Bitcoin Forum

On Wednesday (November 14, 2018), Brian Kelly, founder and CEO of digital asset investment firm BKCM LLC, explained yesterday's "crypto market crisis" that led to double-digit percentage losses for most basic crypto-conversions, including Bitcoin, which dropped to $ 5,569, its the lowest price in a year.
But Brian Kelly suggests not to worry, saying that in his fund they used the moment to purchase. Do you agree with him?

No, that was a mistake. I think it will go much much lower. Bitcoin is at the beginning of the end. The end is near. Time to panic and sell sell sell. Everything!

It really is going to hell. Everyone can see it, but doesn't want to admit it and blame it on imaginary whales.

Well, the price I'm looking at right now is 5,514 on average with coinbase and bitfinex (which deal in usd not usdt)  showing $5,415 and $5,416....so his minimum is no longer a minimum.


Funny how a part suddenly says they are buying, the others are hodling yet the price is going down showing that in reality...people are selling.
We need to get past the bshit drama and the hashrate war and we will see greener pastures ahead  ;D

Tell you what. Don't listen to these so called crypto "experts". No one knows for sure what the bottom is, and no one knows when exactly is the perfect time to buy. Even Mike Novogratz, the CEO of Galaxy Digital, said that the bottom was the previous $5,800-$5,900 low. Guess what happened to the prices today? These experts really predicted it right huh?

If you think bitcoin will be successful long term, then it doesn't matter at what prices you buy your bitcoin right now. Unless you're just trying to make short term money, then it's pretty much a gamble.

great... and i literally bought 1 hour before the price crashed, now im down 15% in value

we don't need to worry about the price of bitcoin continuing to fall to touch $ 5,569 because surely after this goes, bitcoin will go back up because it's already at the end of the year as said Brian Kelly

Many people are down with about 80%,think of users who bought during the 20k dollars time,and are still holding up,expecting a rise, it takes a really strong mind to survive in this network..
As always it'll always be right to hold on, as it'll be foolish selling lower than you bought,except you're in real life financial crisis

First things first, you really dont know what is the base price of the coin you cant say that the todays price is the floor price, second if the market is at its floor price you should consider the time because for sure when the market drops to the floor the market will really took time to recover.

Now isn't exactly the time to dump. You can buy if the money is still there. It's even better to buy altcoins, because when Bitcoin starts to grow, they can grow even more. If you don't know what to do, do nothing - a Chinese proverb.

I agree with that. because every dump happens to crypto. it is an opportunity to buy and take profit. it's just that, at the moment Bitcoin is like being in conflict with BCH. although the opportunity to buy is good. but stable waiting is better. because I think there will still be a dump again.

Though we're not if bitcoin already hits the bottom, what he just want to say is that you take advantage of the sharp decline. You can buy bitcoin now or maybe you can still wait and see what will happen in the coming days. Now, bitcoin is good for long-term investment. Majority of us here in cryptocurrency believe that bitcoin is highly capable of recovering.

They say rich people use their time to think and rethink about opportunity that is staring at them. Bitcoin drop is an opportunity to make more money. So investing at the right time is the best thing to do because price will recover again.

This is a rather chaotic time. Yesterday, I visited forums and social networks about Bitcoin falling to $ 5800. At times we need to stay calm and watch the market often, otherwise you will suffer damage.

The crypto market will gonna rise again no matter what will come against it, crypto can overcome all the unnecessary things. Well, we know that the market is volatile so possible that tomorrow it will hit the pick. Time will come of bitcoin recovery. Don't lose your hope.

Obviously it's hard to say anything in such situations. Under normal conditions, we can see hard exits. But it is very important what will do Bitcoin!

I am also expecting some positive vibes in crypto market so bull run is start soon in crypto and we are all ready to accept any situation in this platform. I think few peoples only understand the market situation so we never loose the hope in crypto and good investors are buy more Altcoin and Bitcoin in yesterday market.

Just bought more ETH and BTC today.
I know that the fall is due to BCH fork.
Therefore, BTC price and ETH will be normal again or will rise soon.
After the fork i am expecting a good profit! but will still hold.

I'm holding off on buying any more coins, also I'm holding off on selling. There seem to be a combination of events, China miners being switched off and bitcoin cash hash wars that could be contributing by way of decreased hash rate in bitcoin. I'm going to wait and see what happens in the next few days and go from there. If you watch the exchanges there are consistently big sell orders being placed that must be coming from somewhere.

Yeah right. When it falls it is the end. When it goes up it is silent.  ;D

Why even go to a bitcoin forum just to say things like this? Ain't that just a waste of time? Or you just here to advertise that signature and personal message that you have?

Bitcoin is dust before please remember that.
Oh and all coins are going down. Nothing can escape this fall. All of the coins will dragged with it once bitcoin falls. That I am sure about.

The market is on the minimum at the time of this post which indicate that more sellers are trooping into the market to sell fast whereby creating more panic and also contributing to the current dwindling price of cryptocurrency. Though it might go down farther than this but the general community of cryptocurrency must HODL to fight back, else the whales win.

We should all be buying and hodling during this minimum but the reality is that panic sellers are bringing the markets down. There is no news to justify this so reason is unknown

I agree with the statement of Brian Kelly, founder and CEO of digital asset investment firm BKCM LLC. because I believe the blockchain technology in crypto will not die and I also agree that at the time of this decline is the right time to start investing, but I still doubt the price of Bitcoin, because there is a possibility that Bitcoin prices will decline until the end of the year.

Yes, it is an opportunity to buy and take profit. So we don't need to worry about the price of bitcoin and we should buy bitcoin at this time. I think bitcoin is good for long-term investment. We believe that bitcoin will go back up. So you can buy bitcoin now.

yes i agree with him. I saw the price, how great it feel but i didnt really panic but rather felt excited because it was an opportunity for me to buy more bitcoin and other cryptocurrencies whose prices went down. I advice everyone to buy cheaply now and hold

Recently i was seeing the chart and indeed after several times bitcoin price seem stuck then today bitcoin are back to red again but i'm not panic and i was thinking about my friend advice that he say bitcoin will at range $5000 soon and after seeing today price possibly it will going to happend and if his prediction correct then it could be good time to buy

Our customers would say so. The traffic we currently have was unseen since the time of XRP bull run this October.
Our support has asked some of them on chat why they decided to buy right now. Many of them expect, that it is the last moment of downtrend before the annual rally.

Knowing that the price slipped $200 more than his projections, I believe that this isn't the end of the carnage and there would likely be more room for bloodbath in the next coming days until the fork is finalized. I'd still have my funds on the ready though in case it slips into my target price ($5000) and I'm willing to take the losses should the bottom slid further. As of now, everyone should pay attention on the development of the BCH fork drama as they seem to have more control on bitcoin than we ever thought they have, and it could also be a basis of our next trades just like how China and their on-off stance regarding bitcoin in 2015.

People don't really have to listen on anyone's analyzation if they will take it seriously. They should take that as "reference" and not as an advice to the point they will just buy the story easily. With the current situation, it's on our own hands how to deal with these.

To buy , to sell, to wait for more dip etc... our decision on how to deal on these will be based on our own analyzation. Yes a guess since no one knows what will happened but if there's a good support about your claims, then test it and see what will happened.

This is how we play with the risks in crypto since the beginning.

If you really believed what you just typed you wouldn't be here wasting keystrokes. Gtfo with you shit advices.

this was a very bad day, when I looked at the coinmarketcap I thought something very serious happened, but I did not see any news that justified a price drop like this, maybe as I said in a comment last, people must have been tired because the price did not go up so they decided to sell their currencies, notice that this happens at a time when "Bitcoin Lightning Network Reaches All-Time High Capacity (https://cryptoslate.com/bitcoin-lightning-network-reaches-all-time-high-capacity/)".


This: " Brian Kelly suggests not to worry  "  this only works for those who want to insure for many years or for the savvy traders and who has a great knowledge of the market, for other people already should be in panic

Of course, who will not going to buy at this kind of price in the market? It's seldom to happen that after every fork there would be a dump in the market, specially in the bitcoin market. If i were you i will buy as much as i can too because it would be your finest investment since the bearish market starts.

I hope the price for this now is the minimum and not to dump more. Im so sad to see price become 5000 dollars because more people losing their money. I suggest to everyone to become united to pump again the value of the bitcoin.

It is not a minimum value in Bitcoin because we see this was reach 5k USD in this year but it is maintain a more than 5.5k USD.and again market is stay in a same level so it is waiting for quick jump in crypto market. Because crypto hunters are buying more Bitcoin in current traffic so everyone earn some profit in future.

Bitcoin hasn't reached 5k this year, it's not been lower than 5400 which was in the last days. The market was steady for the last 3 months and everyone said that meant it would be bullish soon, that was proven to be wrong. Why would this time be any different?

Bitstamp bottom was $5199, so yes it's been lower than 5400.
Bitcoin is a great store of value, but only if you time it right. Isn't that a contradiction?

That's only one exchange, I take your point but I was referencing the overall weighted market average. I didn't actually know it went as low as that on bitstamp.

That's almost an oxymoron, something being a great store of value should not really depend at all on when you invest, at least by definition.

I don't know anymore. I have bought a lot during the 6 thousand era in this past 5 months and I wouldn't change any of it, I still trust that price but if you ask me we still don't know how long this war will be. There was this twitter address like whalealerts or something and it showed there was so much money moving around in the past 48 hours.

I do not mean so much money compared to what regular people do, I mean literally so much money for even whales. I have seen 30 thousand bitcoin moving from one place to another, we are talking about 30 thousand bitcoins, that is literally over 150 million dollars at any given price. If someone wants to cash that out to pay than we are literally screwed. Another 150+ million dollars cashed at bitcoin would really just destroy the whole price to a point it may take a long time to recover.

Yes, I agreed with what the CEO of digital asset investment firm BKCM LLC said because this act of cause panic in the crypto market so that the whales can later buy at the bottom was the strategy played most the whales from the early days of bitcoin but the hurt side of it is that the new investors are those that are set as prey.

Well, I agree that Bitcoin price will not go lower than 5000$ this year and if you have some extra funds it's good opportunity for buying.
Despite many expectations that the end of the year will bring us price pump just the opposite happened but still I don't think this is a bad thing. The price will not sink deeper, we still can call this only correction and if you buy more now you will have good start position for the begininig of the next year when price might start to rise again.

There is no way to know if we found the bottom already. People wrongly assumed that the previous support level would hold strong because of the base mining cost, but that turned out to be based on nothing but empty hope.

Mining cost is different for each miner, and isn't anywhere near $6000 for the largest farms, and will likely only reduce with how they work towards their own ways of generating energy, and then we have more efficient hardware.

My word to the everyone else is to remain conservative and don't take support levels for granted. Crypto currencies (even Bitcoin) can fall way below the levels you think are insanely low already. Expect the unexpected.

The price of bitcoin is really surprising that many of us users thought it would not go lower. But recently, price declining again so we should expects the market could go down again this time. We don’t know if this is the bottom so let us be ready on the next move in the market. Buy some for those who can take the opportunity at this time.

If you are confident that the prices will not go down any further, then you can proceed with your plans to purchase Bitcoin. But I don't think that you can be sure about that now. The trend indicates that the prices will fall even more.

It's really hard to see where the price could end up at this point. But if you wanted to be what they called a bag holder and long term holder then you don't have to be a rocket scientist. Just invest today and don't bother with the price for a year or two. But if you're going to short bitcoin then I say this is not the right time to do that trick.

And i don't think it's a good idea to short bitcoin anyways.  Lots of people lost money trying to do that this year. And who knows if the price would still move down further. It's a risk. Buy now if you plan on making btc a long term investment.

like everything else shorting bitcoin can also be profitable only if done correctly.
for example if you short bitcoin just because some FUD said it is going to fall to $1500 then obviously that is not a good idea, in fact that is a very dumb idea!
but if shorting was performed during the bubble burst and the crash of earlier this year then it was a good idea because that was a real downtrend and you could take advantage to make some money to t hen buy back more bitcoin at the bottom.

right now is one of those times that people should focus on buying because this is below the buy support line!

Even if you're going to be a bag holder, finding the right entry point still makes a big difference. Say you're sure the price will be $10k by end of 2019. If you buy at $5k you make 100% profit, if you can time it and buy at $4k you make 150% profit, it's a big difference.

I still think it is a better shot at getting ethereum than bitcoin. Ethereum can go 5 times higher than this and people wouldn't be shocked. Right now it is under 200 dollars and it can reach the 1000 dollar mark and we wouldn't be even at the all time high prices.

We need to go like 10 times higher than current price to break the all time high prices. However, in bitcoin even a 4 times higher than this would mean a all time high and 10 times than this price would mean over 50 thousand dollars which is more than double what the all time high price is. That is why I honestly believe that ethereum has a bigger chance of making you a lot of profit because it is both a great coin and has a lot of uses and many companies started to use its blockchain and also it is incredibly cheap right now.

At least, that is what most of the people is doing at the moment, this is an accumulation time, and i think that we all should keep buying more and more bitcoins

The market is pretty unstable, but i am sure in that it will recover at some point

I do not think that the market is at the bottom and in general, I do not advise anyone to wait for the bottom in order to buy. Just follow the trend and you will always win. It makes no sense to wait for the most extreme point to enter.

Eth was a one trick pony with it's ico shitcoin scams that nobody buys anymore, and for damn good reason. Fuck eth, it's heading out of the top 10 just a matter of time.

@WinslowIII I dont think you know what you are talking about at all. With their new developments price could easy skyrocket! And I believe that they have most active team in whole crypto world!

Well we can’t assume the downstream value of bitcoin. This year, it is the lowest price at five thousand and some hundreds. But be hopeful for a bright future ahead. Keep yourself updated.

The prices are low. Don’t wait for the next day and the next one and next just for the deceasing of price. You might not be seeing further low price tomorrow. This is golden time and any day bitcoin can start its upright travel.

Hahaha it seems you have some bad memories attached with eth. Buddy its okay if you aren’t making good money from some coin but don’t say shit words for it later. It can harm the image of this coin.