Bitcoin Forum

This week was a roller coaster. The prices went up and down. Bitcoin price is below $7,000 again (https://www.coinranker.net/cryptocurrency/bitcoin)

Why did the price fluctuate so much lately?

It was to be expected. I am fairly sure that the current market will not change any time soon, especially not when you take into consideration that there isn't anything to go up for without any new developments.

In a market being speculation driven, these developments are decently important to break through current phase. People are used to anything above the $10,000 mark, where current levels feel like a massive throwback in time.

If the market would have reached the $7000 mark for the first ever time today, everyone here would be happy and see it as a major milestone, while right now people feel lost and depressed. Ironic isn't it?

Not to be surprised of since anything could happen into this very unpredictable and volatile market. Price can decrease or increase anytime without our knowledge or awareness.Reasons? Simply investors taking out money for the sake of profits which isnt really surprising or new because it do really works on that way.If you are just new into this market then these kind of questions is mainly being asked but if you are here for quiet sometime you wont really be surprised on how prices moves.

We are drowning in negative market sentiment right now. Everything is caused by the amount of not-so-pleasant news like the ban of crypto-related ads by facebook, twitter and google.
Troubles with adoption - which seems to be halted or even regressing at some places. More countries are trying to fight bitcoin - Venezuela and Afganistan and so on...
Given the situation, it's no wonder that we have not exactly the bearish market right now.

I don't think it's anything to do with FUD.  The price won't rise because people think it's far too much of a risk to buy and then not to sell when the price goes up because it will probably go down again shortly.   People are making money every day by day trading.  So every time somebody puts money in and the price goes up the day traders will take it. 

I knew it. The increase really is literally short-term. Probably the reason has to do with the demand since there's no issues being reported which usually causes the market to fluctuate. But that's just normal and there's really nothing to be worried of. The market dips are temporary and sooner or later recovery will happen. Patience is the key in order to earn huge profit.

No. you are not right. Look at volume of daily trades at coinmarketcap. The volume has dropped significantly since the late last year. If you were right the trade volume would be higher.

Aren't you new here i suppose but this fluctuation is likely to be more normal rather than a massive fallout and that means that someone/something was trying to manipulate the price. It is normal for the price to go up and down due to the people trading each other and that's how market works.

We've not really been that volatile recently. From my point of view, we been hanging around $6-8k for around a month now with bottom currently being at $6.5k. The price rallied up as the bottom was established, but it was a bull trap as I expected.

But why the prices have been falling eer since January this year is quite simply because of the huge rallies from last year ending, hype around bitcoin drying up, and regulations tightening which is causing a panic. This is what happens during a bear market, and it's honestly all quite normal.

Now that it's below $7000 watch the support at $6.5k, if that is broken then there is a possibility that we may be going below $6k in the short term. Also watch for buying opportunities when price dips.

This is called a "bull trap". You think the price is finally going up, but then it bounces back.

It happened several times this year and it is a indication that we are in a bear market.

The problem is to identify the trap and distinguish it from a real FOMO rocket. One way to identify it is the double bottom, when a resistance is tested in the way down and spikes up two times. However, the double bottom was denied, as the price didnt reach the 8k mark.

All wealth evaporating as credit dries up...  all assets sink around the world

I speculate that its either someone big is manipulating the market to increase the price at a certain level and then dump huge amount of coins or investors are really sensitive today that a simple FUD will make them sway and sell their coins because they are afraid that something worst might happen.

So we need to wait again and hope the market price recovers and daily traders stop their activity of selling bitcoin just to get a margin of profit in short amount of time.

Actually I don't know what's happening now. Yesterday we feel happy because the price are beginning to increase but in a few hours the price decrease more than 5%, so confused. how much longer we should wait for the market to recover.

There is not a reason, you need to understand that mostly the price of bitcoin moves because of speculation in the price, so the price is just moving the way does because right now most people are speculating that the price is going to go down, more people are selling because of this and this pushes the price to even lower levels, we need a reason for the price to go up and right now there is none.

Yes, total volume is very less compared to last year so it might take more time to regain its value. Bitcoin price will increase only when the volume is increasing and right now there is no negative news about the market.

Last time bitcoin started to be stable at $6,800 and after pumping to $7,400 it's normal that there will be whales to cash out. And we are near again to weekend, I don't know if there's a curse every weekend that base on what I have read from a strangers observation which I also started to believe. During weekends the price goes down.

The reality is that people are still dumping and we should expect more bearish market till the middle of this month. I read somewhere that mtgox are dumping over 10,000btc this week and I think this might be the major reason why we are seeing this current price dumping.  Hope things recover speedingly as we move close to the middle of the year.

I don't think these latest dumps are happening because of mt. gox or any other third party. Its clear explanation: People lost trust to "get rich quick" scheme of bitcoin imposed by media. They lost patience and left.

 And what's your problem? If you have invested in bitcoin and for long term like 1 or 2 years you should hodl it and keep calm. Let price up, it will happen but will take a long time.

Someone told to me he know cryptocurrency since 2009 and this trend will continue until june. We can see in the month of june hopefuly the price will have trend up again. Yeah we will se that.

I thinks this time it's not about panic selling or whatever they sell, but I think some trader who have target and he have signal for know the price be affected the price went up and down.

It's almost certainly market manipulation. Someone (the whales, as they are usually called here) continuously suppresses the rise by quickly dumping large amounts of coins.

Whales will be satisfied with 4.000 USD, and then - boooooooom!

Maybe. But in reality nobody knows what price can satisfy the whales. Maybe they want $2000...

yes it happens again and it is very sad because many are trapped in the expensive price, this happens because of the many bad news that attack the world of cryptocurrency, but if you have very much capital then this is the right time to buy bitcoin and other coin because now the price still cheap everything.

Bitcoin fluctuates naturally like this, sometimes there is just no explanations as to why it happens.

The bullishness that we've seen only lasted a short while which means that the bear market is still strong and we're not going to see that turn into a bull market any time in the first half of this year, in my opinion. It is indeed a roller coaster to be in this situation, but this is what happens in a bear market. Stuff like this happens when the bull run is over, especially when it is as big as 2017's.

We are entering a buy zone here. Once price drops back down to $6k or less, I think it's time to start filling up bags again.

But most importantly, do not panic sell in this situation. There is literally no point selling this low, unless you need the money for an urgent purchase/emergency.

Bitcoin price is already volatile always as lately it was expected to happen under $7k. We don't know really the accurate reason's of sudden changes of price, but since most of us invest in bitcoin we should expect this to happen. Regarding with this whales they liked to grab this chance to buy btc when in down.

yes bitcoin under $7,000 now and It is approaching to 6000 again,crash of bitcoin was expected Maybe it can happend again and we can see bitcoin under 4000,because the insane rise in prices at the end of 2017 was abnormal . the new investors who bought at high price they must have a little patience

I'm normally of the opinion that all news is in a balance, more or less positive and negative. More or less non impactful on price, since price has historically been moving despite, rather than because of, what the news is telling us. Last year's forking and FUDing amidst ATHs convinced me of this.

But now I'm beginning to wonder if indeed the balance has swung towards the negative. Feel like I'm seeing and hearing "bear" everywhere. And some people I do business with are even off commenting that it's "expensive" business paying me in Bitcoin... Understandably, perhaps, if they bought it at high prices. Not that I complained when 20k was in sight!

Hoping for more uplifting news...

In 2015, the exchange rates had reached a new low of around $200 per coin. The historical peak at that time was $1,231 per coin which was attained in 2013 December. So the prices in 2015 represented a 85% decline from the peak valuation. Going by the same logic, an 85% reduction from the peak in 2017 December ($20,000 per coin) comes to around $3,000 per coin.

I personally think there are a lot of buy orders around $6000 (that is where it dipped to in February).

Then buys the lowest possible point of a price that bitcoin will get, it's pretty normal to witness such manipulation from the whales mostly this period of time where bitcoin is almost thousands of dollars, we talking about the large sum of money per coin compare to older days when the price was a hundred bucks, whales got a serious business with the market manipulation seeing how the market fluctuates pretty bad proves the speculation that they are somewhat involved with this.

I do not think so. The bottom is around $6000. I will buy a lot when the price reaches there. I might sell my other stocks to buy into bitcon or bitcoin cash or even Eth.

4k is already a good point of entry.

There will be a massive bear trap before the price recovers. Until now there is no sign of it.

The bear dream is the three-digit nightmare train. The trap should induce the shorters to keep closing their positions until they get squeezed around the $1,000 area.

They need the bull traps to make a profit, but they will be always shorting, since its not of their nature to hold bitcoin. They dont believe in it, their objective is to accumulate fiat money.

As soon as the bear trap closes, we can resume a upward movement.

Those with spare fiat can take advantage of the moment and buy some.

I sincerely hope you are right.

yes you are right the price has decreased again and unexpectedly it is the same again with the previous ever experienced this possibility because of bad news that attacked the world of cryptocurrency which of course makes bitcoin price collapsed.

It is more like the whole world of trading is just on fire. The Forex, stocks, cryptocurrency just keeps getting beaten. Nevertheless, I feel this is just a matter of time, and we may just have to see how things will be turning out. So far, this bitcoin market is highly manipulated and that is the only theory I can come up with and it just seems the same way some set of people just did not want to value to drop lower last year, then we are seeing the same set not wanting it to go higher.

Recently bitcoin was priced very much because of the information on the network. The state news banned bitcoin and urged people to be aware of bitcoin. Because they think this is a scam, they can lose money unfairly. The reason for this is that the electronic currency has not been accepted by the state and the bank and is considered an official currency.

Whenever we think it's going up now it crashes again. The bullish momentum failed to continue on controlling the market and the market’s bears have been having the upper hand during the trading sessions of the past eight days.

This week in bitcoin managed to cram in more drama than a Mexican telenovela, with major market drama, regulatory drama, and Ponzi drama to name but three. Things started smoothly enough, with our leading story, as Monday broke, addressing the fact that 80% of all bitcoins have now been mined.

Correct,, that’s what I thought the biggest reason about it’s slow recovery that is not like before.. Mt. fox controversy has passed and been denied by the management,, Binance hacking attempt been solved within an instant and social media banning is so irrelevant and less friction as it is advertising continuously..

The investors are disappointed because of lack of knowledge about bitcoin investment.. They do care about the price more today than what is in the future..

What's with this nonstop topic. I've seen a lot of threads that talks about this, Its becoming more redundant as day goes by. We all know that industry is become more volatile unlike before, and I know OP knows it too. I just don't get it why there's a need to set up a new thread with the same topic all over again.

Yes price is always changing very quickly and uncontrollably. Bitcoin does have such properties and it is characteristic of market cryptocurrency. Yet a few days ago, I saw that the price of Bitcoin will experience a positive pressure, it only lasted a moment and now the price declined again. But that means it could happen when the Bitcoin price increases, everything can happen and the Bitcoin price movement will always be difficult to predict. Never will anyone be able to estimate Bitcoin prices, Bitcoin Prices will always change and it all depends on us all the users of Bitcoin. Yes we are going to determine the price of Bitcoin, the more we believe and the more we often use Bitcoin in the financial transactions we have then the possibility of Bitcoin prices will increase.

C'mon guys! prices that fluctuate in early 2018 until now will be over soon. Do not screw up on this stupid issue, the price below $ 7000 is currently not too important for the bitcoin to keep going. this is not a hindrance, we just need to wait for the market to pump the price again, so that the price can return to normal as before. after we can break the $ 10,000 figure later, we will soon leave the bear and downtren market.

There is nothing that can stop bitcoin from increasing in value now because even in the dip, people took keen interest in purchasing bitcoin and they did not stop investing into bitcoin.

Bitcoin has gained more support during this dip from the new investors of the market because they were glad to hold bitcoin at cheap rates. Soon the wait is going to be over for the bitcoiners and they will be seen on the top of the world.

The number of bull traps we just keep having every now and then is just pretty much telling us that the level of manipulation is growing hugely with the bears just wanting to take the price down as much as they want and us just hanging somewhere around. Identifying the trap is quite easy with RSI indicator and that has shown the level of oscillation for me so far to be able to see some divergence as well as the strength at any point in time.

Today again bitcoin prices are falling down from $7000+ price levels. I was thinking about the trend change but it is proven like bitcoin market is still within range-bound.

I think it can be clearly witnessed that the increase or gain in the price is for a very short time and it is going to get back to around $6000 . Not only did i speculate it , it also happened since the market is again down by almost 5% and is hitting almost $6500 .
I don't think that there is a need to be very happy or excited about the market going up for like 4-5 hours . Market is highly unstable right now and the surrounding events are just leading to decline the value . So it is advised that one must stay calm until there is a major hit of $8000 and  it stays at that value for a few days . Until then , getting excited about such shoot ups is just useless .

Well, guys instead of complaining with the price let us do our part as a promoter of bitcoin, if we really believe in it then we should not be worry about its price today, later and tomorrow, don't stress out yourselves nothing will gonna happen, that panic thing will not recover the price.

The problem is that people do not really have the patience to hold for the long term, most people want to obtain profits right now instead of waiting for it, this creates a very chaotic market were people buy and sell in a very rapid fashion, people complain about the volatility of the market not realizing that they are the ones that create the volatility in the first place if they just held there will be no volatility.

You mean people who are in short term trading it seems that they are still getting profit with it and for us long term investor do not mind about that because we know that someday price will go up. But for now market looks steady and ready to rise or down again. Who knows long term trading will gain a lot of profit after all.

With this recent current movement on bitcoins price its indeed making up money for those who make short trades where they do always depend on where do prices go and set out a specific price to get it and sell it once again when it hit up over 7k price again. Rinse and repeat and sure profits for you.Sounds easy to make short trades but would really be hard to do when you are on actual situation.For long term aspect then this thing shouldnt bother you out.

I'm not worried about volatility in the prices of bitcoin. I saw a major trend. The price does not fall below 6500 dollars. It's bottom. I do not know how long it will take to restore bitcoin, but the fact that we are on the way to recovery is for sure. I hope that very soon we will see it and cry on the forum will stop.

Lol. There's been a lot of "bottoms" this year and each time, bitcoin goes below the bottom. I also though last january that it's impossible for btc to go below 10k and i've been proven wrong many times so i've learned to just go with the flow here. Btc will recover no matter how low it goes and that's all i need to know.

There is no safe price on this market right now because everything is possible. I see many dumps and not much pumps this year so I get to used with it, now I just don't care about the current price because I believe in the long run and the future of bitcoin. The price may go deeper but it can survive and climb high again.

How will the market price rise, If today Bitcoin's market offer is very large? There are no volumes of coin purchases that would give the opportunity to raise the price because of interest in Bitcoin.