The Bitcoin Dip Is Here, But Who’s Buying It?

The Bitcoin Dip Is Here, But Who’s Buying It?
фото показано с : zycrypto.com

2020-3-16 23:30

The last few days have been quite a rollercoaster for Bitcoin, with prices fluctuating rapidly. Before the flash crash a few days ago, Bitcoin had hit the highs of $10,500 and was all ready to cruise for the $15,000 target. However, that didn’t happen as the financial world felt the shock of the now-infamous CoronaVirus dilemma.

The collapse of the stock market effectively set the stage for the ripple effects that affected the crypto market. Within hours, Bitcoin fell from the highs of close to $8k to the lows of $3,800 before settling at the $5k range. Since then, the top coin has been swinging between $5,000 and $5,500 for some days.

Market Psychology

However, besides the apparent price volatility, it’s the buying scene that’s really interesting. Historically, shrewd investors have rushed to buy Bitcoin during its dip days. That doesn’t seem to be the case this time, especially with regard to new buyers. One crypto enthusiast named Crypto Kimbo sought to explain this scenario in a twitter post. He called it market psychology.

Bitcoin At $10k

When Bitcoin was trading within the $10k range and showing bullish signs, a lot of people wished that they had bought during its bearish days at $5k and below. Many people swore that if ever Bitcoin went back down to the $5k range, they would buy a lot.

Granted, this sentiment was largely fueled by FOMO since Bitcoin was showing all hallmarks of a seriously bullish asset. That was compounded by the fact that the crypto is nearing its halving time slated for May, an event that would spring it up by huge margins.

Bitcoin At $5k

In comes, the flash crash, and the people who swore to buy Bitcoin at the dip aren’t interested in buying. This sentiment may be driven by the narrative that the global financial crisis is just beginning and Bitcoin may drop further. 

However, according to market pundits, people who won’t buy Bitcoin during the dip will be the ones to regret their decision when it spikes again to cross the $10k threshold. Either, market psychology is proving to be a rather interesting phenomenon.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66214.67 (+0.14%)
Объем 24H $18.695b
Изменеия 24h: -1.20 %, 7d: 7.97 %
Cегодня L: $66040.38 - H: $67668.16
Капитализация $1304.466b Rank 1
Цена в час новости $ 4886.62 (1255.02%)

bitcoin days highs hit ago had 500

Источник: zycrypto.com

bitcoin days → Результатов: 126


Bitcoin: $22,600 Or $31,200? Odds Split For Next 90 Days

Bitcoin (BTC), the leading cryptocurrency, has defied expectations of a steep decline to sub-$20,000 levels and has rebounded to the $26,000 mark, registering a 3. 5% gain over the past 24 hours.   This resurgence in Bitcoin’s price coincides with the predictions made by Chartered Financial Analyst Timothy Peterson, whose recent social media post outlined the probabilities of Bitcoin dropping to $22,600 or rallying to $31,200 within the next 90 days.

2023-9-13 01:00


Фото:

Bitcoin Bullish Signal: Large Whales Accumulated 37,100 BTC In Last 10 Days

On-chain data shows large Bitcoin whales have finally started accumulating in the last 10 days as BTC has rallied strong. Large Bitcoin Whales Have Added 37,100 BTC To Their Holdings In Recent Days As per data from the on-chain analytics firm Santiment, multiple Bitcoin holder groups have displayed some strong accumulation recently. The relevant indicator […]

2023-1-16 18:00


Why Bitcoin Bulls Might Be Ready To Breach $20,000 Into The Monthly Close

Stuck right below its 2017 all-time high, Bitcoin is moving sideways with low volatility over the past few days. The crypto market is preparing to close another monthly candle in the coming days. This event is set to move BTC and other cryptocurrencies, but in what direction? Related Reading: TRON Showing Hints Of A Major Rebound After A Week Of Rout At the time of writing, Bitcoin (BTC) trades at $19,000 with 0.

2022-9-27 21:28


Фото:

The Countdown is on: Bitcoin has 3 Days Before It Reaches Apex of Key Formation

Bitcoin is seeing relatively lackluster price action today, with it consolidating within the mid-$30,000 region as altcoins all explode higher Where the entire market trends in the mid-term should depend largely on whether or not Bitcoin bulls can establish $37,000 as support The crypto has tested this level on a few occasions overnight, and it has been holding strong One analyst is now noting that BTC is likely to range for the coming few days […]

2021-1-17 00:00


Фото:

Historically Accurate Analyst Expects Bitcoin to Hit $18,000 In Coming Days

Bitcoin has been rallying higher once again after days of consolidation. The cryptocurrency currently trades for $16,100, though traded as high as $16,500 hours ago. A leading analyst says that Bitcoin is trading in the midst of a textbook Elliot Wave pattern that will likely end with BTC peaking at $18,200 in the coming days, then correct toward $15,000.

2020-11-14 10:00


Фото:

Bitcoin Shatters Its Correlation to Gold as It Tanks Alongside Equities

Bitcoin’s price has been facing immense sell-side pressure throughout the past couple of days This has mainly resulted from the revelation of multiple bear-favoring news events These events – including the BitMEX imbroglio and President Trump’s health – have led many analysts to expect it to see significantly further downside in the days and weeks ahead They have also caused Bitcoin to break its former correlation with gold and begin, once again, moving in sync […]

2020-10-3 02:00


Фото:

Countdown to Block Reward Reduction – 18 Days Until Bitcoin Cash Halving

In 18 days, the Bitcoin Cash (BCH) network will see its next halving as the block reward will decrease from 12.5 to 6.25 coins on or around April 8, 2020. BCH will be the first blockchain out of the top three SHA256 networks to halve as BSV will see a reward reduction two days after […] The post Countdown to Block Reward Reduction – 18 Days Until Bitcoin Cash Halving appeared first on Bitcoin News.

2020-3-21 21:10


Crypto Tidbits: Bitcoin Plunges Under $9,000, Bitfinex and OKEx DDOS Attacks, Warren Buffett Bashes Cryptocurrency Again

Another week, another round of Crypto Tidbits. Wow, what a past seven days for Bitcoin, cryptocurrencies, and global markets overall. Bitcoin saw a blood-red week, to say the least, falling from $10,000 on Sunday to a low of ~$8,480 within a few days’ time as buyers failed to keep the asset above the key $9,500 support....

2020-3-1 02:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru