Bitcoin is Falling...Is it Panic Time?

[ymirymir]

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?

I don't really see the sense why people are panicking when bitcoin price drops. Technically, you can't even consider it as drop, bitcoin price started at less than a dollar and people should think about that. Even if bitcoin price drops to $500 or even $1000, it is just temporary and surely bitcoin price will recover after a week or month.

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[conected]

Bitcoin falling its value doesn't mean you have to panic or move into other coins. You can consider this event as an opportunity to buy bitcoins

I agree with you and this is what I always tell to my friends who are new in bitcoin that they don't have to panic about bitcoin falling price because after that it will surely make a new ath so if price is down then better buy a lot to make more profit in the future.

If you are talking about today's price cuts, then I would not even pay attention to it. The price fell by several percent. This is very insignificant. Bitcoin will soon continue to grow. No reason to panic

- The price of bitcoin increases sharply then the price drop is strong then the price of bitcoin is pumped stronger, this is a regular scenario that happened with bitcoin and this is a good opportunity to make more profit when the price of bitcoin is very cheap. If somebody does not have any experience and does not believe in bitcoin, they will be very easy to panic and sell all their bitcoin during this time, my advice is that we should forget bitcoin when the price of bitcoin is falling

[David Hoggs]

I dont think it is a panic time if falls, as it is volatile in nature its prices increases or decreases which is common. So if it is low just hold them and keep patience and when it is up again can sell it to gain profit.

[metenjean]

Just trade bitcoin the same as any stock. Support/resistance and you're good.

Some good advice from traders, however we also need to consider the trend for the currency you're getting in, for as far as i see bitcoin can still hold the momentum for longer uptrend timeframe, so it good to have some spare money to buy in the dip 

[Sled]

Just trade bitcoin the same as any stock. Support/resistance and you're good.

Some good advice from traders, however we also need to consider the trend for the currency you're getting in, for as far as i see bitcoin can still hold the momentum for longer uptrend timeframe, so it good to have some spare money to buy in the dip 

We always need to have some extra money rather than going all in on bitcoin because it is really a risky thing to do. If you will all in on bitcoin and the price will dump then you cannot do anything but to watch the market to fall but it is still alright because in long term the price will bounce back and you will get back your money. If you have extra money for buying back then it is the best because you can grab chances to get cheaper bitcoin for long term.

[Harlot]

Just trade bitcoin the same as any stock. Support/resistance and you're good.

Some good advice from traders, however we also need to consider the trend for the currency you're getting in, for as far as i see bitcoin can still hold the momentum for longer uptrend timeframe, so it good to have some spare money to buy in the dip 

We always need to have some extra money rather than going all in on bitcoin because it is really a risky thing to do. If you will all in on bitcoin and the price will dump then you cannot do anything but to watch the market to fall but it is still alright because in long term the price will bounce back and you will get back your money. If you have extra money for buying back then it is the best because you can grab chances to get cheaper bitcoin for long term.

Right now we are seeing a significant dive from the price of 4750$ it is right now 4560$ well at this price range I don't really consider it as a correction but this can be seen as an opportunity to buy more Bitcoin, however you must still observe whether or not it will continue to fall in terms of price. It is better to observe the prices first before jumping into action. Additionally don't be trigger happy with the buy and sell button and not be overcome by emotions.

[Ayiranorea]

Right now the price seems fluctuating and it doesn't look like a price fall, because of panic or other forms of growth happening. Even today by the starting of the market the entire digital currency was down in value and later the price slowly started increasing. I don't think the price has caused a panic among the users.

[chongo]

I am going to buy monday when my money arrives at the exchange, i hope the price will go down further! its a nice chance to buy cheap before it reaches 5k

[Paycoinzzz]

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?

I don't really see the sense why people are panicking when bitcoin price drops. Technically, you can't even consider it as drop, bitcoin price started at less than a dollar and people should think about that. Even if bitcoin price drops to $500 or even $1000, it is just temporary and surely bitcoin price will recover after a week or month.

Why only a week or month?
I remember in the past, the price of Bitcoin has been dumped from $1,3xx to low price (maybe around $1xx because I cannot remember exact) in long time until 2017 for comeback old highest price.
If you want exact price, you can check it in history chart price of Bitcoin in 2013 to 2017 again .

[joshy23]

I am going to buy monday when my money arrives at the exchange, i hope the price will go down further! its a nice chance to buy cheap before it reaches 5k

Correct, as I have mentioned before, this is really a perfect time to really get bitcoin while the price is down. You will hear members complaining about they can't get in because the price is too high, well this is the time now, its in dip and don't need to wait till it goes down a little because the price movement is very unstable. Maybe tomorrow we will see that the price go to $5000 again. So its gonna be hard to buy because the price is too high then. I still remember when the price dip as well to $1900 before Aug 1 then suddenly increases to $2900 in 36 hours. Maybe it could happen right now and later you will regret not buying in today's dip.

[FasTroy]

I am going to buy monday when my money arrives at the exchange, i hope the price will go down further! its a nice chance to buy cheap before it reaches 5k

I hope that you will buy few bitcoins when the price is too cheap now, before it will increase again and reach the 5000$,  I think the next step is the 5k$ It's too soon, maybe in few weeks and at least in the end of november, we will be at 5k$ level.
I will continue to earn bitcoins and work to buying now, because i didn't want to regret in the future.

[carlerha]

Bitcoin falling its value doesn't mean you have to panic or move into other coins. You can consider this event as an opportunity to buy bitcoins

I agree with you and this is what I always tell to my friends who are new in bitcoin that they don't have to panic about bitcoin falling price because after that it will surely make a new ath so if price is down then better buy a lot to make more profit in the future.

If you are talking about today's price cuts, then I would not even pay attention to it. The price fell by several percent. This is very insignificant. Bitcoin will soon continue to grow. No reason to panic

I think we cannot consider  it as panic selling, because it is very normal for bitcoin to fluctuate between 400$ to 500$ in a day. I think now the investors also become too much mature and therefore they are not going to sell their bitcoins in panic like situation but will try to hold it and give good support to bitcoin.

[bitbunnny]

I disagree, Bitcoin is not falling and it's not the panic time. Just a smaller correction of price but that is quite normal and expected I would say. Few hundred dollars fluctuation is not the reason for panic selling and in the short time the price will bounce back. But now everyone should use the opportunity to buy cheaper coins.

[Tron Foundation]

None of this is investment advice - but I will say that it's interesting looking at this thread, considering it started in June and there has been ups and downs since then, but mostly ups.

But of course there has been a pretty decent decline in the last few days.

I have always thought of myself as a decently stable investor. When I buy something, I am pretty confident in it and just hold it through swings. But of course the swings in crypto are way more volatile than other investments. So this has tested me in my belief of investing in bitcoin.

But the upside swing can be so great that I am going to hold and see where things go.

[kodtycoon]

The panic has occurred at the time of falling bitcoin prices from $4900 to current prices and now they will regret their panic. bitcoin prices are now still at $4500 and this does not need to panic, we just have to wait, if you still want to get a profit on your investment.

[krankNL]

When you're in bitcoin, and loss, never panick, it will recover the loss without doubt. If you're in altcoins, you can start panice, becaue it will be much harder to get back your loss compated with bitcoin.

[Warry]

Bitcoin falling its value doesn't mean you have to panic or move into other coins. You can consider this event as an opportunity to buy bitcoins

I agree with you and this is what I always tell to my friends who are new in bitcoin that they don't have to panic about bitcoin falling price because after that it will surely make a new ath so if price is down then better buy a lot to make more profit in the future.

If you are talking about today's price cuts, then I would not even pay attention to it. The price fell by several percent. This is very insignificant. Bitcoin will soon continue to grow. No reason to panic

LOL, do not small % change on market make you worry about future of Bitcoin, anything after reach to highest price always need have correction of price again before continue bullish trend.

[BitFinnese]

i would say buy the dip.. its more like, bitcoin unable to touch 5k and all those fud happening around

I agree use the dip as an advantage in your trading.  Bitcoin has the capability to bounce back and eventually surpass its ATH.  It has been proven several times because if it cannot, then Bitcoin will not be at its current price today.   FUD tends to be used to profit from weak hands and can be used and exploited to our advantage.  So whenever you sa FUD getting stronger, prepare a huge stash of money and catch those Bitcoin thrown by weak hands.

[batang_bitcoin]

I am going to buy monday when my money arrives at the exchange, i hope the price will go down further! its a nice chance to buy cheap before it reaches 5k

The current price now as per preev is $4,500 I guess its already a good price to buy back and its cheaper rather than seeing it again at $5,000 before you buy. No panic at this moment and it seems everyone has learned a lesson from doing such panics. I will not panic too, I'm sick of selling at dips.

[shanma]

I'm not worried, last Sunday it was at 4300 and this Sunday it's at 4500. Ethereum I bought last Sunday at $190+ and litecoin at $60 those are higher price too now