Bitcoin Drops Below $30,000 for First Time Since January

rpm

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Bitcoin Drops Below $30,000 for First Time Since January

Bitcoin’s decline amid a crypto crackdown from China has pushed it below $30,000 for the first time since January, nearly pulverizing its entire 2021 gain.

The original cryptocurrency has lost more than 50% from its mid-April high of almost $65,000, leaving it up marginally for the year. That compares with a 12% gain for the S&P 500 since the end of December. The coin started 2021 trading around $29,000 following a fourfold increase in 2020.
 

Bryn

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Does this mean we should buy like crazy? What do the resident crypto wizards think about this?
 

Unreal

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Does this mean we should buy like crazy? What do the resident crypto wizards think about this?
I’m just watching to see when it stops falling, then I’ll buy again. I may have waited too long before selling, but now that’s is on a free fall, no one really knows when that’ll stop.

When it rebounds amidst the Chinese crackdown, then it’s time to buy.
Just make sure it’s in a proper rebound first. You might not get it at the cheapest price, but at least you’ll have some confidence that it’s going up. With Bitcoin the catch phrase is: don’t be greedy
 

Zyzzyva

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Does this mean we should buy like crazy? What do the resident crypto wizards think about this?
There is very little support between 30K and 20K. So there is a very good chance it could run down to 20K quite quickly if it stays below 30K.
 

Bryn

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I’m just watching to see when it stops falling, then I’ll buy again. I may have waited too long before selling, but now that’s is on a free fall, no one really knows when that’ll stop.

When it rebounds amidst the Chinese crackdown, then it’s time to buy.
Just make sure it’s in a proper rebound first. You might not get it at the cheapest price, but at least you’ll have some confidence that it’s going up. With Bitcoin the catch phrase is: don’t be greedy
There is very little support between 30K and 20K. So there is a very good chance it could run down to 20K quite quickly if it stays below 30K.
Seems weird that the market would be so reactive when Elon controls the value of BTC via his Twitter account and considering that Tesla bought $1.5bn BTC. You'd think it's the safest investment you could ever make.
 

Sapphiron

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The thing about the bitcoiners, is they are opportunists and they are increasingly flexible.

Before you know it, Thailand (random name pick) decides they can make a lot of money by becoming the new home of bitcoin mining.

3 weeks later all the miners are resetup and its business as usual
 

e4et

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Good, now we may finally get some hardware at MSRP pricing.
 
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