Bitcoin Forum

It great in the sense that it is allowing more people world wide to get on board, and in the long term interest of bitcoin that is a good thing.  The only ones who hate crashes are day traders, and th eguy who lost his short the other day waiting for this.  lol  :o

So sitback ya'll and enjoy the ride this year.

Yeah, I'm waiting for the price to go a little bit down to buy for the first time a bigger amount of BTC. The huge hikes in its price are great for all of us, we're mostly tempted to buy no matter if it goes up or down (being afraid it's going to rise even more, or thinking the price is on the lowest level). I will be waiting for a <$400 price to buy.

I understand your point of you,but I am not happy at all the the value of Bitcoin has crashed.I'm sorry for the traders too,who wanted to make profit with the Bitcoins value change,and now that's suddenly the price of Bitcoin dropped from  $1150 to $875,that's gonna change the whole situation.Maybe the Bitcoin's value will drop even more.I remember I was happy to see last year in December the price of Bitcoin rising every day,and see the Bitcoin getting stronger...Although it it not the first time,that the Bitcoin's value is getting very high in  a short period of time and after that we can see that is dropping back to the initial value.The traders who were highly intuitive and have sold their Bitcoins ,when the Bitcoin's price was $1150, have made some good profit and now can buy again Bitcoins at much lower price and wait for the Bitcoin's price rising again and do some trading again.

Though I am a long trader but that sudden shift from one thousand dollars going down has caused some panic in me. But I was relieved that bitcoin has stopped crashing and has stabilized at the least. I did not expect such intense drop in the price I hope that will not happen again this year, but if it does I will no longer panic and maintain my calmness.

I still believe that bitcoin will go back to 1000$ each or possibly much higher this year.

I just got up and see it lost another $100 OVERNIGHT same at this same time yesterday only 24 hours ago.
There goes $200 of gains made in 2 months down in 2 days. :-[

Nope, after these dumps where newbies lose their money bitcoin gets more and more a scam. As soon as it goes up to 1000 again (if ever again) I think I´ll sell my coins and get out of this shit. There will never be a chance to let BTC grow. Each time greedy people have to ruin everything. And again negative shitstorm from the media comes over bitcoin and more people realize that this is only a scam.

Bitcoin is the same as fiat. The 1% that owns the coins rule everything. I see it will drop back to 600s.

Yes, its big dump in the price chart. Now the value seems to be 883$ as of now. I could say do not sell the bitcoin if you have with you. You could just make earnings as much you can till the next pump in the bitcoin price.

Yes this is a great entry point now.
For newbies, who are interested in buying their first coin and also for all the others who are in this space much longer and would like get more, meaning chance for accumulation.
Regarding the day traders, they know about the risk they are taking of trying to ride the Bitcoin wave, in what direction ever, so I don't feel pitty with them.

eh. yeah I guess it is, but i want it to stop already  :(

why now? the 'growth' wasn't any more natural than the fall.

it all hinges on adoption. i haven't seen much evidence of that increasing dramatically.

Mass adoption is a "Waiting for Godot" forever. It will never happen, has not happened in 8 years since bitcoin's inception. Every year it's been the same sh1t every time. Chinese whales pump-n-dump bitcoins. Every January they dump, every December they pump. We are just puppets, manipulated by our Chinese masters.

I am in BTC since 2012 and I´ve seen this exact scenario many times now. As it was @1100 and stopped there for two days, I knew a dump is coming. First huge drop to 885 (stamp) then back to 1000 (dead cat bounce), then another drop to 870s again and now the price will hover around 900 for 1-2 days and then the next drop will come, down to 800, then 700, then 600 etc. Same scenario as always. And then people start screaming "bitcoin is dead", price will go even more down, whales buy more coins, pump the price again, hope is everywhere, people buy again, new rally, whale sells again, drop, panic etc... For years now it is the same shit. They promised that Bitcoin will do everything better than the banks.  And it is even worse. The 1% steals the money from the poor people. Like the banksters do.

Guys, we all know this is how Bitcoin works. That is why is crazy everytime we have the usual pump people scream 2k-5k-10k - Moon. I love Bitcoin because i can use it to make profits. But bitcoin as greate idea as it was will never gain mass respect because of the fact it is a POW coin. POW coins is easy to control by miners.

Yes, I agree with you I'm trader too ,Im like hunter now, every 1hr I'm in the market to catch good price to buy some, so if we are lucky we can catch price like 500-600$ to buy them

I agree , The price now is not that much stable , bitcoins price is getting really high and getting really low  for a short period of time. It is good now to watch and trade bitcoin to your local currency. I am making good profit from it today.

Pullbacks are great and all, but beware with wanting a price that's too low thinking it will not go any lower... if we get as low as $500, the mentality by others might start to be "hey why not just wait for 300..." this can keep pushing the price down.

I think it would be ideal if we can stay within the 800-900 range for a while and then continue growing slowly, this rally was too abrupt, but we can keep growing, going back to 500 wouldn't be good business.

it is not great if you want any stability in your store of value

up 30% down 20% all in days

only crazy people would allocate more than 5% of their net worth in bitcoin

Probably yes :D it's a great chance for all of use (we can buy more btc and spend less!)

But a 25% dump in less than some hours sounds too bad... probably we have missing some fundamental info about the development of btc infrastructure and we risk to sit in an empty bubble!!!

I think it's good, but for another reason.

Bitcoin has difficult decisions ahead, above all the SegWit adoption. It seems it has still a long time before activation. If SegWit is not implemented and the transaction volume keeps growing like in 2016, then we'll have a problem in not more than 2-3 months: we'll have continuously full blocks. That would mean some people would stay outside the blockchain, even with legit transactions and higher fees.

Imagine what would mean that in a bull run. Blocks will be even fuller, there will be many newbies crying about their transactions not getting confirmed, and the sentiment rapidly would be MUCH more negative than it is now.

The best scenario for the first months of 2017 in my opinion is a sideways market in the 780-1000 area until segwit is adopted - then we can go to da moon if we want ;)

I agree.  I will use the pullback to add to my positions, in BTC and a few other cryptos.

What we are seeing is typical market behavior.  I do not regard it as a "crash".

hahahah,  come on now,  35-42 % down in  a day is not a crash?  stop shilling , thinking  you will bring in new victims!  the truth here is we do not know where this is going, it might as well go back to 500-600 range  and create more noob victims. We are not doing BTC on our selfs a favour by not be realistic. if we are honest and not scream moon every fucking time then more people will  listen and jump onboard.

Those people bought above 1100 dollar so they keep shout everything is fine and they are buying and you should do the same , its called the denial phase.    Wait till the price goes sub 800  , then the panic and tears will kick in.

4 sure , i am happy i  will buy back the coins i sold when btc gets to 500 range and it will. then wait until it goes up to 900 range and it will even if it takes a year is fine by me.

good point.
i kept seeing people talk about how they missed out on the price rise and were wishing price to go down so that they can buy bitcoin. this was when price was at $1100 and there were so many topics about this.
now they all disappeared and this is the first topic i see talking about the fact that it is that opportunity they were seeking !

You will be waiting awhile for that price, if it sees that price again ill be more than surprised.  :o

I think as well that this pull back is necessary.
Bitcoin should grow by demand of people who want to use it. Not by speculants!
The way bitcoin went up the last few weeks was pure bubble building!
Bubbles tend to implode, and that is not what I want to happen to bitcoin.

Speculators have an important role to play too. They provide liquidity to the market.
But the market shouldn't be driven by the speculators. This pull back brings back normalcy to the market.

Speculators are what make whatever markets in the world interesting as volatility is what attracts people. Without this volatility I am sure a lot less people would find Bitcoin interesting enough as an investment or for trading purposes. But then again, the stability will also attract people as they look to use Bitcoin as a long term store of wealth solution. Bitcoin is a multifunctional tool.

I believe for every pullback bitcoin undergoes new users get to adopt it which is a good for the crypto as its genuine pump with less intentions to dump it :)

I was worried no pullback will result in some exchange being bankrupt or such like it was with the mtgox. This pullback paradoxicly is very good sign that bitcoin is still in the world sane people.

This does show that it is not some sort of good rich quick scheme that all in the public did believe at one but now that it is getting global recognition. Many are seeing it in a different light then they once did when it was first introduced in the public eye by way of silk road.

I think it is :) People profits from this crash.  It is how you read the situation well.  I hope for the increase in value when it was $1k + but I know with the fast rise of Bitcoin price, it will certainly crash down to where it is now.  People called them correction but I guess this is another whales manipulation to accumulate cheaper coins after cashing out the one they bought in cheaper price way back months ago. Then price will go up again after this accumulation phase is done just like the old day.  They (whales) always rinse and repeat.

$400 is perfectly possible, in the following scenario:

- We continue the rally, breaking the ATH, up to $1500 or even $2000.
- The rally leads to a steep increase in transaction volume.
- Blocks are getting full - _really_ full. That means that a part of the users won't be able to move their coins.
- Bad press about "Bitcoin's lack of scalability", a new "SegWit war" and panic from the new users who bought above $1000.
- A crash like in early 2013: (Nearly) everybody is convinced that Bitcoin is doomed, that it can never gain traction and so won't increase in price anymore. Those who can sell, sell. We're first crashing again to $1000 and then even further. Bitcoin could lose 80% of its value and go as low as $400.

This is only a possibility, I hope it doesn't play out this way. But I would be very careful and distrust every rally before SegWit gets enabled.

This is a good thing for Bitcoin, in fact it will be a great opportunity for people who had missed the opportunity to buy before. In addition, several aspects indicate that now there are better chances of a slower and steadier climb, this is certainly something much better than a quick pump.

Last crash in 2013 was due to Mtgox who have created the bitcoin price high and when the scam burst it crashed like hell but this time this rise in bitcoin price is from the long term users and due to India and china getting lot of new users for bitcoin due to india had fiat currency demonetization and china having got limit of trading in cryptocurrency legal which boomed this rally. So the little bit of correction is always good not next rally

It seems to me that the withdrawal was down bad very quickly I guess more will remain in the upper level. My opinion is that if there is not too much withdrawal, it will be worse if it falls to the same level as 500,$  so the decline will be a bad impetus for me.

The impression is that the lower the purchasing power, the more likely it is that there will be so many drops going on towards the end of 2017.

If theres a pump going up ,there will be a rally going down vice versa.but the only one good thing about bitcoin going down is the stability in 800$ price.

it is, but they never act on it :)
the day before the drop there were at least a dozen topics here and other forums talking about how they wished price could come down so they can buy because they missed out, and after the price came down for real all of those users disappeared and i am sure 80% of them didn't buy because they were scared again. and they will say the same thing in a month when price is over $1000 again.

Always nice to see a little pull back after a significant rise, it creares stability. People can take profits & load up again too.

I think that there will be a rising soon or later in this year, the bitcoin has a great future a head these days.

You want to buy at $400? i think that won't happen lol. you had your chance when bitcoin was in that range, i'd bought 1.6 btc at $445 and now it's double and soon it will triple.

Are you guys and gals telling me that you didn't know a drop is eminent? should you necessarily watch a physical balloon inflating to believe the term " bubble" ? though bitcoin's bubble is not popping and never will and we need such bubbles since they attract more interesting people with filled pockets.

Fortunately there is a strong community holding bitcoin,s flag and providing enough air(support) for the bubble never to pop. :)