Three possible reasons why bitcoin price dropped by $3000 - Is the bull trend still there?

[mahdititus16 216]

i think there is a lot and many of reasons why bitcoin take hight price , so i can tell you some form this reason 

Very good analysis, I think it is also a small retreat of preparation for a new uptrend, for example the CEO of BInance speaks that it can stay some days between 16 K and 17 K. but stoy almost certainly breaks the 20 K before the 2021 or the first days.

so that all the thing i have to tell you , so good luck brother .

[Brushless4500KV 4214]

Yes, the trend is still completely bullish because yesterday BTC had a big rise to above $18K and now it is approaching $19K. That $3000 drop was just an opportunity for others to join and earn. Day traders are still active and holders are waiting for prices above the last ATH to sell their coins. We should be grateful that the prices are not fixed because a frozen market kills every opportunity for earning.

[babaji 1228]

Why is this topic still alive. This is plagiarised post. This post is copied from

https://asiatimes.com/2020/11/why-bitcoin-crashed/

and yet the source was not listed in the post. That actually means immediate deletion and ban of the user. 

[Raqeebzy 6456]

19 hours ago, setifien said:

As I can see now on the chart, btc is recovering after the short pullback correction, now it's traded at the rate of 18200$ which is very positive at the 7 days frame, and for the next bull run, it may go higher than 20k$ pa

I agree partly. It is currently traded at a little below $19k. I really think today, it might test on the $19'200 resistance. On breaking, there might be a new all time high soon. But on the other hand, it might find itself back the $17+. Personally, I think we should expect the latter.

[Whited35 15285]

1 minute ago, Raqeebzy said:

I agree partly. It is currently traded at a little below $19k. I really think today, it might test on the $19'200 resistance. On breaking, there might be a new all time high soon. But on the other hand, it might find itself back the $17+. Personally, I think we should expect the latter.

@Raqeebzy China has seized a massive amounts in crypto. That news has certainly played a crucial role to give a recent price raise in Bitcoin. Whales are increasing to cash out at the same time but buyers are also looking at the same ration. All of these things may push Bitcoin to get another milestone 😉 !

[Bellamy 1065]

When you invest in Bitcoin you must be clear about the volatility of its prices, after the halving, the fomo effect started which influenced the rise in its prices, plus there are other factors that influenced and that you name in your publication. On the other hand, what is advised is patience since prices at this time are recovering and are on their way to 19 thousand again. Bitcoin is the best option to invest at whatever price, since in the not too distant future everything indicates that prices will increase greatly.

[Raqeebzy 6456]

14 minutes ago, Whited35 said:

@Raqeebzy China has seized a massive amounts in crypto. That news has certainly played a crucial role to give a recent price raise in Bitcoin. Whales are increasing to cash out at the same time but buyers are also looking at the same ration. All of these things may push Bitcoin to get another milestone 😉 !

I haven't heard of that but I think it has been playing a huge role because bitcoin is buzzing and breaking out right now. Just after making my comment, it went to 24h high of $19'300. There are good signs of a new alth but it might be too early to conclude.

[Gluttony 1775]

I think the bull trend is still there it is just that there is a possibility that the users or traders suddenly make a hesitant decision in their trading choices. They must have been thinking that the nineteen thousand price range would already be the peak of the price range of bitcoin in the market so I think it would really make the price range of the bitcoin to suddenly dropped but the bull trend is still there and currently the price range is rising up to reach the peak of the price range in the market. I would say that the increase in its price might not stop until the end of the year.

[Whited35 15285]

31 minutes ago, Raqeebzy said:

I haven't heard of that but I think it has been playing a huge role because bitcoin is buzzing and breaking out right now. Just after making my comment, it went to 24h high of $19'300. There are good signs of a new alth but it might be too early to conclude.

@Raqeebzy Getting busy due to current bull run 😜 ! I spent whole day by performing the active trading for BTC/USD and tracking the chart pattern. Looking interesting, every indicators are exhibiting the green signs now. I want to be sure, you have not missed this opportunity to predict 😉 !

 

[Raqeebzy 6456]

24 minutes ago, Whited35 said:

Getting busy due to current bull run 😜 ! I spent whole day by performing the active trading for BTC/USD and tracking the chart pattern. Looking interesting, every indicators are exhibiting the green signs now. I want to be sure, you have not missed this opportunity to predict 😉 !

Also trying to see if I could make some few profits. Guess, we are in a similar situation now. 

Hopefully, this week, it might reach $20'000 this week.

And about the prediction contest, I am just seeing it. If it has ended, then I think I have already missed out.

[pablomarwan 3082]

It may be just a technical correction. But cryptocurrencies are not like coins. Sometimes they do not respect that correction, in the end they become a passing wave to the bottom. Recently, the price of Bitcoin decreased by 1%, or about $ 600, and this is the second time that the price was exposed to a decrease in the same week.

[Sykkuno 2887]

There are possibilities for anything. What happens in trading is that traders sometimes sell to take profit and 20k was the best opportunity for the bears to start playing games again. Price not always moves up but as prices drop we watch the support being strong and this is why we watch the chart being more bullish.

[Frodler 943]

I believe the pull back just made a return again and these time it has dragged bitcoin to somewhere bellow $19000 and I am sure the reasons for these pull back is just as you have rightly listed. 

[cryptovlek 2597]

I don't even remember all of these anymore. The demand for Bitcoin has been spectacular and any minor drawbacks in price didn't mean anything. The bullish pattern is still intact and it can reach higher, or there can be a small period of new accumulation and Bitcoin can build again another bull flag.

[yonkii 3205]

We make analysis and see the market trends too and follow the sentiment as we read news, and investors but one day this can change so we should be ready if we want to sell high and buy lower. Although this is not recommended lately as Bitcoin price keeps rising without even stopping for a while and trading has not been very profitable, while holding is the top priority.

[bogdanoff 3173]

Really though, was any of the dips we have seen so far threatening the long term for Bitcoin? The chart is full of dips that even reach 50% drop during a bull run. You don't know even about these if they will change the price action to bearish, as traders will buy and more investors may join. You need to wait for some more time to find and pay attention. I was never scared by any drop of price so far.

[Syriana 350]

I do not think that the expectations this time are correct, my friend, because I see that Bitcoin prices are on the rise and will continue to rise to an unknown amount, so I advise everyone to buy and keep them and not to give them up in order to increase your profits and gains.

[Samotokika 1780]

On 11/27/2020 at 12:05 PM, BrolySSJ said:

The recent crash in the bitcoin market has everyone in the crypto world on edge, especially with the losses that some incurred and the fact that the last time there was a crash like this, the price plummeted greatly. However, in order to understand whether there will be a further drop in price or if the price of bitcoin will now start to recover, let us look at the possible reasons for this price drop and then from there say if the bull or bear market is coming. 

 

The firs reason for the drop in price is that there has been excess leverage. Over the course of the day that the bitcoin price dropped, there was close to 2 billion dollars in derivative positions that were cashed out. With these derivative positions, the price was bound to crash. 

 

The second reason is that this could just be a technical pullback, and if this is the case, then we should see this as a healthy pullback according to Stack Funds' Dibb. Pullbacks occur as a way to adjust the market and to reestablish and realign the market so that it can be in a more favorable bull market. 

 

And lastly there are smaller factors that could have affected the price as well. One of these factors is a rumor that the US will track owners of crypto wallets. Therefore there is likely that there was a major sell off of crypto for those that feared this rumor. Another factor is that the exchange OKEX has stated that it will resume with withdrawals and therefore it is possible that there is, or rather was, a lot of withdrawals during this time period. 

 

Based on these reasons, it is believed that the market is still showing a bullish trend. Crypto analysts believe that this was just a pullback and they are still confident that the price will surge even further than we have seen already. In fact the co-founder of the Mumbair-based WazirX exchange says that there is a good chance that bitcoin is still yet to reach its high point. 

 

Based on this analysis it seems that now may be a good time to continue to invest in bitcoin, and if you have made losses because of the drop in price, then perhaps you should HODL your coins and be patient. You soon may be seeing a profit. Do you guys agree with this analysis? Let me know your thoughts on bitcoin trade and future price speculations. 

Yes dude  may be at that time there are some reasons for falling in the price of Bitcoin but nowadays as digital currencies are stabilized so the price of Bitcoin is very much higher and its goes on increasing day by day

[Ameralsamt 2558]

My friend, the price of Bitcoin could return and we will be a little lower, but not to the point of 3000 USD, because when it went down last year there was a big mistake so it will never happen again. 

[percare 3192]

Once again we have the same drop in price as the one in 20k, this is the second time we have seen a 20% drop, so probably this bull run will have this kind of drops and not something similar to 50% that I have seen in charts in previous bull runs. It may be too early but I think this price is a good one to buy again and continue the trend, it could be accumulation zone for a while

[JesusFries 1958]

This is not good from bitcoin in that time because many people are getting nervous and being FOMO by seeing the price of bitcoin crashing, but there are still people who are happy because they're abusing it by buying some bitcoin and selling it into huge amount value.

[Fixfin 2569]

It was during that time that Bitcoin was obviously going to drop, the drop was just too small to matter and just two weeks later price was above $20,000. You were worrying for nothing as the price isn't a stock that always moves up, there are bad days and require patience to succeed, even in a bull run investors get scarred and sell too early.

[Pereira 2303]

This comment was very right about the bull market since bitcoin did not reach its maximum level and even today I do not believe that it has reached the maximum of its value and therefore I agree with this comment that the price adjustment is necessary For the cryptocurrency to reach new cryptographic levels, we also know that the market will always be in fluctuation of ups and downs, since this market volatility is extreme.