Bitcoin Forum

Bitcoin has lost nearly 6% over the recent 24 hours, crashing from  $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.

Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319

You valuable thoughts are much appreciated.

The fact that there are so many bullish signs and we're still falling in price worries me. If whales are manipulating the market and really have this much control, I'm wondering how Bitcoin will become stable enough for mass adoption in the near future.

Still hodling though. I'll sink with this ship if I have to.

It doesn't worry me one bit, considering that I'm in it for the long term. Also, market dominance, IMO, depends on how profitable a coin is up to a certain point. Obviously, people wouldn't want to trade against the heavy currents of a coin receiving lots of damage except for the shorters who, in the end loses against bitcoin. We're still in good shape even though we've lost a pretty good chunk of the price in the last 24 hours. Many suspect that it is the workings of the Gox trustee again but for now, there are no confirmed reason/s as to why there had been a slump in terms of price.

nah, the Mt Gox trustee has never been the reason for the drops. the FUD about it and the panic that follows however have been the reason for the drops. this time it caused the drop below $9k but it has been days since that FUD, now it is just the good old manipulation dumping to push the price down...

There are definitely whales trying to manipulate the price down that's for sure. On GDAX the past few days there are constantly big sell walls popping up to try to push the price lower.

But it's probably just people panic selling. They see the price drops some and they throw their coins away thinking a crash is coming. As for now we're still holding the low 8000s support. It's been a month since Bitcoin has been below 8000. The price has been hopping up and down all over the 8000s the past few days. Hopefully the next move is another pump overnight or tomorrow back to the high 8000s.

I don't consider this as a serious price drop it is just 6%,anything under 15% is just a normal price swing of the bitcoin,so the price may again reach above $9K in a day or so,And I don't think that 85% dominance was just because of crazy rund at the end of 2017 but normally 40% is the dominance level of bitcoin after the numerous coins were introduced in CMC.

Well that's the point there. Several reasons why the market plunges and we may even get under 8k but that really doesn't count a lot for hodlers since we're all looking beyond what's currently happening. There's a possibility that it will crash but being in crypto for years now i'm taking the risk. And we also should only invest what we can afford to lose right?

It is normal for it to lose dominance now that knowledge about crypto have become widespread. People now are trying many different alts(and buying them up), then holding them with the hopes of earning more bitcoin and thus is the reason why we shouldn't be scared about it.
You are right. Those who will be scared will not see the true reason why BTC is losing dominance temporarily(because of many investors holding alts with the hopes of earning more btc).

I think it's just because people are diversifying more, knowing that crypto isn't entirely just about BTCBTCBTC, even if the majority of coins/tokens have their values tied up to bitcoin.

Well honestly at this point, it's kinda advisable to hold other tokens/coins with their own markets (not entirely tied to btc) rather than keeping your portfolio on solid BTCBTCBTC. Better safe than sorry.

A 6% decrease in the price in one single day isn't a crash, it's just normal fluctuation, anyone who hass been involved with Bitcoin for more than 6 months or so should know this.

Understandable. Everybody jumped into the Bitcoin bandwagon back in December/January during the bull run, altcoins were completely forgoten as people wanted to invest in BTC, after the price went down everyone started looking for a new coin to earn profits and so it began the altcoin cycle = capital flows back into alts, also, a bunch of shitcoins started showing up, others were pumped by hype/dreams and hopes, meaning that the altcoin market cap was bound to go up while the btc dominance was bound to go down. We might not see that 85% dominance again since people have realized how profitable the crypto market can be without going all-in on Bitcoin.

Mad respect man. Lol.

But yeah, how is $8k a bad thing again? I don't think that's a bad support level in the least, considering we were stuck at sub-$7k levels for a while and people were predicting sub-$5k. Bitcoin is doing really well despite the overall bear market.

Same scheme as with Fiat money. Richers getting richer. Those whales steal the money from new investors. If they do this pump and dump, bitcoin will not reach new ATH anytime soon.

Panic sellers worry that the price fall again to 6800 which was the last dip. But I think selling the coins is the worst thing any one can do.
Bitcoin price rose to 19000. Then it was corrected. Now the price is rising again. But there are some small corrections before reaching a new all time high.

The Cartel want us to sell, but the system they offer in turn is a failure.

Obviously, Bitcoin is close to 8250 USD but I trust this coin. It will never failed in anyway so we must hold for long term it will help to make big profit in next year. But most of the peoples are panic in situation so we must create the awareness of Bitcoin potential automatically again is growing fastly in the market.

Yups we who holds bitcoin for long term dont even bothers even if price falls $6k again.
Those whos affected by this are the one that wanted quick cash,they buy today and claimed by night in short those dont believe in block chain instead they are here to make quick bucks ..

Yes,if the price falls to $6K then it is a great chance to make quick money in short time because the price will again recover in few days like what happened in the previous incidents.And the people who are holding it for longers don't see the prices every five minutes it will make you panic just wait for the price to go to moon.

You're mixing up news with actual trading action.

There are no bullish signs in the markets anywhere. There's bullish developments but more often than not they mature far in the future or may not happen at all.

We just got through with the biggest bubble by a country mile. It's gonna take a long time to wind down and recharge before the next one.

Normal manipulation, panic sellers, Correction and Fuds it's quite common if you are going to observe the cryptocurrency these past years, they are pushing the price down to accumulate cheap bitcoins from this sellers then we all going to see some price surge that's why we are not passing the 10k barrier, they want to put some walls to prevent the breakthrough, fluctuations always happen so prepare to see some bloodbaths these coming months.

After Facebook and Google, now Bing bans Crypto Ads. Perfect FUD for bears to drop the price further.

I think I just need to wait for the bullish season to come. Probably it might occur after this month as per the history of bitcoin itself. I might experience ups and downs in here but that is the life in here, so be it.

I don't think it's dangerous. Last time BTC showed a big resistance at $8000 level. And whole market looks bullish to me. Not any serious FUD yet. I believe we will break $10k in a month. Only my opinion

Well for me this is a normal price movement..We have been in constance growth of price no matter how slow it is but its still good movement. Now if it slightly went down to the 8k level I think this is just normal down trend but Im pretty sure it can catch uo and im quite sure 10k price  will be break this month of May.

Bullish season? In order to initiate a bullish season we need to have an underlying bullish event being the driving force behind it.

The problem with all people's expectations is that they can only disappoint with how much they expect to happen this year. I constantly see people mention how low the current price is, and how they believe it will reach $30,000-$50,000 before the end of this year, but that's all noise. If they really believed that the current price is low and that a massive increase is due, they would have bought up the market, but that's not happening.

The market is waiting for that important trigger, and as long as this trigger doesn't show up, we won't be going up that much, it's that simple. People can't and shouldn't expect the market to go up out of nothing. Just be honest, what's there to go up for in the very short term?

Judging by the news and the talk in the financial industry, this event seems like it will probably be the Big Money from institutional investors coming in and financial firms opening up Bitcoin trading to their clients. It appears this will start before the end of the year. Any smart money on Wall St will be moving in to Bitcoin before things start heating up again, which basically means it'll be a race between them. Even before that Bitcoin should continue to be on a slow bullish trend. Once the bullish trend starts FOMO will do the rest.

Personally I think it'll take anywhere from 6 months to a year before we enter another bull run, but in the meantime the general movement will be slowly upwards. Right now the base level of support is 8000. It'll slow continue to move up.

Nope, the only thing that truly matters is supply and demand. All you really need for a bull market is for sellers to stop selling, all else equal. A "bullish event" can help catalyze a breakout, but the underlying accumulation vs. distribution is much more important.


These people do believe the price is low. But they don't have any money left; they're already all in and probably underwater. It would be much better if everyone was bearish and had already sold.

We have the 50 day moving average, then the 25 day moving average as the further resistances, if these don't hold then we may go lower, but I wouldn't start getting worried unless we went below $1000.

$1000 is possible, but are you willing to take the massive risk to miss the boat? Bitcoin is not going to leave, the fluctuations against fiat are meaningless and temporal, and these in charge know that fiat is dead, and will therefore use any possibility of a dip to stack up. Timing perfect dips is impossible, you might miss out badly.

I would be buying at every $500 decrease all the way down, but consider Bitocin can start going rocket mode at any random time towards a new all time high.

FUD like anything else has a certain life-span. you can't use the same FUD and expect it to has the same effect as always. the first time it is big, the second time it is big but still smaller than the first. and eventually there comes a time when nobody cares about the same FUD.
for example the "China banned bitcoin" FUD is ancient now. and nobody cares about it anymore. they even tried changing it to "China banned bitcoin mining" but that still didn't change a thing.

This is not enough reaso to give up,this has been normal dump and pump issue this year and weve seen many things like this before,only those weak has been reacting for this bloody market,but for a real investors this is what they need.

And nice issue to tackled for the benefits of many of us here,who support and trusted bitcoin for many reasons

Yeah, it's always advisable to always hold now when all seems odd. The better days are definitely coming. It's so unfortunate that so many HOLDers starts losing hope at the verge of the breakthrough. Many whom have expected bitcoin to keep on high rocking to it hit the highest price are quite disappointed when things aren't working their way. One is not expected to give up because losing hope means losing all your HOLDing days. 

Yes that is the main purpose of the investors here in the bitcoin world to make profit and to show the world that bitcoin will never be faded as well as the people who invest on it. Hodlers will never give up cause they knew that it has a potential to be the future of currency.

I'm hoping the 50MA holds here. There's definitely signs of bulls with dry powder here, but not sure whether it's enough. I stopped out of my longs when $9,000 broke down, still waiting for signs of life.

It already hurts pretty bad giving back the gains from $9,000-$10,000..... not sure I could stomach waiting until sub-$1,000. :P


I have enough coins that I'm comfortable. So I'd wait the correction out before putting any fiat in; no reason to add the risk.

But if you don't own any BTC, it's always a good idea to buy some. :)

Accumulation when theres a dump would always be a good idea if you do have the capability.Why not buy? We know on what are the possibilities to happen ahead yet we know the potential of Bitcoin.Basing on TA recently i have seen that strong indicator of bullish movement to fade away where it do comes out to move its price on sideways or simply on accumulation period.I dont know if it would able to break that support on $7800.

Bing? LOL At least this lame attempt to spread FUD in the cryptosphere didn't have that big of an impact (it's very unlikely that this causes a massive sell-off), either because no one cares about Bing or because we we already in a downtrend. Nevertheless, the whole "news" made me laugh, the fact that Bing is so shit that they're trying to use this type of stunts to get free publicity on the news...too funny  ;D

Bitcoin would be the coin all the time that will has the most market cap and this is why the price is still quite good although it came from a correction.No one uses bing.
There's something wrong after the consensus conference, everyone was hoping there will be a bull run but it seems it doesn't have.

Definitely hodlers will never gives up as many believes price can always recover. It so happen many times btc swing down low. But usually bitcoin can increase and many users holds their btc.

But still many holders have faith that the price of bitcoin will rise up. Consensus conference has brought the price at a good level 2 days ago but the current dip may be because of some whales selling off. By the way June is coming when the FIFA host country will allow their hotels to accept bitcoin for the payment in the hotels. I believe that in that time the demand of bitcoin will increase worldwide and the price will boost up to a highest peak.

this has become news on all bitcoin news channels, until it seems like it's the end of the world, I wonder: with this kind of news spread all over the internet thanks to our bitcoin news channels and adding the negative comments of certain people, how the hell is someone new in this crypto world will not panic and sell their currencies with losses? spreading this kind of news does not help at all, it seems that bitcoin is a failure when it is not


Of course this will always vary, why the hell are they constantly monitoring this?

I like how the speculation section here perfectly mirrors the sentiment on social media platforms. Everyone is saying that they will hodl through this 'bear market', but when the price slips further, coins will be sold instantly.

Hodlers (and I mean actual hodlers) don't bother opening threads or sharing their concerns, they just allocate time and resources to more rewarding opportunities in the meantime.

If you are in for the long term, what's the point of looking at how the market is jumping up and down? If you take advantage of the volatility with trading it's different, but aside from that there isn't anything you can do with it.

personally, i love markets. i love the emotion, and analyzing market psychology and reading sentiment. i allocate more than 90% of my holdings to cold storage---but even if i didn't own BTC, i would still chart it just for kicks.

so i'm a hodler but i'm also a technical analyst and trader. when the market dumps, i'm perfectly fine holding 90% in cold storage and using the rest to churn out more BTC. i'm in it for the long term. :)

Well Bill wants cheap coins so he delivered perfect FUD for bears. We re sub 8k now. Not that I care. Until 2020.

nobody cares about Bing, nobody uses bing. even the news about Google didn't affect bitcoin price that much. not to mention that this is the repetition of the same FUD which means it won't be effective anymore because this trick was already used.
also it is too soon to  call this "sub 8k", price literary touched a tiny bit below $8k and jumped back above it. :D

I've said some news before maybe its March to April that bitcoin will drop on June, I don't know if it is true, but as what we can see right now bitcoin is getting lower and we are still at the middle of May. Hopefully bitcoin still recovers its price.  :(

The pricd of the bitcoin now are decreasing and actually $8000 and If the price decrease Im still relax because for sure most of the bitcoin user again Invest again their money to bitcoin because they want to earn a lot of money . Don't guve us because if we not stop bitcoin until they die everyone can suffer for sure , but if the price increase high everyone will benefits ..

Yeah, sooooooooooooo...
I am about to strap my 5 cents here)

Soon enough we will be looking at 5k!)

Explanation:
Weekly Ma10 support will break down after this Sunday, MA5 will push price down, next support will be MA20 at 5k lvl.
Plus USD is getting stronger wich will push the price of bitcoin down)

Good news is that the long term looks amazing!

Here is some analysis from ya boi, will soon make post on it)

BTC
https://imgur.com/gallery/tnKyD9z

DXM8(USD index) (indicators used RSI,STOCH,SAR) (Indicators are not shown in order to improve image quality)!
https://imgur.com/aEUsU6j

That's for sure, he shorted and wants to get a proper entry again. Those who seemed to care at all are the ones who are trapped in the middle.
Really you did? Don't you worry about the price, I'm sure that you have some on your stash and you managed to hold until then.
Better if you don't check the prices daily.

Remember that there are a lot of buy orders sitting around $6600, from institutional investors waiting to get into crypto (they want to get in fairly cheaply).

So the price will bounce back up, if the $8000 level is breached. And life will go on!

As a rule, I don't buy into dumps, unless we are extremely over-extended and I sense capitulation. Early February was one such time. But I usually wait for a strong bullish reaction or range break before piling in.

The people who bought the dip all through December and January suffered a lot of pain. I try to avoid that.


We already bounced from that level in early April. If we go back to the $6,500 area, we're probably going significantly lower. A triple bottom off the lower $6,000s is unlikely in my experience.

Bitcoins has come down to even 7000 USD recently, so what is the big deal if it is now close to 8000. The faith in bitcoins is very strong among traders that is why no one is selling in a panic manner but as the number one coin so far , it will give a good a return to patient holders.

Thats the spirit of being holder,since the trust is for the coin we supporting.

And about the OPs sentiments actually i dont see any reason to act like this because this is too soon for some kind of panicking,bitcoin is in good shape still and didn't sink low as what to called dip.

I have a feeling that the next market recovery would be mooning of bitcoin,after many declines but together with resistance,yes were heading moon

There are investors who will not give up even if bitcoins is to be $1,000. The real deal is to keep your head high up if bitcoins dip in price. We know from past history that , when ever there is price drop, it will finally rise back.

Being a wise trader,you have to hold at fluctuation time.This make you some profit as compared to selling with low price.Now the price of bitcoin reach back to 8300$,may be in couple of hours we expect the 9000$.Still now bitcoin had is own dominance in market.

Yeah. As much as I want to feel disdain, I do enjoy reading the gems, especially in Speculation. Every now and then, someone comes in with a bit of fun, which I like, and there are still quite a few good insights to read, which I find enjoyment in. Not all of it is masochist too!

I do consider myself a holder, keeping as much as I can, spending as much as I need, but sure, I do commit quite a bit of my holdings to "ventures". Lost my taste for new tokens, but still engage in opportunities with what I'm willing to lose. It's all with the same long view of getting as much coin as I can while this lasts.

I'm sure lots more people are doing the same, maybe even many more taking more risks than we do, and certainly all in it for the long haul.