Bitcoin Forum

nothing to see

People are selling because they believe the short term momentum is decreasing and they will be able to buy back at lower prices. No one thinks bitcoin is dead. People are not exiting bitcoin.
I wonder when is price going to be low enough that people will start buying back those bitcoins that they sold at higher prices. It's about time ;)

When it has selling flag? At no point of time. Moreover bitcoin is at buying-flag all the times. Yes, buy bitcoins with the money which is not having any immediate commitments. It means buy with hold term plans. So, at this cheaper price levels 200% it must be a very good buying opportunity. Miss it and regret later.

After watching 10 years of glorious run of bitcoins, I believe no one would assume such stupid things. Bitcoin's wild fluctuations makes all its adopters to try "trading" part at least once. This is the reason people are making bitmex kind of shorting support exchanges more famous. Traders are integral part of every commodity, they will buy when most adopters agree at some point and all the traders may able to manage to catch exact reversal points, most traders miss them out.

I haven't saw any significant selling flag and I think the price is pure manipulated by the whales in order to create panic sell so they could accumulate more and cheap prices. For sure its a sign for BUY but is it worth the risk now ? if this goes under 5k$ ? if you're long term then yes. What I'm afraid is that somehow the latest prediction could be true and Bitcoin might go at 5k$ and this will simply make miners to shut down for a period of time extended the drop further more maybe even to 3k$ again so have an eye on hash rate even if for now miners seems to increase the hash rate the rewards are not pleased so lets see what coming days will bring into Bitcoin.

There is no ONLY reason to the price actions of Bitcoin, manipulation is possible, spreading fud and tanking the value further to create opportunities to short the currency.

Also, I do not think big traders act on emotions, rather they act on the emotions of other smaller traders and use that to try and determine the direction the market should take. I have to agree that it's a good time to buy more bitcoins.

You can opt to buy fragments while you're still skeptical for the bottom price. It's always good time to accumulate when the price is dumping and it's always worth the risk when you buy Bitcoin at any figure considered as the good  entry point.
I doubt Bitcoin won't go below $5,000 as retail investors were too optimistic for the upcoming Bitcoin halving effect. Once the price hits that figure people would start buying causing the price to hold above that level.

I would agree that all signs are pointing that we should buy at this price. But I'm sure that there are speculators who is willing to seize the opportunity even more when the price goes to $5850 at least. And this is the best price to buy in my opinion. Anyways, I wouldn't mind entering today, but if I got the chance to buy more at a discount price, I would go that route, just saying.

it doesn't look like a buy flag nor a manipulation because it is indeed a downtrend, currently they are still playing $ 6666.66, whatever is interesting at that price, I enjoy it more when many people throw it away cheaply or there may be other plans implemented prematurely, I don't know. all traders are panicked and emotionally watching the market at the moment, but I always relax and prepare to buy when prices are cheaper  8)

Unfortunately, but this time I am not of the opinion that this is the best time to buy. Of course, if someone wants to buy for a long term, then certainly buying now will not be a bad decision, but I'm afraid that the price drops may last even a month or two.

Me right now. I'm still waiting to see how low it could get. It was actually a great decision of mine to resell when it went to 8.5k, cause I bought it at 8k and seeing that the price has been dropping so bad, time to sell and wait and buy again at a low price. It's a great chance for everyone not gonna lie, only those who bought high and sold low are the ones that are placed in a disadvantageous situation.

Me too, I needed some fiat so I have to sell at around $8500. And that is the good decision on my side. But since we are going hard in the last couple of days, might be a good idea to see how long it can go. I don't want to be negative, but there are TA's that says the price could still go < $6k.

So that is the best opportunity to get in my honest opinion.

It mainly depends on what your plan of investing is, but I'm not seeing much of a buy flag here. I stopped buying until I see the market show signs of reversal.... currently the market has signalled do not catch a falling knife.

For traders there is enough volatility to trade but I'm not a trader so I prefer to calmly wait for the market to look healthier and make some higher local highs. I'm not in a rush to buy because I already have a decent hodl position.

That's the same as to any other value, as long as someone believes and is using what Bitcoin was made for, then it's valuable. It could go to a lower price and could give you more possibilities to claim more. I think this is a good way to increase your holdings in BTC. You will never know when it increases or decreases. What I usually do is do a DCA, averaging my bought price and continue doing it.

Manipulation has been always a rumor, I don't know if there is already evidences to show that it has been done but I don't speculate or consider that to affect me in my decisions. I know what I would do and stick to my strategy.

If someone is not a trader, this is the smartest behavior. Just a week ago, the market seemed to be stable, but now the best way is to stand aside and wait.

Buying bitcoin at this moment its higly risky as it is so volatile at this moment and no one knows if this is the rock bottom or if it might go deep than this, to be safe buy bitcoin when price starts pumping again at that point you are sure that the dump and correction is over. The present price of bitcoin is mainly as a result of the FUD from China of China closing down its local exchange and for now it seems as though the FUD is over so anytime from now BTC might jump

If you really believe that I have some btc to sell you at 9.5k, deal?
Stop with this madness of claiming everything like it's good for bitcoin!
The price goes down because there is more sold than it is bought, the free market which all of you were applauding till today is doing what is design to do, you like it or not!

So all of you, stop with all those threads about not panicking not alpha not beta, buy gamma!
You really sound like a scared pack of raccoons trying to find a hole to hide their asses while claiming they are Rocket R.!

20 topics on the front page about not panicking hodl, buy in less than a half a day!

It's positive that it would undergo a reversal. People generating FUD will never be gone and they will always exist, to either bring the prices further down or just hates the idea behind Bitcoin from the beginning. Nevertheless, price dumps like these are normal part of the market and it is indeed a great time to buy, if you speculate no future dumps by manipulators.

Google searches for bitcoin have started to spike:

https://cointelegraph.com/news/google-searches-for-bitcoin-spike-after-btc-price-hits-6-month-lows

https://s3.cointelegraph.com/storage/uploads/view/a699f07f2993499811492777fd3c5e44.png

Probably because the mainstream media is reporting that bitcoin is at a six month low and people are wondering if this is their chance to get in.

In the past, a spike in google searches for bitcoin was usually followed by a price rise.

I just couldn't resist the temptation of adding more spot to my position below $7000 and that's what I did. I still don't think that we're out of the woods yet, but man, buying Bitcoin at current levels is better than any black friday deal out there. Why buy garbage you don't need anyway while you can buy Bitcoin today.  :D

With the block halving approaching its a no-brainer to start accumulating. Don't go all in but make sure you buy with smaller fractions (10-20% of your balance) per time. If the price drops further lower, you at least have enough fiat ready to keep adding to your position and lower your average entry point.

It is indeed a huge buy Flag and I think this is going to be the last floor price that we are going to experience before the much awaited halving, there is nothing here to cause big panic, because there is no big issues happening why the price is dropping, we share the same thinking that a big whale or group of whales decided to become generous and start selling their shares as an early Christmas gift to those who wants to buy low, and now this is your chance.

Buy, i agree. For who already bought, maybe just be patient. Bitcoin have bigger possibility to back  increased again than we speculate in altcoin with this condition. Or maybe force ourselves to do trading. Maybe more lose that we can possibly get.

Considering money is not technically "out" of crypto market. Look at the altcoin markets right now, there are tons of them moving like crazy and there are ton of green ones as well. The money in the crypto market didn't leave, it just changed places because people are sick and tired of playing on bitcoin world and there are tons of whales and manipulators in the bitcoin world.

So, they moved to altcoins because there are less people that could manipulate it, there are hundreds of coins of value and rich people can't divide their attentions to altcoins, not all of them at least. We have been waiting for an altcoin attack eventually, maybe this is it?

In the end whatever happens I am sure bitcoin will recover and that money which went to altcoins will go back to altcoins in order to get profits realized and that is when price will go up.

And that's almost the 200MA buy flag too, which, as people insist to point out, will always result in a strong bounce... even if it actually hasn't happened today yet despite people saying it has (it went from about 6600 7 hours ago to 7200 now).

So people will probably still take profit around these levels or close to 8k before another dip or two to test that 200MA. And then the bounce will be big, methinks.

of course this a buy flag is certain we have seen a correction far enough ,I think also the price will return to 10,000 this week and will continue to rise before the big celebration for the end of the year well finally there is a sign that is expected during my vacation

And I think those who bought under $7k are wise.

While every negative news that's relative to bitcoin and cryptocurrencies becomes the 'main' reason why the market plummets. -this is the most believed reason and what we're looking for when the market is down.

Well, seems like the market has agreed to the BUY flag. Earlier ago, BTC was sitting around 6.5k and after a few hours at the moment, standing at 7.2k. Just from this we could already see that a lot of people were waiting for the possible bottom line of BTC before starting to buy again, and the result was that it stood at 6.5k before making the people buy once more. The people who bought at 6.5k were quite gutsy and was the one who supported the push for BTC to 7.2k, which is right now.

@SapphireSpire you have summed it up very well because one should always buy bitcoins on the dips, and those who brought today at $6700 levels are already in profits as bitcoins is now trading at $7200 on preev. Also I’m not sure if you’ll noticed or not but many people decided not to sell their coins during this dump, it seems the community has finally understood the need to hodl and hopefully they’ll act smart and buy bitcoins on the dips too.

Seems bitcoin price has rebound or is it? I thought it will drop to $6000, we're more than happy to buy at discount time.
The current drop doesn't make sense considering what is coming next month and next year, but it's eventually a really good opportunity to buy bitcoin at a cheaper rate, so let it be. Don't miss the chance, yes it's the time to place your bet.

whenever bitcoin price is dropping, everyone says it is manipulation but at the same time they don't believe it themselves which is why they panic sell instead of happily buying at that discount they are getting out of pure luck.
there probably are people who see past the manipulation, like OP maybe, but when we look at the market we can see that panic sellers at this point are dominating in numbers and they don't want to see past the manipulation until it is too late and price has recovered.

We cant still say that there were no people who didnt sell off their coins on such levels.Pretty sure that there are still ones who do such thing yet shaking off weak hands is always been a target when theres a price movement some sort of manipulation but the good thing here is that the price hasnt been affected too much.Quite surprised when bitcoins price did dip down until 6700 a few hours ago and it did changes up and go to the same level of 7200+ and above which for those who bought on those dip do really have some instant or few hours hundred of dollars on profits which isnt a bad choice after all.Its a matter of risk though when buying out.

Precisely what I'm arguing for as well.

The fundamentals has not changed a bit. The only thing that has changed are people's volatile emotions, which is obviously irrational given the fact that any recent news regarding China was completely expected in the first place.

Plus, there are signs that $7k support may hold after all, which calls for DCA as a buying strategy right now. As I've said countless times, halving is just around the corner which is what some people are neglecting right now as well, which will be a major bullish factor.

True, but I haven't seen much fud around lately except *after* bitcoin already dropped, which is to be expected. 

Don't have a clue myself as to what's happening in the market, but as usual I'm caught short of funds to buy bitcoin with.  If I had it, I would be buying at $7000 easily.  Bitcoin is a screaming bargain at that price in my opinion, and it was even lower than that in the past 12 hours.

Yes it did, tho not by much.  When I was watching the price last night it was heading toward $6500 and I seriously thought it might be lower than that when I woke up but it wasn't.  Only time will tell whether it'll stay above $7k, but part of me wants it to stay this low until I can come up with some investment capital.  I would be happy if it went up, tho.

The devil's advocate argument is the 2020 halving is already priced in. Some people believe that's what the rally to $13,800 was all about.

Personally, I'm seeing some early signs of bullish accumulation though. This cluster of hourly volume candles in the $6,700-$7,300 range makes it look like someone is accumulating big time:

https://i.imgur.com/z4AJguR.png

I've been saying for a while the $6,300 area is a real sweet spot, a confluence of supports. We have the OTE 70.5% Fibonacci level, the apex of the 2018 triangle, a super low volume notch/gap to be filled from the May rally. It would be suiting for the market to front run that level and not allow traders to buy it. :P

Either way, I agree with David (https://bitcointalk.org/index.php?topic=5140701.msg53176663#msg53176663) that we're near the bottom.

I think the reason for the sudden drop is not the China exchange crackdown but it just margin and over leveraged traders getting liquidated into a thin order book of bids.

Everybody saw Bitcoin almost touch $20K then when it broke $10K again it got people's attention again. So people loaded up at $10-12K and most likely when it hit $6700 or so their position almost lost half its value. But this is if they didn't use leveraged. The people who used leveraged at like $12K most likely added more at $10K and then at $8K and then at around $6500-7000 their position was either liquidated or they just closed it to end the pain.

This is common in stock market trading also, even stocks like Facebook or Apple have these large drops, people are way over leveraged and just sell to end their pain and shortly after it usually reverses.

Besides this nearing the end of the year, big players take profit taking before closing the year. Then do a buy back after that. I think the decline still continues before 2020

Yes, and will always be. Price changes are highly sensitive in dumping. It is always a good thing in a sense of opportunity to buy loads of bitcoin knowing that bitcoin price may soar in future specially halving is near to come. The only way this wouldn’t be a good thing is if you think Bitcoin is dead, and it is heading down to Ground Zero which is not, and highly impossible to happened.

if you want to buy Bitcoin now it might be potential in the next few days to $ 8000,
although there are some people who also predict that bearish will continue, I still see the movement of bitcoin now,
if you buy at yesterday's support price at $ 6700 maybe you can sell now

If only I have seen that lower than $7k then it would be better.  ;D

Yes, it is a buy flag and it looks like it is going to be staying here for a while until bitcoin buyers will see that it is time.
Don't want them regretting the few hundred bucks for not buying now.
There might be a speedy pump before the end of the year. I am hoping.

I think the price will be sideways for a while around $7k. There is a possibilty it will go up and the other way around.
If you bought bitcoin when the price was around $6600-ish, well it is indeed a buy flag. I mean, if it's really manipulation on the price, there must people behind them that trying to buy at a lower price and then giving another good news to make it bounce back up.

When the price is dropping like a stone is a manipulation, you should definitely buy, everyone screams buy buy buy!
When the price is skyrocketing, everything is perfectly normal, not a soul is saying don't be stupid and sell, this is a fake rise.

When we reached 13k  everyone was saying back to 20k, this is the right price, buy now, fill your pockets. The same guys were after that claiming 10k is the real price, the bottom, then 9k then 8 k.

Whenever I hear people shouting and opening topics about "not panicking" I am 101%sure those are already pissing their pants in fear.

So what, we dropped to 7k, what's the big deal?
We went to 3k last year, why would anyone that is planning on the long term be panicking now?
All this collection of topics shows that 99% of the people here are actually for the small gains and if they don't manage to get 100% in a few months are entirely disappointed.



Oh, so the price could go sideways, up or down.
I think you have covered all the possibilities.

Liver punch! Yeah!
Buy more.

Price is cheaper. Why not? Buy now. There is always a chance that this could be the cheapest that it could be. We don't really know when the pump will happen but I know that it will.
Well, regrets do come at the end. We won't feel it unless it will happen first.
Better not be in that moment or I am going to wreck my computer in madness.  ;D

The fact that the first principle when it comes to bitcoin investment is ... keep buying no matter it gets dropped to the lowest value in 1 year like $3,000 that's a blessing for you! I never feel regret in my life by buying bitcoin even if you bought it at all time high like $20,000! You'll get your profit in the long term as you continue buying more when it gets lower and lower .

You'll still in green line! Believe me , let's take an example:

You bought 0.1 bitcoin worth $2,000 @20,000
Buy more 0.2 bitcoin worth $2,000 @10,000
Buy more 0.5 bitcoin worth $3,500 @7,000
Buy more 1 bitcoin worth $6,500 @6,500

Total invested $14,000 , total bitcoin you have 1.8 bitcoin.

Once it bounce back to $10,000 , your bitcoin worth $18,000 it's +$4,000.
Once it bounce back to $20,000 , your bitcoin worth $36,000 it's +$22,000
Once it hits the new all time high at $100,000 , your bitcoin worth $180,000 it's +$16,600

Thoughts?

It's good analysis but only fit for person who has a lot of patience. We are all here because of the fast growth of BTC price since the beginning and most new BTC holders wants a quick bucks. But your logic is really the only way to regain loss and have profit if you are willing to wait.

its not only about patience but the Trust on your Holdings.

never forget that bitcoin proven already how this can change the trend for a short period of time.

so all in all?whenever we buy bitcoin,there will always a profit if you trust and keep the patience.

Not many people realize this but the old crypto traders or crypto people must be know that this is a whale trap that play with traders emotion, dump and pump with a really short time so people will do panic sell and FOMO.
The whales are getting quick profits from them, but for those who already know this whale strategy this is the best chance that we can take to buy as much as we can and sell it later when the whale game's end

There is no need to panic buy since the value of bitcoin will surely drops and it might hit between the range of 6.7k or 6.9k and we just need a little more patience until it goes down.

And waiting for the price drop and buy while it is cheap is a big profit in the future.

The $7k range is already a good one to buy for traders. Waiting for less than this value may be a waste of time in the short term especially if a bullrun will take place soon

How can a FIAT bank alter BTC price is what I wonder, they are holding dollars and not BTC so only by cooperation of holders of BTC can a mainstream bank gain influence over Bitcoin supply and demand.    So I dont blame the bank but the people who were willing to pass BTC onto others at this price, they had no better use then speculation and when sentiment turns negative then we also get sellers of some sort or another.
   Even people shorting BTC are future buyers in the price and to short properly they must present BTC which means someone lent the BTC to them to sell probably.  

Do you think sentiment has flipped yet?

I'm getting mixed signals from the market. On one hand, the fear is tangible. People are scared, a lot more scared than they were in the $9,000s. We've also reached price levels where most of the overleveraged bulls have been shaken out of the market. The index puts us in "extreme fear." (https://alternative.me/crypto/fear-and-greed-index/)

On the other hand, on Bitfinex, longs have risen considerably the last several days while shorts are stagnant. That's not what I'd expect before a bullish reversal. Bitfinex commitment of traders is not the be-all-end-all of analysis though.......

Willing to wait and a good money management, it's useless when you have a lot of cash but then you are sucks managing your money , well brace yourself to busted it all , I have seen a lot of times when a guy with poor mindset poor skills but has a rich family starting his business, starting his investment with crazy amount of money pouring in it but the result is nothing.
That's the first mistake , greedy won't take you anywhere. You need to stay calm even in your worst moments, the good days will come along with your efforts compounding more coins in your bags.
That's it.

It is definitely a person selling, it doesn't even have to be just one whale, the general consensus is that when bitcoin drops the only reason is people selling, there is nothing else that affects it. Bitcoin never had any issues to begin with, bitcoin was never problematic, it has always been a better version of currency from the first day it was created to now, yet somehow sometimes it drops.

As we can predict the only reason it drops is economic, sometimes it is because it goes too high and people want profits, sometimes it is whales, doesn't matter what the cause is but sometimes there are people selling, if we could somehow stop that, the price would skyrocket. Find the reasons why people sell bitcoin, stop it if you can and you won't even have to sell bitcoin, you will be spending it.

I didn't worry much about those numbers.
All I do is buy whenever I have something extra.

There will always be something good at the end for those who have real patience or those who really supported something up to the end.
Bitcoin is a baby, I am wiling to watch it until it grew to a full grown man.  ;D
This forum is really made for that, right?

It looks like OP was into something with this thread ;)

https://i.imgur.com/7hvB0co.jpg

I'm always bullish when I see manipulation and price drops after insignificant news. Remember when people dumped BTC because Ross got arrested? It meant nothing in the long run but was a great opportunity to buy cheap Bitcoin. It took people a few weeks to get over it and buy everything back, but most of them had to pay premium.

Simply buy portion by portion instead of panic buying, there's no assurance that you already have the cheapest value and the movement is still uncertain. Wise investors will keep chasing those cheap coins and store it inside their wallets. If you can get little by little and allow yourself to accumulate but make sure to aim for long term to avoid panic selling when certain falls happen.