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By now most have noticed that the whole crypto market has taken a bit of a slide in the last several hours. As events have unfolded, many on twitter have weighed in with either predictions or reminders that this is what crypto does. Fortunately, nobody seems too negative on the price shift.
It seems to be becoming a self fulfilling prophecy that every time CNBC speaks positively about crypto, something goes wrong. The following came just shortly before the price began to decline:
Bitcoin has seen a fierce rally this year and @AnthonyGriz says it could continue pic.twitter.com/OK0RKFmUB0
— CNBC Futures Now (@CNBCFuturesNow) June 4, 2019
Just three hours later, CNBC sent this out:
Bitcoin futures shedding about $1,000 today, down more than 11% pic.twitter.com/PwTFwOIipJ
— CNBC Futures Now (@CNBCFuturesNow) June 4, 2019
This led some to make jokes about how CNBC seems to never quite have their finger on the actual pulse of crypto, and instead is just chasing sensationalism:
CNBC tomorrow: "The Bitcoin ponzi it's over"
— Crypto Rand (@crypto_rand) June 4, 2019
Others seemed to support this idea, but also pointed out more seriously that we all need to stay calm during these types of corrections:
In 2019 Bitcoin was up over 150%. It has dropped ~15%.
— Luke Martin (@VentureCoinist) June 4, 2019
Important to keep things in perspective because there will probably be a flurry of @crypto @CNBCFastMoney and Nouriel stories about how Bitcoin is crashing again.
I cant believe bitcoin went down 15% after it went up 150%
— Moon Overlord (@MoonOverlord) June 4, 2019
im literally shaking right now
Others were responding with legitimate predictions about how far we will see this downside go. While predictions vary a bit, it seems that most believe we will find support above $7,100 at least:
I wouldn't expect this to straight dumpster, but it certainly could and you should be prepared in case it does.
— The Crypto Dog📈 (@TheCryptoDog) June 4, 2019
Along with everyone else on $Crypto Twitter, I'm eyeing ~7100 for strong support. pic.twitter.com/25EqbNqrNg
📈Ballsy prediction:$BTC bottoms out after this sellout from whale(s) and shorters at ~$7,600.
— Crypto Godfather (@CryptoGodfatha) June 4, 2019
Return to $8,500+ by Friday.
After analysis, I refuse to think one or two big cashouts is going to end this bull run.
Come Friday: I’ll either look like a genius or an idiot.
As of the time of this writing, it does seem the pice is holding just above about $7,600.
Are those on twitter right to not worry? Has this dip already just about played out? Stick right here with Chepicap for all updates on Bitcoin price action!