbitrary TA signal, leading to an adjustment without any external shock.

The market is overwhelmingly bullish still, and these bearish episodes should be short lived so long as institutional investors continue to pile in from all directions.

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Quote from: blckhawk on March 28, 2021, 08:19:11 AM

Just like others, I see nothing special why the Bitcoin price drop a little but just a correction and there's nothing to worry about it. You should know that the market doesn't forever go up there will be some down as well and I think that is what the markets healthy. Expect that after reaching a new ATH or pump as investors you will take that opportunity to make a profit causing supply to increase. Then buy it again, hold it and the price will surge once again, basically, it's all just a cycle.

Is this really needed for us to make or say up some words anytime that bitcoin would make some price drop? Why we cant just accept that this is a normal movement of this market?
This wont be called a market if we wont be seeing price ups and downs.Its just really too tiring to read up something like these threads anytime theres a dip.Whats the reason?
No one really knows because there are lots of factors or viable reason which can really cause for the price to move neither go up or down.
So as a trader or investor then its understandable to do your best to ride off with these waves for you to make money.

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More importantly the 3tn spent is actually 3tn borrowed, you cannot spend what you dont have so first the president or his administration must move to raise funds in order to spend it. So the details are really relating to a weakening dollar and issuance of new currency once again, I dont see how that makes Bitcoin weaker in contrast even if spending is occuring its only via the good will of lenders. Bitcoin isnt a leveraged or fractional currency and invariably looks better in contrast to weakening currency standards.

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Just like others, I see nothing special why the Bitcoin price drop a little but just a correction and there's nothing to worry about it. You should know that the market doesn't forever go up there will be some down as well and I think that is what the markets healthy. Expect that after reaching a new ATH or pump as investors you will take that opportunity to make a profit causing supply to increase. Then buy it again, hold it and the price will surge once again, basically, it's all just a cycle.

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Agreed, but I think the bitcoin price was recently dropped due to the market correction. the bitcoin price doesn't always go up, somethings it goes down. If you study the bitcoin or cryptocurrency market in general you would notice the market usually goes up and down from time to time. For me, I see nothing wrong with the bitcoin market going up and down all the time because that is how the market should work as it can't up or down all the time.

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You are looking for the reason of why bitcoin price is doing a correction after the bull run. None can expect the price rise everyday and never stop. I would say the reason is just doing some technical price corrections at 50K price level and get ready for higher levels to 70-75K or more. During this time market is giving out some discount to buy bitcoins.

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Quote from: virasog on March 27, 2021, 05:13:35 AM

Quote from: Kelvinid on March 26, 2021, 05:47:25 PM

The current price correction isn't surprising anymore, you will see this all the time as we are in a volatile market.
A lot of reasons that could change the trend and we can't avoid this. Dumpers and weak hands will easily get affected but for those who actually understand the situation, it finds normal and have nothing to worry about.

We have once at the dip for more many times but we also recover just also in time.

If you were in 2017 bull market you knew that bitcoin corrected to 30-40% before moving up. In this bull season we are only getting 20-25% correction which shows that the demand of bitcoin is much high as compare to four years back.
I hope this small term correction is over soon and we may see 70,000$ soon.

In other words, it is a small correction than what happened in the 2017 bull market, and we should not too worry. Eventually, we have more chances to buy more bitcoin before the price starts another rally. The correction will still come on the market, and with the high price now, the correction will happen many times in a month. You need to be careful and watch the market to see if you have a chance to buy or sell or only watch the price moves.

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Quote from: willywilly on March 23, 2021, 04:12:06 AM

1. Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

Just a mere opinion coming from him. Is it really the reason why it dropped?? I don't think so.

Quote from: willywilly on March 23, 2021, 04:12:06 AM

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.

With every rise, there is always a drop. We've seen Bitcoin reached $60,000 weeks ago and its normal for it to consolidate as investors are taking profit at that price. Nothing uncommon with this scenario since we know that in the end, Bitcoin will still recover what ever happens.

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