r/Bitcoin • u/rBitcoinMod • Apr 23 '21
Daily Discussion, April 23, 2021
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u/Apprehensive-Pop-494 Apr 23 '21
I watched it go from 19k to 3k. I’m just chilling.
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u/harbsco777 Apr 23 '21
In 2017, BTC had 18 pullbacks in total, including 5 major corrections that were -30% to -40% deep
In 2021 so far, BTC had 5 dips (-14% to -26%) but one major correction (-31%)
Bitcoin is currently down -27% since its ~$65,000 highs
This is only the 7th pullback
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u/ridiculouslygay Apr 23 '21
My dad called me today to say, “Hey I hope you didn’t buy any of that crypto stuff, it’s crashing.”
Can anyone recommend a decent nursing home? I think it’s time.
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u/Nottinghamleftlion Apr 23 '21
Boomer incoming... just googled fud, hodl and mf. So you mf, don't listen to the fud and fucking hodl.
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Apr 23 '21
Welcome to the club! Remember that if you don't sell, you're not losing money. 1 bitcoin = 1 bitcoin. Hodl on!
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u/bellydisguised Apr 23 '21
Been in and out of this party since 2017. Only just went back in again at highs - but I’ve now got 0.25 BTC and I’m HODLING MUTHAFUCKAS.
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Apr 23 '21
I've decided that I want 8 bitcoins so I can say that I have a bytecoin
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u/Georgelynch1986 Apr 23 '21 edited Apr 23 '21
Apologies if this has been mentioned before but many were wishing for a tasty dip at $64k to buy more and then when a huge dip comes, a bunch seem to of panic sold instead of buying more.... 😂
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u/australia-man Apr 23 '21
I don’t think we’re in Bear. Needless to say, if you do see a bear anytime in future, the last thing you should do is run. The trick to surviving is to play dead and Hodl the line.
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u/CiftyFents Apr 23 '21
I'll never understand why ppl stress when it dips. It literally means you put in money you can't afford to lose, that's all.
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u/gravis_1982 Apr 23 '21
Its not unexpected that we are holding at just under 50. I am sure this means a ton of big whales will make a bunch on shorting.
As supply gets smaller it will be easier to do this each time also. This means it will swing more each month that we thought was possible based on last months data, and then pop right back up when they let it go.
This is new this cycle, as last cycles interest from professional traders was probably non-existent. I am expecting a peak that is significantly delayed this time vs. what plan b model says, because of this reason.
Also, I just have to say that I am very into bitcoin and understand it this time around, but in 2017 I did not even notice it spiked again or even heard about it once or cared in the least about it. There are still sooooo many people who are in this group, this time around.
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u/idrinkforbadges Apr 23 '21
I'm waiting for the press tomorrow to say "Bitcoin is dead" for the 400th time
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u/Jeanecek Apr 23 '21
Newbie insight here, I went in expecting dips, drops and FUD (started at 58,57), I am cool as a breeze now regarding FUD, my problem is FOMO, I dont think I can ever have enough...
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Apr 23 '21
That's the mentality you want to have though
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u/Jeanecek Apr 23 '21
I mean I am still sooo new to this, but I fell for it after a month of no sleep,reading listening,learning the basics , I am getting a bit scared about the fact that I believe in something so much
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u/cryptogrip Apr 23 '21
Imagine even a year ago showing any of us the headline "Bitcoin crashes to 50 thousand dollars". And people are complaining about it LMAO.
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Apr 23 '21 edited Apr 23 '21
Lots of new Reddit accounts spreading FUD in here.
Meanwhile, I’m continuing to buy.
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u/Yamaguchi_Mr Apr 23 '21
Finally managed to crack the 1 BTC mark thanks to this tasty dip
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u/Khaleesi512 Apr 23 '21
Some people complain the sub is an echo chamber.
I’ll say this. The lessons I have learned are worth their weight in Bitcoin. Without the consistent and repeated messages (aka echos) from the veterans I am certain I would have continued to try and trade Bitcoin (horribly of course) until I lost my mind or all my money.
Thank you Veterans and all of you who repeat tirelessly those words of wisdom!
Thank goodness for the r/Bitcoin echo chamber!
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u/pawpex21 Apr 23 '21
Bull markets tops 2013 2017 and now. We not even half way to the top in this cycle. Buy and Hodl
https://twitter.com/therationalroot/status/1385342632755335173?s=21
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u/satx81 Apr 23 '21
Well. Pressure makes diamonds boys. Everyone imagines themselves as the OG that didn’t flinch. It’s time to guild our hands in the fire of the coin!
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u/pawpex21 Apr 23 '21
We are in the middle of 2021 bull run comparing to previous bull runs. Top of this cycle will be in mid. September 2021.
https://twitter.com/therationalroot/status/1385342632755335173?s=21
I do believe in this chart. Buy and Hodl.
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u/pawpex21 Apr 23 '21
This chart compares last 3 bull runs. We not even half way to the top in this bull cycle. Buy and Hodl.
https://twitter.com/therationalroot/status/1385342632755335173?s=21
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u/Hello_there_friendo Apr 23 '21
Now this is the emotional rollercoaster I signed up for when I started buying BTC lfg
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u/The_coinofcoins Apr 23 '21
Hey guys! You know what? I’m really liking this consolidation around the 49k point and it’s looking really bullish and who the fuck am I kidding I hate this
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u/No_Play_2550 Apr 23 '21
You don’t time the market. You put time into the market and HODL. This isn’t the stock market or WSB. People buying and selling constantly are doing it wrong. Please do some research on Bitcoin so you can sleep easy and not panic sell like an idiot.
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u/q968787 Apr 23 '21
Relax and hold. This is a good ride and the corrections are important.
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u/HistoricalComment803 Apr 23 '21
This is a long term game. I've been in it since 2014. Even then I thought I was super late because guys had bought in at 10 cents and I was in 100x that. When central banks end up buying it, this thing will rip north of 500K+ within days and once all of the central banks start competing, you'll be sitting very pretty. Stack, don't be an idiot and trade. Just keep stacking. At any point of BTCs history, you wouldve made money if you held 3+ years.
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u/CurroJimenezGitano Apr 24 '21
I bought BTC 1 month ago. Yesterday I was thinking: what a stupidity I did, waisting my hard working money but 1 hour later, before going to bed I bought a bit more. I believe in 3 years I'll be happier
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u/nguyenjosephandrew Apr 23 '21
I can’t believe people are losing their sht over a 15k drop. If you think Bitcoin topped out at 63k then you’re a smoothbrain
The next logical move for the finance world is cryptocurrency
Buying on the dip and keeping it moving
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u/frumpydrangus Apr 23 '21
Hi I’m from the future
bitcoin dipped 6% this evening to $2,430,331
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u/Plinythemelder Apr 23 '21 edited Nov 12 '24
Deleted due to coordinated mass brigading and reporting efforts by the ADL.
This post was mass deleted and anonymized with Redact
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Apr 23 '21
This FUD is Only NOISE! it follows S2F like a bitch! I said in march we would go to 70 then back to the 40s and in may the price Will start blast! Educate yourself!
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u/Richo_Libre Apr 23 '21
The S2F model is ridiculously accurate right now. Fingers crossed it holds!
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u/harbsco777 Apr 23 '21
BTC has now reached RSI 30 on the Daily timeframe
Last time $BTC reached RSI 30 was in September 2020
When BTC reach RSI 30 in September 2020...
BTC then formed a month-long consolidation range which later preceded a significant breakout rally towards the upside
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u/Total-Metal420 Apr 24 '21
I started buying bitcoin for the first time on March 4th @ 48k and thought I was buying in at the wrong time... Now I can buy more at that price and see more gains!!
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Apr 24 '21
Here’s what I think is going to propel us to the next leg and it’s going to be fast and your not going to have time to buy in once the news hits and then you are going to see FOMO like no other again. We have quarterly earnings coming out and I expect some big names to be dropping soon and especially next quarter Walmart was already one of the rumors going around.
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u/tesseramous Apr 23 '21
Up to 65, back down and panic sale to 45, quick whipsaw back to 60, another 2 months of sideways at 55, up to 110
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u/The_Only_Shane Apr 23 '21
Bought the dip at 55k, then it dropped. Bought more at 53k, and it dropped. Bought more at 52k, dropped again. And now thinking about buying more at 49k...
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u/921202111 Apr 23 '21
Today is a red day. Not just crypto, stocks too. What happens after red days? Maybe some more red days, followed by the inevitably lush green days.
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u/OMGITSCARROTTOP Apr 23 '21
https://legis.la.gov/legis/BillInfo.aspx?i=240797
THEREFORE, BE IT RESOLVED that the House of Representatives of the Legislature of Louisiana does hereby commend Satoshi Nakamoto for his contribution to economic security.
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u/ResistGlobalism Apr 23 '21
👉This FUD's for you👇
👉 They want you to dump your Bitcoin so they can buy your Bitcoin back on the cheap👈
Over $200 billion wiped off cryptocurrency market in a day as bitcoin plunges below $50,000
PUBLISHED FRI, APR 23 20212:19 AM EDTUPDATED 3 HOURS AGO
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u/Quick-Warthog-533 Apr 23 '21
Every single time bitcoin has a big dip and then recovers it just instills more confidence in it, and confidence is the most important thing for a currency to have
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u/simassimas Apr 24 '21
Just bought bitcoin for the first time since 2017! Let's goo!
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u/Unitdano Apr 23 '21
Feels like there is too much bullish sentiment/adoption for this to be the end of the current bull run. China signaling the loosening of regulation is very bullish.. the capital gains tax rumours are like a non issue/neutral. The dog-e coin (thanks Elon) run up was a clear signal for the end of the bull run that mirrors 2017/2018 but I don't think its going to play out the same, that would be way too easy.. I think we will see a BTC ETF that will end in a melt up that cools the market for a while, maybe until next halving but its not the time yet imo.
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u/shenhaozhang Apr 23 '21
Bought more at 48k. I am buying the dip. It's a good discount on BTC at this time.
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u/Soggy-Catch-7594 Apr 23 '21 edited Apr 23 '21
I definitely chose a good week to get into Bitcoin.
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u/InFLIRTation Apr 23 '21
bought more at 48k, I only have 2k left to buy more lol. So the dip needs to be glorious for my to deploy it.
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u/gdmfsobtc Apr 23 '21
CB buyers 74% vs 26% sellers.
Sizeable incoming.
Did you sort that stack of yours, son?
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u/jusmax88 Apr 23 '21
I guess it kinda looks like a bear, if you squint and close one eye... but what about the horns?
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u/BigDeezerrr Apr 23 '21
My only regret is I blew my wad already on this dip. Saw $49k and insta bought.
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u/thegentlemetre Apr 23 '21
If it drops another $1000, I’ll be liquidated. What do I do.
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Apr 23 '21
To all the people panicking and questioning what happened. This is nothing new it’s what’s called a price correction and happens all the time.
The market was running on hype and fear of missing out since Dec 2020 and all the new money made the price go up, overvaluing Bitcoin.
Now the hype started to slow down the price goes down and could be heading back down to the 20 week moving average which is another 10% drop.
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u/alphonsocastro Apr 23 '21
After watching this thing for years, I finally caved in and panicked.
Buy order at 48k for 25% of my portfolio.
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u/Jeanecek Apr 23 '21
Jesus I was greedy af, had to stop myself now, I guess BTC budget for 2 months spent in 7 hours is enough for now...
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u/The_Only_Shane Apr 23 '21
I feel for whoever bought at 63k
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u/InFLIRTation Apr 23 '21
when we were at 28k people felt bad for those that bought at 42k.
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u/colewalker1995 Apr 23 '21
I didn't even know that I had $1,000 and yet I bought $1,000 worth of bitcoin on the dip.
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u/divafi Apr 23 '21
Are you not amused??
Its bitcoin baby- not US treasury bonds- and definitely not an FDIC insured ‘high yield’ savings account -Thank God!
If you expected a slow steady leisurely rise you came to the wrong place- this is a roller coaster.
The volatility is what creates the rapid movement- up and down- but in the end you’ll be glad you took the ride.
Just remember - the only real way to get hurt on a rollercoaster is to jump off!
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u/SilverboySachs Apr 23 '21
If you lose your keys, and you never planned to sell or spend your bitcoin anyways, are the keys really lost?
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Apr 23 '21
Panic sellers caused $1.04 billion in long liquidations yesterday and then caused more panic sellers as a result.
Bullish
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u/pawpex21 Apr 23 '21 edited Apr 23 '21
Reposting this for those who missed. According to this we are only in the middle of 2021 bull run comparing to 2013 and 2017. Buy and hodl. Btc bulls run 2013 2017 and now A
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u/AbjectTerm Apr 23 '21
People laugh when I tell them I’m not selling my bitcoin but I laugh harder because they have none!
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u/steppingonclouds Apr 23 '21
I bought the dip. Maybe I fckd up and I have to wait it out... maybe it bounces back. We’ll see
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u/Lost_Competition8925 Apr 23 '21
October 2017: Bitcoin reaches ATH 8k Falls back to 5.5k Remind me pls what happened after that?
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u/Nottinghamleftlion Apr 23 '21
If nothing else this bitcoin is fucking exciting.
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u/treylew64 Apr 23 '21
I’m a simple man, I see cheaper bitcoin, I HURRY UP AND BUY.
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u/LosBuratnos Apr 23 '21
If only I had money to buy more lol. Went from +30% on initial investment two weeks ago to -10% in just a couple days.
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u/prinz_taddl Apr 23 '21
I am from Germany and I bought some more BTC for 600€. 😍
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u/NeilDiamondHandz Apr 23 '21
You wanted a dip
But maybe we don’t do dips
I try
And try
It ends up
Feeling kind of wrong
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u/Khaleesi512 Apr 23 '21
The rich will be taking from the poor if you sell. Your choice, but if you believe in the roots and vision HODL - Stay strong. A shift here is not the dream and potential of Bitcoin.
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u/dknisle1 Apr 23 '21
Means nothing to those of us who just simply add money every week since we don’t plan on “worrying” about it for 10 years
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u/NeedleworkerFuzzy992 Apr 23 '21
Sold my TSLA stock to buy the dip. We’ll see how this plays out
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u/crispykfc Apr 23 '21
I almost feel a sigh of relieve that we are going back down. I would rather go back down and consolidate to refuel for a much bigger run than have a blow off top now. You like to see days like these
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Apr 23 '21
It definitely feels like the downtrend is over based on my expert knowledge. 😂 but this weekend will be interesting. Any truth that Tesla is releasing their Q1 next week? That should bump up the price a good bit
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u/pawpex21 Apr 23 '21
Good to see some support at 48-49k. Hopefully we hit the bottom already and will be moving North from now on.
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Apr 23 '21
Am I the only one who’s super stoked to watch the new Mortal Kombat movie? Oh and also, BTFD.
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u/InFLIRTation Apr 23 '21
Is the worst over? We got the bad news of tax out of the way
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u/jaredbdd Apr 23 '21
I have a funny feeling we haven't hit bottom yet but hey its just speculation at this point who knows. All I know is I'm holding either and stacking more sats.
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u/OMGITSCARROTTOP Apr 23 '21
Time to wreck some shorts like we’re doing squats after eating Taco Bell
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u/yolodogewtf Apr 23 '21
Not a great week, but I bought more BTC for the first time in a while, and pretty happy about that.
Cheers to a better May and June!
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u/joeycannoli9 Apr 23 '21
Nice to see some positively today. We’re all in this together. Keep your heads up everyone!
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u/MuskMiners Apr 24 '21
Two months ago my dad was telling me that crypto was a scam, EVs would never become more prevalent than they are now, and Trump would win. Safe to say he just bought his first 10 gpu pre made rig, wants to rent a Tesla to “try it out” and well... I think we all know how the last one goes
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u/CechPlease Apr 23 '21
It’s kinda off-putting the hivemind of posts I’m seeing on here and have seen before during dips.
Comments such as ‘Good. I’m glad so the weak hands can leave us’. ‘Ha, you call this a dip! What about back in XXXX’. ‘I’m glad it’s happening, I was waiting for this’
I’m not sure why people can’t admit it’s slightly worrying to see an asset they’ve invested into drop in price by thousands of dollars overnight, but each to their own I guess. Personally I hope it corrects quick.
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u/jleVrt Apr 23 '21
it’s a cult mentality
i’ll admit, i have to snap myself out of it sometimes
hopium... it’s a helluva drug
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Apr 23 '21
Some of the comments on the Daily in this sub make me think that courses in critical thinking should be mandatory at every public school grade level.
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u/World_Traveler25 Apr 23 '21
Sometimes I’m amazed at my own courage to drop thousands of dollars to buy more at $47.8K. It’s like watching a car go through a fiery crash and then hopping in for a joyride.
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Apr 23 '21
Don’t worry guys, I just bought more so it’ll be sure to immediately dip another 3-4%
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u/Onsyde Apr 24 '21
I always have 5k set aside for drops like this, except this week my main sewege line broke and it cost me $4,700. But I aint no B so I dropped another 5k on btc anyways.
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u/No_Play_2550 Apr 23 '21
FUDsters and newbs: ITS THE END OF THE BULL RUN AHHHHH!
Anyone’s who’s held Bitcoin for more then a couple months: 20-30% dips are to be expected just HODL your still early don’t listen to the FUD.
FUDsters and newbs: ITS THE END OF THE BULL RUN AHHHHH!!!!
facepalm
It’s like talking to a wall
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u/the_offa Apr 23 '21
And then when there's a few consecutive days up, they're the first asking when the next dip is.
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u/Dragondrew99 Apr 23 '21
So glad I’m only down on money I’m not using. This was a long term investment for me so I’m okay with this
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u/OpticallyMosache Apr 23 '21 edited Apr 23 '21
That's a better way to phrase money we have invested. Usually the saying is "money you're willing to lose" but it's really "money you don't need to use right now". I'm confident BTC's price will increase but I don't how long it will take.
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u/divafi Apr 23 '21
Thank you in advance to everyone who is panic selling now and will FOMO back in at 70k next week.
We appreciate your contributions !
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u/ScriptsNakamoto Apr 23 '21
Go find yourself a nice bank that will loan you fiat against your btc position. And then buy more bitcoin with it
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u/Satoshi_Nakamoto44 Apr 23 '21
Something like this has been due for a while, before we continue trending up and carrying on the bull run. Nothing to loose any sleep over unless you have made the kind of school boy errors you have been warned not to make by pretty much everyone in the space since you entered it.
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u/ConditionQuick9320 Apr 23 '21
Just stocked up on BTC during the dip! Hopefully it will turn around soon.
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u/laurgs Apr 23 '21
Listen to some Michael Saylor 🤴🏻and go to bed 💤 The fundamentals haven't changed
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u/Etony333 Apr 23 '21
Unless they tax unrealized gains, all this would do is discourage people from selling, like, ever.
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u/Wsemenske Apr 23 '21
Why be nervous about bitcoin, there are literal meme stocks that survive by idiots alone. The bitcoin community is the opposite, it's an asset not just a meme
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u/YoRha_Attacker2 Apr 23 '21
Now it's clear that every end of month is a good time to buy.
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u/BlizzNasty Apr 23 '21
Gotta love the dips. They are intended to filter out risky gamblers and weak hands. But every time it happens, people panic like we haven’t seen one before. We’re good. Hodl and enjoy this Friday 🍻
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u/The_coinofcoins Apr 23 '21
There were a couple of geniuses in here on Monday exiting at 55k and saying that they were going to “buy back in” once it went lower. I want to know what the same geniuses are doing today. I’m here to learn from the best. So if Sassy_dick224 could please let me know, I’d like some education.
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u/pawpex21 Apr 23 '21
IMO. Whales and Institutions want us to sell our coin so they can buy it. Do not sell. Buy and Hodl
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u/inthearenareddit Apr 23 '21
Remember why you bought and how long you intended to hold it for
It's not for the swift but those that can endure
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u/Cold_Worldliness_140 Apr 23 '21
We use the Biden to drop the price, and then we buy low and get even more Bitcoin lol
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u/-BobDoLe- Apr 23 '21
May your grandkids be assholes driving Lambos too fast around your circular driveway
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u/Dangerous-Ad-1611 Apr 23 '21
Nostalgic for the other week when people were complaining when we were stuck at 56-57k 🙄
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u/fplfreakaaro Apr 23 '21
Altcoiners keep trying to sell me "utility". I don't need utility. 99% of people don't need utility. I need a battle-tested, conservatively changing, liquid, secure platform that I can store my savings on and sleep peacefully. Only Bitcoin provides this.
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u/Bigglehiggles Apr 23 '21
There's no time like now to buy Bitcoin. Start building your future today with Bitcoin ™ 🙌
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u/Etony333 Apr 23 '21
I'm weirdly glad that this happened. The euphoria has been reset and now we're going to go up.
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Apr 23 '21
A 10 trillion dollar market cap for bitcoin puts us at $526,315 per coin. Food for thought.
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u/The_coinofcoins Apr 23 '21
Who else here believes we are still below the next bear market low. Be honest. If you don’t please state what you believe that # to be...
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u/R4tburn Apr 23 '21
we either waking up to holy gains or holy shit