BTC down 40% in the last 30 days - Market doomed to slowly bleed following it?

I have no investments in the market due to me feeling uncomfortable with the current market.

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Bitcoin has lost 40% of its value in the last 30 days & shows no signs of stopping - Today a massive bleed occurred with most coins down 30% or more, the general trend for the last 30 days has been alts have slowly been slumping backwards - I think the 560b marketcap(at time of posting) will slump down to 400b within the next 2 weeks.

Support and the "hype" for bitcoins and cryptocurrencys that pushed it to $20k has vanished with ripple being down 55%(High of $3.06, low of $1.29 today), BCH down 33% from its high, Bitcoin down 40%, ETH down 33% from its high of $1460, so on.

The entire crypto market has steadily declined in January with a few exceptions of massive pumps(Ripple, Tron, etc), the general trend seems to be that it will continue nosediving until it hits support, where at is anyones guess .

I would recommend to see what happens - The backbone of the industry losing 40% of its value one could argue is the bubble popping. Never has it lost such immense value 20% yes but if u think about that the literal "core" of the industry has lost nearly HALF its value - That's not a pump and dump scheme when u have $200B in play.

This thread is complete speculation.

 

I believe btc will correct to 8-10k before continuing the uptrend. So yes short term not looking good, mid& long term not much to worry about. This is a healthy correction and alts were way overmooned last weeks.

Oh and if this 8-10k happens I think alts will correct more % wise.

 

was bearish since 8k lol. in many ways this is good, start filtering some money into cheap alts when btc goes sub 10k imo (if it does). I will just add into positions as they fall i recon.
(i'm not a long term investor)

 

yeah 10+% swings can occur at any price level, doesn't have to be at $50k+.

 

Check the graphs this happens every year mid January before it suddenly begins to zoom up in price.

 

Bitcoin needs to hit the 10k support before the bear market can end. Ideally, BTC plunges to 7-8k for a couple hours before quickly recovering to 10k. A bounce off 10k is a very bullish sign since that is such an important number. If BTC does not quickly recover, then 5k is the next target.

 

Did I call this or did I literally call this lmao, I'm on fire lately damn I should get back into crypto investing.

 

Despite all the losses, the total market cap for all cryptos is the same it was 23 days ago. • r/CryptoCurrency

Yeah it's crashing, but I wouldn't overreact or worry too much. Shit was BOOMING there at the end of December, did everyone think it was going to keep going until we saw 100k BTC? Unfortunate if you introduced any new money into the market over that time period, but give it time and things will be right back to what it was in December, unless you think Crypto is just done for and gone forever.

 

Combination of Israel announcing they don't consider BTC currency, South Korean regulations, the Bitconnect Ponzi scheme and tether scheme have crippled the consumer/investor faith again just like the whole China panic.

If anyone wanted to know the real reasons behind the drop of course.

 

Last year on this date the market cap was 3B, now its 340B (euro's). It will drop back to 2B and then climb again.

 

lol if thats true I would buy a ton of btc. Don't think we will drop much more here, 7-8k possible but lower?

 

Bought 2 eth and 10 LTC just now, think its an easy $500-$1k as BTC met important rebound support @ $9.5k and is getting new strength around $10k. 15-20% rebound will be easy money.

 

Basically Made my $1,000 already lol, turned $230 per coin in ETH profit =$460

turned $40 per LTC =$400

=$860 which is basically exactly where I predicted(its still raising).

Damn I forgot how easy this market is, like reading a goddam book.

Guess that's why I'm 50-0+ and never lost a dime on a coin xoxo.

 

I don't think this market is even close to done yet. New money is still coming in, new platforms are still being built for more accessibility (Coinbase custody, Goldman sachs releasing one mid-year, Bitcoin banks in Japan). While coins like dogecoin and dentacoin are still worth hundreds of millions, we're still in the bubble.

Only think I see popping the bubble is the US or Japan banning crypto exchanges but even banks are getting into crypto services in Japan and the US probably won't want to fall behind.

 

I'm kind of late to the party but what some people have to understand is the damn market was bulling for the past 10-12 months? Under any circumstance when it shoots up like that, there has to me a massive correction before it could possibly continue up. It could also be because some of the high rollers are calling their bets in early which also contributes to the market moving in a bearish continuum. This is all an opinion, and I just like anyone else, is entitled to one.

 

Completely agree. If it ever crashes to 6k I'll invest $10k as I'm positive long-term it'll grow.

 

This thread is still valid, BTC is following the same slight rally trend then massive falls and is losing support, if it falls through $10k again shits going to hit the fan. It's struggling bad to not fall through the $10k support level again today, sub $11k.

 

200 day support is 8k so its still possible

I think there is room to go up however. Just wait for the next BTC airdrop or next big announcement.

I don't think its a terrible time to buy since we are about 7k away from ATH and only 2.5-3k above the 200day support.. there's more room to move up then down from here IMO

 

I should really get into short term investing, I've been right every single time lol.

BTC testing $10k support, if it falls through $10k expect it to go to $8.5k, $10.1k right now. It's either going to meet support or be a blood bath.

I bought another 5 ETH @$975

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Think I can turn 25-30% on my money

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