Bitcoin Forum

We hit less than 65B. Any further would trigger a panic sell to a total bloodbath. Is the storm over for now?

Maybe for now, it might pick up with the work week starting and maybe we will see a day or two of green. But I expect next weekend to be just as bad if not worse, and the last week of July is honestly up in the air at this point. I think we are close to the bottom, but not quite rock bottom yet.

I just bought couple things for baout 100k usd,
I dont care it is bottom pr not,
It just good price for HODL.

Exactly. While most people are watching from the sidelines waiting for the "bottom" or the "perfect price", there are also people taking action and getting ahead by buying these insanely discounted prices. Those waiting for the bottom probably won't get it, because the bottom will be VERY short lived.

Those are buying in a rumor of the bitcoin hardfork in the early August. The system works for the basic method, I mean those are trying to sell their coin and buy in the bottom. It just like a competition to dump your coin and put your order in the bottom. I think those will buy in the news of bitcoin in the middle of august.

We are still weeks away from seeing any kind of bottom. 

Based on? No one can predict the market, or say that with any kind of certainty... Most people are sheep, EVERYONE is waiting for this mythical "dip" that's going to occur right before or after August 1. Most people won't get it. Reverse psychology would say that dip could be right now, with the whales accumulating at these low prices while all the sheep wait for Aug 1 only to be disappointed.

Think about it. Everyone who was going to sell/short their coins have most likely already done it by now, thinking they were getting ahead. If there is no one left to sell, how much further can it go? Not very.

My prediction is early this week we will see a brief increase in price, and towards the weekend and the last week of July prices will start to go back down to a little bit lower than current.

The time to buy is NOW and the last week of July or maybe first week of August.

The totalmarketcap can always fall dramatically. I don't think there is a bottom in this crypto money world. Especially for the coins, the bottom is 1 Satoshi for each one, even for the big altcoins.

Yes, technically. But there will ALWAYS be people holding most coins which makes the price going down that low super unlikely.

Most people act like sheep but those who are familiar with BTC know that it has proven over and over to shed 40-50% of its value before coming back stronger.  History will repeat itself.  Prices will keep dropping for now. 

Right, and it basically already has decreased 40% from the high of 3000 in June. I see the bottom being $1500-$1600 and for a very brief period of time.

Do you guys realize how fast these prices are going to increase when all the sheep that have been waiting get their grimey little hands on the altcoins in the last week of July? The winners and smart investors are "skipping the line" and buying now.

Yes I think the bottom is a good opportunity for the ones who wants to be include in the community and to get good profit out of this.
Lucky for some that have some funds to buy and take this downfall as positive and taking this as an advantage to buy more coins as they could so if there's a pump it will be a cloud nine for them.

@Nrashid. As a collective, and if all of you are asking that question means this is not the bottom yet. It shows that you are hopeful for a reversal. You will know if the bottom is reached if there is despair mixed with acceptance among the people. When you start to read posts that say they have already sold and they are saying they are done, that is a good signal to start looking at the market.

They will starting buying but slowly, not make fast because they know in present most trader are scared deathline of SegWit2x Bitcoin. Only need have bad news at deathline, we can see a big crash will happening

Don't try to buy at the bottom; you will miss it. Normal people like us don't set prices, we react to them.
It's best to buy before the bottom. Prices could shoot up very rapidly.

I think now is the best time to buy and based on my personal analysis I think we are now in the bottom and this create another opportunity for those cry that bitcoin, Eth, litecoin is too expensive to buy cheap with their risk capital. Any further push back will be a disaster and I don't think many of us will want that.

Actually this is hard to wait and to buy at the bottom price, it is best to buy back before its late. As we cant timing the price if how much its dip. Thats true price can move quickly so buy while you can and HODL.

You never don't know where the bottom is when dumping , that's the rule of this game .
Just buy at a price you can accepted.

No, the segwit2 +2mb code is not ready yet. so pushing it fast...they will either make the deadline and have a fork due to this or they won't make the deadline

UASF will then kick in

bitmain has said if UASF happens then they will do UAHF

so it could be just the start of going cluster***ck

of course, it is a bluff by bitmain imho they will compromise like they did on litecoin and segwitness gaining the power to miners and
having all that nice cheap btc they bought up...knowing they really are not gonna fork

then once we are all one happy family...and seg witness is done ..with some vague line like litecoin of a future hard or soft fork
to be determined in the future....the price will soar to 5k and many miners and whales will be sooooooo happy..esp bitmain

rinse/wash/repeat

the last great FUD to get cheap coin under 2k ....the process is in play imho

From a growth of 25bn to 100bn in a few months, the "Bottom" could be much less than 65Bn for a correction.

It's impossible to know, my guess would be even if the Market cap is 2x what it was in march, so 50bn and then became stable that would still be an incredible rise in value in such a short period of time.

The Market was full of people who saw the 4x rise in the cap and thought they could become millionaires in weeks by buying away shitcoins, then they get angry when it drops down instead of keeps its ridiculous rise. it was completely unsustainable for such a new technology with very few proven coins, I could make a coin and call it "buyme coin" write a very convincing white paper, get a market cap of a few hundred million and wouldn't have actually DONE anything to warrant that valuation.

i think the bottom will be lower, because we have two more week before 1 august, and the panic selling just started, bottom is another $300 lower at least, i'm buying now the dips, from stupid panic sellers lol, cheap coin will never be so cheap again, waiting next for when bitcoin go high again

Doing the same. We are going back down in a few hours.

It is hard to measure whole crypto marketcap since are quite different coins in it, but in it went from like 116 to 65 so it drop on like 56% what could be considered as bottom.  It happened similar in early 2014. Crypto marketcap went from $15b to $8b. But it seems that was not the bottom. Since in next year halved again. So that could be the real crypto marketcap bottom. $30b.

According to technical analysis, the local minimum is $1700-1800 for bitcoin. Near this level try to buy.

not yet. it may continue to 1 august. this hard fork issue must be settled first.