Quote from: Coin_trader on Today at 01:34:12 PM

Quote from: rahmatrf331 on Today at 01:25:11 PM

Quote from: rhodelmabanal on Today at 09:19:09 AM

I saw Bitcoin drops 3k$ in a day and expert says that it is all because binance restricts access of Chinese users. more negative news in relation to China will drop the Bitcoin price down, but I think bitcoin will soon recover just like before, what was your opinion about this 3k$ dropped of btc price?.

The decrease in bitcoin from $58k to $55k is still considered natural and has no effect. The $3k drop is only a few percent and it happens every week. Bitcoin, including a volatile market, often fluctuates in market prices, so this is nothing to worry about.

I agree with some minor comment, A 3K$ change is indeed small price change but it happens when it hits 58K which is the wall that can't be break multiple times, This means that price failed to break that certain wall and we might experience retest, The problem is when bulls lose confidence and power, The current price is near ATH which means that traders are very sensitive on any sudden price movement. A single FUD or price reject might cause a panic sell off. Its better to keep watching and be prepared. Being over confident is always leads to a loss in trading.

This must be nothing big, just a part of price correction. But if it's really caused by some restrictions from China, i guess we don't have the control to make it stop. Bitcoin is highly volatile so its not really new to us if the current price drops 3%-5% a day because there are times too that bitcoin suddenly starts surging by 5%-7% in a single day. If you want to invest in long term in bitcoin, then you should not be affected with the sudden price drop in the market as market crash will always expected to happen.