Bitcoin Forum

I'm not a Fan Guy of Bitcoins.
I had received payments of $3,000 for my work from client and which was hard working money while the BTC/USD price was $2700+,
And as other's were expecting the price would push up to $3K+.

Now its Going down and down and I can only see Red Candles and no support levels in the BTC/USD chart,
Guys I'm really confused what's next. Will the price go down to $1K? I'm on a Massive Loss...Don't know how to recover  ???  

Bitcoin is dropping likely because of the soft fork. This drop in price is likely temporary. The best thing to do is leave the Bitcoin alone for a few months until it goes back up again. Bitcoin should rally after Aug 1st   

Welcome to the network and Bitcoin bud. The market is volatile, requires attention, and you should never expect for anything to stay the same for long. It will go up or down but there will be something happening one way or another. The thing you should have done was put it into an exchange and set up a stop-loss order for your money so that you wouldn't lose out too much when the market went down. Now, you're in a position and you're probably boned for a while. $1k is doubtful but always possible.

I've seen you ask this multiple times, and still are asking the same thing.
your first mistake was getting greedy. I see from your other topic you kept dreaming of $3000. instead you should have cashed out some and kept the rest.

your second mistake is asking random people on the internet instead of doing your own research. and also from the responds you received so far it seems to me like you only chose to listen to those who said it will rise instead of others.

now here is what I say. price may rise or it may fall. it is up to you to decide how much risk you want to take. if you sell now price may go up and break $3000 and reach $5000 by the end of this year.
if you don't sell price may fall and reach $1500 by the end of this year. :D

all we know is that the current drop down to $2000 is because of a fear of split.
we also know that nobody wants a split, not the investors, not the miners, not the services, nobody wants it.
we also know that SegWit has a very high support these days (above 90% in total).
we also know it will be activated one way or another in August. the BIP148 despite all the drama is forcing the hands of the miners.
and with a high support the risk of a split is nearly zero.

One who panic about the price fall should never keep it long in the form of btc. Op should have converted it to fiat once after receiving it, because the price increase and decrease is not planned as well it happens on the go. Few gets profited and few gets the chance to sell low, which can be overcome by holding and selling when price increases as expected.

I had just left the hope, all money is gone...

Bitcoin is horrible for paychecks unless you can dump it ASAP then you are on the hook until the next correction. Your only choice is to hold it until the next correction most likely after August 1st.

Why ask what bitcoin will do?  Do you think people can give you an accurate prediction?  Nobody can so all is utter speculation based on opinion. Bitcoin goes up and bitcoin goes down. It then goes down and up. Bitcoin is still likely to fall further because as usual idiots get scared by change and they're worried about the fork so they panic sell hence the crash. It's probably going to go even lower nearer or soon after the actual fork date but if you hold your coins for a period of time it will likely recover eventually but there is no guarantees. If you need the money I'd cash out when you can but if you're in bitcoin for the long-term just hold and ride it out because there will always be ups and downs you gotta get through with bitcoin.

Yes, OP's main mistake was he was speculating with his paycheck thinking it would go higher.

People are doing some preventation to anticipate 1 Aug but I think it's normal since they also fear it will affect on bitcoin value.
But for me personally , I still keep most of my bitcoin by holding no matter what happen until it reach another halving on 2020 so relax , I'm sure after 1 Aug the value will be normal once again

At that time, fan guys of BTC's were shouting for more up BTC/USD price...I was greedy obviously and lost enough.

Firstly, I would definitely recommend taking bank transfers or PayPal money or any other form of payment for your job. Bitcoin isn’t at the stage yet where it is too be used as a payment method for your income. It is just too risky and it is meant to be a investment and not something like that. Well Bitcoin has fell to around 2000 USD now and it seems to be continuously falling but I would still not sell. August the first is coming around, and after that, the price should surge back up to around 2800 USD. Keep believing!

It's not an actual loss until you decide to convert it to fiat. What I would do if I were in your situation is just to hold on to much of that amount and wait out until there's more stability. The price has shown over the years that it can rebound after dips, but you must have the patience. Again, always easier said than done but that's the most logical thing to do right now, at least for me.

One who freezes about the value fall ought to never keep it long as BTC. Operation ought to have changed it to fiat once in the wake of getting it in light of the fact that the cost increment and abatement are not arranged too it occurs in a hurry. Maybe a couple get benefitted and few find the opportunity to offer low, which can be overwhelmed by holding and offering when cost increments obviously

You aren't in favor of bitcoin, your client paid you in BTC for your hard work, $3000, guess your client had no other option, but you had, you could have converted it to to your local currency with a minimal fee at that point in time. But you didn't, you favored bitcoin by expecting in short-term holding bitcoin would add a few additional dollars to your income, but it didn't. Welcome to bitcoin. Sorry for being blunt. Just hodl and wait, you wouldn't be disappointed. Keep earning.

Guy, you are not the only one involved here as several people are in the same dilemma its what you sign up for by default the moment you accepted to receive your payment in btc with the hope of it to increase. The only option you have now, is either to sell and count your losses or simply wait  which might be for a long time because no one knows the future but I would advise you wait, it has happened before and its happening again.

at that time nobody knew the split is going to become a big FUD because nobody had a time machine to see the future. and if this FUD about the split never became big and people didn't take it seriously then price would have only had a small correction back to $2500ish and by the end of the year price would have been nearly $3000.

but things changed. the FUD became bigger, and nobody cared enough to check the reality and they all decided to believe what they read from a comment and panic sell their coins.

if you want to blame anyone, blame the idiots who don't know the difference between a fork or a split but yet give opinion about everything related to those.

You should have converted your Bitcoin when it was at least in the $2500 level so that loss was just minimal. Right now, it is getting to be lower than $2,000 and I am sure the rate can be dropping more. Now, if you are a risk taker, there is a big possibility that after August 1, the value would get back to surge. Maybe you just have to wait.

Simple,Bitcoin isn't for you along with all the traders who think bitcoin is bad just because the price is falling down.You shouldn't be using bitcoins in the first place.The price comes off due to the panic selling and suddenly people lose their minds,as if you have put in efforts to take bitcoin where it is today.
You've suffered a loss? Good,don't expect the market to work in your favor 24*7.

GTFO

Hold and you'll be happy in a few years.

Although Bitcoin is dumping, definitely it will pump again. Just hold it. And I avoid the getting payment on BTC for some time.

well, sell!
sell and get out.

you clearly think bitcoin is just the "price" that is supposed to always go up and make you rich, so it is best if you sell and stay away because bitcoin will disappoint you. bitcoin will only have a realistic rise based on adoption and sometimes it will have big drops like this because the market is full of idiots who wanted to become rich over night and they failed.

A lot.of people who recently joined bitcoin got burned. Now the are selling at a loss just to get a quick exit. They are not an investor but they just joined because someone told them. They dont have ang believe on bitcoin and don't know what it can do. Now panic is in the air and for me this is an opportunity. Just keep on buying guys.

The one point which comes after this analysis is since there will be no split, the bitcoin price will be roaring after August 1 and by this analysis, no one should sell the coins for cheap. This is the best analysis i have seen so far in the current situation.

You should sell your all bitcoins now , if you will not do this then you may loose your all coins or you can get only less money.
SEll your coins now and buy coins later when price will go below 1200 usd and then hold it.you may recover your lost.

Hold the coins and the convert them into cash when you need it in the future, if your living paycheck to paycheck then keep a fraction of the original amount when you receive them.
The amount of time it takes to convert it to a cash position is not that long once you receive the coins the greed and opportunity you took was based on the speculation it would go up when it really went down so you may as well just wait for a recovery.

You should have sold that amount ASAP.
Now you have 3 choices.
1. Hold your BTC in a secure wallet, prepare popcorn and wait
2. Sell your BTC at loss
3. Trying to short part of your BTC and hold the other part. (note that shorting now can be risky)

You are not the only one having these problems and having this kind of doubt and fear but most people who do earn bitcoin from their jobs and investments. We are all experiencing loss on our earnings as of now considering on the sudden decrease of bitcoin but i do still understand why because of those rumours on august 1 event but theres nothing to worry and the best thing is to accumulate those bitcoins while they are still cheap and if you do recieve less pay then its still okay because price of bitcoin will eventually recovers up.

$1800 level has been breached. Buy now while its low.

You're right, you're not.

You didn't even bother to find out what the point of it or why people are holding it rather than intrinsically worthless fiat currency.  

That's the problem with a lot of newbies who speculate in Bitcoin - they use the price as an indicator for how good BTC is.  If you don't bloody know about it, don't leave your money in it or you will lose it.  You're the reason why BTC is volatile.

Well, experience is the best teacher.

It is a normal thing in bitcoin world that the price going down like that.
My advice for you, my friend, convert your left over bitcoin into cash or use a secure wallet and wait.
Now the price will going down even more, 'cause lots of people are panic selling.

if it was money you needed you should've converted immediately. if you don't then you're a speculator like everyone else and you're opening yourself up to some nasty price movements.

It might go down to $1,000 yes. The secret is to HOLD!

now price is cheap time to buy more and keep hold
after august 1st whatever happen to bitcoin i already to face it

Nobody can predict the price of bitcoin in reality and you should do your own research before making any moves. If you have received those $3000 from your hard work than you should have cashed it out at the time when you received it. If you hold bitcoin than you are also taking risk of losing in terms of fiat when price will dump hard like the current one.

But if you don't sell right now with panic, you will not loss anything have some patience and hold for next few months.

OP clearly does not the price fluctuation in the BTc prices . Even coupe of years back it had crossed 2000 and then fall back to below 700. This time it had reached 3000+ so there was a very good profit booking being done and mostly people have sold their position . OP must have got at high prices and market have fallen since then . Wait or else sell the Btc now .

I'd rather wait in shitty fiat money until the hurricane is over.  ;D but if you'd have fo sell at a huge loss like op I'd hold.

Each currency in the world has ups and downs, not just bitcoin.
Check out Forex, for example.
Sometimes you win and sometimes loose, it's natural.
In last a year or two btc value jumped to the sky, from $250 to $3000.
Even with current price of $2000, it's still great profit for many of us.
In the long term, you will earn here but in short term, you can loose sometimes.
It's up to you.

Well, it s not a loss until u actually SELL IT. So dont SELL until it recovers.

Simple.

Couple of years back ATH was +- 1300 dollars

Bitcoin is on 1900$ point already. I'm in the same situation as you are, but the sum is much lower, but anyway I know how you feel. I would recommend you to not touch those bitcoins, because of a new wave of growth is expected after the 1st of August. Hold your coins if only you don't need money desperately.

You should aware of bitcoin environment before decided to be paid with bitcoin instead of cash, as you said you're a bitcoin fan, so that is your fault. If you do not need to convert bitcoin in the near future, I suggest to wait until the end of this month or next month, if segwit could be activated then bitcoin price should rise over $3000. But, if it is not works then we will stay at this point for months until miners activated segwit2x.

Well if your that brave and it is OK for you to rick your money, then go for it and wait for the August 1 to past by because it will be a good year for bitcoin once the plan for Segwit starts and in operational, right now you can really see the price fall because of so much tension with some holders, and selling out of fear is the only thing they see, if you are really not reading in this forum in the impending events that about to happen then the only thing you can do is sell everything that you have.

Now it seems serious. Dawn-dawn-dawn-dawn-dawn  ;D
Just relax and see Paul Johnson - Get Get Down (https://www.youtube.com/watch?v=cnT75uO1tNY)

Well it is probably for the good of bitcoin. After the segwit we can expect a large pump in bitcoin. After august 1 you can see that bitcoin is rising again and YOU CAN SEE THAT BITCOIN IS AT THE TOP AGAIN. Its not journey to hell it is journey to heaven from purgatory. Some article said that bitcoin might be $3000 or so after the segwit so be patience and watch bitcoin after August 1.

i don't understand what you are waiting for! you clearly think bitcoin is going to hell. then why are you wasting your time and ours by posting comments and charts. go sell and get out fast.

unless you have already made other plans like some margin trading that depends on price falling more....

First, you have to understand that every gain opportunity comes with a risk, in your case you wanted to get extra 11%, instead you have lost close to 30%. In fact, Bitcoin surged in price from $1000 to over $2500 in a very short period of time, just a few weeks. Many people considered it as a bubble or unhealthy speculations, because if the price rises too much and too quickly, it may crash quickly too. So, if you can't afford to lose any current value, you should usually sell BTC that you receive as a payment.

Now it's bitcoin is down and I think it's a common thing all will also have its ups and downs, and I think growth will happen as 1 August whether it will rise or reverse it, actually I also understand what you feel now, all Its definitely the same too, but i think i will keep this until the pump is kali pumping it

i feel sad for the bitcoin price since i am not aware for what the price of the bitcoin right now i think before that i need to convert all my bitcoin into fiat currency because i have a huge doubt that bitcoin will become this down and now here it is bitcoin now is at the price of 1,894 usd per bitcoin and yeh it is really hard for me to see that bitcoin is going that that hard. Hoping that it will recover soon.

If you are at a heavy loss ,i would say never panic and sell when you are at a heavy loss,just make sure that you add more coins whenever you can at a lower rate ,it is certain that the price of bitcoin will rise again in the future,just hold onto your coins for the long term and eventually the price will rise in the future,even if there is a split if you are having coins in your wallet where you have the private keys then you will have all the split coins.

Lost some a while back, I was so frustrated coz I invested a money on my bitcoin, and I regret doing that, but I never lose hope, I recover my money coz bitcoin Soared up high and I recover some of it, I guess that's the way trading works, but still hoping for the best, a lot of people here in the community are positive about bitcoin, and After all that frustration and regret in the past, I still believe bitcoin is the next best thing! 😊

It's interesting to me to see how many people here don't have the intestinal fortitude to be invested in bitcoin.  I suspect a lot of these people starting topics about "how low will we go?" weren't here back in 2013-14 when volatility was also through the roof.  If you've got faith in bitcoin as either an investment or as a currency, just hold.  You're never going to make any money buying high and selling low, are you?

We certainly could drop a lot lower, but none of us know where the bottom is.

Friend, Don't left the hope. Bitcoin is now changing their setups e.t.c to provide fasted transaction. Therefore it is going down it will be more powerful than you present. Because now a days it is a challenging moment for bitcoin. So keep calm it will be a rise soon after August and it will cross the boundary of $4000 after in a middle of August.

No, let's be honest.
Nobody considered it a bubble. Duck maybe and probably nagle.

Everybody was talking only about Japan, 300k stores, ETF millions of adopters , Africa , India.
Look at the threads.
Everyone denied being in a bubble.

People were talking about 5k, 10k, 50k in 5 years.
Let's be honest.
Nobody here wanted this "bubble" to burst we were all happy with BTC at 2800 we didn't need a healthy correction.

BTC/USD got a good support in the 1810 area and trying coming back to its position. Hope for the best :)

I think we have reached the bottom already. Now bitcoin rate is climbing strong. So people i advice you to buy on deep. But good thing i bought bitcoin already and will just time my next buy on deep.

Yes, please hold your coins if you want to avoid the loss. After reaching 1900$, bitcoin again rising and now above 2000$. Soon when people realize that bitcoin is not being hard forked, they will be a massive buy making bitcoin price above 3000$ in no time.

In there crypto world, one sure thing is uncertainty but the downward trend is not something people like us believe will last forever, so you are either going to join us and make bitcoin stronger or you go the way of those we see only in time of surplus but are quick to dump and even spread panick attacks in the case of little downward trend like the one witnessed in the past few days.

Your frustration is legit, you got two options from where I see, a) cry and more cry and sell your coins at a loss. B) understand that bitcoin is very volatile, and this all is happening cause of August 1st event and once that goes away, prices shall shoot up. So I would recommend you to sit tight and forget about Bitcoins till mid August, a great rally is coming and if you sell now you will regret forever, be patient and you shall reap rich rewards. Just be positive on Bitcoins.

These things can happen with bitcoin, the marketcap is tiny, which means fluctuations are going to be wild as long as bitcoin isn't worth half a million dollars per coin at least. BTC will not be a good currency until the marketcap is huge and people with a few BTC are rich, that amount of liquidity will be enough to keep a stable price.

So just hold and once the current hard fork attack is defeated we will go to another all time high.

You know already that bitcoin is very volatile then why did you accept the payment using bitcoin when there is a chance for the price to drop. Maybe you are thinking that it will go up and did not expect it to go down. We'll i guess now you know how bitcoin works I hope this will serve as a lesson to everyone.

There's nothing wrong with accepting Bitcoin as a payment for services delivered, if you just exchange it for fiat immediately.
This guy just saw it as an investment and lost, he should have known that this was a possible outcome.

When you got the payment, you did get the chance to convert it to fiat and exit the Bitcoin phenomenon. But you decided to remain in market to earn more profits which in turn impose a condition on you and i.e. "Profits with risk bearing". What you seeing presently as price clashes is essence of risk bearing that you accepted when decided not to sell BTC.
Now you have one tool and that is HODL, this is very unique feature of Bitcoin unlike other investments which says that sooner or later you will surely earn profits on your investment, all you need to do is HODLING Bitcoins.

Welcome to the bitcoin land - To the land of unrestricted speculations. If you are of faint heart, just do not invest any more than a symbolical ammount that will teach you how this all work.

Right now the bounce back is fairly convincing all will be well. There are people that are enjoying a long squozes from time to time. But such a sittuation is everywhere, where you can invest anything. If you do not like it - do not invest.

Yes people will have to take into account that cryptocurrencies are very volatile because they lack central control especially Bitcoin and so when it takes a downward trend we should learn to appreciate that it's part of the attributes of Bitcoin.

NO it's not going to go down and just check the rate of bitcoin again today the price is pumping a little bit. I suggest to you that don't always check the price of bitcoin because it might hurt you for real.


Don't you worry the price is quite good and stable at $1,800 - $2,000+ and whales will not allot it to get back again at the bottom.