Bitcoin is Falling...Is it Panic Time?

[Zicadis]

It is never time to panic. Much less plan ahead to panic.  
Your best financial decisions are not made while fearful. Let the other guy panic and you will have an edge in the market.

You read my mind. This is how we miss the big window of opportunity...

When people talk of bitcoin price falling we need to be talking of buying the bitcoins from the weak hands and not think of panicking

[skorupi17]

According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.

I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.

Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?

Being newcomers in Bitcoin, they are undoubtedly very sensitive about the movements of the price of Bitcoin. And since they are not used to the behavior of Bitcoin, they panic so fast when they see major decline (more than $100) or when they read threads in here that claims that Bitcoin will continue to drop that will lead to its death. With this happening, nothing is to be worried about since this is a part of their transition stage and it is likely a normal thing.

Despite of the current backdrop, I still hold my Bitcoins. Even though they are low in value, I prefer to hold them and will wait for Bitcoin to recover (back to 2700 USD range) and to go beyond the 3000 dollar mark.

[jhenfelipe]

Panic time? I don't think we need to panic. The price rise and fall, that's normal, isn't it? It doesn't mean that if the price fell today, it won't rise anymore. Panic will just lead to losses imo that's why I don't have plans of selling my BTC nor exchange it to other coins.

[SingAlong]

According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.

I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.

Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?

Yep. This would have a great effect to newcomers and might make them back out considering the situation in the extreme price fluctuations nowadays which make them doubt. As for me, I believe in Bitcoin and will continue to hold for it since I am optimistic with its future and with the news that are going around is good though there are a lot of people who are panicking and making some stories that "Bitcoin would die and this time for real" and a like.

[hatshepsut93]

According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.

I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.

Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?

It's always panic time. People panic buy, because they don't want to miss their moon tickets, and this is pushing the price up and up, than someone starts selling, and people start panic selling, because they are afraid to lose money and think they can buy back at low price. This is the nature of volatility, and if you are a long time investor, you shouldn't worry about it and just buy bitcoins when you think the price is suitable, and hold them for years to get some big 1000% profit at the end. If you don't plan to become a day trader, you can just relax and don't worry too much.

[que91]

Panic time? I don't think we need to panic. The price rise and fall, that's normal, isn't it? It doesn't mean that if the price fell today, it won't rise anymore. Panic will just lead to losses imo that's why I don't have plans of selling my BTC nor exchange it to other coins.

Haha, but I very like panic seller and the whale like it too, this is reason they ussually create breakdown price Bitcoin! When have this event, I can buy Bitcoin with cheap price and just wait the price of bitcoin restore again

[CyberKuro]

According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.

I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.

Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?

Holding of course, it is the best cryptocurrency, as the first one and it has the highest exchange rate.
There will be no any cryptocurrency without inspired by bitcoin. It is the most famous digital currency, the King if I may say, and used mostly for trading right now due to scalable problem. Because that problem makes it drop back again and again, untill this resolved then we could reach higher price and usability in global market. But, still hold on.

[bouren]

So far now, I experienced one worst thing in bitcoin trading and it is that "selling when prices are falling".
Traders think they are protecting their money which may turn zero if they won't sell but in real they doing wrong to both market as well as to themselves.
Till now, bitcoin has proved that it has capability to recover from big down trends. So if anyone sell bitcoin with down trends, he is loosing this future anticipated profits as well as worsening the market price.

[chaser15]

So far now, I experienced one worst thing in bitcoin trading and it is that "selling when prices are falling".
Traders think they are protecting their money which may turn zero if they won't sell but in real they doing wrong to both market as well as to themselves.
Till now, bitcoin has proved that it has capability to recover from big down trends. So if anyone sell bitcoin with down trends, he is loosing this future anticipated profits as well as worsening the market price.

And for me, it's not a wise way to sold coins especially when the price is decreasing continously. Instead of minimizing the losses, they are just wasting opportunities since the coins they will sold are majority bought at lower prices. And now what's next? After they sold coins, they will wait again for more price decrease to buy coins but bitcoin price will maintain again it's lead and slowly increasing. Now they are forced to buy at much higher rate than they did to the coins they sold during the price dip to take advantage of the rise.

Bitcoin suffers of major downtrend since it was introduced to us. Lots of them are able to withdstand, thanks to the community. And now the price crash is just few amount to be consider. The lost was about $500-$700 but people forgot that increase made are $1000 above.

[Vasilije69]

Why panic? It's totally normal. It happened many times. Now we are expecting a new boom and value more than 3000$.

[legarde23]

No! ofcourse not,,actually it is the best time to produce or buy more bitcoin because that is the sign of bitcoin that it is increasing again remember the 2500$ prediction of 2018? bitcoin hit it earlier, it is just like this one the price of bitcoin will definitely hit 3000$ above in this year and more increase in 2018 for sure.

[bouren]

So far now, I experienced one worst thing in bitcoin trading and it is that "selling when prices are falling".
Traders think they are protecting their money which may turn zero if they won't sell but in real they doing wrong to both market as well as to themselves.
Till now, bitcoin has proved that it has capability to recover from big down trends. So if anyone sell bitcoin with down trends, he is loosing this future anticipated profits as well as worsening the market price.

And for me, it's not a wise way to sold coins especially when the price is decreasing continously. Instead of minimizing the losses, they are just wasting opportunities since the coins they will sold are majority bought at lower prices. And now what's next? After they sold coins, they will wait again for more price decrease to buy coins but bitcoin price will maintain again it's lead and slowly increasing. Now they are forced to buy at much higher rate than they did to the coins they sold during the price dip to take advantage of the rise.

Bitcoin suffers of major downtrend since it was introduced to us. Lots of them are able to withdstand, thanks to the community. And now the price crash is just few amount to be consider. The lost was about $500-$700 but people forgot that increase made are $1000 above.

Very true!
I have seen my friend selling for $1400 one day and were ready to buy for $1700 in a day or two after when he read news that bitcoin is going to pump.
This is common problem with traders these days. They are very reckless and as a result loose their share from market.  

[Pearls Before Swine]

I'm definitely holding.  For one, you can't make money by doing what everyone else is doing, which right now is selling into a falling market.   And second, I've been in bitcoin long enough to know that this is normal market behavior in crypto, and I'm pretty sure that the bull market isn't over yet.  It's just a correction we're seeing.

[flower1024]

No! ofcourse not,,actually it is the best time to produce or buy more bitcoin because that is the sign of bitcoin that it is increasing again remember the 2500$ prediction of 2018? bitcoin hit it earlier, it is just like this one the price of bitcoin will definitely hit 3000$ above in this year and more increase in 2018 for sure.

I observed the bitcoin price whenever it is going to increase. First, it will go down and slowly it will grow. The same thing is happening now. Last night it went up to $2000. I think it may be touched $2k last night. Today again $500 increase in BTC price. See who all bought last night when it went down today they are in $500 profit. Which online business will give you one day $500 profit. So don't panic still wait for some time your profit will increase more this is sure.

[bamboylee]

Panic time? I don't think we need to panic. The price rise and fall, that's normal, isn't it? It doesn't mean that if the price fell today, it won't rise anymore. Panic will just lead to losses imo that's why I don't have plans of selling my BTC nor exchange it to other coins.

The price is actually slowly creeping back up to where it was. Now the price is at 2500+ again. You are right, panic will just lead to loses. I think those who panicked came back to their senses and now buying back.

[Janation]

According to my friend preev.com, as of press time, the value of Bitcoin is standing at $2,351. Though I would say that this still considered as a feat, some are worried because it almost reached $2,800 again after the correction that happened days ago.

I have read that the decline can partly be contributed to newcomers especially neophyte traders who still have to be well-versed on the market...and can easily be ignited to do panic selling once they can fell that anything can be wrong.

Against this backdrop...are you holding on to your Bitcoin or transferring it into another digital currency?

As a user of bitcoin for a long time now, I can't see any reason to give away or do not hold my bitcoin. Bitcoin is a volatile digital currency, it always go down, especially when there are network splitting or even fork to happen. I did see bitcoin survive and stand from it's losses, and I can't see a way that it will not be returning from it's current price, we just need to wait.

[Chin Cheng]

Personally, I'm slowly moving my monetary wealth to Litecoin. That seems to be a safer option than waiting out with bitcoins

Moving your bitcoin to other assets is a good idea and i think Litecoin is the only under performing coin in the entire market and i am not too confident with the valuation level and how it might change in the future is to be seen,hope to find other options to hold your money until everything is resolved with bitcoin.

[BitHodler]

Personally, I'm slowly moving my monetary wealth to Litecoin. That seems to be a safer option than waiting out with bitcoins

Moving your bitcoin to other assets is a good idea and i think Litecoin is the only under performing coin in the entire market and i am not too confident with the valuation level and how it might change in the future is to be seen,hope to find other options to hold your money until everything is resolved with bitcoin.

It's not the only underperforming digital asset. There are dozens more underperforming coins, but difference is that Litecoin is one of the very few that hasn't been insanely premined.

I personally value my coins too much in order to exchange them for an alt. I rather keep hodling every satoshi I have, and buy even more in case the price happens to tank big time.

[deisik]

Till now, bitcoin has proved that it has capability to recover from big down trends. So if anyone sell bitcoin with down trends, he is loosing this future anticipated profits as well as worsening the market price.

This works until it doesn't

And when it finally stops working, it will be absolutely irrelevant how many times it worked in the past since you will just lose all (unless you book profits regularly and are not reinvesting all). Just like it happens with shit coins on a pretty consistent basis. If you think that Bitcoin is somehow different, let's wait till August 1st and see how things turn out. It may happen that Bitcoin is not in fact as different from the rest of the pack as many think

[Reid]

Cmon guys. It went up for a whooping thousand of US dollars and yet we are making a scene with just hundreds of it?
Are we still not used of the way bitcoin rise and fall?
This should be normal specially to those members and higher ranking.
Even newbies here does know a trend like that which is just like walking in the park.
No need to panic with this kind of movement. It will come down and yet it will still rise.