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

[Henrywrites]

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?

 

[Ltherman]

This is just a normal market correction. After its correction its making another all time high what i am not sure is bow long this bearish market will last but right now it seems to have found a comfortable support at around $34-$35k. About panicking its a normal thing for investors, you can only be wary if you bought it at $40k.

 

[Nurudeen]

If you are a long term investor you don't need to panic sell your coin. Most of the people who are at loss now in Bitcoin are those who bought at the top. So if you bought low and you are aiming to keep the coin for a long term then you shouldn't be bothered about the recent downtrend in the market at all.

 

[chicnthin]

These kind of movements happens all the time and is just normal. Its price may be dropping for now but I'm sure it will soon rise again. Nothing to worry about if you're planning to invest for a long time, but if you bought at around $40k, it's not a smart move. You should've waited for it to drop before you bought.

 

[Sake]

I think you don't need to worry much, did you just bought your coins recently? Im not sure if this will continue but you can always wait for another all time high. Though im kinda shocked to see how much the price reduced already

 

[Akinwale701]

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?

Well, it depends on what the interplay of demand and supply of bitcoin becomes of in the next few days or weeks from now that's when we can know what to really expect. besides, we should not all forget the abnormal pump that BTC gave us some days back, so it's a normal thing if it dumps.

 

[maventiger]

If you are a long term investor you don't need to panic sell your coin. Most of the people who are at loss now in Bitcoin are those who bought at the top. So if you bought low and you are aiming to keep the coin for a long term then you shouldn't be bothered about the recent downtrend in the market at all.

The more reason I'm still willing to hold my coin. Although, I bought the coin at high rate. No doubt the value will rise. Long term investors shouldn't panic, the fluctuation is Needed to stabilize the market. A rise in bitcoin value in expected in few days time.

 

[Henrywrites]

Well, it depends on what the interplay of demand and supply of bitcoin becomes of in the next few days or weeks from now that's when we can know what to really expect. besides, we should not all forget the abnormal pump that BTC gave us some days back, so it's a normal thing if it dumps.

The pump was really surreal especially with the way it pumped from $30k to $40k in a space of one week. The demand was really high at that moment, but that makes me wonder why many are now selling their coins. What do you think is the cause?

 

[Koldej]

There is no doubt it will happen, the gradual drop in price of bitcoin should be nothing to worry about expecially for the long term investors, it will definitely increase with time

 

[Ojonuyo]

I am just hearing about this from your post. The drastic difference between the two price within few days is two much to be true. I knew that bitcoin was on the raise as at last year. I would do my own personal research to confirm this.

 

[joy101]

I think you don't worry much especially with the way pumped from $30k to $40k, in space of one week the demands was really high at the moment, that make some sell their coins, is normal thing for investors.

 

[Suba]

I care and always pay attention to the price changes that occurred yesterday, I even created a thread with the link: https://bizdustry.com/threads/will-the-crypto-market-continue-to-rise-or-fall.8601 , There was a sale of crypto, especially Bitcoin, so the price was corrected, so we don't have to worry that the price will continue to fall, and now the crypto price has strengthened again.

 

[Bilal0087]

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?

Yes dear I am well aware about the decrease in price because I have bought Bitcoin with my $70,at the rate $41000 but unfortunately now its rate decrease upto $34000 I am in loss of $12 up till now.

 

[Kennysplash]

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?

This has been a shock to me, for crypto currencies to experience such sudden downward spiral. But then that is to be expected right? Crypto currencies rise and fall, let us just hope that it rises and passes the all time high again.

 

[Chumzy]

Bitcoin is a currency, and just like Fiat currencies, there will be ups and downs in the value of the coin. This wouldn't be the first time it is falling, it usually happens. It will rise again, higher than it was, and that is a fact.

 

[Josemendez]

Yesterday January 11 was a really bad day for cryptocurrency world . There was a heavy decline of almost all the potential coins , Bitcoin decrease up to $30k ,and ethereum was at $980.
However they have all started rising back now.

 

[Richard92]

Bitcon all lead the crytocurenccy market, for it dropping to 34k dollars does not mean it will it price will drop. Bitcon just hit 40k dollars three days ago, I see a great future for Bitcoin in the crytocurenccy market, that is why every individual, business owner should have a Bitcon because Bitcoin is the future of the crytocurenccy world.

 

[BrolySSJ]

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?

I think that the price decline is likely to continue in the coming weeks and the reason that I say this is because there was quite a large bull run in bitcoin and whilst this was amazing, I think that the price will experience a bear run that is based on many sales orders at that price. On the flip side this could just be a correction factor? My point of view is probably to sell the coins that you have and secure your profit.

 

[kayode10]

Bitcoin ones the obey the law of gravity, whatever goes up will surely comes down. When a commodity or a good keep rising in price and got all time high, the next thing we should be expecting is fall and it is happening now. Someone said you don't invest when the price reaches the peak. All you have to do is to hold the coins till the price comes up again and sell. That only way out this mess.

 

[BrolySSJ]

Bitcoin ones the obey the law of gravity, whatever goes up will surely comes down. When a commodity or a good keep rising in price and got all time high, the next thing we should be expecting is fall and it is happening now. Someone said you don't invest when the price reaches the peak. All you have to do is to hold the coins till the price comes up again and sell. That only way out this mess.

Yes having patience in the crypto space is extremely important. The price may fall however it is important that with major coins like bitcoin that you don't sell at a loss and rather that you wait for a later point where the price increases to sell. Panic selling is the worst enemy of any investor or trader.