Bitcoin Forum

Jesus, man.  What a time to literally just enter the market.

After setting up my platforms and dipping my toes in the water with a few small buys, I sat the last 48 hours, with my finger on the buy button for 1/3 of a BTC.  I watched as it dipped, and dipped.  I was a half a second away from clicking "buy" as prices dipped to $2,950, and I didn't do it.

...then I watched it rise to $3,700 in mere minutes.  

First rookie mistake, I suppose.  

I live in China, and will see how this day plays out.  Hoping for a dip around $3,200 today as China does its thing.  Knowing enough about this whole deal, I know I shouldn't wait too much longer.  

What I saw last night blew my mind.  So much panic.  So much misinformation.  So many "IT CAN'T DO THIS.  IMPOSSIBLE." followed by it doing exactly that thing.

Hell of a ride last night.

Cheers to you all.

I didn't sell a single satoshi. I simply made some popcorn and watched the market crash. I knew it would turn out okay in the end. I didn't expect it to go below $3000. The selloff was getting ridiculous and reaching a nonsensical level so I expected it to go up again.

Turns out this is the all-time record of a bull candle over 4 hours. We never have seen such an increase in price ever before, and this has happened without the chinese buying. China has been expossed as irrelevant for Bitcoin to skyrocket.

Same here, Its only a drama. A negativity that  is being amplified at a greater magnitude,also JP Morgan CEO rode with negative news also.Attacks coming from left and right is so much that let the bitcoin price to dump. Its normal and same with you @AtheistAKASaneBrain, I just watch the bloody market drama. 

It would've been nice to purchase around the $2,000 area.

My thought was it may dip even further.    As prices hovered around $3,000 and pinged between $3,200, I should've pulled the trigger, but a mere hour and it skyrocketed.

First mistake in the game.  Should've stuck to my decision at $3,000.   :-X

Tempted to buy in at these prices anyway.  

My brain!

Good! I held my coins and was waitong for an upswing.. didnt think it was going back so soon tbh. byt BTC is back, once more :)

Welcome to trading. How you describe your emotional reactions is exactly what it's like to be a trader trying to keep his emotions in check. It's a constant battle keeping emotions out of your trades, and sticking to your plan. It's a necessary discipline that you develop over time (or otherwise, you find another way to lose your money).

The other thing about being a trader: Our positions are always too big on the losers and too small on the winners. That's just how life goes. The key is to find a system that is profitable.

the dust is not completely settled but it was surely a very interesting period of time!
the FUD was even completely irrelevant to bitcoin and yet they dumped bitcoin price using it. and like always the number of "throwaway newbie accounts" went through the roof (it was the ATH of that ;D).

but the most interesting thing that I have found out this week was the fact that JP Morgan and other major banks in US have heavily invested in bitcoin. and possibly many other big players known in the economical world have done the same.

Some of the same here. I literally woke up to 200 ETH/3000 BTC, but I wasnt sure if that was indeed the bottom, so I held my nuts on the trade. Huge mistake. I could have gotten an easy 20% in the next few hours, and taken additional profit on the dips. but thats half the problem of this space. the volatility of this makes for great profits if you can ride the waves successfully. but this isnt something you can build a stable budget on, its purely a speculative asset at these prices.

the expected dip is around 2500-2300 USD basing on the previous 2-month performance and that is the right time to buy back, i am still waitnig it until next week for that dip, but suddenly it bounce back to 3500-3700 and it never given me a chance to gain good position, although bullish was recovered then a healthy market resumed so as the other crypto. So just HODL until it reach 5K ATH.

You missed a glorious chance, and I can understand why you did that, I had been telling people, buy in every dip, and do not sell your coins, I am very glad I was able to buy at dips and I held on to your coins, see Bitcoin is very volatile, you get the chance come in or exit, but then again what's the right time to enter and exit is really difficult to say, so has to be very prompt in making a decision and not just sit back and take a chance, you will learn over a time.

It is hard to be 100% that "dust has settled". After the first news from chinathere was almost no reaction on bitcoin market and only after some time we had this dump. It is still possible that something can still happen.

Yes I agree with you. Saying that dust has settled might be a little soon right now, for all we know this could just be a bullish trend which will come tumbling down soon. But if Btc really did recover from $3000 to $3700 in such a short time then that's a tremendous progress for bitcoin. In either case I am going to HODL till 5k and even after that.

Some article said that the price of bitcoin would play around 3000 for a while and it turns out to be true. Well i dont sell and dont have the money to buy even if i want so it doesnt affect me much.

Yeah well, there'll be plenty more buying opportunities.  I don't think what you did is exactly a rookie mistake, either.  No one knows where the bottom of any market is, nor the best time to buy.  Hindsight is always crystal clear.

Me, I did just fine because I don't own a lot of bitcoin and wasn't in need of money, so I didn't sell any.  If I was deep into the market I'd probably have been sweating bullets.  A drop of $1000 over the course of 36 hours or whatever it was could have necessitated a barf-bag.  The only regret I currently have is being piss poor.  I'd really like to buy some bitcoin right now, because I think we're still in the midst of a raging bull market and it's a decent time to buy.  But I'm definitely grateful I'm not one of the sheep who got slaughtered.

Yeah well I feel like a real old timer. I'm not worried about the dips because I got in early enough that if we dropped 80% I would still be happy with what I have. It's not always about the fiat value. Sometimes it's just the fact that bitcoins are worth so much more than this and any buys now will seem so small in the future.

At this time I'm really disappointed. I'm waiting transfer of money and it delayed about 3 days. So I lost this super opportunity to buy bitcoin and altcoins.
This China I think now happy and rubbing hands after bought low bitcoin or bitcoin cash.

I don't have money to buy more also. I know that this storm in bitcoin shall pass and sooner or later it will go back up again reaching new all time high again. When I see some people ranting about bitcoin in social media saying that they will never invest in bitcoin again with all the profanities, I know that we are almost at the bottom because that's how the market cycle goes.

Many studied the bitcoin price and it follows the Elliot Wave Principle, we are in wave 4 now going down and then going to wave 5, we will reach all time high again. All this news I believe are just manipulation of the market so that some more people can buy bitcoin lower to have higher gains in the future. I did not sell a single satoshi when it go down because I believe that bitcoin will rise up again.

There may be a steady increase on the general price of bitcoins today but we need to consider the ban of China onto trading bitcoin platforms by September 30, 2017. Nonetheless, people who bought bitcoins when it reached $2960 profited from their investment from now. Like you said, it is best to wait and observe the prices in the market since the ban's impact may only be felt after ~1-3 months from now.

you should never do that because it is always going to be impossible to catch the bottom. that is how market will always work. the absolute bottom of the dip lasts only a second.

you can see the charts for other examples too.
the $3600 on 22/8
the $1830 on 16/7
the $2120 on 16/6
the $1850 on 27/5
the $891 on 25/3
are the examples of the bottom of the dips of this year and none of them lasted more than an hour.

to catch them you need to place buy orders ahead of time.

sadly this time i did not have that much money to do it but i placed some orders below $3K with what i already had and bought some with it.

we are too afraid to buy bitcoin because we don't know what is going on and i think its speculation for us if we want to buy now. we are too often missed the time to buy or sell and we regret it for the other minutes. the most important lesson for traders is don't be panic no matter what is happen and stay calm while we need to find the other good news.

since you live in china, i wonder is it true that your government wants to banning bitcoin? because in out there, too many bad news that makes people panic and bitcoin price is fallen too deep like yesterday. but i don't think that bitcoin will be banning like many news said because bitcoin is too expensive right now and nobody won't missed the opportunity.

That's one the common mistakes a newbie does in the world of rypto trading. :) Most bitcoin owners sold their bitcoins by the time the bitcoin price was dropping until it reached $2,980. What they don't know is that, after they sold theirs, the buyers have the last laugh as bitcoin immediately rose up. Now, it's back to $3,800.

My tip to newbies: ask for some suggestions from experts on what to do when this kind of movement in btc (and other altcoins) price happens.

Damn that huge green candle is impressive, I have never seen anything like that. We went from $2972 to $3820 in no time. I bet people that trusted Goldman Sachs (which claimed it would go to $2200) and had shorts opened for as low as that price are now pretty much broke. How could you doubt bitcoin? it always comes back.

The sell off that followed was tiny compared to the green handle we had. We are not going below $3000 again, possibly ever.

Checking on the charts that green candle was indeed impressive and for those who bought on 2900 would really dance on ez profits in a single day swing trade.For those who did able to get in the right time.Congratulations! Those are easy profits without a sweat but somehow risky because we didn't know that those entries might give even more negative if the price did continue to dip down.

The dust is far from being settled. The situation in China is not 100% clear yet, although the latest indications are that the exchanges will be allowed to operate if they could reach a deal with the authorities (which looks very likely as of now). And the exchange rates are swinging as much as 10% up and down in just 3-4 hours. It will take a long time for the markets to stabilize.

I'm curious if you were doing this for a trade or for the hodl? Either way, when buying a pull back have limit orders resting in the market, it's often too quick to pull the trigger at the right moment. You can always still hit cancel if you bottle out at the last moment.
If you were buying for the hodl then scaling in gradually on the way down is a good strategy. It's often hard to know how far it will fall and you don't want to miss out if your buy zone is front run. Start off buying small and gradually increase the size of each buy, that way you'll end up with a good average entry price.

My buy zone was 3100 down to 3000 but I ended up getting in at 3148 because this was too good an opportunity to miss. Pullbacks like this don't come around very often.

Anyway, don't give up yet, there is still a possibility that it might come down for a second test of that support area so you may get another chance.

I have been looking at the graphs all the time and constantly reading articles, news, links and other tips that will possibly happen to the price of bitcoin. And as far as my analysis last night it was correct and those who have read my analysis in facebook have made huge gains while those who did not have regrets. But my advise for you is to stay calm and just hold your money since we are looking at a new potential drama on bitcoins value starting the second week of October. If it will occur the price of bitcoin may fall down again, so just prepare your money just in case.

personally, i don't trust any of these articles or predictions, when something major like a sudden 25% price tank happens, every crypto related blog and media outlet puts out all sorts of numbers and predictions, enough that one of them are just bound to be correct. at this point, i just take it on myself to guesstimate a number or just get a general feel of when the price fluctuations will stop. i ended up making a small chunk of change from the fluctuations over the past few days, for what it's worth.

not too sure on that one, if bitcoin can recover this quickly form the events of the past week or so, i dont think any new events would affect bitcoin nearly as much.

I think it's not over yet. There could still be a second wave. Knowing China they will come up with something new in a couple days like shortening the closure period for exchanges or prosecuting people involved in ICOs and we'll see panic and blood on the streets.

You can only make significant profit by buying bitcoin at comparatively lower price and making exit before whales will do. If you keep waiting for lower price than you will left behind, just try to look at trading chart for that day and if there is really huge different between today's low and high than buy near today's low level. Price can go dipper even after you buy but eventually price will go above your buy price because market can't move in only in one way for days.

It was actually fun to watch how the whole movie kept playing. Jamie doing his, China doing hers and the community doing theirs. However, it was a very lovely set of days for good profit. Not fully settled though, but there has always been hope.

with closer look at the market it seems like the dust has not completely settled yet. there is "uncertainty" in the market still and that is that worst thing ever. people are doubtful of near future so they are all waiting to see what happens. otherwise price would have gone above $4000 and back to normal prices by now.
there probably are still people who think this may be a trap of sorts! hopefully this stage doesn't last long and is gone like other past times.

I am back in profit. That is why it is very important not to have weak hands in this space. I feel sorry for those that sold in panic and in loss. I hope they learned their lesson. Things change in this space in a matter of seconds. HODLing is the name of the game. Unfortunately i did not have any extra funds, so I was not able to make any purchases.

I am still about -40%, even though I managed to flip 10%. My stuff probably just sucks.

fuck i was not ready to lose it all, so i sold at little above 3000, and by the time i rebought, it was already at $3500, so i lost around 20% of btc holdings...

I kept my coins and did not sell a thing. I was planning to buy additional coins since the price had decreased far more than my expectation but sadly I don't have extra money to spend but I'm glad that bitcoin bounced back and we'll see if the price will keep to increase.

Anywhere in the 3k range is still a good buy for me, considering that we have tested that it's possible to reach $5000 with what we have right now.  With the negative events that happened recently, we held $2800 at a strong pace and is now climbing back up without China in the mean time. This means that we have a stronger market support compared to when we have China at our backs. Higher highs and possibly a new ATH could be achieved.

It's never too late to buy btc, always.

That's a bad move mate you should have consider to wait for a little more before you buy or maybe you were just a little bit slower than them.  ;) When the price is rising it's too risky to buy some because even in a little seconds you might lose a lot, but if you want to hold it so you can gain back your profit you should consider yourself to wait.

I am lucky to buy some BTC at $3300 but didn't have the chance to buy at lowest.

I did shitty, had 20k at $2000, but it didn't go that low despite "expert" predictions. Oh well, I hope I'll have better luck next crash. At least I didn't sell anything.

I made two small purchases during the down trend ... I'm still up long term (heck, everyone's thats been holding more than 6 weeks is still up long term) ... I do miss $5000 though.  My return calculations were mind boggling at $5000.

I just watch the market as bitcoin takes its deep, I do not buy since my fund is tied in altcoin and that altcoin is taking a dip too, it would be a waste if I sell them  just to purchase Bitcoin. I would probably lose more than  getting more profit.  So I decided to just become idle when all the confusion and FUD is flying around the bitcoin market.  I am glad I made the right decision.  Both my altcoin and bitcoin is now recovering so it is a double bonus for me :)

You seem to be upset about it but there is no need to be so because your journey has only begun. This is the case with new investors and we all learn from our mistakes. Believe me, every one of us has been through such situations and the only useful thing is patience. So stay calm and happy.