Bitcoin Forum

This could very well be the bursting of the bubble - especially with a lot of stories coming from strong bitcoin fans in here that they have also now sold out

I`m surprised that the price correction arrived so late (before Christmass).I was expecting it around 15 December.
I sold most of my bitcoins at around 16480 USD per btc,i missed selling at the price peak of 19000 USD,but i`m glad that now i and most the btc holders have the opportunity to buy some cheap bitcoins.
Next year the bitcoin price will go over 20K USD,for sure.

I don't know if this could be the "bursting of the bubble" they're talking about. But I think this just just a normal thing with bitcoin. Especially Christmas is coming and a lot of people trying exchange bitcoin to fiat so they could use it.

This is really what they call "bursting of the bubble", it should happen a few days ago which is more relevant to happen but it burst just right before christmas, im not surprise that it happen im more surprise by the price increase from $9k to a woopping $20k in a couple of days.

I am not going to say you are wrong because there does exist the possibility that the extreme speculation by everyone caused Bitcoin to be overvalued significantly and this sort of "correction" could have brought it back to its "real" value. However, I do believe this is most likely because of the force of professional trading agencies at work. Trading Bitcoin can turn very profitable very fast if you have a high stake in it to the point at which you can manipulate the market. Alternatively, it is also possible that the crazy fees have made people lose faith in Bitcoin and so they then cash out. I would admit the possibility of other altcoins being stronger, but since they all seemed to drop proportionately to Bitcoin, I doubt that this is actually the case.

Not really surprised since it's the weekend and most probably lots of people are converting their BTCs to fiat since they need money for Christmas  ;D I guess time to hoard for those who have money to buy BTC now.

OP, you are still new here and you might not be accustomed to Bitcoin's volatility, and to tell you the truth, it is quite normal.

Plus this dip is the best opportunity for you to buy more coins if you have extra money to spare. I wish this dip lasts until I receive my Christmas bonus from work! Haha.

Things like these are normal with bitcoin, and we, users, should know this. We all know that bitcoin's price is volatile and we won't know when it will rise or fall. We should not panic on things like these because we should be expecting these to happen. Another thing is the upcoming big events internationally, many people for sure are converting their bitcoins into fiat so they can use them.

This is not true.

The price dropped (so far) from 19700 4 days ago to 12504 as a current low point today.

This is already a drop larger than Mt.Gox in 2014 and also larger than the drop seen in September.

yes, I agree with you, and I'm sure this will be what you say "bursting of the bubble". christmas day and long holidays will make bitcoin very down.

fully what you say I agree. I think the panic mode starts to spread with the red market. this is a monentum to observe and do buy speculation from the lowest price. I think in the next year bitcoin will be able to survive and rise again

It's Christmas time and people need cash, that's all. Happened last year too. No worries,it will bounce back.

I doubt Bitcoin will go below 6000$! I highly doubt that.

The price is down by 6000$ - that is a fact

People are not selling because its xmas and they need cash. well there might be a few but these are small transactions for the kids that want a new toy. You are seeing transactions for hundreds of thousands going on today. This is not for a new iphone. This is much, much bigger.

Bitcoin increased so fast and touch $20k, now BTC is sideway and it will be up again. Bitcoin dies, Alt-coins die. Bitcoin is still a King.

King of what?  King of high fees?  I forgot Bitcoin was created only for the rich.  It's not for the people that have a little bitcoin and what to buy a game or pc component. 

To me it just looks like the BTC rich are satisfied with the money they made this holiday season.  It will be up again next November.

This question already commonplace, maybe so , who knows, but still it is possible to earn good, why not? Plus it's a good technology for the economic component

Too much discount in a short time, I think the bitcoin can be reduced to $ 8600, and we can buy at that price. I find it reasonable,

I also missed in selling my BTC at the peak of around $19000, well we just need to be patient and be observant as the bitcoin value changes real quick and we might miss the chance to buy at it's lowest price.

It just a normal correction

No it is a larger drop than the Mt.Gox decline. An this happened in 4 days whereas Mt.Gox price crash took 2 months.

 :) This could be a great opportunity to buy some bitcoins, with the hope that its value will rise again.
But for the ones who already got bitcoins its a loss for them.
Deciding if you will sell or hold your bitcoins is a hard thing to do. If you gained bitcoin without buying it or cashing in, I think it will be best to hold on to it.
Bitcoins value will probably rise again, considering the fame it reached. BTC BTC BTC

Nah, joe! If you seriously believe this then I believe you are one of those who have weak hands. You might be one of those people who are easily caught full of emotions by sudden movements in prices. I think your kind is not so special in the world of cryptocurrencies. There are so many people here who are exactly like you. The same people end up turning the principle upside down, ending up buying high and selling low, therefore with a loss.

Here people are saying its bursting of the bubble! but it's not!
This is Christmas week and people are withdrawing money, that could be the reason for a drop in price. I'm sure it will rise gradually in January.

It is not a matter of what you do or do not believe. Until yesterday this forum was mainly all about bitcoin fans constantly telling each other how to hodl and bitcoin would go the moon. Now we are rapidly seeing many of the same bitcoin fans publicly telling on this forum how they have now cashed out. This is not about what I have or have not done. I am merely observing the plain fact that bitcoins fans in here are now visibly cashing out - and in here it has typically only been people saying "hodl" in every dip. But not this time....

Again showing the complete failing of Bitcoin.

It is failing as a currency, because a currency that dips up to Christmas when you actually want to spend some money is useless.
It is failing as a store of value as the extreme volatility makes it like storing water in a bucket with holes in the side
It is failing as a practical means of payment due to the extremely high transaction costs

This was the effect of Christmas rush. People converted their BTC to Fiat money to buy gifts and prepare for upcoming celebrations. Be patient, the great surge is yet to come.

that's a risk factor. bitcoin prices are volatile and highly dependent on speculation, just calm down and keep track of their progress, do not panic. although down, not necessarily burst, because when compared with the price in early 2017, the current price is still very high.
if it is associated with Christmas and new year, maybe many are btc exchange for them to have fun and holiday with family.

I am not surprised at all by what is going on. It's painfully evident that Bitcoin in its current state is not fit to be used as a virtual currency so probably investors are pulling out selling their coins for profit. Heck it's WAY cheaper to use a bank issued card to shop online than use Bitcoin. Cheaper transactions with Bitcoin my ass  ;D

i am new here but i also think that this is not 'bursting of the bubble'. It may just be cos of NYE and XMAS. I also believe that the price will not drop lower than $10000. It will rise again and this time much higher as this time we have lot of ppl buying em at this rate, including myself.

Agree, Bitcoin is not fit to be used as a virtual currency to buy real products on Amazon or shops, the exchange fee is so high, and the waiting time for confirmation is so long.

But I think bitcoin is an important currency to buy the altcoins, so I will buy it when the price go down under $10K.

I think no one has been buying bitcoins for some time now and its all because of the fees being charged now, this has stalled the market because no one is willing to pay $40 just to confirm a transaction.Because of that no one is investing.

Long term holders need not fret... It's just because people cash out for Christmas.

This is a reasonable reason because at the time of Christmas everyone tries to throw dinner to their families in which all of them exchange different gifts which they earned through their jobs. Now the bitcoin holders also have families to look after, so this is totally understandable. Moreover, it is the normal custom that every year near the Christmas, the businesses go down because of the holidays, so it is just another Christmas and nothing else.

But Bitcoin will always be here to stay. It will not die and it will always go up and up after this "crash". There is nothing you can do about it.

Plus think of Bitcoin as an airplane invented during the time of the Wright brothers. No one believed that flight will become so "ordinary" after a century, right? The same with cryptocurrencies, and you should feel lucky you discovered it very early.

There's nothing new with it. Its just a part of bitcoin, But it appeared in wrong time. Since the Christmas is near and people like to buy present for there relatives, and we all are aware not every site accept the bitcoins so many people attempt to exchange it with there currency in order to buy things.

We need volume. Price is nothing without volume. We are seem that most of the volume is going to alts. So we could see Bitcoin hit a lower price before hit a new ATH.

Last week the price of the bitcoin decrease but as of now the price increase again and it's already 15,000 dollars and I think it will increase the price more in the next few days.  I think better to buy bitcoin again because for sure it will go up again to the price.  More bitcoin more money to come and for sure you will be happy for the result.