Please give me advice, Bitcoin will rise again or go to hell? I'm scared

[mrcash02]

Make this an opportunity for you. For how much did you buy your BTCs? If you bought it cheap you are safe. If you bought it expensive you won't have profit for now, but you can continue holding it. On short-medium term I don't think BTC will continue costing a lot, I believe the price will fall a bit, but on long term surely Bitcoin will continue increasing a lot.

[Igor Beijing]

Who said the price went down?

It went up from USD 400 to USD 1.000 in a year 

[QuestionAuthority]

I wouldn't worry about it, it's probably just a minor correction. Or it possibly could be people like me that decided to sell a quantity above $1,000 and keep selling for every jump of $100. There are many people that have been waiting since 2013 to sell and get their money back. They could be selling too. If it does continue to drop then just do what I did and take the $100k you just made selling, buy back your 100btc at a lower price, fly to Vegas and party for two weeks on the profit. 

[GMPoison]

I wouldn't worry about it, it's probably just a minor correction. Or it possibly could be people like me that decided to sell a quantity above $1,000 and keep selling for every jump of $100. There are many people that have been waiting since 2013 to sell and get their money back. They could be selling too. If it does continue to drop then just do what I did and take the $100k you just made selling, buy back your 100btc at a lower price, fly to Vegas and party for two weeks on the profit. 

I like the way you think.

[mkmdoc]

Don't rush with bitcoin ultimately you will loose your money take a break and concentrate more on watching bitcoin because now the bitcoin is in fluctuation so don't try to buy bitcoin now, it will rise again wait patiently.

[Wandering Soul~]

Seems like you are new to bitcoin and doesn't seem to have studied the basics of bitcoin so after reading this I suggest that you should do that  

Rising and falling of the price of bitcoin is a common thing so don't be scared. So you should just take advantage of it to buy more . If you ave watched the market the price will rise at some point which is an opportunity to sell your coins and it will surely decrease like what happened earlier and like what I have said earlier use this to just buy more .

[Kprawn]

This is exactly why most of us advice people not invest more than they are willing to lose. I made the decision way back to invest my own

money into Bitcoin and then wait until I can double the investment and then sell some to re-coop my initial investment. I did this and I am now

playing around with the profits. If anything happens now, I would effectively not lose any of my own money, and only the profits I have made.

So far this works out quite well for me, and I do not have all the pressure I used to have when it was my own money on the line.  

My ROI happened a few years ago, so I am "fear free" for many years now.  

[Tanic]

I'm scared because price Bitcoin down, I do not know what to do with Bitcoin at this time

I don't see that the price for bitcoin fell. I use YoBit for all my bitcoin operations and the price there is about 1090$ in this moment. And even if I see that it feel under 1000$ I don't panic, cause of in sure it will rise again.

[Stroto]

Bitcoin will rise to hell obviously.

[Daniel91]

I'm sorry but nobody can give you such predictions.
We all have some expectations but bitcoin price depends on supply and demand only.
Now, we see trend that much more people buying bitcoin and its price going up.
At some point, more people will sell bitcoin and price will go down.
Please try to see here ''long term'' picture and vision, and don't be so nervous about current trend.
Many of serious bitcoin users here think long term and simple collecting bitcoin in their wallets.
They believe that soon or later bitcoin will become mainstream and this will become very profitable investment.
So, it's up to you what you want to do.
Sell now, for some fast profit or wait for possible bigger profit later

[kryptqnick]

Yes, the price is not $1k+ anymore. My guess is that it will reach 1k maybe once again soon and then will start decreasing in price. That's what happened the last time, you know. If you need money now you better sell the btc today or tomorrow. If you want to get rich in a few years or so - keep calm, wait for a couple of years and you'll get your $1k+ price, I'm pretty sure about it.

[r0ach]

I don't usually post dump calls as a courtesy to fellow market makers/china pumpers, but it was pretty much over at this picture I sent to someone yesterday:




Support levels are $923, $965, and $1006.  I assume most of the dump ammo is gone and it will probably hold around $965 then gradually move back to $1015-$1020 range over time.

[alyssa85]

This is China related. Lots of the Chinese longs were borrowing yuan, and there was a squeeze in borrowing costs and they had to liquidate.

The wall street journal has written an article about the chinese squeeze, because it affected ALL forex, not just bitcoin:

http://www.wsj.com/articles/u-s-dollar-retreats-after-fed-minutes-1483588809

The Chinese yuan surged against the U.S. dollar for the second day running, spurring a broad rise for Asian currencies on Thursday after a dovish set of minutes from the Federal Reserve overnight led traders to temper expectations of higher U.S. interest rates this year.

The dollar depreciated 1.0% against the yuan in offshore markets, at one point reaching a two-month low of 6.7845, extending Wednesday’s decline that was likely the result of yuan buying in the offshore market by Chinese state-owned enterprises. It sank 1.3% against the Japanese yen, which was recently trading at 115.8370, and lost 1.1% against the New Taiwan dollar.

The dollar’s dive represents a partial reversal of the currency’s strengthening since Donald Trump’s victory in the U.S. presidential election in early November. Markets had been betting that Mr. Trump’s economic plans would stoke higher inflation in the U.S., causing the Fed to raise rates quicker than previously expected. The dollar’s initial slide on Thursday came after the Fed suggested in the minutes of its December meeting that the currency’s recent strength could in fact slow the pace at which it raises rates.

The Fed noted that “a further strengthening in the dollar could lead to tighter financial conditions that restrain economic activity and inflation—a key downside risk,” economists from Oxford Economics wrote in a research report. “In this light, we see the Fed hiking rates just twice this year and waiting until June to engineer the next rate hike.”

The dollar took a further leg down around lunchtime trading in Asia, as markets digested the latest evidence of China’s increased efforts to stem the yuan’s recent weakness.

The cost of borrowing the Chinese currency in Hong Kong, the world’s major center for offshore yuan trading, rocketed to 38.335% on Thursday, the highest level since a record set almost a year ago. The rate’s surge was taken as a further sign of Beijing’s efforts to make it expensive for speculators to bet on a falling yuan. “Higher funding rates for the offshore yuan have sent a message to the markets and created spillover effects on the rest of the region,” said Roy Teo, senior foreign-exchange strategist at ABN Amro in Singapore. Strength in the yuan typically lifts currencies of countries neighboring China, many of which conduct most of their trade with Asia’s largest economy.

New reporting requirements on foreign-exchange transactions by Chinese citizens, as well as adjustments to the basket of currencies the People’s Bank of China uses to determine the currency’s value, had already encouraged expectations the yuan could strengthen in recent days, Mr. Teo said.

“The Chinese authorities are doing their best to stabilize the renminbi over the short term and discourage Chinese citizens from buying foreign exchange,” said Heng Koon How, a senior forex strategist at Credit Suisse.

The dollar’s sudden move lower in the middle of Asian trading hours caught traders off-guard.

“We are seeing short-term traders in the market out to take profits,” said Stephen Innes, head of trading in Asia for forex broker Oanda. “Those with long-dollar positions should stay firm.”

The U.S. dollar also dropped 0.9% against the Korean won, which was recently trading at 1183.6100, and against the Indonesian rupiah, falling 0.9% to 13332.00. Asian equities largely continued their start-of-year strength Thursday even as the U.S. dollar fell. The Nikkei Stock Average finished down 0.4%, paring just a bit of Wednesday’s 2.5% jump in that market’s opening session of 2017. But if the yen’s gain versus the dollar is sustained in U.S. trading Thursday, it is liable to weigh on Japan stocks Friday.

The Shanghai Composite Index rose 0.2%. The yuan’s rebound the past two sessions “will alleviate the outflow pressure,” said Margaret Yang, market analyst at CMC. “That is a positive factor to the domestic equity market.”

South Korea’s Kospi stock index fell 0.2%, while gains were logged in many other markets, with Australia’s S&P/ASX 200 climbing 0.3% and Hong Kong’s Hang Seng Index jumping 1.5% to post its biggest gain since Nov. 10. In Australia, energy stocks were among high risers after oil prices soared overnight, despite crude prices drifting slightly lower in Asian trade. —Willa Plank contributed to this article.

[mixan]

I think we will continue to see threads just like this one from people who just heard about bitcoin's rise to it's ATH and rushed into here looking for answers to what bitcoin is about.
Or too just poke their heads in to see what all the commotion is about.
Well you got a good dose of it!
Welcome to the Terror Dome...
Come on down!

It rises and falls on it's own because it has no master and does not follow any rules no matter what anybody here tells you.

Think of it as a Dragon. Ever manipulating and a beast that can never be tamed.

[Katewind]

I'm scared because price Bitcoin down, I do not know what to do with Bitcoin at this time

My prediction is that it will return back 1,000+  and the bottom is about 800$-850$.
You can wait for bouncing up and then selling . That is best way to recover you losses.

[olubams]

I'm scared because price Bitcoin down, I do not know what to do with Bitcoin at this time

Bro, if you are one, I would suggest you take it easy and not take any rash decision that you might blame yourself and dont also forget you are not the only one in this as everyone is affected one way or the other. And at the point it is now, there is hope might still rise since the fall is not too brutal for it to take time to recover from the shock...

[chaser15]

I'm scared because price Bitcoin down, I do not know what to do with Bitcoin at this time

Why scared? Remember that before the surge we are sitting around $700-$800 as far as my memory is concern. Instead, take this as an opportunity to make another rounds of buying, yes embrace the dip as it was normal.

Advice? If you think you missed the train of selling price then just hold since it's just the same risk. While at the same time just continue with your method to earn bitcoin. Accumulate more and more. If you don't need to use your bitcoin then just let it sleep.

No one knows what will happen in bitcoin price so better play with it.

Easier said than done, I feel tense and worried. If Bitcoin prices continued to decline, I will lose a lot of money

A lol on this one. Why pressuring yourself. It's not that bitcoin will adjust to our needs, we are the investors, users, traders here in bitcoin world so we ourselves are the one who will deal with the behaviour of the price.

If you feel tense and worried then bitcoin investment is not appropriate to you. Price volatility must be taken patiently and not an instant one.

[morantis]

just relax and ride it out, there is no reason for this to do anything except make more money for people

[GMPoison]

just relax and ride it out, there is no reason for this to do anything except make more money for people

That's all a drop in price ever is, an opportunity to make money 

[Cristosi]

Do not panic, this is bear trap not pull trap , guy. If you have wrong decision , you will lose your money.
Be careful and calm down, guy. No need to hurry up. Have a fun.