Bitcoin touched 69k but drop roughly 12% within half day. What do you think

[antonyyu3]

Like the title. Bitcoin experienced quite a fluctuation yesterday. It looks kind of struggle to exceed  70k. Now it is back to 67k. What do you guys think? Is it hitting the top in this bullish trend?

[bounceback]

Still don't know about bad news behind bitcoin dropping drastically after success raise more than $69k and without few hours price down roughly until 12%. I think correction is normally when bitcoin have been on higher price and usually all altcoin will face the correction moment but not have to be panic with faster potential bitcoin can recovery as soon possible.
You can see current bitcoin price right now almost close with the highest price but little difficult with faster recovery for altcoin, need to be more cool facing correction moment and don't be panic for selling our bitcoin. "If you can't hold, you won't be rich" always remember what said by CZ as Binance CEO former.

[0t3p0t]

Like the title. Bitcoin experienced quite a fluctuation yesterday. It looks kind of struggle to exceed  70k. Now it is back to 67k. What do you guys think? Is it hitting the top in this bullish trend?

I believe it will bounce back and make new ATH this year because $69k something does not have a significant increase to pass the previous ATH. This only means that Bitcoin still has something to prove and whales are getting ready for possible dumps they can fill their bags before the real rally will begin. Though I might be wrong here but who knows right?

[Wiwo]

That is the usual way bitcoin marks it all time high, at least, the growing capital market of bitcoin is something that we should have positive mindset towards since bitcoin is already running into bullish market trends, this significant movement in price of bitcoin have made it absolutely possible for those who want to make use of the DCA approach to take gains a d still but back since the price for now is highly volatile and investors are not willing to let go of their assets.

But all the same, the overall market is looking so positive to the point that it allows for easy speculations of the market, and many will hold a large percentage of the bitcoin holdings, which will result to liquidity building for bitcoin and aim at obtaining an all time high price.

[Jamal Aezaz]

Bitcoin has touched the previous ATH but after that we again see huge Fluctuations which means that it will go more higher than this ATH but it will takes some time as again it is 67k$ which implies that we are nearer to 69k$.

May be some people have sell their bitcoin due to which we are experiencing dip again and may be there are some new behind this drop. This is not the end but bitcoin is again in good market condition so have some more patience if you wants to be profitable during this Bull season.

[legend45]

Bitcoin has touched the previous ATH but after that we again see huge Fluctuations which means that it will go more higher than this ATH but it will takes some time as again it is 67k$ which implies that we are nearer to 69k$.

May be some people have sell their bitcoin due to which we are experiencing dip again and may be there are some new behind this drop. This is not the end but bitcoin is again in good market condition so have some more patience if you wants to be profitable during this Bull season.

just like my analysis, bitcoin will go down and reach a higher number. Some people panicked, thinking this was the end of the bull run even though it was just a correction. And some investors are keeping calm, buying bitcoin and holding it. This depends on each person's analytical skills in seeing market phenomena.

[Cryptsafe]

Like the title. Bitcoin experienced quite a fluctuation yesterday. It looks kind of struggle to exceed  70k. Now it is back to 67k. What do you guys think? Is it hitting the top in this bullish trend?

I think the whales were testing their strength to see how possible that they could still control the market and they succeeded. What happened yesterday was very intriguing as I began to wonder if there are truly strong hands still exists in the industry but paper hands everywhere. I was surprised to what I saw yesterday and it began to give me concern as to when will the paper hands become stronger and be able to withstand the market pressure and manipulation.
It is unfortunate what happened yesterday but the whales already  tested their strength and it worked for them.

[Baofeng]

Bitcoin has touched the previous ATH but after that we again see huge Fluctuations which means that it will go more higher than this ATH but it will takes some time as again it is 67k$ which implies that we are nearer to 69k$.

May be some people have sell their bitcoin due to which we are experiencing dip again and may be there are some new behind this drop. This is not the end but bitcoin is again in good market condition so have some more patience if you wants to be profitable during this Bull season.

just like my analysis, bitcoin will go down and reach a higher number. Some people panicked, thinking this was the end of the bull run even though it was just a correction. And some investors are keeping calm, buying bitcoin and holding it. This depends on each person's analytical skills in seeing market phenomena.

I don't think they panicked though, it reaches new all time high, and it's obvious that it's profit taking more than investors getting nervous because of the quick rise and reaching new all time high. And after it touches $69k it went down hard, but guess what? It's on the range of $67k again. So there is no massive collapse on the price that's why I believed it's just profit taking and nothing else.

And I do believed that it will continue to it's rise and will touch base $70k this month before the halving. If it does then it's going to be a big bull run this year and next year and it could be true that the speculation that it will hit 6 digits as it's new all time high is just about right, in my opinion.

[UNIVERSE]

Like the title. Bitcoin experienced quite a fluctuation yesterday. It looks kind of struggle to exceed  70k. Now it is back to 67k. What do you guys think? Is it hitting the top in this bullish trend?

This is not surprising, in fact, who would have thought that Bitcoin's price plunge would last for quite some time. But it turns out I was wrong. Because, after this significant plunge, in fact, the price of Bitcoin could shoot up quite well. Yes, it is true that currently, the price of Bitcoin has not yet exceeded ATH, but at least, the price development in the market is very significant. Until this post was made. Bitcoin price on CMC is $66,089
https://coinmarketcap.com/currencies/bitcoin/


So, in this month, what rate the price of Bitcoin will go then?
Will it really reach $75k?
Hopefully, we are heading Bitcoin halving, and everything may happen. But, we must also check it regularly because the fluctuation of the BTC price is still very high.

[EthereumDev_]

This is not surprising, in fact, who would have thought that Bitcoin's price plunge would last for quite some time. But it turns out I was wrong. Because, after this significant plunge, in fact, the price of Bitcoin could shoot up quite well. Yes, it is true that currently, the price of Bitcoin has not yet exceeded ATH, but at least, the price development in the market is very significant. Until this post was made. Bitcoin price on CMC is $66,089
https://coinmarketcap.com/currencies/bitcoin/


So, in this month, what rate the price of Bitcoin will go then?
Will it really reach $75k?
Hopefully, we are heading Bitcoin halving, and everything may happen. But, we must also check it regularly because the fluctuation of the BTC price is still very high.

It is normal for Bitcoin when it is approaching the halving that the price will return to normal at an expensive price and there is also good news from the ETF making Bitcoin's price even higher. It can be seen that Bitcoin price movements are always like that, once every 4-5 years it will definitely become expensive again, we as traders just need to find the right position to enter and exit to make a profit.

The price of Bitcoin will very easily go to $75k and it seems that by the end of this year the Bitcoin price increase target is $100k

[Dr.Bitcoin_Strange]

Still don't know about bad news behind bitcoin dropping drastically after success raise more than $69k and without few hours price down roughly until 12%. I think correction is normally when bitcoin have been on higher price and usually all altcoin will face the correction moment but not have to be panic with faster potential bitcoin can recovery as soon possible.
You can see current bitcoin price right now almost close with the highest price but little difficult with faster recovery for altcoin, need to be more cool facing correction moment and don't be panic for selling our bitcoin. "If you can't hold, you won't be rich" always remember what said by CZ as Binance CEO former.

It might be of interest for us to also note that same scenario also occured in November 2021, Bitcoin also experienced a sudden drop after it also reached a high of over 69k, it was also very alarming and unexpected for a lot of investors as there also raised questions to why Bitcoin experienced such a fall after advancing with such a positive trend.
There are a number of possible explanations to justify the declination in price. First, we could consider profit taking as one of the reasons. Bitcoin has reached it's ATH so it's possible that many investors believe that this action could be accompanied by a declination, and seeing they were in profit, decides to take out their profit, if several investors do this, then it's enough to cause a sudden decline in the price of Bitcoin.
Again, we all know that Bitcoin is a very volatile asset and volatility is a normal part of investing and Bitcoin can drop drastically without something bad necessarily happening, but even with a significant drop, Bitcoin has still experienced a net increase in value over the long-term.

[TomPluz]

Like the title. Bitcoin experienced quite a fluctuation yesterday. It looks kind of struggle to exceed  70k. Now it is back to 67k. What do you guys think? Is it hitting the top in this bullish trend?

I believe it will bounce back and make new ATH this year because $69k something does not have a significant increase to pass the previous ATH. This only means that Bitcoin still has something to prove and whales are getting ready for possible dumps they can fill their bags before the real rally will begin. Though I might be wrong here but who knows right?

There is still a lot of fuel left for Bitcoin to burn so soon we can see it already reached beyond the $70K border...formally setting a new ATH and will never look back for the time being while we are waiting for the halving to occur in April. There are still many days left in March so I am expecting many exciting things to occur here...pushing the price of BTC to skyrocket some more. Of course, there can be some small corrections and they can even be healthy for Bitcoin as if getting more energy for more bullish runs ahead. The whole market is now enveloped by that bullish mood and not just Bitcoin actually as soon we can see the strong rise of many popular alts too.

[Aanuoluwatofunmi]

We should expect more bitcoin pumps this month, we are likely going more high and we may as well see the market going dip but this is just to help it prepare for more highs, then after the halving, anything can happen and we continue to see the market bull steadily forming new highs till we attain the highest, as some had already predicted that we may see bitcoin at $80,000 before the end of March and even if this does not come as earlier expected, we are still going to have it anytime sooner and beyond.

[Gurujebs]

Like the title. Bitcoin experienced quite a fluctuation yesterday. It looks kind of struggle to exceed  70k. Now it is back to 67k. What do you guys think? Is it hitting the top in this bullish trend?

It's a norm for Bitcoin to get rejected from the previous all time high but be rest assured, that all time high will be broken very soon. The reason why you see that it crashed badly was a lot people psychological know that it will dump as soon as we reach that level of trade, a lot of people are going to sell their bags and wait for the market to retrace so they can buy again.

Another reason why you see that it dump is because of market shorters, there is a lot of manipulation from market shorters who has open short positions in that range in future trades and then they now dump many Bitcoin on the spot trading, this will make a lot of people to sell and then they gain in the future trades they shorts, this is how market manipulation works.

[0t3p0t]

It's a norm for Bitcoin to get rejected from the previous all time high but be rest assured, that all time high will be broken very soon. The reason why you see that it crashed badly was a lot people psychological know that it will dump as soon as we reach that level of trade, a lot of people are going to sell their bags and wait for the market to retrace so they can buy again.

Yeah that is exactly what makes the price fluctuate and it's pretty normal in this industry and it is repeating itself every now and then. What is important in this cycle is that opportunities and chances is quiet high so either you buy or sell it will surely be an advantage.