Bitcoin Forum

Bitcoin is now officially bouncing back! After such a bloodbath that occurred right after Bitcoin has almost won over the $5,000 wall and triggered further by the China ICO ban effect, we can now see and see that Bitcoin is already back for good...and it is about to get over the $4,500 hurdle (again!).

As I am writing this thread, Bitcoin is hovering over the $4,400 range and I am hoping that tomorrow or the day after it can be able to ditched the $4,500 psychological barrier.

Slowly, we are hearing less of the many prophets of doom and gloom and I am expecting that soon we can instead be hearing more of press releases coming from the other side of the isle: the prophets of boom!

Do you think we can be able to be back at $4,900 within this week?

4900$ again this week is not yet possible, in my opinion. The ICO banning of China is still fresh, at least in my scope. I can still read some articles about it in different platforms esp social media so I think the news has just started to spread. But then, we all know that the bitcoin community is strong enough. Maybe next week, we will be partying at 5000$ and more.

i don't know why you are calling it a "bloodbath", it was less than a 20% drop and that because of a lot of FUD and a lot of corrections during multiple steps, not just at once. and we have had huge drops like 35% in the past that make this one look ridiculously small. ;)

in any case i agree that we are back. i was expecting a little more time before we get back so close to $4500 but the market has changed a lot. i think more people are starting to realize the FUD and buy as fast as possible. before it took a longer time before they realize and start buying, now they all know!

As of now the price is playing between $4200 to $4500 , i think this week is really the bloody week for bitcoiners, but i do not really think that China will let Bitcoin's price will dip this very low since they have a large mining facilities but i'm not sure with this, i just hope it will go upward again.

You're kidding, right? Do you read the news? Every news article about Bitcoin is talking about crash and the bubble popping. It's hilarious. The media is too slow for Bitcoin swings. It also has a destructive effect. These late and largely void of perspective articles keep the new people, the newly curious, away from Bitcoin for a little bit longer. I hope the newly curious can do their own research and think for themselves...it's the only way to see past the doom and gloom that the media and pundits are preaching from the sidelines.

The price as of now is indeed bouncing back, that's true.
Altcoins, too, now started going up.
So, is it really because all of those fud, bad news around, and China banned ICO?
Well, and $4500 is possible on the next day, but $4900 within this week, let's wait and see.

He's a noob  ;D

A bloodbath was what we experienced in 2014 when bitcoin went from $1000 to $200 and then traded in the $200 - $400 range for another two years.

We should accept that china''s ban against bitcoin is a big loss in our industry but china is not the only country that dictates the price of bitcoin. We can see now that bitcoin is already bouncing back to its healthy form again. We shouldn't worry and continue in trusting the business

bitcoin market is very kind to its investors!

from time to time there are people who are left behind or want to start investing in bitcoin but find the price too high to invest or are scared because of the fast rise.
market smiles upon them and gives them what they are secretly hoping for: "a discount".
this time it was a medium discount and it only lasted for 3 days. you can think of it as the last summer sale. and now it is over.

There is no ban against bitcoin!
They have banned ICO's, big difference.

i'm slightly worried because several days ago majority cryptocurrencies price was dropped and china ban for ICO project seems only have temporary effect to bitcoin that since yesterday the price has bouncing back again however for those who able to utilize the situations and buy at $41xx seems had good profit today

You absolutely right!, Bitcoin back in more better shapes. Hiccups will surely happen to any crypto currencies, and what best thing with Bitcoin, it was immune to hiccups.

Bitcoin may decline in value for a day or two, then it will rage climbing for a week or more.

That's so powerful bitcoins. We've seen it just before the bitcoins have fallen to roughly 2,700 $ and climbed again to 4000 $ so it's not likely that it will happen again to climb a little bit more slowly. And I think it's not only $ 4,900 that can be raised if it is not $ 5,000 while the end of the year is nearing. So we are still enjoying it the time the bitcoins branches have begun.

Bitcoin should be immune towards ICO ban in China. It's not ICO based like NEO or Ether. So this small price crash was a good opportunity for hodlers to buy more BTC.

Yed definitely bitcoin is back,  after the shakedown China has given it.  And all other cryptos are rising as well.

In all fairness, it did get to almost $5,000 and is only $4,450 now which means still 10% lower than it was before.

i was very busy this week and i missed the dip myself. otherwise whenever there is a big dip like this i usually make a new topic warning people to "buy the dips".

this was exactly like the other times there was a big dip, a good chance to buy bitcion. exactly like the previous ones such as the $3700 dip in late August or the $1800 dip in mid July.

In my own opinion I think we can reach back that price within a couple more weeks for bitcoin has to be stable first before recovering from the China ICO ban news. But I do hope it could recover back by the end of this week, I think a lot of people are wishing for that to happen. Either way, no matter how many stones are thrown at Bitcoin it will always find its way back and make a good comeback thereafter.

Yes really bitcoin is so strong. And I think it is more powerful than ever after the 1st Aug. If has grown significantly after that day and only have a small impact of banning ICOs in china (gives traders a chance to buy it) And it back in its own track again.

It very possible that bitcoin is going to bounce back now as per the demands getting higher but it is also not impossible that the correction is not over yet. But in overall there is a great possibility of it bouncing now.

im all for the growth of bitcoin and all, but at times like these i would very much like to see some stability accompanied by steady growth. as i am typing right now, whatever exchange rate i have set on electrum is showing bitcoin valued at exactly 4500 usd per bitcoin, which is nice and all, but fluctuations of more than 10% either way in the span of a few days isnt exactly the most reassuring thing for bitcoin. my mind is set on the continual growth of bitcoin, but there's always that worry in the back of my mind as to how the next big piece of news might tank bitcoin and cause of chain reaction of panic sells, which would drive the price down even further. in the long term, stability is fundamental to bitcoin's future.

I agree with you...
It was indeed sensationalize by a lot of FUD.
.
But like with what you've said it will take a longer time before it can fully recover...
Even though we can say that the China's ICO ban was sensationalized it is still true that there is a dump that happened..
And for bitcoin to recover with the same price as last week, I think it will take a week before it can really come back...
But im so glad that the entire crypto community stayed strong despite the situation that happened few days ago...'
:D

"And we are back" erm yea of course we are
Bitcoin started recovering about 12 hours ago!
i wonder how many people are now hitting
themselves on the head for selling and waking up now
to a price higher than they sold at  ::)

panic over, nothing to see, move along

thats not possible for bitcoin reach again the amount of $4,900 if not reach that this week maybe next week will goes uprise again and again like the last increase almost every pumping the bitcoin price value, i believe bitcoin come again the power continues.

What bloodbath? Bitcoin made just a little brake from its upturn. Look where it was at beginning of the year. A bloodbath would for me be, if Bitcoin would fall back to 300$.

Fingers crossed this is the start of it going back up but im happy for steady progress, definitely wasn't a bloodbath, more a correcrion.

That is very possible and its just a matter of weeks and we are going to see soon the 5000$ value of bitcoin. We just need to wait for some time and by the end of September I guess we can see the smiling face of 5000$ value of bitcoin. The expectation on bitcoin by users is very high as they expect it to reach by 10k $ by the end of this year and I hope that will occur.

Wow. I really am so surprised by this incredible recovery. I closed my computer yesterday feeling relieved I did not buy a lot of prospects last week when everything was so high and got tempted to get into the market a little bit. Today I check the prices and see everything in green. This is Bitcoin showing off to the world it cannot be taken down. Next disaster, please!

The price as of now is indeed bouncing back, but it is unstable, is it really still effected by the bad news around, and China banned ICO? Of course, i do think if it pass by the $4500 psychological barrier this week, it will go back to $4900, just pay patience this moment.

You cannot always think that it will bounce back with last high rate it will take time to recover it fully. within this crash immediately it has bounced back 50% that is itself great and it shows how much strong the bitcoin community is

BTC is almost $4500 at this moment.  IMO, $4900 is possible this week or next week.

These kind of scenario is very normal to the crypto market. There will always be ups and downs. It is what makes the market lively. Many traders are very happy now like me because our investments are now back on it's track. The recent price downfall is also a good thing to us because it only means an opportunity to buy more coins on a cheaper price.

I think Vietnam having bitcoin legalized helped bitcoin's price bounce back even for just a bit. But I don't think that the bitcoin's price will still not be back to its level before the price plunged down beacuse of China banning ICOs and for this it will take some time before the market recovered.

it is not a bloodbath after but a 15 to 20 percent swing hurts a lot to an active short term traders but not for a long term hodlers. Volatility begets FUDding that's why many are panicking and much more affected by China's ICOs ban, we will through with it and BTC will be back again to normal hype.

It was always going to bounce back, there is such a huge demand for it not to.

I was just saying yesterday about Bitcoin's maturity and resilience, evidenced by how each "catastrophe" has only served to push Bitcoin back temporarily. If anything, this temporary is only getting briefer, allowing Bitcoin to gain fresh momentum to push for new ATHs. There is, however, still a voice at the back of my mind telling me that the long correction has yet to happen and will be nastier the longer delayed. But with this kind of recovery, it's hard not to jump on the optimism =)

I think we're in for a little consolidation at around 4,500 this week though. Still a ways before breaking - and staying above - that nice round 5k target. At any rate, anything above 5k before November will be a good cushion for possible bad outcomes. But go ahead and prove me wrong, Bitcoin.

It's great that it bounce back fast. I've noticed since the good rally started if there is fall it only takes 1day or few more and it's going up again very fast and gonna stay a bit longer on top compared to fall. Which is better for traders coz they can make profit in less time.

International new can affect any investment. Gold has risen recently due to US and N.Korea. Once that settles gold will drop. Bitcoin is recovering but there will probably be peaks and troughs before it reaches $5000 again.

I don't see bitcoin will be $4,900 this week but I am sure that it will be more than $5,000 by the end of this month. Bloodbath is over as of the moment so we will see a slow rise of both bitcoin and altcoins price.

uh man, again with the bloodbath :)
drops happen, sometimes they are even big drops. this time it was a medium drop or more accurately I have to say it was "2 back to back small drops".

and we are talking about bitcoin here, a drop in bitcoin is not a "bloodbath" it is a celebration. you are getting bitcoin for a much cheaper price than its market value whenever there is a dip. if you choose to believe the FUD and be scared of them you will never succeed in bitcoin market. but if you see past the bullshit and see the real opportunity that is presenting itself to you, you can make a lot of money.

see this topic to see all the same "bloodbaths" so far: https://bitcointalk.org/index.php?topic=1935374.0;all

I guess we are already back since the price has gone up again, touching $4500. We are seeing a price correction lately, then suddenly last Monday China's announcement have impacted the price and trigger somewhat a domino effect, pulling the price to $4000 so its a bloody mess. But yesterday and today the price is healthy again and it looks like most investors that pulled out is trying to enter the market again plus new faces who wants to join the hype train. Also, there are a lot of FUD that started which is the norm when the price is going down and target newbie's to dump their coin. But the dust has already settled, the storm has left already and now we may see a second attempt to get to $5000 and see if it is sustainable or really a mental barrier that needs to be broken again.

Yes, a bug dump notices us that bitcoin will soon hit the new peak. I trust bitcoin and whales. A small dump is a good sign for us cause whales will buy more and more bitcoin during this time. Soon, they will be back and pump bitcoin above $5000. Bitcoin is unstopable. Right now is the good time to buy more bitcoin because it can not drop lower than $4500 anymore

I dont understant why "we are back" when bitcoin has only been down for about 20% and it never even last for a month. Maybe, we should always remember that in bitcoin the only way is up. It may have dump sides but it is a 100% sure that it will be back again. The decrease may just be called a discounted days. Expect great!

You know what is the best part of this Bloodbath as you called it? Answer : When you buy in on the lowest point and you make a profit between $500 - $700 per bitcoin at the highest point when it recovered again. Most newbies are not used to Bitcoin volatility and they panic at the slightest drop in the price. <we just love that>

Most traders have a long-term strategy and when they stick to it, they make the biggest profits. ^smile^

yeah! good to hear. we all back to normal and for those who panic when they heard the news about chinese government banned ico and they rushing sell those coins they have to prevent losing. crying out loud. bitcoin is stable and steady no need to worry even the big government want to shut us in this business because they cant win to us. just continue holding your bitcoin, dont do over panic with those false alarm,

and now bitcoin ranging again from $4400 - $5000 and we can able to get back to $4900 or $5000 soon.

I do not know, I think is quite heavy for that gan, let alone the news that china does not legalize ico enough to make the issue getting worse. maybe one or two weeks away the price will come back.

Reading several blogs claiming that WS retail investors are ready to jump into cryptocurrency trading: when it's confirmed, price will jump higher over 5k

Yes considerably after the bloody bath of all coins and ALSO bitcoin. We are back and I think it is good for everybody right? Going back on their own profit right now.

I don't think that 4900 will be possible this week, maybe we will climb to 4.5k and remain there for the rest of the week, I think Bitcoin will be slowly recovering after the huge drop when china banned icos. People bought up at 4k since it was pretty cheap and are now pumping it back up.

It is really astonishing to see how fast crypto currencies can recover these days.
I would not have believed that the whole market can go down and up like that in two days if you told me so last week!
Now we have the next big goal infront of us, to take the 5K for bitcoin and stay above it!
Honestly I have a feeling that this will not be that hard at all.

Yeah, so much for a 'bloodbath'. People panic too much, but I guess it's good in that the price goes down and the smart people can grab some more Bitcoin before it hit's $6,000 next month.

              I just found this too funny and interesting ahahaha. Be easy on him i think, just trust what bitcoin can do, it is more than you can ever imagine. See and if you even check the past years bitcoin has ever conquered, bitcoin even manages to surpass those trials and look at it now? As the current price are you still doubting what can it do? I think not.

we already know it's possible; before the news of China's ico ban, bitcoin was at 4970 usd per coin. now it's just a matter of seeing at what point the price rise is going to stop, and if it'll remain there or start deprecating as a price correction.

I'd think so too; every event has some effect on an assets price and stability, even a negligible one. however, I don't think the full extent of China's actions have been felt just yet, we've yet to see a project of importance get shut down or delayed. we might be seeing some price fluctuations in the future if that's the case.

Here we go!

I think that the bad effect of the news China banned ICOs is already dying down and I think notwithstanding the more frequent fluctuations the bitcoin price upward trend will continue. I don't say what price will bitcoin be at the end of the week but yes it's going to be higher than it is now.

It is very hard to tell. And even if bitcoin will reach $4,900 we will not know how long will it stay on that support... I honestly don't want to see bitcoin below $4,300 because that causes panic to me and my friends. One thing is certain, bitcoin will be over $4,900 by december. If you would look at the chart you will notice that once the bitcoin bounces back from a tsunami, it surpasses the previous ATH. I am not a prophet though... CAVEAT.

it seems/ looks like it's a bloodbath or a backslide to newbies, Well I am also still a newbie and the last event seems fine with me it's not even a big dip though and we saw that bitcoin bounced back faster than the last dips, and i agree to other seniors here that 2014 is what should really call and identify as bloodbath and the biggest dip that lasted for almost two years.

The banning does not relate to the drop of the bitcoin price. Bitcoin is dumped because it hit the new peak. That is all. Now, whales are collecting more cheap bitcoin so that in the future, they will start another pump in the bitcoin price. They know that bitcoin will soon cross $5000. Nothing can stop bitcoin from now

$4,900 at the end of this week is possible. We are now at $4,500 and it's a fast movement of bitcoin's price when it fell down to $4,000. So we've got 4 more days before this week ends. But if it won't be reaching $4,900 at the end of this week then we can see it stable with that price at the end of the this month.

Well that is great news to hear but there is one little problem,

what do you mean with we we as in humans or we as in bitcoin.

I remember it a bit different: At 4970 the price started to drop, before the news were out. It was the fall under $4500 approximately that was probably triggered by the ICO ban/regulation (have still not read a convincing translation into English ... does somebody know one?).

So I think that the correction was more due to resistance at the $5000 level. It went lower because of the news, but it would have occurred anyway, because of profit taking.

I honestly doubt if BTC will see $4970 again in 2017. It's certainly possible, but I think we're now inside the well-known "dead cat bounce" or "bull trap". Maybe there is another bullish leg, but this bubble won't last forever (I predict a more substantial correction in October).

It seems we're going down to $4250 territory, but in crypto anything and everything will happen, this can be a bull flag and we go up, way up.

Are you guys shorting?

It's pretty simple to do the aftermath in this situation, China and other countries banned ICOs and most of these were funded by Bitcoin or altcoins. Since Bitcoin has no direct relation with ICOs, we can infer that it shouldn't have a major impact on the price of Bitcoin and it took some time for everyone to realise this after the mini crash. Now that everything is cleared up, I would expect it to be back on track.

I think that $4,900 in this week is a bit unlikely, but near future for sure! ;-) I also believed in btc to bounce back quite quickly and am very happy that I was right. Btc is on a very good path for the future.

I think the bleeding is only temporary, I'm sure the bitcoin will turn back steadily and go up again to $ 4500 and more, and I will soon happen, please do not panic to sell it if you do not want to lose, that's my advice.

If I think this week can not be because there are still disruptions from the Chinese government that has unexpectedly forbidden the existence of ico so it could also affect the price development this week. Maybe after a period of 2 to 3 months new can return to the previous value so we still have the spirit in finding coins from the bounty.

The same view I share with you because the set back is always temporary but that will be to someone who is already used to the way things are done over here but for someone who bought at the peak of $4900+ its going to be a long wait which is most times discouraging for having to check the price every now and then to determine what is really going on. Everyone is optimistic and hopeful that things will turn out well as the recovery path is already set which I believe its going to be kept alive.

I am not very much sure about the time bitcoins need to reach the previous highest value but it appears to me that bitcoins are again going to put on a great show. Feeling enthusiasm in the air!
Last few days were really horrible, like a nightmare and finally the dawn is breaking now.

Bitcoin value has finally recovered from the Chinese storm that recently took place in the market. Hoping to see more better days of bitcoin and the rest of Altcoins too. :D

I don't trust this upmove. The volume is lower every day, and Bitcoin isn't still able to create a stable upward price channel. I think it's a bull trap/dead cat bounce.

There could be a new attack to $5000, I'm not ruling it out, but I think it will fail. There is also a possibility of a bullish-looking triangle, for the following weeks (with an intermediate downmove to ~$4200) but it's too close to the November fork, so I don't expect a break-out to the upside.

As I already said in another thread, be very, very careful (https://bitcointalk.org/index.php?topic=2157810.0;topicseen).

yes we could have bounced back close 5000$ but then again chinese are playing around with the market now with some chinese exchanges ban rumours .

And we're down again.... damn that chinese government

Hahahaha finally it happened. Many people were really tensed as the market was showing some anger towards profit. Many of them just got panic and sold their assets getting not much profit. So it is good that the things are getting out of the whales somehow and market is reviving again.

Oh cheer up ;-) it's already getting back on its feet. Today is a better day for btc. You must not lose hope every time the price drop a bit. See it as an opportunity to buy at a lower price.

Correct, the price is going green now trading at around $42xx and possible going to $43xx at the end of the day. Yesterday, I though that we are already in the road to recovery but somewhat another dump has occurred pulling back the price to $4100. Hope that today is gonna be a good day for cyrpto because I'm seeing that almost coins are going green once again. Let's wait and see if this will continue up to the end of the week. For holders, this is a good day for them seeing that the price has somewhat increased.

The blood had stopped flowing, the Green is back. I hope the BTC will keep the price of $ 4300 to the end of the day, and continued to bounce back in the next day. The panic is over, you think BTC will reach 4500 $ by the end of September this?

I also noticed that, but one should look the timing of the announcement as well. I think some may have already a inside information that the Chinese is going to release the ICO banning news that's why 2 days prior upon reaching the top, there is a sudden dip, maybe investors are cashing out, or some Chinese investors has started to dump before the news comes out.

I don't know why people are creating a fuss out of China's decision. Let them do what they want. They haven't made any harm to BTCs. In fact those guys are among the top five nations who have supported bitcoins. ICOs are a whole different issue as you said.

And We Are .... Back Down!

I hope many of you have followed my advice (https://bitcointalk.org/index.php?topic=2157810.0).

Well, the further down it goes, the less dangerous it is to re-buy. So below $3500 long-term bulls and daytraders (because of likely bounces) can begin to think again to fill up their wallets if they're impatient ;). But as far as I know the fork danger for November hasn't ceased. So a dip under $2000, even down to $1000 is still a possibility.

Yeah, I like the crypto market has some FUD, it helps me have many opportunities for shopping altcoin and Bitcoin with cheap price while panic seller from anywhere ;D. Buy in dips price and sell when all traders feel happy ::)

Yes we are going in the old times, as China banned ICO, the growth of bitcoin disturbed, but now it is good that bitcoin is receiving its old position back steadily and slowly. And now it will regain the impact of its users.

I saw the price before the scam of ICO, and I am also looking the new trend in bitcoin investment.I think it is a positive thinking to be the investor and user of bitcoin because of the market value of bitcoin.

The price of bitcoin is falling again because of the same FUD but just in a different date. There is a spreading FUD that says bitcoin and other cryptocurrencies sales are getting banned in South Korea and that is a bad news if that is really true but the reality is, it is just a FUD and you can take advantage of that because you can see the same FUD but it turns out nothing and the price of bitcoin is going up again. So for me, the history repeats itself.

Any article that could support your claim about the spreading FUD from South Korea? Or any reason why South Korea wants to ban these cryptocurrencies based on that FUD? As far as I know, South Korea is a great supporter, so if people will also get panicked about this news, it would also affect much of the price.

isn't it just that ICOs are being banned in South Korea? I didn't hear anything about crypto altogether... Also, there's been a speculation that Chine might lift the ICO ban after some elections there, you have the article somewhere on cointelegraph.com.

7000 before the end of November.

I will not be suprised if we get to 10K over December!!!