Bitcoin Forum

Yesterday, Coinrail, a south Korean trading platform, suffered a cyber intrusion that caused bitcoin prices to fall. And the decline was the highest in three months. (about 50 percent).

For me, Cryptocurrency is an amazing thing, which has changed so quickly that we can only make a rough guess by K chart analysis.

https://twitter.com/Coinrail_Korea/status/1005650529773486080 (https://twitter.com/Coinrail_Korea/status/1005650529773486080)

Bitcoin has a strong short position and it is aiming to push prices down to a low of $6,000 in February 2018. As you can see from the picture, the bitcoin bearish signal is still strong.
Within a week or two, bitcoin prices could fall below $6,000, and over the next 48 hours the BTC could bounce back slightly to $7,000 to $7240, before falling further.

Only if the daily closing price is above the 10MA (at $7500) can the bearish be stopped.

https://cdn-images-1.medium.com/max/1400/1*_imsHEcoajsc_tK8z4fzeQ.png
Disclaimer: This article is not meant to constitute trading/investment advice. Please use extreme caution when trading any cryptocurrency.


If you have different opinions, you can reply after reading.
Welcome to join our Telegram Group and discuss together.

Telegram Group
https://t.me/CRYPTO_EVEREST (https://t.me/CRYPTO_EVEREST)

Twitter
https://twitter.com/CRYPTO_EVEREST (https://twitter.com/CRYPTO_EVEREST)

https://cdn-images-1.medium.com/max/600/1*_jFTlp3DrOG6E3vWnQ8fJQ.jpeg

This is second time Bitcoin will fall below $6000. Gold and Silver stored in vaults are more safer investments than a computer generated asset which can be hacked/stolen online.

It is not easy to carry 10 kilos. Whereas electronic transfer/hacking just needs a button.

Multiple unwanted events and dumps is what caused the decline of bitcoin's price. But take note that bitcoin is volatile so you are right. If bitcoin can decline in a short period of time then it can spring back in a short period of time.
Sadly i read about what happened in south korea. Ughh i was about to withdraw and before withdrawing i was shocked with the price so i decided to HODL

Tone Vays is calling for a draw back to $4500 range. I’m sceptical it will go that far. I think most people are sheep and they follow the lead of whatever “authority” deems itself to be in charge of their thinking.
Oh, hey! We’re government and we’re gonna regulate... blah blah blah.
The “authority” knows it’s over. It’s in its decline and we need to do more to wake people up. Crypto is the platform for a new global society. Unregulated, free market cooperative.
We need to ignore the fud and walk the new path we are creating without being influenced by an archaic and evil enslavement system.
It’s awesome how irrelevant banks and governments are once you take control of your own money supply.

Nothing to happen with bitcoin everything will be okay . Don't be hopeless dear bro .

Seeing at hystory of BTC, it is characterized by cycle of rise and dump in price. Right now we are in a dump phase, with a price pretty high anyway. The 20000 reach in January isn't a reference value in my opinion, because its reached in the peak of an investment bubble.

Definitely right, this is the trend of bitcoin for so many years and yet a lot of people are still scared. Don't panic even you heard a lot of negative news about cryptocurrency because bitcoin will bounce and make people more happy again. This is not forever dump, a technology like this will deserve to be on top.

Looks like they love ICO's more that bitcoin.
Too many money that is invested within it and I think that is also one factor of a slow dump of bitcoin.

They want faster profits and they want it for a cheaper price. ICO's are their way now. I bet a larger percentage of bitcoin investors have already withdrawn for it.

what's going on with bitcoin ?, i'll keep it quiet until that time will prove. there is no point in getting disappointed with the current bitcoin prices. what matters is how we continue to survive to love bitcoin as the world's No.1 digital currency

Nothing special happening the same old days Bitcoin with   low price at mid year then triple on end year. Being dissapointed with the current price won't do anything I more say its a chance to buy in low.

It's likely because bitcoin and crypto awareness swelled during that 2017 pump where you hear bitcoin all over the news when it was breaking ath on a consistent basis. Many people haven't experienced yet drastic declines in value that has been happening ever since.

The crash of Bitcoin has little to do with Coinrail in my humble opinion. Coinrail is not a big platform. The crash is happening because the trend has been down since January, and I believe the trend will be down until the end of the year.
Don't sell now though, because there will be bumps again, just to try to make money by trading. It's not that difficult to do lately because trends are quite easy to forecast. Best of luck.

The hack at Coinrail is very annoying and happened at exactly the wrong time. Crypto is already bleeding and these hackers and trying to run it into the ground. Can hackers lay off a bit until the markets have recovered!

 The conrail attack is another evidence that blockchain technology has not grow into a level of absolute maturity. The platform can't avoid incident like this as it continues to grow likewise the effect on the market generally. Bitcoin will bounce back, and when it does, those that fail to take the advantage of this price dip will rue their decision. 

Bitcoin is at a great danger and it is a serious matter to be discussed. I hope bitcoin can recover and will able to solve the problem in no time.

I don't agree with you. In order to protect the exchange from hacking does not need a lot of resources. You just have to want to. I'm sure the exchanges themselves are to blame for their assets being stolen. Perhaps some employees of the exchange or their managers are involved in this. Over time, there will be exchanges that value their reputation. It takes time for that to happen. This business is still very young.

there's nothing to scare bitcoin is rolling sometimes they up sometimes they down.You are just surprised at the sudden increase,so bitcoin likes to be surprised us.so nothing to worry,dont loose hope everythings gonna be good.What you should do is trust bitcoin

Just take as reference the entire forum, you will clearly see that it is full of FUD and that is the main reason of why everything is being  dumped now..

Bitcorn is shit now.  Total shit.  Damn think is broken.

I am quite calm by facing this situation. Although this is a very sharp price decline. But I can not possibly sell in a situation like this, just get a big loss if I sell it right now. So basically, I want you to hold Bitcoin in the present situation.

I want to share with you my latest discovery - HelloGold. It is foundation which goals are both heavily vested in blockchain technology and focused on expanding the availability of products that are targeted at helping the underserved and unbanked. Moreover, they have really good conditions for people who joined to Airdrops.io on Telegram and Twitter - you can receive 150 HGT tokens. I did it and it is great! Anyways, good luck with your investments :) If you want, you can learn more #HelloGoldFoundation

There is no need to be too surprised that the latest news from the Korean stock exchange, as we all know, is that every year the stock exchange is invaded. It is necessary to place your coins in your wallet instead of on the exchange.

Tether is fucking us at the moment because we are knowing the real truth about it, that is the main reason of why a lot of people are leaving bitcoin because of it

The fact that's it's not easy to carry 10 kilos is precisely one of the reasons Bitcoin has overtaken silver and is aiming to overtake gold in this asset class. Having the rarity and the ability to send the total value to anyone in a quick single transaction is a massive advantage in utility. And when it's properly secure, it's ultra secure.

That little hack has not trigger anything at all, because we had much bigger hacks on major exchanges and the price has not

been influenced like this back then. The hack was directed at a bunch of Alt coins and no bitcoins was lost.  ???  I think some

manipulation was going on and when the SEC got involved to investigate these rumours of manipulation, these guys pulled

their coins from the exchanges and stopped manipulating the price.  ::) ???

I think bitcoin takes its best position from which it will grow, it's like boring a borehole, it meant we try to depth, but when we spread it we swing it in full

According to me the valuation in deflation you are seeing is not as it is looking. Bitcoin being volatile crypto currency, its valuation keeps on flactuating and I guess only the valuation of bitcoin undergoes such frequent flactuation but the picture is not that dirty as it seems to be because if we look at the average valuation like for an year then we can easily see that it is quite stable and there is very less flactuation in the valuation for an average and by the way the flactuation in valuation is very common in all investment.

This is not forever pouring, a technology like this will deserve to be headed.

When we invest  somewhere that doesn't mean that we will get profit the very next day.We have to show patience.At present we all know that bitcoin value is very low and it is showing no improvement, but that does not mean that it is going to end or its value will not increase.We are prepared enough for such ups and downs.At this time we should stay calm.People are very disturbed with the market value of BTC  and they are selling them at very low rate.We should not get confused at this time.Just believe in bitcoin, it will do a comeback soon.

this includes a very long consolidation of bitcoin this year, if I look technically, it is not impossible that bitcoin will drop to the price of $ 3000 but it needs some retest which will be the decisive point of this bitcoin price, one of them at the price of $ 5600

yes, exchange crypto coinrail has been hacked, coinrail exchange suffered a loss of $ 40 million. the source is the ICO token. NPXS tokens that experienced the biggest losses.

and this accident will make the longer correction. and bitcoin will also be difficult to rise again.

This is a sad truth that this event have really caused and uproar on the btc market that leads to a panic selling by the traders, bitcoin holders. We can see the value of bitcoin went down as low as 6200 last week but luckily it went back to 6700 this day. Though we are hoping for a bullish move but the Mt. Gox is planning to sell their 160k bitcoin by September and this is really a worrying announcement.

It is true that as of now bitcoin movements is not good because day by day it's decreasing to it's value but I think this situation is only normal things to happen and what the system is. For sure in the next few days it will perform much better again and it will continuously give us benefits that we hoping and wanted to have.

I think it is dood day to all. Bitcoin escaped from the flat, making a jump to ~6800, while upwards signals started to appear a few hours before this jump. Let us analyze further possible movements. 1) At the 4H time frame: After touching the upper bands of channels (BB, KC, DC) - bitcoin tends to confirm and prolong its growth. Though, we should not forget about possible test down of middle line of channels ~6600 (low probability). If to look at MAs analysis, then bitcoin slowed the growth near SMA/EMA60 - and now might take possible back-test down to EMA50 ~6650 or deeper to SMA50 ~6550. This is confirmed by TIs: CCI=153 (negative trend), %R=-34, except DMI=27 (+DI > -DI). Positive signal: EMA6> EMA9> EMA12> EMA26.

Growing pains. Nothing unusual. All currencies experience this. Nothing to worry about. Just think of it as an opportunity to acquire more. Buy low, remember!?

Bitcoin can go to $0 because Bitcoin is creating money from thin air.

The information you give me is just one of the many causes of bitcoin discount. I'm a bitcoin person. I bought bitcoin a lot of times. Prices range from 8k to 9k. But at the current price I have lost a lot

+1, and we can see now that bitcoin price is getting up on it.
everything will go back to normal and we will see it again to go beyond 10,000 USD!
and more that 20K USD before the year ends.

Tether fucked everyone.  It will blow up very soon and Tether will go to zero leaving many people with nothing.  What a shame that such a scam has destroyed fair trading in Bitcoin.  The result is sure to be very bad for a long time.  I don't think it can recover. 

Get ready to lose a lot more.  A fucking lot more.  Bitcoin/Tether is about to crash due to scam of $2.6Billion. 

The problem is that huge amounts of Bitcoin is in the hands of young investors (mostly in their teens or 20s), who are very susceptible to panic selling. So events such as exchange hacks can bring down the prices by 10% or more in a single day.

Nothing wrong dont be panic just look at the previous graph i hope you will be clear . Before last couple of month ago btc  touch the 6 k price so i am not panic in this price i am stay hold my btc and try to invest again btc .

Thanks for the info. Yes, now is the time when you need to carefully buy or sell this or that crypto currency. With Bitcoin is going on incomprehensible. I hope soon bitcoin will return to the path of increase.

Nothing to worry, bitcoin will recover its value very soon. It is also fact that in 2018 bitcoin has to suffer so many times due to some different reasons; banning bitcoin by social media was a major reason but we can’t say crypto going to die.

As of now bitcoin value are continuously dropped that cause of panicking of many investors. But knowing the flow of the system I must say that we don't need to worried and panic because I believed that this is only a normal part of it's circulations or movements and sooner or later it will be bouncing back again.

Bitcoin price in the market still not too stable because it is falling from 6700 to 6500 in less then 2 hours now.
But usually after the falling, it will bounce back with a higher price.

The correction of bitcoin is often like that, and other altcoins as well.

whether the factor of the increasing number of ICO bitcoin also decreased so that many new coin that appear in cryptocurrency that could be the existence of bitcoin increasingly does not spin in the trading of digital currency?

In my opinion we shouldn't sell now though, because there will be bumps again, just to try to make money by trading

I think it's normal now for bitcoin now to drastically drop it's price, the smart traders can make a huge profit from it in the future because they look at the situation right now as an opportunity, so if you already had a bitcoin just don't sell it just hold much better if you gonna do some accumulations, if you don't do that the smart traders can make a huge profit from your lost.

Welcome to the world of cryptocurrency where money is being played and scammers are crawling all over the place.

I think there is nothing happen with bitcoin. Bitcoin price down and up its a natural in cryptomarket and its happen to others coin too. Many negative news about bitcoin and crypto because its growing market and some peoples with power want to take advantages on this market.
Better believe on this market and dont be panic with negative news in market

I think this is normal in crypto currency because up and down is common now all coin is down so this is the right time to buy bitcoin

These sudden big negative news can really affect the prices. The fact that prices declined by 50% due to this means that charts will not be reliable either.

$200 change in $6700 is nothing. it is just 2% and when we are talking about bitcoin price changes anything that is below 10% is just normal market movements that sometimes is caused by a tiny sell or buy because the market is small and the order books are thin specially these days that the manipulation has scared many investors into holding their fiat and waiting outside of the market for it to end before the re-invest.

No one can predict what will happen to the price of bitcoin. But surely, the price of the bitcoin will rise again. Just wait for the right time for it to happen. It may not be next month, but I belief it will. Let's see before the end of the year or early next year. Remember that investment in bitcoin does not guarantee short term return of investment because it may takes long term. Just believe and hold.

In my opinion, Bitcoin may drop to $ 3,000.
At present, the price of Bitcoin fluctuate quite large, you should consider when deciding to invest!
Good luck!

It’s not the first time we see it,so nothing to worry about.Bitcoin’s history is repeating rise and fall phase,and currently it’s in a fall,so it’s just to stay patient and wait for price growing up again.

The cycle or movements of bitcoin are normally like this which is ups and downs. The long run of downtrend maybe consider as a part of it's cycle and maybe it's preparing to pump for the next few days so nothing to be worried about. However, for a long time of bitcoin existence we known that in any situation like this is considered nothing because bitcoin itself always proved to us that it can handle it's movements and it never be goes to it's end.

LOL haha, over the long-term bitcoin's return will atleast 4x return over stocks.....hahha even POST crash price of $6,600 represents 15x return more than stocks this past 1yr.

But, do you want to know a secret of how to manipulate Bitcoin price downwards?

Just get a few partner companies to hold custody of more and more bitcoin, especially other people's bitcoin who is not expected to withdraw real coin. You then can then manipulate bitcoin price bids/demand. Today, you see many examples where users are keeping their Bitcoin in exchanges or services (which not only exposes them to hacks but) they do not allow users transfer ability of the actual Bitcoin.
Examples of threats:
Traded Bitcoin Futures (cash settled and they dont give bitcoin delivery!)
Revolut
Square Cash App
Circle Invest App
Robinhood
Many other 'custody' examples in developing countries
hack.
Stay away from putting in $ without taking personal delivery of actual bitcoin and secure/safely backup your own Bitcoin in your own wallet.
A bigger supply can be used to flood market for short selling supply if there's any degree of certainty of an amount of bitcoin that wont be touched at these custodial entities. Ever wonder how Gold and other commodity prices are manipulated?

Never trust another person or company or exchange with your bitcoin. see mt. gox, cryptsy, shutdown China-exchanges, many other scams.

Don't lose hope, we know the bitcoin value now is down, but it is not the end of the world. Bitcoin value is unpredictable we don't know what happen tomorrow when it down or up and I know in every investment this is normal to happen so we need is more patient to wait and calm and everything will be okay.

Bitcoin price value is unstable its up and down but this is normal in every investment have risk and challenges to face off it is part of the economy experiences this but never lose hope cause bitcoin will be recovered from all challenges and give us big profits in our investment.

Everywhere you go (even outside the crypto space, in the real world), there are always a corresponding risks exist.
 
What you said is like a normal thing here in crypto space, if you dont know how to ride, you'll fall, if you dont know how to maximize your security, you'll fall. That is why there are weakhands who are always bothered by the price drops, dips, and corrections. FYI these price movements/volatility are just a simple indications of a healthy market.

Nothing to painful happens because you can see bitcoin history back to back.dumping and pumping is the bitcoin history.bitcoin value not still more got, don't got crazy happend.real time will quickly back just need to wait and also check bitcoin marketcap..

Confirmed death of Bitcoin. If you want to get rid of your coins, you can send them to me for free! You will pay a ridiculously low fee and it still will be confirmed quickly. As a nice side effect these (dead) coins can't be double spent, because there was a guy who was the first to solve this two generals problem and the network is the biggest and the most secure that exists. Too bad it's gone... Is Dogecoin an option?

Don't panic bitcoin will be fine, its just the same last year, bitcoin dumping and pumping but it will go back to the normal price and will continue to increases and give better earnings in the future.

Game of surviving, better to analyze well how things works inside this crypto industry, I can say that if you are a panic investor better not to touch crypto or stay away now, a lots of downfall and uptrend will happen, crypto still young and many people who knows how to take advantage will come and play with the market, so always be prepare and knows your boundaries.

The price moved a step higher with a session top at 6,832.9 but started pulling back again on a 5H Engulfing Bearish candle. This simply restored the neutral bias on 5H (RSI = 49.160, Williams = -50.913, Highs/Lows = 0.000) as the Channel Up is being rejected near the 6,900 Resistance but supported on the 6,500 support. This will most likely create a 6,500 - 6,700 trading range for today. I am still expecting 6,989 and 7,309.30 in succession.

That's exactly what I am talking about, Bitcoin price right now depends (almost) solely on trading analysts, greedy traders. Can we blame them? I don't. But the long term trend is now clearly down, and as you said there should be a bump. I will personally sell at 7500 USD then I am done with Bitcoin I think.

This is the same as the story itself re-landing the constant price with false news

That might be true, but apparently there was some information released today that is supposed to show some third party verifying that they actually have the money in a couple of bank accounts.

Of course them showing this information could be some part of their scam. But it's something at least. I guess we'll see what happens.

I think bitcoin takes its best position from which it will grow, it's like boring a borehole, it meant we try to depth, but when we spread it we swing it in full

It is close to the end of the world.  End of the Bitcoin world.

The price trend is following the same trend early this year up to Month of March, same as of the time people are making negative comments and many were getting depressed afraid and all sorts of negative vibes but it was able to start to recover by month of April until May.  A lot of factors is actually affecting the market of crytocurrency but I believe like all other times it can recover.

Blockchain and cryptocurrency technology is incomprehensible for many people.They hit the topic just because somewhere heard that it's cool and the possibility of quick enrichment.They do not know how it works and how to apply it in the real economy.The crowd inflates the volatility .

Yes its now second time Bitcoin fell below 6000$ but where is the problem ?
One year ago we ware at about 2500$ XD
Bitcoin will allways fell when someon e sells his coins ......stop wondering about sellers :D


regards

Bitcoin has major support at 6000$ zone but in my opinion btc will break that support range.Bitcoin needs correction to grow again.
I think everyone need to be patient and wait for the right time.
Altcoin has  been dumped heavily but now we need to watch bitcoin very closely.

There is no need to be too surprised, that just another bad news which drastically respond to changes in prices, But like always we just need to be patient and wait till the price pump back again

Just keep going, there are no news that will make the price hype, we can all just continue to plan and save until price weren't in good conditions.

Nothing happened to bitcoin. The price is normal and is on the track. People look and waiting for new bump in the price and that’s why they are talking that the price of bitcoin is not increasing because they want huge jump like the previous year. Nobody should be panic about the future of bitcoin and should be optimistic. Gradually the price will increase as the demand for bitcoin increases.

Yeah patient is needed for all investors. Don’t desire for a big bump in the price. I realize that the current situation of the market is red but this situation will not last for long. Soon we will see growth in bitcoin price and those who have lost their money in bitcoin but still hold their coins will recover their money. Just need to be cool and wait for good times to come.

The cryptocurrencies market is not yet secure and a lot need to be done to secure it.  The investors will be afraid if the market and cryptocurrency platforms keep getting attacked by hackers and scam.  Many have lose alot of money through the activities of this people.

Yes, I agree with you. All this is still new thing, and all this has plenty of space to develop, to grow and evolve.

The space is actually growing and developing everyday and as far as I am concerned the idea of security is totally based on each individual. Cryptocurrency is secured as long as you value security and you are knowledgeable enough to know what to do to be able to get yourself secured.

Sure, most of the exchanges in terms of security may not be there yet, but we are absolutely getting close over time. the fact that bitcoin is going down now, is just something that is healthy and normal, and investors will not because of some security when they know how to get fully secured, bail out from the market. Absolutely not!

Bitcoin was created almost a decade ago. Now it is one of the most known investments in the whole world. It is the "new age" investment method for people who are tired of stocks and forex.

Now considering in ONE DECADE, bitcoin went from "some unknown source creating a fake digital money" into "the new investment method of this age", I think worrying about drops like this is futile. Bitcoin is strong with us, we are the ones that makes bitcoin a big deal, we keep it at the spotlight.

Calm down on FUD days and just keep on promoting and making good headlines to your friends and family, the better public awareness we create, the more people will come.

What exactly has made it not secured? There is a total difference between having a secured cryptocurrency and then having some centralized platforms that can easily be hacked and in cases like this; every user should always know that as long as they are putting their funds in a centralized system, the chances of being hacked will always be there. Long term investors know the importance of a cold storage and trust me, as long as you know the value of security, you will know what to always do.

If we can look past 99.9% of forum threads, and also past 90% of news headlines, we will easily realize that everything about Bitcoin and blockchain has been developing at an incredible pace. The network keeps growing stronger, therefore more secure. The users and usage is increasing every day, adoption is increasing, and more businesses and countries are making room for it.

Some day people will realize that hacks and exchange security are nothing to do with Bitcoin.

Topic should be Oh my God, how has Bitcoin stayed so strong all this time?

Yes disappointed with the market as the value fluctuates everytime. There is no stability in BTC as this could lead to bug drawback most of the investors are scared after investing hundreds of dollars. But still have patience and wait for your turn. Guys this is not the end let's believe in this.

I think it's the usual thing, we can see a few years back, There has always been the year in which negative news popping up, such as hackers and others. I think this is just to make bitcoin price fell. a few years back it is exactly, but after that, bitcoin price continued to rise higher.

ico native with ico scam is very difficult to distinguish, they are very similar. only very experienced investors can differentiate, this also causes many ico to fail.

Not all ico's are scam and its actually possible to identify on what is legit and what is not but sometimes even though experienced investors do also make a mistake  by choosing the fake one .


Cryptos are secure because they are somehow anonymous and decentralized . it all only depends on how you handle your crypto and what wallet you use .


experiened investors are already aware with it . they will know what to do to avoid scams and hacking  .  only ico's are mainly know to be risky for now , so the best way to do to be safe is avoid it .

Nothing happened to bitcoin this scams and hacks are normally happens every year. But bitcoin survives. Bitcoin has seen ups and downs and this is not going to affect it's growth. It have reached so high and none would reach its place soon. The mother of crypto currencies is so powerful and much potential now though the growth now has bit decreased.

That's true, many people have lose a lot of money with the doings of the hackers and scammers which I think a good reason to have a regulations about cryptocurrency investment. Although this will depends on the investors if they will have extra care on there investments to make it sure that it's safe from those fraud.

Even though bitcoin has fallen down to 5,000$ it always rise back and even surprise those investors who missed to invest during the dip. Once you will be able to hodl it, then a very good price is waiting for you when the bull run starts.