Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: MrSpasybo on January 21, 2021, 01:01:26 PM

Title: 1 BTC < $33K. Total cap < $1T. Why?
Post by: MrSpasybo on January 21, 2021, 01:01:26 PM
BTC price falls below $33K. The lower resistance $35K has been broken.
Total crypto market cap falls below $1T.

I am quite surprised and confused for not understanding the reason.

(https://i.imgur.com/fRkPCSo.jpg)

Here are some of the reasons I think about:
+ New president, new policy, the growth of the stock market has attracted interest & capital from the crypto market;
+ Expensive investors take profits earned in the last period;
+ Necessary correction for the market to return to its true value;
+ Asian people sell crypto to buy product for Lunar New Year ^^

In your opinion, what is the reason for having a negative impact on the crypto market and causing the market to evaporate close to $100B?

And: what will happen next?
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: gotbounty on January 21, 2021, 06:14:35 PM
Maybe the is the chance of BTC to be down and the sideway. this is the starting of altcoin season. probably this is one of the conditions where people will now focus on altcoin. And if we are still holding BTC, don't panic because BTC is always very good and promising coin for HODL
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Astra on January 21, 2021, 07:33:54 PM
The reasons can be very different, including those indicated by you. It takes a little time to understand what happened to the price of bitcoin. It is unlikely that the inauguration of the new US President Biden could have such a significant impact on the cryptocurrency. After all, it was a planned event and nothing significant happened at it. Perhaps Bitcoin needs some time to gather its strength. In any case, the cryptocurrency market will not stand still. Everything that is done is done for the best.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: pelana vreo on January 21, 2021, 10:19:48 PM
Another possibility is,
- Investors withdraw part of their funds due to debt
- The decline in the price of real estate and other stocks led investors to divert some of their crypto funds.

From the current price decline, we can see the level of price correction that will be achieved, the decline in market capitalization will always occur because this is a normal situation when the world economy is still unstable.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: sidik7 on January 22, 2021, 12:23:39 AM
the reasons maybe quite diverse ,such as because many investors now are very enthusiastic about the technology implement to bitcoin then the proggress of bitcoin itself continues to increase from year to year , the supply of bitcoin also affects the value.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Hometown on January 22, 2021, 12:28:16 AM
Obviously it's a technical or maintenance problem of coinmarketcap team management. I think they should immediately correction . Bitcoin price dumped more than $10000 but how can total raising volumes be constant!!!
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: tonymillions84 on January 22, 2021, 12:48:22 AM
i think the reason is simple, funds keeps leaving the crypto market. as funds are leaving the total marketcap keeps falling. when funds are back, market cap raises. it is simple mathematics. not too hard to understand. huge amount of money movement determines market cap. increase or decrease. Not just bitcoin price movement but also altcoin too.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: TomPluz on January 22, 2021, 04:39:12 AM
As for me, this is quite expected, but eventually the market will be making a big rebound days after today. Of course, people will always think of the possible reasons for such a big dip and anybody can come up with at least one or two. Now, this is a big sign that seems the cryptocurrency industry is not so confident that the new Biden administration will be friendly enough into it, there can be some new policies that can affect cryptocurrency and reverse some gains we already have in the past. I am emphasizing though that I am hoping to be wrong on this area.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Andruha1993 on January 22, 2021, 07:35:04 AM
This is not surprising, it's just a market correction! There is always a drop in prices after growth. So don't worry, because there will be growth soon and we will see bitcoin at a high price.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Giangphuong8489 on January 22, 2021, 03:35:29 PM
We didn't find any negative information, so I think the reason is:
+ Whales & many investors sell coins to take profit;
+ The market has developed too quickly and has reached a price greater than its real value;
+ This could be a correction between price increases.

I like the idea of Asians selling crypto to buy Lunar New Year stuff :)
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: dragononcrypto on January 23, 2021, 02:46:29 PM
I think the crypto market reaching $1T could have been a reason for the pull-back potentially, that and this lining up with a $40K Bitcoin, which is exactly 2x from previous ATH. It doesn't surprise me that traders, as well as some investors, would take partial profits at this level due to anticipating resistance.

In hindsight, it makes sense we'd see a correction from these levels. Not only because it's natural for Bitcoin to see 25-35% corrections in bull markets, but also because only a few months ago Bitcoin was around $10K and has since gone up by 300% to $40K. There will always be profit taking!
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: whyrqa on January 24, 2021, 04:16:16 PM
Quote from: dragononcrypto on January 23, 2021, 02:46:29 PM
I think the crypto market reaching $1T could have been a reason for the pull-back potentially, that and this lining up with a $40K Bitcoin, which is exactly 2x from previous ATH. It doesn't surprise me that traders, as well as some investors, would take partial profits at this level due to anticipating resistance.

In hindsight, it makes sense we'd see a correction from these levels. Not only because it's natural for Bitcoin to see 25-35% corrections in bull markets, but also because only a few months ago Bitcoin was around $10K and has since gone up by 300% to $40K. There will always be profit taking!
I believe that even today the cryptocurrency market does not show us anything new. When the next historical maximum is reached, in any case, corrections will take place, as it happened in previous years, where the exchange rate has filed more than 30% about 6 times over the entire period. Therefore, today everything is going on as usual and I hope cryptocurrency users will not panic.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: arnold dudicove on January 26, 2021, 09:15:09 AM
You are right. The current price of bitcoin has decreased drastically when compared to the end of last year to early last year. Some of the reasons you put forward are also true, because they can indeed trigger all of this to happen. We hope that in the future prices will strengthen again ...
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Azaleea on January 26, 2021, 10:09:15 AM
In some ways I agree with your statement. The decline has already occurred. Even a little deep. But I am optimistic that it will rise again in the next month
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: jonathancool220 on January 27, 2021, 09:00:57 PM
Check out the Bitcoin chart in 2018.
Where at the time of December 2017 the Bitcoin price was already above the cloud and January 2018 was the peak of all Bitcoin prices.
Now, in December 2020 Bitcoin price is in the cloud and in 2021 January is the peak.

Unfortunately December 2018 is the lowest price for Bitcoin and I think December 2021 will also repeat itself as we talked about earlier.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Mahindra on January 28, 2021, 03:40:56 PM
At present, the price of Bitcoin has gone down a little bit. The price of Bitcoin has come down compared to the past, but it is better for those of us who have invested to be patient and not be disappointed. I think bitcoin is a long-term coin and holding it for a long time will not be a problem. So if we hold bitcoin, we will definitely get better benefits in the future than now.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: UNIVERSE on January 28, 2021, 11:49:55 PM
ANd the resistance may be decreasing again breaking under $30k. But when? It may touch and stagnant in $27k if we are going really to start the altcoin season. Well, this is sure that we likely need t choose of them between Bitcoin or followed by altcoins themselves. However, if the price is sideways, altcoin season really will be there
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Shahinaz on January 29, 2021, 12:58:52 AM
The decline in prices after growth is common. So don't worry, because soon there will be more growth after that and we will see bitcoin at a high price. correction period for bitcoin this january
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: moantana on January 29, 2021, 01:20:36 AM
because maybe it is also the effect of the strengthening of the dollar value since the inauguration of the president of the United States so many sell BTC to find it safe until the inauguration ends
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: yetti on January 29, 2021, 04:21:56 AM
Quote from: moantana on January 29, 2021, 01:20:36 AM
because maybe it is also the effect of the strengthening of the dollar value since the inauguration of the president of the United States so many sell BTC to find it safe until the inauguration ends
well, I totally agree with what you said because the bias is that when the dollar price rises, the bitcoin price will weaken, and when you can see that opportunity you can use it to find as much profit as possible.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: TomPluz on February 03, 2021, 06:01:20 AM
Bitcoin is now back at almost $37K level and there is a big chance it can beyond $40K this time. I am not really sure why this is happening again, but maybe  some factors are helping like the mere mention of Elon Musk in his Twitter account and the saga of the WallStreetBets which I believe can be refocusing their attention to cryptocurrency right now, including Bitcoin. Well, am not complaining let's just see what other things can be taking place helping Bitcoin's push to the moon.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: sugarchrisp on February 03, 2021, 05:12:21 PM
The most obvious thing here is just a correction and overheating of the market, the mood of the crowd is only up, so we will see a lot of interesting things on this crypto market, I am glad that the cryptocurrency has real value in the form of DEFI and the market will not crash like in 2017!
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Monster5 on February 03, 2021, 06:20:56 PM
Currently, the price of Bitcoin has increased the most in the market. Bitcoin prices have risen the most in 2021. Bitcoin price above $37000 dollars today. I think the price of Bitcoin has increased the most in 2021. The price of Bitcoin will rise further in the future and this virtual currency will set a new record.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Bad leyar on February 05, 2021, 04:07:22 PM
Bitcoin has undergone many changes in the cryptocurrency market at present. Now the price of Bitcoin has crossed $38000 dollars. So I think the way the Bitcoin market is changing, it seems that in a few days the price of Bitcoin will exceed $50000 dollars.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Altcoin1998$ on February 16, 2021, 08:17:59 AM
Some exchanges show its the highest price $49998 ($50000) and market cap more than 1.5 trillions dollars. I think bitcoin will cross more than 70k within this running quarter year of 2021.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Muneeb22 on February 16, 2021, 08:21:45 AM
Now the BTC touches the $50k and soon it will touches the $100k becasue now the big bull is start in the crypto market and the BTC go high so much.
Title: Re: 1 BTC < $33K. Total cap < $1T. Why?
Post by: Malam90 on February 17, 2021, 04:58:27 AM
Market scenario is now different. It's now locked to avoid further discussion.