Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: Shahinaz on February 23, 2021, 02:49:41 PM
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Bitcoin price declined over 15% and it tested the USD 45,000 support zone.
Ethereum dropped 20% and tested USD 1,400, XRP nosedived below the USD 0.500 support.
news sources:https://cryptonews.com/news/bitcoin-rebounds-from-usd-45k-ethereum-and-altcoins-pair-los-9318.htm
Many altcoins have fallen by more than 20%, including CRO, DODO, IOST, GRT, XVS, DGB, 1INCH, BTT, ZEN, QTUM, OKB, ONT, ETC, OMG, CAKE, LRC, and EOS. In contrast, CEL and LEO gained more than 25%.
In short, bitcoin price started to experience a significant correction below USD 50,000. If the ongoing rebound is unsustainable, BTC may even fall below USD 45,000, but losses can be capped below USD 42,000.
is it possible that bitcoin and others stop here or will return to reach a new ATH?
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I think this is normal. This correction should have come long ago, and it has come now. So don't worry, I think bitcoin won't go below 40k$. But then it will be green again.
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+1 good question
First, talking about Bitcoin: I think this correction is necessary in order for the forecasting indicators to return to safe levels. We have seen the rise in BTC price over the past few days to be too fast and too dangerous for this bullrun of the entire crypto market.
Second, in terms of altcoins: the depreciation of Altcoins relative to USD comes from Bitcoin's decline. Meanwhile the altcoins/bitcoin rate is still quite stable and tends to increase, if the price of BTC recovers to $55K, the price of Altcoins will be x10 or x20.
Bullrun correction is inevitable, we should not be too wild at this time. MicroStrategy is continuing to buy Bitcoin at a rate of $2K per second until $1B is used up.
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I am most interested in the project https://coinmarketcap.com/currencies/nem/ why, against the background of other cryptocurrencies, it is still in the green zone.
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is it possible that bitcoin and others stop here or will return to reach a new ATH?
It'll depend on the support level and daily candle opening of Bitcoin. Basically, it might be rebounded to it's previous ATH if bitcoin create new daily candle above $44k price zone. If bitcoin recovers from this, alts might pump more than what we're expecting right now. It's just about time and don't need to be panic as correction is needed before making bullish rally.
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Correction is normal for a healthier market, you can't expect the market to keep pumping high without making any small Correction at some point, slowly the market will rise again and btc will prepare for the next level ath.
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So far, of course, it is still difficult to say what will happen next with the cryptocurrency market, but most likely correction will begin, so it is best to prepare for a big and long correction, but at best there will be a small correction and after it there will be again pump, but somehow I don’t believe in this, I think there will be a long and big correction.
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Such a deep correction was already necessary. Over the past few months, there have been several minor price corrections, but there have been no major corrections. The rise in the price of bitcoin and the market as a whole was too long and rapid, so the current fall is logical and there is no need to fear it.
The general situation in the world and in the cryptocurrency market still contributes to further growth, therefore, after some time, growth should continue.
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Judging by what is written in the world publications about the investments of large corporations in bitcoin, the current drop looks like a normal correction that needs to be waited out. The difficulty lies in the fact that no one knows how long it will last.
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Judging by what is written in the world publications about the investments of large corporations in bitcoin, the current drop looks like a normal correction that needs to be waited out. The difficulty lies in the fact that no one knows how long it will last.
As we now see the market again in the green zone, this was probably a test. Many newcomers have sold their bitcoins, but bitcoin is trying to return to 58 again, well, let's see if he succeeds in doing it.
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Judging by what is written in the world publications about the investments of large corporations in bitcoin, the current drop looks like a normal correction that needs to be waited out. The difficulty lies in the fact that no one knows how long it will last.
As we now see the market again in the green zone, this was probably a test. Many newcomers have sold their bitcoins, but bitcoin is trying to return to 58 again, well, let's see if he succeeds in doing it.
It seems to me that this is a temporary phenomenon. The task is to pour as many cue ball as possible from hamsters to whales. And then it is already possible to rally even up to 100k, but this is not certain.
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This shook the market so much yesterday. The Truth is market won't always go up so correction is always important to check the market. B
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Price correction will always occur all the time, when the Bitcoin price rises to the highest level then the Bitcoin price will definitely reach a low point and will bounce off the support point to maintain the current price, Altcoins generally always follow Bitcoin price movements, but we don't need to worry because Several other coins reached new ATH while the BTC price was down
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I am most interested in the project https://coinmarketcap.com/currencies/nem/ why, against the background of other cryptocurrencies, it is still in the green zone.
I'm also monitoring this project, I have a little XEM on my wallet, seeing the volume for today is very disappointing - 70% from yesterday, but it doesn't change the green price even though it is thin
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I really expect that the price of Bitcoin can reach $55K in the near future. It already passed $45K, today the price of Bitcoin around $50K and dropped again to $48K. I think it is not a really safe rate for Bitcoin if it still has a chance to increase again in the near future. The price should be more than $55K to ensure the next pump.
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This is not true bitcoin rebounds from USD and ethereum ,altcoins pair losses because in the market the value of prices both coins are too small different prices in exchanges and all of these are so popular in the cryptocurrency,the investors are using regulary this kind of coins.
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Although this time the price correction was deeper than before, however, it looks like it will be short now. Bitcoin and ethereum have already passed their minimum price values and are already confidently beginning to grow again. Now the price of bitcoin is over $ 50,000 and ethereum is over $ 1,600. It is unlikely that their price values will drop significantly in the near future. Most likely, we will be able to observe another wave of price growth in the cryptocurrency market.
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After Elon Musk bought bitcoins, at the price level of 30-35 thousand dollars, the market is now unlikely to miss the price below this mark! Institutional will create support so as not to fall. ;)
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After Elon Musk bought bitcoins, at the price level of 30-35 thousand dollars, the market is now unlikely to miss the price below this mark! Institutional will create support so as not to fall. ;)
I don't think that 1.5 billion will be enough for Elon Musk to keep the market, because the daily turnover is 56 billion. Therefore, one should not hope that it will not fall below 30k.
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Currently, the market is in correction phase mode as we have seen a continuous huge rally for several months. Even I think Btc can go to 41K USD level but not sure-shot about this So now we have to keep patience until the market starts consolidating then only we can predict the next move.