Bitcoin Forum

Do you think there these factors favor short or long on bitcoin? I lost quite some money looking at the recent Bitcoin price. https://cryptoinfowatch.com/bitcoin-price-falls-below-4300-proving-analysts-wrong/

When key supports are broken,  all bets are off.     We had a bit of a bounce, but it's still in a downtrend.   Even if we get back over 5K I would look for another drop.    I feel like bigger entities are just waiting for moves to liquidate people either way.


 I honestly don't know what to think about all of this.   Everyone is just speculating on what happened and why. 

Really a sound alarming but the current downtrend (that getting worst day by day*) will not changed my point of view.

Will continue to face the wrath of this price decrease because non sense if I will dumped some except if I will used it on purpose. Im already here facing the risks for long time and besides it's really difficult to acquired today even price will reached to below $1,000 (don't take my mentioned price seriously. it's just an example). It's like playing on gambling now but worth to take a shot.

Technically, as far as the most analyzations are concerned, the bear market will continue to bound for long period. But hey, it's still a speculation even how good the analysis is. It can be spoiled anytime.

Those who can't handle the current situation should now think several times on what should they do. Continous price decrease will surely stressed them. For hodlers like me, I don't mind if the price will decrease more. There are lots of reasons to believed that price will bounce back more even the progress will take 2 to 3 years.

Ver and Wraight are far from done dumping their coins.
I'd be surprised if they spent any more than 5% of their btc in this recent dumpfest.
As they have mentioned, btc will be under 1k before 2019, which seems to be a very real and likely scenario at this point.

If you lost a bunch of money recently, you're in good company I'm sure.  This has been one hell of a price drop.  I still tend to think of it as a buying opportunity if you're in for the long-term, but in the short-term bitcoin could fall even further.  I'm hoping it doesn't, but it certainly could.

And I'd posit that most of this speculation is useless, because nobody knows why bitcoin has dropped this much aside from more people putting in sell orders than buy orders--that will always be the standard explanation for any drop in any market.  It's anyone's guess as to why people are selling instead of buying.

I'm being quite positive actually, because for the past couple of days I'm seeing a lot of opinions like this:


It doesn't look it's going to go up soon but when everybody is pessimistic, it is a very good sign.

If it goes below 1k, it will be a nightmare, everybody will be running to the exchanges... to buy it.

This is another cycle of bitcoin, we've been through this at least 5 times now. Now it's the period where the bullish predictions all become inaccurate as we are going below what all the bulls predicted. These predictions being wrong will create a ton of clickbait articles about bitcoin being dead. We eventually bottom and the recovery starts but this is not realized by most after up to a year. Once the realization of the fact that we are not going to re-test lower lows happens the bull cycle starts gaining traction. Eventually FOMO kicks in, we go way higher than the bullish predictions (remember when $3000 predictions by the likes of Trace Mayer were considered as insane, and we went for $20000) . Please study the charts from 2014 to 2017 and look at the predictions: same thing happening now. Winter is coming, get ready for 2020.

Ha yeah seriously. I'd pick up so much if it went down that low, though I'm sure i'd spend all my money before it got that low.

This is only a nasty situation for anyone if you sell and don't get a chance to buy back in lower, or worse yet just sell and leave the market. I know, I did that in 2015, sold thinking oh this bitcoin thing is over. Now I know when panic is in the streets thats when smart money buys. Smart money is buying right now, panic sellers and selling.

The price drop doesn't worry me in the slightest, all this means is that this crash might end up being as big as the previous couple of crashes after all (80+%), if it goes under $4k.
I think we could see one final panic sell this week to under $4k. I would love nothing more than for the price to stay under $5k for a couple months until I get a bunch of money and join the smart money buying in at these prices. Buy now, sell in the next 3 years on the next boom, could make 20-30x on your investment I bet!

My coworker is funny, he is making fun of Bitcoin and Winklevosses right now for their Bitcoin investment, telling me I must wish I didn't put all that money in bitcoin, I just laughed at him, looking forward to buying in a ton more in the near future!

its best to stay far far away from the margin market in this insane volatility stay in BTC or in USD and off those gambling margins if you LONG or SHORT you are just going to lose money just HODL something and stay warm in this winter I think. you cant lose all your money if you HOLD

Is there evidence these guys are selling their bitcoins?

A nasty situation, indeed. That kind of selloff is usually reserved for bubble tops!

What's the consensus here? Support at $3,000? Lower?

Biggest volume we've seen in months, but still not like February. Still waiting for the selling climax, I guess.

I will not open my exchange for a very long time (maybe about 1 month), so when I open it again, the price of bitcoin is better than now. even though there is no guarantee for that.

The Winklevoss brothers bought $11,000,000 worth of bitcoin back in 2013 around $120 or so, and they began looking at bitcoin when it was around single digits in 2012. They were billionaires when the market was rallying hard in 2017.

They will never be lossing money, they will always be on the green and they will be multi billionaires during the next decade. Get ready for a lot of coworkers talking nonsense again during the next year or so and get ready to accumulate before we go $100k+

everyone who owned bitcoin lost some money! that is not limited to you and it doesn't matter when you bought, even if you bought at $1 you still lost money as price went lower than before. but the real question that will make a difference is what do you want out of bitcoin?

if you want a decentralized currency that you can use globally with a tiny fee and no middle man controlling you then you don't have to worry about the price!
if it is an investment you want out of bitcoin then you have to ask yourself whether you see any potential in bitcoin or not. if you don't then you shouldn't have bought it in first place and if you do then starting this topic is a bit silly since nothing has changed about bitcoin and its true potential and it won't change with some short term price fluctuation.
and if it is  a short term money machine you want, then again your topic is silly since the volatility is what a day trader wants and it doesn't matter which way the price goes as long as you see the direction and know how to make profit!!!

It's better for you to go through this selling because it will make you only stronger in the long run. It's all about learning from what's happening right now, because if you try to avoid looking at the market, and I understand how tempting it is right now, you will react in the exact same way during the next correction. In other words, don't walk away from it, but face it as it comes.

Crazy contrast there is between last year's November and today. From extreme happiness to pure desperation for most people right now.

if these guys were in need of money and wanted to sell bitcoin then they would have done it before the drops even began. not to mention that Craig doesn't have enough bitcoin to cause a small drop on one exchange let alone affect the whole price. and Ver is most probably currently buying more bitcoin :D

Not only you, many people have looses money in the recent bear trend. Those that sold for panic and bought at the price higher than the current price have lose money.  I still believed that majority of the current holders buy bitcoin above $10,000 and bitcoin is currently below $4500 . It takes Alot of patience to keep on holding in the face of this uncertainty.

Where bitcoin will go from here is really anyone's guess but the most logical thing is to look for the next support, until proven otherwise the market has to be considered as being bearish. Next support level is around $3000 which should be a very very strong support, unlike any we've reached this year. Let's see what happens if we get there.

Is there any evidence in whatever claims these two claim? of course not. Ver said he still owns many BTC, he hasn't proved this, Wright said he is satoshi, he hasn't proved this. He is on twitter all day trolling posting gif memes, that's all he does, and spend money from his "billionaire" buddy (also not proven as well, why should anyone believe Calvin A. is a billionaire?)

As far as sub 1k btc goes, there's too much bull pressure, the closser you get to 1k the highest the FOMO will be, we will never hit 3 figures again because anyone with 2 functional braincells will be selling their house, car and clothes to go all in.

forbes listed him as a billionaire (https://www.forbes.com/lists/2006/10/GCUD.html). i don't doubt it---he was in the right place at the right time with a successful brand during the online poker boom. that was back in 2006, but it'd be pretty hard to lose that amount of money.


i don't doubt there is significant buy pressure in the $1000s. but it's not from retail fomo. the retail investors you're talking about only show up during bubbles.

I think we have been here before, maybe not exactly the same situation but we have been at the same spot years ago. When bitcoin goes off to a huge number the price drops happens a lot ruthlessly then you imagine. First of all the difference between the 2014 years and today is that back at those times the price hit 1200 dollars but that wasn't that big compared to what it is now and people didn't know about bitcoin as much as they know now. It took a lot of years to get back to those numbers but that happened because people started to learn more about bitcoin.

These days the situation may look nasty but all we need is some ETF or some big company to get back into this spending billions of dollars just to get bitcoin, doesn't have to be one company, it could be collective, but when you put that much money in bitcoin you will get it bigger again.

We are already here before but the price is different and the decline price is a bit different too. So we need some big company to make a change in this nasty looking outrage of massive decline of prices in both bitcoin and altcoins. Someone is always hoping that a bull run will come again after a long time of resting.

As I expected he seems like "right thing right time" guy. Im not going to say he isn't bright because he could have seen an opportunity and acted on it doing the right things, but I don't think he has the required brightness to understand the very intricate game theory dynamics at play with bitcoin. Looks like another billionaire jumping on the bandwagon as many others have done before in the field. This is also typically how fortunes are lost.

Roger Ver was also bright enough to be doing the right thing at the right time (putting $25k back then in 2012 buying BTC), yet as we can see he isn't being too bright on the long term and he's been losing money.

Definitely, it's not only you that's affected by this current event. Eventually, tons of crypto users are losing due to the fact that cryptocurrencies keeps on falling. Well, this is how crypto works, it's not all the time we can gain benefits and we should always be aware from it.

This is true, in technical analysis there is support and resistance, and the price tends to move between those two extremes for most of the time but once you break the support or the resistance you do not know where the price is going to land, in the previous bull market it was impossible to predict how high the price will go and in the current bear market is impossible to predict how low the price will go.

What is currently happening in the market is general market correction for not only bitcoin but the entire market as well including Altcoins too. The period market correction normally last for weeks it depends on the market conditions. sometimes short period and sometimes long period of time. I think this type of correction won't last for than 4 weeks.

I'm also pointing out every time in my comments that this dip is just temporary downfall of the market. Panic will always be number one reason for this kind of drops, this time people are panicking for some articles how miners are destroying old miners and quiting mining because of the cost of electricity, or some other reasons. I think it's just a fud, and it's coming after bch hard fork, it's a war judging by the news and they are making a big noise on social networks. That or something else this situation will pass and we will see prices rising again.

I can understand no one likes to be holding a falling currency, but then again we'll knew bitcoins prices are volatile. I have always advocated for long term holding on bitcoins, and not to be effected by short term events. While I understand you may be starring at loss, but those losses will only happen if you sell them now, I would suggest you to hodl them, and wait to sell till you're in profit.

BCH and BCHSV being up +8% and +14% while the entire market is dropping 10-20% isn't a small hint?

good point. BCHSV in particular has bounced hard over the past two days. i wonder how deep calvin ayre's pockets go---that's who's bankrolling the SV side, right? it seems like such a dumb move, especially in a bear market. the original bcash fork was pumped and bitmain withheld their coins from market, and the network still ended up obscure and barely used.

on the bright side, if bitmain/ver and ayre/wright really are dumping BTC onto the market to fund this war, their coins are being distributed and they won't remain whales forever.

A price cannot be a nasty situation by itself.  Read up a bit further then just the surface and then decide if judgement warrants that conclusion.    We have a few effects in play that could be reflected in the price but ultimately I see no impairment to the protocol only news and some factors that dont favour speculation postive for Bitcoin right now.       Why is a lower price nice when we want to buy something but a negative in this scenario, you have to decide the overall market with more then just a personal bias and I think that gives a more accurate answer.

Mostly I just see deleveraging which effects a few markets, most notably stockmarkets reflect this withdrawal.    I dont see Bitcoin is anything distinct beyond that effect, some extra crypto news perhaps but nothing big afaik

https://i.imgur.com/yzoD6J3.png

With this last price change 3850 is a point to pass in a positive reaction to its rise from a support level and 1st target is about 4150 I think which is where speculators take their profits before coming back the next day or however it works in this revolving global market

Well yes and no, considering how much volume is needed to affect the market and how much they have, it will be one bloody mess for a long time to come.

That's been my bright side of the tunnel ever since I'd been looking at those active attacks from 2016 amd particularly during the 2017 split. Lot of talk about Bitcoin heavyweights and their ability to manipulate price from sheer balance sizes. But if they are really behind these dumps and the previous spam attacks, then at least we can surmise that distribution is also taking place. Every concerted attack has to eat at reserves.

And if not, it still represents comfortable entry levels for newcomers and latecomers (like me). It's all good.

Indeed, this is definitely a cycle which we should always bear in mind. Cryptocurrencies is a risk kind of business which it needs a stronger emotions and patience so that we can gain good amount of ROI. Some of the members here already see the patterns which the current state already been repeated so, holding or buying coins for now could be an options to take due to the price is some how good to make investment.

We have read many thread here concerned the current market conditions but many of us including me did not believe that bitcoin is going to be down to this level.  During my time of cryptocurrencies trading we always believe that you should not trust the market as it can easily give a surprise price movement and that is what I have seeing happening and therefore we were encourage to place a stop losses. This situation is very nasty as no one really know were bitcoin is heading towards and we are going to have the price of other coins heading down the more.