Bitcoin Forum

Bitcoin is falling down...falling down...falling down...where is my fair lady? Whoah...Bitcoin is having a carnage right after undergoing some bloodbath for some days last week. This time around it officially entered the area below the $4,000 mark and can get down to as low as $3,500 soon.

I am not really sure what can be the catalysts for this fast dumping but I think it has something to do with the rumor that eventually China will also be banning the operation of Bitcoin exchanges all over the country. As many parts of the world are battered by many natural disasters, Bitcoin is being massacred by bad news emitted by China.

How do you feel about this downturn?

Probably because of China possibly banning exchanges soon, and because of the recent Tweet of Charlie Lee (litecoin founder) saying that China finally banned bitcoin; which we all know is untrue and unconfirmed. Though Charlie Lee already deleted the tweet recently probably realizing what he has done.

Also, the "banning" of ICOs recently also did a significant amount of drop in price.

You are right that the banning of ICO's did a significant amount of drop in price and also the possible banning of bitcoin exchanges on China all over the world created this panic and I expect to see FUD lovers like kwukduck showing up posting about bitcoin's doomsday. Either way I see bitcoin going way down more since the dump probably is just getting started. Therefore, I expect to see bitcoin's market being bearish for the rest of this month but I would also like to see the opposite if it were to happen.

That's so LOL by Charlie Lee.  For a guy who has been in crypto a lot longer than most of us, and a founder of one of the most popular alts at that, he still acts like your average trolling Bitcoiner.  I love it!  :D

Anyway, maybe Charlie heard some solid info from his brother regarding China's ban?

I think exchanges in China are trying to hold the 4k because they will not have the money if people decided cashed out. There is some rumour that people are facing difficulties to take the money.

Don't worry about this, it's only a temporary issue caused by random events and FUD from scaremongers.
Ther problem with China banning ICOs and the panic that followed is nothing to worry about.
This new lower price will simply create new floor and great entry point for new investors to join the hype train.

some time ago i would have been mad about people spreading FUD but now i say why not!
when there are panic sellers around who will be providing you with easy profit just because they are idiots, why not take advantage of them. we should milk them dry until they either leave this market or stop giving us milk ;)

Yea, he seems to like bashing and trashtalking other altcoins real hard on Twitter.

On his deleted tweet, he seemed so confident with his words. He said he got the information from a "trusted source". Is that "trusted source" accurate in giving information? Give it a few days. Only time will tell if he's right or not.

This drop definitely has to do with the whole China news going down. I suspect that a lot of people see this and think about how big of a player China is in the bitcoin game, so when they see the news about China "banning" bitcoin, they start selling in fear. The drop will be rebounded in my opinion, and I don't think bitcoin will fall below 3,500. I can't be too sure of that though, we just need to hope that the bad news is followed up with some good.

We don't know with his "trusted source" who knows? Maybe it's real or maybe it's not and he's just confident on what he says. It's really giving a lot of holders decide to sell what they hold now.  I hope it won't go down at $3,500 and it's just going to be at $3,900 and will stay there. I'm going somewhere now and I hope when I come back home it will be good at $4,000 again.

I personally feel like it'll take Bitcoin some time to rebound back to the $4,000s because of how linked China and Bitcoin are. The impact that this news has had on Bitcoin so far is what made it turn around from the upward trend when we were close to $5000. Just looking at data, there's gotta be a rebound from the downfall, but I don't think it'll take us back to where we were initially, at least not in short term. This whole China situation may actually even stabilize out Bitcoin's volatility slightly, we'll have to see.

I dont' mind bitcoin falling down. I would even invest more while bitcoin is down and the other altcoins. I think it's the perfect opportunity and its best to exploit and invest in cryptocurrency while it is weak.. Given 2 months or more and it will be soaring high again. There are events like this in the past bitcoin dropping down but look at it now, still more than $3500. Go at it while its more affordable.

Lat few hours the price of bitcoin is 4100 dollars but if you see the price this time its down at 3990 dollars. So if you want to buy butcoin youcan and for sure after few months of holding you can earn a lot of profit. But remember invest only you can afford to lose because we dont know what exact price of bitcoin. More bitcoin that you have more money or profit to come with you. I think this the effect of china ban bitcoin but dont worry it will recover again .

BTCChina is well and trading. While that's working, I think that is only just a new market manipulation.
Now Bitcoin will fall, some will buy, then it will grow again so they can sell, then the SegWit2x story will make Bitcoin fall again so they can buy again.
These fluctuations make some people very rich and some kids lose their lunch money.

It's bouncing back and as seen in preev.com it's now $4,020. I'm guessing that we will see the same thing on what happened after China declared the banning of ICO's. And now it's the exchanges, so these two has an impact but bitcoin is just stronger than before and it's bouncing back again.
P.S: I'm still at home.

Bitcoin is moving around 4K at the moment.
In general I would like to mention that all this fear about the falling price is complaining on a very high level.
Look six weeks back, we were at about 3K that time. And now we have all this fear and complaining when we are at 4K.
I can't shake the feeling that people are expecting a little too much form bitcoin.

I personally don't feel anything, bitcoin had been fluctuating ever since so what difference does it make now that it had drop down its value again? As usual after the price drops it'll recover after so I'm not that worried though.

Bitcoin can still be said to survive in the figure $4000 and in my opinion will not be far from that number. It seems that price movements are actually getting down but i'm sure bitcoin price will increasing again and will not drop to $3500. Don't let this decline breaking a spirit to get profits from bitcoin, it's good we can take advantage in any conditions to having plans gain profits.

Yea, remember all that FUD i was warning people about Core coin crashing hard, that was all nonsense.
It's not crashing at all!
It's still going up up up as you can clearly see on the charts. LOL
I'll just eat popcorn now and watch y'all lose money.

A big part of the reasons why bitcoin is dropping right now is because of the fact that some person that has nothing to do with bitcoin said publicly that he thinks bitcoin is a fraud and will collapse soon. It may be a bubble and collapse soon, but BTC itself is not a fraud by any means.

This plus the recent China FUD seemed to have a very negative effect on the price.

I think that short term wise once the FUD clears away we could see a recovery, and potentially $5000+ levels. Great time to buy in now.

I have the same opinion with you. do not worry and panic look at bitcon prices, because we all believe that bitcoin prices will always stay at the 4000USD rates, although down may be only a few percent. wait a few days ahead what will happen. our decision will indeed affect the results we will get later. for me this is an opportunity to buy bitcoin at a cheap price, do not lose the momentum to continue buying because bitcoin prices will be greatly influenced by our attitude towards bitcoin usage.

It's not fallen much.Getting to 4000$ and then bouncing back to 4500$ is common for bitcoin these days.I think by next week we will be sitting at 4500$+.It is a good time to buy if you can.Panic sellers/week hands gonna sell over some stupid guy comment.BUY THE DIP  ;)

Lol these reactions. Bitcoin hasn't fallen much.

Naaah it has only lost twice last years entire marketcap in less than a week.

You guys want another trip to the moon right?

This is your chance to grab and acquired more coins. Once the price increase again, Im sure there will be comments like "I didn't able to buy last $3,900" or something like that. And for others that still waiting for $3,000 or $2,000 goodluck on waiting.

And i saw a lot of posts lately stating they wanted the price to go down so they could buy again. Well for those who did buy btc during its peak, if there are, i guess you just gotta wait longer time for it to increase. I believe this is but normal because a lot of dumping happened lately when the price went 4800. Will just have to wait another week if the price would at least reach 4500 next week.

This is probably the main reasons why price went down and from this point it will take month or two to recover or maybe it will continue to drop. But this is something that is expected from China to do they dont like bitcoin and they have enough law souits with failed ICO investment from them. Until this matter is solved price will go down.

Usual shake-off of the weak hands and panic kids. Lucky guys who traded BTC/XVC pair tho :D

I'm feeling so sad if bitcoin is falling down
China is influential countries with the world economy
but.. I don't think so
in my opinion, China impossible be banning the operation of Bitcoin exchanges all over the country

Ya true. Bitcoin price is now of 3800$ ,so the price is keep on decreased in passed two days. So it is very sad to see this. Even I had inverse in bitcoin. So I am waiting for the value reach again the peak .If so I will sell the bitcoin. or else wait.

It's really very bad time now, I have 0.5 bitcoin to sell, it's not much but I was looking for a good time, I was out and missed a chanse to sell it when price was nearly 4400$, than started fall and I had hope of rise again but seems I now I have to lose some houndred dollars. Don't know still wait for a little high price or sell it until it's not late.

If you already lose some and you don't need it tp use urgently ,maybe you can still consider holding it. Bitcoin will soon to rise even without Chinese investors but it will be for a long run maybe by the start of next year it can recover if China will not remove the ban.

There is no guarantee - at all - that Bitcoin will rise again, especially given it is in a bubble and has been in that state for a couple of months already.

When Bitcoin recovered after the 2013/2014 crash, there was little real competition out there. However, the cryptospace has become much more crowded, with several possible alternatives for BTC out there. More advanced, newer tech that is. You'd do best to keep that in mind before you start making predictions like 'Bitcoin will soon rise even without Chinese investors'. There is no way to be certain, at all, about that.

At some point the bull market comes to an end. I am only asking you and like minded persons to think twice.

Looking at its history then China is one of the developed countries. I also believe that China is unlikely to ban the use of bitcoins. But of course there are considerations to be considered, maybe the Chinese state has other interests. I speculate that china will make a new altcoin and when the bitcoin price decreases there will be many who will glance at the new coin. This is still speculation but the fact is that bitcoin prices continue to decline without stopping.

the movement of the price growth at the moment is undergoing a bitcoin falling down reached $3800, some angaka day yesterday bitcoin had hit rates to numbers $4500 then declined again to $4100. but this is a very good time to buy some bitcoin so we have a big advantage at the end of this month because I'm sure this will happen after price increases rises until it reaches the $5300.

This is shorters' paradise right now as the price keeps on tanking and fluctuating every 15 mins. Some sources say that we can still experience a brief touch to $3500 by the end of this week. Though the majority of the trade volume isn't located in China, the news absolutely made the market shake and npanic, causing uncertainties to many investors.

I personally like where this is going, considering that I'm still waiting to get a nice entry for a long position.

If we look at the fact that the development of bitcoin is influenced by big players in China and with such events could cause panic for other users outside of China so they feel afraid of the declining bitcoin price, of course this should be thought of all parties involved in Bitcoin to anticipate a similar incident that often makes bitcoin users panicked.

All are bit concerned about its downfall because of China's decision on bitcoins. But there are many good deeds happening around. Japan has decided to get into mining with large investment. I had to read a post on this. This is going to make the transaction much faster with less transaction amount. Good to see this positive messages when just hearing of bad things of bitcoins.

How many times they are going to make fools of us? Once in a while we have disastrous news and so called crash. Every time we can see pessimistic expectations and social medias full of horror stories about Bitcoin investors..And nothing happened   BTC going up again. Last time  i have sold at 1000  i was cough in this panic game. Now i don't care about their news, just holding my BTC's and altcoins.

This is exactly the case this time around,even when the market was around thousand everyone was afraid that the price would fall back and crash badly and instead the price kept climbing till it reached these dream valuations in very short months and even now the panic strikes are back and newbies will fall for the trick and the price will recover and keeps on soaring very soon.

Well the main reason behind the falling of bitcoins is China. Most of bitcoin user may not aware about the tweet of Charlie Lee. He said "China finally banned bitcoin". But after few moment Charlie delete the tweet. Because its still not confirmed yet. Also You can Blame the ICOs banned is the ony cause of bitcoin price down fall.

Ya true. The price fall is due to China. But now I had heard the news of they get back the banned. In past two days the price of bitcoin is stable in the rate of 3800$.Even it crossed the value of 4100$ today.This shows that the bitcoin again raised back to It's originality. You can see the high value soon.

Yes, the price of bitcoin  felt as low to $2900 in a very small time period. This happened when the issue with China was on fire and not got a  conclusion. Now the price has crossed the $4000 mark and soon this will be going higher and will create new ATH. Maybe we might reach $5000 or even higher.

At this point we can see it is fairly standard Chinese FUD, we have bad news liked to ban of leverage trading and next bank transfers and yuan trading has been halted for some time.
It is another level of the same strategy, it is not like we won't have yuan to BTC trading at all, we won;t have big exchanges - most Chinese traders moved to p2p trading anyway.
Services like localbitcoins will start to shine, even more, nothing can change in the long run. Stop panicking.

Guess that Chinese must be crying over their moves they tried to play all of a sudden and created an environment of panic.
The decline Bitcoin faced due to them was harsh but what was surprising to me and anyone here was the recovery in just days after it fell down. Your predictions for it to be under 3k became air when it started gaining hard after reaching to those dumping levels. Obviously there were many pessimists who wanted that everyone sell it and they buy the hell out of it once again, so I congratulate them who became wise and bought Bitcoins during its declining period. Guys, those who bought near 3k must be having 25% profit at least atm and feel pity for those who became part of the panic and sold off their hard earned coins under the influence of all this Chinese melodramatic act.

When did you post this because it is nowhere near Polly? I've seen these Post in these threads all week long and the fact is that there are very small discrepancies and very small drops there's nothing anywhere near what would what would be considered a drop. I don't know where everybody's getting their information from because it is holding steady at 4,000 with very small drops.

It was because of that china issues because of them bitcoin has gone dow by a 10% in weeks  but not always it because som investors have shutted down and more  else but this will be recovering because bitcoin always recover

I guess about the ups and downs of prices on bitcoin is already a part of
Bitcoin system, certainly some parties use it as an opportunity to gain profit, and although the last few weeks bitcoin prices had dropped but I'm optimistic if bitcoin prices will continue to increase again because bitcoin has good market as profitable business.

Every time when the bitcoin price declined dramaticallay, it saw another all time high price after that decline. So we can easily expect $5000 soon for bitcoin's price. And $400 for ethereum.

Agree, sometimes it is part of bitcoin system but there were instances that bitcoin value was fall down due to unpredictable problem that experience of crypto currency. However, I believe that after this bitcoin fall down it was increase again, all we need is to wait and be patience.

It's because there need to be a correction to allow people to cash out their profits, but at the same time attract capital to enter the market. Nothing in the world increases in one straight line.

People here shouldn't forget that a lot investors are very short term minded, and thus are guaranteed to cash out their profits after a while. Funny thing is that these people quite often end up re-entering the market at a premium.

Bitcoin has been growing in value constantly, and if we look at people who thought to had a good deal by cashing out at $2000, they can't be anything but disappointed in themselves for doing so ~ Bitcoin doesn't wait for anyone.

If you sold too early, you either wait for the price to fall down, which might not even happen, or you buy back at higher levels ~ everything has a risk involved, but the latter mentioned is the best option, long term speaking.

It is falling down. Because of some news and China dramas. It's really really sad, bitcoin is decentralized but on this situation it makes not decentralized anymore.  ???

Bitcoiners eyes all over the world are on China govs, people are getting ready to dump their bitcoin again just in case China regulators completely ban bitcoin, including mining pools. Current price keep declining since few hours ago, not sure why but maybe it will continue to drop.
It's inevitable how the market react according to China regulation about bitcoin, since there are more good news about bitcoin development in Japan and Russia.

Bitcoin is still falling down right after the recovery from the previous dip.  I do not know what caused the dip now though I think the support had already exhausted making Bitcoin price to go down below $4000 again.  I think it will continue to fluctuate this way until the market is clear of this Chinese FUD.  Sad we have to wait another month to see the real effect of closure of exchanges in China.

Interesting view. Bitcoin can lose price like now to attract more people to start investing in Bitcoins, especially those investing for the first time, giving them a chance to buy cheap and hold for future profit.

Who is buying or holding and expecting profit on short term is doing it wrongly. Bitcoin is an investment for who doesn't have a deadline to cashout, it's for people who wants to invest and forget about it for a while and come back later without worries.

You guys have different theory and i think that is why the price of bitcoin was fall i think it is a normal that we are seeing the price was decreasing these days..  There is a bull trap maybe that is why we are seeing price drop..
But i think it will not keep dropping instead we will see more price increase after clarification from banning bitcoin in china forget by many people.. Honestly ban bitcoin in china is not a real problem here if bitcoin was ban in china well that's good honestly we will be safe because there is a big influence in china buying bitcoin i think it will not happen again so that we will see slow and normal movement of the price of bitcoin..

I think the price drop will go until late October - well this is a good time to buy some bitcoin, I hope by next year the price will rise again - Hoping it will hit $5000 mark next year.

I'm sure this is only a momentary panic, this is because the issue of china banned bitcoin so as to make the price drop, in October everything will be back to normal because the issue of banned china or not and I sure will nothing happen.

I think the current bitcoin price is pretty good at $ 3700- $ 3900, it's now a good time to buy bitcoin as an investment in the future because it seems like the next few years bitcoin prices will soar may reach $ 6000 next year

This is happen many times bitcoin falling down or fluctuates daily. But I am confident this will survive and it will recover. Yes probably because of the China issues but lets observe the movement of bitcoin.

Agree, it happened every year and seems bitcoin was not affected regarding that situation. Since bitcoin is always recovered after deep and after this fall down bitcoin valued was become more expensive than the previous. Obviously that fall down of bitcoin value is part of their strategy, maybe this is their way to encourage more investors to put investment into bitcoin society.

Well Bitcoin didn't have such discrepancy the last few months since the last Fork/Segwit. I mean yeah I also think that it is not kinda of thing that can be considered as a 'drop' but hey, the banning of China did cause a ripple effect in the price for the past few weeks. But then again it is not a major problem, though I also think that it made the progress of rising the Bitcoin's price resulted a halt, we it drags a little of it if you know what I mean.

But as we can see after the news that china start banning some of crypto currency exchange the value of bitcoin start to dump because lots of big investors not only in china even in other country start to withdraw their fund before the dump that is why i think that was the major reason why value of bitcoin experience the huge dump last week.

There are many analysts who are sure that the dump was provoked by whales, who simply decided to buy themselves coins at a low price. In the future, the cost of bitcoin will be very difficult to keep

In China, some trading are block by government. They thought bitcoin will replace their own currency. But and they found It's not all possible.Also there are lots of Investors are in China. Even though they stop trading, still the price of bitcoin is remain the same.The price is not goes lower than 3500$.