in stockmarket, i used to believe a lot in TA. but in crypto, not so much. prices of most coins are easy to pump and dump. plus there is no gain/loss limits
At first I also used the technical analysis just like in the stock market and it seems it is not useful in crypto market. Someone in the forum help me on how to chart in crypto. The basic concept is actually the same but plotting is different. Also I noticed that support and resistance is respected here in the crytpo market. Of course there is no guarantee that it will go your way but at least you will have a guide. |
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I think all the newcomers (newbies) are now leaving the market with panic selling and that's what is keeping the downfall of course the bad news about bitcoins also helped.
I'm sure bitcoin and most of crypto currencies will never crash don't forget the drug market that is running on bitcoin they will NEVER let bitcoin crash.
maybe this year's downfall is more than any year because the Chinese holiday (which is normal every year) but the new thing this year is that a lot of new people joined the market who have absolutely no experience with bitcoins so they are panicking. so the Chinese and the new traders together are making a huge impact on the market , bigger than any other year.
I'm a newbie as well so if I have a wrong thought or thinking in a wrong way please correct me.
thanks.
I do not think that new comers have affected the price of bitcoin, if there are people leaving there are always new joining as well. For the Bitcoin and the drug market this is just a conspiracy theory. There is no proof that they are using Bitcoin or any other coins. Big holidays also affect the market because a lot of people will cash out their profit. |
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I don't think Bitcoin will go below $4000 but it is very possible to cross $15000 soon if nobody listen to false news. Don't be panic and sell your valuable coins at a cheaper price.
where on the graph do you see a chance for that? I do not know if the chart is real or on what exhange he got it from but with his chart the price just passed the blue line once and that was the time the price supposedly to rise again. If the trend will continue the bottom will be dipper every 20 days or so. I am not saying that it is going to happen, i am just answering your question. For the OP, you do know that the $8,000 support line is holding it grounds. It has been tested multiple times.You need to rethink your technical analysis or charting because from where i see it the price rise is starting. |
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And this is why old Bitcoin holders are always confident that Bitcoin will recover. Bitcoin has crashed multiple times and every crash there is a price rise. Some financial experts or economist are just baffled on why it is happening.
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To be honest I want this to happen so that i could buy more coins. a few days ago broke the $8,000 resistance level and the $6,000 did hold. I am not saying the $5,000 is impossible to happen but $6,000 will be tough to crack.
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1) The rich investors knew the crypto market was going to plunge just before the SEC meeting. 2) They sold off their stocks (down 9% or so since Jan 22) anticipating the crypto plunge 3) They now have funds available in their accounts to play the crypto market. 4) Crypto market will go to astronomical levels it has never seen before, like 100k+ for BTC. 5) Media will talk about it nonstop, and ignorant masses (like I was a month ago) will invest buying at market price 6) This will become the new bubble. Huge one. 7) The intelligent advantaged seasoned rich traders sell off and play/milk the market daytrading (with assistance of bots & computers)  bubble pops 9) Huge transfer of wealth, yet again from the ignorant lower class to richest people. Just like the tech bubble, housing bubble -- now the crypto bubble. Just a thought anyways  It is possible, investors will invest on anything as long as they know they will gain profit. Since the crypto market is new they know that there are still a lot of room to grow. |
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Yes the price of bitcoin is rising now but it is to early to say that it is now an uptrend. We might see a retest on the $6,000 support area. I hope i am not correct though.
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Anything is possible but i think April 2018 is a very short amount of time to reach that price. I feel that predition is really ambitious. My bet is around $20k.
Also if this happens $64k in 2 monthals, then it is another parbolic rise and i am pretty sure after that rise another price correction will happen.
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This is very possible, this billionaires can also use the block chain technology and may also put up an ICO. I do not think someone can stop them. It is not illegal and moat likely it will be successful.
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It doesn't matter whose next because they will take the ban away so they can regulate and tax the crap out of it. Look no further than the USA for the leading power and a bullish signal.
Exactly I think this is just a ploy of these government to ban cryptocurrency and then they will regulate it so they can get much money as they can. If you are the citizen of that country that banned crypto of course you would think that it is better to regulate it than totally banning it. This politician are so greedy. |
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Hi all,
I have a really simple question or so seems to me cause i am a crypto noob.
I really do not understand why almost everybody suggest to hold when there is a dip or correction.
With my simple noob logic i think that when there is a dip someone could sell at the start of the dip or do something else (e.g. buy tether y i know the rumors or something similar anyway) and then buy again later when the correction has stop or decrease.
Obviously no one knows when there is a many days dip and when it will end in order to buy but even so one can save much money just for sell and buy in between even without predict the absolute start and end of a dip.
I hold as everyone suggests but i now realise that if i had sell even a couple days before even yesterday-and not right after the start of the dip and buy lets say now i would have save a bunch of money relatively with what i am doing now which is hold.
I really must be missing something since i am crypto noob orelse i cannot explain why everyone suggest hold while i fear that real pros are doing the oppossite.
I would like to ask only experienced people who know what they are talking about to give their opinions cause i am fed up reading pseudo crypto pros everywhere around. I bet many of you understand what i mean. Everybody has become a crypto pro . Well i am a crypto noob and i need your heads up.
Thank you for your time reading this and excuse my lame English.
Regards.
Almost everybody suggests to hold because everybody believes that this is just a correction and Bitcoin or Altcoins price will rise again sooner or later. Also it does not matter how much the dip is because in reality you did not yet lose any money if you do not sell, everything in the exchange is just a paper loss. |
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USA is land of the free as they say, I do not think that they will. If just in case this happens unlike China citizen of United states can rally in Washington to pressure the government to change their decision. I think they are most likely to regulate crypto exchanges before considering to ban it.
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bitcoin getting worse, will it take a long time to restore the glory of the king of coins? this situation is very surprising, even some investors who buy at high prices now start to panic and confusion .. your response to this situation how sir  If you are talking about the price getting worse, obviously the answer is yes but again if you review the chart history this has happened quite a lot in bitcoins price. we can not characterized bitcoin because of price alone. Technology is still the same. Also I do not think that they are surprised nor confused because if you are listening to the news there is a lot of bad rep right now for crypto currency and the market are just reacting to it. People who bought at the peak take the risk and it just did not pan out that is just trading. You win some you lose some. |
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Yes, I agree. I think the price rise was just a dead cat bounce. I am still seeing that it will go down further to the $4,000 area and hoping that support level will hold if not we may see it go down to $2,000.
Also there is no new catalyst to make the price rise.
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If you are using a credit card to purchase Bitcoin or Altcoins sad to say but they actually have the right to deny it. It is in the terms and conditions when you sign up for a credit card. Actually they can deny any purchase specially the big ones. Technically if you are using a credit card it is their money.
If you are using a debit card then they have no right to deny purchase because it is your money.
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China has banned many websites, but this does not affect Chinese investors' investment because there is a VPN that can access the Internet.
Yes some people will use VPN but not everyone knows or understand VPN. Definitely it will stop some people investing in crypto. Also China has a very strict government not all people in China are willing to disobey their government. Many people will not risk of getting caught. I hope China reconsider its decision and just come up with some regulation about the crypto market. |
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I personally think it will continue its downtrend. We may see bitcoin price dropping as low as $3000 are nefore it bounce back.
For the question why is this happening. There is a lot of new lately about bitcoin. Regulation and banning crypto of counties are the major factors.
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This is mathematically correct but we are not living in a perfect world this strategy is really dangerous and most likely you will still lose money.
If you want to average down do your best to understand the charts and try to average down you can also always short bitcoin if you think that the price will continue to fall down.
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If you trust Bitcoin and the altcoins that you bought then hold. If your strategy from the beginning is for a long term stick to your strategy just hold. No matter the price is you do not need to worry because in the long run prices will go up.
I have coins for trading and coins for long term. I sold everything in the exchange and just holding the USD,But I will not sell the coins for long term.
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Bitcoin price is getting down just like ski slop!
Is bitcoin over? do you think bitcoin will recover their price?
I'm afraid, I lost my everything almost 2million....
No definitely Bitcoin is not over and yes I am confident that the price will recover but to be honest it may take some time. This is the result of cumulative bad news from countries banning crypto currency and also facebook banning crypto ads. If what you are saying is true that you may lose 2 million, I do not know on what price you got your Bitcoin, but be patient as of now everything is just a paper loss it is too late to cut loss. |
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