Bitcoin Forum

Current average price is $2470 and market cap $85 Billion. Let's see what happens in the coming hours/days and how it's going to affect alts...

https://i.imgur.com/YSx6YgH.png

This doesn't surprise me and should surprise no one.   Things don't rise this fast without people taking their money off the table.   This whole market has me freaked out.  I've never seen this much of a bubble even in the stock market,  and I've been following stocks for many years.

I can just imagine what will happen in short term with billion coins like DOGE and SIA. If this dump continues (though it's a bit early to talk about real dump as Bitcoin is still up comparing to yesterday's price), then thousands of people will cry. Won't mention names of other coins (or whatever) on purpose. :D

Read "A Random Walk Down Wallstreet" or "Fooled By Randomness". In fact, just read "Fooled By Randomness."

What I hear when I read comments about short term market moves is, "Noise just noise noise noise! White noise noise and also noise!"

Ok, so it dropped 13 percent? Which is perfectly normal after the current rise? Who cares. It might even drop another 13 percent? And from there it will rise again. Why the fuzz? Remember when everybody sells it is the perfect time to buy.

And this comes from a guy who promotes ICO? I've been playing this "game" for quite some time now. Maybe you should read how I predicted the DAO failure a week before the attack? I'm not playing the smartass here, I'm just having some concerns (and it's not from today). Now try to be more constructive if you have opinion other than I'm being the dumb guy here.  


I care for people who are overpricing coins. Personally I don't give a shit even if it drops down to $1200.

I am not discouraged by brief crashes in the long term perspective of Bitcoin or the leading altcoins. It would not surprise me if Bitcoin drops to something like $1,800-$2,000 this week. This market is like a roller coaster.

And, just for the record, I think it was yesterday when I looked on CoinMarketCap and saw that only 2 out of the top 100 coins had about 2.5% decline - all others were in green. See what happens now.

EDIT: Now I counted them again - 51 coins out of the top 100 are with -10% or more decline for the past 24 hours.

i hope that the rise stops. not because i almost run out of altcoins because i sold them. if the rise continues then too many people will get burned.
i can understand why BTC and ETH rose. but doge, digibyte, bytecoin? what the fuck?

Almost all the top 100 coins dumped... wow it's all red but bitcoin seems to be rising again.

Imo, margin bull slaughter fest... panic sellers burned, then the rise will come. Healthy correction / pullback if it holds. it's the 5th hour. Gandalf the White will soon come.

What if the sell walls yell: "You shall not pass!"? :D

JESUS CHRIST!!! @Fluffypony, DO YOU SEE WHAT YOU DID!!!

The other coins rose so us bagholders could dump onto the new generation. Everyone needs to be bagholder at some point may as well indoctrinate these newbs.

Lol this is normal however it will become more expensive this coming week this is how they can made profit by dumping and instantly pumping once they already bought bitcoin. See the market cup it already breach $40b.... And they starting pumping bitcoin again..

On bittrex bitcoin just failed to $2100. Damn it. I could buy exchange my bitcoin other crypto and earn money from that. I am waiting for another big dump so that altcoin will rise

Imagine to have your entire fortune in some of the top coin/s: "My net worth is $50 Million". Ten minutes later: "My net worth is $35 Million". On the next day: "My net worth is $120 Million.". Funny, eh? :D

Nothing surprise me as in my own view, it's still considered as high following the large price increase that happens the moment it was reaching around $2,000. But somehow, like the usual, still on way up even by slow movement meaning the price decrease is not a big deal after all unless you are waiting for the small dip to makes buy.

Some of the altcoin's price movement still on their low price change today but slowly recovering from that low. Kinda good sign since it's now to make again some grabbing alts before price increase in some of them will happen again.

Big dump is coming everyone. Whales begin to sell their Bitcoin. hold your position and do not fall to their trap

only thing I'm concerned about is, if prices drop too low, I'll have to empty my pockets to buy a lot of coins. 

Relax bro, it is just a correction...healthy one. I would be worried if btc never corrected. Now we can go above 3k ;) see you there ^^

Hoping it drops more: Buy fear

Not convinced I think the party is over for now...

Maybe it will go to 3k or 4k, but it's to risky. Going to buy the dip around 1k makes way more sense in return than betting on first one.

How does this sentence can make any sense...

Dump incoming -> HODL

We will see if this is just a correction or another quick retrace then wiĺl pump evenmore as we seen how things happen so fast we almost hit 3k$ as of now im very excited what will happen in next few days thingking that before the end of may it will hit 3k$ mark.

Either it will hit it during the next couple of days or it won't happen in the next 2 years

we will be surprise if the price drops to 50%, but it will give a chance for those who wants to buy bitcoin on low price, but if it will continues to drop beyond that point think again.

I really wanted to buy bitcoin in a low price but yeah, it's really risky if the price is dropping continuously
I hope the price drop will be temporary, i really want to buy BTC , and wait until the price rise again

Someone said if the price drop continues we need to think again about buying bitcoins
but as for me i'll buy and i'll get the chance and wait until the price rise again.

People have suggested that altcoins will soar when btc dumps, except that's not really the case, their fates are actually tied together because people buy alts primarily with btc. When btc soars fast its true alts dump, but the inverse isn't normally true. When btc goes up slowly alts tend to go up too even in relation to btc.

I'm not worried though because it rose way too fast both btc and alts, its a healthy correction and just wait a few days for the dust to settle.

This is normal folks. What.. did you want to see BTC rise endlessly?  :D

I think it will drop more in the following days. Bitcoin have pumped up really crazy yesterday. Now its time for altcoins to pump. So buy altcoi s now while they are cheaper. Me i bought Xrp at its lowest price. I bought it at 9k sats. Now its 11k sats now. That's a good sign for altcoins. Most of altcoin are on red marks. Expect most of them to turn green on the next days.

Seriously this kind of comments ^

What on earth would force anyone to buy shitcoins like XRP

Yeah XRP is not one which I think will go back up, at least not longterm, its not even a real crypto and I think the majority buying it are just speculating based on hot air. I think bitcoin and ethereum are the coins of the future that will soar to new heights despite some normal corrections we are seeing.

It was just a price normalization (stabilization). Going up too fast and too much isn't normal.

And nothing happened, everything was stopped for a few hours or price decreased not more than 10-20% which can be called manipulative dump..I hope soon we will grow up and we won't be scared every time when Bitcoin farts stronger then usually.

i seriously feel like whales are dumping the alts than buying up bitcoin to drive the price back up of the alts, ive been watching these prices like crazy lately, and it makes sense if this is true.

lol yes people are greedy when they see a coin rise, they think it will not stop there until it reach the point they are at which they want to dump, i know because i feel the same , but tht increase was not sustainable, a dump was expected imho, it's already increasing again right now, i think investors just took their profit, next round is incoming

Just a minor retracing. Bitcoin is pumping to north. Hopefully to between 3k to  4k before the end of the year.

This dump was obvious. Bitcoin reached too high in very short time. This created market leap in short time with lots of people selling their bitcoin overnight. This would have altered prices of altcoin because everyone sold them and altcoin probably got exhausted. This will happen every time bitcoin goes up.

Yes that's true! It suddenly reach to high value in very short time and this morning it goes down again and I forgot to sell my bitcoin this evening it's better next time for me.

It just depends on how long you're in the game for. It's unlikely that Bitcoin will see another huge drop ever again (IMO) so there's no reason to sell right now.

Hopefully, this will be good for altcoin, the focus back to altcoin trading after yesterday was surprised by the incredible btc rise. The spirit before btc skyrocketed again.

When its thinking about how to supply btc as much as possible. Not too concerned with btc prices, down or up. Sure in the future this currency will be the first order.

A lot of sell panic

This is the reason why from $2,700 it went down to $2,300 - $2,200 and now back at $2,000. Every time I'm seeing the price of bitcoin it makes me weak and I don't want to check it again. I feel sorry that I didn't go along with those people that started to sell when the price was still at $2,700. A mistake that I'm regretting until now.

this is the best time to buy and hold or buy wait sell.i just put 1 BTC order @ 2000$ will see if price drops i can collect another BTC to my collection.

Now it went down even further 1.5k USD in bittrex in just a couple of hours, i am guessing the floor will be in 900 usd and it will play around 1.3 to 1k usd.

Take it positively guys, the dump is profitable for us only. Just imagine if goes all the way down to dark ages price then we can buy huge amounts of bitcoins and then regain huge profits in the future. Im eagerly waiting for the price to drop more down below. Lol. Those who had invested in bitcoin at high prices be hold and don't do panic selling. That would be stupidest decision ever. Bitcoin may play around low prices for long time but when it will pump to huge price that would be just huge profits all over.

^ What kind of fucking useless comments. First rule, you make losses cut them.


Yeah it will, but before that it will return to the range of 600$

Yeah on a good note, you can buy cheap btc right now, BTC is just starting to pump this year, you already know what will happen next right? Lots of trading experts are expecting such market waves.

I'd say a lot of it is due to all the crypto news sites going on about how ETH is going to dethrone BTC and how BTC is old news and what not. I bet a lot of people are getting out of BTC and looking at ETH and coins built off the smart contract system.

It's really funny to read comments like this... By christmas expecting threads like "wtf Bitcoin 800$ - lost everything"

All this also depends by the traders, where if they have an interest is good then the increase will certainly experience a bitcoin multiples are very high. And I see now that this price is going down, because of the bitcoin spirit of traders have already started to disappear or be said of those who play big have got many advantages. So they stop the game and start playing as usual. So, you better follow and never panicked. Because it will help you to become worse
 

the dump is overhyped, i tryed to get some btc at 1700$ but it was at 2k so fast again didnt even get it, every decent chart ready says a dump brings you to where you started before the pump, so last floor was 2k so thats where its dumping,  once we reach 3+k it will be a floor of 2.5k and so on, bumpy ride but it will go up :)

ps why someone would sell sth for 1700 that was 2800 a few hours before is beyond me..

it depends on what you call "top", if it is just the fact that one coin is in the first 10 of some random list then you are correct. but if you are talking about bitcoin specifically then no, things are very different. when an altcoin gets pumped, it will get dumped and stays down.
but when bitcoin goes up it corrects and then rises again after some down time and accumulation.

if i had my entire fortune in bitcoin, lets say $50 million back when i started using bitcoin i would have lost for the first couple of months (the dip of 2014) but now that $50 million would have worth $250 million!
same goes for any other long term investment so far. they are always profitable in bitcoin.

Exactly, since we reached and seen the price did get pumped to $2,800 then why you would even sell at lower price?

There's no need to do some action today but to keep on holding, if you know and see some history on the chart of bitcoin.

It will tell you just keep on holding as we will see some another price increase very soon.

This is normal in this insane world of Crypto.
Or maybe can stay around 2k for sometime and then can bounce back on good news..I don't believe we are going back to 900$ this is too much.

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It is amazing  we are talking about BTC in altcoin topic, we are creating negative pressure on alts this way.

Presently the rate is 2000$+ and the dumping is still going on. Every time it starts dumping, at least 10% of the value will be down. A bad season for trading as well as buying. Anything can happen, on some exchanges, it got lowered to 1900$ and its not looking good for traders.

Nice correction, eh?

https://i.imgur.com/XWDM3ri.png

Thats why you should never buy on margin. Wonder how many people got wiped out.

if they don't sell they have not lost anything, the same for those that they didn't sell in 2013 and that held their amount until this pump, they didn't lost anything too, it's a matter how much you can hold seriously, there is nothing more to do, but cashign out at the right time and buy back more coins is something few can do

its not good to sell right now because the value is reduce but in the future, i think the value will be increase again like before. i think what happen in the last year will be happen again and for people that want to buy bitcoin, i think they can waiting for a while before they want to buy directly because the price is down now.

Im not sure if you know how margin sells. If the margin positions crosses a certain treshhold, your position is automatically closed and you lose all of your money. If the position is a short position, you could end up in debt, even tho I think this is not the case in poloniex, not sure how it works in other exchanges.

Margin can make you rich or can make you broke, thats why it's high risk/high reward.

same as i understand margin trading there's an exact margin for earnings and losing your money and it can happen in a day as the value reach the price in which ways its really a risky trade and for those who played with btc surely they already lose their hard earn investment as we see the big downfall its affecting the traders position now. unlike with ordinary buy and sell as you can hold for long for you to able not to lose a single penny since bitcoin will manage a bounce back for sure.

Do you think guys it will continue to drop?

Sure why not.

This isn't true. If the price falls far enough their position will be liquidated in order prevent losses on the bitcoin being loaned. The exchange wont let you lose money that isnt yours

I think he is not talking about shorters...

If you go on margin, you get liquidated as soon as 80% of your money is lost. Does not matter if you went long or short, or with 2x or 5x your money. When 80% of your investment is lost, you are basically at zero. Finally it depends on the exchange ...

At first I'm a panicking but I learned from it, are you sure that if I will never panic it will help me to become worse? Are you sure with or you are spelled out the "worse" wrong. Because if most of us will never panic that will be good to all of us and it will help us to become more calm and give us benefits in the end.

Yes, but looks the price of crypto gets stable right now. My opinion if there will be little chance the price of all crypto goes down for a bit. But the chart has told me if we are on the stable way at this time. No more panic sell to the market.
I hope the market will realize about how the dump it works to give decent profit for the whales.

We will have passed this phase.

Not a good day in cryptocurrency at all.  It's a blood bath in the market.  Out of the top 100 on www.coinmarketcap.com, maybe a dozen or so coins/tokens are in the green.   :(

Sure it was a blood bath and i think some of the traders lost a lot of money with the market suddenly behaving like this after a good rally for a very long time and some lucky members did make a good amount of money with the rally and i hope the price will recover and i am waiting to see what the big time investors are planning to do.

It seems like price is slowly stabilizing at around $2000, thankfully i've dumped my coins before all this happened so i'm not in a bad situation right now. In fact i can probably pick up some cheap coins at the moment for under $2000.

Altcoins are doing worse than bitcoin is, if you look at the top 100 on coinmarketcap you'll see that most altcoins have gone down more than bitcoin in fiat terms which means that it has gone down more than bitcoin in percentage terms as well.

Where are we heading next? ???

were very close to breaking out of a descending triangle on a 5 minute chart.. this suggests bitcoin could go up to around $2300-2400 if we break above this pattern on GDAX.

We just broke above it as I was finishing this post. It needed to hit $2100 on GDAX and it did.  Charts suggest we go up to what I said above.. let's see if the technical analysis plays out.

I do not expect the drop of the price of  top 100 coin yesterday I almost lost half of my money , but thank God it's recovering back little by little. I'm still in lost but it's fine I know I will recover it all back.

Nope, the correction is now over. Back up to 70+B market cap. Those looking for coins on a discount missed their opportunity

i bought back at 2300, wish i waited another day.. coulda got 1950!!

usually when there is a big bubble and it bursts there is a big downfall, which is what we saw in altcoin market yesterday. but since there are still believers in the market that think the altcoins' bubble pop was a correction they buy back with high hopes and that is when we see the classic dead cat bounce and surely enough for majority of them the price will continue dumping because those knowing these facts will take advantage of the situation for a quick short term profit.

I would agree with these but ever since btc reached 2800$ a lot of investors had profitted. I cant say the same though with me cause i only profited in low amounts and also i am one of those quick short term profit during the btc reaching its peak. Most of use already forsaw these but i am not expecting the price to go down to as low as 1999$. I believe that the stagnant price of btc would be now at 2k$ and it may go down lower but probably 2k is its minimum low price.

At the moment the price is rising. I think that for 2-3 days the price will be 2500 dollars for BTC. Sold only 10,000 BTC, and the market so sagged

The value is recovering for bitcoin as well as most of the alts. Very pleased to see lots of green on coinmarketcap.

And those who bought just before the dump, can breath easily now.  ;D

This was really nice day for a good catch..How many regrets we have now?

Yes it is evident now they accumulating aging while others waiting, scared and in fear that BTC days are numbered.. Look at Trex and you can find almost every alt was decreased in value..This is perfect situation now. My only problem is where to start..
XMR ETC ETH...