At what point should we worry about Bitcoin's dip?

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ninja_ledgerFull Member
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#1Dec 11, 2020, 06:03 PM
Just woke up to see that crypto is dropping again, and Bitcoin is sitting at $78,935 right now. Its all-time high was just 5 weeks ago at $109,000, so we’ve seen almost a 28% drop already. I've heard people say that 30% corrections are pretty common for Bitcoin during a bull run, so I'm not panicking just yet, but I didn’t see these drops coming. One lesson learned for me: next time we hit an all-time high, I’m cashing out more profits. How low do we think it could go before we start climbing back up towards new highs? How's everyone feeling about this?
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alex.shardLegendary
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#2Dec 13, 2020, 05:13 AM
Bitcoin is making it back to $80000 but also falling back below $80000. If this continues, the price may decrease more. But what I know is that bitcoin is not falling below $70000 this time. I may be wrong but it is just what I think. When it will happen is what I do not know but bitcoin may not get to such low price possibly.
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just_satFull Member
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#3Dec 13, 2020, 11:30 AM
I did expect bitcoin to dip. If it dips again to $70k that is when I would be surprised. For now, it is still normal to me and nothing too worrying. I am feeling quite excited because this can give me the opportunity to buy more bitcoins and then wait for the next ath be that in the next few months or in a few years I would be happy to just hold some bitcoins. Preferably more than I do now. I am hoping to take advantage of this chance and I think everyone else should as well.
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lynx_degenFull Member
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#4Dec 13, 2020, 05:15 PM
We can start worrying if Bitcoin price went below $50K because if we look at the previous super cycle, the first peak was $60K and then it went to $30K which is drop around 50%. Since the new ATH was $109K, to be more accurate it's $54.5K. But if you ask me how much would be the bottom, I have no way to know it. If you have a plan to buy the dip, start to buy from now, then buy again when the price drop.
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seed2017Full Member
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#5Dec 15, 2020, 10:51 PM
70-ish thousand may be fine to reach, in my opinion. After that, we need to see the picture ourselves to try and speculate what comes next.
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hodler_gweiFull Member
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#6Dec 16, 2020, 12:29 AM
If this decline continues, there is a possibility that $75,000 could be the next drop because Bitcoin price has crossed $80,000 to $78,000. And although there are ups and downs, the declines are lower where I think $75,000 could be the next drop. But honestly I don't want Bitcoin price to drop 50% around $50,000+ from its highest price because there will definitely be more panic sellers worsening the market, although the decline that occurs is the best opportunity for those who have soft hands, which will be used by them including me to buy and collect more Bitcoin and become a strong right hand to hold in the long term, but it will make many new investors who are not friendly with high volatility towards Bitcoin who will doubt Bitcoin. So I hope Bitcoin price will stay above $70,000 and will reverse direction to go up, and it's just a matter of time because I am still very optimistic that this year Bitcoin will create a new ATH.
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dave.falconFull Member
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#7Dec 16, 2020, 02:23 AM
Basically no one knows for sure whether Bitcoin will continue to fall or not, if anyone predicts then it is just speculation based on market habits, so that it can determine a certain support point that indicates whether it will survive or will rise. There are analysts who say that it could fall to $ 70,000, but I'm not so sure because I believe that Bitcoin still has full power to survive and will continue to make new aths, although I don't know when exactly. It's just that if Bitcoin continues to fall and reaches $ 70k, then I think this is good news to immediately add more load or even all-in. Sources :  Tradingview - News                 Crypto - News
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ledger_protoFull Member
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#8Dec 16, 2020, 03:11 AM
Bitcoin is increasingly affected by geopolitical and macroeconomic news, and Bitcoin's recent correction was largely due to Trump's tax war. So it is difficult to predict when this correction will end and what the final bottom will be when there is no sign that Trump's tariff war with the world will end anytime soon. Many people still believe in the 4 year market cycle but with what happened last year and what is happening now. I don't believe in market cycles (4 years) anymore and I think the best thing we can do is always have a backup plan and a holding plan longer than 4 years. Invest long term and sell when you reach your goals, don't be subjective thinking that the 4 year cycle will always repeat itself, and making profits will always be as easy as previous cycles.
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tom.cobraFull Member
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#9Dec 18, 2020, 10:32 AM
Answers may vary. For those investors who have bought bitcoin when the price was still $85-$90k, surely the current price has already made them worried. But for those who have been here in the market for long and have seen the highs and lows of bitcoin, I think even if it drops into $30k, we won’t worry too much since we all know when the price starts to bounce back, that would bound already reaching its new all time high. Bitcoin is highly volatile, so expect that bitcoin price could drop even more, even far from our expectations.
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sam.bullSenior Member
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#10Dec 20, 2020, 10:22 AM
Our strongest support Now is around $70K and if we breach that Well it could take sometime to go above $100K. I'm optimistic of March and believe we can hold this range. It's more of selling the rumour and should expect a buying the news. The upcoming tariff war and investors failing expectations Caused this overdue dip. As I usually say, I'm happier we did this correction before targeting another ATH.
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nonce_sigmaFull Member
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#11Dec 21, 2020, 07:53 PM
I don’t know how much lower it goes but I am beginning to get a little uncomfortable now. I believe this is Trump’s doing, his tariff threats are causing everything to crash. He needs to STFU before everything craters even more. I think we must be near a bottom but I have thought that for a few days & it just keeps going lower.
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0xTokenMember
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#12Dec 21, 2020, 09:12 PM
Just as Bitcoin rose, Bitcoin is now dumping downwards. Bitcoin's highest ATH was $109k, but it has dropped from $109k to $78k today. However, many are currently worried that Bitcoin will likely hit $60,000 this week. Many Bitcoin investors will fall into deep tension and worry if Bitcoin hits $50,000.
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dave_byteFull Member
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#13Dec 21, 2020, 09:24 PM
Previously we think it dropped from the price range of $90k to %80k. At that time the trading volume increased quite high. Maybe some of it was also associated with the panic of some holders. Now we see the decline happening again, after previously we tried to see Bitcoin's ability to survive at $85k. That didn't happen and we see it currently falling below $80k. We will never know the lowest point of the current decline. Maybe it could go to $70k. But I hope that won't happen.
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whale365Senior Member
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#14Dec 22, 2020, 01:07 AM
Probably 50%-60% of our last all time high, so you do that math, last ATH is $109k. So we can call that a bear market already if we had that kind of dump. But so far it's not, but this month along as compare to last month, we could be like -15% or higher down already. For now the big support of $80k is still holding so nothing to worry, we still have a lot of leg room in front of us. This is just February and still 10 months to go to overcome this fear of seeing the price going below what we have expected. So chill for now, on the other hand, it could be better if you will still accumulate as this price point.
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max51Full Member
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#15Dec 22, 2020, 03:03 AM
70k would be okay-ish. Investors would be ready to fill the gap
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#16Dec 22, 2020, 05:16 AM
After Bitcoin touched an all-time high (ATH), we may have seen the price of Bitcoin reach its lowest point today, meaning that the price of Bitcoin in today's market was $78,000. In fact this situation is making every Bitcoin holders the most worried. We may not have accurate information as to why its price has dropped. Many people are making various comments about the drop in the price of BTC, such as the ByBit exchange hack and Trump's tariffs. Now the market is trending up again, maybe we will see that Bitcoin will touch $90k soon.
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ninja_ledgerFull Member
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#17Dec 22, 2020, 09:15 AM
Is the main reason for this drop in Bitcoin the last few weeks the tariffs? Feels like a massive overreaction if so and a lot of manipulation going on.
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0xN0nceSenior Member
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#18Dec 22, 2020, 09:54 AM
The price is still quite good, and it depends on whether you are going to buy it or not. It depends because it’s all speculation. However, I believe in my trading analysis that it will go up around maybe $90k again and then go back down continuously, maybe around $60k. Once more indicators confirm it, I believe we are in a bearish market now.
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ninja_ledgerFull Member
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#19Dec 22, 2020, 04:10 PM
By bearish market, do you mean bear market or just a bearish part of the bull run? I get we can have months of down and sideways action but would be very surprised if $109k is the top this year.
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ryan_orbitFull Member
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#20Dec 22, 2020, 06:35 PM
If people have been in bitcoin investment for a long time maybe the current drop will not make them panic because this is a step that is bound to happen at a certain moment and people will even try to take advantage of the condition to accumulate more towards buying bitcoin. Experience will give someone the ability to control panic because we realize that every step down that is so sharp is the best opportunity to accumulate. So keeping calm and continuing to accumulate is the best way to keep your investment growing and developing. I think if this continues maybe bitcoin price will hit $75k although there will be more sideways conditions on the way. But maybe $80k is a support that might trigger the price to go up or go down deeper for the next few days.
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