Bitcoin Forum

Why the fuck is bitcoin declining, any FUD new or any whales dump? Dropped now from $11k to $9k

The price will continue to decline, so you should exhale and be patient

Funny thing is that ALWAYS when are bombastic news presented like bitcoin 15 000 usd til end of week, goldman sachs analyst confirms the trend is bullish and we will see 13800 usd in few hours.. always it goes down.

Bitcoin's price literally more than doubled doubled just from around $5,000 in April up to around $12,000 in June. That's just in two months; and you're already complaining when bitcoin dropped like $1,500? Seriously. Do you expect bitcoin to go up forever? Holding bitcoin is not for you if such price swings scare you.

The BTC price is still high, so I don't see any reason to panic

there has been lots of FUD nonstop for the past month. practically ever since price reached $13k for the first time this year and stopped to have a small correction and get ready for $15k and then $20k we have been having a lot of FUD as it is the case with every corrections in bitcoin.
these small drops below the major support lines are always the last tries of the bears and the whales to get their hands on some cheaper bitcoin before the next rises begin.

From April month starting the price started to rally and reached peak price close to $14000. The bullish market with some wild fluctuations continued for more than four months. Now once again the market has begun to decline, and this decline could reach the low value of $5000 if it doesn't get good support at some price. This is not because of the FUD and other negative news, the market is experiencing its common form of growth pattern.

Because stock markets are taking a poo?

Many of the same people are involved in them. If your main game starts to wobble then you're not going to stick around with your wild bet.

This 'uncorrelated' stuff doesn't ring true to me. It may ignore the occasional day here and there. It won't shake off a decline in everything.

It's not a 'problem' as long as this is the low and we leave it at that, because that would mean we have another higher low.

Currently we have tested the 100EMA on the daily for the first time since we had the pump from $4000 to $5000. I think that's a very important moving average to focus on. If we do close below it, that would definitely spell a bearish trend continuation with much lower lows as result. From here it's going to be interesting to see if this was the breather the market needed, or just a temporary burden on the way down to lower lows.

A whale made a bet with CZ and is now shorting bitcoin so that he can win the bet. As simple as that.

Don't worry this is just an initial reaction in relation to stocks dropping, this is just temporary and eventually Bitcoin will be back to its uptrend movement. It has been noted in the past that bitcoin is independent with stocks, so there's nothing to worry if you trust the market, besides, bitcoin dump many times and we are still here and we the price now is higher than the starting price this year.

This price still a high price for me, at least, the price a stable in $10k although bitcoin price cannot stable at that price or down to the lower price. With $10k, I think we can find a way to make a profit especially if the price can go up and down many times, but if you think that the price still going to down, then you don't have to buy bitcoin for a while. You can watch the price moves while you can decide to buy it later when the price reaches the lowest price. There is no need to complain about the price down because the price will be increased again soon. It is just another correction for the price.

maybe the answer is because of this:

$3B Ponzi Scheme Is Now Allegedly Dumping Bitcoin by the Hundreds (https://cointelegraph.com/news/3b-ponzi-scheme-is-now-allegedly-dumping-bitcoin-by-the-hundreds)


The price has even dropped to $9900, this news may even be responsible for seeing a large price drop. But this is something that we will discover in the coming days or weeks


and where is the source of it?

Now that you can predict Bitcoins price, nothing can stop you from being filthy rich :)

No news that I've read, but dropping $2000 when bitcoin is above $10k isn't unexpected, and there's no reason to panic.  Hell, it was at $9k just a week or so ago, wasn't it?  What you're seeing are normal market movements, and my guess is that there are a lot of people taking their profits.  That's healthy.  Would you be happier if bitcoin shot up to $15k, $20k within a month?  I wouldn't, because at that rate there's no way the price would be able to sustain itself.

It might be, it might not be the low--who knows.  Everyone should keep the current price in perspective, however.  It wasn't too long ago that bitcoin was trading 3X less than it is now.  Where it's at right now is pretty damn sweet in my eyes, even if it's dropped a lot in the past day.

It is possible that it is only natural dump, identical to what has been going on for weeks, but summer time is ideal for whales to catch small fish in large quantities. Be happy that we are close to $10k, anything above that is just a trap, real pump will have to wait a while longer.

On the other hand, if you want to blame someone for the recent fall, this is the best candidate :
 
https://www.binance.com/en/support/articles/360032315391


Old news, you can read about this bet here : https://bitcointalk.org/index.php?topic=5175135.0

We fucked up many times like this and yet we are still here and making a big progress every year. This is normal dude, i saw a lot of price movement like this and made money thru this trend. There might be a fund news around the world but hopefully we still on track going up. Buy bitcoin, its cheap or wait for the bottom.

It aint even a new thing that happens with BTC.
Time to get used to it even if you are just starting.
This will happen over and over again and if you are in panic then wrong decisions might be made.

Also, you are putting it already in 9k position while estimated it is still 10k price. Calm down. It will be worse if it goes 6k again.

This thread is FUD ;D

Bitcoin itself is slowly increasing in value. No stock is ever a straight line.
The decline is good because all short-term-trader n00bs will get burnt and leave.

When Bitcoin goes full-bull we will get a way better ATH this way 8)

Things weren't looking that great even before the selloff started, and to my knowledge there's really been no big news since the start of this besides a few rumors of a Chinese ponzi starting to sell off the coins it's swindled from investors that I've mostly dismissed. Just seems like people started to panic sell into the dump and it just kept accelerating even though most indicators showed things were extremely oversold for hours before we bounced up from the upper $9400s. We're still doing pretty well considering how quickly we rose into this price range, and we may even be poised for another bounce considering how big and continuous that selloff was.

Just now I am checking and it is around 10k levels, in many exchanges as well. It just dropped a bit from 11k levels to 10k levels and that is not really a news worthy thing in bitcoin world. The price has trends which is basically what we call the walls and when there is a huge wall that doesn't allow bitcoin to go above certain levels and walls that doesn't allow bitcoin to drop to certain levels price usually goes between those walls and that is what we call trends.

Now, when people know these trends they usually sell at the top and buy at the bottom to make the most money they could from the movements, its quite a common method to make money and that is why we see these small ups and downs frequently. Until something huge happens there is absolutely no way to change this course.

In order for the cryptocurrency market to grow well in the fall and especially in the last months of the year, now it must rest with normal people who are usually on vacation during this period. Therefore, in the current fall in the price of bitcoin, I do not see anything bad and unusual. From the end of September, I think, we will see another good market growth.

You need to understand Op is that BTC is now a days fluctuating a lot.
When you wrote this post,  BTC was at 9k usd,  but now as of now it's 10k usd+and growing.
So no need to panic.
This is happening as the trading volume for a particular time is increasing.
Hope you get it.

The whales will always want to buy cheap and as that, they will always manipulating the price by creating fud. If we really want to make money by investing in bitcoin we must differentiate between fud and reality! Buying during the fud and sell during the reality is the right thing to do. The current happening in the market is just a correction and it is good that we understand that the weekly and daily charts are still showing bullish signal.

I today read that they -allegedly- have started selling before we started going down from $12k to where we are right now. Why hasn't this been in the news before? It's probably just some fud to drive prices lower.

If these scammers were really selling, exchanges would have frozen their accounts and balances already, unless they purposely allow them to sell, but that's highly unlikely since exchanges don't like losing that much fiat liquidity.

In other words, we're experiencing a technical sell-off. We hit the descending resistance days ago and now we're about to, or have already hit the bottom of the ascending support. Today's close will matter.

Exactly what I was thinking with the Ponzi news- most of the time this news comes after a large price movement as if people are trying to justify why prices declined and almost never before things start dropping, and unfortunately people who trade off this late news sometimes get stuck in their positions as the price moves in the other direction. I've done some basic charting recently as well, and it seems we bounced off the bottom of an asymmetrical triangle yesterday, though we did wick down below it temporarily. This along with the numerous indicators I'm watching that indicate we're oversold makes me think a bigger bounce may be around the corner.

The below chart is on the daily timeframe.
https://i.imgur.com/9XAvons.png

Thats the problem with these darn charts, can be drawn several ways so which way is correct.   It seems a trend must fail multiple times from varied perspectives before it falls hard like was in potential.   I think it looks bearish in several time frames and is also on trend to decline, its been a while coming so my guess would be the negative does take place.

https://i.imgur.com/qqpVc3N.png

This is only short term but watching if it holds down or not.

You are easy to react man, as if you haven't seen this before, don't worry about the dump because bitcoin has recovered already.
After being down to $9K, we are now back at $10K and from here, I'm expecting we will again see an uptrend that would again change the mind of the bearish people when BTC were down, this has been the trend this year so far, let's get used to it.

That was just a normal correction, and if I were you, depending on how buoyant you are, I would actually have taken that opportunity to buy at that $9k because a time is coming soon where you will look for that $9k and you may never see it again because the price would have gone to high. Imagine that you buy at $9k now and then the market grows back to $13k, if you are the type that does shorts, have you not already made like $4k dollars which I am sure that this 413k will be seen again within the next 2 months.

How many people earns such salary within 2 months, but it is something that you can earn with just a simple decision and a very simple process that does not take more than 1hr. which your remaining job will then be to be monitoring the market.

How about that you start read more then title or last post? It seems that most have no idea that if one of the biggest exchanges is down for 6-8 hours price of BTC will go down just because of that. People are just stupid and they do not understand why they can not deposit or withdraw, assuming something bad has happened so they spread panic and directly affecting the market.

That should just be a speculative news, don’t be surprise that he might have also seen the decline but would want to do everything possible to use positive news to stop it from happening to the best of his knowledge, and you see, any little slight decrease, we have lots of people that are too weak and would always panic sell when we have any minor dump from probably a whale.

What I have learn is when all these type of high decline happens, I should just probably keep accumulating more because there must surely be a rebound in price, and even if the price of bitcoin does not get to that $15000 now, I so much have this believe that by the end of the year, the price of bitcoin would have actually reached that and maybe even above that but will corrections, settle at that.

https://bitcoinist.com/whale-bets-binance-ceo-10-btc-that-price-will-drop-below-8k/

I think it is not declining enough to actually matter, what people do not realize is that as long as there is no wall upside that means the drop is not permanent and its quite temporary. Literally within a day it could go back up to above 12k without a problem because there is very few orders until than but it becomes harder above that. So, this fall is not really something big and should not be cared at all.

I feel like maybe there is a chance of even slightly more falls because people want to get more dollars in their accounts in order to attack more when the time comes, people want to buy more during 12k wall times so that they can break it and than move to above 13 even more levels to make the real money, moving between 9-11 is starting to be boring to people.

::)

Bitcoin declared "dead" many times, China banned it, social attacks everywhere, tried to be co-opted by the mining cartel/top merchants, and losing a few hundred points under $10,000 is scaring you?

Buy the dip, AND HODL. 8)

This time around the drop hasn't been that much of a drop. It happens that price moves a bit up and down and that is just normal market days, since bitcoin is an unregulated market there is no central organization checking whats going on and any insider trading or any manipulations or speculations etc etc which means the movements are harsher here.

However, even in stock markets (hell even in gold) there are smaller movements, check any stock you want and 99% of them move up and down slightly every day, maybe cents on the dollar and not hundreds of dollars like bitcoin but they do move, couple cents up (sometimes couple dollars up depending on the price) and couple cents down, that is normal.

We in crypto just do that a lot bigger because we are too speculative and can do whatever we want with the price without being afraid of SEC.

When there is a dip, trader should buyback immediately to regain its stock of bitcoin after shorting. But it also depends on each trader on what type of investment they have to do whether it's a long-term or short-term.
On the topic, the price is still profitable and it is still bullish if you compared it to the price in a couple of two months ago.

The most important part is this.
Until now, Bitcoin price is profitable in almost 75% of time and i am pretty sure it will be 100% once it returns back to +$18k  ;)

Many traders are taking advantage of the current market situation.
If you know how to handle this situation, you will treat this as a good opportunity to get more btc and not complain about the declining price trend.
Sooner or later, I strongly believe that the btc price will go up again.
That is right, short-term or long-term investment, it all depends on the trader.
As long as there is profit on either type, I guess you are already winning in trading.

True. If one thing is near certain it is the multi year bull market.
So if you are willing to wait 5 years any time is a good time to buy.  :-*

Lol, bitcoin is a living ghost already, there is nothing that can ever kill that cryptocurrency again, in fact many government are already giving up on fighting It and looking for ways for which they can make use of it, the stubborn and proud governments like that if China and US, rather than accepting it, they are thinking of creating their own cryptocurrency which they should expect will fail and will never be accepted as much as bitcoin will always be accepted.

With this lightning technology which will solve the speed and scalability that has always been discouraging people in making use of it for payment, many merchants now will start accepting it as payment currency for what they are into, and this coin will finally become a global currency on its own.

Bitcoin lost a little from that year 13800 high but price is still above 10k what is really incredible.Bitcoin halving begin between march and may 2020 what is very soon
We will have some pump and dump until bitcoin will goes parabolic and make new ATH
Nothing to be worry about some correction and hype or fud to hype or decline price

This is not new in bitcoin market condition price may decline. Some catch this opportunity to have some btc at low price. Many reasons why bitcoin declines but we should be positive when bitcoin is struggling.

Whatever you said, i am agree with you.
But people have already seen better condition then this.
I am saying when BTC was at 20k USD.
So people are expecting more from Btc.
Nevertheless lets hope for the best.
Btc will soon again rise.

Lol that only last for atleast a week because after that bitcoin again recovers,the question is for how many times this quarter that the value goes up and down?
Anyway be happy whenever there’s a dump that happens because this gives us a chance to buy again and  have another coins in our folio with cheaper prices

Its always declining on some time frame, the interesting thing is to speculate how long would it decline for and will it accumulate into a proper price movement.

So I'd guess bullish at present as there is some trend on the daily bars for a steady rise repeated

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

however that is just a simple look and even in this case we are below the 50 day average.    So we've pulled back and the more cautious might want to speculate on if we will remain below that 50 day average.   Im quite a cynic until we beat it and need to look further to decide.

It doesn't really matter much what happens in the very short term unless we decisively break the descending resistance and have at least two daily candles close above it.

Based on the descending triangle that seems to gain more shape every week, the next leg up (if we have one) should peak just over the $11k mark and from there pull back in a brutal manner, possibly with another dose of fud to go with it.

People say we're still in an uptrend, which technically is true if you zoom out, but the chart doesn't look as pretty anymore as it used to do. I rather be conservative and be proven wrong by going up than being overly bullish and see the price dump.

There is one common thing I just usually tell my friend when I invite them into bitcoin investment, I made them choose between being a trade or an investor, and as an investor, they have to understand that they will need to stay with the market for at least 10 years because that is when bitcoin will develop to the fullest, and I think that has been helping them.

When my friend sees bitcoin fluctuation, they find themselves not having any panic because their goal is for future, which Is how I see my btc investment too and don’t bother myself with all these short decrease, no matter the decrease we have now, imagine where bitcoin will even be in 5 years’ time, I know that the last ATH will even be the lowest by then, so I just don’t stress myself about all the declines.

^^ I did the same thing with my friend who asked about bitcoin at the peak time of December 2017, he asked if he could join and get some bitcoin as well and didn't know how easy it was. I opened an account for him on our local exchange and sent all the KYC stuff right away and he was accepted in an hour while we were talking, then he sent some money via bank transfer and got some bitcoin for himself (just 100-200 dollars to test if I remember correctly).

After it went down all the way to 4-5 thousand dollar time he asked me how he could get out, I told him not to but he didn't listen and I told him how he can cash out and he did it, now it is back to over 10 thousand dollars, considering the increase of dollar value versus our national currency as well he lost about 50% more than he normally could, let's say he got in with 200 dollars, he sold around 50-60 dollars instead of 120-130 dollars right now. Some people are just too afraid of what could happen if they wait a bit more.

It give you thinking that you should be selling your Bitcoin now, well I guess if you have bought at 13k USD and now afraid of losing money in with just those minor setbacks. Just be patient, everyone here feels the and you just have to wait.

Today, we almost reach $11k again after we see the down of the bitcoin price for a while. Bitcoin price still needs time before it could break the higher price and gladly, we see a green candle at many exchanges so it will increase soon. But we need to be careful because the price still hard to break the higher price, and maybe we need more support to lift the price. If you want to buy bitcoin right now, make sure you know how much bitcoin you want to buy, and don't be panic if the price is down for a moment because it will increase higher later.

They are not just man enough, that is why they are too afraid, real business and investment men, understand the risk in cryptocurrency, so they don’t put money they will not be able to overlook for a long time, some of them do out money that is tied to so many thing thinking that they could easily increase it, since they believe in their heart that it is a money doubling scheme, but they don’t understand the volatility of the market.

If only they can understand that even if the price decline today because of volatility, no matter how long it takes, the price will be back up again. They must have learnt that lesson by now, and if they are to come back, they will watch the market carefully and understand when to come in so they don’t rush into it again when the price is getting to peak.

With his attitude!!He won’t even stay longer to hold.with just 2k$ drop in price this is his reaction?so what if 2018 bear will happen again ,surely he will become crazy lol 😂

In crypto all we need is patience and trust because if this two don’t fits you then better leave crypto investing because this is not he right place for you

Anyway I hope OP now is in good mood because we are nearing 11$k again switch $10,700 in price as of this very moment

Second hit of support and a higher low this time, still bullish enough I guess

https://i.imgur.com/M2rYvFA.png

However losing 8 and 30 day moving averages would signal caution I think.   So stop loss below 9800 I think I would place for anything speculative.

Also 50 day marks the top prices today.

I would understand his fear during the market shake up of 2018, I guess everyone was very nervous and just push the sell button because they think that the price will continue to plummet in 2019. That's why we have a saying here that weak hands are shaken and only the strong survived in this market.

And now look at those guys, regretting that they get out with there is heat in the kitchen. And trying to get it today and ride the market. Let them enter the market though, I mean they should have learn their lessons, that you need to have a lot of patience here and of course the risk is there but they should learn how to control or at least mitigate it.

In these situations, I think if we can make a profit, it is better to sell some bitcoin we have so we can buy back again when the price is down. This situation will be up and down again, and that is the reason why I say to sell some bitcoin because we never know when the price can increase or decrease. By buying and selling, I think we can survive in any conditions so we can have more bitcoin, more fiat to wait for the increasing of the price.

I could wait for that long because I'm a real believer and I don't expect the past will be repeated easily although I hope it could happen any time this year.
We are left with no option now but to hold, Bitcoin is declining is not much of a problem to me as so far this year it's still up, hence that means it's starting its recovery. What makes me worry this year is the altcoins, I know some of us here invested in altcoins also, and they had not started to rise yet.

If you are comfortable playing with the market and you are willing to take the risk this situation can help you building your portfolio and allow you to generate decent profits, but if you're not ready and your knowledge is not enough better to keep your coins and forget for a while since there's also big chance to make a mistake, panic selling and losing your investment always possible to happen.

Once Bitcoin goes parabolic and people are going all FOMO, then bitcoin will be sold out at a lot of places.
Altcoins will then be interesting and climb.

Selling and rebuying lower is a very risky move, you don't know when it will go up and you don't know when it will go down so its as risky as holding as well.

Maybe you sold at 12 to buy again at 10 but maybe you sold at 10 and it goes to 12, you never know which one we are in right now until we actually see it happening. That is why people keep saying hold your currency unless you really need to cash out, if there is something like medical or something bill then yeah sure but if that doesn't happen then you really need to hold it because long term holding is the only guaranteed method of making money.

Bitcoin is pegged at dollar right now mostly and we calculate the price on dollars all around the world but dollar loses its value every year, 100 dollars is never 100 dollars, what you can buy with it changes every single year and difference is bigger if you look at decades, so bitcoin holding for long term will eventually profit you in the end.

That's exactly how the market operates, and that is why is very hard to timing the market, you might be "catching a falling knife" here. So you could hold and if you think that time that the current price is good for you to liquidate and make a profit, then push the sell button. I don't have anything about long term holders, I myself have been holding my Bitcoin for years, but I try to be active in trading if I see some momentum and swings to get a decent profit. That's one thing that makes this market very attractive and that's why we always see new traders being born every day.

true but things are never that easy.
there are times in the market, when the trend is more predictable than other times. for example right now it is not so much predictable. all we know is that price is going sideways between $9500 and $11000 and unless it starts going above $12k we can't do any trades for sure.
but for instance when price first hit $12k+ if you sold there (as a short term trader not an investor) then it was a good choice then you could enter your accumulation phase where you bought incrementally between $9.5k and $10.5k and wait for the sideways to end.

You don't have to sell at 12k to make more profits during the 9k-11k period, you could just buy at 9k when it drops (whenever bitcoin drops under 10k its a prime price to buy) and then sell it when it reaches 11k whenever price goes above 10k its a good idea to sell). This may not be a long term idea but it could totally make you a decent return in the short term, that is why I always support people who trade in between trends.

It is not a big time period compared to 10 years we have been in operation for bitcoin but at least these last few months it would have been a lot profitable than any other method, how many times bitcoin reached under 10k? How many times it reached over 10k? Many many times and all of that would have accumulated a great return for everyone.

Yesterday bitcoin drops to 9k usd again falling 600usd in just couple of hours so are you angry again!then what about if bitcoin is Inc growth are you celebrating?
Why people act this days nowadays,are those remain here are pretender to be investors?i hate it when I saw thread reacted badly just when they are about to see small decreases in prices
Can’t we give bitcoin and altcoins some time to grow good again without making this kind of weak thread?

For several times that we are experiencing like this, I don't see this a form of another bull trap. There is another factor that brings the price into like this and that is we wanted to look by rather than of blaming directly to the whales for this drops. Whales are not in control with the market price, yes they could influence the trend but not actually they are the one causing of all ups and downs scenarios.

Its a small bear trap so far for today on the 1 hour bar perspective but I dont think its fully resolved just yet.    Its quite confusing short term for us to reverse immediately like this, it can be said to be repeating continually though I think there is a trend longer term.   Today  its risen from support it found previously so I guess there is alot of orders in that area and it was very briefly at 9600 for like a few minutes then most of the day near 9800 and spiking upto near the 50 day average which again I think has alot of sell orders waiting.     Hence we remain contained between buyers and sellers either end  9600 to 10400.
  I believe this is called a Doji candle and doesnt really point towards a bear or bull trap exactly.

https://commodity.com/technical-analysis/doji/

you mean "bear trap" because it is the bears who are being slaughtered these days as they are the ones thinking the price should go down and go against the market. otherwise the bulls are accumulating in this sideways market to get ready for the launch.
as for whales, you have to remember that not all of them go in the same direction. for example the whale bears that are having their heads chopped off these days are going against the whale bulls that are eating them up. :P

I will do that if I have enough information about what is happening in the market. I don't want to risk my money to something that I don't have info, and I will stay calm for a while. It's not recommended to push ourselves to enter the market when the market itself cannot be predicted. I think the other trader will do the same as us if they know the market is not good to trade and it is better to hold than to sell the coins.

What in seven hells  :o     Clearly this market is an unnatural abomination, gonna massacre both sides short term shaking out the weak hands in speculators trying to hold or sell BTC for a quick buck.   When its finished thrashing about, then it finds a direction longer term.

https://i.imgur.com/Tf9hFJOg.png

I drew this trend trying to find the most common point between prices since June and it came up like this, doesnt have mean the market respects it but prices usually bare a relation to previous chart history.    I thought it looked quite bullish with it holding a line and only briefly breaking down yesterday and recovering.    See if we lose it or maintain that base.
   The really simple measure is 50 day average which is 10,500 and also we continue to have 8 day and monthly here also so I'd say negative until thats beaten but otherwise it could be building short term in order to beat that measure and attempt higher.

Those computers will not be available for the masses for a long time and unless Google will use it to mine cryptocurrencies, i do not see any relation between it and bitcoin or others cryptocurrencies prices.