Bitcoin Forum

Its hasn't been more than 1 day since i checked the price at @ $1010+ how did it get to @ $875 -?!!? BitcoinPriceBump (https://bitcointalk.org/index.php?topic=1701199.msg17057013#msg17057013)

Youve just been given the perfect opportunity to buy the dip. I havent seen any news to suggest anythibg has  happened in pacticular , maybe a whale cashed out but i wouldnt be too worried, imo it will retrace back up towards where it was and beyond.

I believe there was some news from China's government or something like that. Not a ban but something saying crypto currencies aren't protected.

I could be wrong on that last bit but yes, it was negative government news from china supposedly

A bubble has pop-ed. It doesn't look that bad actually, since Bitcoin price is still much higher than at the start of the bubble.
I hope that from this point the price either continues to rise, either moves around this new value. And there's god chance that one of these two is going to happen. However, I'd stay and watch for 1-2 more days to be sure of the trend.

Bubble hasn't popped because it wasn't a bubble. If it was a bubble then we would be sitting at much lower levels. It's just a healthy correction that the market badly needed. That's why it doesn't look all that bad. If we maintain the $800 level, then I am fairly sure that we'll rise above $900 again. But then the next thing will be - Will we manage to maintain the $900 level... Either way, current volatility lends itself perfectly for some profitable trading. I have nothing to complain about.

Something big has happened. With China, too. Whenever something big like this happens, check an active price blog like coindesk.com or coinopoly.xyz. It'll give you an insight of global events and of the trends.

Seems like some company in China had some sus dealings with bitcoin, and theres alot of political uncertainty on what to do, be it ban bitcoin as a whole, or permit dealings to and from corporate entities, etc.

I'm gonna sit this one out.

China was largely responsible for the increase, and china's largely responsible for the drop. I used to try trading chinese financial news, it's tough because you never know what curveball the governments going to come out with.

By now you should have been familiar with these kinds of movement with BTCBTCBTC. Or should I say you should have expected this coming.  :)

Likely FUD according to charlie lee, they did this same trick 3 years ago mny times over.  Could be a bear trap going on right now or just sideways for another year idk.

nothing new is happening!

this is the same old bitcoin with thousands of newbies invested in it. the newbies had a fear of missing out a couple of weeks ago and caused the price to go from $790 to $1150 in a short while and now the same newbies are panicking and dumping their coins and whales are playing with their minds at the moment with the FUD they keep spreading and make millions of dollars from this process.

I was quite expecting this drop to happen since yesterday when I heard the news about china banning bitcoin. FUD or not, it is bound to affect or scare newbies to dump their coins. But for those more experienced bitcoiner, they will take this opportunity to buy more bitcoins and hold.

Absolutely nothing new is happening, when there is a rapid increase expect that there's a dump that will suddenly happen. So op is not just prepared for it and maybe expecting the price will even go higher. IMO, a whale sold bulks of bitcoins and probably now he bought it again at lower price together with those newbies sold them also because of panic. History is just repeating itself, don't worry it will pump again.

Welp. Just in case sold my coins at 850 temporarily. Im a looser i know but I see that 800$ resistance shaking and if it gets to be broken...........

Hope I can buy back in a few days

Why are you surprised? We know that after every rise comes drop, nothing new with btc price. Nothing is happening, we can't hold 1000 for longer then half a day.
Maybe is Chinese government, maybe segwit and cause just 30 % of miners adopted it, what ever it is it's not pleasant to see price dropping so fast.

Chinese Yuan was up 1% yesterday as the government raised interest rates and government banks bough huge amounts of CNY in an attempt to keep the price up.
Chinese Bitcoin holders probably cashed out a huge amount of coins in an attempt to get Chinese fiat that will increase in value.

Price is almost back to $900. Might be a good time to buy some Bitcoin since we could easily see a return to $1000, although that would be a few weeks/ months from now.

if there is higher price then there is a low price too and its should happen in the market, we can not expecting and hope that the price will increase every day. i think there are many factor that will make the price is down and i am sure, the price will be increase again but i am not sure when it will be happen.

why are you that shocked? the ~30% rise less than a week is explicitly volatile, nobody wanted to know the risk a few days ago so the price raises then drops.
btw i smell some support around $900. :)

Well, I guess this is normal. a very fast rise will decrease the price of bitcoin quickly. I am sure it will be much question about it. but I think this is a good thing from the bitcoin. instability of prices makes people can make a profit with the decision. Well, this is also one of the best things of bitcoin.

There was a period with Chinese buying Bitcoin like they would eating it. The price rose accordingly. In my book that is a bubble, not a normal growth.
I feel like we are lucky and it was a growth Bitcoin somehow needed (Bitcoin economy seems to flow better at 1000$ prices), but I still remember that not long ago we were talking about 200$ and 400$ prices.
I don't complain (!), the price remained yet high enough and gives a nice basis for the future growth. I still think though that it may not be over yet and we have to be cautious right now. Is the new level going to be closer to 800$ or 900$? We'll see.

It's normal for me, i mean the price keep raising since December last year and one day the price will go back down and yesterday is the day of it. I think it's because whale player bomb the bitcoin by selling their coins and make the price down.

It was a bubble. It rose from $700 t0 about $1100 in a month. The bulk of the move happened in just a week.

Anything that goes up that fast is being pumped and it's inevitable that the pumpers will cash out and the price will go down.

Lets hope it consolidates at the current price for a month or two before making any futher moves up.

The RMB strengthened just recently against the US dollar, China trying to provide warnings about bitcoin again lol.  No official bans of any sort.

Happened around the same time we needed our correction anyways.

It's what I said, in situations like this one we need to be prepared for everything, and we are truly prepared there will be no surprises for us. With bitcoin price anything can happen, and you and I have hope for increase, but we don't have any arguments for that.
I know we can't expect price to rise every day, but little stability would be good for a change.

So now the pump is over and bitcoin will move down from here ?

Well, as you see. if you notice, after the pump ends, bitcoin prices always go down to make the price to be stable, and I think, for now, bitcoin prices stabilized at $ 890- $ 900. Well, I feel that this will probably be stable long enough, before the price is back dump or pump.

I agree with this. This is now it's not a big dump but a correction that will keep Bitcoin stable between 800 and 900$ aproximately, at least for a while. After that I don't expect deeper dumps but another pump but more moderate and slow then it was now.

It is possible. The Bitcoin's price is holding strong in the market, but it is difficult to know if the price will continue recovering without some more drops. I think this will depend on demand and how much people are willing to hold.
In the long run the chances are great that the price may increase, but things are still uncertain in the short term.

I would say the trading zone is going to be somewhere between $800 and $900, day traders can make a lot of money if they stay on that zone. Of course, you may be on the wrong side holding either coin or BTC and you'll lose your position because sooner or later, this trading $800-900 zone will end, and price will sky rocket again (or maybe dip further).

I would just continue to buy every dip and hold long term. That is what has worked for me thus far. I would have traded back then at the $200-300 zone but I just bought every dip, and when it started going up I made more gains than any day trader could have made.

It's clear that at this point people aren't willing to sell any more coins. Especially now they have tasted the sweetness of the $1000 level. But the thing with this is that when the price stays below $1000 for quite some time, large players may start dumping out of boredom. It will be sad when we see the price gets dumped far below $800 again. That's why I am very happy that we keep hovering around the $900 level.

What an intense period we have seen these last weeks! It seems the storm has finished and it is not so bad to keep calm at ~$900 when one month ago the price was around $700's highs. This correction seems a good chance to buy, but with some cautions.

Yes it is, however I think that the price may still decline even more before it again has a bullish trend like previous days, it would be better to take things slowly.

It could always dip to $700 or as low as $600, the thing is, the chances of that happening are low, so who wants to risk their long term position in hopes of that happening? Certainly not me, I don't want to risk my 10-year position because of some stupid small gains, it's better stay patient while the rise begins again.

The price doesn't matter to the real believers but I believe we will soon see 10k and we will hodl forever.