Bitcoin Price & Further Losses

[hugeblack]

The "V" shaped recovery in bitcoin (BTC) from Wednesday's low has stalled below the $12,000 mark in the last 12 hours. Prices on CoinDesk's Bitcoin Price Index (BPI) did rise to $12,045.09 at 15:14 UTC yesterday, before retreating to sub-$11,500 levels by 22:00 UTC.[1]

The slide from the high of $12,045 was extended further to $10,988.79 in Asian hours today. However, bitcoin soon regained poise and rose to an intraday high of $11,808.49 (at 08:44 UTC).[2]

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Did we need quick Progress "as writer say"?

source https://www.coindesk.com/stuck-at-12k-bitcoin-price-needs-quick-progress-to-avert-further-losses/

[YuginKadoya]

Even though we are stuck in the $12,000 or $11,000 I really think bitcoin need a slow in progress right now that Altcoins are the one that gaining more attention because of its cheap price and when it pumps you can surely get profit that fast, But I think even if we had dip down to the $9000 mark bitcoin will still recover because if bitcoin reach that certain price I really think it will go that mark and even beyond that that is the true nature of bitcoin.

[rayk]

I think bitcoin's price stucking is worse than crash of bitcoin's price because people can't predict what will happen and make wrong decisions when it stucked between $10K-12K

[Improperstammer]

I think bitcoin's price stucking is worse than crash of bitcoin's price because people can't predict what will happen and make wrong decisions when it stucked between $10K-12K

I totally agree that the future direction in price is still uncertain... We could wait for the next break-out before buying or we could buy now and sell as soon as support breaks.

[donalfonso]

i think bitcoin is going through a very slow recovery process. there are a lot of coins that suffered some losses in recent times and majority of them are at lower prices, which are a more cautious investment route compared  to bitcoin. the king of them all. so i believe confidence will gradually pile up into the market and bitcoin's slow recovery path will continue.

[Javi_Anibarro]

uncertainty is part of trading,also part of strategy.
for the whales,they are creating that kind of article,writing or something like that to confuse other people.
just look at its history,
how many times we're seeing this kind of activity ?
the fact is,Bitcoin won't move like that forever.it need a time to stabilize itself at certain range to gain another momentum.
more down or more up ?
it's all depend on the market sentiment,all that we need to do is preparing ourself to face it.
it's not really hard to do it to be honest

[peter0425]

I think bitcoin's price stucking is worse than crash of bitcoin's price because people can't predict what will happen and make wrong decisions when it stucked between $10K-12K

Of course, it's better to see bitcoin price just fluctuating between $11K-$12K instead of seeing it going down.

Even though we are stuck in the $12,000 or $11,000 I really think bitcoin need a slow in progress right now that Altcoins are the one that gaining more attention because of its cheap price and when it pumps you can surely get profit that fast, But I think even if we had dip down to the $9000 mark bitcoin will still recover because if bitcoin reach that certain price I really think it will go that mark and even beyond that that is the true nature of bitcoin.

I think the road to recovery has started, I will also like it to see in a slow progress. We don't want it to rally again to quick, as we all know what follow next after that. As for altcoins, yes, they are gaining huge percentage per day because they are quite cheap compare to bitcoin. More investors, newcomers flocks to their market and wait what will be the emotion of bitcoin ecosystem, will it go to another bearish trend or will the bull takes over once more?

[zlatan07]

Bitcoin will rise again that is for sure, slowly but steady. There is tons of media news about Bitcoin crash blah blah, because of that peoples don't want to invest, they are afraid of losing their money. When this media fraud stops, bitcoin will jump again.

[timerland]

No need to rush.

Some people are still suspicious that this is the final straw, but it should be clear that it isn't. Bitconnect, something that has no relevancy to bitcoin, as well as some threats of government regulation has scared the crap out of the markets and it really shouldn't have. These low levels aren't going to last long, and what we need right now is probably a few days of stability before a huge surge in price.

If you zoom into the bitcoin price from January last year to now, you'll see that every time a big pump is followed by a correction about the same size as this time. I wouldn't worry.

[Maveth13]

As much as we like bitcoin to have this quick progress you're talking about, we can't have it. Even if bitcoin recovers to $20k again, or even exceed that, a correction will happen and will go back to a somehow stable price. People should stop seeing that drop from $20k-$12k a loss, it was pumped, it wasn't supposed to reach it that fast. Just be thankful that it did, with that we now see a goal that bitcoin can reach that price and be stable at it.

[nc50lc]

There are none or less bitcoin hype today since that bubble burst last December, that alone indicates that this will be a long struggle between $10k-$16k.
As long as coinbase and exchanges supports bitcoin there won't be a threat of a sudden loss.
As I said, if Bitcoin is losing, this will be a long struggle, not too much of a headache.

What drives today's (and same timeline last year's) value are always speculations.
A pump or bubble has always been brought by P&D by whales followed by hypes.