Bitcoins new trend

[Herbert2020]

this looks so familiar, let me think where have i seen this before in my life... [pondering for hours looking at the charts]
oh yeah it is called every other day in bitcoin market with the same price changes.


and the other day:

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[Wandering Soul~]

I will just take advantage of the price decrease to buy more bitcoins. For how many years,  The price decrease is always happening and now what? Bitcoin is still alive and kicking.  Still nobody knows what the future holds

[Amph]

it has to do with one thing, that none seems to consider, the fact that altcoin mining is very profitable, and it is added to the halved block reward, another good portion of bitcoin produced per day

altcoin miner are dumping at least 1000 more bitcoin a day added to those that are produced by the bitcoin chain already, which are 1800

this considering that there are 200k gpu that are mining and each one produce 300-500k satoshi per day, in other words there was no halving at all, there is still a dump of 2800+ coins per day...

But those coins are coming from somewhere.. It is not like those bitcoin are produced by altcoin mining. People buying the coins that are dumped during mining need to buy the bitcoin themselves. So it is basically a 1 to 1 exchange of fiat for altcoin with a slight delay in between where coins are bought and sold.

RSI analysis shows that a sale was bound to happen, probably will not go lower than 550-600 usd.

those coin are still exchanged for something that is produced, and it is very profitable, so it's mean that it will be dumped under the price at which those bitcoin were bought, because miners have the upper hand over those buyers that bought those coins that are sold to those altminer

example, a random guy buy at $650 1 bitcoin, he use it to buy a profitable coin, like etheruem, now this mean that a altcoinminer dumped his etheruem for that 1 btc, now he did it at a ratio that it is very profitable for him, so he can dump immediately the 1 bitcoin he acquired

[kwukduck]

Nothing new. We were on a slippery slope long before the halving hype started. We had a small boost because of all the hyping. Now it's back to the slippery slope we were on 3-5% decrease daily if not more and if we don't get a massive crash.

[valta4065]

Based on the market price trend graph, bitcoin has shown signs of price decrease, as of the moment an alarming decrease has occurred and for two days already it slowly showing the falling movement.

Is this the sign that bitcoin will unfortunately going to continue to go down. This seems a bad news but we hope that it will go back.

Will it go up or fall down more.

Well, after a rise up to 660, I don't think going a bit down at 615 is a bad news ^^

Seems normal to me.

[mrhelpful]

What do the professional traders say to this decrease?
When do you buy?

This is from eyes of been through all the ups and downs.

If your current position - meaning you cant afford to hold the bitcoin - then sell it. But intially you`d want to hold this due to the worlds view of money then anything else.

And the obvious demand for it.

[Kprawn]

Why is everyone so pessimistic? A year ago we had a price of roughly $200 and it increased to $400 to $450 .... It averaged there for a long time, and then it quickly climbed to the $600+ levels. Most

of the speculators from the Halving has dropped out now, so we should se a bit of a decline in the price. I think we will see a price averaging out at $500 again, and then it will climb back to the $600

to $700 level, later this year around Xmas. 

[valta4065]

Why is everyone so pessimistic? A year ago we had a price of roughly $200 and it increased to $400 to $450 .... It averaged there for a long time, and then it quickly climbed to the $600+ levels. Most

of the speculators from the Halving has dropped out now, so we should se a bit of a decline in the price. I think we will see a price averaging out at $500 again, and then it will climb back to the $600

to $700 level, later this year around Xmas. 

Yeah i don't understand either,
They all seem to believe there is a bubble, but I don't see a sign.

[CroIsBest]

Yea it is decreasing and it will go up 3x in my prediction which will defenitely gonna happent really fast and bitcoin could reach big price this year maybe about 1500$ because of smaller amounts using fiat.

[ivanst776]

Based on the market price trend graph, bitcoin has shown signs of price decrease, as of the moment an alarming decrease has occurred and for two days already it slowly showing the falling movement.

Is this the sign that bitcoin will unfortunately going to continue to go down. This seems a bad news but we hope that it will go back.

Will it go up or fall down more.

I'm really worried about the price, until now it was acceptable and it was good to see bitcoin at ~600€ but now that the price has been decreased to 550€ means that something in the background is happening which I still haven't found what is that. Maybe the ethereum rise?

[Wind_FURY]

Based on the market price trend graph, bitcoin has shown signs of price decrease, as of the moment an alarming decrease has occurred and for two days already it slowly showing the falling movement.

Is this the sign that bitcoin will unfortunately going to continue to go down. This seems a bad news but we hope that it will go back.

Will it go up or fall down more.

It will go down more below $600. But do not see this as bad. It is actually good because more and more buyers will become interested again. Right now this is a seller's market. The price is high and there are not enough buyers or demand to bring bitcoin further up.

[electronicash]

ETC and ETH grabbed investors attention, i guess the rest just move thier money to ETH derivative seeing as these are much better currency and that no one as of now is simply claiming they are scam. 

[hatshepsut93]

ETC and ETH grabbed investors attention, i guess the rest just move thier money to ETH derivative seeing as these are much better currency and that no one as of now is simply claiming they are scam. 

BTC market share is 81% like always, so it's safe to assume that BTC is dumped for fiat. The only question is why?

[severaldetails]

ETC and ETH grabbed investors attention, i guess the rest just move thier money to ETH derivative seeing as these are much better currency and that no one as of now is simply claiming they are scam. 

BTC market share is 81% like always, so it's safe to assume that BTC is dumped for fiat. The only question is why?

Even there the explanation could be the eth/etc investors.
Eth and Etc are second and third by market capitalization.
Maybe the volatility of those two coins at the moment scares btc investors away becaus btc is a crypto currency as well.

[ynef]

What do the professional traders say to this decrease?
When do you buy?

Not a professional trader, but as soon as you start seeing new users with little to no activity claiming that bitcoin is dead, it's usually a good indicator to be ready for buying.

[BTCLovingDude]

it has to do with one thing, that none seems to consider, the fact that altcoin mining is very profitable, and it is added to the halved block reward, another good portion of bitcoin produced per day

altcoin miner are dumping at least 1000 more bitcoin a day added to those that are produced by the bitcoin chain already, which are 1800

this considering that there are 200k gpu that are mining and each one produce 300-500k satoshi per day, in other words there was no halving at all, there is still a dump of 2800+ coins per day...

But those coins are coming from somewhere.. It is not like those bitcoin are produced by altcoin mining. People buying the coins that are dumped during mining need to buy the bitcoin themselves. So it is basically a 1 to 1 exchange of fiat for altcoin with a slight delay in between where coins are bought and sold.

RSI analysis shows that a sale was bound to happen, probably will not go lower than 550-600 usd.

those coin are still exchanged for something that is produced, and it is very profitable, so it's mean that it will be dumped under the price at which those bitcoin were bought, because miners have the upper hand over those buyers that bought those coins that are sold to those altminer

example, a random guy buy at $650 1 bitcoin, he use it to buy a profitable coin, like etheruem, now this mean that a altcoinminer dumped his etheruem for that 1 btc, now he did it at a ratio that it is very profitable for him, so he can dump immediately the 1 bitcoin he acquired

you are missing one important thing, and that is the price of these pairs (BTC-ETH, BTC-USD, ETH-USD)

if the miner wants USD he will dump ETH for USD directly and if he wants BTC he will dump ETH for BTC directly and will keep the BTC.

he will never do ETC > BTC > USD because he will have to pay the fees twice and the prices will always be at a balance that you will never make any profit from this additional step.

at this moment:
ETH/BTC : 0.01741
BTC/USD : 605.89
ETH/USD : 10.56

in other words 1 ETH = 0.01741 =10.54 which is the same value

[amacar2]

I don't see this as completely new trend as we have also seen similar cup like pattern before, so after this 10% dump we may see steady rise to recover price back to 650$ or even more.

[Superbitzz]

Based on the market price trend graph, bitcoin has shown signs of price decrease, as of the moment an alarming decrease has occurred and for two days already it slowly showing the falling movement.

Is this the sign that bitcoin will unfortunately going to continue to go down. This seems a bad news but we hope that it will go back.

Will it go up or fall down more.

this is just a small change in bitcoin, the stability has made everybody lazy and it seems like everybody has forgotten that bitcoin used to change $50 in each swing up or down. now it has been stable for a while and changed only in $1-$5 so everybody has forgotten a while back.

i think bitcoin recall his previous trend it awakened the people as there is a big downfall in the price of bitcoin. the price is trading in 570 $ now. but i think this is a temporary down fall. and hope that it will recover itself very soon.

[dumana]

Based on the market price trend graph, bitcoin has shown signs of price decrease, as of the moment an alarming decrease has occurred and for two days already it slowly showing the falling movement.

Is this the sign that bitcoin will unfortunately going to continue to go down. This seems a bad news but we hope that it will go back.

Will it go up or fall down more.

this is just a small change in bitcoin, the stability has made everybody lazy and it seems like everybody has forgotten that bitcoin used to change $50 in each swing up or down. now it has been stable for a while and changed only in $1-$5 so everybody has forgotten a while back.

i think bitcoin recall his previous trend it awakened the people as there is a big downfall in the price of bitcoin. the price is trading in 570 $ now. but i think this is a temporary down fall. and hope that it will recover itself very soon.

The bitcoin price is around $585 now. I believe the price will trade here for a few more days, then it will go to $600.

[angryswamp]

i think that bitcoins trend is only up right now, in my opinion it will be huge soon