What might be the reason for Bitcoin to go below 25k?

pawanjain

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Quote from: teosanru on June 25, 2022, 12:30:26 PM

Quote from: pakhitheboss on June 18, 2022, 12:47:22 AM

Quote from: teosanru on June 16, 2022, 01:32:57 PM

Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

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Some are saying it's because of the Celsius network breaking down while some think it's because of the global depression coming in, but truth is all of this is just a market cycle, you have to have a depression to normalise the market after an uptrend, if you see monthly charts of last year you'll see how bitcoin was trading every month on it's upper Bollinger it obviously has to see some depression days to bring the normalcy back in the market.

Do not know how long this bear market willl continues but you are correct that this is a market cycle. I did expect the market to correct but not so much of correction. Bitcoin still hovering around 20k to 22k. If I remember 20k was once a new high in 2017 and 20k is now the new low in 2022. Overall the market should look good for institutional investors if they are planning to accumulate more Bitcoin.

I think Market will stay around this region for somewhile, it will try to give hints as if we will break the region downwards and this will fool retail players and they will create short positions and ultimately these positions will be liquidated by big bull pump upwards or second scenario could be we might go straight down from here create a sort of long wick hammer and then go back up. I really doubt that bull action will immediately start after this.

Talking about manipulation it can happen the other way around too. For instance there might be a temporary long green candle.
People might think it's time to go bullish hence creating long positions and then the dump will occur liquidating the long positions.
It keeps happening which is why I hate to trade sometimes. I believe swing trading and long term trading is the best thing to do in these cases.

teosanru

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Quote from: pakhitheboss on June 18, 2022, 12:47:22 AM

Quote from: teosanru on June 16, 2022, 01:32:57 PM

Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

HINGLISH REPLY ACCEPTED

Some are saying it's because of the Celsius network breaking down while some think it's because of the global depression coming in, but truth is all of this is just a market cycle, you have to have a depression to normalise the market after an uptrend, if you see monthly charts of last year you'll see how bitcoin was trading every month on it's upper Bollinger it obviously has to see some depression days to bring the normalcy back in the market.

Do not know how long this bear market willl continues but you are correct that this is a market cycle. I did expect the market to correct but not so much of correction. Bitcoin still hovering around 20k to 22k. If I remember 20k was once a new high in 2017 and 20k is now the new low in 2022. Overall the market should look good for institutional investors if they are planning to accumulate more Bitcoin.

I think Market will stay around this region for somewhile, it will try to give hints as if we will break the region downwards and this will fool retail players and they will create short positions and ultimately these positions will be liquidated by big bull pump upwards or second scenario could be we might go straight down from here create a sort of long wick hammer and then go back up. I really doubt that bull action will immediately start after this.

pawanjain

hero member

Activity: 2646

Merit: 713

Nothing lasts forever

Quote from: pakhitheboss on June 18, 2022, 12:47:22 AM

Quote from: teosanru on June 16, 2022, 01:32:57 PM

Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

HINGLISH REPLY ACCEPTED

Some are saying it's because of the Celsius network breaking down while some think it's because of the global depression coming in, but truth is all of this is just a market cycle, you have to have a depression to normalise the market after an uptrend, if you see monthly charts of last year you'll see how bitcoin was trading every month on it's upper Bollinger it obviously has to see some depression days to bring the normalcy back in the market.

Do not know how long this bear market willl continues but you are correct that this is a market cycle. I did expect the market to correct but not so much of correction. Bitcoin still hovering around 20k to 22k. If I remember 20k was once a new high in 2017 and 20k is now the new low in 2022. Overall the market should look good for institutional investors if they are planning to accumulate more Bitcoin.

$20k was once a "too costly to buy a bitcoin" range and now it's "too cheap to buy a bitcoin" range.
I consider the recent dump as a series of negative influence in 2022 because of all the negative things occurred this year.
The Russia-Ukraine war was the starting point triggering the dump and then there were many things contributing to the dump.
The latest dump made bitcoin fall from the $29k price to currently at $21k price which was mainly due to the high inflation the increased interest rates.
But as we know, sooner or later the dust will settle and once positive sentiments hit the market bitcoin will go bullish than ever.

pakhitheboss

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Quote from: teosanru on June 16, 2022, 01:32:57 PM

Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

HINGLISH REPLY ACCEPTED

Some are saying it's because of the Celsius network breaking down while some think it's because of the global depression coming in, but truth is all of this is just a market cycle, you have to have a depression to normalise the market after an uptrend, if you see monthly charts of last year you'll see how bitcoin was trading every month on it's upper Bollinger it obviously has to see some depression days to bring the normalcy back in the market.

Do not know how long this bear market willl continues but you are correct that this is a market cycle. I did expect the market to correct but not so much of correction. Bitcoin still hovering around 20k to 22k. If I remember 20k was once a new high in 2017 and 20k is now the new low in 2022. Overall the market should look good for institutional investors if they are planning to accumulate more Bitcoin.

teosanru

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Activity: 2100

Merit: 618

Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

HINGLISH REPLY ACCEPTED

Some are saying it's because of the Celsius network breaking down while some think it's because of the global depression coming in, but truth is all of this is just a market cycle, you have to have a depression to normalise the market after an uptrend, if you see monthly charts of last year you'll see how bitcoin was trading every month on it's upper Bollinger it obviously has to see some depression days to bring the normalcy back in the market.

pakhitheboss

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Yes, you both are correct but there was another news of celsius network not allowing withdrawal of Bitcoin. That was another reason why the value of Bitcoin fell as small investors panicked and sold most of their Bitcoin held somewhere else.

The problem to date is that none of those who had or have invested after the ATH believe in Bitcoin. If they had then they wouldn't have sold their holdings.

Frengki_cisco

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Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

लूना बिटकॉइन की कीमतों में गिरावट का कारण नहीं है।

From sources that I see there are various factors for the current decline in the price of Bitcoin, as I see it.

https://www.google.com/amp/s/time.com/nextadvisor/investing/cryptocurrency/bitcoin-crash-continues/amp/

https://www.google.com/amp/s/www.cnbc.com/amp/2022/06/13/bitcoin-btc-falls-as-market-focuses-on-celsius-issue-fed-rate-hike.html

Even so, Bitcoin is experiencing a slump, I think this decline will continue until the end of this year or worse into 2023.

elevates

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Quote from: pakhitheboss on June 13, 2022, 07:29:16 AM

I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

HINGLISH REPLY ACCEPTED

One of the biggest reason for this huge dump is LUNA owner Do Kwon and the second might be the global inflation which is forcing non institutional traders to take out their money from the crypto marke and last the war in Europe. I hope the market recovers before this year ends.

pakhitheboss

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I was suprised when I saw Bitcoin falling so fast from yesterday's price point till now. June 12th the price was holding around at 29k, i assumed it will go up or go down a little bit.

Some what similar to June 6th and then May 30th. It has been been hovering around the range of 28k to 30k for quiet some time now. Suddenly it went below 25k on a single day and that becomes a trigger for someone like me who saw Bitcoin usd value at around 3k to 4k between 2018 to 2019 in the month of April. In reality that was the golden time to grab 1 Bitcoin.

This situation isn't alarming for me but, i did some checks within the forum and found out that, this situation might have arised because of the LUNA issue or it might have been because of the global inflation situation.

What do you guys think can be the issue? Let's have a discussion here!

HINGLISH REPLY ACCEPTED

Topic: What might be the reason for Bitcoin to go below 25k? (Read 196 times)