Bitcoin Forum

Yet again China crashes the market,  tho i dont expect it to last long, so remember buy the dips .....lol

That is the basic nature of any stock market. Trader will pull out their funds once they feel that they have earned enough. So it is expected that the market will come down when the traders pull out their funds. But that creates another opportunity for them and for us as well.

I expect bitcoin to come down at $950 level again. I am getting ready with my USD funds to buy at this level so that I can make some good amount of profit when the price will rise again. This way, bitcoin price will find a support at $950 level and from that point, it will start increasing again.

Like right op?

Poor panic sellers china is playing you like a fiddle.

actually i expect this to last long. the FUD is still hot as it is, and they are going to continue spreading it, while dumping coins on the exchanges to push price lower.

and when this phase ends, all of the manipulators and all those who sold in initial phase have lots of money at hand to buy at the bottom so another long accumulation will shape up.

at what price and for how long is impossible to tell right now. it mostly depends on how many will panic sell today.

these are small money folks. real big money did not start playing yet.
i doubt that we will go lower than $750 as hedge funds already started buying in bulk at $800.
maybe the whole purpose of this is china's move to prevent ETF from happening and taking over btc as an investment.
If yes, it won't work.

I think this time it will set lower floor at $900 then it will start rising again , i started buying at this point of time  :D

People that were complaining about the price being too high can now put their money where their mouth is, and enjoy buying coins with a $100 discount. Instead of looking at this dump as being something negative, consider this to be a welcome moment to enter the market before the price starts heading up again. It's not the first time we have seen such a dump.

Others already know that this will happen but still a fan of weak hands. I see those who have dump just minimize their losses. I understand if they take care for the profits but it's not the concern since they think that the price will be decrease more so they sold it now. Im sure they will regret after bitcoin price will surge again.

And Im expecting a lots of related thread like this from now. No way bitcoin price will just go up. For an average joes, they didn't afford to buy coins at higher price so a crash is an advantage.

Just too soon after a fair spike but dont know if it will last for long before it correct itself. The exchanges involve need to appease the govt to satisfy the request. The news of the account freeze is the top of my concern for the exchange. Old traders know how to handle bitcoin at such times that slide in price is foreseeable.

According to an article[1] I read , It has nothing to do with the Chinese but mostly with the U.S panicking due to the announcement of the central bank .

[1] https://cointelegraph.com/news/bitcoin-price-roller-coaster-us-panics-china-shows-resilience

I guess today dip is not this issue (people cashing out because of profit).  There is a recent news about PBOC releasing warning again and at the same time 2 big exchange of China stop the withdrawal of Bitcoin for two months for the reason of system upgrade so that they will be more AML compliant.
But I believe this will not last , we can see Bitcoin touching 1k USD again soon after this dust settles.

It seems like the ruling class over in china  are filling their pockets.

As soon as the price starts trading strong they come up with some kind of news to unhinge the price, every single time.

The long term trend line remains unaffected though.

Absolutely, another $100 discount and chance to buy as the higher price will come back soon, every dip is the best time to store bitcoin.
Yes, maybe US citizens was panic due to announcement of central bank, but it will trigger others to sell as well.
Based on the market price, it seems that Okcoin has the lowest exchange rate, it shows how much panic sell also occur there.

i hope this time the price will come back in high than before because the down price this time is really too deep and many traders get panic when they see the red line to deep in market. i think we should be patience for a while this time, make sure that we don't get panic like other traders and we can make predicts with careful

Chinese exchanges tend to over-exaggerate (mostly more than western exchanges) at the time a dump or pump happens. One thing that always remains the same is that when people come to sense again, they quickly buy back as they realize it was a dumb move to sell. If you as trader know how to deal in such situations, then you can use the panic from others in your advantage to make hard profits.

Well it is actually the move of smarter trader. Though I think PBOC shorted its trade and right after they shorted, they announced the warning and to pair with the suspension of the two Big Exchanges in China.  Then they are cherry picking the panic sells of the weak hand and position it when the uptrend of Bitcoin takeover again.

But what does the central banks have anything to do with it?
That is fiat and this is a totally different beast in it's own right.
Sure you can buy it with fiat but still it should not affect what this crypto has to do with. In it's own market. :-\

Price has already started to rebound a bit. Could even go back up to $1000 USD by the weekend.
Good time to save a few dollars if you need to buy some Bitcoin IMO.

Glad that I sold 3 days back if price goes down to $1000,I will make good profit this time :)

In general, it's no coincidence that every time the price goes up in a solid manner that something happens. It's insider trading from the highest levels. I am not much of a person that thinks in theories, but I wouldn't be surprised when certain high level political figures in China are heavily involved in Bitcoin. China is very easy when it comes to banning all kinds of sites and services, so it wouldn't take them much effort to put a complete Bitcoin ban in place. Especially when you consider that Bitcoin can be used to move wealth from one country to another. And that's exactly what China doesn't like. There surely must be a reason as to why they don't ban Bitcoin.  ;)

They may had crashed the market again and fall back to $900's. I don't think it's bad at all as many people waiting for the dip to buy more bitcoin at cheaper price, better to buy as much as I can. This is another chance for new users/people that always complain of higher price of bitcoin. Waiting for the next decline seems hardly as the price suddenly recover again.

It seems this drop has not been so huge as the last one. I don't know if this current correction (we are arriving to the $1000 mark again right now) will have the power enough to recover its previous strength, but I am optimistic in that sense and I hope the $1100 mark again in next days.

In my opinion, a fall to levels that are still higher than the ones reached by recent rallies isn't a safe level to buy in. People looking to invest into bitcoin for the long run should be really cautious not to get fooled by a potential bubble.