Bitcoin Dump

[ZAINmalik75]

Today the price of Bitcoin has taken a dramatic dump. It is coming down from 58K to 54K in last 24 hours. Which is really a big dump . Can we get out of this dump very quickly? Or are we going to go further down? I think it will go below 50K first and then rise again. What do you think? And what is your opinion about the current market situation?

I also think it will go below $50k but nothing is guaranteed here. I can say one thing for guaranteed this is not the bottom this is just a trap to remove all those newbies invested in BTC for profit those who are old and know how it works will stick to their holdings and in the end, they will be the ones making a profit. I learned this fact from various telegram channel groups I have joined.

We can't get out of this dump quickly although as of writing this post BTC is recovering and with time it will recover back to $65k and then further up. The dump we are seeing is due to huge selling pressure from MT GOX and GERMANY. I just hope now that the market will have enough buyers to buy all those BTC otherwise demand is decreasing anyway. It feels like things just change in a matter of seconds.

[taufik123]

Falling below $50k or further is a good opportunity to start holding it.
Some people think this is garbage disposal, but there will be more whales that will hold the garbage so whales will have a lot of advantages.

Having money in reserve at this time would be a plus for buying back bitcoins.
The long-term remains at the $100k ATH goal and I have locked in that target.

[koang]

Bitcoin is the best-performing asset in the world, Bitcoin outperforms other investment assets due to its volatility.
Yeah, It's sad to see our portfolio down 25% in just a few days but if we don't like Bitcoin when it's down 25%, we also don't deserve to profit from Bitcoin when it goes up 100%.
And amidst so much noise, it is tough to find a good explanation of the crypto market but whoever finds it will understand it and go in.

[Hamza2424]

I also think it will go below $50k but nothing is guaranteed here. I can say one thing for guaranteed this is not the bottom this is just a trap to remove all those newbies invested in BTC for profit those who are old and know how it works will stick to their holdings and in the end, they will be the ones making a profit. I learned this fact from various telegram channel groups I have joined.

Haha still people are waiting for another phase bottom but market proved that what other thinks market don't care, as for 72k and 74k All time High people were super bullish and making predictions for the 80k to 85k new ATH and than a correction phase but market gave a slap to all those speculators and after a boring range we are close to the 50k and now people are more fearful and according to the rule book i need to be greedy now.

Be fearful when everyone is greedy and be greedy when everyone is fearful.

[MUGNIA]

Falling below $50k or further is a good opportunity to start holding it.
Some people think this is garbage disposal, but there will be more whales that will hold the garbage so whales will have a lot of advantages.

Having money in reserve at this time would be a plus for buying back bitcoins.
The long-term remains at the $100k ATH goal and I have locked in that target.

The target of 100k $ is very high for now and will take quite a long time if you look at the current market conditions,
for the peak of the bull run to reach 80-90k$, that's quite good and interesting
It's true that you have reserve funds to fill your BTC wallet and hold them until the target is locked

[taufik123]

The target of 100k $ is very high for now and will take quite a long time if you look at the current market conditions,
for the peak of the bull run to reach 80-90k$, that's quite good and interesting
It's true that you have reserve funds to fill your BTC wallet and hold them until the target is locked

It's only for the long term and it's quite realistic if I say it's for the long term.
The nearest Bullrun peak target is probably as you said at $80k-$90k and this is not far from my target.

There are more opportunities now to start buying, and that will double the profits you have with the reserve money used to buy back.

[Crwth]

Everything that is happening it’s just making it a full circle I think. The People who are affected with Mt. Gox Are finally getting paid And it’s just to start, and I think there are a lot of funds that are with ETF have bought the dip as well. It will come back for sure

[Wiwo]

Is it really possible for bitcoin price to go below $50k at this moment?

I don't think we are going to dump that far because at the moment the price is already recovering after the long dip in last week, I believe this new week is going going to contains more positive candle for bitcoin an that positive market is going to reflect on other coins in the market.

If bitcoin should go below 50k it will be a moment of more buy back for those who sold at 60k to 65k some week ago since such discount price is never expected.

[nakamura12]

I think it won't dump much more since it is now 57k from 54k a few days ago. I think this won't last very long once all the people who are affected in mt. Gox are paid. Well, if the price decreased again then I think it is an opportunity to buy more at a lower price before it will increase again. Who knows, it could be short time only for the price in that state before it will increase to 60k.

[Agbe]

The current market situation of bitcoin coming down will last for sometimes before it will go up again and for now we should remove our mind from the bitcoin going up and before bitcoin will go up it will be at the time when the year is about to end. And as for me the decreasing of price was not a surprised again because after the halving we thought the price would go up for people to sell well but that didn't happen so the next thing to happen was the price reduction to the bear market and we should still expect more decline from the market.

[bounceback]

I think normally with bitcoin get dump last day after facing bad news with issues Mt.Gox refund and make many people panic for selling their bitcoin get anticipation before more dumping if all Mt.Gox user sell their bitcoin refund assets. But its only classic reason after many time Mt.Gox make bad news just active with their wallet only without make refund and bitcoin holder easily get panic for selling their bitcoin than waiting with bad issues about refund.

Few days later I believe bitcoin will get recovery and sooner raise above $60k or potential break out again to $70k, not difficult after bad news and whales take advantage buy back before releasing with good news again and make bitcoin easy return up to higher price.

[vegasus]

The current market situation of bitcoin coming down will last for sometimes before it will go up again and for now we should remove our mind from the bitcoin going up and before bitcoin will go up it will be at the time when the year is about to end.

Bitcoin dump, altcoins will definitely mostly follow market movements, it will definitely be much dumpier than all of this. In the last 24 hours, BTC prices have dropped more and more, and even now, BTC prices are only around $56k, is this really a pretty drastic drop in just a few hours? At least this has reduced almost -3% of their team.

I think normally with bitcoin get dump last day after facing bad news with issues Mt.Gox refund and make many people panic for selling their bitcoin get anticipation before more dumping if all Mt.Gox user sell their bitcoin refund assets.

Yes, this is one of the quicker motivations for members to change strategies in certain situations. However, I'm sure there's a purpose to all of this. Yes, at least playing in a meaningful way. And they are doing this because to prepare the privilege's ended.

[alltalk]

Today the price of Bitcoin has taken a dramatic dump. It is coming down from 58K to 54K in last 24 hours. Which is really a big dump . Can we get out of this dump very quickly? Or are we going to go further down?

Yep. In the last 2 days, the price of Bitcoin dropped quite significantly. It drops from $60k to $58k, and it drops to $53k. After it drops to $53k, it already increased again to $57k - $58k. Even if it is a big dump but the market could increase again quickly. This is a good sign because the market looks to get temporary impacts in a short time only.

I think it will go below 50K first and then rise again. What do you think? And what is your opinion about the current market situation?

In fact, it didn't need to drop to $50k, Bitcoin could increase again. It already returned to the price before the huge dump ($57k - $58k). But I hope it can cross $60k again in a short time, and the price of Bitcoin can stay above $60k for a long time. If it drops again, surely it may drop below $50k.

[Agbe]

This is the best time to invest in bitcoin and hodle for the next bull run. As it is said the price downturn will last and it will still come down again. So if anyone is afraid should calm and continue hodle. You don't have to panic because I know that many will panic and thick that they would lost their funds invested in bitcoin. And I want to use this opportunity to tell you that nobody lost funds in bitcoin investment if you are for long term but if you invest in short term and the market enter bear market then you would lost because definitely you capital would not complete again. Therefore invest for long term.and not for short term.

[Freemind]

For some, this is the perfect time to buy Bitcoin (and other cryptocurrencies) and wait, while for others, maybe with less experience, they panic and sell even at a loss. The line that defines both points of view is the same, but the results will be very different for those who are less patient. This is not the first dump we see nor will it be the last and it is good for the market although many think otherwise, what they should think is that nothing can grow constantly. The long term has always offered better results and the history of Bitcoin proves it.