Bitcoin Forum

Today market is going down and in a single day 112B$ to 101B$ and still it is going down. Do you think it is getting ready to move up or it will go down further towards 5000$ or more. Track record of BTC shows that it is vrey un-predictive to predict about BTC.

Other people is just holding their btc other quit crypto space it is up for the next generation to announce what would be the next bloom price of btc albeit the price always fluctuate it is a good sign that btc is still functioning as an asset or investment what type of words you use for it.

I don't know what happened today but the whole market is in red like when a lady gets her menstrual cycle. I do not worry so much, I even bought more coins this afternoon. It will surely make me a 115-120% ROI within a week or less :p The usual newbies will sell their coins and regrets in 2 days later when the price comes back.

The main reason for continuous dump is panic selling so we should avoid these things in this bearish market. Because all the peoples are afraid in this situation but no one is take risk in Bitcoin buying so who are believe and more Bitcoin in this situation. They are all settled in future so we expect earn 1k USD in 1BTC. My advice is buy more Bitcoin and sell at right time is the best way so we don't think it will move dump or pump.

Right,the newbies are going to be the victims again in the game of whales so don't consider about this fall in my opinion because the price may ump back at any time because we already seen many times in this year whenever the prices falling below $6000 it will be back as soon as possible after the dump so in few hours even it may recover.

It may sound harsh, but newbies unloading their coins is the best that could happen and even speed up the process of recovery.

These shakeoffs is how market movers get rid of potential selling pressure, and it works time on time again. Smart money buys, dumb money sells. By the time the price starts pumping again it will be vice versa; smart money sells, dumb money buys. It's a never ending cycle. You got to love this market. :D

Bitcoin between $6000-$7000 was a good buy already, current levels are an absolute steal. Don't go all in though, make sure you buy smaller fractions per time, because we might see the price drop even further.

I guess this makes the 2-3 grand level that much more possible. Can't say I'm surprised in the slightest. The sooner the real scares are dropped on people the sooner we move past it and sort some equilibrium to build on future excitement. The 6-6.5 grand level didn't feel like the final stop to me at all.

I'm still curious who is the guy who sold all his coins and is now $10B richer..

I've incorrectly calling Bitcoin will bottom out in $4500ish so many times this year. I really hope it'll break below $5K, been waiting for this moment for a few months now :P I have no problems at all with Bitcoin going down, I love them cheap coins.

Totally agree. Averaging down is the way to go in a market like this. I think $4000-$5000 is the real bottom until 2021-2022 where we'll have another great bullrun (hopefully).

An interesting article https://www.cryptoglobe.com/latest/2018/11/bitcoin-drops-below-6000-for-first-time-in-months-as-13bn-wiped-off-markets/

Maybe the stop is at 4500$

Yeah .
bitcoin needs correction At least 5,000 usd per btc
The rich bitmain did not leave the support of the wall 5800-6000 for a long time; This led the prices Stability under severe resistance

I've always believed something along the lines of $4500, because $4900 is the last resistance point before it would start getting insanely cheap and thus ridiculous for anyone with 2 braincells to not be buying at these prices. So I believe we will go below $4900 in a quick dip, a nice flash crash that will finally remove all noobs and generally weak hands off the market. At that point all the fiat whales that still haven't entered will do so (through OTC deals of course, but eventually OTC will dry and they will need to go into exchange buying too)

The big channel still remains:

https://i.imgur.com/fMG55Mx.jpg

It's just market noise as usual. Buy the dip and stay within the channel. $100,000+ is coming in a couple of years anyway.

With Bitcoin everything is possible, prices in range of $4000 can happen, but not likely. We'll either have $5500 as a new floor for a while or return back to low $6,000 soon - these are the most likely scenario's IMO. Maybe this is all a preparation for ETF announcement, like it happened earlier this year, or maybe it's all because of bcash.

@cellard, you may be right while thinking below $5,000 is a more realistic price, but an adjustment of 20% within a 24h period is not a "natural" adjustment. It's something that usually takes place within several days or weeks. I didn't read the news so don't know what's going on.

I've been saying this for quite a while now - I fully expect prices to dip further in this bear market down to around $4-5k potentially. That seems like the trend from the past bear markets where prices have gone down similar percentages before recovering.

Apparently, the price dip was due to people selling off coins for tax reasons but I don't think that it can be solely attributed to that alone. The bearish sentiments certainly acted as a catalyst in this dip.

$5k is likely as a bottom but we don't know whether bitcoin will have a short term rebound this time just like the previous few times, or actually fall through the $6k support. Anyhow, if you do have spare funds at this stage to invest, I would do so wisely as I believe we are close to the floor for this bear market. Recovery for the next bull market is still quite distant right now, I expect that to happen mid to late next year.

I've been reading the news myself looking for something that would explain it and I only found the 2 things that I mentioned, and these aren't probably relevant at all. Asymmetry in information is always there so we may be missing something. Until someone comes up with a better explanation, I believe it's futures contract expiration manipulation as usual. They want to reach total demoralization point so they will continue trying to keep the price low. Their only goal is to become the biggest players on bitcoin and they have the tools to do so. Once they have amassed a couple million BTC they will default on USD debt and claim BTC as world reserve currency. This is a long term plan of 10+ years so this is nothing.

When I saw the price in the coinmarketcap, I thought: "I will see many Thread with titles of people whining and thinking that we will see the $4000"

and I got it right


This was expected, the price was stagnant for a long time and did not rise so it was predictable that it would fall


It is more likely to fall than to climb, see that there is no good news able to raise the price and people know this, so I believe that there is more chance of falling prices than increase


True

Business as usual. People expect an increase, think $6000 is the support that won't be broken again, and the market does the exact opposite. This is why I remained so conservative in the last couple of months.

There is no point in looking for reasons, we never found out why the price went down in the last months, and we won't find out the reason for the current dump. Don't waste time trying to figure out what happened.

I managed to buy myself some coins slightly above $5400 and I am thankful for the opportunity. The price won't keep going down endlessly, that's why you have to use the current levels in your advantage to fill up your pockets.

After all the years we've been here these kind of price swings on a short period of time or lets say at 24 hour scope movement.Im not already surprised on whats happening. Price been somehow
stabilized for how many months already and there are already some bullish news do happen but the price didn't react. For people who haven't the time to read up
some things circling around will definitely got confused on whats going on.  :D

It depends if people will continue to panic and dump their coin. I thought we're going to have a rise because we are near Bakkt and holiday season but then again the unexpected thing happen. This is bad for those in need of fiat. They need to sell it at this price no matter what. Hope the price will recover in December.

I want the value of the bitcoin to up again, but depends on the situation if many people buy again bitcoin because now a lot of people who are selling their bitcoin so the value decrease more and I hope they will stop them.

This is what I have felt so far, before many said that the market would recover at the end of the year. Even so far I have always seen if at the end of the year the time for correction to occur, we can see that the market is now red again and this is a big correction and it is likely that there will be many people who panic too. Yes it looks like the next stop is at $5k, we need a long time to see a recovering market or maybe this is the time to rise in the near future. Be patient.

We are already in and whatever happens we have to face it.  $5000  is possible and turning from $5600 is also possible.

  I just read a post now when the op said bitcoin is never going to go below $5000 but to me we can not really predict this market and the best thing to do is, knowing how volatile this market is and buying as much as you could when it is down and do likewise when it up.  
Remember that since yesterday bitcoin has lose over $750 dollars and this is a huge loses in the face of this bearish market.  If you are still holding it is best to keep holding until you can sell above your purchase price as bitcoin will still recover in future.

 If you have risked capital you can also buy now that bitcoin is extremely cheap.

sometimes many people say BTC will increase at the end of the year, but on the contrary what happens now is a decline that reached $ 5600 I think this will continue until it touches $ 5k
now it will be truly tested for the patience of everyone who has BTC.
but I'm sure this won't last long, BTC will go 10k in a few days.

It will not fall to 5k levels. Should be rising soon now and somewhere similar to last year if it happens now we can find btc to 15k levels before the year end. Though the next question is that will it be able to sustain in the long run on those levels is the bigger question. But for now time has come to buy some on the dip.

Yes, 5000$ could happen. Still I don't think that it will go lower than that but it's important for users not to start panic selling and to make bad decisions.
It's a correction that to my opinion will not turn to serious dump.
Anyway it's a surprise for some who expected a huge pump at the end of the year and now they are experiencing the price fall.

This is all being done by those very supporters of BCH before the hard fork, I've read an article over this here: https://www.livemint.com/Money/R7zsFnlAt4QnOv4UCet6QI/Satoshi-vs-Bitcoin-Jesus-Bitcoin-Cash-battle-turns-persona.html where everything looks to be explained perfectly as to what's affecting the markets so badly. Due to the mining wars that have started and the hash rate of Bitcoin is dropping down gradually after BCH seeing an instant spike on the hard fork news, I believe it's a matter of concern and it (the dump) will now only cool down once BTC proves to be the winner again in this controversial debate. Though, wait for December to come, and then see.

Some people are connecting it to CBOE contract that expired today. They are thanking it for the massive FUDs spreading around. But I still don't worry because I'm sure the OTC whales will buy it back to $6k value. The market was manipulated so well so it's up to you guys if you want to quit because that's what they want to happen.

I think that the price will reach the level of 4800 and then very much bounce up, just think that this fall means that there will be a good growth and very soon !

It seems possible but we also have to make sure whether it will continue to plunge or not,now around 5670 has dropped in the range of 5500 but surely investors will not stay silent for sure we will carry out this push.

Yes it is true that predicting bitcoin price movement is really hard, even indicators shows that bitcoin is going bullish when all of a sudden a drop in price happen.  I do think that there is a slim chance for BTC to hit below $5k, and hoping this is just a dip before the rise.  But this is cryptocurrency and anything can happen so I guess better be holding than shorting and buy when it goes lower.  Remember BAKKT is just around the corner and many believes that it is one of the catalyst for the price to catapult.

this is interesting, I believe most of this is preparation for the fork, many will not want to see what the price does AFTER it so they make a calculated decision to cash out before, its nothing to worry about, we have all ways come back with vengeance, miners will all ways mine most profitable coins (only true for non veterans) so who knows what hash rate they will be taking.

I am still overwhelmed as to how much hashing power we do still have as the price does not warrant it :-/

I do still think we have a ways to drop for now, might hold down a month or two, which will in turn push more people to panic sell, which will drop the price more, we will see the 7-8k mid 19 with touching 10's again in early 20, any other ATH will be just a spike, sell then.

this is just my opinion.

I haven't looked at the angle. Probably its a combination of the BCH war + CBoE bitcoin future contract expiring that triggers and cascading this massive sell-off. So this is another unknown territory again for newbies to get in while the price is at $5800 last couple of months. To be honest, I don't think that we can get below $5000 so let's see, if I'm not wrong, the fork will be today so we all need to be vigilant and see how everything goes. Wright has been in tweeter tirade as of late because of the split with BCH-ABC so its going to be interesting. But for now all we can do is to wait till the dust settled and hope that it won't go further down.

I have already thought about this and not because I saw the cover of The Economist magazine, but I have arguments and facts that go in the same direction.  I could go far, but it's not easy to have a proper discussion in the forum.

The NSA started to research about creating a cryptocurrency in the 1990s. There is a document from the NSA itself on this subject that is accessible to all. We don't know what they did with it afterward, but we know very well that usually the new technologies available to the mass population have already existed for a few years and are often used firstly by the national defense (e.g., Internet, Bluetooth,...) and some other industries. I will not debate the Satoshi's unknown identity, but a project like Bitcoin could very well come out of an American agency (at least they could very likely have the capabilities.


The NWO plan? Yeah, that's also an argument.
Creating a universal currency was a project that was thought out decades ago. Europe has served as a laboratory, both politically and economically, for the creation of a single government and a single currency (Euro currency, European Parliament, European laws, European economy, etc.) Now European countries have to abide by the European laws before the national laws.
European citizens are brainwashed with Europe on the news daily. Europe this, Europe that, EU quotas, EU presidency, EU refugees,...


If one of their goals is to create a monetary reset and switch to Bitcoin as a universal currency, why did they make it possible the creation of other cryptocurrencies, and did the project as Open Source? It seems better to not create an Open Source project in such cases. To attract the trust? But they also attract competitors (the altcoins), so...

well, let's wait for that. however, at the moment I think there are so many coin holders who have started to panic at rapidly decreasing prices. well, right now, prices are starting to stabilize again. I hope the price of the cryptocurrency will recover quickly for this year.

There is a possibility of a free fall but if we will consider its charts you will see that BTC is extremely oversold already and the volume as well is thinning out on its hourly chart, this only means that the selling has stop drastically on the past 12 hours. Also MACD is way below 0, even though it is not pointing upwards yet it didn't stray away from the bearish crossover we had. 5,050$ is a possibility as our last support is in there before it drops down to 3,900$. Hopefully we just recover at this moment bu there is really no assurance that it will also happen.

Perhaps a good idea to fact check what you read? Bitcoin's hashrate didn't drop at all, it just fluctuated as it has been doing for a while now;

https://www.coinwarz.com/network-hashrate-charts/bitcoin-network-hashrate-chart

It was BCash hashrate that dropped significantly as seen here in this chart;

https://www.coinwarz.com/network-hashrate-charts/bitcoincash-network-hashrate-chart

People give CSW too much credit for all his deeds, while the main contributor, especially in financial terms, is an asshole named Calvin Ayre. Don't fear those who are barking in front of your face, fear those who lay low and let their sockpuppets do the dirty work.

Positive aspect of the price fall is that when Bakkt is allowed to push its futures market live, there'll be a heck lot more demand now.

This is a situation that is not easy, we are in a very difficult condition.
I think we should try to be patient and face this condition with calm.
Many people experience losses and this is indeed difficult to avoid.
All we can do is try to be patient while waiting for the situation to improve again.

Yeah, sorry about that. I should have checked things before posting, but it was like I got swayed away in the words too much that I forgot to write about price that fell down, instead of the hash rate.


Yeah, it was probably due to CSW's tweet that threatened every single miner except JihanWu that they shouldn't switch their machines to BCH or he might need to switch as well with the help of USD by dumping his BTC for the same. These clowns are trying their best to dupe in people making them lose by selling under panic attacks. I don't know why, but I feel the timing of this dump was so concrete it might have helped many big investors got their buys attacked and got BTC bought for such cheap rates after a long stable period of $6200 levels.


True, Ayre is playing behind the scenes and I only saw what's being shown in front of my eyes but didn't see what's cooking underground.

It could be related but I do not think this is relevant enough for Bitcoin to matter. As far as Bitmain allocating hashrate for BCHABC, where have you read this?

https://bitinfocharts.com/comparison/bitcoin-hashrate.html

Zoom in in the latest weeks and I do not see anything out of the ordinary, in fact Bitcoin hashrate keeps going up as usual. DO you mean the rumors of Bitmain allocating hashrate out of BTC into BCHABC could be causing this price speculation? it's possible.

Yes I know that now, and I've already apologized for this in my message here: https://bitcointalk.org/index.php?topic=5069265.msg47927152#msg47927152


Yes it is, because the war is being spread wisely through words only, but due to them playing hard over these debates, they're trying hard to influence the crypto audience as well as miners to get them their sides each, this is stressing out real hard and due to talks getting stretched to personal levels, this is not going to be easy this time and we're to fight it out with ourselves only to keep the value where we want it. Whether BCH or BTC, we don't want to get the values thrown down to dirt levels because that will only affect the whole crypto market cap to drop down hard, don't you think so?

Of course it is something that is expected to happen even as much as a lot of people were shouting bull run or thereabout, and this is usually the time we get to see a lot of people end up capitulating and before you know it bailing out from the market and then coming back later on to say how they sold at the bottom and have now missed a new ATH.

We all have to understand the fact that the main reason why we see market act like this most of the time is to chase out the weak hands, because without that, the whales will basically have nothing to gain, so in a way, it is left for you to make that decision whether you want to be a weak hand or not.

I think if it breaks the $ 5,000 threshold then it can go straight down to $ 4000 or even $ 3000, if not break the threshold it will recover and go up.

I just hope the price of bitcoin doesn't drop below the price of $ 5000, because that will be the lowest price, and of course it can make people panic. well, even the current decline has caused many people to panic, I still hope the price will go up higher.

I hope the price will not drop below 5000$ even though the market seems to be in a downtrend, only whales are manipulating the market in order to buy the Bitcoin at a very low price. So people should not panic for the little dumps in the market. When it is in a downtrend we have to stay away from the market.

It is obvious that the current movement of bitcoin took everyone by surprise but there is not a reason to panic and to think that we are going to reach such a low price, it is likely the current price is going to remain for a few days or a few weeks and then we're going to go back to normality and the price of bitcoin will be above 6000 as it has been for the last months.

Be optimistic, we haven’t crossed Christmas till now. We have good ties with bitcoin and we are quite hopeful it will not let us down. It will shoot up in coming few weeks again with superb boost.

Well as you said, it's extremely unpredictable so it doesn't make a lot of sense to try and foresee what direction it will take from here. We've been a little complacent with the previous stagnant price that the dump shook a lot of people. Guess we just have to prepare for whatever will happen in 1 and a half month.

in this market if you want to be successful then you have to stop being excited about each price move. for example in this case you are acting irrational and based on emotion saying price is down to $5k or in case of rises for those who saw $20k and thought $100k is the next stop.
this move was a small one, although it is risky but this drop is all there is. you can't predict any lower level based on nothing since it has dropped because of nothing! and as manipulations go, they are unpredictable.

When someone starts a topic like this I usually say stuff like "that will never happen" or "I do not believe the price would go down that much" and what not but after last night I can definitely see something like that happenning now. The trouble with my thinking was I really believed bitcoin can't go lower than 6 thousand because the price wouldn't make sense for miners to sell, when the miners decide to not sell for anything under 6 thousand dollars the buyers wouldn't be capable of finding cheap bitcoin and that's why price would always stay above the 6 thousand dollars.

However, last night the miners themselves literally sold bitcoin to cover for their war and that wiped out all the logic I had for my 6 thousand dollar limit, it was miners themselves that caused it, which means there is really no turning back, if they want to sell all they have, we can't stop it.

I agreed with what you said but if the demanding of the market is not high there's possibility for the miners to sell at bottom price and we must not forget that acouple is thanksgiving which some bitcoin may need an emergency fund for their families I presume this will also lead to dump price.
Meanwhile, bitcoin will experience but not $5000 price range and it that does happened, it wont take awhile before the market spark up.

Exactly, I don't know where all this drama is coming from. Are there no reasonable users who have experience with Bitcoin and have seen different scenarios with price? It looks like only newbies that are making terrible panic are involved. So much emotions that are no necessary at all.
Even if the price goes down to 5000$ it's not the end of the world. Stop thinking that Bitcoin is only valuable if the price is above 10000$.

I really doubt that we are gonna test $5000 during the last few days, maybe we are going to bounce back again and the price is gonna recover

anyway, no one knows what can really happen in here, but we all want to see the market and all the coins recovering

I would be glad if btc touches at least $7000 again

Being prepared for whatever happens is the only thing that we can do, most of the time I see people that are preparing themselves for the next bull run and while there is nothing wrong with that most of the time they are not prepared for a scenario in which the market doesn't move for a very long time or a scenario in which the price goes down and that is why they panic.

That is always how it ends up. The smart ones will see it as an opportunity to be picking more and then having some good gains in the long run eventually and then we will see the weak ones selling at loss and losing hope on the market, which is practically what the whales or the market generally wants.

It is obvious to see people panic sell anyway and since we tried to push out of the triangle, and there was no buyer to participate to push it higher, I guess we ended up seeing sellers and more weak hands to push it lower. Looking forward to a good bounce as we move on from here and looking to buy every single dip on the way down.

5000  USD is the last price bitcoin could trade. Even though the market is bleeding and things are bearish but the possibility of bitcoin rising back to 20,000 is still high and that is my prediction for the first quarter of 2019.

You are very hopeful I doubt 5000 is the bottom for the gushing bleedout the bottom is around 2500-3000 id say just like when we first went to 1200 we dropped to 100 and stabilized at 200 this could be a fall to 2500 and stabilize after at 5000 usd considering putting up buy order longs at 2500 USD I would say

Bitcoin is heading toward $4500 base on the level it is falling today.  I am surprised to see bitcoin just a little above $5000 . Things are really going down and to me it is still worth to hold if you have a long term view in mind.  Selling now is selling at loses, above 50% of those holding bitcoin must have bought above  the current price.  It takes serious patient for you to keep faith with the market as the current market conditions is discouraging.

So today we have bitcoin at 4800$  if break we will see 4500$
Bloody days i am curious why.Is it because of SEC
Or maybe selloff on technology
Nasdaq is only 26 points from 7000$ support level
ETH on last hope support 150$
Or we will have strong rebound or armagedon

You're right, right now, it's the lowest price for Bitcoin and Eth since the beginning of 2018. Well, I think this will be a good end of the year, however, at the moment the price is really beyond expectations. well, but this has become a risk from the world of crypto.

I have been looking for some information about the caused of the current price decline, but I have not found any scary information so as everyone sold his assets.  However, at this time bitcoin traded at a price of $ 4800 and this is pointed out the price of bitcoin touched the lowest price this year which was previously only stable at the price of $ 6400- $ 6500. I believe that the price of bitcoin will continue to decline maybe touching the price of $ 3000.

Rename the topic.

Next Stop of BTC .. 3000$

Exactly there is no tool of prediction the movement of bitcoin. The coming days and years, what about them? Nobody ever knows. So try to make your mind strong and be on the strong determined path.