Bitcoin Forum

Bitcoin Price Crashes $800 in Minutes as Bears Eye $9K Support Next https://cointelegraph.com/news/bitcoin-price-crashes-800-in-minutes-as-bears-eye-9k-support-next

A drop of less than 10% is not unusual and not worthy for news.
The only problem is that it's a correction after a correction, since we were at 13800 about one month ago and were dreaming nice again...

I'd say it's just a correction. We need to wait and we'll get our 20k soon.

Cointelegraph is hyping again. BTC's not so bad, just a volatile market.

Get in while we still can see it under $10,000. The recovery will be quick just like what we always used to see, it's bitcoin and it always recover which is a usual characteristic of it.

Crypto media like cointelegraph is helping to pull the price down. And if the price rise quickly, they'll also put it on the news so it's nothing new to us who has been riding this roller coaster ride.

This is not the first time the price of Bitcoin has dropped. That is the nature of a decentralized financial system where the market price is determined by  demand and supply.  This article of cointelegraph is just bullshit and just to create FUDs in the Bitcoin ecosystem.

$800 is not a crash for bitcoin, man you have to see the history price of bitcoin and you will know that this kind of drop is very normal with bitcoin. The price may go down again but its not a big crash, its a big price manipulation and its hard to stop that, if you see the future drop then ready your money to buy bitcoin.

Am even seeing some kind of manipulation there as the price suppose to be down more than that by now but the whales are pushing it back up to prevent the lost which is not healthy for the community ,

Base on the chart we still have to test $8700 but it is doing a round base with lots of hands on it so I still kind of expect more dump .

For most of the time , Bitcoin was static at 10k$ and unfortunately when people are not able to make any sense of the market they decide to cash out.
It it would have been bears , we could have seen a massive dump hitting the price at 7-6k .
I think this is actually individual investors , just encashing out , since price is decreasing many will wait and at the end but the bitcoins when it's low , thus making profits.
This is just how it is supposed to function.

The crypto market is very volatile and it is very difficult to predict the price increase and also the price decrease in every currencies especially in bitcoin.

Though 800$ crash in just a minutes is only normal on how the crypto market works, so it's better that we can adapt it's volatility and make it our advantage in order to gain some profit instead of worrying too much.

you can not call it a "crash" when price is still in the same range that it has been for more than a week. a "Crash" is only if price went below $9k and reached something like $7500 then you could start a topic and call it that. otherwise this is just the continuation of the same sideways action that we have been seeing ever since we hit the $13k top and it won't end for some more time as long as this accumulation phase is ongoing.

BTC price goes up and down due to supply and demand. The price of bitcoin is falling a bit because demand is dropping, it does not mean bitcoin is "crashing". No need for alarmist thread titles like this......

Well it seems like there are some whales who want bitcoin to go down. But it is true, the movement of the price of bitcoin is still quite normal and this is not a crash. Next, I see a new support line in the area of $8800- $9100, please prepare your money to buy it.

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

The price of bitcoin may goes down below $9.000 but I guess that is just temporaly and in the long term the price of bitcoin will be up again IMO. The bart pattern has been happening to the movement price of bitcoin in a few days ago, as you may know the price of bitcoin has increased quickly and was traded in sideaway and now the price has been decreasing. This is pointed out the buyer didn't have a strength enough to continue the trend. But that is a prediction based on the chart, I don't know what will happen next because the fundamental factor can change everything to the market situation.

That's sad, but at least for awhile because I realize it's not new in crypto, if it can pump over $1,000 in minutes, pretty sure it could also dump instantly.
Look at this opportunity again, bitcoin dump doesn't mean we need to panic, I guess what we do instead is to just buy more and keep calm.

Yes, as what you said, we need to stay calm to see bitcoin price is up and down, no need to panic. Bitcoin will rise again, and if bitcoin is down, we need to prepare our money to buy bitcoin because that will be a good time to buy more bitcoin. This day, we see bitcoin is trying to increase, but it still hard for the price to go to the higher price.

the thing is, its not a crash of $800. its a crash of $4000 and most likely going lower.

Yeah, I saw it.
$800 though is not that large if you think about the growth that happen for the last month. Thousands of dollars in increase and it even hit a 5 digit marker again.
I guess we should not worry about it.
More like the price is being put in the right line.
That increase is quite a shocking event and I didnt expect it and so does many users and holders.

That's what I read all the time after a dump. People always blame whales for dumps because they think whales are looking to accumulate more coins. Also, whales aren't just one group of equal minded traders. Just like there are whales dumping below $10,000, there are whales trying to keep the price above the $10,000 level.

It's just the momentum that has shifted to the bearish side. There is less volume and thus less potential to the up side. Don't forget that people trade the chart, and not Bitcoin's fundamentals, and the charts aren't particularly favoring the bulls. Every rational trader/investor knows the importance of adjusting your game plan, which is something people here have problems with.

first of all welcome to the bitcoin market.
hang around and watch the charts a little instead of reading shitty news sites and their misleading articles that they publish only for the traffic they can get through them.

as for the "crash", as it was mentioned it was not a crash, it was a small drop. i just want to add that when it comes to price of anything you shouldn't look at the raw numbers, you should see the relative size or in other words the percentage.
for example if price of something drops $10 it can be huge if the initial price was $20 because it is 50% drop but it can be tiny if the initial price was $1000 because that would make it 1%
so in case of bitcoin, this drop that you are calling crash was in fact a little bigger than 5% which is normal in a volatile market such as bitcoin.

Well j actually anticipated a drop below $9k when Bitcoin was almost at the $14k mark. It's unlikely it would drop below that in the coming weeks however, $9100, give or take. And them maybe an upward surge which could see us hit $15k.

The media would always look for news in any event. This is not technically a crash in the price. It's an unlikely drop however, especially as volatility has reduced significantly in the past months.

Agree, I'm not at all surprised by the price drop, basically the price changes fluctuate so you have to get used to it. correction seems to still occur so the price is not strong enough to go back up, the worst possibility is the price falls below $9k, preparing to buy at that price range and you will profit in the next few days.

I always roll my eyes at the mention of "support levels" because I've seen so many stocks drop right through them after some technical analyst speaks of such things.  In any case, this is the truth:

Dropping $900 in whatever the time frame was is sort of normal for bitcoin--if you've been looking at the price long enough, you'd have seen swings which were much more dramatic than that.  10% in either direction isn't nothing, but it certainly isn't a crash by any means.

And hey, bitcoin is holding steady at $9500 right now.  It's a lot better than where it was in 2018 and most of this year, so keep that in mind.

But, like 99% of crypto related news sites, Cointelegraph needs the clickbait headlines, especially during a downtrend or a phase with slow price movements, "Bitcoin" and "crash" are the perfect recipe to get thousands of clicks.

Seriously though, what a shit website, they've been posting FUD for weeks and now this. If the price were to go back up to $800, you just know they'll write something like "Bitcoin recovers" or "Bitcoin goes up", rather than "Bitcoin sees explosive surge in price as bulls trigger new rally".

I hope that this month the price of bitcoin can be priced at the price of last March around $ 4000,
Now, to enter October 2019, it can reach my $ 20,000 expectation.
For me not surprised to see the price of Bitcoin down now, changes in prices in the world of cryptocurrency are arguably sensitive.

Big crash in a very short time period, and this made the market trend to change. The price seems to gain support around $9500, if not the price could've continued falling low. As there is minor fluctuation around the support level we can expect some good growth over the days.

There isn't anything specific or negative about cryptocurrency have taken place over the past week for such an immediate crash in the price. This is purely a play by the whales who just use it for their profiting.

The bear is in control but it is not going to last long. The next bull takeover is very close and we might start to see that from the beginning of next month. Therefore, it is very important you start to hold and if you have funds began to buy back now as bitcoin is now in the sideways trend and might resume bullish trend soonest.

Let's try to understand how Bitcoin inculcate the best momentum build up, before trying to initiate further moves prior reaching on that profitable value. Price crashes is can be disappointing, but we should be patient despite of our emotional responses in order to sustain longer.

Even if there was bad news about Bitcoin like some countries decided to ban Bitcoin I wouldn't be worred either because the price mostly recovers after few months.

I don't think this was a big crash tbh it's more of a dip or correction because few weeks ago when it was at $12,000 the same thing happened right after.

Guys, I truly think some of you missed some points.

1) We already know the market is volatile, we're not born yesterday but since weeks/months it has been more volatile than usual (by 'usual' I mean compared to what we got the previous months). The volatility we have right now is similar to Q4 2017.

2) Its value reached $13k, then dropped to $10k, (and now barely hold it btw).
If you think currently, 10% is nothing at all, we'll see what you'll say when its value will drop to $8,500... because right now it's very likely to happen...

It reminds me every time Bitcoin starts losing, people always say not to worry. When the price went from $20,000 to $10k they were no longer there to say don't worry.




When there is a 30% drop in the value it isn't a correction any more, it's a crash (15-20% ok but no more). And before to say it's a correction you need to wait at least a week to judge if it is or not.

The funny thing about "manipulation" is we can always fit it to our biases. Bulls see whales dumping into thin order books and cry manipulation. Bears see whales buying into those dumps, propping the market up, and they cry manipulation. In the end, it's just accumulation or distribution.

Volume-wise, someone has been heavily accumulating these dumps into the $9,000s. They might succeed in propping the market up. Or they might fail and their capitulation will fill our bids in the $8,000s.

Just wait and see, and don't worry about manipulation.

8500 is still a bull market. We confirmed a turn from bear to bull by breaking 6000 dollars and when we did people were so happy and saying that they finally can think of spending their coins again because below 5000 dollars the price was really bad for that.

This dump reminds me of those small dumps before another big rally like in Spring 2013 before the December rally. Even if we fall to 8000 it's all fine for me. I've been to 4k and threatened by a correction to 1k. There's no fear in me anymore.

keep a couple things in mind:

support/resistance levels work, but not all the time. nothing works 100% of the time. TA is about applying probability (eg the likelihood that a support level will provide a strong bounce) and then reacting to what the market does.

and many analysts just don't know what they're doing. some just draw meaningless lines and expect them to affect the market. that's shitty application of TA, not so much proof of anything else.

It's not a big crash for those who invest or trade with caution, but those who go all in or use high leverage consider every drop a big crash because it ate a significant chunk of their paper value.

With the rise of too easy to access platforms such as BitMEX even noobs have started to jump on the leverage bandwagon with how trading spot has become too boring for them.

People severely underestimate the nature of these platforms where some of them even think of them as a cool place to make some profits for fun. People end up paying a hefty price for their ignorance....

Lol, what crash? It looks like you haven't been in the market too long and seen more flash crashes. $800? this is nothing to bitcoin ecosystem. So I will advise you to get back at bitcoin historical logs and see the price fluctuating like 4 digits in minutes. But the thing is that this is to be expected, we can't sustained that momentum for so long, ($3200-$13800) so eventually we will find a fair price in the middle so that is around $9500-$10k.

"Manipulators" and "whales" are just the boogeymen of Bitcoin market, people throw these words around easily, but no one presents real proofs of manipualtion, like leaked chat logs, links between wealthy traders and some media or other influencers. People just can't admit that Bitcoin is very volatile, they always want to blame it on someone to feel better about their loses.

It's because these whales doesn't have a face, but instead used some crypto brokers to make the trade with them. However, I do believed that this so called crash is for short term only, I doubt that we can go as low as $8500-$9k, I'm expecting $10k++ at the end of week, as we have reached or approaching a golden cross which is a indication that which is a very bullish signal to me.

Golden Cross is a pure indication of bull market. With this we can expect the price to recover above along side of the market fluctuations. The recovery has been taking place as a result of good support gain over the $9500 margin, if this hasn't took place then the price could have gone much low less than $7000. This trend will continue until there happens some manipulation from the whales.

that is one way of looking at the market but another way which i think is the correct way is to see it rise from $3000 to $13000 and then fall to $10000. that puts things in a much better perspective compared to only focusing on the drop part.
i personally don't consider anything above $10k to be worrying. $9.6k is a little worrying but since it has been holding nicely i still wouldn't call it a crash. but if we go below $9k and stay there then i would start to worry and call it a downtrend.

What time frame? A golden cross usually refers to a 50/200 cross. We already had a golden cross on the daily chart back in April and it never crossed bearish again. We're not even close on the weekly.

Sounds like people are still hopeful. Too hopeful.....

I see your point. It could be an argument to consider indeed. But unless someone explains to me why the value started to rise suddenly, with no signal, and on April 1 on the top of that. We didn't see anything coming, we even thought we were going to get lower than the $3,000.
I can't find a rational answer. Bitcoin has been 'lucky' nothing more

Generally that is not any surprising incident for them who does know about Bitcoin market long. Currently it can be noticed that Bitcoin price is increasing and expected that it will recover its price soon. Moreover it can be said that if this incident will happen hundred times more, then there is no matter of surprising

when we see a $ 800 drop in 15 minutes, we realize that the crypto market is still an extremely dangerous market, having a $ 800 drop in 15 minutes is not something we should look at and say "this is normal" because honestly? it's not normal. Is something very dangerous. Imagine if one day someone have $ 30,000 and that person think, "I need to invest in something safe" and then that person looks at gold and bitcoin, and finds that bitcoin has dropped $ 800 in 15 minutes, will be that person would take his $ 30,000 to invest in bitcoin? I doubt!

It is always an opportunity to enter when ever the price goes down and there is nothing wrong in collecting the coins at this price if you have a long term target and you are expecting a much bigger price in bitcoin, i will not invest in bitcoin at this price as i have already invested when the price was well below these valuation and i am happy with the amount of coins i have, for those who are looking to collect the coins it is always good to enter when ever there is a correction.