Bitcoin Forum

Price dropped about 13% over two days and now is back to increasing or at least stabilizing around 380
 is this the new trend

it was expected , the 350 mark was rock solid, since the climb was very slow, up to 400

who was believing about sub 300 or even lower, was fooling himself, also there is the halving coming, no way that the price will fall so low anymore

It would be 400 soon, probably.

From the last drop the price was increased for 8% but today it went down a little bit as ~1%

Dont speak to early. Plenty of room to drop to $300 or below.

There is really only about 7 daily candles that show some support at the $350 range.
Real support is back at the $250 range and the amount of volume thats brought the price back up is minimal.

that is probably fake support, some of those walls appear and disappear at will, to manipualte the market

if those that control there the walls, see a dump incoming, they just remove them easily

Im not talking about buy walls. Im talking about historical price action support. Take a look on wisdom on bitstamp on the 1W time frame and you'll see what I mean.

This latest drop was only a bump in the road.  These are growing pains, nothing else.  Yes the price is going back up and is healthy where it is at.  To put it into perspective google the price back in July and August and we are way up from that.

could be yes or not but i expect bitcoin price will back to $400 above soon and stable in that price until next few months

Okay, now I know that this past week the volatility has been wild due to fanny pants crying and bailing on bitcoin, how long will those politics make impact on the market? Or am I thinking to general, as I saw that hearns exit seemed to start this month's frenzy

Let's see how long it takes to get back to our loved $450. The prices isn't going down anymore as it seems. I just hope there won't be another round of panic dumps that will push the price down again. We were sitting in a good flow and great sentiment, and 1 announcement from Mike Hearn is enough to lose precious ground that took us a good while to build up.

Don't worry. In a week or so the price will be the same as it was before.
Just too many people panic sold their coins. Which gave some of us some profit.
When there is blood in the streets, buy buy by!

I read up a little bit on why that guy bailed out, but I still don't understand why increasing the block size to allow for more transactions is such an issue? Sure it'll use more data but what other disadvantages would there even be?

I'm sure the price will go up again, it's just waiting for now. It's good for bitcoin to have come down after so long at around $400.
I think the price will go up again after a couple of weeks.

Ahem.  I recall that we were stuck at around $225 for what seemed like months not too long ago, so where we're at right now isn't so bad and I think the price will likely go higher.  The recent drop seems to be because of Mike Hearn's comments, but who really knows?

Looking at the market it looks like it is going to break $390 again, after pretty well rising during the entire day. So it looks like the price is recovering, but it will be a slow rise for now. Nothing major, no big jumps (or dumps) unless some popular service collapses or if there's a bunch of bad-mouthing Bitcoin.

Investor confidence seems to have been recovered, but we'll still have to see over the next week.

I honestly wouldnt mind seeing 300-350 again giving more of a chance to get more
before it rises before the halving.

I think will back to USD 400 soon, maybe within this week?

Price will start to pick up again in the next couple of days. We may reach $400 by mid of this week or sooner. Just hold on to your coins but if you don't have enough patience then sell it.

maybe next week

It is going to rise tomorrow as it is a start of the work week and the stock markets reopen on monday as it was a long and bitter weekend for the coin  :-[

Yeah, I think it would $400 soon or even more up to $450-$500. Halving is so close now and i think the bitcoin price will increase again soon. So yeah, price going back up.

Do you guys think its a good moment to buy btc for another Price increase?
Im new to the Bitcoinbuis and also wanted to had a nice moment to jump in ;9
Would be great to have  a good advice  over here ;)

regards

I really hope that it keeps going up. I don't want it to stop at $380 and that is pretty much what has happened. Not good.

Everyone hoping for it but the real fact is the value is not increasing, its just getting stabilized within the range of 360-380

Some good news is needed to raise the value again it appears.

yes definetely, you can clearly see that the little fake downtrend has stopped now, and the price is recover, it can be a dead cat of course, but since there is the halving, i'm not believing in any sub 300 anymore, actually not even 350

400 will be the new bottom soon, just need more buyers at that range to be rock solid

If you plan to hold your coins for the long term/mid-long term, then surely yes! Invest now and keep holding at least till we have completed the block halving. After that you can cash out to secure your profits or even decide to hold longer.

Short term investment is quite risky as right now anything can happen. We may go up to $400 levels and higher, but it can also come down to lower $360 and even $350 if the panic for some reason is comming back.

If I was you, I would just buy and hold.

It is only a very good sign which help to stop the "hysteria" of to many about the end of bitcoin after the problems of Cryptsy and firs of all, the wonderful (but absolutely not needed) writing of Mike Hearn about the weaknesses and the critic points of bitcoin and the blockchain. Needed some more time, according to me, to see and understand if everything above told is already story and that these signs are the real trend of the price of bitcoin. Anyhow can be told one thing for sure. Never before bitcoin has react and give signs of life so soon. This is another big good point of this story. Face the problems where are "kid" (like it is "him") is very difficult. And bitcoin has and are faced excellently this last one.

The price is very unpredictable currently. It might go up or down anytime soon but I strongly believe it will settle around $400 for a longer time

have the same strategy. hope it stays under 400$ until 25th atleast so i can buy some more when i get my payment from work :D , but with my luck i guess the price is going to surge right before and hit 500$ lol :P

i think its going back up for 450$ soon.

 ::)

I don't think will reach to 450 until March
but it is only my opinion ::)

could be could be - but i think in middle summer it will hit the 800$

It is going to take some time to take up the slack after what happened with Cryptsy and Mike Hearn. This was a double blow, equal to the MtGox backlash. The distribution of the coins is still small and the slightest bad news will have a significant impact on the price.

We would hope people who are invested in the short term into Bitcoin, would see through the BS publicized in the media and realize what really happened and then re-invest their old funds at a lower price. The constant attacks from all sides are definitely having a negative impact on the price. 

This was expected as the same scenario happened before after people stopping the panic selling, it would eventually get back and is on that road at the moment ($384 at the time of posting this) and in couple of past months, after the dump, the price used to always be higher that it previous was so I wouldn't be surprise if little by little it increases until it bypasses the highest value before the dump.

price will keep increasing slowly for upcoming bitcoin halving,I guess recent dump was because of cryptsy problem but its getting up again

In month we will reach level from last weeks. Up up up it's long term trend.

We are steady at 385. Honestly I don't expect much the coming week.
People are dissapointed of Mike Hearn and the price has to suffer.

If the price goes up to 420 again, that would be great. Else we should be patient.

price is down very fast. i don't think price increase as down.

If it was expected, why did you then recommend to me, that I market buy some Bitcoins at around the $450 mark, just a couple of weeks ago?

Is it the case that:

a) You are like a broken record?
b) You just spout of the same old shit regardless of circumstances?
or
c) All of the above?

=============================================

Major resistance is currently at ~$410. I would be fucking astounded if that support is taken out anytime soon, or at least before testing the bottom.

I suspect something like a test of 'the bottom', a breach of the 38.2$ retrace, but a fail around $410, a test and fail of the 'the bottom', and fall into the Monster Support zone around $310-$320 (the highs right through 2015, and big support zone in Nov 2015), which will be the real and final bottom.

https://www.tradingview.com/x/svmLH1rn/

no wait, you misunderstood, i said it was expected that the 350 was not breakable in the event of a crash, but none was saying that there was going to be a crash

and anyway 350 is the lowest point, 450 is still a good buy for long term, and i'm not here for day trading or bear market, only for medium long term

I also support the camp of these who claim that the support around $350 is pretty rock solid. I would be really surprised if it give off so easily. The same way we have the resistance above $400 ahead of us. That makes me think that we will stay a bit longer in the horizontal trend between $380 and $400 until we get the resolution. For now we don't have solid arguments to go in either way.

This is no different from the changes that occur every year with any currency and/or stock.  It is a standard drop after the holidays and the new year.  Yes, it will increase again.

of course, will go up again, but it seems to be slowly. but I am sure this weekend we can back rise to $400

There is both a Weekly and a Daily Pivot Point, right at $360!

Great long term support credentials right there!

However. Go back over history and try and show me one single time when BTC spot didn't overshoot or 'fake out' these 'support' points?

Chances are, we go lower than $360.

So for someone with 0 bitcoin wanting to get in for the long term; is now the time to buy?!

I would wait at least till low 300s before buying. Wait a few days for that price and see where the market is standing then.

Nope.

A lot of washing out here to be done. Mkt any going to be shooting off anytime soon.

In the long run, $360 (or $380 even) will no doubt prove a very good buy-in point.....but any doing so, may have to endure a bit of heat for a good while,

I agree that there are chances, slim but still there are chances, that we slip below $360. You are right saying that the price may overshot the support lines (as it usually does), but thinking about good entry point $360 is just fine. I wouldn't count on catching the bottom exactly. At the same time I think that we should hoover a bit more in the horizontal direction, before we got some stronger arguments to go either up or down. For now it seems that we will try to climb again  - let's see how we deal with $410, once we get there.

pfft...

looks like we might test $360 in the coming sessions.

I wouldn't be afraid of testing. First, it would help to bring the technical indicators to the point where you have signals for the end of correction (overbought territory). Second, I would welcome such a test as a good buying opportunity, if I was thinking about entering the market.

I see that bitcoin now is just stable above 350 dollars is not that great than 450 dollars.
Is still nice at least is not going to 200 dollars.

We will see what will happen after the halving I hope people won't panic.

I would defo be interested on buying a dip back down to $360 area...fucking good counter trend long that would be!

I dunno if you do TA, or if you do, what tools or methods you deploy, but man, that $410-$415 area is going to be such a brutal resistance area, that it will more likely than stop BTC right in it's tracks, before sending it right back the way it came. Whether the $360 'support' would hold on the 3rd time of asking would be another matter. I am not saying that it is going to happen, but I see no reason at all why Bitcoin couldn't test $310-$320, which is where the first line of real monster support for this market lies.....I imagine that down there, we would see equal measures of Retail Investor despair, combined with Wholesale Investor confidence, and that is what true bottoms are made off. Markets by thier very nature are designed to ensure that the majority always lose.

This is happening now :o It is at $390 this morning so it is looking like a steady growth today which is always a good sign for the rest of the week for it ;)

Oh yes the price is going back up, for sure. We've already hit $400 again.

If I were you I'd buy (which I have been doing for a while) while the price is still down a little, although it's recovered from the Mike Hearn and Cryptsy issues and is bound to rise or stay still.

Either way, we'll see the end of this downtrend very soon. With China's devaluation of their currency and the Chinese New Year which will end, the price is going to countinue rising as it did. Plus, we are all eagerly waiting for Bitcoin halving which will increase the price by a lot.

Just don't listen to people like kwuckduck - their pessimism and negativity are what helps the price go down - but it doesn't have to be that way.

I would be ok if the price would go back down to $200, I wouldn't mind the price going up either. Even though it's highly unlikely for bitcoin to drop to $200, it wouldn't be so bad.
Imagine the amount of people who would be buying bitcoin when it gets that low. The price would certainly go back up again because of that.

We will see about that I think we will just stable around this price and later we will see a increase.
Before halving I think we can reach at 500 dollars.

It seems to me it's been going up these last couple of hours.

I'm very excited to see this and how far bitcoin will rise in value.

i am more interested in what the sellers will do to the price right now. the price can't go up all the time without seeing traders secure profits and thus see the price go lower.

yes, I do TA, but I also like to connect it with some fundamentals. So it is a mixture of both.
To me, the fundamentals are neither positive nor negative for Bitcoin at the moment, therefore what is on the charts has more weight currently.
As for your comment, why not going all the way down to $310? I use Fibonacci retracements which work just fine for me, and one of them worked for the stop of the recent correction. Now we are back to your zone of $410, let's how the price behaves there. I would expect we stay for a while in a horizontal channel between $380 and $410, until there are some fundamental news which would help to break either up or down.