Bitcoin Forum

A few days back, BITCOIN reached 8,000 after a long time. and today, bitcoin price falls down to $6200 back. many people told that bitcoin will hit $10K , actually what's happening with Bitcoin? I can't understand the market anymore. I would like to know you guys' ideas.

Everyone likes to think they "understand the market", but over the long term, all people can really do is guess.  There are too many variables to accurately predict.  Some experienced traders (and I'm most certainly not one of them) are talented at spotting current buy or sell signals, but no one really knows what to forecast for the long term.  That's why it's called "speculation".

It's likely that with most of the people who say it's going to $10K, or whatever other figure they "predict", they generally just start with a number in their head they'd ideally like to see, then they go looking for news, patterns or trends that might look like it supports their prediction.  Ignore them.  They don't know anything more than you or I do.  Otherwise, if they really did know in advance what price to expect, they'd be ridiculously wealthy by now.  If you want to succeed as a trader, you'll have to learn the skills that generally only come with experience and time, but you're inevitably going to suffer some losses along the way.  But again, there's no magic involved here, you'll only be learning skills that enable you to tell which way the market is heading at any given moment in the present, not what it will be doing in future.  So the better advice is to stop trying to be a trader if you don't want to take risks.  Play the long game and be patient.  

Or, stop worrying about the price and focus on the technology and the real benefits, like increased privacy and greater control over your money with no middlemen involved (unless you're leaving your money on an exchange, in which case you aren't actually gaining those benefits).

I also think that the situation on the market is a game of big investors who earn a difference of 1000 $ bitcoin between the purchase price and the sale price. This is a very volatile asset, where large players make their money. I will not be surprised, there are bears will be able to break through the mark of $ 5000

Whoever told you that bitcoin will reach 10k, they were actually speculating the price and no one on the earth knows for sure. We all are speculators here and we can only speculate the price but can't tell anything for sure. Also cryptos are the only market that reflects the free market dynamics so it is almost impossible to capture the Future trend correctly.

The current bearish trend is the result of the bitcoin ETF delay by SEC. It looks apparently correct because there is no other bad news trending in the market (I am guessing). So take this as an opportunity and buy more if you believe in bitcoin. I am sure a lot of people have started doing that already. Once the market moves free from the hype of the ETF, it may start go up again distributing the profits to the believers!

Right now, it is difficult to tell which way bitcoin will go and why bitcoin is going this low or how long the bleeding is take

Market cycle running with speedly. So we can expect anything but market has own its plan. My friend said me that market is acting with unexpectedly. So what everyone expect? Most of the time it will be go opposite way. I believe in that theory right now.

Yes, its not bad to speculate sometimes because you are just hoping for something to be happen. If that $10k has not been reached this time, never lose hope. As we see we  are losing our holding now because of the big dump. But if you try to look on its bright side, you will buy more of it and store it to your wallet until the price of it recover again. Keep trusting bitcoin and its capability in the end, hopefully it will all be worth it.

Yes, it's true that people just speculate about prices, maybe you also know that the crypto market is very difficult to predict in a very short time, it needs research so you don't enter the same wave, I like to think that both profits hold long term because every year is always have good achievements and might be brilliant for the next year that I predict.


In the past, there have been people who say that ETFs do not affect the market at the moment but they are wrong, this is very dangerous for most, especially in their mindset or ambitious ambition to benefit if the ETF is approved and in fact not, all think they will lose all their money if it is not approved, this is only an trust and an ambitious person to get rich suddenly but fear of losing money does not have to lose 100% but the market will increase again if it's time, long term is a solution for me.
This is not a deadlock about the SEC's decision on ETFs, there is still one more chance in September.

It is simple. rising to 8000 was because of ETF, that was expected at 10 august. But ETF decision date was moved till 30 September. So all who expected now sell ther BTC. And do not forget that crypto market is very manipulated. So i think that theese red days were made by MMs, that have strong and correct plan for crypto. The last strategy that i see - just Hold.

I think it's about the rejection of etf that made bitcoin bleed as of now. And also, when there's a great pump there goes the great dump. That's why hodl is the key right now. Don't be filled with doubt right now. It will go up once etf is published.

In my views,  I believe that bitcoin is nust undergoing a normal market correction and that is why fluctuations usually happen in the market.  With this corrections,  investors should consider that these dips is part of the crypto market cycle and the best thing to do is just hodl your btc and just have to wait patiently.

i really want to believe that the decision of the SECURITY AND EXCHANGE COMMISSION on the EXCHANGE-TRADE FUND as it regrading the bitcoin or blockchain related operations have a great impact on the market pricing of the bitcoin and that is what is being played out in the cryptocurrency market

Well, this makes no sense as everyday thousands and thousands of people are probably starting to find out about BTC, and the price still does not skyrocket as more and more are trying to get into BTC! WHHHHAAAAT? Where is the moon price-wise?

All that is not strange, you just don't really understand about bitcoin. Bitcoin and cryptocurrency prices are very volatile, the price can change even in minutes and seconds. don't be surprised by all this.

this is the risk of bitcoin, don't just hope that bitcoin will always be at the top. The volatile price makes it difficult to predict, the chart is erratic and can change in every minute and second.
I also feel a little worried if this continues to happen, all that can be done is to wait and hold until the price recovers.

Bitcoin is very volatile, it is also predicted by speculators who can't actually tell how the market is moving; non of us know when or how the market price and changes will be in the next few days or months; I think we should all exercise patience knowing very well that things will change just as it has been in the past three years, when the prices were rising and falling and finally it got to a point where the market price went high and those who traded in it, got a lot of gain. Bitcoin can never go down totally, it's just a platform to see those that can endure the present situation.

Bitcoin is not stable so do not surprise if its down fall again. That is why its really hard to say a word or expect in Bitcoin because you did not know when it the price of it  will change. I think we need to be patience in waiting for the price of bitcoin, and grab the opportunity once it will rise again. So stop expecting too much for it. Just go with the flow and it will come in your way.

A few days back, BITCOIN reached 8,000 after a long time. and today, bitcoin price falls down to $6200 back. many people told that bitcoin will hit $10K. So bitcoin is up and down right now. But don't be panic when the bitcoin is not stable

are you sure that you were understanding the market before?
just because some people said it will hit a certain price (whether it was a higher $10k price or a lower $3k price) it doesn't mean it will hit it. some of them are sharing their guesses while most of them are spreading nonsense.

what really happened was that after reaching the bottom at $6k, we were getting ready for the rise and we were on a good track about 1.5 month ago. then the ETF hype began and it caused a rapid rise in price but because that hype was based on an illusion it shattered and some panic came back to market and caused the drop back to the current level.
my guess is that we will continue seeing this nonsense sideways trend until ETF hype is over which i believe would take another month. and then we can expect the real rise come hopefully without ETF...

That's true, many people predict price but the market behaves in a different way. If I quote you  ''They don't know anything more than you or I do'' Yeah that's is the reality, you may predict any other markets. but Crypto market is very unpredictable. Many people asked us to hold when BTC hit 20,000 last year. we were foolish to do so, learn the lesson.

That's a good point. Is ETP approved now? I am not much updated about Crypto news these days with my busy schedule of my studies.  I hope BTC start to up again sooner or later. still believer. hope for the best. Thanks.

What reasons do you see that it is difficult to say which way that bitcoin will go right now? My point is , it is always difficult to predict the bitcoin price, so we shouldn't believe so-called crypto experts' entire words.

It will going to hit $10k for sure but no one really knows when. Also, don't complain on others prediction. It's just a prediction and no assurance that it will going to happen just like that. It's up to you if you will take their words seriously but would be better if not. Be optimistic we still have 4months left for this year.

Your theory is also not bad. maybe this behavior depends on the concept of   " buy the rumors and sell the news. whatever, all we know is, Crypto market is really really hard to be predicted. always keep in mind that.

No doubt. All we need is ETF approval at this moment. then surely bitcon will ben in the moon. Trillion dollars will come to crypto market. Do you think that we can get the ETF approval this time?

I have started to have a feeling that this market is highly manipulated and the whales and exchange platform are the one behind this. The way some predictions come true here is unlike what we do see in forex and stocks trading.