Bitcoin Forum

What do you say? Did the bubble burst and we're seeing a decline or are we still aiming to the moon?

It looks to just be some short term panic over a possible hardfork by bitmain and its allies. I don't think its a general decline yet.

Don't think so.
Check twitter. More and more miners agree to SegWit2x. And is this is compatible with BIP148 now the community will get SegWit as it was planned.No modifications. Bifury, BTCC, F2Pool, ViaBTC have all agreed so far.
Imo we will continue moving up again. Of course some dips always possible.
I believe this whole dump was orchestrated by (some) miners and probably a few whales to make some big money before moving forward.
Bitmain's shitty announcement and HF threat, then the massive dump. Now they load up, pumped the market again and announced support for SegWit.Antpool, Bitmain will be the last to signal for SegWit2x imo, but they will.

Yes it's dead, sell your stock....
we need cheap coins.

Bounce? It was supposed to happened. The August event will surely bring the price goes up again. Others will start a FUD and that is normal. Who wants to buy anyways at $3,000 as a bottom?


Like what happened the last time SEC rejected the ETF approval. Whales wants to buy cheap coins before moving forward. Just my speculation so trying to do anything to purchase at the current price.

Cheap, hell if it's dead then the coins should be free.  ;D

NOTE:
You will see thew term "dead cat bounce" here occasionally. It is a term borrowed from stock trading that does not apply to bitcoin, yet it is used all the time. In stock offerings the stocks value must stay above a certain threshold because the money is needed by the issuing company.  That is why they offered it for sale, they need the money to stay afloat.
Sometimes it all goes wrong and the value drops. Then just before complete collapse there is a minor rally that "bounces" the price back up. It does not last long and the price then falls to a level that causes the company to become insolvent and close. That last rally is the dead cat bounce. But bitcoin is nothing like a stock. It does not need your money to operate and worked just fine when bitcoin was $0.06

A "DCB" is also ONLY knowable after the cat has died. So you know.

This is not at all an loss or growth asset, because this is just to have an enriched relationship as we're getting into destruction from the grown value. This misunderstanding is made by its user's and they realise the sustainability only after missing a lot of profiting opportunity

A dying cat may bounce but cannot leap, right ? I mean to say some 5% to 10% recovery is usual and to be termed as dead cat bounce but, here bitcoins recovers more than 50% from what it had lost. It might mean serious recovery is happening right now and the new trend has already stated which might lead to "new moon" too.

There was a lot of FUD going on and a few exchanges had exchanges which the speculators thought meant they'd better sell. Bitcoin prices are so fickle.

Woooww, it is a good news then. Could you give some profile links where I can follow them (miners) on Twitter?
I just thought this dump because some people get tired of all of this bitcoin drama and problems​, trying to cash out their investment into fiat money or buy another coin which has steady increases, looking for another profits.
But, bitcoin could recover faster than I thought and it is already set at $2500 today. If miners really agreed about segwit, then bitcoin could be in rally again and break $3000 soon.

I have a feeling that this rise we are seeing may be the final shoulder of a head and shoulders reversal pattern. Bitcoin has been extremely overvalued for a while, and should probably be more around $1200-$1500. Might be starting a bearish trend now, but we'll see. Either way I wouldn't touch it as an investor. Very risky.

tl;dr: bitcoin head towards $3000 during the upcoming week  :-X

The bubble did burst. I think that the main thing that bursted this bubble was bitcoin's inability to break that magical $3000 level and that hurt the traders financially and more importantly psychologically a lot. If bitcoin went on to break $3000 then we could easily be seeing $3500, even $3700 right now. However either way, it'll have to come down to adjust a bit.

I believe that this is only a short term adjustment and the price has probably bottomed out at around $2400. Therefore I'll congratulate anyone that timed it right and bought at $2400. The price is slowly yet steadily recovering meaning that there is probably going to be another round of pumping, whether small or large, coming in very soon.

what dead cat bounce is that ?
all i can see is price rising from $1000 in about January 2017 to $2400 in June 2017. if a dead cat can bounce that high then i don't know what an alive cat can do!

The recent fall was a health correction and not a bubble burst. We are headed for some sideway movement until the next pump.

Bitcoin has been resilient currently to all the worst kind of news from the scaling deadlock to ETF rejections yet has been standing firm. It will need a really big pump before one can call it a bubble, maybe once it finally reached $10000.

No, not a dead cat bounce.  That would imply that the bull market is over, and I don't believe it is.  What we're seeing is just a temporary correction, which is going to happen when stuff blows up %150 in a matter of months.  I don't know what the actual growth was, but it's huge.  People take their profits, the price hits the commode for a bit, then the upward momentum resumes.  You'll see.  I've been a stock market observer for quite a few years, and this is more or less the same thing, except these price swings are enormous compared to what I've seen the Dow or S&P do.

You said it, brother.

yeah it was a correction but it was also a lot of panic sells too. the bitmain drama came out just in a perfect time as the market was getting ready to go down for correction after failing to break $3000 resistance.

and it has been similar with ETF and all the other things too! they came in at the right time. and sometimes they are even irrelevant to bitcoin such as the case with ETF...

Some group of people decided to dump and create some what called panic selling ,where if thier target price reached then its time fir them to buy btc because they all know btc will hit 4000$ by the end of the year.

Price correction is again in motion hopefully this time will will break magic barrier of 3000 dollars this time, if not then i expect to see in August end or early September. Hoe ever price will be broken this year and some expect to see price go higher then 4000 that would be excellent to see but for start let this time come cross over 3000.

Yup, let's break through & consolidate $3000 before we think about going all the way up to $4000.
I'm hoping we see $3000 in the next week or so.

I'm starting to think that the alts have a major part to play in bitcoin's price. If the flippening happens, I think people might stampede out of bitcoin into some alts.

so far people have shown that they are only waiting in an altcoin so that their prices go as high as possible to dump them. and at the first sight of any kind of market disturbance they leave the altcoin market high and dry. this has already happened multiple times in the past too.

I see it going to sub $2000 level, where i can buy, and then it will come back  :D

technically it should go to 1500-1800, but one can never tell with bitcoin, because there will be a lot of buying down there, so the drop may not be too deep. Therefore I'll be buying smaller amounts every time we get lower low.

This is all true. I always though that Bitcoin can't be damaged only from the inside.
Lack of consensus which can be accepted by major mining pool and different visions of bitcoin scaling was always the biggest factor influencing the price.
I expect that there will be major crash of price right before scaling upgrade will be initiated, just because users will panic that something might go wrong.

We are going to see a decline in price the closer we get to august and some people decide to get out of bitcoin before the storm happens, this could be a good opportunity for those that believe bitcoin will come out stronger out of this and get more bitcoin on the process.

Bitcoin aiming to the Moon. How ridiculous that sounds. Poor Bitcoin.

Its not bubble burst.Bitcoin price fell from $2800 last week to $2300.But soon it recovered and now its $2536.This shows there is still large volume of people who are ready to buy bitcoins.So we need not compare this price fall to price crash happened earlier.Bitcoin's price grew very fast to $2800 earlier.Now price has stabilized a little bit.

It's just cruising in a new steady range for a while until it decides to breakout again or stabilize at a lower price point.
Could be hear for years pause until the fork/segwit decision is done etc, so I would just say this is a waiting period before any storm starts brewing on the horizon good old calm waters before a troubled storm ahead.