Bitcoin Forum

i am newbie and brought some bitcoin recently and sold off with loss in last weeks rally. i invested a little yesterday when it was falling again, but i see its still going down. whats the lowest bitcoin might go to, please advise....

I will go find a Sage and come back in 23327464536 light years to answer your question by then :)

perhaps you should invest in something else if you have such weak hands and always sell your coins with a loss.

The next support line is $3200.

Of course if some of the other Chinese exchanges pop up with a statement that they arn't going anywhere, the price will jump again and investors will assume BTCC is closing for reasons specific to them.

Looking at the market depth at some exchanges, I see a bigger buy orders at 3400$ at the moment.
If it will really hold, we have to wait and see.
It is all depending if we get anymore disturbances through the news.

Somewhere between 0 and 3536 (current price at stamp)
Seriously though it can fall for a while as coins hit exchange - but given that now we know that the Chinese exchanges are definitely being shut how much worse can the news get. ? It's a question now of how many coins need to move west to be sold.

Oh and if you are Chinese and want to sell coins but can't open accounts in the west then send me your bitcoin I promise really I do, to sell them and wire you the proceeds. I promise I will Honest.   <- for non English readers this is sarcasm it means I will keep your coins and you will never see your money.

I don't really understand why the closing of one exchange is such a big deal.

Transfer your funds to another one and keep doing business as usual ...

The downward momentum would get even more heavier the lower the price gets. It's because panic sells induce other panic sells.

But hey, you should've expected this. BTCBTCBTC can't go up forever.

If you've bought at a loss, better lock up that BTCBTCBTC on some paper/hardware wallet somewhere and forget about it for awhile.

Well I hope this serves as a lesson to you now, never panic sell your bitcoins. It will surely get even lower of people like you keep panic selling. Bitcoins are best used for long term investment not short term trading, you should have just left your initial investment for a long time. At least you've now gained more experience.

it does happened again the panic sold even more worst than yesterday but honestly i expect these downtrend will stopped soon but maybe the lowest bitcoin at $3000 or below so i'm still wait to bought several bitcoin from it

Not sure what you mean with this crash but Bitcoin can go under $2000. Not that can go but it will go. That will not happen today or tomorrow, but till the end of year or till end of the next year.
But I am also sure that till then it will visit $4000 again. So lots of great opportunities for you if you are a daytrader.

I think we will HODL $3500
if maximum FUD rolls in with china btc exchange seizures then we will see $3000 or maybe even $2700 but that selling pressure can lift quickly at the drop of a pin.

The important thing is that China's ability to manipulate the market into a frenzy of panic sells will be greatly diminished in the future as they become more restrictive to crypto.  After all if they say no one can buy crypto through online exchanges then they have lost their ability to use that as manipulation.  At that point what do they have left for manipulation?  Flat out banning all crypto, and mining farm seizures?

It all depends on how the Chinese markets will end up recovering. Currently, BTCC has taken a dive all the way to the CNY16,000 mark, which translates into $2450.

I must however point out that this dump has only taken place on BTCC, where OKCoin remained above CNY20,000, and Huobi's lowest point was CNY19,597 ~ pure market madness in China, that's for sure.

Speaking about western exchanges, I don't expect them to fall below the $3000 mark, unless China keeps taking the market down with its own downfall. I see great buying opportunities coming in the next couple of days.

Honestly there is no way to know when this fall will stop and i think as i can seen in bitcoinwisdom if you can see the BTC-e looks like the price is $2,500 level and hope that the price will not fall more on that price..  if ever it will happen people will be sell their bitcoin and lose. .
I think much better for now to watch the price fall and wait for a week and see if what will be the last price of bitcoin . .

Never sell at a loss, you need to have strong hands. The price is manipulated a lot of the time & recovers pretty quickly. Try not to panic, if you're at a loss then buy in if you can.

I think $3500 will hold for now, the buyers will come in and make it go $3800 the coming days. At least that it what I expect.

After BTCCD ceased trading and will close on Sept. 30, Bitcoin dump price, as investors worried and  they selling Bitcoin. It could go down to $ 3200-3400. Wait for the miracle will happen tomorrow, Bitcoin will return $ 4000. Be a smart and consistent investor. You keep it. The law of nature that has risen will have fallen and it will rise again!

After it broke 3800 level now the next level of support is nearby 3300 and 3400 if that is broke then we can see price going below 3000 level. So who ever is having view of long term investment then they can buy but right now traders are to be carefull.

You nailed it. Under current market conditions panic selling will cause the sharp downtrend slope over the next weeks. That's why markets are not controlled with logical actions of participants but mainly emotions create  a deeper effect on charts. For traders volatility is good,but i cant say same thing for cryptocurrency investors.There are good options like to exchange for cheaper rate from dips to but never try to  catch falling knife..

That would be very difficult for anyone here to say with certainty. Can you even say what will happen to you in the future? So predicting what will be the lowest price is impossible. The very best advise to you is to buy more as long as Bitcoin is going down. No one knows when it will stop decreasing and when will it will increase. So just buy more in dips.

Its wrong you have to make plan for your invest. You can't simple buy some btc and sold it. You should need to wait and hold it until it go up. You have to work with market buy it low and sell it high or you'll never make any profit until you make plan. Keep your nerves stable in these times of bitcoin crash and make up your plan on what amount you will sell and at what amount you can buy more.

My guess is between $2200 and $2800.

Chinese exchanges will be offloading till the end of October, so the fall will be slow.

After that it will recover and close the year around $4500, unless western billionaries puts money in it.