The market's hit some solid resistance, leading to a noticeable pullback. We've seen this impact a bunch of altcoins too, like Ethereum which has dropped to around $2.8k, while Bitcoin's dipped down to $97k.
What do you guys think? Are we in for more dips this month? I mean, looking at history, February usually isn't this rough for the market.
The recent dip is not because of any resistance. It is because of what Trump is doing. He increased the import tariff for China, Canada and Mexico yesterday which started the fall.
If this man is not linked to crypto, something like this would not have happened.
I am not sure anymore but I know that bitcoin has not gotten to ATH.
I want to say to myself that "at some point, we will see a pull back since we are in a bull run", but the reality is, what's happening around US and other countries regarding tariffs is affecting not only the crypto market, but all markets as well. Trump is the reason Bitcoin went up to $100,000 around November, now he's also the reason why we might see Bitcoin going below $90,000 yet again. Crazy, right? Welcome to the crypto space.
I tried to look at the charts of Bitcoin, and those red candles really hurts especially those newbies. Kidding aside, the current support is at near $90,000 which has touched last December, and going below it and staying might result in a more downwards pressure. Right now, we are seeing a negative sentiment around all of the markets because of the tariff thing-y.
Like I said, if Bitcoin goes below $90,000 then yes, we might see more dip. As for me though, I know that everybody's experiencing panic and fear right now, but history says that Bitcoin moves well during the month of February. Just take the opportunity to buy even more... I guess.
Good pullback and seems like it could continue. 94.6k if it cannot recover that price by at least the end of today then we should assume BTC price action intends to test the lows of the last couple months of 90k. A proper sell would have us go back to the 200 day and year average at just above and below 75k but I do not think that happens easily just yet. It does seem like some test lower will be occurring it can reverse here and fake out the sellers into a snap back upwards.
I always favor the possibility of a sell off and test because that equates to strengthening and greater future gains after that test of selling has relented and run out of energy. Its worse if continue upwards without letting out those who were always going to sell anyway.
The strong resistance might be caused by a very strong speculation that bitcoin might have pumped to the all time high of the bull market at present already. A new occurrence of another bull market might be needed and where another all time high will continue.
I am not 100% quite certain of this, however. This is only what this trendline in chart is declaring.
depends on the regulation and geopolitic if i'm being honest, the fact that BTC can hold $100k price point for long is already good enough, but remember what happened to BTC back before breaking major resistance, it dumped all the way to 49k and few weeks later it broke major resistance and setting new ATH of $100k, same scenario could play out, but there's no guarantee, only good news can change the tide, but it's really bad situation for alt coin in general, I'll be waiting until BTC dominance showing bearish sign then I'd recreate my position in altcoin. just be prepared in case there is a dip after this dip .
Well we do not know how much more lower the price of Bitcoin is going to go. For me I did not think it would go below 100k but now we are here and price is 93k.
But for investors with extra fiat to invest now is a good time to buy. You will make alot of profit when we do see a new all time high some time in this year. Now is a good time to stack sats while it is cheaper.
Sometimes, I wonder what people actually expect from bitcoin. I think we all agreed and know the nature of market how volatile and fluctuating it can be. Why the unnecessary panic when there's any sign of decline in the market? From Op post and many other posts here, I can confidently say that people actually expect bitcoin to go high, high and higher and never down at all. If that should be the case, where is the volatility again?
Moreover, the pro crypto president of USA will trigger the market with his decision either positively or negatively. That's one effect of having a pro crypto president. Although, it's much better than having anti crypto in power. A decline like this is much expected but the good side of it is that it's temporary and we'll definitely bounce back.
Even history may trigger strong sentiment into traders, I believe this February might be different from previous all; it means Michel Slayer may come back with another few Billions along withs ETF providers. So, we may see significant recovery toward $105k levels from the current $93k levels rather than falling toward $87k levels. There is a strong support zone around $91k to 90k levels hence let's wait and watch that we are able to hold that this time as well.
Yeah, I am as well one of those, speculated to have a new ATH by the beginning of new month like wanted to see bitcoin testing 110k levels but broken the 100k support and trading near 30 day low. Hope it is time for institutions start chasing these levels.
Welcome to the new situation of Bitcoin price
We already see what happened to Bitcoin and Ethereum. Bitcoin now is at $93k and trying to break $94k while Ethereum is at $2,400 where want to back to $2,500. But it seem this down will continue for this month so be careful to analyze and no need to rush.
We don't know what will happen to this February but the market could be that negative. If more bad news release, that will affect to the market so you need to be ready for anything that can happen. But this situation gives us more opportunities to buy back Bitcoin at a low price and Bitcoin seems gives this to us so we must use this opportunities for our own benefit.
Since predicting what the price of bitcoin will be in the next second, minute, or hour is really difficult to do, nobody can really tell if there are still more dips ahead because even those folks that are good with technical analysis didn't see this recent dip coming. As we are patiently waiting for the market to bounce back, those folks that can buy the dip without struggling to sort out their daily expenses should make use of this opportunity and accumulate more bitcoin at a lower price.
It's hard to say how long this dip though, but if you look at the market, 24 hours low is $91k but then we have bounce back to $95k currently. I'm not really sure about the altcoin markets as we haven't seen them having their own bull run.
But as far as bitcoin goes, it seems that the dip might be over. We will find it out in the next 24 hours if the price can maintain that $95k or the bulls taking over again and going on the next stop of $97k. I'm feeling positive though that there are a lot of investors that are going to take advantage of the price right now as it is still a discount at below $100k.
Usually if we see this kind of dip because of some negative news, it will go around 2-3 days until the news has settled down a bit. So in this case, it's because of Trump's tariff on three countries, I'm expecting that we might see this until Friday before we can go and recover. Weekends though is slow so I don't expect it to happen during that time. So give or take, maybe a week or two and then we will be fine.
So the best thing we can do is wait or,
(a) buy during this dip
(b) do nothing
It's your choice, but it's very obvious that (a) might be a the best one, that is if you have the money to buy right now.
Well, I don't really think that this could stop or gain back momentum within the weekend or before the weekends, we know how the market are being influence by news and this could be as a result of negative news or positive news. But currently, we can say the news right now has been on a distorts where the market is not influence positively.
Unless the price is at $92k or $86k, there is no problem, we are still at a high level but we are at the bottom of this high level.
I will quote ImThour topic
Unfortunately, if nothing happens in the coming months or weeks, I will stop recommending it.
Do you have any data showing whether February has historically been a bad month for Bitcoin?
Bitcoin's price now is dipping but I can't say for sure if it will continue to fall, but I have a feeling it might. It's trading at around $95k and these recent drops make it seem like the market is no longer bullish. This downturn probably started with the tariff news imposed by Trump, and now the market is slowly bleeding. I just hope Trump doesn't start dictating Bitcoin as I'd hate to see him play us like a fiddle.
It's not that I'm negative about the current Bitcoin market situation and conditions. I'm the opposite of negative in seeing this decline. Indeed, the price of Bitcoin has reached above $105k and that price is now holding as an ATH. Maybe the ATH I'm thinking of is not at $108k or $109k, but more.
The current price decline may be due to an action taken by someone who has influence in the market. It could be the influence of US policy, in this case Donald Trump.
95k eyyy. Honestly didn't expect it to go below that, we had 93k a few hours ago so who knows how much lower it can actually go? Personally I assumed the resistance would hold strong at 95k levels. Well seeing as we did pump up back quickly to 95k, I guess there's some sense to that. Might still dump a few times though but I don't think we're going to see it last that long every time.
I agree that Feb doesn't seem to be that bad of a period for the market, doesn't seem too good as well though. As others have pointed out, looks like it's just reacting to the tariffs that Trump implemented. No surprise with how much his influence to the market is. I mean we literally saw a 20k increase iirc during elections.