Bitcoin Forum

I have been surprised by the resilience of btc and alts at recent levels, but now it looks like we are heading down for a little bit.

I think this is good it ameliorates a the size of a bubble and crash later though that will still come.

It does not feel like a bubble going from 1K to 2.5 K in BTC land.

30$ to 250$

and 125$ to $1200$

feels bubblish.

there could be a shake out in august then onto bubble.

As OP stated we maybe going a little down and will soon retain the track towards the increasing side. This is just a time of resistance making. Not only bitcoin, other than very few altcoins every coins were in the price decrease. This can be used as an opportunity to invest at the lower price.

Agreed, but I feel a strong correction is coming.

If we get a shakeout it is going to happen now!!
Until August 1st SegWit has to be locked in, otherwise UASF BIP148 kicks in, miners will have lost face and we will get SegWit that way and then we will moving up in terms of price.
So I can not see why we should get a shakeout in August. This makes no sense imo!
The only reason I could imagine this to happen is when Jihan decides to fork off, creates his chinacoin with 2 developers and does whatever he wants with it. But I don't think this is going to happen as Jihan would definitely destroy his whole build business! Game theory!

all i saw today from early morning was a lot of dumps that pushed the price down below $2500 into $24xx range but the surprising part was the fast come back of a lot more buys that caused the price to jump back up above $2500 again.

if you look at today's chart it looks completely ridiculous with all the big dumps and then the strong buy support buying it back up!

I am not so sure we are going much down. On one hand many some want to cash out benefits, on the other hand, there should be lots of people waiting their moment to get in. If it is a little low, they will get in and make the price rise again...

It's not that we're moving in a downtrend, but more that the market is looking a more or less stable range to settle in.

Don't forget that the overall buy support is sitting on the lower side, so if the price is going down, it might look more severe than it in reality is ~ it's all part of the current market.

People are just waiting out what is going to happen next month, and rightfully so. It's not something we can just discard like everything will sort itself out ~ people are cautious.

It seems that it is not only bitcoin price that are going down at the moment, Even Ethereum and Litecoin values are starting to drop fast, maybe it is time for a price correction after the recent madness. I really wonder what will happen to bitcoin price as it gets closer to August 1st, will we see a lot of traders panic selling their bitcoins away?

I'm seeing that its trying to back up at $2500. I also observed somewhat a downward trend in the last 3 days or so. I believed that investors are still in the dark as far as Segwit2x. Who wouldn't? money is involved so better be safe than sorry. So let say good for $3000 at the end of the week. It could not be hit. I think the price could be sitting in the range of $2500-$2700 in the next month until Aug 1. But when everything is settled, I see that the price could swing to more favorable side because investors would then pouring cash to bitcoin ecosystem again.

https://pics.onsizzle.com/scientists-report-a-sudden-explosion-in-bear-population-bearcano-has-21040617.png

I think you are all in denial... its just ETH .... not a bubble. 10000 $ end of the year...

So the question is:
Can you bear the heat?

I agree that we might be in a downward trend. But it will be real tough to time it.
It might last 2 months or 6 months. In any case, rapid increases are not good. What we need is sustainable growth.

I think Bitcoin is likely to have a rather sexy winter if we see some real technical progress both proposed and happening. Until then it could be pretty sporty.

All bets are off for the alts. I have no idea what any of them are going to get up to. Reason checked out there many moons ago.

So how far down do you guys think its going to go?  I sold at a profit at 2780 and waited for it to drop to buy back in.  My goal was to keep trading until I made enough from profit to hold.  So I kept seeing it fluctuate and finally bought back at 2640.  Later that day it started going down and it hasn't stopped going down.  I"m not going to sell because I did that before and lost $ but every minute it keeps sinking.  Of course I"m thinking if I only would have waited and bought in now but you just can't second guess this stuff.  Any suggestions?  

Well you have said it already, better hold on it and not sell because you are going to lose your investment. If I were you, I'm going to buy more of bitcoin. Specially today, as of the current the price is going hard now. Opportunity is here again to buy back bitcoin and accumulate more.

No one can answer that question precisely

If things start looking really nasty, 2,000 dollars per coin will look nebulous. Other than that, you should have waited for at least a 20% drop. This is what Bitcoin volatility is like today. Obviously, you fell a victim to the FOMO beast. Remember, it is always better to cry in a Cadillac than on a bus, and it is always better to cry over imaginary profits which you didn't earn than over real losses that you actually suffered

Looking at the price now, has move the price to the $2300+ which is a lot of dip if you ask me but at the same time not weary because the market will likely correct itself and the panic sellers dumping at the same time might have wished they waited a little. To those who had bought high, and it seems losses are accumulating, its a risk everyone must take at this time and hopefully its one that pays off at the end.

I think it can be possible that the price can be down and reach to below $2,000 this time we will see a price down and its because of segwit2 because many other people are still afraid about segwit and its rejected before and this coming august segwit activation will start and hope that the fear to me and other people are wrong and it can gives a good result.
I just notice that not only bitcoin are decreasing. other altcoin too..

I don't see anything spectacular/different here from what we have been through a few times already. In current situation where Bitcoin is losing value, you'll always have people stating the reason to be that they shift to altcoins, but even altcoins are going down. As long as we aren't going to dive below the $2000 level, there is not much people should be concerned with -- just use it in your advantage if you were waiting for a correction.

Yes we are currently on the down trend and it started when the correction happened. However, this duration of this event cannot be predicted precisely. It has been weeks when we experience this. As to what I think, this may be due to the combination of the bear market we are in and the fears of some people about the upcoming segwit activation. So it is highly probable that we will continue experiencing this as the "Judgement Day" (from deisik) approaches.

It is evident that people are massively moving to fiat now

And this is what I warned people about here when the price had been still hanging in the range of 2,500-2,600 dollars per coin (after it rebounded from 2,200 a few days prior). Many traders sold their coins when the price went down to 2,200 dollars but they didn't buy back. It had become obvious when the dollar loan rates went down almost twice (i.e. people packed their wealth in fiat). So the market at over 2,500 dollars was very thin, and it was only a matter of time till the price started to slide down

It's obvious that moons have aligned to give us a downtrend on this august 1st nonsense. Once people realize that it's just nothing, the price will quickly recover and we will march towards an ATH. The ongoing hardfork FUD will get absorbed by the market when all the idiots having doubts about bitcoin every now and then realize nothing bad is going to happen.

In other words: buy the dip as always.

I agree with you. It's time to BTFD.