Bitcoin Forum

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

don't know, but i do know that i'm getting very tired of shitcoin....  >:(

Disagree. Some altcoins are gaining an increase in terms of their bitcoin price value so it's not a whole market.

Now for how far this decrease will goes through, no one knows and even I can't speculate what will happened because my only mindset is "all trends are bound to end" whether an uptrend or downtrend. Even with the current happenings today, one move by a big investors can changed the trend so just be ready.

We will just know the exact answer once it happened. If the purpose of the question was for buying purposes, then you can consider buying at current price as long as you understand the risks. On the other hand, if the purpose was to sell, Im not that type of person who minimize losses in terms of bitcoin so I'll keep hodling it.

You don't expect anyone to be able to give the answer to this just like the way several threads on this issue have been responded to. The market is taking a down trend now yes will it go further, yes will it also recover, of course yes but the timing is what I don't see anyone being able to say. What matter is what are you doing with it? Answer this question and you are less bothered about whwn it will recover.

There is a long term uptrend in place since April 2017 and presently trend is at 7850.  I dont think such a long term standing trend would be idly crossed without alot of negative volume.   

Theres no special reason for the sell off right now just impatientance, fear as always.   Im short term bullish just on the basis we recover the 7850 trend and confirm it likely as a bottom.  If it should prove to be a failure of this trend then this confirmation comes later imo

I don't think the price of bitcoin can be decrease more and hit $6000 or not, but I think the price will stay at the $7K level.

I don't see any news could push the price down and I think there is something behind to it. That is why the price is still dropping slowly.

What I see from the live bitcoin chart just few minutes someone sold a large amount of bitcoin and I think the price could decrease more soon.

MT.Gox funds status according to some tracker it's not moving so it means that there is another reason why the price decreasing and maybe there are groups of dumpers is trying to sell their bitcoin to push other holders to panic sell.

Everything happen in bitcoin.But I was totally disagree with this point.If you have idea to buy a bitcoin,now you can buy that.Just check the price is increasing now.Because the price is raised to 7600$ from 7500$.This show the positive impact of bitcoin .If it continues,the price will get back to 8.5k$ by today.

MtGox has likely never even affected the market noticeably. It's just that people make a big deal out of it, where admittedly, I was one of them as well, but that stopped after they obtained enough fiat to cover the debt.

Having enough fiat means that there is no reason why more coins should be sold, and for that reason it's not happening (at least not through exchanges). As always it's the speculation making it more of a problem than it is.

The larger dumps I observe aren't panic dumps, but more well timed dumps coordinated by a group of whales teaming up. In other words, I do believe that there is some manipulation happening right now.

It may have been manipulation on the way up, and now they steer the market back down.

This.
Not the first time we see it and surely not the last. Since about 6 months it is with more evidence we can see some people are really looking to push down the price to get some bitcoins as cheap as possible. Fake news, misunderstood statements, and so on, everything is good to use.
I would say it can also be considered as a good sign if these people are really thinking the price will hit up the sky...

I'd like to think that the whales feel pressed for time, since most people are expecting a rally. I'm curious to see how Wallstreet firms and Iranian banks affect the market.

Bitcoin may hit below $7k again but we must remain positive because this happen so many times this year and yet the price are still soaring. $6 level is a good place to enter the market again so its actually a good opportunity, I still see bitcoin on $20k level again this year.

I'm speechless lol. This isn't really new to us and it's an indication that there are people who are dominating the bitcoin market and I believe with the same thought.
Whoever they are behind this, they started to took profit and we'll just do the same thing of buying again when it's enough for the price to buy back.
Or it may go lower, we don't know.

This is absolutely right most of us want to buy bitcoin again at a lower price thats a reason there so many fake news regarding to bitcoin potential.
According to the chart of bitcoin we expect a continue falling down because the situation are in downtrend so I think the price will stay to $7k level but hoping it will recover as soon as possible.

For me its not just the crypto who has gone down in the last 24 hours and Nasdaq and Dow Jones are just up by less than 1%. So its global and let's not isolate crypto market in general. My opinion about decline, it will be short live and I don't think that will go down below $7K. When everything has settled down in the next 2-3 days, the price could go up again in the $8K level.

Something must have triggered this crypto bloodbath again (manipulation?), but I have a feeling that it will not go on another 72 hours without making a break out run again.

You really cannot predict a bear market like that, we have seen that in 2014 when the price went down drastically and that can happen even now and the market might recover at a later time.

There are many early investors who are having a huge stash of coins who opted the big blocks and it is possible that they are selling off their coins, they could really have a big impact on the price if they plan to sell ten percent of their coins.

Never think in straight lines only, a profit would be far too simple to make if we just moved in an obvious up or down.   Problem is the market whips back on a complacent market as soon it presumes we go down or up.   Way harder is viewing the overall trend without alot of noise.

My guess right this moment is a long term trend up will have to be confirmed at least as a ceiling before we can become more bearish or get this 6000 target downside people are thinking is likely.    I dont see BTC is especially negative but who can tell what all around the globe feel about BTC right now.

Here is a couple of examples below of the trend line sloping upwards and how BTC price reacted to it.    The bottom price in Feb and April, the important note is right now we are below this uptrend.  I believe we will return to $7900 before any great selling

https://i.imgur.com/1jW1Z3J.png  https://i.imgur.com/JvArfh9.png

there are always a bunch of random altcoins that are getting pumped even during a market wide price drop. these are considered exceptions and you can't talk about them as a rule. all the rest of the ~1700 altcoins are getting dumped.
they may show a rise against bitcoin for a couple of minutes during a sharp drop just because of the arbitrage trading bots but it will be fixed soon and they go down against both USD and BTC.

I think that there is going to be a bounce before prices actually settle under $7k, as there is still support to some degree at the $7k level. However, as I've stated before even in the midst of the rally, we're still quite bearish.

With this correction, I do expect us to go down to the former support of $6.8k eventually, potentially even lower before the recovery takes place.

Even though I'm not optimistic in the short term, doesn't mean that it means the same thing for the long term. Long term, I'm still bullish on bitcoin, and this huge fall just means more opportunity to accumulate cheap coins, imho. Do some dollar cost averaging, and buy at regular intervals. You never know when it's going to bottom, no point trying to time it perfectly.

this is what we could manipulations mate not a decline because of some causes which is from 10k to 8k . and the reason behind why the growth rate constantly decreasing it is because of some weak hands that can't control their emotions after the fluctuation which is they are dumping as well to protect their money on it even had loses. So indeed we can't call it declined 'cause it's just a panic selling made by some noobs who always rely on others predictions.  Lol by the way in my view on this bearish the value will not go further and yes perhaps 7k is enough.

Its not new to some people cause some already predicted that bitcoin will drop at 4000$ or even lower,but still the price is  high compared last year when bitcoin is only 1000$.

As compare to the start of 2017 when bitcoin price is below $1000? Yes the current price is like X7 and that's something to cheer about. But the problem is that there are a lot who FOMO and bought bitcoin around the 5 digit mark and they are the first one to bitch around when the price is going down. Well, the price seems to really move down very fast as there are news that regulatory body from USA and Canada are doing a coordinate investigations on ICO, sadly though is has put a lot of pressure on the price that's why it plummeted in the last 24 hours or so. But I believed that there are strong support at $7000 at least, so we not might see it going below that price in the next couple of days.

I do so too. External manipulation doesn't necessarily have to be a bad thing because of how we can take advantage of it as well. It's like they do the work for us, and we just ride the market how it comes. :D

I can definitely understand that people get upset about current market, but that's what they bought themselves into, so it's up to them to conduct proper research before blindly putting money into something.

Concerning the current manipulation, I observed very suspicious activity during massive on-exchange dumps and large short positions on BitMex just before that. If it happens nearly every time, it's no longer coincidence.

It could allow you to do the same, but I am not into that sort of 'luck based' trading. I am not here to book quick gains.

Then its an opportunity to buy cheap bitcoin, im waiting bitcoin to go down deep at 5000$ there i can now buy bitcoin cause that would be last time we will.bitcoin hit that lowest price this year.

I'm hoping that it will stop at $7,000 and won't go further to the bottom ($6,000 - $5,000 and so on).

Big investors won't buy @$9,000 and $8,000 so they have to do something to pull the price down and to get a nice entry point.

I dont like this happening in bitcoins price , my portfolio has been down by almost 50% and im so scared if this continues to go down then its time for me to sell all my holdings.

I think it will bounce back up soon with lowest around ~$7000
if it does break $7000 then probably just a little bit below it, perhaps around ~$6900
then it will recover back up to previous steady price at $8500-$9000

I think it is going down to $6k and once it hits that amount, it might bounce back but I dont know to what amount it will bounce back though.

Manipulation might be right anwser, these massive dumps don't happen at random, either whales got scared about something and began exiting BTC (could be due to the news about the US Government launching a criminal probe into manipulators?), or the whales are simply trying to tank so that more whales can enter the market at low prices, either way, long-term holders are happy for this great opportunity to buy cheap (:

All are think like this but it struggles to move towards 6000$. All week somewhat the market is better, but todays market goes very low. No one expect this much of downlines. Dont know when the market will recover and again the price starts to increase. We can make this opportunity to buy the bitcoin. Because in future the price will reach high at that time we cannt able to buy.  Hope soon it will cross 6000$ lets wait and see what changes is going to happen in the market.

[1]As I grow to the market before I've been always thinking that these manipulations were totally bad but I've come up to that conclusion.(the bolded part).
[2]Everyone only wants bitcoin to fluctuate higher and higher for the profits sake so well, if expectation didn't go according to what they are thinking that's upsetting comes.

Btw, does anyone think that this temporary dip was caused by bitcoin gold's double spend attack?

BTC is currently in a months-long wedge/flag that closes in the next two months. Right now its near the bottom of that wedge so unless Bitcoin really breaks down it is much more likely to go back up to 8000s soon than go back down to 6000.

Yes, I just read that US is launching a criminal probe into bitcoin price manipulation that's why the price reacted in the negative way. Although lately is been a struggle, but with this sort of bad news coming along, its no surprises that the market panic and the domino effect follows. I'm not sure if we are going to $6K again as I'm seeing a nice gain and the price is moving to $7500 range already. Maybe investors saw $7200-$7300 as a bottom and didn't wait for it to go down even further.

Are you in for long term or quick profit? If the latter then you are in the wrong place, getrichquick thinking can make you much poorer than you were before investing. If you are in for the long term, then delete blockfolio/delta or whatever app you're using and don't look at the prices for a few months. So you wouldn't do any emotional decisions. BTC will thrive in long term for sure.

I'm guessing we're going to retest the 6600 levels from February, if it goes further down from there, then nobody knows where it might go. Good time for buying nevertheless.

now all being Being the same boat facing this price decline, it seems the price will continue to decline until the end of May. my opinion, the price will stop in the range of $ 6,800 and will start again to reflect the price to the next level. big rallies will occur in June until the end of 2018.

The decline that occurs briefly and if in thought this is already the 3rd right? does't seem to fall on the value of 6K,this is actually the original growth of BTC if the fall does't further than the previous correction.A good start for market value in ALT should be the time to grow others while BTC is falling and I think this dump is great ;).

Don't know what will be the bottom line of bitcoin. At present the price is staggering around the $7300. Hope this will continue for few days and further the forward move will begin. Price towards $6000 is a good buy and needs the patience to hold and benefit as none knows when the further rise gets ignited.

It's a multi profit way, so from that perspective I really can't blame whales for using BitMEX and other platforms to short trade the market. All the lower side adjustments we are seeing are artificial dumps. If these dumps don't occur, the market will slowly crawl back up, but the whales toying around don't plan to let it recover, so the game continues.

I personally think that there is around 10% of downward potential left, so it might be a good moment to enter, or at least consider to do so. If the bottom development is following its path, then the next bottom is either just over or under the $7000 level. I made a relatively small purchase slightly below $7400 which I am happy with. It might be the last ever chance to buy at such levels, so better utilize it while you still can.

I believe that the price has begun its forward move, because after it going close to the $7000 tag now it has grown above the $7500 which looks good and gives positive impact upon the growth. Another thing is the growth with other altcoins together with bitcoin making the network flourish.

Before speaking about $4000, let's see if market can be pushed down to $6000 and then $5000.
Most of the talk or 'prediction' is just pure fear mongering by some certain people. They probably have opened some serious short positions.
As a bear you try to FUD and make people to sell their coins. More profit for you and a nice entry price to buy in.
As a bull you try peopple to FOMO in to the market. That's in pretty simple terms explained, all you need to know.
Very good traders are also good in playing with other peoples' emotions!

Well that's what people should be focusing right now instead of making negative speculations. I'm quite unconvinced that we're going to hit that low but then if it does happen, might as well buy more. That's what i've been doing all these times

I've been tired of shitcoins for a long time now, not that they ever held any real appeal to me.

As far as if bitcoin is going to keep dropping:  I have a feeling it's not, but my feeling isn't based on any data.  It's just a hunch, and yes it's a pretty damn steep slide we've got going on here.  We're a long-ass way away from bitcoin's ATH, and it's obviously a long road back to it.  As I've said in other threads, however, I do think the bull market that was in progress last year isn't quite over yet. 

There hasn't been any real news lately that I've read, and it could be that sentiment is turning somewhat negative.  It's very hard to tell, but my thought is that bitcoin has been pounded about as hard as it's going to be.  Probably it's a good time to buy.

"invest only what you can afford to lose"  ;)
just hold your coins and don't panic, prices might recover in the next few days.

It happens from time to time, some whale decides to dump, and then the weak hands enter panic mode, I think only difference from the other drops we've had recently was that we were already in a downtrend before the big drop yesterday, and the sell-off was quite substantial. But yeah, it seems like we've recovered a bit, hopefully, the downtrend is over (or at least the massive dumps).

despite what OP and some of the posters in this topic think, just because price has gone down a certain amount so far it doesn't mean it will continue on reaching your desired price.

and this drop was not any logical drop like a correction or anything like that. this has been a lot of manipulations and FUD going into pushing the price down and this type of drop is never predictable and also never lasts long.

this is something normal if we take into consideration that bitcoin is suffering pressure from many governments, then it is expected that there will be a decrease in price


honestly I hope it does not fall below $6000, a drop below $6000 will trigger a big panic


some people become very rich with these shitcoins, unfortunately there are people who do not have feelings, create a coin just to deceive other people and steal money from them, this is something very cruel.

No one can state for sure what will happen with the bitcoin price of course, which at $7.5K currently is down ~25% from it’s high this month of ~ $10K on May 6. My impression though is that there is significant buying suppprt at the $8K level, and I think $7K is likely to be the floor price of this down market we’ve had for 6 months now - and that any drop below that to $6.5 or $6K would only be a short lived thing for less than a day like what happened on Febuary 6.

 there are chances to go back to 6000.  Let's just wait and see if the bitcoin price goes to the Moon soon in this month as we again see this correction after a month.  At times this can be a push to next peak.  Every altcoin is well are on blood path.  Though it's nature of crypto, investors look for time to gain profit as well.  Hope to see a hike soon.

June might be a good start of green days, we hope to see a brighter days for crypto since it making too slow in progress of having ATH. we should have more patience till it goes to the moon.

this now bitcoin price 7500 dollar
i think bitcoin price still above 7000 dollar
but if bitcoin price down to 6000 dollar, because price can down again to 5k dollar

There is a strong support at 7000 dollars. The fall of the price do not touched the 7000 dollars yet. The fall seems stopped. It will take 3 to 5 days to decide the way, up, or down.

Well right now the market price is more than $75000 and it was more than $8500 a month ago. So there is a rise and fall in the prices of Bitcoin and things look like the rise and fall will keep going for some time until it will boom. SO this is quite possible for Bitcoin to fall again to the $6000 value but it is also possible to Rise to $30000 in future.

It is not going to get down to 6000 dollars in any way because the prices have been stable roughly for a month at least. There is not much chance for bitcoin to go down again because this is the time for the coin to touch the sky and make all supporters jubilant. I am saying that now the market is on recovery track, so no need of worrying about any other big decrease in the values. Just stay optimistic.

I actually do not understand why people are so eager to know what the market brings, when the market will actually give us the answer in its own due time. We cannot say for now how far the market is going to go way down or when it is going to get to bounce back up but one thing for sure is that time will tell. We still have some support that could be broken, and we still have some resistance that would need to be taken out of the way, so, I guess we will have to wait and see how things turn out.

What any wise person would be thinking as an investor anyway. Usually, traders will always have the upper hand always in a volatile market based on their chances of selling when a support is broken quickly and buying way back lower. However, for an investor that may not know how to work out those moments, the best thing is to just hold and look forward to buying more at the dip. We are all traders anyway and it is just the time difference in making trades that differs.

That will be possible if there is a big negative development that make the bitcoin price to go down. The recent hacking of south Korean exchange cause only some minimal dip in bitcoin price and still staying at $6600. Factors like hackings can make a significant dip in bitcoin price if the value of the hacked coins is big. But no one knows exactly when will the bitcoin go down to that price level.

Another topic is talking about the decline of bitcoin. When people stop talking about its decline. For me, it's very normal, because after the boom is a dumpster with a lot of bad stuff.

Bitcoin is very peculiar. There are too few factors that can strongly influence him, my opinion. Yes, there are some negative points that move the course a little. But so far, I don't see anything terrible that could finally drop the course.

If this pattern follows, price might fall below $6000 and can dump to the $5k levels. But lately, price isn't really following the technical analysis. But technical analysis is showing a bear reversal which will stop at $5200. If price from here gains a volume to breach $6850, we will see a bullish reversal, else we are heading in deep bearish zone. But price manipulation is so high that nothing can be said with certainty.

Now the price of bitcoin is reduced to 6170$,this is the one of the lowest value reach by bitcoin.The main reason for the fall is hacking of million of dollars.It occur in this week and many new investors start to sell their bitcoin due to this news.They may got panic and sell due to lack of patience.Patience is the essential only to escape from loss.

That's not true. The reason we are going down now has nothing to do with the Bithumb hack.
We retraced shortly after the hack, that's true. But we also moved up with the Tether announcement just a day later.
Today's down move is just the market, and not news driven in any way. However we had really good news today. I looks like the Mt. Gox trustee doesn't need to sell anymore coins.

With such a price action, Bitcoin might as well touch $5900 before making any recovery. Bears are back in control of the market. Unless the Bitcoin crosses the $6800 threshold which is the new resistance, market is expected to struggle in bear phase. Altcoins are likely to suffer along with Bitcoin. But if Bitcoin falls below $5900, we are going to see some serious damage to altcoin market. Because market runs on trust, but as people are shifting from being a hodler to speculators/short term traders, people are losing trust and this can be serious for the market if it didn't revert it move towards bull cycle.

Right now we are moving towards that direction, bitcoin is barely above it at 6015 dollars for each bitcoin and the price is down another 10% in the last 24 hours, I do not know if the price of bitcoin went even lower than that when I was not looking at the market, but one thing that seems it is going to happen is that the price sooner or later will go even lower than that.

Actually the price reduce further more .There is almost 10% decrease in price in last 24 hours and still going down. May be the market will go up to 5500$ fall,then it will start to increase again.If you are free from depend of money.Hold your bitcoin.This price fluctuation cause negative effect to bitcoin.

Traders are disregarding bitcoins for alternative currency that gives them much profit in a short time than bitcoins which seems to be favorite for only long term holders. I think if care is not taken bitcoins will go down to 5000 USD by July.

Of course,  bitcoin will grow more than we can see on altcoins but isn't get enough to let all our fund into bitcoin alone.  We also take chances of earning from investing potential alts either for short or long term. We know a lot of altcoins today  and it looks like some of them are sleeping dead that's why we should also be careful in buying alts. Not only the price we consider but also it market performance to determine the possibilities of gaining.

There is no reason for every people to sell their coins today because it was dropping, i believe that there is a fud in other country that is spreading and it makes every people to decide on selling their coins and in return, the market is continuously dumping the coins.