The reasons why Bitcoin price drops recently - page 2.

Saisher

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Quote from: Kemarit on March 27, 2021, 07:00:05 PM

Same thing will happen next month, we will see a dip not higher than 30% and then eventually a healthy recovery to $70,000.

This only shows why we are still in a bull, the market is stepping one backward only to make two step forward, not really something to worry about, even if there are news about the dip, the market still has that momentum to get back and show better the next time, dip and correction is something we should always get used to.

Kemarit

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Quote from: DoublerHunter on March 27, 2021, 03:17:47 PM

^ This was on the Coindesk article and explained it there about the reason for the recent dump.
https://www.coindesk.com/market-wrap-bitcoin-near-56k-flat-activity
It said that it could be because the U.S. Federal Reserve Chair Jerome Powell said, Cryptocurrency “not really useful stores of value” and that means it is included BTC. I don't know why there are too many influencer people that make the BTC price dump and pump through their words and don't know why people are listening to them, this is the same in Elon Musk's case.

I doubt that it is the main reason though, could be one factor though. But as I have said in the past, the bitcoin futures expiration has more of the effect, and since it is over for this month, just look at the price after it has matured, it bounce back already.

Same thing will happen next month, we will see a dip not higher than 30% and then eventually a healthy recovery to $70,000.

plr

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Quote from: HeRetiK on March 23, 2021, 05:32:20 AM

Does a 10% pullback count as price drop these days? Really? Cheesy

We reached a new ATH not even 2 weeks ago. The price is "dropping" because that's what markets do every now and then, there's not much else to it.

I agree with you unless there is a market drop of over 20% that's a reason to cause panic and to check why the market is dropping, but right now a drop of 5% just like what happened this week has nothing to worry about because this is a normal price movement, it's been this way ever since.

DoublerHunter

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^ This was on the Coindesk article and explained it there about the reason for the recent dump.
https://www.coindesk.com/market-wrap-bitcoin-near-56k-flat-activity
It said that it could be because the U.S. Federal Reserve Chair Jerome Powell said, Cryptocurrency “not really useful stores of value” and that means it is included BTC. I don't know why there are too many influencer people that make the BTC price dump and pump through their words and don't know why people are listening to them, this is the same in Elon Musk's case.

sana54210

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

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.

I think that 70k will come. Back in the day the price was lower and so was the chance to lower it, if you sold 1 billion dollars worth of bitcoin you could have dropped it by half in a single day, all you had to do is put it all on 10 markets that was mostly used and sold it there all at the same time and you crash the market.

These days we have companies buying billions, it is not a big deal anymore. Sure if you sell a billion dollars it would still impact today, but that is not going to be the only thing, that is not going to be the game changer and it will be a correction but it will be covered.

Benefits of being over a trillion dollars market cap means that we could go up and do whatever we want and it is not going to change too much in our life. Of course it is not going to be that simple neither but it is not going to be too high anymore. So I think it is harder to drop it by a whale these days.

Kelvinid

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win lambo...

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.

There is a huge change after 2017 tragic learnings. Some say that what happens 4 years ago, it still the same story to see this time but it was wrong, totally different from what we speculated to happen instead, the demand keeps on high every day and this makes the trend staying high. We have a dump at close to $50k in the past few days but now, we are already at $54k. This implies that people are now motivated to do hold rather than being a panic seller in every time there is price correction.

Wawa2013

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In my opinion, the Bitcoin price is not dropping because it is only 11% lower than the ATH price, the current Bitcoin price is just a correction.
So there is no need to worry, because I believe that in the next few weeks the Bitcoin price will return to a price of $ 60k. Now we just need
to be patient, or being able to buy more Bitcoin at the current price is pretty good too. The cause of the correction is usually a few whales
taking profit, or because Bitcoin is volatile, it is normal for a correction to occur.

virasog

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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.

Yaunfitda

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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.

I think those who dump bitcoin are either know what they are doing, or simply weak hands, that's it. Currently we have recovered some already, $55k is already a strong support, and I think that the dust has settled a bit, hmm, wonder if we are going to hit $60k again.

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

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

Yes, this dip is nothing of extraordinary, that if you are have been in the market for so long, we all know that this time will come and go.

Kelvinid

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win lambo...

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.

Ridwan Fauzi

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Indeed, the biggest exchange in the US coinbase revelead that bitcoin price have dropped arround $8 billion and this is indicate that the instutional investor are trying to sell their bitcoin.

It could be right, the point two can be made a reason why bitcoin trying to decrease. As we all already know that bitcoin is being discussed by most media and can attract a lot of people to invest in it.

Even, we can compare the bull run at this time with 2017 ago, bitcoin price was starting to decrease when 2018 was coming. But now, as you can see since 2021 came we haven't seen any sign that the price will drop like 2018 ago. So, I just predicting that the decrease price right now will just for a while, in the long term the bullish market still strong.

Mahanton

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Quote from: ene1980 on March 26, 2021, 04:44:12 PM

Quote from: LUCKMCFLY on March 26, 2021, 11:25:13 AM

This may also be temporary, in another article they say that the bullish streak of Bitcoin can end with a value of $90k and mention that it can be for the month of April.

It is possible that the price of bitcoin will surge further but April is too earlier for the rally, i am expecting the market to be in the bullish trend for the next few months and even now when there was a minor correction you could see the support filling up with investors readily accepting the coins. The graphs and charts will not provide you anything in situations like these as we are in uncharted territories and i find it hard to understand the direction even though i am in the market for a long time.

Its never been an easy thing no matter how experienced or veteran you are on this market.Predicting price movement isnt something that people could able to get precise words
on where the market would be heading on.On the sudden price correction we do have, is there any viable news or source on why it did happen?I have seen none and the price
had just really move something like this.Some do even thought that we might be heading even way more lower but checking out the current price then its
starts to climb up once again.Why people do worry that much? rather than on panicking then better to see this as a chance to buyback cheaper coin.

ene1980

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Quote from: LUCKMCFLY on March 26, 2021, 11:25:13 AM

This may also be temporary, in another article they say that the bullish streak of Bitcoin can end with a value of $90k and mention that it can be for the month of April.

It is possible that the price of bitcoin will surge further but April is too earlier for the rally, i am expecting the market to be in the bullish trend for the next few months and even now when there was a minor correction you could see the support filling up with investors readily accepting the coins. The graphs and charts will not provide you anything in situations like these as we are in uncharted territories and i find it hard to understand the direction even though i am in the market for a long time.

bitzizzix

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Quote from: LUCKMCFLY on March 26, 2021, 11:25:13 AM

This may also be temporary, in another article they say that the bullish streak of Bitcoin can end with a value of $90k and mention that it can be for the month of April.

Quote

"If you look at the data, trends and patterns of behavior that we saw as the price of bitcoin approached its four previous market cycle peaks, you will see the same things today and at each of those other times.

This history suggests that bitcoin's bull run will end next month at a price of around $90,000. "

Source: https://es.cointelegraph.com/news/bitcoin-bullish-race-will-end-and-analyst-points-out-date-for-bitcoin-to-be-worth-90-000

This article is very interesting, although it is in its original format in Spanish.
For now, Bitcoin is taking a slight recovery, this may all be a slight market correction and a pulback will come.

The current decline in bitcoin price is only temporary or only corrective, and many are predicting that the price of bitcoin has the potential to increase in the next month and I read some news about the current decline and the increase will occur again in early April and gradually.
in my opinion there is no need to worry, for the current situation it is enough to hold or take advantage of the decline in bitcoin by buying it.

LUCKMCFLY

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This may also be temporary, in another article they say that the bullish streak of Bitcoin can end with a value of $90k and mention that it can be for the month of April.

Quote

"If you look at the data, trends and patterns of behavior that we saw as the price of bitcoin approached its four previous market cycle peaks, you will see the same things today and at each of those other times.

This history suggests that bitcoin's bull run will end next month at a price of around $90,000. "

Source: https://es.cointelegraph.com/news/bitcoin-bullish-race-will-end-and-analyst-points-out-date-for-bitcoin-to-be-worth-90-000

This article is very interesting, although it is in its original format in Spanish.
For now, Bitcoin is taking a slight recovery, this may all be a slight market correction and a pulback will come.

aoluain

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Futures trades for March end tomorrow. From the chart below we can see
that about $50 was the target so a lot of traders needed the price to drop
in order for their trades to activate.

Source > https://app.laevitas.ch/dashboard/btc/deribit/options/activity

adaseb

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Yes it seems there is tons of worry about there just because BTC went from $62K to $50K, that is only considered a 20% drop and people are panicking. And this leads me to believe 2 things

Most likely they bought near the top at $60K, I think when they saw $58.4K break, they assumed it would go to at least $65K and are stuck holding a bag. And another reason is that many people here are trading on high leverage using margin and future exchanges.

In the last 24 hours there was $2.4Billion dollars worth of long liqudiations which is a crazy amount since BTC didn't really have that much of a drop. Since we lost this much OI, it means that people were longing the top on high leverage.

Fatunad

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Quote from: LUCKMCFLY on March 25, 2021, 04:15:52 PM

In this article you can see 3 reasons why it could have occurred:

In this article you can see 3 reasons why it could have occurred:

Of course, now when this kind of eventualities occur, there is always a potential news or reason that is identified, but it is a matter of waiting and seeing how it continues to develop at this time, perhaps this is a pull back and the price reaches a few $ 60k, it's all in the possibilities.

These are common scenarios and still surprised that people still having those kind of questions in mind about these price drops.Its neither it is caused by news or events or just basically a selling point
or time which is currently happening at the moment.Come to think that we havent dipped yet on -$1000 which i do see this as a typical price decline not really those kind of severe -30%-40% in a
day where you can really have those questions in mind but arent these situations common? People shouldnt really get used to be surprised like this because its always been part of the market
to have this kind of volatility.

On the recent drop i had accumulated with this current price point which i can say that this is a solid support which would be hardly be break out but still unsure because the next support
would be on $47k.

LUCKMCFLY

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In this article you can see 3 reasons why it could have occurred:

In this article you can see 3 reasons why it could have occurred:

Quote

The three-month futures usually trade with a 10% to 20% versus regular spot exchanges to justify locking the funds instead of immediately cashing out. Whenever this indicator fades or turns negative, known as "backwardation, it indicates that the market is bearish.

Source: https://cointelegraph.com/news/3-reasons-why-btc-will-unlikely-trade-below-50-000-in-the-near-term

Of course, now when this kind of eventualities occur, there is always a potential news or reason that is identified, but it is a matter of waiting and seeing how it continues to develop at this time, perhaps this is a pull back and the price reaches a few $ 60k, it's all in the possibilities.

batang_bitcoin

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Quote from: bolawin on March 23, 2021, 05:42:44 AM

can the price go down to 40k?

Yes. The chances are there and that's what volatility can do to bitcoin. If the price can go down as much as $40k or even lower than that, we have a good news that bitcoin can also go as high as what we can imagine or more than $100k.

Quote from: pixie85 on March 23, 2021, 09:47:25 AM

Will we still be in a bull market if we drop to 40 thousand?
Yes we will because the bull market support is somewhere around 38 thousand. 40 is still a bull market.

I also consider that even if bitcoin drops to $40k, that's still far from the past months prices.

Topic: The reasons why Bitcoin price drops recently - page 2. (Read 416 times)