Bitcoin Forum

I've been modestly short since shortly after halving, and getting weary of the long wait for expected retracement back to sub-$600. Anybody else in this boat?

In your opinion, approx how long will it take for btc to be back to $600 +-? Possible in months time or the value will be growing back?

Well, I thought it would have retraced by now ... in fact it did fall dramatically with the DAO debacle (was that before or after halving?), so I've been expecting a retracement to $550 level would be easy. Timeframe I cannot predict with any precision. My bet is that almost nobody is prepared to push the price higher from here, but any bad news, or even the absence of good news, will see the price fall to levels much closer to those seen pre-halving.

I've sold ~90% of my coin, and taken a further ~30% short position, but of course my intent to buy my coins back, and more, at a much lower price.

Where is the bad news when you need it? Lol ...

nothing is certain but i bet your bet is wrong.
the daily volumes are still high and it shows the accumulation that is taking place, and if there wasn't enough power to push it up price would have already declined. but we can see that it has stayed up $640+ so far.

Hahaha well, it's will not happen in this time, I'm in that boat. but it's impossible for a now retracement back to sub -$600 in this time. Well, a lot of people is waiting for the moment if will be back into -$600 and a many of them is realize it's will not happen for a next few period.

I think you are alone on this boat or with very few people in it. Why the price should go sub 600 in the first place ? There's no reason for such thing especially now that S9 Antminers are coming into the market which will add the price up as bitcoin mining will be profitable in the few months post the production of S9 Antminers. I am in a new boat. The one with 800+ price after the few months where S9 Antminers will be profitable and the volume will be high in the trading. In fact it already is.

i dont think we see a sub 600 any time soon, but then again i always keep some spare fiat to buy on a sub, but im not touching my coins yet.
I also waiting S9 & Avalon to come in play, leave your coins in peace and get some hands on with alts

Yes, since the last couple of weeks prices are around 640$ to 690$ range and volume also quite good. So what I think is prices may not fall back to $550 level but maybe it can reach around $600. I also sold most of my coins above $680 and waiting for an opportunity to start accumulating slowly again.

I have actually been avoiding trading Bitcoin after the halving since it didn't go as I expected and it is very hard to predict. I have been trading either altcoins or cfds and both have been profitable for me. I may never even go back to Bitcoin trading.

I have also not been trading after the block halving was completed.

Mainly because of the fact that I knew that the market would calm down after all the volatility we have had in the weeks before the block halving.

It's not always party time where the market is full in action. At some point the market runs out of steam, which is exactly what has happened.

don't wait too long for sub $600 because chances of going down are diminishing quickly and you will be left behind.

although there is one possibility that a new wave of FUD hits the market and causes some crashes that may lead to a $590 ish price so you can have your wish come true but the possibility of that happening is not that much in my opinion.

after halving bitcoin will up althoug is now stagnant
is you save money is long or buy and hold
is short maybe is not savety because trend price bitcoin is now up

The price has dropped down to 650 and almost stable at such price. there are plenty of those who dumped but the rest also hold which is why it didn't go down to 500 yet.  In months maybe there will be more who will dump btc.

I don't think fast chips/mining helps btc price. Maybe some traders (like you) think any pending news must be positive and position accordingly. But once those products come out, miners just gonna dump their chips anyway ... ok, I stay short for the time being.

I don't think the halving will have any affect on the price actually

The halving has resulted in the price being double of what it was last year when the speculation around the block halving was getting fired up. It basically means; 50% less block rewards, 100% price increase. In that way there is not much that we can expect from it anymore.

Ok Bitfinex just crashed (again). Hopefully it is really bad (lol, my short position is on Bifinex!) and I can exit my short and go long again. Woohoo!

My man, you are playing with fire if you're shorting bitcoin.  I would not have the cojones to do that, especially not in the bull market we're having.  You've obviously seen how bitcoin behaves--we could easily jump to $1000 tomorrow, or higher.  Your losses could be unlimited with shorting.  Ick.  Not doing that.

Actually no, your losses cannot be unlimited when selling short bitcoin. Now with equities you can have a negative balance in your trading account and your broker could come after you, so in that instance you could lose more than you deposited into your account. You could lose your home, etc. etc. ... your entire networth, in theory. With Bitcoin on the other hand, I could get stopped out and lose my entire balance, but the exchange can't come after me for anything more than that. If the market leaps in the blink of an eye, the exchange will either eat any loss, or they will socialize the excess losses, as we've seen so many times.

Anyway, opportunistic shorting is profitable exactly because beliefs like yours are so widely held. Time will tell ...

after halving just losing not any earnings. :-[ :-[

Gambling is never a good thing, good luck but it may just as much shoot up to 800 after this long side ways movement. just HODL and be patient

The rise to 800 may happen on the last 2 months of this year or maybe even not. so while you can use the amount of BTC you have for greater purpose than just storing it somewhere, use them to earn more. maybe buying another coin where the market fluctuates much.

I am still in this boat, and wait for prices to rise. I'm not going to throw away. because I am sure, there will be the effect of halving the next few months.

you are making a dangerous bet my friend. because there is no reason for miners to change anything or even dump anything and you also have no proof or reason for saying that, which makes what you are doing a gamble.

Well, all of my BTC was accumulated from 'gambling,' so where does that leave me?!? Parlay up!

BOOM! Drop the mic ...

Haha, I closed my short last week to bet on Hillary winning the election. Anyway ...