Quote from: justdimin on Today at 08:51:54 AM

Quote from: lixer on May 03, 2023, 02:48:03 PM

The month didn't start very well with Bitcoin price falling from $29k to $27k within two days and is still dropping in value by this time, this clearly shows that the correction is still stagnant and we can see lower prices this month. I was thinking that the least we might see will be $25k but from the look of the price right now, I think that's not going to be the case.

If it continues like this, the price will touch $20k in May and may rise back to $30k within the same month if there are huge buybacks and buying pressure when it touches lower areas, there will also be a lot of panic selling for sure.

It is above 29k right now, it was about 29k give or take, just a few hundred dollars drop is nothing, even 1k drop is nothing in crypto, that is a tiny amount. Price could change so much drastically and shouldn't really be something you should feel worried about. Just know that this is not going to make you rich suddenly, and not going to make you poor suddenly neither, it is just doing stagnant regular movements and that is the normal version of the market.

Sometimes there are volatile periods when it goes up a lot and during those days you could see bitcoin move 10% higher or 10% lower and that would be understandable, there is nothing that could change at the moment and it will continue to be a lot worse than that, its going to be a terrible period.

You need to assess very well to avoid making a mistake in placing your position,

I get the point where the market is getting volatile, which is common if you look back. The indication that the market will either will
pump or dump depends on the emotions of most traders around.

If you see a good amount of investors who are willing to buy and hold, believing that there's something good that will push the market
to rise up, then the direction will be on the bull side, but once there's a bad news or something that can bring fears, then expect that
the market will collapse.