Bitcoin Forum

So bitcoin is down $3,000 today and it seems to be getting worse.  Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so?  What would you do in a situation like this now or in the future?

It is simple, catch the falling coins and have the patience to hold for a few months, the market will recover and i am sure we have not seen the rally everyone is expecting. There were huge institutional investment that rallied the price and what do you think they will be doing, book the profit and then reinvest again and there is nothing to be surprised here.

First and foremost, take all investment advice posted here as potentially incorrect, including anything I say.  

If you were unfortunate enough to buy at the peak, try not to panic.  Volatility is common.  It's nothing we haven't seen before.  But the honest answer is that no one knows what's going to happen to the price.  Ideally you should have determined your appetite for risk before buying.  If you haven't, make some decisions on where your "red lines" are.  Consider carefully before making any rash decisions.  Sometimes you have to just ride out the dips and hope for the best.  

Bottomline is lack of assurance. If you have invested at a higher market value than its price at this moment, you better hold because partial loss will be permanent from doing so. If there is still profit and you are being hesitant to hold, then sell already than to regret it later if you know to yourself you cannot wait for its price to again increase. It is your investment and you should know what's best for it. Saying or encouraging those people to hold will push them to nowhere. Any investment has risks, so you should make an action you know will be the best. Ofcourse many people would say "Hold and do not panic" because the price is expected to again recover. But what if the price did not? And you'll need to again wait for months or years? So decide in accordance to your vision of this market.

I bought at around the $10,000 mark a few months ago.

That is what I might just do too. I can grab some but will probably wait till I get a sign. It felt like it will just burst up or plunge down anytime.

If I have the money I will likely buy some that had been moving up faster recently like the Aave and XRP for it may just pump up again but will also be ready to dump when it hits the 19k. This is where we can see prices swinging up and down for days. Excitements gone now.

Nothing usual because these things do happen this is why its always been wise for you to make some sell or secure out profits when the price is already on the peak or
when everyone is already been hyped and greedy because thats one of the indications for the market to be already overbought.Clear indications arent might that too obvious
but you can make up some presumptions and that would surely base up into someones experience towards the market.Your guts and intuition will tell you
that this is the right time to sell or the right time to buy.Dont get yourself caught in fomo and always be wise.

Correction is expected after a sudden rise like the one we have seen in the past days. If the price pumps a lot and too fast in a short time period it's almost a certain the inverse will happen next. If people learned something with 2018's events they won't get scared and won't spread fear on the market, that is all we don't need at this moment.
However, if people insist to go this way again, bitcoin tends to get more time to recover itself, what isn't interesting for anyone here. Just keep holding.

it just a brief dip, nothing more than 17% correction so far, $18k supposed to be the lowest support level, but many people triggered by the fud which resulting the whole crypto market went into panic-sell to secure their profits before it's too late. So the main support levels are $16k right now and if this trend still continues, we may see it drop to $15k tomorrow. The market is more mature these days with many institutional investors with the intention for long term investment, so there's no need to panic.

So what? Collect more bitcoin as long as you can and wait again for the right time to sell it. It looks like you didn't sell your bitcoin when it's already ready to harvest your profit. But my advice if you buy bitcoin at a higher price before compared to the price right now, collect more bitcoin at a time like this because it's always happening in bitcoin's price, so don't be afraid to the price of it may go down and think of it as an opportunity to have more bitcoin.

I was really surprised that bitcoin fell so fast. At the moment I think we should wait for the return of Bitcoin. because Bitcoin often goes down and goes up again. we should not be too scared and worried about this time.

Everyone can give you his own version of advice or what to do, but still the best advice would be the one you give to yourself. First, no one can correctly answer your questions, because it all centres on what the future holds and truthfully, no one can predict such; it might be a repeat of 2018 or we might see another wave of growth when bearing in mind the good attention coming towards Bitcoin nowadays.
Also, Bitcoin holders who have been holding for a long time hardly bothers about this, because they are already in profit but if you are not a long term holder, and you are already in profit, then taking your profit now might be a good idea while you wait to enter again. Therefore, in my own opinion, in situations like this, if you invested what you can't afford to lose and already in profit, then take your profit and monitor the market to know the right time to enter again.

We should hope it won't reduce further more.Because some new traders may had brought huge bitcoin to get bulk some profit.If they fail on his first trading, they may move out of trading and it will indirectly affected us. The bitcoun will sustain in the market till their is demand of bitcoin in market.Just holding your bitcoin will be best move for now.

I  strongly believe that we will go back up again. Just part of the up and down movement. A lot are selling off but yeah, this is good opportunity for those who can afford more to increase their portfolio. We are expecting this kind of movement, as price is not always steady increase, somebody or many of them are selling off. But let's see what will happen for another couple of weeks? This year is not yet over remember.

Worse? how long you've seen bitcoin? just this time that it went $19000 or longer? That you have mentioned, always take it as a possibility but I'm still happy to see that it has gone through with this correction. Because bitcoin has to correct for it to show that there's a chance that it'll go higher than the peak that it made. Remember that the year hasn't ended and this correction is still higher than the price since March. I'd still be happy to buy some since it's on sale.

these mini crashes tend to be brief. just hold on and enjoy the roller coaster.

if you're gonna panic, you should have panicked earlier in the $18000s. don't wait and wait and then sell because if you do that, you'll probably be selling near the bottom. i can tell you that from experience. ;)

the market feels a lot like 2016 as we were meandering towards a new all-time high. we had some brutal pullbacks heading into 2017. i don't see this dip as a parallel to the 2018 bear at all. you're thinking too far ahead.

If you're a long term investor then you should not worry because I do believe that there be a time when $20k can buy only a fraction of bitcoin. And if you're a short term investor, I don't think your bought at 19k, so, you should have made your interest in the past few days and should have left the trade or sth. But forget all of these tho, bitcoin is volatile as demonstrated by the $3k down and you have to make your decision by yourself. It has always been a risk.

Look at the price charts in 2017. There was a similar situation. The market cannot keep growing.
This is just an attempt to take money away from the hamsters who bought bitcoin for 19,000 or more :)
Even if the bitcoin price falls by a few thousand more, then nothing terrible will happen. Next we are waiting for a new ATH.

There's only two possible ways on where the price could go neither it could dump or would just tend to rise but circumstances like a dump before going to new ATH then its always plausible to happen.

Lots had presumed that this might be the last pullback before the price would go into its new ATH.Would it really happen? no one knows but theres always a possibility.
Correction or price decrease doesnt really mean that the market cant grow but we cant deny that lots had been dragged to that 19k price and now the big players
had already planned to make some profits.

It all matters on the demand if it would able to withhold this correction and will able to recover.Currently its up again to 17k and if this upward movement again will signify
an another round of bull.

I wouldn't call it a freefall now, freefall is what we had during the initial coronavirus hit, when Bitcoin reached lows no longer thought possible. Right now it already started recovering, which is a good sign, because it can mean that the bullish momentum might still be maintained. Previous bull runs weren't exactly a straight line from X to Y, they had corrections and drops too, and people got really worried at those points, but the price always recovered and kept growing.

As soon as Bitcoin went slightly past $19K and the momentum dropped, I kind of expected a correction to happen. This happens all the time in markets. Now what matters is your strategy and your entry point in the markets

1. Anybody who bought BTC along ago at $3k wouldn't be bothered by the dropped as compared to someone who bought it recently at $10K or $14K

2. If you were in for short term, you should have sold off at as soon as momentum dropped at $19K and waited for the deep, It's obvious there's going to be very strong resistance on Bitcoin's way past $20K because it's a historic level.

3.  If you are in for long term, then there's no need to be bothered at all, $20K will be breached. What matters is, how long patient you are willing to be.

Back then there were a lot of reasons why Bitcoin crash to that low, the community is not yet prepared,d and now and back in 2017 so many things have happened, we don't have DeFi, PayPal is still attacking Cryptocurrency and adoption is still low, but now things are looking good, Bitcoin got the attention of the people and companies and any news about Bitcoin is always big news, so in the next all-time high we are all ready.

yes it will definitely go down maybe it will be $ 23000 then it will drop a few months later or it will be able to bounce even higher, hopefully we get a $ 4-5k moment to buy it ;D

It's already down to $17,300 after it reaches the $18k level, but it will increase again in the next week in the next month. But I am not sure if the price can jump to $23k in the next month because there will be many barriers that bitcoin price needs to break, and it is not easy to do that. This time will be a good time to buy more bitcoin if you want to increase your bitcoin amount, but you don't have to go all-in for all of your money because we don't know if the price will not go down after this. Maybe you can divide your money into three order buy, so when the price is down again, you can buy bitcoin at a lower price. Many people now still buy more bitcoin because they want to make a profit in the next month, but still, be careful if you're going to buy bitcoin now.

No. Not this time.

Although I'm not saying that what happened in 2018 will not happen this time again, I don't think that it will happen this year. I expect for Bitcoin to reach a new ATH again possible December or next year before it go down again or possible too that it will not go down like what happened in 2018.

What will I do? Just accumulate more Bitcoin :D. That is what most of the investors do when Bitcoin is going down right :D.

To get away from this cycle, let us try not to panic and keep hodling even if the price corrects hard. If we are to sell because the price corrects by $3,000 then we are indeed bound to face $5,000 again. This cycle would then not end. We cannot get past $20,000 if we are this emotional about a correction and start panic selling.

2018 was far behind us. Things were very different way back then. This is 2020. And we have many more supporters and hodlers today than in 2018. $5,000 is a thing of the past. If we keep strong hands.

I do not think that it will be like 2018 where it goes down. Look at the price right now, we are hanging on and still trying to go back up, which shows you that we are not done with the bull momentum just yet. Also 2018 had a lot of different stuff that caused the price to fall, I doubt that would happen again.

In 2017 there were tons of companies like steam and amazon and many other places that started to accept bitcoin as payment, and they removed it when it started to fall, which caused a lot of lack of buys, there was bch vs bsv type of war that caused it to go down as well and most importantly there were mt.gox trustee selling 30k+ bitcoins type of situations as well. This year or in the future we do not have those type of situations that could cause it to go down that much that quickly.

Anything is possible when it comes to Bitcoin, but I think you’re pretty confident with your investment given the current price. The fact is that you are not at any loss (currently), and you have the choice to continue to hold or to take quite a nice profit that you have made so far.

As others have said, in the short term we can expect such corrections to happen - this is perfectly normal. In the long run, BTC has always shown that it is profitable, especially in the time after the halving we are currently in. Consequently, next year should be one in which great things happen - but that is only an assumption based on what has been in the past.

For the most part I agree with you, but it should be noted that these few months sometimes turn into few years. At least for those investors who entered at levels close to ATH. However, I think that now there is only a small correction, but the trend remains the same.

Lets wait up for  some weeks or for months before we can able to make up some conclusion.We wouldnt know if this one will be the same just like before but as far it goes where
the price did really stop in 17k level and holding strong at the moment.If the trend do still continue then we might be seeing some ATH soon and you do got the point though that
several months presumptions might really be ending up on more years just like on what happened into those investors who do entered the peak in previous year.
So making up decisions neither to stop loss or would completely tend to hold no matter what.

We shouldn't be so calm and be careless about the situation there are possibility that the history will repeat itself these days remember what happen before where we think that the price will soar for more and those dumps is just correction so from this event maybe it's good to hold our positions and sell to cut loss and buy again to possibly regain again.

Exactly.

It was closer to freefall in April 2013 when it dropped from $266 to $50 in a matter of minutes. Less than 6 months later it was up over a grand.

I could give other examples but I'm too lazy to look up the dates and details. I seem to recall it going from a dime to a penny in a 1 day crash in 2010 and later that year going from almost a dollar to a dime. 4 months later it was over $30.

My first big dip was that April 2013 one. Never flinched or considered selling. Really glad I had the sense to hodl. I knew it was just a matter of time. Luckily it was only half a year that first time and not multi-year like after crashing from $1100 or $19666. By then I was a hodling veteran.


It's almost inevitable. Some day we'll be seeing how long it takes to reach a new ATH after crashing from $400k back down to $80k or whatever.

The important thing is to not sell unnecessarily.

It's because we are still in the bull run, this is just another healthy correction, as you can see, there is no free-falling, just consolidating around the $17k.

2017 is also the year when people discover bitcoin, so there are a lot of emotions initially and fomo and irrational buyers. But as we mature, I don't see any future sell offs or liquidations on a massive level. This is a healthy price correction as investors can buy cheap bitcoin again.

I don't think that people will know what will happen later to bitcoin, but if we see what is happening on the market, the correction still happens, but the chance to go up will still wide open. The price is trying to increase, and even if that is difficult, the price will increase at the right time. The bitcoin price does not yet reach the new ATH, and what we saw yesterday is a new start for bitcoin price to reach the high price. The bitcoin price can make a new ATH for more than $20k, but we never know when it will happen. We can only wait and see.

Typically a newbie question. Can't blame you though.
First thing to do is don't panic and make an assessment whether it's the right time to sell or to hold still.
I'm assuming, before someone enters the cryptocurrency market or buy Bitcoin, he should set a specific target range before selling. Without the target, you might be putting yourself at risk of lossing specially when you're panic selling while Btc is falling down hard.

At this current rate, I don't see Btc going below $15,000. It might bounce back stronger after this short market correction. Extend your patience for a little while.

Currently we are going through bitcoin price correction not a freefall. So there is nothing to worry about a huge price drop now. If you don't need money urgently just hold your investment for few more months. Bitcoin price will have another big run after this correction. I believe that bitcoin price will be more high in future. That's why I like to hold.

Too much exaggeration though, this is not a free fall, if this is considered like that then we should be seeing bitcoin around $10k already. But it's not and the drop stop at $17k. What do to? Nothing, just wait till the market bounce back and not to panic sell.

Maybe the drop really freak out a lot of newbies in the market, but still an incredible year for bitcoin.
So just keep on holding, and for those who missed the boat, right now is your chance, when the price is still at $17k and BTFD.

I will say this over and over again, the old days when Bitcoin fall to the detriment of traders and holders is gone, this current downward moved from Bitcoin just confirmed this and it stand perfect. Barely some days when the said Bitcoin fell below $16,380k and back to $17k+ for this confirmation. We are really close to the global adoption we'll have been clamoring for and nice to see Bitcoin resistance @$16,400+ which is a good start for another bullrun. 

Actually we are not certain whether this is just a correction or a price fall already because no one knows if the market price will recover eventually or the downfall will be continuous for the following days or months. With that being said, the decision is in your hands whether to hold-still or to sell already in order to save your investments. It depends on your market analysis since no one knows what will happen next. If you'll choose to hold, patience is a must because it is impossible to determine when will the price recover. And if you will sell at this point, avoid having regrets once recovery occur in a sudden.

To my great regret, I got out of bitcoin at the level of 12600  :D So now I am calm. In any case, I adhere to the strategy that it is better to save than to miss the profit, so I have no sorrows. At the moment, I do not understand where the market will go, so my capital is diversified and in fact I don't care what happens.

If you have cash sitting on the side you should be buying this correction. That is the only smart thing to do. No this is not 2018, this is the next market cycle, $18k/$19k/$20k is nothing for this market cycle. The main part of the bull run hasn't even begun yet. OP, check out a long term bitcoin chart sometime, you'll notice that bitcoin grows exponentially each market cycle, it doesn't just go up to the old peak and then crash again, if it did Bitcoin would still be at like $20 haha

Correction is in the playbook of trading and it will always happen when the price gets too big. We should not be scared of what is going on right now because it is not something unexpected neither. Plus look at the price movements and you will see that it has already started to recover as well, it is not like it is going down to levels we can't recover from and the bottom has worked very well, support levels are holding and it is bouncing back over it very easily.

All of which says the same thing; bitcoin bull run is not over yet and it will start back up very soon with $20k+ coming along nicely and easier this time around. The other part was harder, we were near $19.2k levels and that was harder to push it higher because we already worked so hard for it, we needed a break and now that we have it, it is going to be easier.

Wait out the unknown is the simple thing to say and hard to do because when isnt BTC an uncertain thing.     Right this moment I'm looking at the chart and I dont estimate here is a place to take judgement, wait till market decides to favor one side or the other and let others take that hard choice.      So my take is we complete the formation, come full circle as it were with price now underneath the ice we fell through if you can get my meaning.   By that I mean we're under the prior trend (https://talkimg.com/images/2023/06/12/ALicT.png) and I personally expect its best to wait for clarity and typically I go with days during working weeks though Bitstamp says today is good volume, Bitfenix is the larger exchange afaik.

The whole sale last week is under some doubt by that same reasoning, its not a normal or full week.   Of course globally we do have alot of national holidays at various times to disrupt but some have more significance in possible influence overall and its fair to say we were due a pullback.   However I presume we do check back on prior prices, 18k level might be that area.

down to $ 3000?, are you kidding?, mate is not 2018 anymore or the beginning of a pandemic,
we have entered a new era, where Bitcoin has mass adoption, several large institutions like Google or Paypal are already using crypto currency,
of course more demand a lot and the holder of the institution is also more, we will see the price of Bitcoin fall in terms of volatility.

When you see a good opportunity while it's falling down, we should quickly response to it. Don't let it go, because every drop is our potential profit to harvest. Don't let the past ruin your capabilities as we move forward on our goals for bitcoin holdings. Every second counts, don't you waste a valuable time which counts on and on.

This is not always a good idea. Trust me. I was around Dec 2017 and basically had a limit order at $10K which filled shortly after it peaked $20K. And from $10K it didn't come close to $20K again that year. And later eventually in the New Year it broke $10K and then you only had a few short hours to sell to get out before Nov 2018 crash to $3K. Most ended up bag holding and sold at either $6K or $3K.

So buying the dip isn't always a good idea. People sell when BTC goes up and buy it back maybe 5% cheaper. Which is great however not great if price eventually reverses. Because then instead of selling at a profit you can end up selling at a loss instead.

We can buy more bitcoin when the price is down because that will help us have the bitcoin at a low price. But some people worry if the price will go down, which makes them not do anything except for watching the price movements. We don't have to force ourselves to buy if we don't get any sign to buy because that can lead us to get another loss. But even if we are losing this time, we can turn it back into profit because the price will increase in the future. Perhaps, you can buy bitcoin in any lower range to reduce your losses if the price is down.

First you are already Wrong of thinking that the Fall will last more than or even the same as 2018.
Bitcoin drops 3k in 1 day but in thee Midnight the value recovered and now almost sitting at %18,000 againd,These scenario is not what Happen in the pick of Bitcoin Bullrunning ''.
Sometimes Understanding the Thread carefully will save us from becoming Noob.

What OP says the price of bitcoin Lose $3000 meaning from $19,000 level It fell down to $16,000 level.

It might happen, the price can drop unexpectedly even it seems we are already in bullish market. Its just shows that we cant certainly predict the next movement of bitcoin because anything is possible to happen, it can soar high further or turns down.

Thus in situation like this always be on the side where you can take advantage the market. Dont be greedy and have a concrete strategy to maximize your profit.

its going back up. just give it time.

Keep calm and continue to buy bitcoin. If the price falls even more, you would be able to buy and drop the DCA and next time bitcoin is over $19k you will be capable of selling it for a lot of profit, if the price starts going back up and this was short moment of fall, you will profit even quicker, there is really nothing you need to question about the situation.

People who do not panic and get involved during the falls are the ones that make a lot of profit. Remember all those institutions who got into bitcoin nearly a billion dollars combined got into bitcoin when everyone was selling. They weren't afraid of getting in and they almost doubled their money because of it, and these are huge companies, you have to start thinking like they do when you are making a decision.

It's a good investment in a deflationary asset, but the problem is that people have a limited amount of free money. Not everyone is free to allocate a certain amount to buy bitcoin every month or two. In addition, there are people who bought bitcoin on credit or just for a short time, and after they needed money they are forced to sell it.

When it comes to be bitcoin; you need to understand that you have to be consistent; anyone that dares to be emotional about bitcoin will lose several $ and not recover from the loosing position. My question is what do you know about bitcoin? that you panic in sight of mere price corrections so easily. Understanding why you are investing in crypto currency and don't lose your guard.

When you do know on what you've been doing then you wont really be stressing out yourself into the possible cases that you might really able to experience.

You should really get yourself prepared into things because price can only have two paths neither on greens or deep reds.You should really get used to it because

if not then you would really be getting that shock and frustration.Drops like this can really happen from time to time that's why we should really be wise on securing
our spot on cheap price and try to accumulate and taking these chances but of course that will vary into your own risk management.

We cannot compare such historical data when there was a big event that completely changed the psychology of the crowd in the Crypto market. Although the year-end days of the crypto market often have a strong sell-off, I don't think this year was.
Bitcoin Halving has taken place and scarcity is getting closer. Besides, fiat money is also in a period of high inflation, so holding Bitcoin is now considered the smartest strategy.
There are so many reasons for Bitcoin to grow, at most Bitcoin only corrects strongly about 4000 - 5000 price units before it breaks the ATH peak in 2021. :)

it's good to hear someone who got out early but isn't regretting it either, kind of surprising around here! I got out a very small amount at $18K and now price trades at $18.2, but I am also ok with this. I still think whether we go to $20K or $25K, we will have a serious retracement either way. Below the current price at least.

Yes, I agree that after we have $20k-$25k, retracement is bound to happened. Bitcoin currently hitting the resistance at $18,500, saw it go as high as $18,700 but then goes down to resistance.

Good though that at least we have someone who still as cool as cucumber even though we have a shakeout recently. Personally, I got around $18k, just few as I need some cash so no regrets at all as I still have some of my holdings. So let's see if we can stay at the resistance, or will it be too much wall in front that we can't get over.

I think this also plays into the healthy psychology of selling a little when high, which is more or less the same as averaging in more when prices are low. After all, if I'm wrong that a correction isn't already underway (I'm still a bit undecided at the moment (https://bitcointalk.org/index.php?topic=5255531.msg55716794#msg55716794), lack of confirmation of bullish or bearish follow through atm) then I'll be happy to still have 96.5% of what I had, that will go up in value. If price corrects back down to $12, $14, $16K or wherever, then I'll be glad that I sold that 3.5% when I did, as I need that cash by end of year.

As for the OP, if this is what users consider free fall, then they haven't seen anything yet. That was just a dip down to the 21 Day MA  :-\ Not even 21 Week MA which is still under $13K right now. The latter being the support MA that Bitcoin always finds support from in bull markets, as well as a history of re-testing regularly enough.

People who are afraid with the free fall a few days ago can breathe freely because now, they can see bitcoin price was back to $18k, and bitcoin have a chance to break another high price. If they still hold their bitcoin from a few days ago, and they can buy more bitcoin, they are making money at this time, and they will have another opportunity to make a big profit in the future when the price increase more than the current price.