Why the recent dip in bitcoin price?

Tmoonz

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Quote from: Berry2d on March 06, 2024, 02:30:20 AM

I thank you all for the information I been dey curious about am naim make I say make I bring the matter for here. But apart from investors selling Bitcoin, which oda tin fit cause Bitcoin drop?

I think volatility is a factored functionality of every crypto assets which everyone should know, for Bitcoin there is no point worrying about it if you are a no or low coiner what you should be considering is having Bitcoin in your portfolio or accumulating more to the one you already have instead of getting much worried about the price fluctuations, however with your dca you can buy at different price point to enable you average out your buying price and hodl for as long as 5 to 10 year or more.

Berry2d

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I thank you all for the information I been dey curious about am naim make I say make I bring the matter for here. But apart from investors selling Bitcoin, which oda tin fit cause Bitcoin drop?

Pi-network314159

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[btc] or nothing more 📈💹 up we go

Quote from: Berry2d on March 06, 2024, 12:47:54 AM

I just noticed say bitcoin been don reach $69k all of a sudden bitcoin just drop down to $63k along side with other altcoins like Shiba in doge coin and Pepe. The market just they red na just this morning I come notice say market come dey recover small small I say make I ask our oga them wey dey here weda dem get something to talk about am I wan learn. Abeg make ona give me answer.

Na normal thing for the cryptocurrency market. That's why we get the bear and bull season. some investors go like sell their coin when for bull season like this. Some na people wey don invest before for the last ATH and Bitcoin struggle for how any years to recover, so there plan na just make bitcoin touch the previous ATH make dem sell am comot there money before E go fall back. Maybe when E fall before them go buy back.

Barikui1

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Quote from: Berry2d on March 06, 2024, 12:47:54 AM

I just noticed say bitcoin been don reach $69k all of a sudden bitcoin just drop down to $63k along side with other altcoins like Shiba in doge coin and Pepe. The market just they red na just this morning I come notice say market come dey recover small small I say make I ask our oga them wey dey here weda dem get something to talk about am I wan learn. Abeg make ona give me answer.

Just wetin oga Charles don talk already, if look at the Bitcoin price chart, if you know how to do technical analysis, you go observe say people sell too much of their Bitcoin mostly at the resistance level which is 69k, and that makes the price to collapse back to the nearest support, and for market terms, them dy call correction.

so as more buyers enter the market in that supports level, the price come dy recover back, and by the look of things, the buying momentum dy stronger than the sellers now, so we fit still dy expect the price to retest that resistance level again if e fit break am, but if e break am, na new all time high Bitcoin go set this time around.

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

There is nothing much than people sold after bitcoin got to all-time-high and the price fall at the time to $59080 right from over $69000. It is normal for a market correction to happen. As you said, the price is increasing back and it is now at $66200.

Berry2d

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Activity: 72

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I just noticed say bitcoin been don reach $69k all of a sudden bitcoin just drop down to $63k along side with other altcoins like Shiba in doge coin and Pepe. The market just they red na just this morning I come notice say market come dey recover small small I say make I ask our oga them wey dey here weda dem get something to talk about am I wan learn. Abeg make ona give me answer.

Topic: Why the recent dip in bitcoin price? (Read 65 times)