Bitcoin Forum

Right now, the cryptocurrency marketplace is colored RED as the correction is setting in. Bitcoin lost around 10% of its price after touching the $8,000+ level the other way and is now steadying at $7,300+ for now. Other major altcoins followed the same trajectory as they also shed some   of what they gained the past few days. Interestingly, just a huge single transaction triggered this ongoing "crash" if I am allowed to use this term.

Just another turn of events confirming how volatile bitcoin and the rest of its gang is...one day we are all excited as it passed the $8K level and then soon we saw the red spreading like a big wildfire. However, volatility is a two-edged sword...soon it is back on the game and on track to win over the $10,000 prize.

Completely agree with your statement " However, volatility is a two-edged sword...soon it is back on the game and on track to win over the $10,000 prize". This was suppose to happen and it happened fast. I predicted that Bitcoin will touch $8500 level and then correct itself to $7500. But, as we all know. it is hard to predict Cryptos. The next resistance level is $6800 -$7000, if Bitcoin can hold at that level, then I am sure it will touch $10000 very soon.

Expecting Bitcoin to reach a all time high by this year end. 

Could you elaborate on this point?

I'm a bit disappointed as I didn't expect the run to be so short lived. I mean, I was expecting a correction sooner or later, but I thought it would go higher (I was so ready for the Vegeta memes again) -- can't complain about nearly 50% growth though. Hopefully, this also signals the beginning of the drop of fees.

I have not for once expected price to keep increasing because we are in a volatile market where we can not predict the future but we can only speculate about it but not accurate. The market today is not in a good state however correction is part of the market and at that we have to go through this phase.

This has become part of the nature of the market and not all goes straight and continues to increase and there is time to go down, the market fluctuates and prices can change significantly from time to time which cannot be predicted.
and now the price of bitcoin is around $ 7,000 and in my opinion it's still in a pretty good price situation compared to prices in the previous month, it's just a correction and the market or bitcoin is likely to recover and rise again.

After a green candles Bitcoin is in the mood of gaining red candles  ;) The price of BTC has fallen to $7.2K and on the contrary other cryptos, the price has shown a good move. Now for BTC, it is important to gain stability and sustain it for a particular time.

The price are now having a correction so it is normal in crypto market .
You should already know it by now everytime we would experience a huge pump on the price there would always be a correction so the price would be drag down.

There was no single crash that dropped the price this morning.
I saw it going down live at coffee time and on bitfinex it took about 15 minutes to reach the bottom and about 10 on bitstamp, probably on some other exchange it was a single drop but it took a long time to replicate though all exchanges.


I doubt that will happen soon, huge backlog, a bit of fomo, a few chains on top of blockchain, for a while we can forget about under 10 cents tx.

when price falls a lot, analysts are coming in to do their market analysis, so as soon as I saw the price drop I went to see the news channels related to bitcoin to see the pessimistic analyzes that always do when the price drops a lot and see what I found:

DataDash Analyst Gives Brief Market Outlook (https://bitcoinexchangeguide.com/bitcoin-price-dumps-to-6999-btc-usd-crypto-analyst-forecast-on-btc-ethereum-and-litecoin/)


 ;D

I'm not surprised to be honest, it's normal to happen after a big pump then a dump will happen, it's like a correction on the crypto market.

Luckly i already sold my ethereums yesterday before the crash happened. In my opinion it will go up again, so i'm ready to buy back later.

It is true it is not surprising anymore only the newbie's would be surprised by this,
But if you have been trading for a long time it wouldn't be new to you or even if you have been around since 2017 this kind of thing wouldn't be new.
Remember back then the price was being pump for whole year then the next year it face a huge correction that made the market go down again.

We all waiting for a bigger bear movement and here it is. Now the question will be, Can we hold it or pop further down ?  Interesting how it will play out today.

This is the reality of bitcoin and cryptocurrencies. So there's no need to worry as of now, because bitcoin are getting its recovery for that sharp fall. It is going up a bit. You worry if the downward trend continues for longer time, but it's not.

This is only natural for me, as I observe the market almost daily therefore I am very familiar on how the market usually flow. This kind of scenario is only temporary and after you wake up again, you will surely see an opposite of red which is green market.

But to those who are not familiar about the market, I am pretty sure that many of them are in rattle mode on what to do whether to hold or sell their investment. But one thing that I can make sure about the current situation of our market is it will surely continue to increase and this kind of decrease is only natural.

Each and every altcoin in the market is depended over the growth of bitcoin, as the bitcoin so will be the altcoins other than few exceptions. Based on the same now the market has been experiencing a crash. We don't know to which extend this trend will continue marking the correction. Until then users need to be prepared to bear it.

Hey, no one was complaining when Bitcoin jumped 10% multiple times in a row, right? Eight weeks in a row, upending the most optimistic estimations, and no one was lifting any eyebrows.

Wildfire? Compared to today, that was nothing. But anyway, enjoy these prices gentlemen. Once Bitcoin goes 10k, whether it's this year or next, you'll miss these times. I know I will.

I agree. When BTC surges in value, people ask whether $10K is next or $100K or maybe even a million. When BTC falls in value, people go crazy and think that the crypto market is dead or the bear market is here etc.

This is basically a way of life owing to the extreme volatility of this market and I have gotten used to these things with time.

We are expecting too much out of bitcoin which makes us feel disappointed with the sudden changes. We should all know that Bitcoin is volatile and we're not in control of it. We should know how to deal with the ups and downs of the market. It could crash or increase depending on the supply and demand of the market.

I wonder why some people are complaining over the simple crash when they have already experienced the bottom before.
This value is already a good price compared to a year of facing the bear market last year. It's something that we should be grateful for instead of panicking

We all are in control of the price of Bitcoin, the price chart is proof of it. Also, as I said on the other thread, Bitcoin is volatile and we are all aware of it. Other investors sold some of their BTCs and corrections are been made. I don't really make anything out of the sudden changes, Bitcoin is volatile, we should all be aware of the possible price of BTC in the near future.

after touching $ 8K now it fell to $ 7K, I did not monitor exactly when it happened, but when I saw the last price I was really shocked. I have been very optimistic about the price over the past few weeks that have surged on BTC and alt. but now almost all coins burned down. I am sure this just for a moment, then I will bounce back.

Bitcoin down... Red Spreading... Wildfire...

Good - Good - Good.
I don't have enough Bitcoin to be filthy rich if it rises, and I'm not a bum enough to be destitute if it crashes.

All looks good in the hood to me. I'm not ready for a pump.
Actually, I was anticipating a longer bear market. It's easier to accumulate when prices are lower.

For me it is not a problem, although there are some investors who want to get profit now but the blockchain development is still running. This bull run will not stop until it reach higher level, I am sure about it. I want to convert all token that I have to bitcoin in order to take a little part of the increasing of bitcoin price, I just want to find the correct time to do it.

Well there is no correct time since the market is highly volatile no one can tell when is the right time as you can see in the past few days the entire cryptocurrency market have been on a steady bull run which is an indication that we may see more bull movement in time to come. But the market today is not at it best stage.

I think the market has not really gone into the up trend, we have seen an abnormal price of pumping. I don't think the market is falling is a correction. I think we are still in the down trend right now, an expectation that will soon be extinguished. welcome to bear market.

I remember the day when BTC was around $1200 and suddenly it fell to $760 in Jan 2017, people were panic but they kept invested and it touched $19000+ before the bear trend. I see this price decrease as correction before it goes to moon. BTC is positive bull trend so such correction are the part of the game. Once BTC will acquire momentum potential altcoins will also start inceasing. I see this level as the right opportunity to buy more BTC.

We already know how volatile the market is, it is already given and can happen anytime at any point of time, it's not really surprising, only newbies get surprised by this events, but everybody need not worry, there will be another rally and it will eventually come.

It did, the only reason it dumped is that there are corrections on the market and that is normal. We all know how volatile Bitcoin, not only Bitcoin but also other altcoins in the market. Sudden changes can happen since we all know, as I said, it is a volatile crypto currency and we should be able to adapt with the sudden changes because it might create a negative effect on us.

For people who witness that surely they are also trying to accumulate more coins now, knowing that the cycle is showing big potentials that this
slow back down will go back to a much stronger uptrend we will soon to see the next  bull to bring everything up.

Many bitcoin hodlers and traders can be expecting this to happen fast and soon despite the correction that the market is undergoing right now. As what I learned in the history of bitcoin, correction can always happen and this is actually good as it can give others the time to get in with the bandwagon and have a good ride. We are spewing very positive predictions here, of course, even if we know that bitcoin can act unpredictably even if the market says otherwise. Anyway, it is always good to be positive otherwise there is no reason to be here supporting bitcoin on its bull run march.

Be patient for a while and let see what will happen in the next week.
I think we already see this is happening before and even we see this many times in the last year but bitcoin still strong until now.
The red candle will replace with the green candle, and that means, we will make another profit again after we see the down of the price.
Make sure you can buy more bitcoin so you can be ready to sell bitcoin at a high price later.

The red market situation is part of the cryptocurrency market place and because cryptocurrencies are highly volatile we should expect a situation like this to happen at any point in time. It is part of the cryptocurrency life circle

To be honest it is quite expected mate. If we look throughout the history of bitcoin we can analyse that every bullish trend had faced some minor corrections at some point of time.
It is like every spike has a minor decline. Bitcoin's price had increased from $3000 to $8200 and it had to face some correction.
I wouldn't be surprised if the price go back to $6000 as bitcoin has faced such corrections. What matters is that it has to recover the correction and only then it can bounce back harder.

I was shocked myself to discover the new price drop on coin market cap it was massive the would raise the fear of a bearish market return just after the celebration of the coming of the bull market

Exactly, sooner or later we will hit a wall that is hard to breach, so obviously those psychological barriers are hard to overcome and investors will likely to sell, just like we witnessed then the price falls so quick that others panic and push the sell button.

But for those who have seen this or at least knows what's coming, they are still calm as a cucumber because this kind of pullback is healthy, meaning after this correction, the price will go as high as the previous price or even more.

Based on your subject, RED is usual whenever there is a sudden surge in the price of  cryptocurrency, so, nothing to be afraid of. RED is inevitable in the world of cryptocurrency as we have had in 2018 which in my little knowledge was a depressed year for cryptocurrency investors. The wildfire will not last longer, and the GREEN wildfire will surface again  :D .

The crypto-world is full of shock of all kinds, but personally, i wouldn't get shocked, if i was in your shoe becasue, the nature of Bitcoin (Cryptocurrency) is volatility. The dropped in the price of Bitcoin was due to whales manipulation on the market, at this time they succeeded, but the price will bounce back and we will experience another ATH.   

Feels like it can correct even more before pumping up again. But I think we are done for now so up we go🤗

The green is getting a bit back again at the moment but we have to see if it will hold, if so a rise could be expected again for sure.

I guess today was the dip, and the smart investors have accumulated already, and it looks like we will be starting a pump again.
Maybe we just got surprise of the huge dump because we were thinking price will still rise higher until it will reach $10,000 we were wrong.
The price is due for a correction and it happen at the right time.

yes right, correction is part of the market when prices rise or fall, each growth must have a correction without correction that bitcoin will not reach its high point. When correction, we can make a signal to do OP before continuing its growth. And I think now is the time to do OP in support areas.

I believe that this is only proving how healthy our market is,and some corrections happens as normal situation in this profiteering
And as we see,bitcoin strongly hold at above $7,000 so it wasn’t a big effect because the bull run starts at $3,500 and now we’re at more than double of the value
If this correction ends for sure Op is right that we will be seeing the $10,000 by the end of Quarter 2

This wild redfire could be considered as the start of a major thing coming up. Anytime bitcoin or any other coin reaches top there is at least some minor dumps experienced where a lot of big whales start buying the coins. These kind of dips are usually common before the high pump coming up so I do not think major number of peoples would mark the price fall as fatal. Instead even though falling 10%, bitcoins are up as the price for them weeks before was struggling to cross $5000 which now is above $7000 which itself is a great achievement. The price for bitcoins may cross $10,000 which would be my first target followed by second and third targets.

I think everyone should be told first. Bitcoin has a great impact on the market. And if you have a move at the price of Bitcoin it is not safe to ever have a altcoin.

We know that prices will not continue to rise in the long run, unless bullish has occurred. but in fact it hasn't, so you have to be prepared with a correction and a falling price. quite surprising because the price dropped by more than $1k in 1 night and it made the whole market bleed, but I see the price back up slowly, do you guys think this is a chance to buy?

Today is green. Everything can happen on weekends, But I think we will not go below a lot more. Maybe it could touch 6k again and go back. And I think alts will start to correct against Bitcoin. Maybe for a 54%, 53% of dominance. There is more FOME on altcoins marketing them on Bitcoin right now.

Volatility of cryptocurrency shows when the market moves like this,this is the proof that we have the active market and the health of trading activities here
We have seen many of this movements from the past and even in the present so what more can we expect?the important thing about the market is the proof that this can grow higher and can be fall bigger,but for now let’s just focus on what the value and how this can help us

The dips are market correction after the crazy ride in last couple of days.It seem only bitcoin was having the bulls until the pull backs and altcoins had some time to pick some gains. The ride will return soon, trade volume is still very high

That is the reality in crypto market. Volatility is always present. Investors are convinced to invest in crypto because of volatility. It gives more profit than with an stable value of bitcoin and other coins in crypto world. That is the significance of cryptocurrency for everyone who believed and invest on it.

This will just happen in a short period of time,price correction is just for a moment and we will experience green market soon.Bitcoin will jump up to $9000 next green trend and thats for sure.This is how crypto market work green then red train and then shoot up again volatility at its finest

Yes,we dont need to expect too much because the market is totally unpredictable but if there‘s a suffering in the market there are always convenience too.

I think having a green in this past few months is already a good sign that bitcoin can increase its price. If the market continues to go red, then I think I'll go back in looking for opportunities to make investments and wait for another bull run. But I still think that a bull run will still come this year.

It would be better if people stop comparing the prices in short run. The price was around like $3,800 USD just the last week or so. And look at the price now. It is still above $7,300. We are still in the green side of the market. Yeah, we did reach the $8,000 point, but we couldn't hold it for long.  This does not mean that the market has now started to bleed. Have you not learned anything from the past few years?

Were you really expecting the price to just rise with no dips?  This is normal market behavior for crypto.  Now the real question is how low will we go again? Perhaps bitcoin can go under $6,000 again so I would average in your buy ins and don't go all in at a particular price.

It was just an usual correction for a bull run.
It will go stable in a day and prepare for next bull run, buy some before it's too late :D

Correction over another, this situations is a cycle where gainers are indeed cashing out and new investors will find this as an opportunity to
place their investment, we have to be more positive and collect every possibilities to ride with the momentum.

The red zone will not continue to flush, only correction while there are people who sell and take profits. Hopefully this won't continue and I'm sure the green zone will be seen in a few hours.

Market has moved till 7400$ recovered from 7100 so this is a good sign that it is not just falling but also can bounce back from it . Yes it has fallen but does not mean it will not rise again and thus I feel good time to buy again as it will rise again .

Do not worry so much about the current fall in Bitcoin prices. It is very good that he periodically leaves for the correction of his price. This is usually evidence that he is able to continue to grow further. I would worry more if now Bitcoin would constantly grow in price very strongly. In this case, he is necessarily very low and would fall for a long time. And now the situation, on the contrary, is conducive to good price growth.

Most are saying this is a healthy dip because it rose a huge amount in a short amount of time. What was it $1000 in less then a 48 hour period?
That is not organic growth of anything to increase by this much and be sustainable for an extended amount of time.
Let the correction happen and if it will bounce back like it usually does then let it and we will see it reach higher then what it was three days ago at $8350.

Don't worry too much. In my opinion, this is only a price adjustment of Bitcoin, and may be the re-testing the bottom support so that it can grow in a stable and safer way for investors. In fact, the price of bitcoin is below $6k3 on that day, but it is only a flash sell of BitMEX exchange, so the price to recover gradually is dependent on the time.

Well unfortunately for me am one of the few stuck in the dumping market.. I have gotten used to the ups and downs associated with the volatility of crypto and I advice anyone with interest in crypto to do likewise ...I have a guy feeling we will cross 10k per bitcoin before October

The panic is on, and they are acting like the market can no longer recover. This is just a normal correction, its good because its cheap again before it finally reaches the top. Yes, let the market bounce back and those who are on panic will just regret it, i just can’t see why they still act like this when the market are more volatile last year.

It's not a dumping market. Corrections are a part of the rises and I expected it since 6000. When it was getting close I sold some of my bitcoins thinking the previous support will be a heavy resistance like many analysts were predicting but it didn't happen so when we went through I expected a correction at 6500 but it still did not happen.

Bitcoin exceeded all my expectations this month and even if we go back to 6000 it will still be a great bullish move that can take us to 10 thousand later this year.

There's fhis local saying in my country that- when the elephant falls down, any animal can pkay around with it. Fact is that, we're seeing this kind of analysis due to the falling prices other than that there's no way that so-called "single" transaction could've brought down everything we did to bring the price uo to $8K+. Ah well, may be we needed to take a break lol.

The market performance is just a normal trading trend for me. Nothing so important is happening. Though we experienced a big dump for bitcoin, yet it is recovering fast. A trader should strategize his moves on how to optimize his potential of gaining profit.

Not a new thing yet we have seen on how this crypto do moves out when it comes to volatility.We do enjoy seeing price increase and it can turn tables
in a matter of few seconds or minutes possibly which do came from happy to panic mood.When it comes to price trend its no surprising that BTC would
always be the leader which if it do decrease the most of alts will decrease too not actually a surprising event.

As op said and your volality is a two edge of sword so lets the games monitor for where they goes either up stay at 8,000$ or can get the last all time hig way back 2017 history, because we all should knows how bitcoin fast moing because of volality good luck for this games hoping they can reach 10,000& up before end of this year.

If it breaks the 7000 dollars support level, downtrend will be followed. But as of now, it seems like bitcoin never touch the floor. It traps by support and stable at 7300 dollars. I do not know when it could happen but I think it will move upward 8k dollars. Hopefully, it happens after I buy the bitcoin. I want to fill it in 7100 because it may goes up in the next few days.

I was expected some grow for bitcoin, not so much, but when i see that bitcoin price grow i also expected the altcoins to grow but this not happen, and also now looks like a game, bitcoin goes up and again bitcoin going down and again up, maybe the bull run will start later.

Please no, we are already suffering from the bearish market for such a long time stopping at $7k is enough already since it has a chance to recover again because of the bullish trend. Luckily Bitcoin rose quickly in just a short amount of time this day from $7200 to $8000. Imagine how it quickly recovers today despite the fact that most people are now worried that it might be another bull trap again but guess what it isn't.

We are going to see some growth, major altcoins are already rising, the rest will follow for sure.
The market is following a trend, based on what I see in the past, when bitcoin pump, altcoins will not directly pump, it will take awhile then they will follow.

Look at the major altcoins, BNB, BCH, XRP, and ETH, they have experience a significant increase already.
They just stopped a bit due to the correction, but they are going to rise again, I am seeing a green market now, that is including alts.

Look how much is the bitcoin now. I hope you bought some as the bitcoin is going up again and yes, it already touched the $8k-mark again. Red in the market is just a normal scenario, and then going green again. No big deal. If you are an old timer, this scenario is not new and you will encounter it many times.

Adoption is increasing, shops are accepting crypto, so there is no miracle in this growth.

I agree, it seems that some investors want the price of bitcoin to go up without any interruption and that is not possible but even right now the overall trajectory of the market is still up, however it seems the bears have finally found enough strength to stop the rally for the moment, whether they will be successful or not should not really be an issue for professional traders, anyone that invested in bitcoin some months ago doubled their money very easily and if the rally stops they can just cash out and enjoy their profits.

If the market continue to surge with any season of dump in price then that not a good thing for the possibility for the market is experience a huge correction is sure. However, the recent interruption as you said was played by the whales and I guess we see a bad guy turn good been played.

Because market symbol change from green to red do not mean that the condition of the market is bad as this is just in relationship to what happened in the past and not future. Maybe we should study more on how this market has behaved in the past as this is going to help us have indept knowledge on the market.