Bitcoin Forum

Believe me, not.

Could be a little stormy in a couple of weeks. But we are in good shape general. Don't hesitate and buy now. We will reach target of 800-1300 as said here: https://bitcointalk.org/index.php?topic=1104545 By the way thanks for 70к views guys.


https://s10.postimg.org/yxo1dylih/Untitled.png

Nope. A brief 10-20 min period DOES NOT COUNT.

No, i don't think that Bitcoin will drop again to this price (200$), nowadays it's about 600$ and it's expected that the price will increase soon.

The recent dump was also not predicatable and also not a natural drop. It was panic shorting from weak traders and from some whales to buy back cheap bitcoin again on dip. We may not see such drop again and also this recent dump shows bitcoin already have strong buy support at 10-20% price drop.

of course the price is not going to be dropping the only way is up now

you said within a month in that trend, and clearly did not happen at all, so why it should happen now, when the price is still recovering from that hack?

a consolidation toward the previous value will occur but it need some time, for people to acquire the lost confidence due to the hack

Personally i don't think that Bitcoin's price will repeat a big drop at least in the nearest future, after the last halving, we expect that Bitcoin price will going up

Well i don't know about a big drop but it certainly isn't going up.
With a possibly critical mass of users having been scammed out of 30% of their btc at bitfinex you can expect them to dump and never touch bitcoin again. Believe me, they are not going to recommend btc to anyone unless they hate them. It's just waiting now for everyone to get access again to their funds. So far i can't do anything on my account, just view it.

Yep...

Bitfinex was by far the leader USD exchange, and now it's toast, and has badly burned a huge volume of Bitcoin liquidity providers, who will take their funds, and leave at the earliest viable opportunity. Some may come back in the fullness of time, many won't ever be back, at least not until Bitcoin is dominated by regulated exchanges that are fully accountable and operate under reliable jurisdictions. Free market principles and decentralisation are all well and good, but when it comes to finance, greed is the predominant ethos and greed in an unregulated environment, is a monster that nobody wants have to operate alongside.

In the short term, I could see some good volatility as Finex reopens trading and withdrawals, and the exodus via BTC and USD begins, with a huge BTC price premium opening up on Bitfinex being likely as traders for whom USD withdrawal isn't an attractive proposition, fight tooth over nail to get what they have left, off the exchange before it collapses for good. In the long term however, this is needless to say, a huge blow to the Bitcoin ecosystem. To be a viable asset, Bitcoin needs liquid exchanges. There was no western focused exchange more liquid than Bitfinex, and as for the volume on Chinese exchanges, that of it which is actually genuine and/or not inspired by 0% trading fees, a big part of Bitcoin appeal for Chinese investors is Bitcoins easy convertability into USD...well, a big part of that convertabilty has just gone 'püff'.

How any position trader can possibly interpret this Bitfinex massacre as anything but emphatically bearish, is beyond me.

I will be one of those traders who will not be back to BTC. Got my account emptied on Kraken, Kraken gave me some sorries for your losses, my account is actually untouched on Bitfinex, and Bitfinex opt for the legally baffling decision to socialise all the losses. Tens of thousands of people who have been burned by Bitfinex, will be sitting right now wondering whatever the hell they were thinking off, having large amounts of money sitting on shadowy corrupt exchanges, answerable to know easily determinable authority and existing under no certain jurisdcition. Bitcoin has done nothing in the past 3 years, that plenty conventional stocks hasn't equaled, or bettered. Absolutely no reason why anyone looking to trade markets, needs to risk their capital in Bitcoin.

$500 is the break even price for the miners to keep on mining.

Bitcoin will likely be dipping down lower than that in due course. I shall be long gone by then, but shall be sure to get the popcorn out for the big Bitcoin miners crisis of 2017.......how much ya think Bitcoin will be worth if 36 hour delays on any transaction that doesn't stump up a a $10 fee to the miners become commonplace? (and lets face it, we have all sat sweating waiting for 3-4 hours for transactions to confirm already)

the price is definitely not going to drop, i think it should grow fast right now

It can happen again if there will be a reason, just like Bitfinex case, but if not, I don't think a big drop will occur. Maybe small drops, yes, and that's natural. As of now, I'm okay with the little by little increase in the price of Bitcoin.

So many people here don't think this bitfinex disaster - and it IS a disaster - will have a serious impact on near future bitcoin prices. The question is how could it not? Is this some serious denial in play or am I missing something?  ???

You are definitely missing something here chesthing. Perhaps it is because you just don't understand Bitcoin?

See, by far the biggest volume, most liquid USD Bitcoin exchange in the whole world, getting hacked, and then giving each and every one of it's customers a 36% haircut, regardless of what assets they were holding, and in total contravention to the laws of every jurisdiction on the face of the planet, is actually bullish for Bitcoin.

This is exactly the sort of fundamental event that is going to have hedge fund managers fighting tooth and nail to get their clients money onto some ropey Bitcoin exchange run by a bunch of grubby little crooks. Also, this will have caught Joe Public's attention for sure, and we all know that Joe Public loves a good story to buy into, and throw his pension fund at.

....and see those thousands of rage posts on reddit, with people saying that once they get their funds out of Bitfinex, they are never going to touch Bitcoin ever again. All just posturing and bluffery. They just trying to get everyone else to sell them cheap coins.

I think it was a unique moment this year.

I have realized that the bitcoin price is so sensible to some factors that it would not be so unlikely to see an eventual drop towards ~$400, but I also think $800 seems a good target for this year.

I feel this is a huge face palm moment for crypto, much like the MtGox collapse - let's see where it goes, I'm watching (but not participating).

yeah it is a terrible thing to happen, when you see a big exchange with mad volumes get hacked.

but it is not a disaster, at least not as bad as you want to show it. people are trading 100-300K bitcoin everyday how can one 120K hack be a disaster for bitcoin price and this volume is without the 500K bitcoin that is being traded on Chinese exchanges alone.

It's this kind of unfbounded optimism you just can't find in any other investment scheme. The ads for mixers, dice, and binary options are just the icing on the cake.

I don't think it's a hack, I think it's yet another face-palm inside job disaster. Time will tell.

i don't see what my signature has to do with anything that i said!
but apart from that, are you trying to say that since a third party exchange service was hacked, now bitcoin is doomed?
and you do realize that this was not the first time an exchange was hacked and will not be the last.

i am not claiming to predict the future or say anything about the price in the future. i am talking with facts that has happened:
1) every day the trade volume is between 100K and 300K bitcoin and also Chinese exchanges have a lot more volume. OkCoin had 718K BTC volume now compare that with a one time 120KBTC hack
2) the disaster was a drop from $600 to $480 because of panic and also whales using this situation to dump more and this "disaster" lasted less than a day before price jumped back to $550 and slowly worked its way up to $580


ok, that's another story then.
that is the disaster of trusting a third party with your money and trusting their words when they say "our system is ultra secure". and has nothing to do with bitcoin price and the "wonderful big drop" that is the subject here :D

Poopy you are really gullible to believe this "hack" story, and this shit is heading down, short term at least.

Probably a tangential observation, again, the icing, not the cake proper!
I'm not trying anything, I said what I meant.
I am aware of what happened to the nominal (tp scrip) price of Bitcoin following the last hack of the USD reference exchange.

1) Funny thing about volume these days... it's mostly trade in shitcoins:
https://i.imgur.com/36fOXtq.png
These competitors... that aren't hobbled with 3.7 tps... are salivating at picking up the remains of Blockstream's failed experiment in economic central planning (to prevent war ofc!).
The fact that you repeatedly cite CNY volume as meaningful means our little chat now ends...

Short term it is definitely heading downwards, there's no doubt about that. The inside job or hack, whatever you want to believe it is, was definitely enough to move the markets downwards and now they are going to stay down for a little while. If the market does start going back up it'll go back up in a noticeable way, and probably more than a slow trickle over a period of time.

it is indeed funny how you are looking in the wrong place for comparing volume:
https://i.imgur.com/U3q2cV5.jpg

besides, you would be a fool to believe ethereum volume is real. it would be like Satoshi owning 10 million out of 15.8 mil current bitcoin and controlled the price like what Vitalik and his disciples are doing with ETH by owning nearly all the eth available.

Click that $88,091,000.... I dare you.

uh it's a fact, bitfinex was hacked, there was dump or at least panic dump(even if he did not dump anything he caused a panic sell)

if bitfinex "hacked itself" the point does not matter, this is what caused the price decline, there is no bear run...

Ridiculous argument.

How much of those Bitcoin traded are simply the same BTC going backwards and forwards, especially on the Chinese exchanges...

...this was 120K, take out of the major Bitcoin exchange's wallet, and in turn, thee major global Bitcoin exchange made sure every single one of it's customers took a hit for it. I have lost, 2-3 times what I made trading Bitcoin over the past 3-4 months. I shan't be touching BTC with a 10ft dogshit covered bargepole ever again and literally thousands of others will be feeling the same way.

The exchanges cannot be trusted. Simple as that, and having any significant amount of money on them is a game of Russian roullette, and all for what? For a financial asset that has been pounded into the ground by the performance of many conventional stocks this year, and last year, and the year before....etc...

you say this as if i was defending them, no those fu**ers stole my money too, i also lost my BTC.

i am saying it is not a "disaster" because most of all the hacker is not going to dump 120K in one place at one time. if the hackers wants to sell it then he will do it slowly and with smaller amounts that market never even feels it. besides they will not dump it publicly on an exchange, it will probably go down off sites.

That's probably true, it is really hard for something like this happen again. But that's crypto, a lot of things still may occur. However, lately we are seeing some significant resistance against another big drop. In such a scenario, it becomes risky to speculate to buy back later.

They are not dumb enough to dump those all coins  in a single transaction for sure they would took down exchange sites.  For me  its  still a disaster since it really affect the bitcoins price  dump a little bit. We cant  trully   trust  exchanging sites  since i have a suspicion that those hacked incident would have a possibility on inside job.

I do not want the Bitcoin to drop again because then all of my waiting has been somewhat for nothing. I only want the pirce to rise at the moment and after I have sold it can drop again.
Then I can buy more Bitcoin with the profit that I would make then.

I expect the price to continue trending up overall, however, if it does take a drastic nose dive down to $200 or whatever, I will happily buy as much as I can. Having been in for the long haul before, now and for the future, big dips are just opportunities to add on to my hodlings.

The devious hackers had probably sold huge amounts of bitcoins even before they stole them. Nowadays it is possible to trade on margin, you can sell bitcoins even if you don't have them. The price went vertically down on the eve of the theft, just two days before Bitfinex got hacked. For that reason alone, they didn't have to sell the stolen bitcoins at all. The hackers could use the spoil to cover their short positions which they had wisely opened right before the hack.

i am hopeful that it will never happen in future, hope that the price of bitcoin will remain stale and will not decrease any more, although there may be some correction in the price of bitcoin but we cannot consider it as a high drop,

I personally don't consider big drops "wonderful". While I appreciate buying opportunities, I'd rather see wonderful big rises.

That said, it seems to me that we've already had our big drops, from $32 to $2, from $266 to less than $60, from over $1100 to less than $200 and from $780 to less than $470 including the Finex hack.

Luckily, the big rises are bigger than the big drops.

While no one can predict the future price, I would hazard to guess that the next big drop won't happen until after we've set a new, substantially higher ATH. A drop back down to high triple digits would then be a "wonderful" big drop and buying opportunity.

We cannot of course predict the future but I think that it cannot drop a lot more these days, it can maybe drop a little bit but this would not be a problem we would get more buyers due to this.
Big drops are out of the eye sights if you are asking me.

The $780 to $470 hardly seems to be a big fall, in the larger scheme of things. Given the tepid price movements in the last few years, we seem to be due for ATH. Quantitative Easing has pushed most assets to the moon.... why not Bitcoin?

well its around 640 now and been here for around 12 hours. im not sure if its going to go any higher anytime soon. hopefully it doesnt drop below 600 again. anything around 630 is good enough for me.

no i do not think that any thing like that is going to happen, hope that bitcoin will continue its journey to increase will continue and hope that this time bitcoin is going to crsoo 1200 USD leve in flat movement.

yes and i am also hoping so that we will never see such a big drop in the price of bitcoin again, although there most be some downfall in the price but in a limit, and the market of bitcoin will never crash.

We may see small price correction as price is pumping quite hard last few days but for sure we will not see another big drop as there is no any news/event for it.

I think there will be some drop but not that big may be $100 to $150. This is what happened in the history of bitcoin always it dropped price when there was hack or some bad news about bitcoin. But see the drops are slowly decreasing, bitfenix hack should have brought bitcoin to more lower price. It didn't happen sine most bitcoiners are aware of what bitcoin hack is and which has only less effect on the price, Not many were in panic to sell bitcoins and get of it. Many were ready to buy with the low price(means more trust on bitcoins).

SO for a big drop we need some big negative news on bitcoin to make many users untrust bitcoin, I don't think its going to happen in anywhere near future. I expect that to happen after the block reward reduced to 3 BTC or so.

I do not know how many people will expect to drop from the present value. I want always bitcoin to be reach the good value in future days. As you we already got small bump 20$ from last week to now.

Bitcoin will not drop like last time.Bitcoin price is more or less stable from last few months.Some incidents like Bitfinex crisis do have an impact on bitcoin price, but its price will not fall that much as before.

Bitcoin will only 'repeat a wonderful big drop' if something catastrophic happens or if the price rises way too high, way too quick in an unsustainable way.

There is nothing to suggest a huge drop right now, the price is very solid.

I also do not think there will occur any droppings because its simply not possible, I think that if we talk about the droppings that there is a small chance it will happen.
The fact is that I also do not see it happen, I think that it will even more rise than drop right now.

no i never expect that there can be a big downfall in the market of bitcoin any more. and hope that this time the price of bitcoin is going in increase more and more and hope to reach to 1000 USD level may be more than that.

Yep, there seems to be a huge stack of buy orders at around $500. Right after the Bitfinex hack, the price plummeted below $500 for a moment. It might in fact have been just one big sell order filled at Btc-e and Bitstamp sweeping away bids down to $465, and then the price bounced back to $540 within 24 hours.

What i find strange is you ask 2 questions in 1 question? And then answer it, which is odd, but what about the other question? Does? Will?

Anyway the support at this moment is good. I don't expect the price to go back to under 550 or lower. The bitfinex hack showed us a new low and well we know it now. If a drop of 100 is big, then yes it can happen, but else don't count on it.

Back to the moon we go? Haha, exciting times.

Expect the unexpected because   bitcoins price is  unpredictable  and anytime would dip its price but  it would  not  fall to the  bottom but as we all know bitcoins price would recover up and  increase again its price. $1000 price is  somehow too far  away as of now on the  current price of bitcoin.

Yes the current price rally is really awesome to watch, hope price will be at some point around $700 to $800 again. Obviously this time is for big pump not for a big dump.

no we are not expecting any more such a big down fall in near future, as it is expecting that the price of bitcoin will hopeful to raise to high price in next few months. we are also not expecting any other bad issue like Bitfinex.

I agree that we won't be expecting any big drop on btc price soon or anywhere in the future.  All we can observe is the ever increasing value of bitcoin because of people getting to know it more and jumping on the bitcoin fever.  Many country has not yet fully tapped by bitcoin so if this country are reached by bitcoin enthusiast, more probably instead of big drop, price would be skyrocketed.

I would prefer that the bitcoin to be increase in a stable rate than a sudden spike and then a huge decrease...

Why does that lot of peopel think that the bitcoin is going to get that big i dont think he will rise allot after this becuase i know that other peopel always wanted to see the price
of the bitcoin at a hight like that.

I dont thnk that the bitcoin is going to drop that much you know lots of peopel think that the bitcoin is getting much lower as he is right now but wil he fall to the bottom i dont
think that would happen righ tnow.

i do not think so that bitcoin is going to fell down any more, i think response is very positive and this time the price can really reach to next high level very soon.

Well agrew for somethough's about this we can't really face some massive big dump if we can't experience some big problems like hacking of big exchngers or any establishments but if those bad incident won't be happen well i think we can still the taste the success of bitcoin since surely the price of this one will climb up for more and more adoptors or whales will gonna buy for personal stakes.

even the hack of a big exchange service is not enough reason for a price drop. well think about it, a third party random service on the internet was careless about their security so they were hacked. why should bitcoin price drop big?

this shows bitcoin market is filled with weak hands and also it is filled with so many opportunists that are looking for a chance to dump and buy back as fast as possible and as cheap as possible.

I dont think that allot of peopel will see the drop coming because i dont think there is coming a big drop maybe nearby the halving of the bitcoin than the
price will drop but we will never know till it happends.

you are a couple of months late. halving has come and gone and price has gone up a lot for it.
the next halving is also a couple of years too soon to even be considered :D


so far halving has caused a price rise and a big one for that matter. and logically it should cause a rise too (not a drop) based on the hype and the lower supply.

yes we are not expecting the price to be fell down any more as it is expecting that the price can this time cross the all time high level therefore no one is even thinking that the price can fell down any more.

do you all raelly think that the price of the bitcoin will drop that much i dont understand why everbodyt thinks that becaue the price of the bitcoin is
not going to drop you know!

I don't know why many are expecting for bitcoins drop even though the price of bitcoin now is increasing. Let's just be happy on what is happening with bitcoin.

Because if we are hoping for the increase of bitcoin then for sure we are going to harvest the fruits of our labor with bitcoin in the future.

And let's just stop thinking that bitcoins price will drop.

It will not happen anymore but if there are chance that some bitcoin wallet or exchange site will hack and then stole lot's of bitcoins then there are chance that they are going to sell that bitcoin and the reason why the bitcoin price will drop at prediction but hope not we are do care about price :)

People want bitcoin price to drop so they can buy bitcoin at low price and make profit when it rises again. The price right now is quite high so normally people can't buy much.

The price feels only high. If it will increase to $900, today's $650 will look really low. Unless there is an established trend already, it cannot be said in advance if the price is low or high at the moment because it all depends on the direction it is going to shoot. It may happen that the Bitcoin price will never touch the $600 mark again, and a lot of people are waiting in vain.

yes that is also right to say that some people really want to drop the price of bitcoin so that they can also get chance to buy bitcoin in lower price.

I do not want the price to drop as low as last  year. I am satisfied with the current price because I do not buy bitcoin. With what little bitcoin I earn from my signature campaign goes a lot when converted to fiat at the current rate. Maybe those traders who are stuck on their shorts want the price to drop, but I think most of us wanted the price to go even higher.

I dont think there is cominga big drop again becuase the bitcoin will last for ever some body sayd to me and i need to believe him and when tyhe price is going to drop that much i am going to sell any coin i have for sure!

I dont think that there is coming a big drop becuase lots of people are saying it but that does not mean that there is coming a big drop you know lots of people dont know
waht they say they dont know anything about th ebitcoin.

yes i also agree with you, i am also not expecting any further lost in the price of bitcoin hoe that this tie the price will really reach to 1000 USD and may be more, so there is very little chance of felling down the price of bitcoin in near future.

I don't know why there are people who are expecting for bitcoins drop. And there are some people who wants bitcoin to completely dead.

And base on what is happening today with bitcoin then it is really impossible for bitcoin to drop. But for its increase, it is very possible that bitcoin is going to keep on increasing.

I think from now on there will be no drop anymore, its just gonna rise more and more, the fact is also that the bitcoin is getting more stable everyday as you can see.
I think the market is also getting bigger and bigger so that is a good sign for the future.

We cant guarantee that there would be  no price drop anymore because we  cant really predict the future and   the  upcoming events  that would possibly affects  bitcoin price  but as we assumed as  of now  we would  hardly to see hard pumps and  dumps  because  bitcoins  price as of now  is somehow stable.

I dont think there is a big crash coming because there was a crash allong time ago and tha crash causes also not really big problems so why would the next crash cause allot
of problems i dont think so.

no we are not expecting it again. as you can see that the price of bitcoin is increasing continuously, and people are also expecting increase in its size, therefore therefore we even cannot thing about the decrease in its price.

I do not think that it will drop anytime soon because the bitcoin has a good future and it will not go lower due to that.
I even think it will go up from now.

It is already dropping now but drop that is not going to be in the long run, this drop is just normal. But I hope that price of bitcoin is not going to drop.

Instead that it is going to keep on rising as we all hoping for that increase and hopefully this is going to be possible to reach up to $800.

This is possible before the end of the year.

There's no comming big drop in bitcoin because bitcoin is getting stronger nowadays and if somebody drop the bitcoin price it just because of some wallet will going to be hacked. And i believe that bitcoin will be more expensive after the year 2016 and it will be more reliability to sell and to resell or buy bitcoins.

You are right as we  saw on the price of bitcoin it start again to  go down, we dont  know exactly on the  circumtances that might affect on the price but  one things for sure   it would surely bounces  back up and  traders  would  love to see  bitcoins price would go down  because  they would have the chance again to buy cheap bitcoins.

No there will not occur a big drop in the future maybe a small drop but that will be all, the bitcoin has a good future and it will not go down anymore than around the 600 dollar in my eyes.
I really hope the bitcoin will prove itself because it has a good future.

Nope. Price of bitcoin might drop a little and not big time. I agree also that bitcoin price will go higher in the future. If you're currently seeing a big drop in bitcoin just hold on first and wait for the right time till you get a great value for your bitcoins.

I think the only way we see a big drop now is if there is some new scam by an exchange or if there is a country that makes bitcoin illegal. Otherwise it should continue to make a gradual increase.

yes indeed but i don't want this will happen again, for now i only want to see that bitcoin price is increase with high than before so we can make good profit from selling our bitcoin.

No person does want bitcoin to fall again and I don't know why there are people who wants bitcoin to fall and back to its drop price.

Just don't think that bitcoin is going to fall again because the price is already happening and we are going to expect more in the future.

So let's just chill and wait for it.