Bitcoin Forum

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

You must be new..

Not new enough to not see whats going on. The crash is coming and its coming very soon.

no pump is sustainable. at the same time no pump and subsequent fall is predictable either. why did you sell at such a huge psychological barrier? it's obvious it was gonna continue if it breached it.

No it was not. I figured it may hit 1030-1020 and crash back to 750 where it took of to redistribute. Makes sense, does it not?

You made a huge mistake by selling at $1000 lol

What kind of moron shorts this?

https://s3.amazonaws.com/tradingview/p/pNkkpSjx.png


You failed at life.

well, not really. this was something that's been in the works for over 3 years. it's fairly natural that there'd be some irrational exuberance once it was taken care of. it's been a long, slow burn too until very recently.

Ok, and what was the risk/reward on that trade? What was your plan if it kept going up like it's doing?

Why did you try to fight the trend?

Not only you, there are many panic sellers like you who have sold at $1000 and now regretting it. They just want a dump or correction to buy back but i doubt price will go below $1000 anytime soon. You may have to wait for few more months or even years to buy back below the price at which you have sold.

I am holding tight and riding this bull run  ;D ;D

Im still holding about 25% of what i had in total, so it was more like, take profit and lock it in to pay the bills and let the rest ride. If it went back down I would have bought back maybe 30% of what I sold.

Im starting to think you guys may be right and selling out may have been a big mistake but im still hoping to see 700 -800 again.

there's a good chance you'll be fine. kind of a shame to miss out on participating in all the fun though.

There is nothing wrong with sellig some coins to secure profits, but you have to make sure you never sell all your coins at once as you then miss out in case the price goes up further.

I have no doubt about getting back to $800s, but it might take a while before we see that become reality as current pump/rally has too much power to be pushed back that far.

Pump LOL, good one  ;D

shouldn't have been a pussy and sold, sorry for your loss

Bitcoin is at 1120$, wow! I am holding a couple of bitcoin and in half a year the value has doubled. I don't know if bitcoin will dump or pump more. I am clueless. Opinions please?

I don't really think of myself as a trader, but if I've learned anything with my occasional buying and selling of altcoins it is this: Always sell on the BACKSIDE of a spike.

You will miss the high point, but guess what? So does practically everyone else anyway. And at least you don't sell out too early and kick yourself all through the subsequent rise.

Long time holders are so weak, specially bitcoin holders... im sure a lot of people sold at $1000. "Oh wow, one thousand bitcoin!, this will surely dip". It's 1138 right now, that's 1138 of shorting losses, a lot of money lost for those that decided not to believe in bitcoin's strenght when rising.

And as you pointed out, it's simply impossible to predict when this ride will take a break. Sure, all pumps end up correcting, the question is, you can't know if it will be in $1000, the ATH, or $10000.

i dunno. if you'd been here since 2013 then you've probably hardened yourself and learnt an awful lot more. i can see those who bought in the 200-400s in the last year or two taking some profit but maybe not the real long termers.

After cracking a longstanding all time high, bitcoin has never done *less* than a 4500% run *from* the prior all time high. In this case, that'd be ~$5200.

Of course parabolic spikes are not sustainable. But their magnitude in bitcoin has been mind-blowing every time so far. Just look at a 6 year chart.

I am most concerned with some governments moving in and spoiling the rally ultimately forcing people to panic sell and crash the price further than a simple correction. Bitcoin is very fickle and can be swayed by the smallest sign of fear mongering.

Actually it is not pump .
This is natural thing . The main reason of increase price is the bulk buy of bitcoin by the China big trader .
The Chinese are making sell of bitcoin at price 77000INR while the actual price in the India is about 75000INR .
So here are more chances to jump from the price 1100$ ( near ) to 1200$ .

This price right now is probably not even the bottom, it can continue for a while yet.  Please look over the price history of previous moves. This might not actually be a "bubble" we need more action to confirm.

I'm really not sure if it is a pump this time.
I suspect it more to be a reaction on the global acceptance of more and more companies.
Of course, the last two weeks price went extremly high, and smaller drops can not be avoided.
Simply because some people want to withdrawl a bit of their profit.
But the huge crash some expect, I do not see it.

lol
You are limiting yourself with your language. There is merely an inflow of cash coming in, looking for protection.
I throw out the Technicals (in the end) when dealing with BTC.

Well what you're saying is a bit like the old "after rain the sunshine". Yes of course, after a pump you got a crash that's how it works ^^
But the interesting fact is that this drop whatever it is might not be so hard as you seem to believe. If you check the chart you'll see that the 1000$ support seems to hold rather nicely (at least last time I saw it). It's.... Surprising to the less, but it's holding. I also thought there would be a crash at the begining that's why I sold some funds after the 1000$ hit, but it seems I was wrong! No reason for it to go below now that people support it. Or at least not too far below. You can expect the 950$ and 900$ to be solid walls and I doubt it will go any further! And you'll see it back to above 1k in not time.
Of course all that I'm saying is just my guess... But halving had to be compensated by some kind of price rise, so you just see it here.

If that happens we are all getting rich. But how long do you suppose that could take?

A potential market correction would be perfectly possible right now, but that does not imply an eventual collapse in the price of bitcoin. I really think there are solid bases to expect that the price can be sustained at these levels (+$1,000), although we should never rule out any possible scenario in order to avoid overconfident decisions.

** Note: typo my quote above: 4500% should be 450%. Price target is right, though. **


Well, in 2011 it took about 8 weeks to ramp from around $1 to $32.
In Spring 2013, it took about 6 weeks to get to $266 after cracking the prior ATH of $32.
In Winter 2013, it took about 4 weeks to get to ~$1200 after cracking the prior ATH of $266.

So it happens fast. Most assets are escalator up, elevator down. Bitcoin is the opposite.

Usually with a Bitcoin pump, before the top beings to form, there is a brutal crash followed by a quick recovery. Can't say I have seen anything close to that yet......I reckon $1300 is incoming:

https://www.tradingview.com/x/o1V6Mh8Q/

Ultimately the market is to decide what is or isn't sustainable. Thus far it is, and it doesn't seem to want to stop. We have seen in the past hour or so, a correction that has went from the current 1139 high to 1077, and this has been yet another dip because we are back at 1130... everyone that is buying all those dips is making tons of money, and the people trying to short them are getting kicked out of the rocket trip, it's sad to see but all the noobs keep panic selling.

Well if you are just salty that you lost a few thousand dollars because you didn't buy in, then I really do not know what to say to you. Come on now, just because you didn't catch the pump earlier doesn't mean you have to spread FUD without basis on this forum.

As stupid as your claim may sound, the last part is quite true.

This is insane :D

He must have probably made money if he sold at $1000, but he could have made more if he waited for $1150.

Hopefully, you didn't sold bitcoin because it had reached $1000 at the time.
I ever did once and regret that, I won't sell any coin because the price but I will if I need money.
You must be so regret to see the price keep climbing and there's no decline peak.
The price persistent stable at $1000 and won't go lower imo, keep hold on tight on bitcoin rocket. We're going to the moon.

Lets be honest guys this is going to go crazy and we are only at the beginning.

Some big whales have got bitcoin in their sights.

Lets be clear, mkt cap of bitcoin is like $14BN..

All it would take is a few super rich persons to start getting interested in BTC for the price to be spiking like it is. 

We all know what the global political situation is like. There's a good reason for mega rich people to be buying bitcoin and something tells me that's what's going on.

So...... a price in the $10,000 - $20,000 is definitely reasonable. 

In the past the peaks have always been marked with wildly fluctuating prices. At this time we are not there yet.

Just using the word "pump" indicates cluelessness.

This isn't some stock market game. No individual group or person is "pumping" the price up to lure in suckers.

This is natural growth, a correction after prices being artificially low for almost 3 years.

"Pump and dump" is a fraudulent stock promotion scam, nothing to do with what is currently happening to Bitcoin.

I'll accept calling selling "dumping" because an investor can dump his holdings, but merely buying bitcoins doesn't constitute pumping.


? ? ? The weaklings are those who panic and waste their coins buying fiat.

They succumb to fiat FOMO. "OMG, if I don't buy fiat now, I'll miss out."

I am surprised and puzzled to see this high price too. I have no clue on how to make a decision if I should hold or sell the btc I have.But how are you guys not selling, isn't this the perfect price?

Lmao.  This price is nothing.  Wake me up at a 100bn market cap.

I'm selling... but only the bitcoins I buy for quick trades.  I've been pretty conservative and only made a few trades because I've been busy with the holidays, but my account is up 25% in BTC terms this month.  I don't have the balls to trade with more than a small percentage of my hodlings though.

and it will not till around a year later, because this kind of pump is possibly incessant, then a major dump until it is stable again. then a bubble is up, for higher.

The question now is when do we reach a new all time high. Predictions?

Well, I do not agree with this, because the pump price of bitcoin will continue up to the $ 1,600 price. I am sure with this, even I have set up some bitcoin for it. I think bitcoin price increase will happen at this time although the increase is happening so fast, maybe someday, bitcoin rise will slow down, and re-stabilized.

Today? Already?
I don't count mtgox high because it was already insolvent. bistamp high was 1155 or something.
GDAX is at $1158 right now.

Pumping the coin will not work always the more it pumps, soon it will fell down. But right now majority of the members are not all satisfied with pump because nobody don't know when it falls down.

i think you can sell you're bitcoin now because the price is now is more than $1000 and you can get a good profit with it. but if you already sell your bitcoin, then i think you only make small profit. but believe me, if there is a pump, then there is a dump too, just believe this and you can see that you are good to hold bitcoin and see the pump is happen again.

Idk man, I think you may being a little too optimistic. I agree that this is the kinda growth that bitcoin deserves, but I think it'd be foolish not to admit that the price is being deliberately pushed up. All the signs have been there for the entire year. It just took this long for FOMO to kick in.

Why do you think prices were artificially low for so long? It was being dumped. That's just how it works. They buy all the way up and they sell all the way down and they make fucking way more money than you and I can even imagine. I know it sounds counterintuitive, but I really don't feel like trying to explain it and I'm not even sure I could do so thoroughly. But game theory says this is what happens.

The misguided purists will cry "but we need less volatility for it to be a legitimate currency!" and to them I say, "fuck off!". This is how I make money, this is how they make money, and most of all... this is how bitcoin makes headlines, turns heads, and gets people on board. Even if the majority of them sell for a loss and get turned off forever. Honeybadger don't care... any publicity is good publicity. Embrace it.

Its harder to hodl than sell.

Look at the bitconers who bought in early and sold @32, @100 @266.

The mentality is 'it can't go higher than this, surely'.

Sometimes it can't, for a few years at least.

But it will correct at some stage - question is does the use case change for why you are in bitcoin?

As for China, take Vancouver real estate as an example. In 2014 people thought it was crazy and would stop soon because it was outside their grasp of the bigger geopolitical trends. Certainly outside of mine, but applying that lesson to bitcoin is a good thought experiment. China is so much bigger than you can comprehend.

But this baby is a snowball.

If you trade, beware the water is full of sharks looking to separate you from your coins.

It pays to have a long term perspective.

Have a plan.

Maybe sell to take out your initial investment then ride the rest, stress free?

the right time to sell is uncertain, you may get the rightest time or you will selling in regret when the price immediately rising after you just selling your bitcoin, just don't be regretful to what you have done
i do agree with tabnloz that holding is really hard, you will always worried if you late to sell your bitcoin at highest price and on the other hand you want to sell at its highest point of rate
as your question, yes it's the most perfect time to sell if you look at the past statistics and compare it to now

You can sleep for another 12 months.

Right now the decision needs to be made by you. The price movement is unpredictable, if someone says to hold and by the next day if price falls, then you can't tolerate. Same if the decision is made on your own, then you can console yourself. Make a research and make the final decision whether to sell or hold.

No it is not sustainable, nothing like this is. But I think we still have a quite a way to go up. (I hold very little BTC btw)

Don't waste time waiting and cash out a certain portion of your coins, these prices won't be sustainable for too long. It's a fantastic opportunity. I have cashed out a certain portion as well. I won't be risking having missed a great chance to secure profits at these levels. Ignore the feeling of greed if it makes you wait. If you cash out like 10-20% and save the other part of your coins, then you can still benefit if the price happens to increase further. That's how you should do it. If the price goes down sharp, then you can use the money from the coins you sold to buy back at lower prices. It's a win win situation.

If the price does not rise to $1200 in the next two weeks and consoidate here, then it is very sustainable.

As you can see we are correcting at the moment.
That is good! Let some guys take their profits and give others the chance to buy in.
Over the long run I also believe we will continue moving up.And therefore I don't care when we are breaking the ATH in USD.
Sooner or later it will happen and in all other major currencies we've already achieved that.

I think bitcoin is out of control, because it is really going too fast, I didn't thought, that bitcoin would be cross $1030 within month, and also i have sold my 4 bitcoins at $1000, and i thought, i done very well, but now, i think may be i do wrong.
But i have speculation, that bitcoin suddenly come back, and it will be good time to buy the bitcoins once again, and then hold it, as usual we are doing.

Need to pay for some cryogenic freezing for waking up at 100bn.

You didn't do specially good or bad. 1000$ is going to be the average price for some times.
In fact, unless I'm wrong ofc, every halving sees the price mulitplied by ten or something similar. At least the order of magnitude is this one. So for some times the price is going to be rather stable around 1k then is going up again. Of course in the middle of all that the price will fluctuate and probably drop a bit, but that's just a general measure. The real trend will be up simply because of how btc is designed and because new adopters are coming.
Though I don't believe in something like 2k in a month or two. That's a bit too much I'd say ^^

The textbook brutal correction is in. Over 20% wiped from the Chinese exchanges within 1 hour.

Burning question now, is whether 'they' power Bitcoin up for one final nosebleed rocket up, or whether she puts in a double top here.

Interesting to watch.

Not going to happen, can guarantee it. I don't think todays drop is the end of it though, think we have some more to go up before a crash.

I don't think there is some kind of dubious manipulation here.
Behind each drop or pump there isn't always some kind of powerful companies/miners making plans.
It's also just the market laws. Fact is that we reached a very high price, nearly the all times high price. So obviously people who holded bitcoin for a long time all wanted to take profit here. I was part of that and sold some even though I believe it will continue to rise. Simply because it's the best possible time to sell.
We won't go through the 1200 easily. It will take times, maybe years I don't know.
But I think the current position is stable, just because there is no reason for a huge drop.

Looks like the op was correct. I hope you shorted on your idea and made a fortune.

Yes, it is true that an obvious market correction was expected after that strong pump. But I don't think that unexpected rally was generated by ordinary market rules. I am really convinced that is was strongly manipulated so it would not be strange that the $1200 mark is reached in next days. I would prefer to stay away from any market decision these days.

Well done OP, pointing it out 2 days before the big down trend. Alot of people made fun of the OP  calling him  newb

we will see slow downtrend down to 750 or even 650 . We might see 500 USD again soon

for anyone who has traded fx this kind of brutal correction is just normal and expected

no doubt the same whales dumping on bitcoin are also trading the other fx pairs since the pattern of dumps is exactly the same.


by the way i was surprised the rally ended so quickly, was expecting it to go way past $2,000. makes me think whoever made the initial dump of $ 1150-900    is probably quite stupid to do it so early.  either that or something fishy is going on

Nanny nanny poopoo. I was right and most of you were wrong. I dont know how you guys thought that was sustainable but it clearly was not and I was right all along. Thank god I hdged my selling with some shorts and cleaned up on that dump.

Not time to redistribute and then march back up to all time highs.

500 seems a little low.
I wouldn't be surprised at a dip to the $750-800 range but losing 50% value seems a little drastic.

   Its like you said in headline, pump obviously is not sustainable. Insane or not its what we have, with bitcoin history this is what we had to expect, but our hope is blinded us. You chose good moment to sell, and probably you will grow your bitcoins with that shorting. I dont do this kind of things, I keep my coins always safe.
   

   That is not drastic, that is completely insane. If bitcoin lose 50 % of its value that will be big alarm for almost everyone who have bitcoin. That would be real shock for me also.

Hey it's George Soros itself, you are the master of shorting, did you short the last big correction?

Im sure a lot of people did a lot of money in this correction, but I have big doubts about the price going anywhere lower than what we have now, maybe a further dip to 700 maximum but why would anyone risk losing your position. I think the shorting it's over, now it's all time to buy and hold for the next mega pump that's inevitably coming soon.

Its in a tricky spot now, its gotta build a solid floor at 890-900 or its coming back down to $700.

Its not that it was sustainable or not. Its only that it looked fishy and faky. Everyone caught into believing it are feeling nervous and ashamed a bit. You can look now how a price action behaves now. Its extremely erratic nervous choppy moves up and down. Its really hard to trade let alone predict what future will bring. I think it will just fluctuate around 900 more like above that range.

It seems Bitcoin is quite strong at $850 to $930.  It plays along that range for sometime now.  Some people are also accumulating at this phase.  Maybe whales too, or probably a group of people. 


I agree 500 seems a little low but there is a big possibility for Bitcoin to drop down to $750.  Anyway, i think better to see the next price trend of bitcoin in the next day.

it is not dropping it is going back over 1500 before april 1st.

BTW  I sold some at 1000 and some at 1100 and some at 1125.

I also purchased some back at 875.


If it goes under 800 I will buy more.  But the trend should be to 1500-1600 in April.

I have seen many people talk about April like its the holy month for bitcoin but I don't understand why and now you are saying April the 1st. What's so special about April dude.

It is possible to go to $1500 before April. The price is already $1200.

Damn who the hell can handle the shorts? xD

I'm really impressed by people actually earning money during the corrections
I can't predict shit concerning them, just too hard

What I see is that it's time for hoooooooooooooooooooold :D

Meanwhile Bitcoin is confidently staying $1000+ and hitting all time highs. Sorry for your loss, doubters will keep getting destroyed as bitcoin grows. Any further dips are further opportunities for panic sellers to buy back in.

If the ETF gets finally passed it will be insane, $2000 is on sight.

Let’s not get ahead of ourselves bitcoin is growing and I expect a big rally but to say the 2000 price is on sight is not right, I think we may reach 1350 or something like that, soon then we will see a small dump by the ones that want to cash out and after that bitcoin may reach 1500 but 2000 is too much.

That is right. We need to achieve the 1350 first. That could be possible in the next 3 months.