The reasons why Bitcoin price drops recently - page 3.

BrewMaster

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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

a lot of random people are making statements about bitcoin. that doesn't mean they should affect bitcoin price at all.

Quote

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

this actually attracts some additional investment into bitcoin since fiat is a failing asset but bitcoin keeps rising (deflation versus inflation).

you are forgetting that there wasn't any major price drops but a small correction which isn't really that surprising and it doesn't need any reasons such as these.

pixie85

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

can the price go down to 40k?

It can, but will it? Probably not since we had a new ATH. A pullback after a new high is a normal thing as long as it doesn't become a 50%.

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.

Argoo

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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 did not even think of the current decline in prices in the cryptocurrency market to be regarded as a fall, which causes alarm for someone. Throughout the day, I even see the price of bitcoin rising by almost a thousand dollars. This is a common correction and will happen over and over again periodically. It would not be very nice to see the price of bitcoin drop to $ 40,000, or even $ 30,000. However, this can still happen and it will also be almost normal for Bitcoin.

Distinctin

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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.

No matter what they do, we can absolutely expect this kind of market behavior forever. If ever this could somewhat give some impact to the price but this not giving a huge effect. All the dumps and pumps that we experience can be happening all the time and even without this so-called price manipulation, we can't simply ignore this possibility.

Maybe it was right that some people get off from crypto and jump to the stock market drives the demand to slow but we find it also that they will come back soon and hype the market again. This gonna be the life cycle of crypto and any form of investment, and there is now way to change it.

oHnK

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Anyone is free to say their views on Bitcoin, but the reason Bitcoin has decreased in recent days is because of the price correction. If the reason is due to Powell's comments or US policy, it may be influential but insignificant even if it is presented maybe only 1%. And assets that are highly volatile, if it goes up and down is a natural thing. It could be that tomorrow the price will be above 60k USD again. Who knows, right?

yazher

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Quote from: Poker Player on March 23, 2021, 06:59:48 AM

I agree with the previous opinions that this is normal. Just a minor setback that was to be expected. For those of us who invest for the long term, all this does is yawn.

This is not some serious matter where everything is ruin in one day like what we have experience in 2018. This is something with no evidence and just some mere speculations. The price will likely go up again after this fallback. I think this is the best time for some people who have to wait for the right time to invest. Just wait for guys, the price will likely recover after this so don't mind trying to invest some funds that you can afford to lose.

rodskee

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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.

Good observation but You did not mentioned about the "Future Expirations" Grin

Speculative asset won't hurt crypto market anymore because Bitcoiners already Knows this sentiment for years now.

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

can the price go down to 40k?

Don't worry you are not the only one who's Praying for this drop , I even called this for Weeks now .

Quote from: Poker Player on March 23, 2021, 06:59:48 AM

I agree with the previous opinions that this is normal. Just a minor setback that was to be expected. For those of us who invest for the long term, all this does is yawn.

Well it already recovered , from 53,000 now Go up to 55k again , i think this is the stable coin for the rest of 1st quarter because changing course next quarter.

jossiel

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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.

1. That doesn't even count as a reason why there's a bit of correction.

2. I don't also think that's enough reason why we've seen a drop.

Usually, the drops are really caused by most of us, the people of the market and don't think of it as something that you have to be disappointed in. They're normal drops and think how much gain we've made just for 3-4 months.

Poker Player

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I agree with the previous opinions that this is normal. Just a minor setback that was to be expected. For those of us who invest for the long term, all this does is yawn.

Lucius

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

can the price go down to 40k?

Of course, nothing is easier than that - you need, say, a few thousand BTC to start a coordinated dump on 3-4 largest crypto exchanges, and an excellent PR manager who will at the same time spread the false story about how Tesla, MicroStrategy and some other companies sell their coins. Of course you can always find magic fairies to do it for you completely free of charge, if they are not busy with some important work Grin

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

For those who don't know who Powel (Fed Chairman) is, it would be good to post a link when you already claim that he is the reason why the price of BTC today is only $55 000, and not $57 000 as was the case yesterday. Is this something new we haven't heard before?

https://www.cnbc.com/2021/03/22/cryptocurrencies-are-not-useful-stores-of-value-says-feds-powell.html

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

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

That is probably good news, another 3 trillion with all those trillions of helicopter money that have already been distributed in the past year. The US dollar should really strengthen after all these interventions Roll Eyes

cryptomaniac_xxx

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It looks like a normal pullback to me, we have been trying to break $60k again, we have seen the price like 3 days ago going as high as $59k. But it rejected $60k, so the price obviously goes down because of the big wall of resistance. As for the comment of Powell, bitcoin has been considered a "speculative asset" already, nothing new to his argument.

bolawin

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buy bitcoin, hodl bitcoin

can the price go down to 40k?

HeRetiK

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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.

Fesatmas

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if so, that means there is a dump with a large amount of bitcoin, for example the American government did not tell the public that their assets were withdrawn in bitcoin. isn't it currently still a polemic about the existence of bitcoin in the country with the largest bitcoin users. maybe you can give me some references for us to read regarding their withdrawal statement from bitcoin.

willywilly

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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.

Topic: The reasons why Bitcoin price drops recently - page 3. (Read 416 times)