BITFINEX crashed, bitcoin price falls. Will it recover?

[Herbert2020]

this is just a temporary state and price will recover from this fall, and i expect this to continue at least a couple of days maybe until the end of the week before the recovery starts happening.

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[The Sceptical Chymist]

It seems like we've been through this so many times.  I totally agree with franky et al, this is a great time to get cheap bitcoin.  It's like a fire sale.  Aren't you all bargain hunters?

[chaser15]

this is just a temporary state and price will recover from this fall, and i expect this to continue at least a couple of days maybe until the end of the week before the recovery starts happening.

Agree and situation like this has been present also in the past with even much worst.

But for those who has an active funds for trades in bitfinex are the one who will recover for so long especially if the site went the bad way. Hopefully it won't happen.

[lemipawa]

This is your one chance to ever get them this cheap.

I am not sure why you are saying this. The price of bitcoin was $200 less earlier this year, and was ~60% lower then it is now less then a year ago.

The lowest price for Bitcoin for 2016 is $371.97 and that was February 3 2016.
I think you are talking about January 15 2015 when it reached $203.24 I think that's the lowest mark for 2015 and it sailed to the $200 level until Oct 29 2015 when it reached $306.30 and from that point Bitcoin did not drop to $200 level again.

[Quickseller]

This is your one chance to ever get them this cheap.

I am not sure why you are saying this. The price of bitcoin was $200 less earlier this year, and was ~60% lower then it is now less then a year ago.

The lowest price for Bitcoin for 2016 is $371.97 and that was February 3 2016.
I think you are talking about January 15 2015 when it reached $203.24 I think that's the lowest mark 2015 and it sailed to the $200 level until Oct 29 2015 when it reached $306.30 and from that point Bitcoin did not drop to $200 level again.

Bitcoin is trading at ~$550 on coinbase, so it was trading ~$180 lower then it is today, either way, anyone had the opportunity to buy at lower prices just this year.

[lemipawa]

This is your one chance to ever get them this cheap.

I am not sure why you are saying this. The price of bitcoin was $200 less earlier this year, and was ~60% lower then it is now less then a year ago.

The lowest price for Bitcoin for 2016 is $371.97 and that was February 3 2016.
I think you are talking about January 15 2015 when it reached $203.24 I think that's the lowest mark 2015 and it sailed to the $200 level until Oct 29 2015 when it reached $306.30 and from that point Bitcoin did not drop to $200 level again.

Bitcoin is trading at ~$550 on coinbase, so it was trading ~$180 lower then it is today, either way, anyone had the opportunity to buy at lower prices just this year.

Ah got it sorry for that QS. I stand corrected.

[SANALIU]

how about capital money member bitfinex
ready guaranteed or not i think is not guaranted and can not witdraw trust bitfinex is down

[avikz]

It is a sad week for me. From 650 to 550....A 100 USD fall in just 3 days. Traders like me are still optimistic and planning to buy more and more bitcoins even at this time.

I think people should start buying bitcoin now because the price may not fall beyond 540 USD. A little bit od technical analysis will help you understand the situation. So my suggestion is to buy now. The time is now.

[shinratensei_]

This is your one chance to ever get them this cheap.

I am not sure why you are saying this. The price of bitcoin was $200 less earlier this year, and was ~60% lower then it is now less then a year ago.

The lowest price for Bitcoin for 2016 is $371.97 and that was February 3 2016.
I think you are talking about January 15 2015 when it reached $203.24 I think that's the lowest mark 2015 and it sailed to the $200 level until Oct 29 2015 when it reached $306.30 and from that point Bitcoin did not drop to $200 level again.

anyone had the opportunity to buy at lower prices just this year.

This is the opportunity can be taken for everyone who want to dumped the bitcoin until the price is rising again but i think for few days the bitcoin price will getting their normal condition and like previous cases the panic conditions will happened in a few days.

[jhenfelipe]

It is a sad week for me. From 650 to 550....A 100 USD fall in just 3 days. Traders like me are still optimistic and planning to buy more and more bitcoins even at this time.

I think people should start buying bitcoin now because the price may not fall beyond 540 USD. A little bit od technical analysis will help you understand the situation. So my suggestion is to buy now. The time is now.

I think we must be used into this situation. Bitcoin price rise and fall, and I think that's natural. Bitcoin price decreases these days, but who knows what really will happen tomorrow. Maybe it's one of the halving effect and after this the price might rise. Just think positive and hope for the best.

@OP, honestly, I don't have any idea. As I have read in the news before, Bitfinex had experienced several problems these past few months and this recent one, but hopefully Bitfinex will recover and better if soon.

[lemipawa]

This is the opportunity can be taken for everyone who want to dumped the bitcoin until the price is rising again but i think for few days the bitcoin price will getting their normal condition and like previous cases the panic conditions will happened in a few days.

Last time there was a reported hack for Bitfinex, price dropped from $715.84 on June 21 down to $625 on June 23 then it slowly recover but for only $48 for a couple of days then its negative again. $41.88 was the biggest climb after that so called hack or security breach and that happened on June 25.

[nagatraju]

Definitely this is good chance to buy at lower levels. 

It will take couple of months to recover Bitcoin price.

[ether19]

These are the opportunities you get to add bitcoins to your portfolio. I believe bitcoin will recover but can't say when. Downside may be arrested at 450 USD (looking at the charts), although its not guaranteed!

[chaser15]

It is a sad week for me. From 650 to 550....A 100 USD fall in just 3 days. Traders like me are still optimistic and planning to buy more and more bitcoins even at this time.

I think people should start buying bitcoin now because the price may not fall beyond 540 USD. A little bit od technical analysis will help you understand the situation. So my suggestion is to buy now. The time is now.

Just go with the flow. Regrets is part of bitcoin life.

If you are sad with the price decrease, how much more for those traders who have an active trades in bitfinex.

Still you are lucky.

[QuestionAuthority]

If I was the hacker I'd be taking the dump of my life until it was all converted. I wouldn't stop at any price drop because I stole it anyway. Anything I can sell it for is more than I had before.

[Carlsen]

I am wondering, have other currencies been stolen as well or was the hack aiming only for bitcoins?
And I can not help myself, but if I look at the Etc charts I somehow must assume that this might be the direction where all those coins went.

[iamnotback]

Interesting theory:

Here is my eye witness account of what I believe happened on BitFinex and why they're lying about being hacked:

https://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened

[safari88]

probably the same as the case mtgox, when prices are falling. it will surely recover, but I do not know how long it takes, I hope that rapid rise, not too long at low prices.

[randy8777]

probably the same as the case mtgox, when prices are falling. it will surely recover, but I do not know how long it takes, I hope that rapid rise, not too long at low prices.

the most important thing is the fact of how many coins there are stolen. if it's a relatively low number of below 1000btc, then i am sure the market will go up again. but if there are like 20,000-50,000btc stolen, then i think we won't see the price recover any time soon. let's wait for more statements from bitfinex.

[ekissane]

Nearly 120,000 bitcoins stolen. Stuff like this happening does not instill confidence in bitcoin. I worry about the future of bitcoin. Seriously thinking of selling mine.