Bitcoin Forum

Just saying...

Where will it stop?

We just broke the $2314 bottom of yesterday (by Bitstamp price) so I guess we are going to continue dipping for a while. If you believe in double bottoms, then we'll test $2140. If you don't then we'll go even lower, or retrace and go back up in the middle of this channel. Im hoping it's the former.

Im wondering what is causing this. Could it be Ethereum's big crash having an impact on Bitcoin too? Bitcoin fundamentals should be bullish since we are getting segwit soon, but yeah there's that uncertainty too about miners not actually locking in segwit. I guess this is a shakeout of noobs to get more cheap BTC before the big segwit price rise.

this is actually what i was discussing with some people the other day.
we all know that activation of SegWit means a big rise and a follow up bullish market for a very long time to come.
so this simply means before it activates the only time whales can pick up more cheap coins is now, hence the dumps and shake outs.

it has happened many time before too. just before the $2000 was broken we saw the struggle to go above $1250 before that the dumps and struggle to break $900-$1000 and so on. and each time a dip and a lot of shake out before the big bang.

Yes, my thoughts exactly and you know most newbies fall for this EVERY time. Some of these whales do not even have to dump a lot of coins for

this to happen. They collectively decide to dump a few coins to stimulate a "panic" and then the downward spiral start.... they wait for price to

drop and then they start buying up all these "cheap" coins. Most traders use bots and triggers, so this happens quickly and the profits are huge,

once these Whales starts to buy again.  8)

I don't think anything at all guarantees a big rise. Perhaps segwit is now so expected by everyone that it's already been priced in. It was always going to arrive somehow or other. It's just been stalled relentlessly.

People probably underestimate the effect of an ETH plummet. People will look to escape and a regular route is BTC to dollars.

When all the stop-losses have been picked off, clearing way for a new bull run.

Thank you for agreeing at least as a correction rather than naming as crash. It is not too big nor old, a new down side wave, hopefully may end some where between $2200 to $2300 as these are big support levels and good levels for re-buying hence we can expect another wave renouncing from tonight onward too !

It would have to go down well below $1000 to be a crash. Anything that climbs by so much in a short period of time, is going to have a correction of some type.

After watching for the last few years, i was actually suprised to see it get to 3k before retreating.

It is a great sign.

i think the price could down too deep than now as we can see that many traders have to be panic to see the market and they are selling their bitcoin so fast. i don't know how much the price will be and i think its because many of us is waiting what will happen in august 1 and the panic situations is already happen now.

Last correction didn't make it to sub $2100 levels, where today I expect a similar correction, but the bottom will likely be $2000 as I don't believe there is any intention to dump it below that level. But then again, that's just speculation -- it very well might trigger a few large traders to close their positions, and maybe even trigger stop loss orders that will exaggerate the dump at that moment. I'll buy back some coins at sub $2100 levels, if we happen to go there.

if you are interested you should try to buy bitcoin right now, because i  do not think that there is any chance that the price will come down to 2100$, it is going to start increase from the current position, therefore you should try to start buying bitcoin right now.

Sorry to say but you will not get an answer here. Better just watched it and if you saw it stop then it stopped. All price movements is unpredictable and even all expert traders can give you the exact price where it will stop.

Hug the dip. Don't mind how far it will down but look for long term goals. No way bitcoin price will just move forward without swing. If you can afford to buy, do it.

Noone can predict exact dip and tops. IMO you need to watch price action closely for better observation. Correction is also part of uptrend and never sell before hitting top second time in same year ;)

LOL. The price is currently holding and I think that it go up sooner than we think. It's really hard to predict the price of bitcoin. Past 2 days its been going down but now the price is looking good and will probably hold at $2500. So no worries guy, just continue to hold and the price could go back to $2700 in a few days again.

Nope it didn't, last time I've got a gut feel that something is going to happen and well this is what I meant. The correction is what happened but I don't have an idea that it's quite too early. Anyways, the price is back now at $2,400 and I guess it's the end of the correction or do we need to expect that there's another one?

Is this really a correction going on? I believe that this is just the effect to some people that have fears toward the August first, Segwit activation. They are afraid of the uncertainties on that event that they decide to sell their Bitcoins before the date comes. This will happen to continue as we approach the said date.


Tell me, what is your relations to kwukduck?

It seems started from ethereum price decline, then people speculate ICOs project cash out their funds from ethereum to secure it on cash. Big dump occurred and people panic if didn't get the profits from the highest rate, from there it all started. But, bitcoin dropped back (- $200) as well follow ethereum, yes maybe some people panic sell after whales shake the market, but not sure.
What makes it interesting is after ethereum fall down, all coins follow this trend and many coins drop more than 20%, what a tragic.

I just trade the volatility of the market with a separate coin stash. If it doesn't fall below the $2100 level in the coming days, then it's not a problem at all. I always cash out 10% per time, so if the price is climbing back up to +$2700 levels, I'll just unload another 10%. By cashing out and buying with 10% per time, I basically benefit from each price movement.

Some buyback occuring right now.  we went into the 2200 range but back into the 2500s as I type. Always some relief, I like the decrease a bit to buy at a cheaper price but always exhale once that rise begins again!

bitcoin is in fact giving opportunities to people to invest money in bitcoin at low price , because the price is now start increasing and hope that it is not coming back from that price and hope that it will continue increasing because still there is a lot of potential in the price of bitcoin.

I believe this day will be coming to be real. I'd bought cheap bitcoin yesterday and in some hours later and I got a decent profit. What a good sign for me!! Those are selling on the bottom must try to think for a twice before playing the game in this time.
That's just a correction, Just give a low price for those were not panic to jump in. Thanks for the weak hand.  ::)

same scenario and the winner is the bag holders every newcomers and new traders needs to practice and understand those things that affects the issue
as we all knew that bitcoin will rise up no matter what unless big impacting issue happen but for me buy low and sell high works inside bitcoin investment
good job to you mate for keeping your portfolio wider.

That's why I'm a bagholder virtually for life, I know I will always win out. When the price dips its just opportunity to gather a few extra coins to HODL for the long term. It will be years before I even consider divesting.

It will surely stop and the sad part is this was not a bitcoin drop but was ether drop after rumours started circulating the co founder had died so few big investors decided this is perfect profit and sold their ether. But the part they did wrong was convert to btc and then to fiat which led to fall in price of btc also

What?  We freaking dipped to just about $2300, and that's not bad by any yardstick you use.  Keep things in perspective; we were below $1000 not too many months ago, so these type of corrections are natural and needed.  Nothing for all you girls to get upset about.  There's going to be more of this, so strap in and get a helmet if it makes you feel better.

Bitcoin is up 2% or so from the past 24 hours.

I think that it is probably going to adjust further down before bouncing up. Just my gut feeling right now. The price has not rebounded as furiously as the last few price rebounds, suggesting that there might be further dumps ahead.

Though if you interested in making a quick profit, then buying when the dump does happen would probably be a good idea.

It seems like $2500 is the natural resting place for bitcoin though, and price is always correcting towards this price point. But each time, it'll over correct before adjusting back just like a pendulum.

The price is up now at $2500. I think the crash or dip is already done. Again, its another short live dip. Investors saw the opportunity to buy bitcoin again that's why the price has recovered. I  think we have seen this already once in May and twice already in June. So for those who didn't panic, I guess you are happy to see the price has rebound already.

Yep I think we found our bottom...

I sold a small amount today, 0.1 BTC, when I'd planned to do it yesterday. Real life needs, what can we do, huh? The 24-hour wait seems to have been worth it as I got about $25 more today than I would have yesterday. Big old correction may not be over so quickly, but there's a lot of life left at this mid $2,500 stage.

it seems like market loves $2500+ price so much better than anything else. and it is a pretty nice middle ground price too. it is exactly in the 50% way up to $3000 and has a lot of room to go down in case some whale decided it is time for FUD in a couple of weeks.

A major correction? I doubt that is what this is. The price has always been up and down. Off course, no one knows the future, and predictions based on past performance are often wrong. But the amounts involved now makes losses feel enormous, as bitcoin is valued in the thousands now. The percentages are still the same as when it was valued between $250 and $400. In the future when the price is is around  $20/25k, thousands will be wiped off in few hours due to "corrections".

I wouldn't be so sure of that

Predictions are futile, but it seems that Bitcoin will have to break through plenty of resistance if it decides to go over 2,500 dollars (I look at Bitfinex prices, just in case), and still more so if it goes over 2,700 dollars per coin. That figure seems like today's Bitcoin limit (given the circumstances). On the other hand, there's plenty of room to go down. There would be some support at and around 2,000 dollars, but I don't think that it will last for long if Bitcoin is going to crash for real (so far we haven't yet experienced such a crash)

I think the recent correct was around 400$ and it took suppor near 2300+ range and now it is back to #2600+ price and if the wave continues then tomorrow we can see the price of bitcoin going above 2700+ right now and if the movement support more then surely within 48 hrs we will see the bitcoin price moving above 3000+ price range with full support.

If the past is any guide, I think bitcoin will drop for a third consecutive consolidation within the next few days, probably bottoming out around 2000-2100 range before starting another gradual summertime climb.  Trading in the 2400-2500 range is lala land to get NOOBs to buy in.  ; )  Happy trading all!

Let's see how long $2500 can hold up. It looks to me once this level is broken it may go down easily at the $2000s again.

Recently it broked and went down till $2300 range and then now it bounce back to $2600 range but still it is not able to cross it above that and if it roam around this price for next some days then i think we can see the price moving above $3000 price.

It seems to me that you depend on Bitcoin on the users themselves, because we know that the market reacts to supply and demand. Only in these variants we can see a good correction of the price for Bitcoin.

It just did, I don't think it will go down any further. This is the quiet before the storm that usually happens in the bitcoin prices. You can check out the historical data of bitcoin prices. There is always a point that it goes up pretty quick and drops by 20% then this is the quiet before the storm I was talking about. Currently, it is stabilizing at 2400-2600 levels and it could go up in the next few weeks again.

In a couple of weeks SegWit will be locked and activated shortly after.
So IF there should be more FUD to come, it has to come NOW!
Anything else makes no sense and won't have any major negative effect on the price.
Next time we will see FUD is when it is about the 2x hardfork attempt ( what is 8MB! by the way) by Shilbert Group and Jihan!

Yeah I had observed that too.  It seems BTC loves being around $2500.  It is been in that range for sometime now.   And I also agree  that if whales decided to FUD (which I think they already in the process of FUD'ing Bitcoin market)  the price has a lot of room to go down but lucky there is a counter FUD this coming July which is the recognition of Australia to bitcoin as money.  This event can possibly have a nullifying effect to FUD that is being spread recently to the bitcoin market.

There is several corrective factors. One is that stated by you and apart from that scalability, blocksize, confirmation issues and several things were going on. So this might be a corrective time, because the past price fall itself mentioned to be happening for a correction.

Don't forget China! There is always some sort of China FUD when the whales want to move prices.

Nope, there is no such a thing as correction in crypto, people just are busy pumping alts and they also need Bitcoin to be some what stable to determine the true price of alts in BTC volume, in other words, large whales are at work, just look at the charts they are all like a man with a boner up and green, top gear aiming for the moon's holes. lol
I don't know what is there to correct? you either buy or sell, crypto is not that big yet like traditional markets to have correction, anyways who is supposedly doing the correction? we don't have a central bank.

Somewhere down the road.

I think this is not a typical correction happening. the drops may be caused by some people who panic sell because they are scared about Bitcoin crashing due to the uncertain effect of the activation of Segwit. And include the fact that we are on a bear market. As for the current trend of Bitcoin, it is slowly recovering and I do not know if a drop will occur again. We are approaching Australia since it's only days before their formal acceptance of Bitcoin.

China is no longer the important factor as they were before the regulations that have been put in action by the PBOC.

Chinese fud had a significant impact on the market back then, but right now it won't do much anymore. Right now all people focus on how things will play out before the 1st of August. Everything else is simply not important for now.

In reality, they just fooled everyone into thinking they were really that important to Bitcoin -- it was one big theater show. It was insane how they were trolling the entire markets there with daily volumes of 2-4 million traded coins per exchange (referring to Huobi, OKCoin, BTCChina). I am glad that the market gets dominated by western exchanges again. Thank you PBOC.

Whether it was a show or not, China basically ruled the market with iron fist for quite a long time.

I remember how everything was looking all right just before I went to bed, and as soon as I woke up in the morning, a big fat red candle took the price significantly down again due to certain Chinese related "news".

I agree with that

In fact, this is what I wanted to write myself, namely, that they tricked us into thinking that they were somehow important with their insane volumes. To be honest, this is what I claimed myself back then giving the numbers of their daily trading volumes which had been by far exceeding those of the rest of the pack (Bitstamp, Btc-e, Bitfinex, to name a few). It turned out that their real volumes were a lot less (if not to say orders less). If things were like that with Bitcoin mining, China would be completely out the picture