Bitcoin Forum

On 6th of July 2019 the Bitcoin price was hovering around $7700 and within 20 days it went up to almost $12600+ and nobody even anticipated that it might happen. This was just over 2 months ago and a lot of people with a very short memory are already panicking and selling their coins.  ::)  https://www.blockchain.com/charts/market-price?timespan=1year

I am posting this as a reminder to those people with a short memory that things in Bitcoin change at a very rapid pace and if you are too focused on the immediate price, you might just miss out on the next big price bump.  ;)

Also remember that we were playing around with a $3000 to $4000 Bitcoin price back in January, so it is not the end of the world, if we see a little correction.  ;D

Buy low and hoard those coins, you will not be disappointed if you do. <It might take 1 month or even 3 years, but I would rather be prepared ...than jumping the ship and being out of coins when it happens.>  ::)

"When in doubt, zoom out!" - a quote I've read on Reddit in the past.

There are so much panicking after every price dip that they don't realize that even if the price dropped, we just came from a low of $3k-$4k like 5-6 months ago. And to be honest? Even though I'd definitely prefer a higher price, I'm still really happy and content with the current price of bitcoin. This shouldn't really be surprising though. The less-experienced "investors" a.k.a. gamblers in the cryptocurrency markets are really short sighted, whereas the more experienced investors look at more of the long term.

Whether it's uptrend or downtrend in the change in direction, there's always a change in the coming days. We may not predict it correctly, but it's either you believe that it will go up in price or not. This reaction is common in this cryptocurrency world, especially the ones who had just joined. I think when the newbies learned that Bitcoin is already high in price and then suddenly drops, it's the end already but that's just the misconception.  

Imagine having the opportunity to trade it with that kind of volatility, wouldn't you want to take that into your advantage? Instead of just crying because of the price? It's only ourselves to pick up and strategize what we're going to do with our BTC, making sure you know what you are doing, and you know the risk.

Likewise, about a year ago it was hovering around $7000 and nobody thought it would go any lower. Then it plummeted 50% to $3400. Moral of the story -- expectations based on wishful thinking are still just wishful thinking.

Bitcoin price has a higher percentage to get back on $10,000 again, base on the movement of the price a month ago. The more it falls the more the chances to get its prices to above $10,000 again.

most of the intelligent investors know this thing that's why they are waiting for it to get to it's lowest price then they will swarm on buying it again. Buying Low and selling high can be tricky sometimes because you don't know if this the lowest price it can get. but as of now, the price is under $8000 no one can tell us here if this is the last price or no.

Actually a lot of people don't realize when an opportunity period is there and then they cry at later stage for missing that opportunity. I have seen it a lot of times, especially during late 2017.

A lot of people bought bitcoin at 20k that time because they didn't want to loose that profit making opportunity. That same group of people denied to invest in bitcoin when the price was below 12k just few months prior to reach ATH. That's human nature with conservative outlook!

Good quote. Very relevant, especially for bitcoin. If people are still looking at it from a  short term perspective, better to just leave crypto. Though there may be less people now who'll see this drop as a doomsday sign. We've been through this before and many of us have already learned our lessons from past pumps and dumps.

Agreed 100% ....we cannot create unrealistic expectations with people that a higher price would be guaranteed, but let's be ready if it does happen. Do not just give up and be unprepared when it happens.

Sell some of your coins if you are still in the green, but do not sell it all, because if it does happen and you sold all your coins, then you would miss out on the real profits.

I have many friends with a short memory and I gave them this advice and 90% or more of them thanked me later.  ;)  

The more the price drops the higher the likeliness to get to $10k? Not sure where you got that information, but I'm pretty sure that's not how it works. In a technical analysis perspective, as far as I know, bitcoin should need to stay inside a certain price range for us to conclude that it's more likely for bitcoin to go back up to $10k. If it falls that certain price support, it's more likely for bitcoin's price to drop more.

Well, people who love to panic and jump ship can do so anytime they wanted to and no one should be stopping them. Just as Bitcoin can be very volatile and can be shocking at times, people who failed to understand well the historical precedents of the coin should divest their holdings now because there is a possibility that its price can go low further. I am sure that by the time Bitcoin can be back on the upswing some of these people will also be back and will even be proclaiming the many virtues of the King of Cryptos.

And sometimes you will see people who are suppose to be familiar with the market fluctuations from time to time are the first to panic sell,   after the increase in price this past few weeks this correction is expected, it shouldn't be anything to panic about,

Once the market is on red, I try not to look at my portfolio so often, I engage myself with other stuff, but it's difficult for many to see any correction in price, it result to many selling at loss, they fail to realize that market will always recover after the correction.

Its really hard to predict  bitcoins price right now because it is going like weird and pumping and dumping in unwanted moments not like previous years where we usualy see a sudden or slow pump at price of bitcoin which we cant see now its a bloodbath now

As BTC has dropped vital 9K area last week now we have only one direction - Down. My suggestion is 6.4K-7.2k area. If you are using chart and familiar on fibo, you can see that 9k is the Fib support level when BTC price bumps from 9k to 11k level before the current dump occur which creates Agreement with the level on graph my chart. It's a bit complicated to explain without a chart but I don't want to post here my chart since I hate bashers.

I believe that the safe area to enter is around 6.4k to 7.2k since BTC is very bullish in long term view. BTC will form bullish flag if ever the price climbs back again to 13k(Finger crossed).

This is the right thing to do. Instead of panicking while looking at the market down just invest and grab the opportunity when bitcoin is cheap. We really don't know when it will pump or dump but we should prepare on the possible happen. Hoarding coins while the price is down was a good idea.

However, we could not blame people for having a mindset of wanting a quick profit (they are not crypto enthusiast), they don't know how crypto work and what is the advantage of having patiently wait.

The funny thing is, everybody has $ 20,000 in mind. As you said, no one sees that we were at $ 3,500 7-8 months ago, and now it's almost tripled.

Actually, I think we need to go back. We need to see Bitcoin big price movements again. This will be more remarkable.

https://i.imgur.com/QqPKpq0.jpg

This image shows us big price movement of BTC from the beginnig to 2nd Feb, 2018.

I believe in market corrections from time to time and am scared stiff when I don't find it. Bitcoin is at correction phase now for technically it has crossed MA downward on weekly time frame. So, I expect more bears in days to come. However, I am not scared zooming out on panic for I know the price will go up later. It's a sure bet that Bitcoin is the most secured crypto with the guarantee of rising whenever it falls. The best thing to do at a time of a fall is to tether and not panic sell off.

The only people who panic at these times are beginners and short-term investors. The first does not realize how is it possible that something they paid $10,000 a few days ago is worth less than $8000 today, and others sell at a lower price just to avoid more loss.

Another price bump? I don't think there's any reason at this time for recovery, it seems that the decline will continue, albeit at a slower pace. Although the part of the year comes when Bitcoin usually shows the best results, this year has shown that there are exceptions. It is still three months before the end of the year, and when we look at it from this point, it is possible to return to $10 000, but also to drop more.

But not everyone is investing for the long term and there are some who are just new in crypto so this kind of things would provably drive them off and let their emotion take over.
Not everyone is brave enough to hold on and take the risk but I do get your point and I agree with you ,
When it comes to investment in Bitcoin it is better to look at it for a long term sight rather than just a short sight where if the price drop happens they would tend to panic and sell.

Words of wisdom right there. Bitcoin is sometimes really unpredictable and would spike up at a moments notice without any warning. This has happened a lot of times and yet people still get scared and panic sell their coins when the price is at a low.


Honestly, short term investment in bitcoin can be looked at as a waste. Just like what you said, longnterm is the way to go.

Patience is a must when holding coins and honestly, those without such characteristic can hardly profit in the crypto market.

Absolutely brilliant quote, proverbial, short and on target. New favourite of mine :)
Always better to grasp a bigger picture, not only in crypto. And the bigger picture definitely suggest some major moments.
Question is, in what direction? Short term will be, as always pretty bumpy but general tendency remains as uptrend.
Looks like most of us are optimistic, I hope we are not on overhype mode, blinded by enthusiasm...
Nevertheless corrections usually get equalised at some point, so as always patience is the key.
 

Yes try to buy some and take advantage of the low price aim for the future and don't let the short price dump scare you.
The newbie's should try to learn from the past price of crypto and don't let their emotion eat them .

People only care when the price has started to increase, and they will start to buy when they see the price changes from the red candle into the green candle. I think that will be a little bit too late because the price has begun to increase and they don't get a very low price because they don't see a chance when the price is at the red candle. That happens to most people at the market, only some of them can use the moment of the dropping of the price and take the benefits to get a low price.

When we can see the price is down and make a red candle, we should prepare to buy bitcoin otherwise we can only stay calm and don't panic. The option will be yours and only you that will know what you need to do. The important here is don't panic and keep analyze and decide to buy, wait, or even don't do anything.

Could you be kind enough to elaborate more on this?  ;D

Of course, I could be wrong but this could mean $20,000 to the majority. That ATH has become the standard and even the only hope to many of us during this certain age of the Bitcoin world.

If that it refers to $100,000, how many of you are still HODLing 100% of your BTC when the price passes through $50,000?

It makes me chuckle a little because of how shortsighted people could be. And I am referring to most of us, you and me included. In fact, even the most veterans of us here might have sold many of their BTC at $1,000 or even $500. Who would believe that it would grow as big as $20,000 when it was just cents a few years ago?

https://i.imgur.com/dS1xL2Z.jpg
(Photo grabbed from https://twitter.com/Rhythmtrader/status/1178404074838020100)

The cryptocurrency market usually grows in price in the last quarter of the year. We are just approaching this period of time. Therefore, bitcoin can still drop in price, and then, after some are sold and others are bought up at a cheap price, then bitcoin can even go up to even 15,000 - 20,000 dollars. Even if this does not happen at the end of this year, then certainly in the first half of next year.

If one thing that bitcoin has tough us over the years is everything that you think is impossible is possible, none can forget back in 2017 where the price skyrocketed and everyone though it will never be able to reach like 19k or 18k until a couple of years where in a span of a month it went from 6k to 19k, the one thing that i can say is that we have been spoiled by bitcoin, just because the price went down a bitcoin people are complaining and losing hope where they forget where we came from, keep in mind that there was nothing major that pushs the prcie this years, but keep in mind that next year with the halving things will change so this is the only chance that you have to invest as much as you can before the price starts ascending.

We should be accustomed to Bitcoin's movements by now. This is Bitcoin's nature and it will always be volatile like we see now. I am ready for a price bump and it might not be so far away from this date.

Let those weak hands sell their coins for a cheap price. And I'm sure someone from the other side are very happy picking it up at a discount price. As the saying goes, 'buy when there's blood in the streets', so definitely I'm taking advantage of the situation. And I'm still very positive that we can bounce back in the coming weeks and months, so take this opportunity.

Well you know it’s pretty normal for those new investors to panic and sell coins whenever they see it’s good to sell because they don’t have enough exposure of cryptocurrencies market or should I say they don’t have that strong trust in bitcoin because they haven’t experienced what happened in the past wherein the price went low at $3k and then in just a matter of months it went up to $12-$13k. As investors we all want to have profits that is why we tend to see panic selling of coins because they don’t want to miss out the profit that they can get even with a few pump in price.
On the other hand, I guess investors should understand the market better and trust bitcoin that it will once again rise despite a few dumps because it already happened before so it will surely happen again, we just have to be a little patient for the right time to come, besides it’s bitcoin, nothing can go wrong with bitcoin.

In other words, the market in Bitcoin is unintentionally unpredictable, but you're right in saying, some investors are looking forward to dropping its market price. As it happened a week ago, bitcoin's value has dropped, which has also spurred bitcoin buyers as it has dropped prices to date. So let's take advantage of the opportunity as long as we can buy at a cheap price.

for the time being it seems like the market is deep in panic mode and people aren't really willing to go any other way. which is why we have not yet seen the recovery start. and surprise surprise it is the same exact thing we had earlier this year when people were filled with dread when price was struggling behind $4k barrier. their reaction right afterwards was more surprising when they panic bought bitcoin to shoot the price above $6k and then reach $13k in a short time.
i'm afraid we are in for another repetition.

Here we go, this shows how the crypto market has changed the atmosphere globally. Investing in BTC is like a millionaire project and yes those who made investment before years are living a lavish life now. BTC is a real life changer it will give you surprises after few years currently the market is unstable which doesn't mean it's dropping wait till the end to this year if you want to see some big changes in the value this is for those who are eagerly to sell BTC.

I agree with the author of this thread. Bitcoin is an asset that will grow in any case, it needs time to go through the key points of resistance. Now the bear market is coming and this is good, as there is the opportunity to buy Bitcoin at a super bargain price. And to get profit you need to wait

Since I started this thread the price recovered with more than $400, so it is not unrealistic to expect that we might see a further recovery back to $10 000 or even back to $20 000. I know a lot of people are new to Crypto currencies and all this volatility must be a scary situation for them, but do not lose faith that this can turnaround within a few days.

If a price can drop with 20% in a day or two, it can surely spike with the same percentage. We have seen this multiple times before, so we know it can happen. When it does happen, it feels like you are doing a bungy jump, because the adrenaline is pumping when it happens.  ;)

This is the basic strategy everyone must follow when it comes to trading, but what majority of them does is sell off when the market goes down thinking that it wont recover anytime soon and then speculate and miss out all the investment and then curse the market that they ended up in a loss. Always invest when the market is low and go for the long term rather than taking investment decisions without thinking.

Having faith doesn't work with crypto trading. It purely depends on market situations. If there's more demand, great. The price should be going sky high. If the reversed is the case, You might end up catching a falling knife. But one thing I'm quite certain of is that, Bitcoin would still recover back. It might not be immediately. Remember the $400+ pump is a relief rally. For me, I'm all set for another BTC ride. No longer in USDT.

Those of us who are here for a longer time may not anymore feel that bungee jumping feeling. Although there is still a certain degree of shock if it is around 10% that decreased in the price in just a matter of hours or even in a day's time, the feeling is not anymore like when we were newbies ourselves. Before, even a short red candle is enough for me to get bothered, compute my loss, and check the prices almost every minute hoping that they have already recovered.

I guess a newbie should just listen to the stories of people who came earlier if he feels that he is starting to get emotional about the bumpy ride and he will somehow be soothed. In the 10 years of Bitcoin's life, worse events have already happened.

Price bump/pump is all what we wanted to see all this years that passed by.Who else doesnt wanna profit on bitcoin?all of us do wants to profit.
I believe that bitcoin will be beating its record again maybe next year im trusting it so im hodling my curent bitcoin funds and bought some for stocking.

A lot of people are new in crypto, and they are simply not used to such changes. Those who have been around for a while — and especially in early 2018 — know that what you had said is true. Although, I agree that it is necessary for new traders and investors to be educated on the volatility and sudden changes, simply to help them avoid making bad decisions.

Its exactly the new investors who are the ones that start to sell their bitcoins when the see the price slumping, they are in it just to make profits in the short term and they have no long term agenda in their plans whatsoever. Its quite unfortunate but that's the current norm and there's nothing to be done.

Despite the previous proof of the bitcoin market people will still be eager/panic sell their holding when they see the market is experiencing downtrend simultaneously because 95% of most crypto investors and traders are not patient and don't know maybe they don't totally believe in the wonderful potential of bitcoin been a game changer .

Panic sellers and panic buyers are really existing. We've been experienced long bearish time last year and yet, they aren't used to it. Seems true that they forgot how we've manage to wait long since last year until january so why worry now? Weve been waiting for the bump, yeah. Whoelse don't, right?

There is bulls coming around the corner. It bounce back at $8,400 and waiting to break the resistance at $8,600. Anyway, there are unexpected scenarios. Too early to be happy.

It will break that number, I am sure, and I believe that will happen. Hold on tight your bitcoin and buy as much as you can if you believe too. Don't listen to people who want you to sell your bitcoin. We hope that the price will increase and break $12,000 before January 2020 so in the next month in 2020, we only see the rise of bitcoin again. Be patient and don't panic if you see the price is going down because that will be a good moment to buy more bitcoin.

I find it really difficult to know that such short sighted people don't even understand the basic fact that the price of any coin can never go in a single direction.
It has to change the way and at times even go in the opposite direction but then that's how it should move. That's exactly how it increases in the long run.
Bitcoin too has to go down at times so that it can boost in price in the long run.

i would call them "forgetful" not "short sighted" because most of them seem to have forgotten that we had a very similar situation not so long ago this very year. and it is more common that you'd think. drops like this, out of nowhere without anybody ever predicting them (don't confuse those who always call for a drop as predictors). and there are certain people who always react the same way with panic as if it is the end!

Really no need to call anyone shortsighted. I just think a vast majority of these people are either new to the system, or they unaware of the fact that bitcoin is unpredictable and can move anyhow, depending on how the winds blow. Truth is, I believe that there would be a oump soon, but how soon? We can't exactly say for sure, but everyone should brace themselves up for that moment.

Emotions and panic are mostly the result of people using borrowed money to trade or invest, or they use their savings and go all in. In that regard, it's not really a surprise that they aren't comfortable seeing the market turn against them.

If you only allocate like 5-10% of your net worth to trading or investing, and don't go all in immediately but use smaller fractions for each position, then this market's fluctuations will turn out to be more endurable, because your losses are very small.

Preferably, people shouldn't even consider trading or investing without understanding how this market works on a TA level. A lot of the more recent movements were just a matter of time to happen and could have been prepared for weeks before. Combine that with strategically placed stops to prevent severe losses and you won't suffer much if the market turns against you.

New people don't know how they should react related to the situations. And that only makes them panic when they see something happen in out of their expectation and I don't think they are ready for the next thing that will happen. I believe the pump will come soon, but as you said, we don't know the right time for that. And only with the preparation, we can see that time so that we can sell bitcoin at the very highest price. But those people will not see this because they will buy when the price is starting to rise, and they will be too late to buy.

bitcoin is mostly unpredictable and there are certain movements in the market which you can never predict even if you suspect they might have a tiny chance of happening. for example the recent drop of this size was completely unexpected. there simply was no reason for such a big drop to take place. and no amount of TA could show that to you.

Yes and that is why a sudden increase in the price is also not out of the question.  ;)  We should just embrace the volatile nature of this technology and make the best of the opportunities that are on offer, before it presents it self.  ;)

People are too focused on the "drop" in the price, where they should shift their focus to the possibility that there might be a "spike" in the price. We should go into a preparation mode, like Doomsday Preppers are preparing for a catastrophe and hoard as much bitcoins as possible for the opposite to happen. <Bitcoin going to the Moon>  ;D

I have heard of at least one poster who said that he is not surprised with the recent unexpected price drop. But I doubt if he made the necessary arrangements before it took place. I highly doubt if he sold his BTC, or even half of it, even if he foresaw that upcoming catastrophe. Why? Because TAs do not just give us a single and certain path. TAs give us ideas of the possibilities, which roughly means going down or going up. While he believed that there is really a chance that the price will fall, he also believed that it could not happen at all and the prices will move on the opposite direction. Now, that is spelled uncertainty just the same. 

The starting message is encouraging. Indeed, the price of Bitcoin is very volatile and the current fall in prices may simply be a correction in connection with the growth you described. I think that Bitcoin still has potential for growth, do not forget about the upcoming halving of the reward for the mined block, and so on. It makes sense to buy Bitcoin in such falls, on those funds that a person spends for investment and which it is not a pity to lose.

At this point anyone who is still holding Bitcoin understands the corrections in price that will occur and are emotionally stable enough not to be overwhelmed by the large price dips that are bound to happen. I think that we could definitely see a bump in price within the following few months, but then again, we really don't know what is going to happen with the oncoming global recession which will most likely have a serious impact on Bitcoin.

I would definitely say that this a good time to invest into Bitcoin with the large price reduction we saw in the previous few weeks, and holding it would be the best option.

Everyone will panic if there is another price bump again, because no one will know
exactly when it happened. But we must be able to control our emotions if it really happens again.
That there we must always have a plan if the price is going up or down. Indeed in the world of crypto
full of surprises. Like it or not, we have to be able to make the right decision.

Actually there is nothing to worry about investors and senior traders have often
experience events both prices suddenly go down or up. I'm sure there are no problems. That is necessary
preparation is for newbie to the crypto world. They must learn a lot and prepare a strong mentality.

We are expecting that bitcoin will go higher before the year ended. We are hoping also that bull run may come. There are so many news now everyday that actually could affect the price. But we need to be prepared also , that maybe it could not be happen, it can be have a dump again , market is unpredictable but we are hoping for the best.

interesting what do you mean by "but I would rather be prepared"?  taking into account first part of your message, where you've stated that all price move of bitcoin were unexpected for majority of people, so there is the question, how will you prepare for it?
I think myself that the good idea is just be patient and do not make sudden moves. I mean if there is sudden price change no need to buy or sell bitcoin. Wait to see the whole picture. and if you see the whole market moves in one direction - follow it

you've heard one, i've heard many expect this drop. but the thing is, the same people are always expecting drops at all times. it is like those crazy people with signs saying "The End is Nigh", and we know that even a broken clock is correct twice a day. so i wouldn't really read too much in what a lot of them are saying specially those without a prior history that come out suddenly talking about drops, they always have another old burnt account that makes them start fresh with a new one.

The Bitcoin market performance is still in average dominating for this year so i suggest that we should not lose our hope and keep the faith that it will bounce back h8gh soon. Bitcoin was in this difficult situation for so many times before and still survived therefore we should not miss this opportunity that the price is much cheaper again.

Reminders like this is always needed since people here are merely affected by continue dumping so boosting them is one good effort to help the community so stay stronger

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About the question..?yes I am ready for the next Pump and I am surely confident about the amount I will be gathering since I have been ready for almost a year now