Dump is not over yet

[Shishir99]

In my opinion it will continue till August or end of the August.
It is happening because of the fear of losing money.
Then market will be normal again i think.

[layoutph]

Yes, OP is correct. We are not yet done with the dump. Bitcoin will reach the 1900usd to 1800usd first. I think this is the dip. Then we will proceed to 2000usd to 3000usd... 4000usd... Then next is history. Checkout the July 2015 and 2016 bitcoin chart, the chart will just repeat itself.

Checkout this chart:

[dissident]

The time for a swing trader to buy is when you get far enough outside an established range to make it worth your while because you'll almost always bounce back up to resistance. For example in the included example here you can see we sold off significantly below the bottom red line, more than twice the distance, and bounced back up too it. These type of trades are quite profitable and it's why swing traders like wild swings and big moves because they are actually easier to predict than when a market is drifting around doing nothing.


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Ultimately the above guy is right... bitcoin will eventually hit all time highs, but whether it takes 2 months and a 40% selloff to base or 3 years and a 75% selloff to base remains to be seen. This is why they tell the average joe to just dollar cost average, and not try to time the market.  The bigger the move, the longer it takes to finish the cycle, kind of a law of nature.... it took the Nasdaq 15 years to get back to 5000.

[Klangburg]

Weekend Dip incoming as usual.
Let's see what happens next week. Good times for day trading!

[Fatunad]

I can see the red everywhere now. So I think we may see the next big dump for the whole market. I am pessimistic and don't know when this downtrend stops.

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Its not surprising anymore and it does really happen on crytpomarket if you see red and if you see green its all normal to me already since market do work on this way. Dump might really happen anytime soon and yes its not over yet there would be still dumps and pumps and its been part always of a healthy market.Moving prices does indicate that there are interactions between sellers and buyers.In able to make money on this one we should really be smart to go with the flow.

[waynechong1995]

I agreed... history would repeat itself, probably back to around $1500 before skyrocket again.

[shade_wrath]

Still, the dump didn't meet expectation. Just warming my seats and getting ready to do some shopping .. market deserves to fall more .. already 77 billion cap now .. 

[styca]

One thing I'm really concerned about is how people prepare for the August 1 BTC shenanigans. Many people are advising to take all BTC out of exchanges. If such is the case, altcoins are going to tank in value because there is significantly reduced amounts of Bitcoin to be purchasing the alts with. There's a lot of evidence to support this actuality.

Yeah, in some exchange the admins are advising to withdraw too (example: the rock trading  https://medium.com/the-rock-trading/the-rock-trading-and-bitcoin-hard-fork-8e31f82faf88 ). Lot of people think they're going to double their coins but it's possible that some exchange will only support one chain (core probably) and not the fork (if it's happening) so maybe the wallet management will be difficult on those days.

There is a very real possibility that volume is going to grind to a halt. What that means is everything is going to come crashing down. Seriously. The best bet may be buying into XCP, WAVES, and other platforms with their own dedicated altcoin exchanges to use as altcoin tender for the time being. They might be the only coins to surge on through.

Yes, there will be a lot of withdrawals and much reduced volume. However I think there are a lot of people who bought Bitcoin as a long-term investment and know very little about the tech and the market, don't follow developments, and leave their coins on exchanges, just checking back once or twice a year. So I don't think everyone will withdraw.

I'm sure that the markets won't recover until the bitcoin situation resolves (or looks to be resolving), and whether the solution is long-term or simply a stopgap. Plenty of questions at the moment, which means uncertainty, which means the bear continues. One question is how much farther can everything fall before stabilising? And one bitcoin question at the moment I suppose is how much of the Seg2x signalling is genuine?

[maydna]

I agreed... history would repeat itself, probably back to around $1500 before skyrocket again.

if its really down to $1,500, many traders will panic and they selling bitcoin so fast. i hope after down too deep, price will back and increase so traders which bought at that price, will make big profit. but i think market will not stable in august after segwit until the end of august and after august, altcoin will recover the price.

[shafi alam]

I think market is too much high situation now. Its probably getting down.  and i think it will stop in its Support lavel. And than market will be stable.

[Celebrity]

I agreed... history would repeat itself, probably back to around $1500 before skyrocket again.

if its really down to $1,500, many traders will panic and they selling bitcoin so fast. i hope after down too deep, price will back and increase so traders which bought at that price, will make big profit. but i think market will not stable in august after segwit until the end of august and after august, altcoin will recover the price.

That's the idea basically. If we guess that it could be down to $1,500, it actually goes down to $1,200 or so. This is the panic situation. More sell orders trigger new ones eventually. And finally we observe a huge dump on the market.

[Siren]

I agreed... history would repeat itself, probably back to around $1500 before skyrocket again.

if its really down to $1,500, many traders will panic and they selling bitcoin so fast. i hope after down too deep, price will back and increase so traders which bought at that price, will make big profit. but i think market will not stable in august after segwit until the end of august and after august, altcoin will recover the price.

Every trader is on its feet and will not hesitate to push the sell button if they see the price is dumping so fast. We don't know what's the price floor, it might be below $2000 or even as low as $1700. Ethereum might go at $150. But I hope that everything will go on smoothly again after Aug 1. So that everyone will recover including our precious altcoins.

[cotton ball]

I agreed... history would repeat itself, probably back to around $1500 before skyrocket again.

if its really down to $1,500, many traders will panic and they selling bitcoin so fast. i hope after down too deep, price will back and increase so traders which bought at that price, will make big profit. but i think market will not stable in august after segwit until the end of august and after august, altcoin will recover the price.

Every trader is on its feet and will not hesitate to push the sell button if they see the price is dumping so fast. We don't know what's the price floor, it might be below $2000 or even as low as $1700. Ethereum might go at $150. But I hope that everything will go on smoothly again after Aug 1. So that everyone will recover including our precious altcoins.

Announcement from market trading who advised not to trade on August 1st until further announcement, which means the result of indirect hardfork will stabilize bitcoin prices indefinitely, but I agree with you, the market needs to recover soon, but we cannot speculating nothing at the beginning of next month.

[ClaraLuV]

Weekend Dip incoming as usual.
Let's see what happens next week. Good times for day trading!

That is what i thought so the market is going down for more than a week and you expect a recovery in the next week,it is highly unlikely,there might be coins that will be increasing in the mean time but the over all market will go down in the coming weeks.

[eaLiTy]

Yes, OP is correct. We are not yet done with the dump. Bitcoin will reach the 1900usd to 1800usd first. I think this is the dip. Then we will proceed to 2000usd to 3000usd... 4000usd... Then next is history. Checkout the July 2015 and 2016 bitcoin chart, the chart will just repeat itself.

It is that easy to look at the charts and predict the price,to my knowledge the reason for the price dump during 2015 and 2016 are entirely different than we have right now,there is a possibility of a network split and that is the difference between all those price dumps in the past.

[styca]

One thing this dip shows is just how reliant every alt is on bitcoin. Uncertainty around bitcoin means price drops across the whole market. At some point in the future, alts will be able to stand on their own. But at the moment, any developments or good or bad news for an alt is pretty much irrelevant. Bitcoin casts a long shadow, and determines everything.

[ChironRegera]

Another day with lots of red!

[Kolder]

Another day with lots of red!

This red days will over a few weeks after august 1. This is very depressing for traders like me but we can't do anything except for believing and holding bitcoin. Price will be stable soon. 

[abayan]

Another day with lots of red!

This red days will over a few weeks after august 1. This is very depressing for traders like me but we can't do anything except for believing and holding bitcoin. Price will be stable soon.  

Im hoping also that happens as soon as August 1 split finish and to have no negative effect on bitcoins. I take the chance of buying some altcoins from my last Bitcoins in the wallet for some safety in this august . Many believe in bitcoins so dont worry although it is hard to see that the market was dump it willrecover soon.

[spiz0r]

I also think this is just the beginning. More dumps will come soon.

My buy orders at $75 for ETH and $1200 for BTC. I think we can see these prices around the last week of July. Also I think the prices will be bounce back around 1st of August.