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Bitcoin Crash

Suba

Suba

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Currently the BTC price has fallen to $55.3k. This decline began on June 6, 2024 when the BTC price was above $71k, and the next day the Bitcoin price started to fall. The unfavorable global economic situation not only caused BTC prices to fall but also caused the prices of other commodities such as stocks, bonds, property and gold to plummet. There is also the possibility of economic changes resulting from the process leading up to the US presidential election, a reduction in US interest rates which made Bitcoin prices increasingly depressed and also during this week BTC trading volume was low.

I have sold some of my Bitcoin at $69k (June 10, 2024) and I will buy back if the BTC price goes below $50k, what about you?
 
Starmix said:
Wow you're rich my friend, hard to reach. I don't have a Bitcoin to boast. I am still greenhorn in this matter. I hope the price lowers so you can buy again.
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I also hope so, before the US election, global finance will experience a negative impact that will cause prices to decline in the capital market which will of course have an impact on Bitcoin prices, because currently there is a correlation between the capital market and the crypto market, especially BTC.
 
I'm a long-term holder, I sold a little at all-time highs, but most of my holdings are still in my wallet, I bought yesterday, and I'll be buying again soon, also saving liquidity for possible deeper buy points.
 
It appears that the Bitcoin crash was only temporary for a few days, BTC will recover in a week to $60K+. I did not sell BTC in April, since Binance was largely banned here.
 
We cannot consider that everything is over, or that the fall will not continue later, this may only be a rebound, Mt.gox continues to distribute the Bitcoins and they will probably continue to be sold.
 
My prediction using Trendline is that in the next four days the BTC price will correct to around $51k. Meanwhile, compensation for BTC victims of MtGox appears to have begun, if investors immediately sell BTC it will accelerate the decline in Bitcoin prices. That's why I don't want to rush into buying BTC.
 
Suba said:
I also hope so, before the US election, global finance will experience a negative impact that will cause prices to decline in the capital market which will of course have an impact on Bitcoin prices, because currently there is a correlation between the capital market and the crypto market, especially BTC.
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Just hope Trump to win because he's going to promote to the maximum crypto currency. lol
 
Sanjeev said:
That's not good as there is lots of fluctuation. I have not dealt in crypto currency because I don't want to take risk.
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I agree, you are better off choosing the safe route, even though in investment principles the higher the risk, the higher the profit. Crypto volatility is full of challenges and requires skill and aggressiveness
 
Suba said:
I agree, you are better off choosing the safe route, even though in investment principles the higher the risk, the higher the profit. Crypto volatility is full of challenges and requires skill and aggressiveness
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I agree with that. Sometimes I think while seeing the rates that I should have invested in it. People have got rich by investing in it when the rates were too low.
 
mrki444 said:
It is not crash it is just price correction after bull run. It will go even more down. I think some prediction say lowest price during correction period will be around 20.7.
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I consider this a Bitcoin crash, as it has dropped more than 20% from its peak or ATH of $73k in March 2024, and this is an opportunity for investors to accumulate BTC.
 
Fidelia said:
There would be panic sales but people that with high risk level would still hold on.
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Currently it is a downtrend, so it is not the time for us to talk about selling but buying, because it is estimated that in November during the US presidential election the price of Bitcoin will rise.
 
I am closely monitoring the BTC prices to decide when to convert from one crypto to another and transfer to my Binance account or convert into the local currency.
 
I'll probably purchase a few thousand satoshis, as I can't be exposed per larger amounts cause the umpteenth financial law in my country regulating cryptocurrencies. It's likely our current government may think of a cryptos ban in its continued fighting against the cryptocurrencies world.
 
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