Bitcoin Forum

Hey! I know the dip have to happend after such "to the moon race". But itsn't it too bad? I mean we are looking at 20% losses last 7 (seven!!!!!) days. What do you guys think about it? I don't want to panic yet, but it scares me.

We've had it worse :D That's pretty much what I think about it.

Nope, this drop is definitely predictable. First of all, look at who's causing the drama, the CFO of Chase Bank! Of course he is going to be wary of Bitcoin because it completely goes against the fundamentals of his beliefs. The natural ebb and flow of investments is to go up and down due to the media. A good business is still a good business despite what the media may say about it. Understand that the media has huge influence when it comes to the perception of value for things.

It's not as bad as it looks.
BTC has crashed several times already to get where it is today.
This is just a small dip before a big price increase.

I recommend you buy more BTC while it's cheap.  ;D

We are still a LOT higher than 2 months ago.

Only 2 months. And we also got some bitcoin cash.

Bitcoin is and has always been volatile. I don't worry yet.

things seem _that_ bad?

Yes it is not so funny situation. But... But it is cryptos world.
If you will be patient you can wait until next x10 in 1 year. I mean what was from start of 2017 - all altcoins rise up in 10-20x.

Its definitely not as bad as it looks, the price is not continuously decreasing but is seeing a bumpy up and down ride with the panic sellers making the price look low. Looks like a combined effort by all the FUDers to make it look even worse and right now it is paying off because people are falling prey for it. I wouldn't be surprised if this was a move by the big players to get a grip back into Bitcoin with huge investments during this dip.

If you want to use %, remember mid July, when it fell to 1850$ from nearly 3000$. It was a 35%+ correction (or drop), right ? So, no, that's not (yet) as bad as it seems to be.

You can't rely on numbers, percentages, formulas, to decide if you can afford to lose your money or if you can hold long enough to see your BTC recovering. There's no science in here, i'm afraid.

There is nothing wrong with temporarily reducing the rate of bitcoin and other crypto currencies, even if there is a significant decrease. Recently, everyone has got used to the fact that bitcoin is continuously growing in price. It does not happen all the time. After ordering the circulation of crypto currency in China, its rate will again rise. Therefore, there should not be a place for panic.

Its great time for buying in, buy the dip and enjoy the cheap coins! July all over again.

This week the sky is falling, next week it's lambos to the moon, same as always.

I think its normal in crypto currency,
Anything could happen at any moment so we need to be always ready .

that is right that still the investors are there and they are trying to give support to bitcoin price, but the panic sellers are making the condition more worst from time to time, i am sure that the panic selling will over soon and after that the price will start increasing again.

I would have thought a pullback is good for the long term stability of Bitcoin and all the other currencies. Shows that it's not just being inflated by hype and that slowly the 'real' value is increasing year on year.

Yes this is happen many times btc always crashes and down to what we expected. If taking a risks it is good to buy and wait for the uptrend. It is win win situation by holding and you can get profit by still believing in btc.

It isn't so bad. China is only about 80% of bitcoin trading and China only has 20% of the world's population. If China shuts everything down, you still have 20% of bitcoin trading and almost 80% of the world's population. Unless other countries, like the US. follow suit and start banning things. But the odds of that happening are probably in the next year is only 50% or so.

It is only bad if you believe that BTC will never go back to 5000....

Panic and despair.

people felt that way in 2014,  BTC dropped 80% but after 3 years it was higher than ever before.... :-*

But no, there is nothing serious. It is that speculation, there is nothing concrete behind, just the fear of frustrated investors who panic and sell at a loss everything they have ... The bitcoin project is still as solid and it's not qlq% less that will make it less interesting. Squeeze your belt, business will resume very soon and there, you will have to be on the move so as not to miss out on great opportunities!

Forget about the chinese, The only answer that gives an impact in the future to build the decentralized exchange site which gives the more anonymous to the users and that will be more secure rather than use the decentralized exchange site. Chinese and US against us but Canada,japan and swiss are our friends.  ::)

There is no need to panic, the Bitcoin price is known by its volatility over the years, the price is going down and up during all the previous years since its creating, but if you see at its current price it is still not bad.
It is also predictable that the price will increase again after a while. Patience is needed when we talk about Bitcoin holding.

It is bad but indeed in crypto history this has happened many times before, only thing is now its getting big and surely people of much power and money are manipulating market prices, you cant say no!
Besides that these governments are taking cryptocurrency as a threat, governments have done far more evil things to what they see as a threat, so it wouldnt surprise me if they would ban exchanges and making it illegal to use cryptocurrency, they are evil and the do not stand for the freedom they are shouting!
In the end I hope governments fail and people of free mind and intentions take over.

I don't think what's happening on bitcoin these days is bad. Actually, it's good, isn't it? People will grab this opportunity to buy bitcoins at lower costs. We all know bitcoin's value always fluctuates. That's normal. Do not be scared that its value will decrease to zero. That will not really happen.

I think its safe to assume that it would go down to as low as 2k usd. This is all because of China banning crypto currency exchanges, plus the heat its been taking from all the big corporations.

Bitcoin goes up and down like this. Best time to buy is when it is falling like this. Not a fun time to buy, but that's how this works. BTC will rise again as adoption spreads. That's the way we all win. We have to increase adoption.

Not that surprising and not that bad. Yes a drop this big may seem bad to someone new to Bitcoin and it would be bad in the stock market. But remember that this time last year the price of Bitcoin was around $600 per coin. Bitcoin has had a huge gain. A price of $3000 per Bitcoin is 5 times what it was a year ago.

Now the price is around $3300 and it could drop more but Bitcoin has always been very volatile and will have wild fluctuations. The important thing is that it will probably recover and reach new highs as some point. It just appears that it rose too quickly and the bubble has burst.

Just don't panic and trust in your feeling, we do have the same feeling that the price now is still enormous so you don't have to worry. I have set an amount like $2,500 and it's like what everyone is doing now and when the price of bitcoin starts to be near on that price, there must be something wrong if the price keeps on decreasing.

Depending on what you have invested and what your strategy is depends on your outlook. If you bought in when it was close to 5k and was hoping to sell on the up then its pretty terrible. If you've invested as you believe in months/years to come it will be above 5k then it isnt that bad. The question depends on you personally

It is not that bad. It is just normal if you ask some who have so much experience in cryptocurrencies, especially Bitcoin. If it drops for more than 30%, it is still normal. Elites are not afraid from such kind of drop, they even wait for it so that they can buy some more at a cheap price. Nothing is to be scared of, you have to get used to this type of happenings and trust to the power of HODLING.

It seemed predictable but I'm still surprised a little bit because the first news from China did absolutely nothing to the BTC  price but for the last time when everything is a bit more clear we had such a big dump. It looks like some big "whales" droped a lot of bitcoins. I still belive in BTC and looking forward for any news that will help to predict when the price will go up again. Don't see any reasons for panic selling like we had before SegWit.

in my opinion is the speculation that moves the world and the market, so it is the ideal time to build a good strategy, and increase your investments!!! :)

we might see a downturn for a while but I don't think it will effect the price as badly as people are expecting... Yes, alot of bitcoin is mined out of China - that's the one thing that scares people.

Chinese bitcoin exchange volume has been pretty miniscule since Jan 1st, 2016... the vast majority of the rise happened AFTER chinese exchanges were forced to stop no fee trading and alot of their fake volume antics stopped at this time as well.

The last rise had larger momentum than the last, this indicates to me that it isn't over yet despite all of the panic at the moment. The rise from $1000 to now was extremely fast and there wasn't a real correction until now.

The only "if" right now is what is going to happen to the miners, how will they sell their coins and will they still be able to remain as active in the mining community?

This is big, but it's not MT GOX losing 1 billion dollars big... it's not losing the largest exchange by volume big... and it's not "bitcoin is banned" from one of the largest bitcoin trading countries. For the last year, Huobi/OKCoin/BTCChina added together has only been around 20% of bitcoin's total trading volume. If it was 50%+ I'd be more scared. More volume is coming out of other countries now, countries that have decided to embrace bitcoin and don't have so many capital controls in place.

In reality this could be a good thing, it could be the end of an era where Chinese exerted major control against both the price & hash rate of bitcoin, though I highly doubt they will give up their mining dominance.

Bitfinex is the clear winner by volume for the last 6 months... I'd be more worried about them shutting down. They pretty much do enough volume to cover all 3 of the chinese exchanges combined.

https://data.bitcoinity.org/markets/volume/6m?c=e&t=b

TLDR: China didn't have much to do with the 1k-5k rise in the first place.

This is normal bro ithink. .even now adays bitcoin keep crashing and its totally down. But this scenario always happened we dont need to panic .and instead of worrying  buy more btc so that you can get lot profit if bitcoin rise again..and also this is my first experience here in cryptoworld that bitcoin down deeply.  I hope this is just a temporary

No it's going to be fine. To let them get into your head means the suits win, and frankly I think that sucks.
  The few leaders with the deepest pockets are succeeding at controlling the beautiful decentralized payment
system we love so much.  Perk up people, it is going to be FINE.
🌺

The fall is only 20%, but already panic. Any currency is unstable, so the reasons for the panic, I do not see. On the contrary, you need to buy more until such a price.

for those who have been wandering in the world of crypto currency this may be considered normal. we must also be able to accept this kind of situation ... good luck

That's a really good and motivating answer. Well I guess I put my brick in a wall of fight with banksters. I just bought into bitcoin when it was on the fall. Waiting for the moon now, lets go!

Welcome to the crypto world buddy. This kind of stuff happens all the time in this volatile world and there is nothing much you or anyone else can do about it. Just HODL and save your coins because I am confident that you will observe profits in the future. ;D

Bitcoin is obviously a white-knuckle ride, easy to say, harder to do in practice but panic will not do you any good - in fact it is probably the single worst reaction. Think carefully, decide what to do. Do not give in to panic.

hey its technically not a loss yet if you haven't sold yet because if the price pumps after a few months, you'll get your roi or even profit from it unlike when you

already sold it, whether the price pumps or not it doesn't matter no changes will be made. when you're investing its just a matter of choosing and believing.

thats why i dont sell coins lower than its bought price

when we buy a high price and it turns out in the fear when the selling price starts to fall then we will increasingly torture ourselves with loss, patience will be very important in this case, waiting for the increase and avoid losses. convince yourself of the decisions you make.

It is bad if you do not have money to buy any bitcoin anymore. Otherwise it is still good because you can buy more bitcoins at a cheaper price. A dip is bound to happen because it was a very long bull run for quite some time now. This bear run will end and we will be back the trail to a new ATH soon.

I say no, it's not that bad. I beleive from the begininig that this dump will be short term. People think they have lost the money or made the wrong investment but that is actualy not true unless you haven't sold now under influence of panic.
And it's already seems that the price has gone up a bit so it might happen that in the next period will fluctuate between 3000$ and 4000$.

I do not actually care about it because I have witnessed the greatest crash after mtgox exchange crashed it turned the 1000usd price into 200usd so I guess this little step is nothing just some bad time just hold tight and wait till we get to that success road again. With bitcoin, we can always guaranty that we are going to have profit and its price is going to rise no matter what happens.

I don't think so that it is that bad dumps happens all the time,Bitcoin can't just keep rising up like anything.Dumps are expected as Bitcoin's market is volatile and unstable but due to panic many people just sell their bitcoins to avoid loss that is just foolish, a experienced user knows that this drops are temporary and bitcoins will rise so it's better to either hold or buy bitcoins at low value.

No I believe Bitcoin will prevail? Absolutely. It will also probably make a great long term investment, but in the short term the price may even drop further.

In my opinion, I think cryptocurrency market is very volatile, this is how it goes, they will always be up and downs. I am not panicking because of the crash, I think we should consider it as the best time to buy more into theses coins, invest as much as you can so that you can benefit when they recover. I bought a few coins last week when their values were still high, but now they have crashed. But I am relaxed since I know that they will always recover, and some have already started recovering.

Most of people are getting panic as per condition of bitcoin, no need to worry. It is may be a schematic way of game in the market to just make people sell their bitcoins so that buying will be higher. Take a deep breath, it will not be going worse, as it is just a dump, a normal dump. Relax and keep patience.