What are your thoughts on the recent BTC crash?

[rekter 8129]

BTC just bounced from MA 200 but do you think that support is going to hold? I am extremely bullish right now on it, but my altcoins did take quite a beating and i am still regretting not selling those before but i guess i can't predict everything. At least my alts are long time solid in fundamentals so they are bound to rise some day. At least i am hoping so.

Edited March 12, 2020 by rekter
typos

[rekter 8129]

2 hours ago, fila said:

Really tough to see how fast things can actually go backwards and this not just related to crypt currency but for everything in the world as this corona virus is tearing apart society. And as I am typing this bitcoin just reached the 4900 us dollar level.

And it went trough that support line too, i really don't know where the bottom is supposed to be... Maybe $3800? My bullish scenario went out of the window and people are devastated. Even experienced traders weren't are shocked now. I have to bow to anyone who shorted this trade, i didn't have guts to do it.

[Prince90 668]

Well bitcoins and all other altcoins have crashed significantly in the last few days. Its all happening due to the spread of corona virus. Even i have little ltc but i wasn't able to sell them when they where $50 but now the price is under $30. I am really regretting my decision. But now only thing we can do is to hold our coins. Also if someone is willing to buy crypto now is the best time to buy.

[bliznec 22267]

In addition to Bitcoin, there are many more cryptocurrencies that suffered while Bitcoin dropped below the $ 4,800 mark. Most likely, Bitcoin will gain a foothold at around $ 6,000 and above. 

[Syedbesharat 5423]

I have been trading, from 2 weeks all my trades are stuck in EURUSD pair ,i am just hanging on cliff  where my account can be washed away any time.The dollar effect is showing on Crypto market as well.My crypto assets are fall down.But this come back to track in few days.I  hope people will hold tight during this tide .

[jacker 1095]

really harmful, I was a bit negative, it dropped so fast if it didn't stop or didn't pump some of the altcoins would die. Bitcoin dominates all but some altcoins are not strong enough to withstand it. I didn't know the bottom of it, I was afraid it would be $ 3,000, just glad I could buy it for a low price but I was worried

[BTC Future 3946]

It actually broke even the 200 monthly average and went down to bellow $4000 levels in many exchanges. This was shocking and while many begun reconsidering their stance, in a matter of minutes it bounced about the 200 MA again. I don't know if it can actually hold or even retest some bottom like that. I think that it was about to go even lower especially the moment Bitmex halted trading claiming server error. The bounce looks promising, but I've failed in the past to predict lows. I'm actually doing better with bull markets instead.

[rekter 8129]

1 hour ago, BTC Future said:

It actually broke even the 200 monthly average and went down to bellow $4000 levels in many exchanges. This was shocking and while many begun reconsidering their stance, in a matter of minutes it bounced about the 200 MA again. I don't know if it can actually hold or even retest some bottom like that. I think that it was about to go even lower especially the moment Bitmex halted trading claiming server error. The bounce looks promising, but I've failed in the past to predict lows. I'm actually doing better with bull markets instead.

Yep, 300 is holding though. I am not really sure what should i make of this. This looks really bad for the btc future, even if that would hold we might want to move our mooning expectations happening soon. I am just hoping that i am wrong.

[Ali_hmwi 966]

 

we will know at the end of the week candle colse other thing now is just talking we can't know what is ganna be the next minute.

[Abiaan 1209]

it was so hard dump , i didnt expected such a bearishness on this year of halving but i have been on 2 bearish market before and is kind of used to with bearishness 

[Ali_hmwi 966]

41 minutes ago, Sweety93 said:

I didn't know the bottom of it, I was afraid it would be $ 3,000, so glad I could buy it at a lower price but I was worried .Really harmful, I was a bit negative, it took off so quickly if it didn't stop or give some shine, the Witcoin would die. Bitcoin dominates all but some Altcoins are not strong enough to withstand it

We can't say anything until the week is end and the coin should be above 6000 k 

[johant123 1559]

My thoughts? This is an extremely useful lesson for those who thought crypto is a kind of savings account, and did not believe how volatile cryptocurrencies are. I only hope they will not panic, and will not start selling!

 

For me personally, it is a nice buying opportunity. I hope we hit a low yesterday, because I placed a substantial (for me) buy order. At least I am convinced that prices will rise again, and then this was a good decision.

Edited March 14, 2020 by johant123

[AkaCrafterCZ 1140]

All the prices of first 100 on marketcap dropped rapidly, for Bitcoin it was a big dump that just happened during a few hours. It's all because of corona virus and the upcoming halving, which I believe will make Bitcoin double its price and continue with a bull run for the upcoming years.

[kadayakito 765]

Bitcoin has recently dropped so sharply, it surprised me because I didn't think it dropped so fast. Bitcoin is falling and altcoins are also falling in value. I hope it doesn't drop to $ 3000

[Honny143 13612]

This is nature power bro in few months back no one predicts bitcoin prices down and we see bitcoin prices under 5000$, its happen only for corona virus this virus destroyed China economy, and crypto market every one knows so many big investors belongs china, so now we face this problem, but its good so many people invest in bitcoin.

[Rickso 768]

On 3/12/2020 at 11:29 PM, rekter said:

BTC just bounced from MA 200 but do you think that support is going to hold? I am extremely bullish right now on it, but my altcoins did take quite a beating and i am still regretting not selling those before but i guess i can't predict everything. At least my alts are long time solid in fundamentals so they are bound to rise some day. At least i am hoping so.

in this period i think we can't talk about technical analysis or other trading stuff. since the world economy is crashing, now is all moved by speculation and fear. so trading now or give price predictions it not a good idea

[Calvinpriva 17296]

Bitcoin has fall very much but i suggest you to hold because you will get profit if you will sell your bitcoins now, just be patient. But altcoins are going down and up everyday, you can earn profit by trading them every day.

[BrolySSJ 7899]

I have mixed thoughts on the crash that has happened in btc and with other crypto. On the one hand it is a good thing for the btc to crash  because then it allows us to make more from faucets in terms of its satoshi value for when the price goes up alter on. However, on the other hand it reduces the value of what we already have. This is quite a difficult one, and i think that the price of btc will recover despite its crash and we should all be looking forward to that.

[rekter 8129]

On 3/14/2020 at 3:13 PM, Rickso said:

in this period i think we can't talk about technical analysis or other trading stuff. since the world economy is crashing, now is all moved by speculation and fear. so trading now or give price predictions it not a good idea

I disagree. Just because we aren't going up doesn't mean that some resistance levels aren't useful. Just like after that chart we bounced from weekly 300 MA. And i am starting to think that virus was just a trigger for regression that has been coming for years now, it wasn't even the real underlying reason. And btc is now just blindly following other markets.

[BTC Future 3946]

About the recent collapse it looks that the funds that left from Bitcoin were invested recently, probably the last two years. They treated Bitcoin as a speculative asset and were always ready to leave and dump everything the moment a situation like a black swan appeared. I expected as much and perhaps even more, but I couldln't forsee the date, or that it will happen in this extent. Now we are in recovery mode and will probably hit prices about $7500 perhaps even today.

[bentayebsalah 2280]

I see the Bitcoin price will rise soon after finding a solution to the Corona virus and we will see a recovery in all cryptocurrencies

[Fedor00 74]

It seems like the recent crash of bitcoin has ended. The market is recovering and the price is almost at $7000. Hopefully it's going to continue going up like this 

[MCSGlegend 2210]

I think that this decline in price was due to the fact that people who are not experienced just started selling all the cryptocurrency thinking that now prices in the entire market will fall.

[sashaalexandrev 1499]

I do not particularly relate to this, since I guessed that this would be the case and decided to sell my bitcoins for a while.

[phizusiki 239]

On 3/13/2020 at 2:20 PM, UsedCondoms said:

Right now we can all just hope for the best. I'd be weary about buying right now but it might be something to consider. it could rebound tomorrow.

there are many other cryptocurrencies to suffer while Bitcoin drops below the $ 4,800 mark. Dollar effects are also displayed on the Crypto market. .But this will be back for a few days. I hope everyone will hold on during this tide.