Post
Topic
Board Bitcoin Discussion
Re: Bitcoin slides below $59k
by
Casdinyard
on 05/08/2024, 16:13:35 UTC

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.
Pretty much the same thing they said when bitcoin dramatically dropped to $10k back in 2020, and we know what happened back then.

The thing is that at this point a lot of us here stopped rationalizing why bitcoin rises, we just know it would, and while we're looking for pegs and narratives which the bull season is going to bolster itself upon it's pretty much on the general side of things and is not connected to bitcoin anymore. Bitcoin increases in price and value when the people who support it believes it would pump as well. But don't mistake it for a ponzi scheme or whatever.

Also hate these fearmongering tactics made by the main media against crypto, matter of fact bitcoin's been constantly correcting itself for a while now, and a lot of speculations surrounding bitcoin dropping to 50k has been made in the past few months, now that it fell according to predictions they start shaking the stories up? That's just weird.