Bitcoin Forum

Bitcoin price falls nearly -11.76% in a matter of hours

What do you think, will it recover?

The same story happened 2 weeks ago: Bitcoin has reached some 13800$, then dropped sharply to 10300$, then slower to 9700$.
Now it touched 13200$ and it's falling.

I am not scared, at least not yet. For many traders a 10-20% gain is already wonderful and they are cashing in then maybe repeat. I think that something like that happens for now.
If it'll fall again under 10000$ I may not like it though...

Well, this can be a possible explanation for the sudden drop in the price, because I am not seeing any major news that might have triggered this $2k drop in the price. This must be a nightmare scenario for newbie Bitcoin traders, if a commodity lose almost $2k value in less than 24 hours, but we are used to it by now.  ::)

We have hoarded through must worst scenarios in the past, with a 80%+ drop in the price since 2017. The volatility sucks, but we are in this for the long haul.  ;D

because the market is trying to break another strong resistance that is currently located at $13200 and each time it builds up momentum, rises to that level tries to break it and when it doesn't happen the  drop comes.
price is no "falling" exactly, it is fluctuating up and down inside a tight channel between $10k and $13k each time this channel gets tighter too as previous time we went as low as $9800 and this time only as low as $11,100

I've seen this in 2017, I guess it's happening again.
Quite a number of trading sites offer rewards for bringing new users. And probably some websites have again wonderful stories for their ref links, luring newbies with stories that Bitcoin started rising and it'll go sky high without stop.
Newbies go trading, because nothing wrong can happen, right? Then this. Dang!

It is possible that large speculators began to take profits. This could cause a wave of liquidation positions small speculnt. But this is one of the assumptions. In fact, there can be many reasons and it is quite possible that this may be a complex of different factors. Do not pay much attention to intraday falls. It is better to pay attention to the situation as a whole. While the market is bullish, and the data falls can be seen as an opportunity to enter the market at a lower price.

Bitcoin raised a lot during last couple of weeks,  so what's happening now is nothing but a normal correction.

People short their Btc for quick profits,  then price will take its ascendant trend.

Of course it will recover just like the old days we are entering into more corrections after the pump. This is another drop after reaching $13k yesterday which is still a good price to buy more bitcoin. Quick profits with the panic sellers really hurt the market as usual, if the price stabilize again it will continue the uptrend. We are getting closer to the last period of 2019, I hope to see more pump compare to dump, let's encourage people not to take profit on early pump.

you shouldn't try so hard to look for reasons for bitcoin price rise and falls each time they happen as long as they are 1) not so big, like if the rise or fall was less than 10% or 2) they are not taking the price outside of a certain range that is defined by the support level and resistance levels.
for example in this case as long as we are not going in the $10k range or below, there is not so much reason needed for that kind of movement and there is nothing to worry about. similarly as long as price doesn't go above $13k and stays there, there is again not so much to talk about the rise.

these are normal market movement as day traders take profit in their short term actions.

That is nothing.

There are a lot of dumps or drops in the past and we are still here. We don't need to make any assumptions whether it will dump or pump, it is obvious that it has 2 movements, either go up or down. Bitcoin is a volatile cryptocurrency so, it will really move a lot for a short period of time. For now, let's just wait again for some time, surely it will go back to that price.

It's just because of some traders that always quick selling after the progress of bitcoin.  But its nothing because bitcoin nowadays is so volatile which always make a correction afterwards. So if you have an investment on it just be patient. Because on this year bitcoin will make a big progress despite of this fluctuations IMO..  check the history or the graph if you have doubts on what I'm saying.

I havent heard any news, its just 13k rejection.in a few days it will test there again.i hope it wont so we can make profit from alts.

Of course there still have a recovery. Price fluctuates overtime and many are manipulating the market which make new investor to panic and good be up their investment easily. Never doubt the coin because not is most potential than the others. Have patience and take more investment on it.

Of course, it will recover. I am not too worry. It seems, bitcoin already makes the correction for the price and now, the price trying to increase again. But we still at a low price than the last higher price and I hope it will be back to the higher price in the next weeks. If you already saw what is happening in a few days ago, bitcoin can increase in a shortly and now I think the situations is almost the same as before. So we have the opportunity to see the bitcoin price will increase.

How can you say that? a double top on the bitcoin chart is an extremely bearish signal.  This means bitcoin will go lower and altcoins will now rally.

bulls were overzealous and over-leveraged long. weak hands got stop run and margin called. life goes on! it dumped a tad harder than i expected, but there's still a good chance this is just a short term shakeout and the market will remain bullish.

there was massive volume when the last low from earlier today was undercut. if we can just get above ~$11.6-11.7k there should be a nice recovery into the $12000s.

Well doesn't we see this happens everytime? The price is fluctuating the whole time and I doesn't see the need to make a new topic everytime the price drops.

If Bitcoin skydive further, I think alts won't stand a chance to go up. Bitcoin must stabilize first in order for alts to grow and skyrocket like in the 2017.

Look at this chart at 1 month (click 1M). Make the chart a line (click line, the 8th symbol above the chart).
https://www.investing.com/indices/investing.com-btc-usd-chart
Have on the chart the Boliger Bands indicator (BB 20,2).

The price is approx 11500 USD/1 bitcoin. The upper band is situated at 2 sigma from the average. In 1 sigma from the average 68% of the events happen. In 2 sigma 95% of the events happen.

The price will go up until it will impinge in the upper band with approx 2.5 sigma distance from the average. Then the price will start to decrease until it will be somewhat higher than the average. Then it will bounce and start to go up (to increase) until it will impinge into the higher band with approx 3 to 3.1 sigma.  

I can be mistaking, and the price go up to approx 500 000 USD

what ever the trend or direction bitcoin may go is not a threat to investors or bitcoin holders, we have seen bitcoin rose from 3300usd to 9000usd within a couple of days, so why cant we ave that believe in bitcoin to reach 20000usd by december 2019? lets have faith and avoid spreading panic.

It was happened several times in this year that bitcoin can be pumped or dumped more than 10% in the same day but according to the previous movement then the price should be can recover back although this is not guarantee will always same moves however buy back might be good as the price still low

The $13k+ price range don't have enough support for now that's why bitcoin keep crashing down or (to use a more appropriate word) retracing below that price range then it get followed by a panic sell from active traders & emotional investors pushing the price further down that's why we're seeing loss of value resulting to two digit percentage indicated by OP.

I don't follow the price movement so can't remember the last time I checked the price of one bitcoin. If most individuals can do the same we'll reduce the rate at which the price falls further after a sudden correction.

If this happens it is quite normal (as you correctly said), you don't need to worry, the lower it goes the more pressure it will build for a recovery. It works both ways, it just went up too fast, it had to correct. You have to look at the long term curve, which should be more or less logarithmic, since the inception of bitcoin until maturity. (ie. 50~100 years). It's been a mere 10 years :)

https://www.mathcurve.com/courbes2d.gb/logarithmic/logarithmiccurve0b.gif

do you know what is selling rate??????

selling rate in some sort of level is when coin get to price which is called at the peak relative to the price that was, and in this peak the selling rate is very high what hurt  the value of any crypto...

if it will stop?

yess soon we can almost anything with crypto and the selling rate will fall drastically because we can by directly with crypto and dont need to convert it and this effect will surge the price to the moon without even de,mand grew

do you know what is selling rate?Huh??

selling rate in some sort of level is when coin get to price which is called at the peak relative to the price that was, and in this peak the selling rate is very high what hurt  the value of any crypto...

if it will stop?

yess soon we can almost anything with crypto and the selling rate will fall drastically because we can by directly with crypto and dont need to convert it and this effect will surge the price to the moon without even de,mand grew

I'd even say that it's great that the price went down! It's a lot better strategically if Bitcoin goes up and then a small correction follows before it takes another step forward. At least, this way Bitcoin is able to move forward in a slow and safe way. If the price does not go down from time to time, there's a great chance it will drop down so much after a fast rise, that we are going to see another bearing year. IMO 10-20% fluctuations with Bitcoin are just something we should get used to. Not to mention how convenient and beneficial they can be for traders.

Correct, otherwise the pressure will build stronger and bounce the other way harder. But of course, some traders will make a fortune :)

The slower the better.

We will see that many times during this bull season - a whale selling 10000 BTC in a single transaction to push the price down by 10-15% and buy lower.

AFAIK usually these pullbacks are caused by

• the usual price corrections
• traders selling more of the coin than the can buy...keeping crypto in the red
• possibly someone trying to manipulate the btc price with their huge stash of coins

But from what I found the recent pullback is being speculated that it was apparently caused US Federal Reserve chairman's remarks and I find it weird we are always out looking for a reason why something happened.

Added snippet and link below for more info about this story
https://www.coindesk.com/bitcoin-price-drops-2k-in-24-hours-but-bull-view-still-intact

Of course bitcoin price fall because it is not stable,bitcoin is volatile, the reason why people like it because they can earn more profit from bitcoins volatility. And i think there is no need to worry about the price drops of bitcoin because it will go up again. The demand and supply are the main factor regarding price movement of bitcoin and other currency.

Bitcoin will always experience price rises and falls, because that's how the ecosystem is. In contrast to FIAT or other stocks that require a long time for fantastic price changes.

Its like old time when bitcoin just hit higher price in a year it will be correction until 20% i guess then usually it will recover but not much, about 10% from low price. In every currency that not always grow up or fall down, always update news regarding currency that you trade on to know why it happen.

While this may be true, it may not entirely or even be part of the reasons why bitcoin is currently falling at the moment.
The impact or effect of whales seems to be one very common excuse for bitcoin drop in price amongst enthusiasts.

But even before we came to know about whales, and that's even if they actually do exist, the coin has always been volatile, one minute it's up and in 24hrs we can experience as high as 10% drop, it's nothing to fidget about.

Just remember to always pull out when you've actually reached your target profit, or else just hodl on.

I am not sure if the price is at the bearish right now although the price is still at the low price, same as yesterday. But if you check on the chart, you will see that the price trying to increase, and I think we will going to see a new higher price in the next week. But if the price is going to go down again, then we will see the price will reach the bottom and then it will bounce again.

Bitcoin is the most powerful coin on this market. Although it fits the criteria between supply and demand, bitcoins are still affected by strong currents. This has a positive impact on the value of bitcoin or vice versa based on volatility to generate profits. We have just passed a moment of decline, but it will start a next strong rally.

today was a day of those where the person looks at the coinmarketcap and sees everything in red


see:

https://i.imgur.com/Fv46xcl.png

if there is a lot of demand then the price will recover and rise a lot, but if there is not much demand then the price will fall. If you are in this market because you intend to hold for years, then this drop should not be a problem for you.


You have made many posts just to promote HST decision token

here are some of your posts that I think epics:

This early logarithmic growth stage may only be part of a larger S-curve. Visually, this is how that would look. The curve you posted is represented inside the red circle:

https://i.imgur.com/FxQvog7.png

In other words, maybe we haven't seen the parabolic/exponential stage of growth yet. When institutions and the masses enter the market in a big way, it could really change the current paradigm we're all charting.

Listen dude,
As you are a newbie i can understand your concern.
So the thing that affects the BTC price is it's trading volume.
More is the volume, more will be the price of the coin.
When the volume comes down, the price will also falls down.
And yes BTC will recover soon, when the market cap will increase.
Hope you understands now.

Its not a proper fall if anything I expect a price rise this weekend, its seems to be that way when main market shuts we are able to rise slightly more easily.    Then sunday night open is a bump back into full trading

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

Here orange line is a rough weekly average.   True we have been under it and falling some but its also returning to this mean and right this moment it seems likely to exceed this - hence strength in price

We all that positive that the market will rise up pretty easy, the market shows strong resistance these days and it will be a big help to make the market pulling up high again in a short period of time. What we are seeing with the price fall is simply an indication that there is a market transaction and we love to see it, right? We used this fluctuation to earn profit and not to worry about.

It does this each weekend since about April, (except the last week). Start to watch on Friday at 7.00 pm, it starts already and continues the whole weekend, and when Sunday comes it does as you said. or Monday morning before 6.am.
Look at right now, we're Friday night and see the market, it's doing it again. I would bet $10 bucks we will see $12k tomorrow before 1.00 pm.

Obviously, this is how market reacted it's maybe because some big whales are dumping some coins. On the other hand, still lots of things that need to consider because there are also day time trader who seems to contribute with it. This is the power of volatility, within to just an hour things really happened unexpectedly.

There is actually behind this falls but we never know what it is. May consider its volatility effect that plays in the market but ain't enough to satisfy our queries. Though we think of any possible reason, we can't even change the course until they do so. Depending on the market stability, we can't expect that it follow what we want to happen, crypto market have their own journey also.

I think these "corrections" will keep happening for a long time. The reason why they happen so quickly is that they are breaking the stop losses plus puts the panic sellers in danger mode as well. So, all you have to do is manage to sell enough bitcoin to drop the price only a bit and when you drop it that bit (mostly people who have bought bitcoin long time ago and have been waiting to sell it to make a profit finally and get rid of it) then the traders sees that and change their perspective on charts and they decide that its time to sell as well, after that happens then it triggers the stop losses and some people sell as well, so after even that the panic sellers fearing that bitcoin will go down even more sell as well.

All these combined makes a super quickly fall for bitcoin, however the good news is, it also makes going back up quicker as well.

Why we should worry when bitcoin show little dump? Why we are not asking questions when bitcoin show bull trend? Actually this is the nature of crypto-currency. Sometimes its going up due to some positive news and sometimes it go down due to negative news. And there is some others reason as well. So we should stay calm during dump session, because its recovering again. This is the play of crypto-currency, otherwise how traders will get profits?

Well it never does what I want or expect but I can at least measure it by its own moves.  It did move to break above like we speculated and then failed!   The failure is what then justifies the greater negativity.

In the words of a good mentor I've followed, from failed moves comes fast moves.    Traders like fast moves, sadly I dont trade on the weekend so much not that I presume I would have acted perfectly tbh, takes alot of discipline and attention.

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

So here is the 1hr bars, it did close up above in the big green bar however the 4hr bar close is what I really want as a proper show.   Waiting 4 hours to confirm anything is a total pain and in this case it was a bad risk, we did not maintain the close above the 8 day average showing us as bearish.   We're playing out that bearish action for this weekend.

4hr bars, it does close above slightly so it wasnt a perfect measure or rule but I guess thats where some finesse is needed.   Main thing I take away is its failure to stay on top, hence alot of traders are taking profits and I guess that shows up
https://i.imgur.com/ori9z84.png



  Right this second 5 minute bars its up but I dont think its going for 12k now, sunday night open we'll observe and I would speculate after that.  Its in the uptrend medium term, someone else pointed out betting against a repeating trend is not clever on average and I have to remember that

right . people only sees the negative effects but they dont count in the positive effects or the benefits that bitcoin/crypto gave to them  . insteading of stressing too much because of the fall , why cant they just use this event to accumulate more coins ?  in that way they can be able to earn more in the future  .

crypto didnt promoise that they will pay every investors  . its our fault if ever cryptos wont recover  .

If you will always look for answer in this kind of question then expect you’ll have this same question time and time again..looking at the graph of bitcoin the price constantly pumping and dumping so what the next step?either you will stay holding or do the selling to stop this kind of confusion about the prices

But if I were you?stop monitoring the market now and just believe that this bullrun will bring us fortune sooner

Its hard to say which path BTC will take in the short term. The funding rate was negative on Bitmex a few hours back, usually this signals the start of a bear market if it happens frequently. And also the OI decreased alot from the top last week.

In my opinion I think you need to watch the weekly charts and judge for yourself if a top was made. Currently it needs to break and close below $9650 to indicate that, but we had a higher high and a higher low, so its looking good.

In 2017, BTC had these severe dips and periods where it chopped around for 4 weeks before making a newer ATH, this might be the same since it hasn't been a month yet since the June 26th peak of $14K.

Bitcoin ROI 7 822,48% , prices rise enougth Compared to other stocks in the world
you must predict more fall and big crash next months and years
Investing in bitcoin is dangerous , The market can fall .. and you have to wait 5 years for the market to return

Heres a quote from 6 months ago.  Thats a proper fall, this isnt.  Its just a reset within a massive price gain and we must watch carefully for a rebound now its trimmed downwards.    There are attempts either way and how well they succeed is how to judge the strength or weakness that is ongoing in the price.


https://i.imgur.com/wnPWAF5.png

5m bars, just an update to the above graph.   It bounced on the left side, rose but then failed to go far.   10k being a more realistic destination for the mood this weekend.   Place and time to watch now is this flat support and the opening into Japan trade hours .

This situation is very disturbing for people who buy BTC because of the current price reduction. This is actually dropping because the price adjustment is dominant. But if we want to confront this big problem, we will not think that it is desperate. Do not be discouraged, you must have patience and be considerate. This autumn is temporary, wait until charging time is over.

I confess I was not expecting a fall in this moment, and I lost the opportunity to sell and rebuy in the dip
I only have the option to hold this moment, but it's ok, we are above 10k for some days, and this is very important

Do not usually expect the BTC price to be high constantly. This usually happens when the price is very high. This cannot be stopped, and the holders will fulfill its role then dump. Prices fall after panic, hopefully $10k is good preparation for another rise.