Bitcoin Forum

I mean I had my fair share of bumps in the head when it comes to holding cryptos...  But really, right when you think it's gonna be ok, a dump happens.  It's like the trading gods are saying:  'Nah-aaaahh'.  :D

Each and every crypto holders and investors were much happy with the price increase that took place recently taking the price above $6800. All of the sudden the happiness has got washed off from every user as the price decline has begun in a very small time period. Such price pump and dump is good for traders, but here that too is highly difficult if there no time available between buying and selling.

By now I am used to it and does not worry much because we have seen how it has reached 18k from so low price in last quarter of the year and from their till this level it has huge falls and rise as well. So it is just a matter of time when at the same pace it will rise as well and move to 10k +.

Yeah it's tough times at the moment.
Every time you think there is some silver lining on the horizon, your hope gets shettered.
It's a total patience game at the moment. The ones who end frustrated and selling now or even a bit lower (5k or so), however will regret it in 12-24 months.
Sometimes it's good just to take a few days from crypto at the moment.

By the "trading gods" you mean the crypto whales,right?Yes,I`m pretty sure that they are watching the markets and laughing.Perhaps we should pray to the "trading gods" in order to get a more persistent price growth,but I can`t see who is going to fund that price growth.The newbies and new crypto enthusiasts are gone.The crypto "gold rush" is over.

Same shit happens to those who calmly waited and being frustrated by this dumpers. At first I thought the market this days are slowly recovering and I am wrong with that assumption. Are this a late reaction from the hacking incidents on bithumb, I don’t think so.

Now waiting game is restart and trying elevate myself patience into the next level.

Bitcoin price will bullish run after all this decreases sooner.

yes, the pope's gods are relaxing and laughing at amateur merchants like us haha
but, although now is the most difficult period for traders and small investors, I think the bull will soon be knocked on his heart and soon come to the market. I am sure the market will be green and return to normal.

I agree with you, that at this moment we should do with a last and calm, with any prices that occur except when experiencing an increase, because now when we calm down and find out more than the economic and treading we are actually more fortunate because we know crypto earlier than anyone else, and the experience now will be the record of all crypto participants worldwide to be more patient and calm. as a result we are not alone everyone feels the same, remain calm and successful for us all

THIS! I feel yaah.

You know what? it's gonna be okay.  :-\

Bitcoin is still on $6k mark so there's no need to worry. Where's the dump? no there's no dump, it's still fine, we're fine.  :-\

Putting my hopes until December.

One thing, if you want to be a hodler, don't look at the price every day ;)

It seems to me that those who hoped to do nothing and live all the time due to the increase in bitcoin prices this year got a cold shower. Bitcoin is a currency that you need to be able to earn. I hope now will be less willing to hold coins in the wallet. They will get a movement and we will see the use of bitcoin in trading. This will bring more benefits than speculation.

To the point where the dump that happened again is much worse than the previous one. We all be like "Oh shit! here we go again" ;D. I've experienced a lot of this and to be honest, I'm not that sensitive about the price anymore, I'm used to this now. Just trust in your investments like you did in the first place. Everyone is going though some shits with their investments and it is only up to us how to handle each of them.

You are right,  But peoples are always expecting a profit not a loss so day by day they will check the market. But next year we will get good results in crypto market. So we should keep holding for long run we will earn profit. But traders always monitoring in crypto market so it is affected in all the peoples.

That.

I no longer bother to check the price. All my 'price updates' happen when I browse through news sites. In other words, if I don't browse through news sites I won't even know what the price is.

The price doesn't even matter when I buy my monthly or bi-weekly Bitcoins with a fixed amount of money as part of my accumulation process. Dollar cost averaging will make sure I end up doing well anyway.

I can somewhat understand why people get upset about the price going lower, but there is no need to exaggerate the situation. The current range of $6000-$7000 is obvious and pretty firm.

The market will only panic when we dip below the $6000 mark.

I maintain my negative view of BTC price, until we can see mass adoption of crypto-currencies

The decline may last till next year. Since so many BTC believers have this deep-rooted belief that the BTC price will spike towards the end of this year, the BTC winter is coming and will teach the zealots a hard lesson.

My advice, if you have BTC then HODL. But if you have alot of BTC then perhaps its time to laddering-sell.

If you looking to buy / long, then don't do it. Time is not right yet.

Can't see the bump, 1 btc still 1 btc on my book

In that case the first next bottom to be tested hovers around $5500 which will turn out to be a great short term dip to buy. If that one doesn't hold either, the next dip to buy is $5000 but let's first see how $6000 copes with the pressure. I am still confident that it will hold despite it only requires one dump to break it instantly.

If it breaks, we can be sure of the fact that the demand has decreased to such degree, that those playing the markets don't have any problems shaking it up or down with minimum resources.

$6150 at the time of writing.

"BUY THE DIP GUYS!"

"THIS IS THE BOTTOM GUYS!"

"WE ARE ENTERING A NEW BULL MARKET!"

So, how did that work out? LOL

Here's a quick fact. People in the real world don't want your fantasy imaginary money that can be hacked at any moment and offers no privacy whatsoever.

Haha yeah, it's weird. Bitcoin had another leg down despite the good news(?) coming out from Mt.Gox bankruptcy proceedings.
https://www.coindesk.com/mt-gox-crypto-bitcoin-exchange-creditors-win/
No more Bitcoin sell-off and a big win for creditors, why does the market react negatively to this?

Edit: Oh turns out there's a bad news coming at the same time, also from Japan https://cointelegraph.com/news/japan-hits-6-more-crypto-exchanges-with-business-improvement-orders

Small bulls and big bears are in the market now. It is hard to keep holding in this market state.

The cryptos market can be surprising. Everything can happen in 24 hours. I am not going to panic in my basement because there is a 10% down in the market. When you survived to 40% down you can survive to anything lol.
With the summer holidays, I wonder what we will get

I think this is what they call sort of a "dead cat bounce", and the bump we just saw that took the price up to $68XX was just that, a bump in an otherwise downward trend.  It's crazy, because I woke up and looked at bitcoin and we're now at $6181.  That's one hell of a drop in less than a day.

Luckily I'm not an active trader and don't own that much bitcoin.  And this is the main reason why--volatility and unpredictability.  But I imagine there are traders getting their asses handed to them left and right.  Hopefully (lol) bitcoin won't go much lower.  I have my fingers and toes crossed.

Why is it hard? It costs zero effort to adjust your mind and accept the market we're in. I have said it before, the thing with crypto is that regardless of how much the price has gone down, it will go down far lower if the momentum is there. Momentum works in both up and down direction -- last year we experienced the up direction and this year we're going down. Peaks were no peaks because the price kept going higher and currently bottoms are no bottoms because the price keeps going down more. There is little room left for backup at this point -- $5999 means we're going down way lower....

By this time and after all what happened in these past 6 months i guess such dips doesn't surprise me anymore and have become a sort of a ritual that happens each week . I have had a talk with a friend when btc was dropping to 13k and i told him we should stop looking at charts and numbers if it goes down to 9k and stop all trading activity , and that's what i have been doing to avoid the mini heart attacks all the time ..

i think someone is definitely controlling the price otherwise it will not swing like this. even someone wants to dump a big amount ..... why don't they auction it?

my theory is that this dip that we are seeing in the past couple of hours is a testing of the buy supports and possibly there are some bear whales that are trying to see if they can do one final push down on the market and get their way. will they be successful? i give it a 20% chance.

i also think that the altcoin dumps, specifically the Ethereum panic dump that has started recently because of the new ICO bans is causing a lot of money to exit the market and we all know it always runs away through bitcoin and crashes its price.

I have my eyes crossed too, in case that helps :D. But seriously if you are in this game you gotta be able to stomach this kind of stuff day in and day out. I too was shocked to see Bitcoin near 6k today upon waking up, as things seemed so bright yesterday. But alas I don't care about intraday swings and focus more on the long term. As long as Bitcoin doesn't zero out, I say let's keep playing.

Well yeah, people are controlling it. People and no one else that is why it is so beautiful. If people are not interested as much at the moment, the price goes down and it is fair enough, let the weak hands get rid of it.

It is sad to see another  market crash.one wonders when it will all end

What bothers me is that I spend few hours now here and on IRC and on Reddit but could no find any reason why. Usually with 10% price decreases there is some reason. A resnoble or not. but still a reason. Now I dont see anyone shouting it. I guess I will have to dig deeper to find.

I was open to some bearish scenarios, but I really didn't expect to be teetering just above $6,000 so quickly. Brutal dumps today.

If it came to it, I figured we'd reverse off a retest of the lows, simply due to mean reversion if nothing else. It's been a long time since we had any sizeable bounce.

Still looking for that bounce here but.... both the 1-day and 1-week also look like they could run. Drip drip. :-\

It's so much better to trade and not care about this crashes, in fact they are useful and profitable for traders. I see people here usually only hold and they get really nervous and scared when the market falls. You guys are either using money that you can't afford to lose or you are holding for too long for no reason.

There it goes again, right when you're thinking it's 'OK'...  Now I'm thinking there's some early 'hodler' (Draper?) selling it down or it could also be one of the early ICO's (the Vitalik Group?).  Whoever it is (or they are), he (they) sucks.  I hope they run out of BTC to sell asap.  ;D

Same scenario as what happened today,from $6,800 last night and now dump to $6,300 again and this is the frustrating from those who believe we can break $7,000 atlast ,and i believe this will happen again and again until the end of year,and December is the final destination if we will become rich or more poorer

The mighty kwuckduck is here in one of his multiple alt accoints. This is always a bullish sign, puts a smile into my face seeing the ducks come back into the lake when there are dips. Just be ready to buy if we keep dipping, simple as that. Kwuckducks are going to be kwukducking no matter what. When we go to to a new ATH the ducks will disappear again and wait for the next ducking season.

Either we get past $7k soon or we'll dip, ideally $3k bottom to go all in.

I think that a very underestimated point of Bitcoin going down is that altcoin whales might indeed be cashing out. If we look at all the available altcoin markets, and then directly the liquidity offered, it's extremely poor. The only way to cash out without tanking their own market down (and lose value) is to sell to Bitcoin and then cash out in fiat. It's impossible for any whale to keep a large chunk of his gains in something that will lose the majority of its value later on. Bitcoin will always be subject to the negative consequences of altcoins, because even when you don't need to buy Bitcoin anymore to enter the altcoin market, you need it to cash out because of its liquidity.

yeah....whenever you are going to open coimarketcap you will get a new shock. I don't what is happening in the market. From last 8 days everyone was little bit hopeful that market is going towards 7000$ but today suddenly it took even more deep turn. Now it is really testing patience of crypto investors

Could be a bear trap... If we continue downwards and breach $6k again then I'd say we are definitely still in a bear market and will continue to move downwards. Really the only thing we can do is wait and see, but I am quite disappointed in this drop today. Maybe we are just having one final dip before the official reversal happens? A guy can hope, right?  :D

I'm thinking the same way. We haven't reach $7k yet the price goes down again a few hundred dollars. I thought we're going to see $7k before a fall. Pretty sure man, some people are in panic again with this few hundred of bucks that has been decreased in price.

Hah!  Right when I decided to cash out some BTC to fiat, the trading gods decided to pump it.  Lmao.  But still think another dump is just around the corner tho.  The trading gods are leveling us.

Countdown!  Dump in three...  two...  ;D

No trading gods, just risk-averse traders. They pumped on the 12h MACD crossing, and in the process also crossed the 24h MACD into positive (barely).
While 3d and 1w MACD are still negative, there's a good chance the weekly PSAR will flip to bullish soon.

it seems that many are convinced by the end of the year.
then I will also come to believe that if the bitcoin december will pump.
can not wait. ;D

Well...  BTC is holding it so far.  And the funny thing is it's the alts that are being dumped (for BTC).  We could see BTC recover first and then that recovery could trickle down to some alts?  What do you think?

It will surely not go according to your liking bitcoin or cryptocurrency holders have a tendency to lose hope regarding this things and there are many chances that have been wasted because of the uncertain things that have gone the wrong way, Definitely this is frustrating and I have so much trouble regarding this, Because I have experience it myself and I guess all in the community had the same issues like us but regarding this I really think there are many good things happen even if the chances are against you, Well if you had many Altcoin that you are holding that are down right now keep on holding it you may never know what can happen Even if ten of it are crashing there are an odd that one of them will surely increase and make you a worth holder.

Everyone knows that bitcoin price is unpredictable.But at this time,when everyone expected that market would recover and enter into bullish trend it started to fall again which was a little bit disappointing.

That's what greedy turns out to be. The moment we want to sell our coins higher than our  expectations, it will go the other way around. Seems imperfect but this is how cryptocurrency world plays. We have to dance it's movements.

We cannot blame them just they dump some coins. Not only this time bitcoin is down, we still have hope for the following months, who knows this coming next year bitcoin will rise again.

I think one reason for that is a lot of people are too eager to sell in profit or even at break even point. Being too long in a bear market, they probably find it hard to believe that a positive run can be sustained, hence they sell at every opportunity, which also affects btc's positive run.

Weekly PSAR flipped to bullish today. But it's into overbought now, so I expect a minor ABC correction, buy when it will exit from oversold in the 6h time frame.

all investors are certainly very happy dengang current market conditions, bitcoin has begun to rise again.
and many perceptions say that by the end of 2018 the bitcoin will reach 50K.

People are indeed converting alts to BTC, but they'll move back to alts real hard when the SEC yet again decides to block an ETF. Maybe that Bitcoin tanking will make altcoins pump hard, we don't know. I don't take anything for granted here with how noobs prefer altcoins over Bitcoin. The SEC can literally make or break the short term market for Bitcoin, and this isn't a good position to be in. I sincerely hope that they will not let their anti crypto sentiment become the main reason for the ETF to be blocked, but maybe that's wishful thinking. We'll see what happens....

...   Aaaand here we are again.  Back to 6000 USD.  I swear some really old guy at the top is pushing the crypto doom switch and maniacally laughing while doing it. 

And shouldn't alts taking advantage of a 'weak' BTC and try and gain more market share?

I really do not like it when you have your hopes high, and then life strikes you with unfairness. Added to that, bitcoin is having another bump, and I thought it was going to rise. I just do not get it. When will bitcoin be stable? I mean, will it increase even bit by bit and not decrease again? There are many holders who are still patient and have high expectations on bitcoin. I do not blame them or us. I really hope to see what we experienced last year.

Or there are people who don't believe that BTC will go incredibly high, so when it gets to $8000 or so, that it's the time to sell. Buying at $6000 and selling at $8000 is a big chunk of profit.


Bitcoin will be stable when people are buying and selling it at a value determined by fundamentals. When you have people buying and selling  for speculation, then it's guaranteed that the price will be unstable.

I don't think that's 'unfair'. That's what investment is all about.

The bear had given the market a full blooded trend and it's a headache to us who had waited for a market recovery. A small ups will ended in a bigger dips. It's a crazy market.

We are back in the green at least at this moment. Perhaps the trading Gods wanted us to feel the wrath because a lot of us gains tons of money last December so its payback time.  ;D. Seriously though, we might continue to struggle up to the end of year because the bears doesn't want to "give up" its position. Might take some time for alts to take advantage of the situation because speculators are not ready to pour their cash, not at situation wherein another bull trap is likely to happen.

There it is again!  Right at the very moment of thinking 'BTC solid at 7k USD, we're ok now'.  Lmao.  The next hour I checked the chart, my jaw dropped.  I'm pretty pretty sure somebody out there is trolling us...

By thinking that everything is 'ok' you're basically trolling yourself.

The main difference between traders and people here is that traders go with the flow of the downtrend, while people here go against the downtrend. If there is one thing you should never do, then it's going against the downtrend during a bear market. It's pretty much you asking for problems, and that will lose you a lot money in case you try to make some money out of it.

I have never really been a TA fan, but when the average people aren't trading, and thus not subjecting the market to their lunacy based on greed and fear, the market becomes TA applicable enough to actually profit from it.

In fact they are useful and profitable for traders. I see people here usually only hold and they get really nervous and scared when the market falls. You guys are either using money that you can't afford to lose or you are holding for too long for no reason.

There is probably a lot of people here that ''diversified'' and bought 15-20 different coins and now when they lose 20-30% in 1 day, they panic. They also don't want to sell because it's a hassle to sell 20 different coins, transfer them to bitcoin and eventually transfer them to fiat/tether. A trader of course does not care what the market does, clearly a lot of people are profiting from this downtrend.

''but when the average people aren't trading'' Between here and reddit we probably don't even account for 1% of the trading volume anyways.

We will have to get used to this because while many are predicting a big recovery by the end of the year I simply do not see it, you have some options since it seems you are long term holder then selling is not an option for you, but buying can be very profitable if you can keep those coins until the market recovers.

The last option is that you keep holding your coins, it is not the most exciting of all the options because it basically means that you should do nothing for years but looking at the market and how it's moving and the recent correction that were seen in the market then it makes sense to just take the boring path and keep holding your coins no matter what.

...  Aaand the party pooper strikes again.  Selling the already weak market down like an assh*le.  And isn't the cyclic (monthly?) sell down connected to some BTC futures expiry?  Can somebody explain the dynamics of why that is?  Is this one of them?

maybe the hack attack on ethereum classic made the price of bitcoin to drop.thats the only reason i know for now.

I don't think so if Bitcoin will have futures expiry, no one can explain the dynamics because that is crypto (Bitcoin) moves, a fluctuation.
We don't know the possible happen, so go with the flow if what market it is. I think there's no problem if you do that then do panic selling through your weak hand holder that whales make laugh. You can patiently wait if you want to profit.

The more we expect the bull run to happen, the more it is not happening. The market is really tricky, I can say that we as a traders are hodling our coins because we are really stucked up with these long bear. We should just wait for the halving event as it will affect the btc's price. Hopefully.

The whole situation looks like users are trying to push the market towards bull run but it can't be pushed and it's not functioning according to our desires. So for now bull run stays in the domain of wishful thinking and reality is much different. As for now don't make too big plans for the future and go with the flow, that is the best you can do.