[2018-03-09] Bears in Control, But Bitcoin Eyes $8K Defense

[TYPEcoin]

Bitcoin's 28 percent drop this week has turned the tide in favor of the bears, but a sustained break below $8,000 looks unlikely in the short-run, the price charts indicate.

Having registered losses for four straight days, CoinDesk's Bitcoin Price index (BPI) fell to a one-month low of $8,371 in Asian hours. The decline was in line with the bearish continuation pattern seen on the bitcoin (BTC) charts during the U.S. session. The sell-off has pushed the market capitalization of BTC below $150 billion for the first time since Feb. 14.

As of writing, the BPI is seen at $8,590. Despite the slight recovery from the session's low, the cryptocurrency is down 14.5 percent on a 24-hour basis, according to data source CoinMarketCap.

https://www.coindesk.com/bears-in-control-but-bitcoin-may-defend-8k-in-short-term/

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[davis196]

The bears have nothing to do with this price crash.This is just another combination of FUD and regulatory pressure coming from the western governments and central banks,that has an influence over the price.
Perhaps there`s a btc price pattern about this.At the first week of every month the btc price goes down,but it recovers untill the end of the month.We have to wait for a few months to see is this really a pattern.
Anyway,i`ve sold all my btc at 11,320 USD,so i couldn`t be happier.

[Kemarit]

The bears have nothing to do with this price crash.This is just another combination of FUD and regulatory pressure coming from the western governments and central banks,that has an influence over the price.
Perhaps there`s a btc price pattern about this.At the first week of every month the btc price goes down,but it recovers untill the end of the month.We have to wait for a few months to see is this really a pattern.
Anyway,i`ve sold all my btc at 11,320 USD,so i couldn`t be happier.

LOL. You made the right moved them. But how about how who still holds? This is really a bit disappointed for us but we can't do anything but continue to hold I guess. You also forgot to mentioned that the price going south has something to do with someone from Japan, dumping huge amount of bitcoin because he needs to pay the creditors.

http://bitcoinist.com/tokyos-bitcoin-whale-has-sold-400-million-and-thats-just-the-start/

And that put a lot of pressure in the current situation. So the bears took the top position again. The Binance effect is not that significant because they quickly made the necessary actions. I did this bearish trend was really brought by this Mt. Gox trustee who decided to dump everything at this critical moment.