There’s some serious resistance in the market right now, definitely causing this pullback. Even Ethereum is feeling it, dropping to around $2.8k while Bitcoin dipped to the $97k mark. Do you guys think we’re in for more dips this month? I mean, February hasn’t been that terrible historically, right?
How Long Will This Bitcoin Dip Last?
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shard_2013Full Member
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#2Dec 29, 2023, 09:06 AM
Nah, I don’t think it’s just resistance causing this. Trump’s recent tariff hikes on imports from China, Canada, and Mexico are the real culprits here. If he wasn’t involved in crypto, I doubt we’d see this drop.
Honestly, ETH is on a downward spiral and it doesn’t look good for it.
I keep telling myself we'll see a pullback since we're in a bull run, but with the tariff mess, it’s not just crypto suffering. Trump’s actions pushed Bitcoin to $100k last year, and now it feels like he’s dragging it back down below $90k again. What a wild ride. Those red candles on the charts are brutal, especially for newbies.
kevin_atlasFull Member
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#5Dec 30, 2023, 11:07 AM
This pullback feels pretty solid, and it might keep going. If BTC can’t bounce back to $94.6k by today’s end, it’s likely we’ll see it test those lows around $90k again. A strong sell-off could even take us back towards that 200-day average near $75k, which I doubt will happen just yet. But who knows, we could see a fake-out and snap back up.
I think the resistance is driven by speculation that Bitcoin might have hit its ATH already. We might need another bull market to see fresh highs again. But honestly, I’m not totally sure about that, just what the charts suggest.
It really depends on regulations and geopolitics. Bitcoin holding above $100k for a while is good, but remember how it dumped to $49k before breaking that major resistance? Same could happen again, but it’s uncertain. Only positive news can shift the momentum, and altcoins are looking rough right now. I’m waiting for BTC dominance to show bearish signs before jumping back into altcoins.
Not sure how much lower Bitcoin can go. I didn’t think it would drop below $100k, but here we are at $93k. For anyone with spare cash, now’s a good time to buy. We could make some serious profit when it hits new ATH later this year.
I sometimes wonder what people expect from Bitcoin. We know how volatile it can be. Why panic when there’s a dip? It seems like everyone expects Bitcoin to just keep climbing endlessly. If that were the case, what happened to volatility?
History definitely influences trader sentiment. I feel like February might surprise us this time around. Maybe we’ll see some big investments coming in, pushing Bitcoin back toward $105k instead of down to $87k. There’s solid support around $90k, so let’s see if we can hold it.
stake_2017Newbie
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#11Jan 2, 2024, 05:50 AM
That shift to PoS was quite a bold move.
wildoracleMember
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#12Jan 2, 2024, 12:34 PM
Welcome to the rollercoaster that is Bitcoin pricing. Right now, BTC is trying to break $94k while ETH sits at $2,400. This downtrend might last a bit longer, so be cautious. We don’t know how February will pan out, but bad news could hit hard. But hey, it’s also a chance to buy Bitcoin at lower prices.
Nobody can really predict Bitcoin’s next move in the short term. Even the pros didn’t see this drop coming. While we wait for the market to recover, those with extra cash should consider buying the dip.
mike.degenMember
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#14Jan 4, 2024, 03:37 PM
It’s tough to say how long this dip will last. 24-hour low was $91k, but we bounced back to $95k. Altcoins are still struggling without their own bull run. If Bitcoin can hold $95k, it might be okay, but we’ll see.
Typically, dips caused by negative news last around 2-3 days until things settle. With Trump’s tariffs, I expect we might be stuck like this until the end of the week. Weekends tend to be slow, so maybe a week or two before things turn around.
I don’t think we’ll regain momentum over the weekend. The market’s reacting negatively to the news we’ve got right now.
As long as Bitcoin holds above $92k or $86k, we’re still in a decent spot. We’re at the bottom of a high level.
Does anyone have data on whether February has been bad for Bitcoin historically? The price is dipping now, and I have a feeling it might continue. The tariff news from Trump seems to be dragging the market down.
I’m not negative about Bitcoin’s situation. The price has held above $105k before, and maybe we’ll see higher than $108k soon. This dip could very well be linked to someone influential in the market, like Trump.
ape_diamondMember
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#20Jan 8, 2024, 05:40 AM
95k is surprising. Didn’t think it would dip below that. We were at 93k earlier, so who knows how low we might go? Thought the resistance would hold at 95k, but we bounced back pretty quick. I agree, February doesn’t seem too bad or too good for the market. Just reacting to Trump’s tariffs.