Bitcoin Forum

Hello,

what do you think after today flash crash of BTC from 12300 to 11600. Will it get back on bull trend and get over 12k again or will it slowly fall back to 10k?

I am really tired of these crashes. It is not first time I went from profit to huge minus just in few minutes. I cant understand how this can happen.

S.

People really call these flash crashes now? How soft have people become. Bitcoin rose from $11,600 to $12,200 and just went back down to $11,770 today, which should still be an increase in the end so far. And you're "tired of these crashes"?

Mate. If you can't handle the price volatility, bitcoin is not for you. Go invest or trade other assets instead.

I admit that it was a steep downfall, probably there's a whale who dump his coins. Nonetheless, I think there's nothing to worry about so chill. Do not stress yourself so much because everything is fine.
"If you can no longer handle the heat then go out in the kitchen" as simple as that. First and foremost you should understand that market is so volatile but if you can't cope then better for you to exit. No offense but crypto investing is not for the ones with the weak heart, it is for the ones who are willing to take risk in order to earn success :).

i think most of these newcomers who call these price changes "flash crash" or "pumps" aren't doing it because of the volatility. they are surprised because the "numbers" are big. otherwise if price went from $22 to $20.91 nobody would have even thought about it. why because 22 is a small number but 12200 is a big one, doesn't matter if the drops are exactly equal in size percentage wise!

this will only get worse the higher the price goes. imagine what they would say when price falls from $122,000 to $116,000. they see the $6000 difference not the 4.9%

Like I was just saying in the previous post, I'm still far from convinced by the new bull run of August. Yeah, normally Tom Lee and gang doing it up gangbang is a good enough sign for me when even Meister Keiser thinks 15k by end of month, I should be worried.

All due respect but there's a lack of volume backing up these jumps, which just suggests good old profiteering at short and sweet intervals. More of this is what we should expect, until we get more serious order depths.

This cant be of a surprise looking back how Bitcoin act on the charts, this will be nothing more then a little bump on the road.
Maybe aim for longer time periods or as stated above Bitcoin isnt for you.

1-3% isn't a flash crash in crypto but rather a normal.market volatility that we experience almost every day. This is a normal occurrence in bitcoin so one shouldn't really expect huge price movements immediately after these things happen.i'm still skeptic of the $15K by the end of August prediction made by Tommy Lee though it's starting to happen day by day. Then again, we know how good Tommy Lee is when it comes to jinxing his own predictions so yeah, it may not happen.

What? you are tired of these crashes? what's the price of bitcoin yesterday and the other day?

That's the game of volatility mate and you must be ready to adapt to the system. What else do you expect from the sudden rise of Bitcoin and some other cryptocurrency? Remember, when there is a rise without volume in the equation, then, be rest assure that the price will crash land without any notice, a lesson for another day.

I don't get why you use the word "crash". Its a simple correction, or even less that that, a little fluctuation. Did you know that would be like 5%?

In economy "crash" is something really catastrophic, not 5% but like 95% value loss. Stop using this word anytime you watch a simple fluctuation downwards.

I am really tired of people like you calling everything "crash".

In my opinion and I guess others may have known this as well, The answer is Volatility, Bitcoin and other Altcoin can change the price without further warning even without any positive of negative news aside, That is why they call it volatile and if you get tired by this kind of sudden changes then you got a weak faith with the bull run now, or maybe you assumption with the Bull run is like the previous bull run on 2017, I guess you can not compare the now and then because that is a different situation in my opinion,

Man, this annoys me a little bit too much. It's the same caliber as the people who says that they "missed the bitcoin train" and are now investing in XRP because they think it will reach the same price as bitcoin. 🤦

LOL.

Did you take a look at how much the price increases these past days?

You are looking only at that minor pullback that happened right now without realizing how much the price grows. The momentum has just ended "slightly" but it doesn't mean the price is on a crash status right now.

I suggest not to look closely at the price and decide for a long term holding instead. It will stress you more the way you are currently reacting to it.

the altcoin market is a whole lot of mess. everyone is blowing in their own horn trying to sell their garbage to the newcomers. and the funny part of it is that all of these altcoins, specially the top ones have lost more than 60% of their value over the past 6 months that bitcoin was rising!

you need to understand this:

This is a market, we have buyers on one side and sellers on the other.

Imagine that I buy 100 BTC for $11600, so soon the price goes up to $12200 and because I bought when the price was $11600 I decide to sell for $12200 and the price drops back to $11700... You don't have to be sad about it or disappointed about it... because that's how the market works.

Lol, I don't see this as flash crash.  If you look back at Bitcoin history there are lots of cases more severe than this.  This is just a normal phenomenon to Bitcoin  market.  And if you are tired of these crashes, there are options you can do, either sold your BTC and forget about it or hodl your BTC and don't look at the Bitcoin price for a  year or two.  That way, you won't be stressed on the volatility of Bitcoin.

Dont know why people calling these movements as flash crashes.Dropping from few dollars or even a thousand is just like a typical movement on cryptospace.
Theres nothing we should be shocked on because this is how Bitcoin too volatile.It can swing up on a short span of time from dump to rising or on reverse thing too.
If we've been here for a while then these things is just like an ordinary day and this is the perfect recipe on making out some profits.

I wouldn't call it a flash crash, just a pullback after hitting a resistance level.

This could be a potential reversal happening if bears can hold prices below this trend line and give us another dump candle. This is right where xxxx123abcxxxx was expecting a potential inflection point: (https://bitcointalk.org/index.php?topic=5128394.msg52074134#msg52074134)

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

Are you serious? The price was around $ 9,000 a few days ago and now more than $ 11,700. The price was about $ 2000 several months ago and about $ 19,000 a year and a half ago and less than $ 100 8 years ago.
BTC is not a currency for short speculation, it will end up losing your money, you have to wait longer.
If you do not believe in this technology, it is better to be satisfied with the 16% provided by banks annually.

I like these pullbacks they allow the bitcoin price to increase keeping out all the FOMO.
Once we hit 25k let the FOMO come so we can ride it and dump on them at 50k-60k.  8)

hardly even a pullback on the daily chart yet. 7 big green candles followed by one doji. with 5 hours left to the day, bulls might even close this candle green too.

i'm pretty amazed at the lack of real dips---no 50% or 62% retraces, just bull flagging the whole way up on a $3000 move. that dump this morning was only a 23% retrace.

we could go down to the low $10000s and it would still be "normal" for an uptrend.

Are you aren't happy that BTC breaks $10,000 level again? Do you really take the $12,300 to $11,600 as a big deal?

I wonder where are you these past weeks.

If you are not planning to sell your coins at least for now then relax somewhere else and take a vacation. Don't take watching price monitoring too much as it may affect your ability to think properly. Your funds are at stake if you get panic.

I find it hilarious when people are quietely enjoying the run up and even consider it a normal event, while if the price is going down because traders are cashing out profits (which is perfectly normal after a significant increase), people go nuts and think it's manipulation and whatnot.  ::)

I would be worried if we go up in a straight line without these minor down movements. The more people unload at these levels the higher the price floor becomes, at least in the short term. Don't forget that for every seller there is a buyer.

OP probably had his 1-5 minute chart open and saw a massive red candle, which might have given him the impression that there was a flash crash. Working with 30-60 minute charts is a better option moving forward and much fewer 'flash crashes'.  :P

The recent 'crash' wasn't even that bad as long as you weren't FOMOing into a long while things were going up- things dropped right back down to where they were before at the $11.7K range, and we've had another little dump today down to $11.2K that was a perfect spot to enter into a long or add to any longs you may already have. Not too shabby for BTC, and as others here have said, that's just one red daily candle after seven consecutive green candles up from the mid $9ks. That's just how BTC goes.

It might fall back to test $10800 before resuming its uptrend again. The pump to $12,300 is not sustainable because it is not backed up by equivalent volume. The movers of the trend were purely day traders and you know it is always very hard for them not to take little profits and pushed price downward in other to be able to rebuy again. Bitcoin will grow back but that is when the whales and investors are assured that it will not get dumped and pumped every days.

Get used to these crashes (and embrace them)

Or stay away from trading altogether. Regardless, I can help you understand why such severe price swings are happening and why they will likely continue to happen in the future (at high prices). This is the kind of behavior you should in fact expect from mostly a speculative asset. Long story short, the volatility of an asset which is mostly used as a vehicle for speculation but which has a fixed, limited supply at that is invariably set to explode at higher prices

I had been writing about this phenomenon in 2017 before we hit the 20k mark, that such prices can't possibly be stable. Now we essentially see the same picture, though at prices in the range of 9-13k. If we ever hit levels like 50-100k and those won't be supported by actual use of Bitcoin in real life, you will see prices surging and crashing as fast but even in the wider range in relative terms (relative means percentages here)

The flash crashes and increases hurts the economy more than we guys realize.

I mean I know this is a horrible example but I remembered what my dietician told me about my weight, now you can gain weight over time in years and it is still bad but your body adjust to it because it is quite slow, you can then lose weight and lose all the bad stuff with it (some stuff stay but that depends on how overweight and how long you have been overweight and your age) however if you gain 20kg and lose 30 then gain 40 then lose 50 in just 5-6 years, so move up and down like crazy, that makes damage to your body you can't get rid of, you may end up lighter than you started and still have horrible problems because moving like that hurts your body insanely.

Same with bitcoin, if it went up from 3k to 11k in 8 months and stayed there stable that would have been fine, but we moved from 3k to 13k even 14k almost and then moved to as long as 7.8k at one time and under 10k many many times and now over 11k which is why I think everyone is afraid of bitcoin.

If wishes were horses, beggars might ride

Bitcoin is volatile because its price is not determined by its real use (as a means of payment) like it is, for example, with crude oil (which is also quite volatile but through reasons not related to speculation). In other words, you can't really expect a stable price from an asset whose price is determined mostly by relentless speculation. But you can take advantage of this volatility and earn dough through it

The crashes are really pathetic.
But there are too some people who really wait for this.
But as of now the Bitcoin has risen a bit higher.
That's a good sign that BTC is becoming more valuable.
Nevertheless let's hope for the best.

^ Really a flash crash? I think that is not the right word you use instead. If you are here since late in the year of 2018 you should understand that in what the price we are now. Obviously, we are in a green condition and it is still in FOMO. OP, you should know how bitcoin is being volatile even though there is a small correction of price but after days or weeks, it will have resistance. Investing in bitcoin in the short term is not advisable for you because you will see the profit for the long term. Don't look at the market with an hour price chart history.

Draw back or corrections are always at the back end of this market, once the rise can't be sustained by the support levels it will crash back and hold where the supports are waiting for it, just don't stressed yourself in any means learned to have a good attitude towards this market, as if you build good foundations inside you, the chance to make it work for your investment is higher than being impatient and lose your positions.

I dont see any crash.

Neither me.
I only see people buying and making the price rise then a correction happens once they start making profits.
Overall it is good to be +$11k in the summer.

I think the problem here is some people are buying one whole bitcoin and they really shouldnt be because thats all the money they have in the world.   Seeing it decline a thousand so quickly would be pretty scary in that case, the old timers have the sea legs to be more used to this kind of move because these are just rough seas in a tea cup.   Percentage terms, this isnt much of a move.

I kinda wish Bitcoin was more a boring steady as she goes kind of vehicle but its actually still all over the place.   An actual crash would be a move down to 6000 in a day.   The top hit was a trend going back to about April, so it hurt a nerve to put it colloquially.   Higher volume from trends applicable over months will surprise the day trade sometimes, thats how I'd explain it.    

It even gets higher almost every day since the day when BTC dumps below $10k.  Flash crash is inevitable and yet can't be predicted but what it has today is the upclimbing trend of Bitcoin and the entire market. This is a market behavior and we have to accept this cause we can do nothing about this.

People should be thankful it there is an uptrend in the market and stop complaining although even if they have to complain about the crash the price is still higher enough compared to the price before when the Bitcoin started to drop to almost $2,000. Luckily Bitcoin didn't stop it right there as it is started to rise up again and shows a sign that it's back from almost dying during the bearish trend.

Don’t forget that we have people with different intentions, the reason why you usually see those crashes is because some people are taking their gain from the market when they see profit and if the bulls are strong enough to continue pushing it further, those ones will still have to return the profit and capital back out of fomo and this usually result to a very sudden jump in the price of bitcoin.

You thought that the value will just continue to increase without a corresponding reversal, it has never happened, you might even still get more correction than this, but when the main bull run starts, there is usually very little presence of correction, so if you know how to trade in short term now, you better do that, otherwise, you just have to keep waiting for bitcoin bull run for that long increase that you are waiting for.

me neither. tbh, it looks like bears are dumping into incessant demand. it keeps getting bought up. it looks like new highs are coming. BUT, i'm still skeptical until we make a decisive break upwards. we haven't actually broken the downtrend by most measures. as long as it's all lower highs, we can't plan on breaking $13.8k, new ATH, etc yet.

People are thankful for an uptrend when they have bought in their coins already at lower prices. Most of the people complaining pulled the trigger around the peak and therefore panic each time the price takes a dive.

People generally make the mistake of investing with money that isn't meant to be invested, go all in, or use credit. If you are that reckless with your investments then of course you will stress out.

I see people frequently recommend others to dollar cost average, but I wonder how many of them dollar cost average themselves. If people actually did so they would complain less because a dip is a welcome lower entry point.

As the saying goes, be careful what you wish for

I perfectly well remember how in the first months of 2019 people had been crying and complaining all over the forum that there was no more life left in Bitcoin. People were bored to death with the lack of activity in cryptocurrencies. Now I read someone who wishes that Bitcoin was more boring, huh. Do you really want those days back? I think this is the last thing all of us could seriously be looking for (with short memory being the second last, obviously)

I think we are always grateful when the price goes up but it makes no difference if its going to go down again, I mean there are people who bought over 13k recently and they are still waiting for it go back up those levels and than some, so if the price goes from 9k to 11k that is amazing but it would make no change if it goes back down to 9k once again, we are not happy when it goes to 9k and if it goes down even more that is of course more upsetting than reaching to 11k but just because bitcoin didn't go down doesn't mean the up was enough, it wasn't enough and it would have to be like 20% more to actually make a difference in peoples life's a bit.

Hence, we are of course happy that it went up but we need it go up even more to make up the loss we have made recently (thankfully I didn't buy there myself personally but thats the general train of thought).

It seems bitcoin price is hard to increase higher because this day, the bitcoin price is turn around in that price and cannot break $12k although we already reach that price before. But I still waiting for the bitcoin price to increase and break those price so bitcoin price can make a new rally to the highest price. Still, we can see the bitcoin price will increase and decrease, especially after the price increase to the higher price.

You're right about the market to experience a surge in price after the dump but the market will experience some slightly dump in price this weekend before it gets over $12K price range.


Actually, you don't need to get tired of the market crash because every market trend have its own advantages but most crypto holders and investors are always about the uptrend.

Seriously.  But they are actually flash crashes; it's just that bitcoin tends to be this volatile as its norm, and new investors who haven't looked at a 5-year price chart may not have realized just how crazy the price swings can be. 

Bah.  Just hold tight and the price will return to where it was and probably higher.  Hopefully you didn't buy bitcoin right at the top, wherever that was.  I haven't been watching it too closely as of late and did not even realize it had hit $12k.  That's something else if it did, and it's probably going to head toward its ATH of $20k or whatever it was back in 2017. 

Indeed! People who do commonly make these comments are those who havent seen  up the chart of BTC.If they do then they wont be surprised if how things goes here on this market.
Flash crashes can happen anytime or huge price swings and this what makes bitcoin too to be a popular thing and a good place for traders to make money on.
So if we are just new to this market then better we get used to it and not stress our self out too much into these movements.

During the stage of correction, we should have already notice that bitcoin is always struggling so hard to break barriers, and the fight between the bulls and the bears are always string, the bears may succeed to take over the market for sometimes but when the bulls really charge, we could see them running so fats like there is no destination.

I think that we should not worry about some of these corrections, we just have to make sure that we buy at dip and then wait for the bears to do whatever they have to do, it won’t be long before the bull take over the market again, and I am sure that this time around, if they succeed to take over the market, their next target before they rest again would be for something that is very close to $15,000.

A proper decline comes after a break of range, so I think quite clearly we are in a box right now bouncing back and forth within it.   To really move and justify headlines like this thread title we got to do something different, put either bulls or bears off balance make a little upset and have to rush to do something.

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

These are just 5 minute bars and we are fairly aimlessly wandering even though the peak and low are not that close.