Buckle Up: Bitcoin Price Heads For Below $2,000 As August 1 Nears

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Bitcoin has fallen almost 12 percent in 24 hours as the reality of the Aug. 1 scaling deadline unsettles markets.

Current trade prices according to Coinmarketcap, which averages readings from across major exchanges, shows Bitcoin at $2,076 - its lowest price for two months.

The knock-on effects for altcoins in the top 10 were as palpable as ever, with Ethereum, Litecoin and others following Bitcoin downhill.

Ethereum has fared particularly badly over the past week, with monthly losses to its market cap now nearly $18 bln.

As always, internal reactions with cryptocurrency were mixed, some despairing while others are eyeing a keen buying opportunity.
While a general consensus points to the upcoming hard fork probability as the principal motivation for market uncertainty, mainstream media have been quick to sound the alarm about Bitcoin once again.

“Rival factions of computer whizzes who play key roles in Bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month,” Bloomberg reported Friday, announcing Bitcoin could be “nearing a total meltdown.”

“That has raised the possibility that Bitcoin will split in two, an unprecedented event that would send shockwaves through the $41 bln market.”

[pixie85]

Instead of spreading fear like they love to do, those journalist should note and inform people that a split won't mean a total division, but two chains that can be used independently. We went down a bit, but note that Bitcoin is still in a long term uptrend. To break it we'd have to fall by another $1000.

[joshy23]

Instead of spreading fear like they love to do, those journalist should note and inform people that a split won't mean a total division, but two chains that can be used independently. We went down a bit, but note that Bitcoin is still in a long term uptrend. To break it we'd have to fall by another $1000.

Don't bother with those journalist, most of them write articles that are completely baseless and rubbish. I bet they just write because bitcoin is known more than ever and they are just riding the coat tail of it. Yes, the price is going down, but they didn't know that bitcoin price is unstable and price fluctuation is just part of the ecosystem. And after Aug 1, we are going the price going exponentially in the next succeeding months.

[Minecache]

So much FUD being spread it's pretty disgusting.

[cellard]

This was predicted, just look at what happened with the Ethereum/Ethereum Classic scenario. Barry Shillbert wants to hardfork Bitcoin supporting this segwit2x crap so he can profit from it just like he did with Ethereum Classic. And believe me, he has made MILLIONS from the Ethereum Classic pump and dumping, the piece of shit wants to repeat this again. And exchanges also don't give a fuck about Bitcoin, they just want more fees, so another ETH/ETC scenario makes fees go up. They don't give a shit about Bitcoin remaining sovereign, they just want USD profits. They are all the enemy.

[megynacuna]

So much FUD being spread it's pretty disgusting.

Yes, it's affecting the prices because there seems to be a lot of people that are panicking and selling as a result of those FUD's. I'm hopeful it wouldn't be as those FUD mangers meant it to be.

[~Bitcoin~]

So much FUD being spread it's pretty disgusting.

Yes, it's affecting the prices because there seems to be a lot of people that are panicking and selling as a result of those FUD's. I'm hopeful it wouldn't be as those FUD mangers meant it to be.

Recently many new traders/investors joined the crypto rally who don't have any deep knowledge on market so they are the one that are dumping hard right now even for losses.

They will cry later on for sure, I don't think we will have any chaos on actual date all this panic will be over on first week of august.

[JeffBrad12]

So much FUD being spread it's pretty disgusting.

Yes, it's affecting the prices because there seems to be a lot of people that are panicking and selling as a result of those FUD's. I'm hopeful it wouldn't be as those FUD mangers meant it to be.

Not only a lot of the people but it seems op is feeling panic and try to making those are omre panic. I think the price of bitcoin will be stable around $2000 until the hardfork will be coming as fast as possible and it should go down down below $2000 but not for the long time.  Too many FUD in this day make those are feeling scared.

[freedomno1]

Uncertainty brings opportunities for those who want to take it, the market is vicious in that sense it rewards those who decide to filter out any FUD and just put in positions in the long run.

[cellard]

The price continues to crash with a low of $1830, it's sad to see this spectable. We were on for a great run, if only we activated segwit with no drama, we would be so high right now, $5000 for sure, but the hardforkers had to ruin it all, now we are going down, the $2000 resistance is broken. Roger Ver, Jihan Wu, Gavin, everyone is responsible for this.

[aeternus]

It was going to happen one way or another, at some point there was going to be a showdown of the developers vs the miners this has been slowly coming and now it is the time to see who is going to win this battle for the fate of bitcoin, I’m with the devs but the miners are very powerful too.

[FiendCoin]

I have a hunch that whales are amplifying the FUD and take advantage of the situation to buy cheap BTC.

No shit, whenever someone sells, someone buys 

[NUFCrichard]

Europe is coming online after the weekend and the price is rising already. 
I expect that in the next 5-8h the price will rise quite a bit more, up to $2150 or so.

It oftens seems like the bears take advantage

[GRR]

I have a hunch that whales are amplifying the FUD and take advantage of the situation to buy cheap BTC.

No shit, whenever someone sells, someone buys 

Yep but it's not the same types of people that buy at different prices 

Only idiots sell their BTC now cheap and cry in 4 weeks when it reaches a new ATH. Ofc it is the whales, that cause drama and throw smoke grenades. Now there is smoke everywhere, but no fire. But that is enough to cause panic. Fodder for the whales who happily buy all coins now only to double their investment within some weeks to months. You can't make money easier than by feeding off hordes of weak investors. In the coming months there will never be a better point to buy cheap coins again that this.

[cellard]

I have a hunch that whales are amplifying the FUD and take advantage of the situation to buy cheap BTC.

Whales always take advantage of panic selling newbies in order to load up on cheap bitcoin, but this is like tensing a rope, if you tense it to much, it will break and it will cause a crash, so whales need to know when enough crashing is enough, because if too many resistances are broken, we are going to go 3 figures again..