Bitcoin Forum

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http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

We have witnessed the huge bitcoin crash as its value dropped 900$ in just a short span of time and many have panicked. Altcoin holders have also sold their coins and the market becomes bloody since red colors signaling the drop of value of almost all altcoins.


http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

But starting June 2017 we have seen the steady rise of bitcoins value. The value was recovering and it was possibly due to the Chinas big exchanges. According to the article I qouted the biggest exchanges in China was already allowed to process withdrawals and that has caused bitcoin to rise again.

Isn't it an irony since the bubble before was cause by Chinese exchanges but today the bitcoins crash was saved by the Chinese exchanges also.

Of course, it will rise!
Bitcoin is not going to supplant governments or bring down the banks. But as the hype around the digital currency subsides, banks and entrepreneurs are trying to use bitcoin in ways that could revolutionise the banking industry. :P

What do you mean "was saved by the Chinese exchanges"?

I guess he refers to prices staying above 2,500 dolalrs per coin now

On May, 26 the price crashed massively and went down to 1,800 dollars, and it is assumed that if Chinese exchanges hadn't been allowed to process Bitcoin withdrawals again in early June, the price would have stagnated at those levels or even gone lower. I don't know how genuine is this claim, but the rebound back to almost 3,000 dollars per coin soon thereafter was rather spectacular and should have an explanation (apart from a simple rebound on its own). The Chinese exchanges with their trading volumes surging explain this hike pretty well

i dont unrestand what do u mean, can u clarify?

Ah interesting, thx. I actually disagree with this. Maybe the Chinese exchanges helped it bump earlier but imo BTC would have recovered anyway.

It is not going to bring down the governments. But it can bring down at last some of the major banks and companies such as Visa, Mastercard, and PayPal. I admit that it is still too early to dream about Bitcoin dominating the world, but if we can achieve this much in such a short period of time, then nothing will be impossible within a decade or two.

Easy to say, but you need to have balls of steel not to sell at USD 10 when you bought in at 5 cents.

Surely it will rise after that huge drop no matter how much does it drop,volatility at its finest,volatility is all around bitcoins.And altcoins going bloody red is just normal when bitcoins drops its a chain reaction i think

I tend to disagree with this view, at least, conceptually

It is unlikely that Bitcoin is going to bring down any major government out there, but let's not forget that there are still quite a few corrupted and weak governments in the world (like those of Zimbabwe or Venezuela), and Bitcoin can be one of the causes of their eventual fall and collapse. After all, fiat is one of the tools via which the government can control population (for example, they can easily block the accounts of people who are in opposition to the government), and Bitcoin essentially pulls this tool from the government grip, thereby making the government more susceptible to an overthrow and downfall

I am exactly not sure what made the price recover so soon,but one thing i know is that the scaling debate and the bitmain's proposal made an impact in the price and people started panicking and started selling off and i am not sure what made the market to recover so soon,may be there are investors pumping money in it and i am still not certain whether the Chinese removal of restrictions imposed by those exchanges made any impact.

The Chinese bitcoin exchanges has certainly gotten a lot smaller ever since the government stopped bitcoin withdrawals on most of the chinese exchanges such as BTCChina, Huobi, OKCoin etc. and all the trading activity basically moved to localbitcoins which obviously has a 1% fee on all exchanges compared to 0 fee on btcchina, meaning that volume is significantly lower as prfoits have gotten less and less.

I think that the current pump is a healthy one. There is essentially no way that we are going to go under $2000, and if we do, people will buy coins asap because they know from the experience over the past month that bitcoin should be naturally be valued at over $2000. It is nothing like 2013 because if it was, bitcoin would be at $1250 right now instead of $2750.

If we can get more countries to legalize bitcoin, like INdia, austraila, and japan, then i think we can actually turn this "bubble" into a healthy market.

What is the buble? In the bitcoin....

it is not about balls at all. it is just a different strategy.
- you invest as much money as you can lose at some price, it can be 5 cents or it can be $2500 and then you consider it as your long term investment and forget about it for years and come back either to a fortune, or loss or nothing at all. in any case you invested the money you could afford to lose. and also the chances of profit is high.

- the other method is doing constant trading, taking a lot of risks such as your account getting hacked, exchanges getting hacked or scam, exchanges going down because of DDoS or whatever and you miss selling or buying, and a lot more ... and try to make constant profit. in this case yes you would be an idiot not to sell at $10 if you speculated a bubble and a follow up drop. same with latest $2900+

Bitcoin is the best thing ever happened in life.The best currency ever it doesn't concern to banks and other investment corporations.It has own worth and own value but in a future it can effect on banking and other investment corporation.Now a day who are familiar with bitcoin they are investing and spreading to people to invest.

Bitcoin in general will rise. At least until next few halving. But with the problems being seen in the transaction, the value of Bitcoin won't be ever rising.

It is not about that, it is about the type of investor you are and what are your expectations, those that did not thought bitcoin could reach that value, most likely sold at that price, but those that understood the great reach that bitcoin had are probably holding to this day, those long term holders are probably waiting for bitcoin to be adopted globally before they sell if they sell at all.

When you hesitate, sell 20%, 30% or 50% of your coins.
It's like having just 1 ball ... but of steel.

for some people it is not hesitation, it is not balls either. it is called discipline!
when you analyze something and come to believe that thing will be successful in a couple of years, like bitcoin and how it will be worth $XXX then you won't care about risking all the small rises to pathetic prices such as $10 or $3000. you just keep buying every time there is a dip and hold.

and i think there isn't anybody who has never sold or at least spent bitcoin. i am sure everyone so far have either sold something or used bitcoin to buy something like that pizza story.

It is now rising and for sure the price of bitcoin is going to recover. The bloody market is already done and we are going to expect the real pump for the upcoming days. The month of July is going to be a full blast because of the upcoming split on August 1.

Not only bitcoin, along with this majority of the altcoins that have been dropping gradually has given the signs of retaining the value. The altcoins that I hold in my portfolio have been in the increasing side without even a single coin on the decreasing side. This seems to be the start for next price pumping and let's hope to reach $3000 at the earliest.

Yes majority of the crypto's are in the down signal. But right now bitcoin is taking time to recover, I knew it that it can't be stable again at $2,500 but it's trying. I'm hoping that after this recovery it will be on a positive movement and there's no more correction that will happen or if it will happen again, maybe on November.

Panic selling is the worst thing that you can do with your bitcoin investment.

This is really a newbie mistake. If you are even just a tad experienced with bitcoin you'll know that when everyone else is dumping, you buy. But don't buy in all your coins at once, buy it in sections. For example, set yourself a target of buying 1 BTC a day no matter what the price is for 10 days when the price is crashing.

I wouldn't be surprised though that if there were more to come. I'd say that btc will settle at around $2200 eventually after all the adjustments. I just don't think that we will see a sub-$2000 bitcoin price for a long while, possibly in 1-2 years.

This seems to be the beginning of the next price for pumping and let's hope to reach $3000 in early this month because the current price value of bitcoin's getting faster, yesterday the price value of bitcoin had declined because of the increasingly rapid movement then it is now slowly bubble

Panic selling is not all a newbie mistake. Most of the users here are holders of small Volume of bitcoin. So when the price moves unexpected suddenly users get the fear of missing out the ATH. This will surely make the users go for a selling. This will be used by the large scale investors to profit big.

The market will move like this  until August and that is what i think and when the scaling and all the developments are sorted out ,the next big rally starts ,i am sure investors are waiting for these drama to solve the issues within the speculated time and then we will see the market having a good ride,meanwhile expect market corrections every now and then.

This, when you invest you must try to avoid speculating with your money or you are going to be tempted to sell at any moment you have profits if on the other hand you are sure your investment is going to have value because you did not buy because of hype but because of the real utility of the project than you have no reason to sell at every single little change in price.

Bitcoin is an investment i leave to regret not investing and following back then in 2009 and leave to regret not holding recently in January, now i seriously do not know how to get back in

Actually the price of altcoin on market are falldown by the mentality of trader on market scared Bitcoin reach to high price soon. But they don't know the reason make the price of Bitcoin increasing fast just by FOMO on market. After this FOMO the price of Bitcoin will stable or correction because some trader will take profit for keep safe their funds.

At present, bitcoin has been pumping very well, it is carrying a tremendously terrible value of $ 3,400. We have a good foundation to believe that bitcoin can reach $ 4,000 in a short time. Let's wait for the development of it, I'm feeling very excited.

lol this is really basic to be discuss when bitcoin fall expect that after a weeks or days bitcoin will rise again after the dumped happens there are many users around the world who shows interest to use bitcoin and they will never let bitcoin to be fall those holders who want to make huge profit from it also from trading believe it or not bicoin is getting more powerful