Bitcoin drop below $30,000 sparks fears of another crypto winter — here's why bulls aren't worried-To The Moon - Tiger Brokers Online Investing Community

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Bitcoin drop below $30,000 sparks fears of another crypto winter — here's why bulls aren't worried

CNBC2021-06-23

Bitcoin's brief drop below the symbolic price threshold of $30,000 on Tuesday has reignited talk of a crypto winter. It doesn't help that cryptocurrencies like dogecoin, XRP and others saw sharp drops...

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rhmnjfr
·2021-06-23
Crypto will keep falling for a while.
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Moonlight10
·2021-06-23
Hello
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2
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- Moonlight10:
  Hello
  2021-08-01
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Orez13
·2021-06-23
Will grow continually
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Jacklai
·2021-06-23
Yay
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kevinlaisq
·2021-06-23
Should drop more
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JaneChua
·2021-06-23
Drop more!
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2
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Kikiooi
·2021-06-23
Yes. Correction give opportunity
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- kevinlaisq:
  yes
  2021-06-23
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Huatkor
·2021-06-23
Good job China. I want my high end graphics card and cryptominers are preventing us from laying our hands on one at a reasonable price.
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ongyiren
·2021-06-23
T
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Machine23
·2021-06-23
Comment and like ... Thank u
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- EMforever:
  done
  2021-06-23
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Ellelley
·2021-06-23
Great
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GekChye
·2021-06-23
Be patient and wait for the bull to charge up the next leg.
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JoanY
·2021-06-23
Sad
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1
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JOSEPHCHAN07
·2021-06-23
Waiting for reversal boomz!
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- jaswsf:
  Yes waiting for it
  2021-06-23
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ivy888
·2021-06-23
Please comment
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- JOSEPHCHAN07:
  Bumped
  2021-06-23
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Ling_5360
·2021-06-23
Yeah
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- ivy888:
  done
  2021-06-23
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Ling_5360
·2021-06-23
Yeah
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Benlaps
·2021-06-23
Risky
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sq26
·2021-06-23
Still headed for highs in the future
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JackyK
·2021-06-23
Oh no
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It doesn't help that cryptocurrencies like dogecoin, XRP and others saw sharp drops...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/bitcoin-drop-below-30000-sparks-fears-of-another-crypto-winter.html\">Source Link</a>\n\n</div>\n","source":"cnbc_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin drop below $30,000 sparks fears of another crypto winter — here's why bulls aren't worried</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin drop below $30,000 sparks fears of another crypto winter — here's why bulls aren't worried\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 09:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/22/bitcoin-drop-below-30000-sparks-fears-of-another-crypto-winter.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin's brief drop below the symbolic price threshold of $30,000 on Tuesday has reignited talk of a crypto winter. It doesn't help that cryptocurrencies like dogecoin, XRP and others saw sharp drops...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/bitcoin-drop-below-30000-sparks-fears-of-another-crypto-winter.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GBTC","symbol_name":"Grayscale Bitcoin Trust","start_time":0,"source_url":"https://www.cnbc.com/2021/06/22/bitcoin-drop-below-30000-sparks-fears-of-another-crypto-winter.html","article_id":"1164759713","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/06/22/bitcoin-drop-below-30000-sparks-fears-of-another-crypto-winter.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1164759713","pubTimestamp":1624410080,"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"Bitcoin's brief drop below the symbolic price threshold of $30,000 on Tuesday has reignited talk of ","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"translate_title":"比特币跌破3万美元引发对另一个数字货币寒冬的担忧--以下是多头不担心的原因","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GBTC":0.9},"content_text":"Bitcoin's brief drop below the symbolic price threshold of $30,000 on Tuesday has reignited talk of a crypto winter. It doesn't help that cryptocurrencies like dogecoin, XRP and others saw sharp drops in the last 24 hours.\nBut experts tell CNBC that bitcoin's fundamentals are good, and the market conditions in 2021 are very different than the last big crypto crash in 2018.\n\"We are far from a bear market, only traders are freaking out over technicals seen on exchanges like volumes and price action,\" said popular on-chain analyst and statistician Willy Woo.\nWhat's happening to bitcoin\nBitcoin's rise in the last 12 months has had a lot to do with the billionaires and corporations that are buying bitcoin in big amounts. The surge in interest from mainstream financial players has not only reformed bitcoin's image but has also fomented a supply shortage, which helped drive up the price of the token.\nBut since the price of bitcoinpeaked over $63,000in April,the last few months have been rough for the world's biggest cryptocurrency.\nChina's countrywide crackdown on the nation's bitcoin miners certainly isn't helping.\n\"Recent news on the China mining shutdown is very reminiscent of China every few years. They've banned banks from using bitcoin, but this is actually different. I've never seen an exodus like this before,\" said Darin Feinstein, founder of Blockcap, one of the largest bitcoin mining operators in North America.\nMore than half the world's bitcoin miners are in China, and Beijing has made it clear that it wants them out.In May, the government called fora severe crackdown onbitcoinmining and trading, setting off what's been dubbed \"the great mining migration.\"\n\"Much of this downward momentum in bitcoin's price has been ascribed to China's latest moves with mining that have led to a lower global hashrate,\" said Jason Deane, an analyst at Quantum Economics, which specializes in research and analysis on financial markets and cryptocurrency.\n\"While long-term bitcoiners view this as an extremely positive move for the network ... short-term traders are spooked by uncertainty.\"\nAt present, theFear and Greed Indexshows a reading of 10, indicating \"extreme fear.\"\n\"Markets are often driven by momentum which can sometimes overwhelm fundamentals and the current sentiment seems to reflect that this is what we're seeing here,\" said Deane.\n2021 vs. 2018\nBut Deane and others think it is unlikely to be the start of a so-called crypto winter. Instead, they predict we are headed for a period of overreaction that will correct itself in due course.\n\"We may never see another crypto winter again,\" said Mati Greenspan, portfolio manager and Quantum Economics founder. \"There's a lot more utility, adoption, and diversification in the industry than we had in 2014 or 2018.\"\nBitcoin bulls insist the underlying fundamentals of bitcoin are much stronger in 2021, than they were during its last bear market in 2018.\n\"It's the bitcoin blockchain's more than a decade of unblemished security, bitcoin's breadth of utility, and the level of adoption that establish bitcoin's intrinsic value,\" said Alyse Killeen, founder and managing partner of bitcoin-focused venture firm Stillmark.\nThat last point is particularly important -- bitcoin adoption is on a tear, creating a broader group of users who believe in the currency's value, which reinforces it.\n\"All the network fundamentals are bullish, most of all we are at all-time highs of new user growth,\" said Woo.\nBitcoin also recentlylocked its first major upgrade in four years, promising additional functionality, privacy and efficiency.\nShort term, bitcoin believers think crypto prices will stabilize at price levels that are still higher than previous plateaus.\n\"It definitely fits the pattern of crypto assets rising well above previous all time highs, then settling into a new normal for a few years to come while builders continue to innovate on the technology front,\" said Auston Bunsen, co-founder and CTO of QuikNode, which provides blockchain infrastructure to developers and companies.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":123279009,"gmtCreate":1624426938101,"gmtModify":1703836354715,"author":{"id":"3575552457926722","authorId":"3575552457926722","name":"rhmnjfr","avatar":"https://static.tigerbbs.com/c38827a746715f9db0eee24ada0d72b7","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Crypto will keep falling for a while.","listText":"Crypto will keep falling for a while.","text":"Crypto will keep falling for a while.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123279009","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123853403,"gmtCreate":1624417138502,"gmtModify":1703836044490,"author":{"id":"3573357249671764","authorId":"3573357249671764","name":"Moonlight10","avatar":"https://static.tigerbbs.com/a0b198d5f315294dab103e319e5fbcf6","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123853403","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5394173,"gmtCreate":1627806865396,"gmtModify":1663231785647,"authorId":3573357249671764,"author":{"id":3573357249671764,"authorId":3573357249671764,"name":"Moonlight10","avatar":"https://static.tigerbbs.com/a0b198d5f315294dab103e319e5fbcf6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123853403,"type":1,"supId":0,"prevId":0,"content":"Hello","text":"Hello","html":"Hello"}],"langContent":"EN"},{"id":123815948,"gmtCreate":1624415462484,"gmtModify":1703835993939,"author":{"id":"3587042209039901","authorId":"3587042209039901","name":"Orez13","avatar":"https://static.tigerbbs.com/ea1ebf9ecffe0d0f5783daf8a548e87b","vip":1,"hat":"https://static.tigerbbs.com/7b75ce0c34afff716602792a5d0929dd","crmLevel":6,"crmLevelSwitch":1},"htmlText":"Will grow continually","listText":"Will grow continually","text":"Will grow continually","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123815948","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123818367,"gmtCreate":1624415366559,"gmtModify":1703835990506,"author":{"id":"3580549306933950","authorId":"3580549306933950","name":"Jacklai","avatar":"https://static.tigerbbs.com/3d93573a0bc9ecf813ab7073026aa07b","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123818367","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123839640,"gmtCreate":1624414897280,"gmtModify":1703835972584,"author":{"id":"3572874548548490","authorId":"3572874548548490","name":"kevinlaisq","avatar":"https://static.tigerbbs.com/329de1199f764a89b7cadf50308e183d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Should drop more","listText":"Should drop more","text":"Should drop more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123839640","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123896644,"gmtCreate":1624414667088,"gmtModify":1703835963787,"author":{"id":"3569298740045935","authorId":"3569298740045935","name":"JaneChua","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Drop more!&nbsp;","listText":"Drop more!&nbsp;","text":"Drop more!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123896644","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123177858,"gmtCreate":1624413998074,"gmtModify":1703835941624,"author":{"id":"3574639507377836","authorId":"3574639507377836","name":"Kikiooi","avatar":"https://static.tigerbbs.com/81135f833a61d8d0899dff1c77b07e72","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Yes. Correction give opportunity&nbsp;","listText":"Yes. Correction give opportunity&nbsp;","text":"Yes. Correction give opportunity","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123177858","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4967126,"gmtCreate":1624414907335,"gmtModify":1663229771535,"authorId":3572874548548490,"author":{"id":3572874548548490,"authorId":3572874548548490,"name":"kevinlaisq","avatar":"https://static.tigerbbs.com/329de1199f764a89b7cadf50308e183d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123177858,"type":1,"supId":0,"prevId":0,"content":"<u>yes</u>","text":"<u>yes</u>","html":"<u>yes</u>"}],"langContent":"EN"},{"id":123173900,"gmtCreate":1624413754200,"gmtModify":1703835930490,"author":{"id":"3581919183376534","authorId":"3581919183376534","name":"Huatkor","avatar":"https://static.tigerbbs.com/6f3897aace055b5fa9f58089c1e880d8","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Good job China.&nbsp;I want my high end graphics card and cryptominers are preventing us from laying our hands on one at a reasonable price.&nbsp;","listText":"Good job China.&nbsp;I want my high end graphics card and cryptominers are preventing us from laying our hands on one at a reasonable price.&nbsp;","text":"Good job China. I want my high end graphics card and cryptominers are preventing us from laying our hands on one at a reasonable price.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123173900","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123152254,"gmtCreate":1624413251778,"gmtModify":1703835909153,"author":{"id":"3581578814224856","authorId":"3581578814224856","name":"ongyiren","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"T","listText":"T","text":"T","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123152254","repostId":1164759713,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123122762,"gmtCreate":1624412944156,"gmtModify":1703835894812,"author":{"id":"3574907279320575","authorId":"3574907279320575","name":"Machine23","avatar":"https://static.tigerbbs.com/4e7c812dbe184947690c36d45b6469be","vip":1,"crmLevel":6,"crmLevelSwitch":1},"htmlText":"Comment and like ... Thank u","listText":"Comment and like ... Thank u","text":"Comment and like ... Thank 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