Jump to content

Investors fear ‘crypto winter’ is coming as bitcoin falls 50% from record highs


Recommended Posts

image.png

image.png

image.png

As cryptocurrency investors reel from the sharp sell-off in bitcoin and other digital currencies, some fear the worst is yet to come.

Bitcoin, the world’s largest virtual currency, briefly plunged below $33,000 Monday to its lowest level since July. It’s since recovered back above the $36,000 mark, but is still down almost 50% from a record high of nearly $69,000 in November.

Meanwhile, the entire crypto market has shed more than $1 trillion in value since bitcoin’s all-time high, as top tokens such as ether and solana followed the No. 1 digital currency to trade sharply lower. Ether has more than halved in value since reaching its peak in November, while solana has suffered an even steeper decline, falling 65%.

That’s got some crypto investors talking about the possibility of a “crypto winter,” a phrase referring to historic bear markets in the young digital currency market’s history. The most recent such occurrence happened in late 2017 and early 2018, when bitcoin crashed as much as 80% from all-time highs. Full article on CNBC

image.png

Link to comment

Hi, 

This title WILL NOT CREATE a "crypto winter" as BTC has already bounced 10% from it's low - as you report AND is 20% higher than EOY 2020. Thats not a winter in my books - I know I am nothing, but my facts are true - all we have today is market VOLATILITY - and that is up 50% in a month - CRYPTO HODLers are firm.  Well that's my forecast - anyway I look forward to a hot June !!!  I can buy more at this bargain price - ATB DSB. Ps. However great Headline. Also my budget is ZERO LOL.

 

Link to comment
15 hours ago, David30b said:

BTC has already bounced 10% from it's low

Hi @David30b

Thanks for sharing. From the key points yes it has recovered and its investors talking about a possibility.

Bitcoin, Ethereum Technical Analysis: BTC Bounces Back After Monday’s Selloff

shutterstock_1897558246.jpg
Following Monday’s selloff, cryptocurrency markets mostly rebounded across the board, with bitcoin and ethereum prices rallying by as much as 10%. Overall the global crypto market cap was over 6% higher from yesterday’s session.


Bitcoin, which fell to an intraday low of $33,184.06 during yesterday’s session, was up close to 9% as of writing, hitting a high of $37,247.52 in the process.

After a false breakout from its support level of $34,170 to start the week, today’s move saw BTC/USD climb from this point, with some anticipating the potential for a rally towards resistance of $40,000.

Looking at the chart below, BTC bulls appear to have re-entered as many expected at this level, similar to July’s move, however with the RSI still oversold, many remain skeptical of a full scale bull run.

btcusd_2022-01-25_16-46-33_54f49-1024x60
BTC/USD – Daily Chart

Now that the short-term 10-day EMA (red) has somewhat eased its downward momentum, traders will be anticipating a potential reversal, as the chances of the upward cross gradually increase. One thing to consider is whether we are seeing long-term bitcoiners buying the dip.

 

MARKET UPDATES by Eliman Dambell, 25th Jan 2022. Bitcoin.com

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,098
    • Total Posts
      92,955
    • Total Members
      42,477
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    calwall77
    Joined 01/06/23 20:51
  • Posts

    • Look ahead to 2/6/23: US jobs; Baker Hughes rig count After the stronger than expected private payrolls number from ADP, risks would seem to be on the upside for the US non-farm jobs number on Friday.  Jeremy Naylor | Analyst, London | Publication date: Thursday 01 June 2023  IGTV’s Jeremy Naylor looks at USD/JPY as a potential trade. Outside of this watch Brent around the Baker Hughes rig count.            
    • What's the next move following the bank run that led to a rally in US stocks? The markets have been giving us hints on its coming trend, which markets are they? Deploying market psychology not only helps us to connect the dots in today’s complexity, it also gives us the simplicity to chart into the future. In this session, we have invited market veteran, Wong Kon How, to help you improve your trading literacy and successfully navigate the financial markets. Kon How will demonstrate how he understands today’s market complexity and seizes the coming opportunity with behavioral science.  
    • Charting the Markets: 1 June Dow and CAC40 stabilise while Nasdaq 100 edges down. EUR/USD, EUR/GBP and USD/CAD stabilise as US debt ceiling bill goes to Senate. And Brent, orange juice stabilise while copper advances as US debt ceiling bill gets signed. Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Thursday 01 June 2023               This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
×
×
  • Create New...