Post
Topic
Board Bitcoin Discussion
Re: Bitcoin slides below $59k
by
coolcoinz
on 05/08/2024, 17:47:34 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.

Did you buy this account?
It says you registered in April 2021 and in May 2021 bitcoin crashed 50% (60k-30k) and then it went back to a new all time high and right after that it crashed another 60% to $25k.

These things are normal, bitcoin is volatile. We haven't been in a real FOMO phase yet, but it's going to come. Maybe you'll have to wait until the end of 2025, but it will happen.   

There are a few things that I'm certain will keep happening in bitcoin as long as it exists.
There will be halvings
There will be bull and bear markets
There will be large corrections in every bull market
Each bull market will end with an overbought parabolic peak and each bear market will end with capitulation and depression.