Bitcoin Forum

I just read this comments on reddit and I believe this should encourage some of us to keep holding our Bitcoin! This is a hard things to do in the present of this bearish trends that we have seeing since the beginning of this year. I think we are going to have a new set of holders if we sell our coins now and this might create a new investors out of the dump.
https://www.reddit.com/r/Bitcoin/comments/7w2f83/bitcoin_bull_is_not_over_novogratz_raises_250/

It feels like (and I think this is a pretty popular opinion) Bitcoin price fluctuations are extremely cyclical. It goes with the good rise, then a correction/drop, people see that the price is low and have always wanted to get into bitcoin, so they put their money in, the rise goes back up.

For the past year, we've seen the rise phase exaggerated and the drops not as much. In the past few weeks, we've seen the drop stage take a stronger stand. Just based on these observations from my own side, since Bitcoin is still on an overall rise, I think there's a good chance that those rise stages will be exaggerated again. I don't know if it'll happen this month or even this quarter, but I believe that the rise is bound to happen soon.

We can see the same patterns that have occurred for years in bitcoin occurring again, only now they seem to happen in a more exaggerated nature and on a much more accelerated scale, the crashes seem to be over a matter of days instead of weeks/months.

People set standard in bitcoin price, and that is the all time high of $20000, this is the main reason why during this dump in value people consider it to be a crisis and a sort of loss on their part, but if we could think about it bitcoin started from a very low price but through fluctuations it reaches this high. The market is unpredictable and very volatile but given the fact, at this point in time I still consider this as profit and not a loss as long as the value dont reach $100 again.

Have only been a follower of Mike since November and the way his estimates hit the mark is insane; he once stated that the month of December would be hard to predict so he didn't launch a new hedge fund in the said month like they should have, which turns out to be the best move possible. Good thing I sold out before everything blew off on December 23 and kept holding until I released some fiat again to buy just 2 days ago. If his estimates and analyses are correct, I'd be in the greens again for this year. It is extremely tempting to sell during the crash from $14k down to $6k but still, patience and emotional fortitude really pays off in the world of crypto.

No article should be a convincing factor when it comes to you being bullish on Bitcoin or not. If you understand how powerful Bitcoin is as tool in a world where we don't actually own the far majority of our wealth, and where we almost only transact within centralized ecosystems, it should make you an instant bull. Everything else is just hype driving. It's safe to say that with how Bitcoin has gone up explosively in the last 12 months, people see money in Bitcoin and will do everything to nurse and execute their own agenda plans. It's great that it may help Bitcoin forward, but it's not that we strictly depend on it, because one way or another, we'll blast through any realistic level in the coming few years anyway.

I agree, generally. But this widespread sentiment that "the bottom is in, next stop $100k" is beginning to worry me. If most people agree on that, then some more shaking of the trees is in order.

We've been through lots of corrective cycles characterized by bull traps and eventual rounded bottoms. The weekly candle closed below the 20MA. That hasn't happened since early 2016. I am very bullish on Bitcoin in the next few years. But we should be open to the idea that something has changed regarding the mid-term bull trend. Bitcoin has bull-trapped a lot of people for 2 months now, so there should be significant resistance overhead.

These levels will become more precise as we approach them, but my general take hasn't changed: $11k-13k, maybe a bit higher, should serve as solid resistance to sell. Then, wait and see where the bulls support the price. Hopefully the lows are in at $6,000. But I wouldn't wait until sub-$6,000 to sell.

Most of the past years have marked similar growth, but the price falling low from a much increased price has made it to be a major issue. Going through the market and the growth chart over the years, it is clear that every year has similarities in the growth pattern and the same is happening right now too. Nothing needs to be exaggerated as well nothing is there to panic, it all happens in a cyclic manner as mentioned in the above post. We need to have the understanding.

You are right since in that price range, the resistance comes from bitcoin hodlers themselves. I also doubt if ever bitcoin would rise back to price higher than that in the next coming weeks, there is too lot of hodlers that wants to sell IMO and most of them doesn't want to wait until sub $6000. I also wonder if we will see another dump or not in the next days to come? Well I hope that isn't the case.

So hard to tell that the rise will came on just few weeks since we all know and observe that the dump is so severe and resistance is still unreliable. But maybe we can see some little pumping and I really think that one will remain their and the true pump will came after this bad,fake or whatever you call it erased on the system.

bitcoin bull run is over, it has been over for a while but it is only over for now. it will start up again soon and we will see another big rise like always. but we shouldn't ignore the fact that price has been falling for some time now, even though we may think it shouldn't have fallen but that is what's happening so the best course of action is to adapt.
not to worry though, the potential of bitcoin has not gone anywhere. it is till there and still strong.

The key is to n ever panic. Since bitcoin came across into a huge price last year whats happening now is totally normal, it was just due to the FUDs all over the mainstream that makes more dips in cryptocurrencies and let's hope when the next quarter it will all be fine since almost all panic seller were already out of to hold. To those who believes that it's ATH will happen again better enjoy the ride and see you there.

a drop after a huge rise is perfectly normal. but also a huge drop is not normal at all, and that's what's happening right now.
that is why i don't consider anything about the recent drop from $19666 down to $5920 (-69.8%) (prices from BitStamp) normal. it was an over-panic situation in my opinion where things got out of hand and the drop became a lot bigger than it should have been under normal circumstances.

Very Good comments by "pooya87",I totally agree that Bitcoin is in very strong position yet and every one will see this fluctuation almost every two to three months and again Bitcoin will recover with new great postion but at the moment Bitcoin is in great surge so wait for good time as it will again take fly as some good news is coming as Europe banks give green signals for buying and trading Bitcoin.

You know right, the "huge" price drops because there's so many newcomers buying bitcoin without even know what it is. it actually reminds me a lot about when bitcoin first hit $10,000 and so many media starting to exposes bitcoin resulting a huge exposure towards bitcoin and mass adoption. Even some exchanges in the past announced huge amount of people registering within a day. I'm not surprised at all with this even. Even I know from the start that the sudden price increase like what happen when bitcoin about to hit ATH is dangerous, if there's a little bit of correction, the panic sell will be even worse.

The phase looks bigger because new entrants rose exponentially. Hundreds of thousands of people suddenly entered the market which naturally leads to a bigger and longer climb then before, where the same day traders and pump and dumpers where mostly responsible for the volume.

Obviously. It's just taking a break from the pumps.

But just as obviously, whether or not this break from pumping is going to be a prolonged break of a few years or just simply a couple of months of consolidation in the market before bitcoin continues its way up is another question.

Right now, a lot of new people are being interested in bitcoin because they see the price at a lower level again, something that they were unable to sight often in the past few months. So yeah, if you sell your coins now, your bags will simply be taken up by another person. Don't forget that long term holding often yield the most. All of this is just short term noise.

bitcoin "bull" is not over until it reaches mass adoption all around the world and we are not even close to that date. there is a long way to go and this way consists of lots of ups and downs like this. which is why bitcoin is usually referred to as a rollercoaster. in the end this rollercoaster will end up higher than where it started and keeps on going higher after each period of rise and fall. it is like 2 steps forward and 1 step backwards.

A holder does not need encouragement, we know very well why we are holding and we know the potential of bitcoin, the ones that need encouragement are those which are not sure what to do with their coins in these circumstances since they never saw a drop this large and those which bought at the top, everyone else is already holding or are panic selling.

The bulls are still on play in the BTC market. Those who mess with the bull will get the horns. During the downfall last month, they perfectly distributed their positions to newcomers causing the price to reach the bottom. Now, they are buying in large volume at a lower price of BTC which could cause another rise in price in the next few months.

After the April 2013 peak, the range from top to bottom was $259 to $45 (82.6%). That drop happened over the course of 3 days. After the November 2013 peak, the range was $1163 to $152 (86.9%).

In terms of historic price drops, this is all very normal. The question is, have we seen the bottom yet? ;)

Bull market isn't over for sure.

I think we're looking at a recovery for at least this month. There's the Chinese New Year factor, which I personally do not really believe in but plenty of other people seem to believe in. It does make a bit of sense, though. Bitcoin has been panic sold from $20k all the way back to $6k, which is honestly quite strange to see. It means that people are dumping too much.

And with the historical bad month of January, it's easy to see bitcoin to recover back up to $10k and make a rally or two in the meantime.

$6k should still be the bottom for a few months, at minimum.

I'm sorry to break it to ya, it really is over. Get over it. You will never see $19K. Ever again in your life.

I'll take that bet. Let's play for rollz!

As I started reading the comments, the first comment made me spit my coffee on my keyboard. Literally.

Good to see Wayne Rooney has found a new career.
https://preview.ibb.co/mizaan/20171222_btc1_1.jpg

I generally lean on agreeing that it's not over yet, but it's also very possible that the state of the market will be the same as 2013 - 2015, giving us 2 years worth of accumulation. I suggest we take the chance.

If bitcoin's price gets stabilized around the current value then I think your statement might come true . But I think there will be one more bullish pump this year may be after couple of months.

The chart still doesn't say much. Unless we see price go above $10k and holding with volume, then we could say that we are back on track.

Well every investors and hodlers should think that bitcoin would definitely gonna rise up again up to the last All Time High it hit and even gonna go up up to the $20,000 value or the $100,000, Keep that faith alive and hope for a good positive thinking alive, That should be the way all of us should think about bitcoin, But right now I really think we are still not engaging into another bull run there are still resistance happening every now and then but until then if bitcoin can recover from it then we can have a great time over the price.

Yes as experience happens that Bitcoin prices are still decreasing and increasing uncertain, so there is still a possibility to decrease. That is the thing that is so possible, Bitcoin is a digital currency that is very easily influenced by various things.

Make sure we can choose the right time to invest Bitcoin, in theory the price of Bitcoin is predicted to achieve tremendous value, but in fact we can see that sometimes a miracle and a fortune will affect the price of Bitcoin.

Well i'm nit evem asking for a bull run this early though. A steady growth would be more likely at this stage with btc still at a recovery stage after that tiring drop that had people falling out of their seats. Everything is moving sideways with little ups and downs every now and then. And its a good healthy thing

We got the bull in short time then going bear. I think the price it's now still stable at 8k, it's good point to people to calculate how much BTC that will to buying and hold for long time.

Bitcoin is a way to regain our ability to print money that was given to governments and then to banks, they have abused that ability to the point their bets on the financial markets are several times bigger than the real economy, those bets are nothing but gambling however when they fail we are saddled with paying the bills for their mistakes and like and addicted gambler they are not going to stop until they have no money left, and bitcoin is the perfect tool to take the printing machine away from them.

I agree that this isn't any kind of bull market like before however much people wish that it was.  It just isn't.  Might go up a bit more and then crash again.  If it was really going up it would be soaring.  It isn't.  It's struggled every bit of the way.

When you do hold for long term investment then it's not really a big deal to see whether it's bull or bear , it's over or not yet. One thing you would care are about when the new ATH reached? That time you'll always consider to sell it all out or keep holding , that's investment. Unlike trading which cost too much heart breaks and regret, the bull might get halted for a while soon , the charts shows how slow bitcoin growth in the last few weeks.

this is really an opportunity we should take immediately. because this is very normal happened. we just need to wait for when bitcoin will go up drastically, and it's perfectly natural that bitcoin is often a strike. probably for some reason. but I believe bitcoin will not break down for too long. maybe in the next few months we will see the movement