Bitcoin Forum

These dumps keeps coming day after day, btc holding "OK" so far, but is this still all about china? or are we now in the long bear market since 5000 usd?

edit: also people keep talking about this being the best time to buy when prices are low, but in a free market, the concept of "best time" and "low" are relative.

anyone putting absolute bottom below 2200?

Unlikely that the market is shifting towards a bearish trend.

Bitcoin has yet to develop fully and we'll definitely see some interesting trends leading into 2018. Most larger investment firms are starting to accept Bitcoin as a noteworthy investment and we'll be sure to see a lot of trading volume increasing over the next year.

Regulatory bodies however are starting to come out to play so moving fiat into Bitcoin is starting to become much harder, it'll be interesting to see the impact of this trend. As with China, this may only be short term.

News articles are still playing a huge impact on the price, sentiment seems to be good, likely will see further good news which will attract newer investment.

Problems may arise from the growth of the ICO boom, eventually they will need to cash out, lots of Ether and BTC amongst these companies waiting to be cashed out - could be a problem next year.

In conclusion, climate is still that of an underdeveloped market, lots of factors at play but doubt these are bearish trends.

Best time to buy is always now.
Timing the marking is not something you ever should do and it makes even less sense with Bitcoin (compared to stocks)

The charts certainty look like we are in for a retracted period. We will see going forward, it is going to have to show great strength in the coming days, otherwise were looking at $3000 USD as the next major support.

I was shorting when it broke 3K on 15th, I could not believe my eyes that there were no support, I blinked a few times rubbed my eyes, and it was all fixed a few minutes after and I closed around 3150

Reversion to the mean as far as volatility goes. Bitcoin was extraordinarily stable for an extraordinarily long time by Bitcoin standards. I wouldn't characterize the selling going on as "dumping" unless it's heavy and sustained. What we've seen thus far is people trading in the volatility not dumping and staying away.

Well another round of news saying that China is going after bitcoin mining farms now, so its possibility that what we are seeing are dumps because of the "news", fake or not. I don't see the absolute bottom below $2200, although I feel that it can go further at $2300-2400. Well good buying point is relative, but of course we always love to buy when we see the price floor.  Just like last week before the recovery begun, the price bottom at around $2800-$2900 before reaching $4000 again.

And that only happened in a span of 2 weeks. So i am really intrigued on how the price of btc is actually developing. A lot could happen in just 1 week. So you can either have big profit in 1 week or wait for weeks or so to have an actual profit.

The falling price is still due the China's decision, but seems like everything starting to come together, but I am sure we lost some investors because of the incidents, and low price is the best time to buy because Bitcoin tends to recover and breakthrough the high limit, I also have the feared that the price skyrocket a bit fast so it can slipped down again but I think 3000$ will be the bottom limit

now the bitcoin condition in my opinion is in a normal position. after a struggle in the past few weeks as it impacted the drastically reducing bitcoin price. china does affect but I think now we can continue the positive trend. for people who buy at a cheap price this is an advantage, but for those who stay afloat I think they are quite patient because they believe that bitcoin will come back on a good track. market is quite controlled at this time, the increase in volume becomes one of the characteristics that can ensure bitcoin growing and in demand of many people.

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Yeah, with China closing its door, bitcoin for sure has lost a lot of the Chinese investor in the process. But as I have, we can live with that, if they are targeting to stop the bitcoin mining business, so be it. The price has surge very quickly but the way I look at it, the price is still strong at $38xx. Some says is a bull trap, but for me, if I have some extra cash, I wouldn't wait for the price to bottom, would buy in portions until such time that I'm able to accumulate 1 bitcoin and then I will store it in a safe place. Bottom for me is similar to the last one though, $2800-$2900, I consider it too low already and good entry point who wants to join the market.

I have some buy orders at several prices between $2500 and $3000, I am quite confident that all of them will be filled when another round of panic will hit the market after official shutdown of chinese trading platform by end of this month.

Market looks bearish and chart suggest current correction after a dump is just another bull trap so that enough liquidity can be created before dumping bitcoin hard. Chinese whales waiting for perfect time to make an exit....

This seems to still be some uncertainty in China. I mean ViaBTC CEO came out and talked about how everyone will be "f**ked" if China decided to close down all bitcoin mining pools, and that caused a dump of around $100 in price.

We aren't in a bear market or at least not a very big one, yet. We are still experiencing bull runs here and there of pretty nice amounts.

I would expect price to go up to at least $4500 again by the end of month. A big dump could happen but imo only in either October/November when uncertainty regarding hard fork is at its highest. Then, it's a great time to buy.

falling bitcoin prices in the global market in the world because the world's largest bitcoin users have started to ban the use of bitcoin so great effect on the exchange rate of bitcoin but I am sure bitcoin will recover again and the price will skyrocket again in because bitcoin in the community have many people who use it as an easy and practical transaction

Yes, we are in a bearish market.
The bitcoin price in china has been far below the price in USD/EUR, for few days.

Markets are correcting by arbitrage, so you can expect the price of BTC in EUR/USD to decrease, at least until we get a balance between China & other markets.

You can follow this with site like bitcoinwisdom or bitcoinaverage.

LOL!
Zoom out, use the weekly chart in log scale and you will see we are still far far away from bearish territory!
You're bearish in what timeframe? 60min?? :D
There is fear and uncertainty in the market due to the current china situation.
In november we will have more clarity imo what's going to happen over there. The big party congress will be over and I expect some announcements after that (possibility for exchanges to continue operation with a license, or moving to other jurisdictions, similar things for the mining sector).
Until then the market could stay choppy!

 

The Chinese exchanges don't close till 30th september. So expect their users to continue to sell for yuan in order to withdraw ahead of time. Because a lot of trading bots still reference the prices on those exchanges, the sales will drag down the whole market. Just be patient and wait till the end of the month.

No more panic thread like this one, The bitcoin quite stable in these days, you can try to see in some days ago the price alreayd plunged over 2% but it's back again to the 4k for each bitcoin, this just a little correction and that doesn't have any correlation with the big bearish market.

Look at previous moves before huge green candles: there's always a smooth, non-aggressive downtrend, then all of a sudden, the big green candle arises. This is because there are lot of mostly pussies out there holding bitcoin that get nervous the very moment the trendline isn't going up. Don't get lost in market noise and hold, we are still on a bull trend if you zoom out and stop focusing on the details. Remember that the devil is in the details and with the bitcoin price this is no different. Market noise confuses noobs into panic selling. Zoom out and hold long term.

Bitcoin was actually travelling in a bullish trend reaching ATH of $5,000.It was due to china's strict actions against bitcoin that it has temporarily turned for a week in to bearish trend.But still its recovering soon and it seems that its once again entering bullish trend and this trend has a chance to continue till the end of this year.Its because china was the only factor we all had feared so far considering bitcoin's progress and now bitcoin has proved crystal clear that it is no more in need of the unloyal chinese market.So,its the best time to buy bitcoin at low price just like a chance which people got at $1,850 before august 1.

If you ignore recent news came from East Asia i understand your idea to keep  your positive predictions with analysing price chart correlations.Bear market doesnt need good arguments to stop falling price tendency on charts..

I can sure say that the value of bitcoin right now is very bearish and the price is really clumsy going strait, we can not predict the outcome or the movement of the price right now, we can see that is drop $200 dollar again but I guess it will not drop again to the $2800 mark value and wishing the price would rise again to the $4000 mark again.

I am not necessarily in panic at all, quite the opposite actually. I want to be invested a bit more in BTC and would be lovely to hit a few months long bearish trend. At the moment I do lots of short duration margin trades to build my equity while keeping an eye to see what is the best entry point back to BTC.

It scares the shit out of me though missing this entry point and looking behind that HUGE green candle stick

I have 50% of my buys around 2800 mark, and other buys a lot lower actually. You can call it wishful thinking or "emotıonal chart reading" ;(

We have been in a bull market since price was $152 in January 2015. One reliable way to trade a bull market is to watch the 20 MA on a weekly chart and buy when the moving average is touched:

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/btcweekly3.png

Anyone calling a bitcoin bear market until price drops and stays below the weekly 20 MA is premature.

On the other hand placing buy orders at $2800 is risky: once price drops below that weekly 20 MA it becomes resistance as traders start shorting at the 20 MA.

Price above weekly 20 MA favors longs; below weekly 20 MA favors shorts.

People still want to dump their bitcoin obviously, just watch over China regulators to announce something big, like ban mining activity.
Even though there are a lot of good news regarding bitcoin development and acceptance in many countries such as Japan and Russia.
But, bitcoin mining pools in China is a big deal, which mean we still sit on long bear market. Whoever buy bitcoin should be sure could keep it for long term just in case another wave or massive sell-off happen again.