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Bitcoin down to $34k,do you see a price drop happening?

  • Thread starter Thread starter Henrywrites
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Well it's normal because that's due to its volatility, it could go down like it's doing now and it could go back up too so it's better to buy now and hold till it rises back
 
As far as well or referring to cryptocurrencies and Bitcoin in quotes there is always a possibility that the price will go up or down and since it's down now it may still go down or go up.
 
Bitcoin was going very big until May when bitcoin and many other currencies became all time high, but since then the market started going down and the price for many currencies went down by at least 50 percent.
 
As of this very moment, Bitcoin is up $40000 now not the $34000 you're quoting sometime ago. And as for the price coming down, I'd say the price will still go further up than down
 
Henrywrites said:
Few days ago, we had the news of the price of Bitcoin going as high as $41k but just yesterday, the price of Bitcoin, and other crypto currencies, took a downward slop with a BTC going for $34k.

I'm yet to sell my coins, though I'm worried if such trend will continue. What do you think?
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The price of Bitcoin went back to $40k today. I have seen it also went down to $29k. Indeed the price of Bitcoin is going up and down every day. If you sold your Bitcoin at $34k that means a big loss for you because the price of Bitcoin is now rising again. If you have bought at $40k then you sell at 34k, I think you sell it a lower price and it's a losing trade in spot trading.
 
Anything can happen in the world of cryptocurrency. You wake up one day and you discover that the price has gone higher. And you realise that the price is declining on the other day. But it is good to always watch the market trend so as not to lose money.
 
BTC price is simply on the improvement. It went up +20% in the past seven days, even reaching $40,000 recently. Even though the figure has dropped a little the signs of moving back to the top is roaring.
 
As at the time of this thread, Bitcoin was on a bullish run and I hope you didn't sell your coin seeing that Bitcoin rose shortly after to $60k although it's fallen again
 
Henrywrites said:
Few days ago, we had the news of the price of Bitcoin going as high as $41k but just yesterday, the price of Bitcoin, and other crypto currencies, took a downward slop with a BTC going for $34k.

I'm yet to sell my coins, though I'm worried if such trend will continue. What do you think?
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I hoped that you were able to hold your coins and not run into selling it that period. Because if you held it, you should be looking at making better profits by this time
 
It's better you keep your Bitcoin in your wallet if you have no pressing need for it. Bitcoin is recovering from the dip it faced recently and crossed 41 k as we speak. It's a long term investment token.
 
We all did see the price of the Bitcoin still dropping further from this stated price you said it dropped to. So yes it did actually dropped further as feared that time
 
Henrywrites said:
Few days ago, we had the news of the price of Bitcoin going as high as $41k but just yesterday, the price of Bitcoin, and other crypto currencies, took a downward slop with a BTC going for $34k.

I'm yet to sell my coins, though I'm worried if such trend will continue. What do you think?
Click to expand...
Bitcoin going up and down is normal because of its volatility, bitcoin rose as high as $58,000 around February this year and later came down to $38,000, but currently is $41,000.
 
Well, this thread is a pretty old one with the figures because Bitcoin was down at $29k a few weeks back and now it is up on its feet at $40k level. Maybe the trading has continued and some groups have been buying so they can affect the market price. That is silly if the sellers are also the buyers.
 
Bitcoin even dropped down to $29,000 around last month and currently it touched $42000 last week, I think this is a welcome development and I am sure it will attain an all-time high before this year ends.
 
If you look back the the price history, bitcoin has dropped too low and also gone very high. In 2013, Bitcoin dropped to $400 from $1100 when China banned mining, this time also the drop of Bitcoin was due to China's ban on mining.
 
Though this post has been long because the current life of bitcoins is no longer at that range. It has increased a little bit but that does not mean that the bearish moment has gone.
 
Most of the panic is cause is by short term investors but long term investors has nothing to worry about because they know it can turn around.
 
The market is back at 50k price and we hope to see even more moves before the end of the year.
We hope to see Bitcoin trade at 100k by December
 
That was just a minor attraction at the moment and I believe that the price of Bitcoin is going to go very high in the coming months so this is the best time to buy.
 
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