Bitcoin Forum

Bitcoin briefly fell below $8,000 on Monday as investors scaled back their exposure to cryptocurrenices, after a sell-off in shares of technology and internet companies spilled over into other risky assets.

Full article here https://tech-trending.com/bitcoin-slips-below-8000-as-investors-step-away-from-risk/

The recent rejects from the ETF could be the major reason of the investors to pull out and has caused the price to fall. But the users should remain calm and should be optimistic because the price will rise.

I think the reasons for the investors to to pull their hands out could be some other.
Lets not talk about the price, we should better talk about the technology to get a good picture of the bitcoin performance. Technologically it seems like bitcoin isn't working proper for the purpose it was introduced.
We had forks in the past which failed then we were expecting the lightning network to bring positive changes to bitcoin to ease the users, which failed as well. Now what are the developers doing to make Bitcoin perform better.
In my opinion until the technological issues are not resolved Bitcoin price may not progress or even if it's price go high it will not be capable to maintain that level of price and growth.
There are some other reasons as well that affect the prices but pressure from those could be reduced if Bitcoin get of technological crises.
We should demand for a better technology and not for the price, price will be automatically increase when we will be offered efficient transaction system with low fees.

We don't need Lightning Network at the current situation,because the bitcoin transactions are already fast and cheap.LN will work only when the blockchain is stuck and the transactions become expensive and slow.
"forks in the past which failed"WTF?Are you a bitcoin cash supporter?Off course they failed,they were not better than bitcoin core and their only purpose was pump&dump.

quite the opposite.
a second layer is only working if the first (underlying) layer is working fine. Lightning Network needs bitcoin to work fine meaning to have reasonable on-chain fees and little to no backlog. otherwise if there is a huge backlog like during the 2017 spam attack and fees are huge then you can not use LN either.

still nidacoinlove is talking nonsense though. nothing has failed! he seems to be caught up into some altcoin bag holding scenario.

Notging to be concerned about seeing bitcoin fall below $8,000. I still think we saw the bottom at $5,777 & in the next few months we’ll push towards $10,000 again. Next bull run will start in 2019-2020 so if you’re looking to buy then now is still a good time.

Cheap coins.

i can't make sense of this statement:


so are you trying to say investors pulled out of bitcoin to go into other riskier investments? or is it saying they pulled out of bitcoin because it is risky?
if it is the first then it makes no sense at all! people are never going to do that. bitcoin is risky enough with a good reward for that risk.
if it is the second then it makes even less sense because at this point the risk is minimal and even if they pulled out of bitcoin because of its risk then price should have fallen a lot more.

The failed (hard) forks have nothing at all to do with Bitcoin though so their failures have no bearing in the current situation at all.

The Lightning Network has failed? It's still in beta lmao. Working on making it better is what the developers are currently doing to make Bitcoin perform better, among other things. I understand the frustration and the lack of patience, but they're working on very sensitive, very new technology. It may not even be an exaggeration to say that the Lightning Network is the future of Bitcoin, given the amount of hopes and resources already invested in it, so I'd prefer they take their sweet time with it to get it right.

You're right that better utility will drive prices up organically though. I believe that will just be a matter of time at this point.

Bitcoin has seen regular ups and downs before breaking the 8,000$ resistance last week. This fluctuation in price seems like a normal dip before rising again. Such news reports spread misconception among people for sure. Investors who know the market's nature will never fall for such news.

Believe it or not the price decrease of Bitcoin is more technical in nature rather than anything related in the news as of lately. In the past week or so we saw how Bitcoin had rallied back up above the 8,000$ level, at first we thought that it is all good but what a lot of cautious traders see is a price rally without any volume backing it up which means that the price increase is not healthy and BTC going back below 8,000$ is an inevitable thing to happen.

Right now BTC is at 7,428$ its next support level is around at 7,250$ if it breaks BTC might go down to 6,700$ which is the next known support level, now if Bitcoin is going up or down it is not yet clear as RSI is clearly on the oversold zone pointed upwards which might indicate another price rally taking place soon, BTC is yet again showing some mix signals which gives us yet again two outcomes possible to happen.

I wish people would understand this. Not every movement bitcoin does is because of news. Like, even if we had good news and ETF's were approved, bitcoin wouldn't just skyrocket non-stop. There has to be a point where it consolidates even if it ends up going higher, RSI lvl's were obviously insane, even though they can stay overextended for a while.

no it has nothing to do with anything technical. and it also has nothing to do with "cautious traders". it is all about the hype and it being a fake hype. the rise was about to happen when everyone started making it about ETF then as SEC started to reject them one by one they started losing that hype and selling.

this will also go away and we will be back on track with the rise soon.

LN should be there regardless of how congested the network is.

It only requires one bull run to make people aware of the fact that Bitcoin is a horrible mirco currency. That's why I sincerely hope that we won't be seeing any bull run in the coming 12 or so months. I definitely don't want anyone to go through a similar situation as what happened last year. Is it a good thing that new people buy $100 worth of coins and pay $25 in fees? It's a horrible user experience. People won't forget that, believe me.

Another thing is that it will incentivize big blockers even more to choke the network with rubbish transactions, all to promote how cheap BCash is and how it handles all the network traffic effortlessly.

Bull run? No thank you.

how did you know that ?
lately we heard a lot and right now we are lacking an investor.
peoples are hesitated to join the train because they think it's totally overpriced right now and waiting for it to go down a little bit longer.
it worries me a lot,because i am afraid peoples were setting their entry too low.
do not you think so ?
(even in some places i saw a lot of peoples were expecting it to go down below $1000)

ETF fomo ended and prices will fall more.
There is no action on mtgox side and if they start to sell some bitcoins we will see more price drops.
I hope they will not sell bitcoin and will give back bitcoins to victims of mtgox.

These are not "investors" but speculators.

If you are pulling your money in and out out of an asset given X news, you aren't a damn investor, you are just hoping to make a quick buck.

To qualify as an investor you have to study the fundamentals and have a long term view. Obviously anyone that thinks the SEC decision on this or that ETF or future matters for Bitcoin is clearly not understanding the fundamentals of Bitcoin and not an investor by any means. They are just trying to profit from the ups and downs, that's a trader/speculator.

None of these clickbait articles go beyond the latest USD price.

Another example of how the press like to find whatever they can to explain something. And how they oftentimes fail at doing it because they have no idea about what they report on.

It's the second one from what I can understand. Tech shares were sold off, and so were risky assets, such as bitcoin (as they claim). Bitcoin is often labeled as high risk because it likes to go up quickly.

Honestly, we should stop reading too much into the news. They like to make connections for us that don't make sense if you pause for a moment and think about them.

I think investor don't need to step away. The price of bitcoin will increase again. Its not a matter of concern. Bitcoin is the market leader it also deal with diffrent companies, I think price will more than 8500 in the mid of August. So keep your patience.

I do even believe that most people doesn't even know completely on whats ETF which most people do just ride on the trends by just hearing out and doing Fomo due to speculations of price shootup.It did happen but only a small percentage hike but now we are seeing the support lines again and breaking already previous strong support. Now we are heading back to 6800.
If we do talk about investors between traders or speculators then there would really be a difference on how they do foresaw about crypto.

Old investors still hold belief in bitcoin, nothing to worry about it. Some panic happens over a period of time but it will stabilize very quickly.

 Actually, the market span is a very common thing. Market price keeps bullying or going low. That particularly doesn't mean it has been that high or has fallen completely. The market can be stable even there is a rise and low in the price that depends on the market perspective and speculation. As per speculation, BTC market will see some lows but by the end, it will gain this year.

Bitcoin has seen downs like this before too. I would rather refer to this as a correction and personally, I find nothing to fear as there are few hearings for ETF still lined up that will definitely influence the market positively.

There is always a chance for the price of bitcoins to grow back again at $20k dollars just like what happened last year and it will be depending on the investors in the market so keep on holding your coins today.

And just a couple of days later, it looks like Bitcoin may slip below $7000 as well. You are trying to read too much into the decline. Bitcoin definitely does not move in line with internet companies. If that was the case, Bitcoin's volatility would be a tenth of what it is now. There are many other factors driving Bitcoin's price.

We eventually will break the $20,000 mark but not any time soon. If you look closely at the market trend this year, we consistently have formed lower highs and lower lows, and this will continue till we bottomed for real.

It may very well be that the price hasn't gone up because of ETF speculation, but just because it was the next lower high movement of the longer term downtrend. It seems that the >2013 scenario gains ground with the month.

People need to forget about reaching new highs and start putting some fiat aside to buy lower. I know people don't like to read this, but 2018 isn't the year just like how 2014 wasn't the year after the late 2013 peak.

Bitcoin value now are below 8000 dollars and after 1 weeks experiencing 8k dollars above they already down again.
But better if you if the investor will invest again to the bitcoin because this month it will become 10k dollars more.

Yes, but not for today.

Correct, we shouldn't take a look at that possibility for now. We'll be there for sure, many are looking for that chance that it will break $20,000 soon.
But instead of waiting for that moment, we have to take some action like buying in not with alts but with fiat.

My opinion regarding the withdrawal of shares by investors is common in the world of investment and understandable, but what must be considered is why investors have moved to the cause, whether it is true because of the issue or indeed they move shares to other more profitable fields, my opinion will remain waiting for crypto to get recognition by the government in the countries of the world, hopefully useful and successful for all of us

Right now trading below $7000 levels, I am afraid of seeing again $6000 levels. I read yesterday, some newyork exchange is to list one day settling bitcoin derivatives. But, they will start from this November. I guess after ETF failed to get approved, this listing may restore faith among investors.

Honestly this is not really a bitcoin issue. For now the tech startups and the investments made by the venture capitalist and bubble of new silicon valley companies are going like how the ICO thing worked for us. Every venture capitalist in silicon valley throws money at tech startups hoping they will be the next big unicorn however it is not that easy to reach those levels.

As soon as some of the venture capitalists get nothing in return and lose money from the horrible understanding of how tech startups works they will stop investing into those kind of tech people and start investing into more established companies to actually get a better return because known is always better. The risk is getting higher and rewards are getting scarce.

I fully support your opinion. The bitcoin price history teaches us to be patient and to wait for the next bull cycle after the price stabilization/correction.

Investors stepping away from risk? That's a first ;)


Yup. People keep pointing to the double/triple etc. bottoms, but let's face it. Bitcoin's been trying really hard to find the "right price" to stabilise at. Every time it reaches that, it realises it's not the right price, thanks to profit takers and "investors stepping away from risk". And so it declines again before a new search. This is a long process, and could take just as long as it did in 2014 as you said, or even the sideways year of 2016. We've hardly been 6 months in this phase, should really start accepting that we'll have to be a lot more patient now.

The trading area around $7000 - 8000 is better than it was 2 months ago, and i'm sure in 2 months time we will have a higher trading ground than now. The psychological mark of 10k is just around the corner, i'm sure we will see it soon.

Yes, even though it's a downtrend, when it started at 20k, the movements were huge (20k-6k) then (6k-12k) then (12k - 6k) then (6k to 10k) and now up to 8200 so the range gets lower and lower from 14k to only 2500$ range, clearly the downtrend has to end soon unless significant news push the market down further.

I think rejection of Etf as well as negative rumors about bitcoin are the main reasons of such stepped back by the investors. But the price will again go up as many analysts have forecasted such increase in the price.

They step away from risk and go to other risky assets.

Well, I dont know what to say...

Same as before, Bitcoin will find own way to recovery its price. Sadly, rejection of ETH was being affected to market as negative trend, reconsiders to reapply ETH maybe not good solution, but i think in these time, some investors got panic too soon regarding the news situation.

ETF is denied the market down. This is a prediction from ETF before it is difficult to get approval from the SEC. Same as 2017. After being rejected and prices going down. Bitcoin has had an amazing growth of 19k usd. Hope after this downturn. Bitcoin will repeat that process again. To make investors feel secure with bitcoin and crypto

This recent dip down to below 7000 is unforeseen, i mean everything is positive at the moment and still such a dip is surprising for most of us, the only cause of this dip may be the technical pattern as we can see in all time chart the btc is making invesrted head and shoulders which is now completed after this dip and now we can expect btc to be extremely bullish from here.

ETF's aren't ''denied''. More ETFs are to be reviewed by the SEC, people who actually research already knew that ETF's wouldn't happen this soon. The ETF Fud was what pushed the market in the first place so even though we are at 7k, it actually helped with the small bounce.

If that is what happens then we should expect recovering from the market very soon.  Those that are selling now Will soon buying back at cheap price in a nearby future.  Investing into cryptocurrencies is a very risky investments and fluctuations in pricing is what build investors, investments' decision.

if you are investor at bitcoin then you must carry the mentality to take risk , I understand that it price has fall on large amount so yes you must have to be careful and wise about choosing the perfect opportunity but staying away is not a good idea at all

If you are an investor you have to take risks and when you see prices going down you have to be brave and buy.
Bitcoin will rise again you should not spread information like that.
Buy bitcoin and wait.

People are free to discuss everything they feel has importance, even if you don't like it.

It has become a trend for people to call others fud spreaders or trolls just because they aren't extremely bullish. Please accept that different people also means different opinions. Grow a thicker skin. That helps.

If you think OP is spreading information you don't like, then wait for Kwukduck to show up and start throwing around with his usual dose of extreme bearishness. He's probably the most hated (hated by noobs) person here.

This ups and downs is common for bitcoin and it has seen much worse scenarios in the past. But bitcoin going down means it will definitely go up in the future exceeding our expectations. Those that understand the bitcoin knows its risk and knows what returns it will bring to them. These dips never make them go crazy or scared or make them sell their bitcoin.

Bitcoin is going through a bearish trend. And it is creating a lots of panics to many people. I think it's the time many investors will enter the market.

I think a lots of non-experienced investors will leave the market now. But whales will enter the market by taking the opportunity. I guess it will cause a good growth in future.

true, and it is unbelievable that people still have not forgotten these very bad behaviors, see that it was only to sec say that he was postponing his decision so that the price would go down a lot. the SEC did not disapprove and approved nothing and even then, people started to sell and to make the price fall a lot, this type of behaviors are very shameful behaviors and we can not have this type of behavior because we are causing fear in the new investors. As the new investors will invest in cryptos if they look at the price and in less than 1 hour the price drops $600, just because people sold because the SEC postponed their decision, so if ETF was disapproved the price would fall even more. this is very bad

I think not all are pull out their investment because lot of cryptocurrency users still hoping that this ETF will approved. I think that people who pull out their funds is the one who don't any believe and want only a playing safe.

This is quiet expected for me especially after reading news about the delay on the ETF. Everyone is excited about it, and that is why we hit $8500 level again but since something bas happen expect the market to react the same. This is a very dip price for me, and investing on this level is a good decision, take more risk now with bitcoin because it can be worth it at the end of this year.

Yeah these words are just reasons for people to start speculating about Bitcoin shooting to the moon again. It doesn't matter what an ETF really is, or the negative implications of the massive institutional stream of money poisoning the decentralized essence of Bitcoin, as long as the price jumps up on it.

Those who are just here to ride trends will continue to fish for events like this and do little to no research on them. This is the same kind of person who bought gold in 2011 or marijuana stocks last year. They buy into it because everyone else is and they want to turn a quick buck

Yeah bitcoin is passing a bad time. I hope it will be recovered soon. But it's a simple think for cryptocurrency because the fluctuations always happen.

If you worry so much about the market price then the best thing to do is just read different positive speculations in order to determine what will happen in the future.

I think we need to be more patient with Bitcoin. The cryptocurrency market will always be fluctuating. I firmly believe long term investments are always profitable in the long run. So, we need to hold on to our coins and wait for the right moment.