Bitcoin Forum

... Bitcoin just takes a run-up to pass the $1000

This could already happen during this weekend jump.

So relax, get some popcorn and beer and enjoy the ride ...

or try some beercorn

this is just a little shakeout , but who knows this can easily be a launching pad for so much higher prices. because always before a big rise there is a similar backtrack that acts as a spring that goes down before it is being released to jump.

I am surprised to see it happening just, expected it to happen when we hit 700.
Oh well, stay put and remember patience is a bliss.

there is indeed no point in worrying right now. if i was waiting to enter the market because i haven't bought any coins yet, then i would definitely use this price drop in my advantage to get myself a nice position in the market. buy when the price drops hard is a good rule to work with.

Are you guys looking at different price charts? It's down a bit. It's also gone insanely up a bit. There's gonna be plenty more of it.

I highly suapect we are back on the slippery alope again with anotger serious dump or two coming right up.

this is just a mini dump caused by shorts that are selling to gain profit and everything will back to normal again in no time.

whoever panics now will regret it later when he has to buy back bitcoin overpriced.

just bought $200 worth of btc few mins ago while the price down, best of luck to all of us ;D

Get a grip.

A mini dump, caused by longs taking profits, longs who have been long from way down. Also, many FOMO buyers who bought from $700 onwards would have gotten shaken out, or stopped out.

I always wonder about the intelligence of people who dump thousands of coins on the market and crash it by $50-100.
They could sell 10 at a time and be out in a few hours, with no one noticing, but instead they take a far lower price to get filled immediately.

Unless they are dumping, then immediately buyingback at a lower price, but as the price seems to bounce very quickly nowadays, it would be really dangerous!

I guess your are right with your last affirmation : They directly rebuy more at lower price after they dumped. Artificial dump is a way to make money for them.

A mini dump can cause panic not only who buyed at 700$ but also who are waiting to see the price rise to maximum and then sell coins. If price drop by $ 50 to $100 they will think its the time to sell and a panic selling will occur. So we have to be very careful with our buying and selling bitcoins from now on.

At these prices a lot of people who bought in the 2014 pump will be sending coins to the exchanges to finally cash out. It is only once all those people have cleared, that a fresh run up can start.

Yep..I know one of them...

He bought at $640....held right through 2015 with it's average price of $240....now that BTC has gotten back up to his buy in price, he is looking for some profits on the pump for all his troubles, which is why he never cashed out as soon as his buy-in targets were met......but as soon as the pump runs out of Steam, or some fundamental like some ETHDAO hacker having a big pile of crypto that he may or may not want to cash out via Bitcoin...then these exasperated bag holders of BTC, patience levels are likely to fold, and they are going to be increasingly more inclined to get out, whilst there are still profits on the table.

There is also an auction of confiscated Bitcoin happening on the 20th June, in Australia...around 25K BTC....I don't think it is an accident that Bitcoin pumps prior to these auction times.

i agree. this is not a crash but a mini dump because of the sudden rise.

but in order to continue up i think there should be a little longer time being spent here around $730-$740 and then rise up again.

so it is a good chance to buy at this price before the rise comes.

These dumps don't scare me at all. It's just normal market action as traders look to secure some of their profits. Nothing wrong with that. I am already enjoying the fact that my coins are constantly gaining value. I will enjoy it even more if the price touches $1000 again.

Don't even think about selling at the $1k psychwall, ppl. Hold your coins like me and grab a broom for when the ceiling becomes a floor

yeah, me neither. especially since i bought most of my coins at ~$170-$220 i don't even care if it goes to $700 or even stays here i have made so much profit so far that even it continues going down i will buy some more bitcoin :)

It will be amusing in the future to look back and see ppl fretting over whether the price was $100 or $900. It will all look the same

I hope halvening will pump the price up..This is just the beginning of the ride so there is no need to panic..The market price is just showing its fluctual nature..

I certainly hope so. I read that there are prediction about bitcoin - and expected value of 1 BTC in year 2027 is $300.000.
I know at this point is pure sci-fi speculation but I definitely would like that to happen.

although we can't say anything for certain about the future which is this far (11 years) but that is a little unrealistic price for bitcoin and i doubt if it is even possible.

It's just a little pit stop for the rally car to stop and fuel up before the next few laps and big push to go into new territory. We're holding strong at basically all levels that we decide to take a rest at so this is far from over. Just a quick break and then we'll be off to the races.

yeah, i like your simulation. this is the best comparisson that you could have made for bitcoin and the rise that we are seeing right now.
the whales are accumulating more bitcoin in this temporary dip for a while and then they are going to push the price to the moon again.

Haha. Alright. Who has profited from the quick drop and gain in the past 18 hours?

Instead of a price target, set yourself a time target.
I am not selling my bitcoins until 2020.
Who knows what the price will be then.  :D

i totally agree with this.
this is just a temporary thing. and especially with ethereum scam finally over and dying we can see a so much bigger rise when it starts.

I would not be so sure. There is a real chance that a "double top" (~780) is in the making. For this to happen, the price must go down to 700 or less. We are still no there, the price is still solidly above 740. But if a fall under 700 happens, I expect at least a major correction, if not a turning point.

Remember? In November 2013 we got a double top too in the 12xx USD range.

In any case I expect a new bullish market near the end of the year, if Segwit and the Lightning Network hold what they promise.

The resistance is holding strong within the 760 range. Need to breakthrough beyond 800 and I believe the price may soar. By end of June, perhaps?

that requires some balls to be buying now. The time for buying was last summer, or even March this year.

yeah i agree and i have bought it when it was low last year.

but you can't always be this lucky or aware of the future to invest like this and sometimes you have to accept the missed out opportunities and try to make the best out of a bad situation.

The dip is often in the range of 30+, but it would recover in less than half a day. It's extremely volatile right now and not for the faint hearted..

The price of BTC could change entirely and we would never know what is the stable price. Therefore having said that enjoy with the ride of BTC don't forget to fasten your seat belts.

It will of course pump the price up, but we will surely see a panic sell which happened in after that pump.
Many whales are ready with their stops to get out with huge profits, you guys don't even know.

Even if it is $50 with the current prices it is a risky bet. Depends on your ability to swallow such a high risk. Personally, risk/reward is not that appealing to me any more.