BTC/USD dangerously close to $8,000, but HODLers never give up

[Xenrise]

I think I just need to wait for the bullish season to come. Probably it might occur after this month as per the history of bitcoin itself. I might experience ups and downs in here but that is the life in here, so be it.

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[ceferov]

I don't think it's dangerous. Last time BTC showed a big resistance at $8000 level. And whole market looks bullish to me. Not any serious FUD yet. I believe we will break $10k in a month. Only my opinion

[candolbitcoin214]

Bitcoin has lost nearly 6% over the recent 24 hours, crashing from  $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.

Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319

You valuable thoughts are much appreciated.

Well for me this is a normal price movement..We have been in constance growth of price no matter how slow it is but its still good movement. Now if it slightly went down to the 8k level I think this is just normal down trend but Im pretty sure it can catch uo and im quite sure 10k price  will be break this month of May.

[1Referee]

I think I just need to wait for the bullish season to come. Probably it might occur after this month as per the history of bitcoin itself. I might experience ups and downs in here but that is the life in here, so be it.

Bullish season? In order to initiate a bullish season we need to have an underlying bullish event being the driving force behind it.

The problem with all people's expectations is that they can only disappoint with how much they expect to happen this year. I constantly see people mention how low the current price is, and how they believe it will reach $30,000-$50,000 before the end of this year, but that's all noise. If they really believed that the current price is low and that a massive increase is due, they would have bought up the market, but that's not happening.

The market is waiting for that important trigger, and as long as this trigger doesn't show up, we won't be going up that much, it's that simple. People can't and shouldn't expect the market to go up out of nothing. Just be honest, what's there to go up for in the very short term?

[thecodebear]

I think I just need to wait for the bullish season to come. Probably it might occur after this month as per the history of bitcoin itself. I might experience ups and downs in here but that is the life in here, so be it.

Bullish season? In order to initiate a bullish season we need to have an underlying bullish event being the driving force behind it.

The problem with all people's expectations is that they can only disappoint with how much they expect to happen this year. I constantly see people mention how low the current price is, and how they believe it will reach $30,000-$50,000 before the end of this year, but that's all noise. If they really believed that the current price is low and that a massive increase is due, they would have bought up the market, but that's not happening.

The market is waiting for that important trigger, and as long as this trigger doesn't show up, we won't be going up that much, it's that simple. People can't and shouldn't expect the market to go up out of nothing. Just be honest, what's there to go up for in the very short term?

Judging by the news and the talk in the financial industry, this event seems like it will probably be the Big Money from institutional investors coming in and financial firms opening up Bitcoin trading to their clients. It appears this will start before the end of the year. Any smart money on Wall St will be moving in to Bitcoin before things start heating up again, which basically means it'll be a race between them. Even before that Bitcoin should continue to be on a slow bullish trend. Once the bullish trend starts FOMO will do the rest.

Personally I think it'll take anywhere from 6 months to a year before we enter another bull run, but in the meantime the general movement will be slowly upwards. Right now the base level of support is 8000. It'll slow continue to move up.

[exstasie]

I think I just need to wait for the bullish season to come. Probably it might occur after this month as per the history of bitcoin itself. I might experience ups and downs in here but that is the life in here, so be it.

Bullish season? In order to initiate a bullish season we need to have an underlying bullish event being the driving force behind it.

Nope, the only thing that truly matters is supply and demand. All you really need for a bull market is for sellers to stop selling, all else equal. A "bullish event" can help catalyze a breakout, but the underlying accumulation vs. distribution is much more important.

The problem with all people's expectations is that they can only disappoint with how much they expect to happen this year. I constantly see people mention how low the current price is, and how they believe it will reach $30,000-$50,000 before the end of this year, but that's all noise. If they really believed that the current price is low and that a massive increase is due, they would have bought up the market, but that's not happening.

These people do believe the price is low. But they don't have any money left; they're already all in and probably underwater. It would be much better if everyone was bearish and had already sold.

[cellard]

We have the 50 day moving average, then the 25 day moving average as the further resistances, if these don't hold then we may go lower, but I wouldn't start getting worried unless we went below $1000.

$1000 is possible, but are you willing to take the massive risk to miss the boat? Bitcoin is not going to leave, the fluctuations against fiat are meaningless and temporal, and these in charge know that fiat is dead, and will therefore use any possibility of a dip to stack up. Timing perfect dips is impossible, you might miss out badly.

I would be buying at every $500 decrease all the way down, but consider Bitocin can start going rocket mode at any random time towards a new all time high.

[pooya87]

After Facebook and Google, now Bing bans Crypto Ads. Perfect FUD for bears to drop the price further.

FUD like anything else has a certain life-span. you can't use the same FUD and expect it to has the same effect as always. the first time it is big, the second time it is big but still smaller than the first. and eventually there comes a time when nobody cares about the same FUD.
for example the "China banned bitcoin" FUD is ancient now. and nobody cares about it anymore. they even tried changing it to "China banned bitcoin mining" but that still didn't change a thing.

[Siren]

Bitcoin has lost nearly 6% over the recent 24 hours, crashing from  $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.

Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319

You valuable thoughts are much appreciated.

This is not enough reaso to give up,this has been normal dump and pump issue this year and weve seen many things like this before,only those weak has been reacting for this bloody market,but for a real investors this is what they need.

And nice issue to tackled for the benefits of many of us here,who support and trusted bitcoin for many reasons

[GoldenLad]

Yeah, it's always advisable to always hold now when all seems odd. The better days are definitely coming. It's so unfortunate that so many HOLDers starts losing hope at the verge of the breakthrough. Many whom have expected bitcoin to keep on high rocking to it hit the highest price are quite disappointed when things aren't working their way. One is not expected to give up because losing hope means losing all your HOLDing days. 

[danim1130]

Yes that is the main purpose of the investors here in the bitcoin world to make profit and to show the world that bitcoin will never be faded as well as the people who invest on it. Hodlers will never give up cause they knew that it has a potential to be the future of currency.

[exstasie]

We have the 50 day moving average, then the 25 day moving average as the further resistances, if these don't hold then we may go lower, but I wouldn't start getting worried unless we went below $1000.

I'm hoping the 50MA holds here. There's definitely signs of bulls with dry powder here, but not sure whether it's enough. I stopped out of my longs when $9,000 broke down, still waiting for signs of life.

It already hurts pretty bad giving back the gains from $9,000-$10,000..... not sure I could stomach waiting until sub-$1,000.

$1000 is possible, but are you willing to take the massive risk to miss the boat? Bitcoin is not going to leave, the fluctuations against fiat are meaningless and temporal, and these in charge know that fiat is dead, and will therefore use any possibility of a dip to stack up. Timing perfect dips is impossible, you might miss out badly.

I have enough coins that I'm comfortable. So I'd wait the correction out before putting any fiat in; no reason to add the risk.

But if you don't own any BTC, it's always a good idea to buy some.

[Mahanton]

We have the 50 day moving average, then the 25 day moving average as the further resistances, if these don't hold then we may go lower, but I wouldn't start getting worried unless we went below $1000.

I'm hoping the 50MA holds here. There's definitely signs of bulls with dry powder here, but not sure whether it's enough. I stopped out of my longs when $9,000 broke down, still waiting for signs of life.

It already hurts pretty bad giving back the gains from $9,000-$10,000..... not sure I could stomach waiting until sub-$1,000.

$1000 is possible, but are you willing to take the massive risk to miss the boat? Bitcoin is not going to leave, the fluctuations against fiat are meaningless and temporal, and these in charge know that fiat is dead, and will therefore use any possibility of a dip to stack up. Timing perfect dips is impossible, you might miss out badly.

I have enough coins that I'm comfortable. So I'd wait the correction out before putting any fiat in; no reason to add the risk.

But if you don't own any BTC, it's always a good idea to buy some.

Accumulation when theres a dump would always be a good idea if you do have the capability.Why not buy? We know on what are the possibilities to happen ahead yet we know the potential of Bitcoin.Basing on TA recently i have seen that strong indicator of bullish movement to fade away where it do comes out to move its price on sideways or simply on accumulation period.I dont know if it would able to break that support on $7800.

[tomahawk9]

After Facebook and Google, now Bing bans Crypto Ads. Perfect FUD for bears to drop the price further.

Bing? LOL At least this lame attempt to spread FUD in the cryptosphere didn't have that big of an impact (it's very unlikely that this causes a massive sell-off), either because no one cares about Bing or because we we already in a downtrend. Nevertheless, the whole "news" made me laugh, the fact that Bing is so shit that they're trying to use this type of stunts to get free publicity on the news...too funny 

[bhadz]

Bitcoin would be the coin all the time that will has the most market cap and this is why the price is still quite good although it came from a correction.

After Facebook and Google, now Bing bans Crypto Ads. Perfect FUD for bears to drop the price further.

No one uses bing.
There's something wrong after the consensus conference, everyone was hoping there will be a bull run but it seems it doesn't have.

[Gotomoon]

Yes that is the main purpose of the investors here in the bitcoin world to make profit and to show the world that bitcoin will never be faded as well as the people who invest on it. Hodlers will never give up cause they knew that it has a potential to be the future of currency.

Definitely hodlers will never gives up as many believes price can always recover. It so happen many times btc swing down low. But usually bitcoin can increase and many users holds their btc.

[Superzpay]

Bitcoin would be the coin all the time that will has the most market cap and this is why the price is still quite good although it came from a correction.

After Facebook and Google, now Bing bans Crypto Ads. Perfect FUD for bears to drop the price further.

No one uses bing.
There's something wrong after the consensus conference, everyone was hoping there will be a bull run but it seems it doesn't have.

But still many holders have faith that the price of bitcoin will rise up. Consensus conference has brought the price at a good level 2 days ago but the current dip may be because of some whales selling off. By the way June is coming when the FIFA host country will allow their hotels to accept bitcoin for the payment in the hotels. I believe that in that time the demand of bitcoin will increase worldwide and the price will boost up to a highest peak.

[Slow death]

Bitcoin has lost nearly 6% over the recent 24 hours, crashing from  $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction.

this has become news on all bitcoin news channels, until it seems like it's the end of the world, I wonder: with this kind of news spread all over the internet thanks to our bitcoin news channels and adding the negative comments of certain people, how the hell is someone new in this crypto world will not panic and sell their currencies with losses? spreading this kind of news does not help at all, it seems that bitcoin is a failure when it is not

Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.

Of course this will always vary, why the hell are they constantly monitoring this?

[BitHodler]

I like how the speculation section here perfectly mirrors the sentiment on social media platforms. Everyone is saying that they will hodl through this 'bear market', but when the price slips further, coins will be sold instantly.

Hodlers (and I mean actual hodlers) don't bother opening threads or sharing their concerns, they just allocate time and resources to more rewarding opportunities in the meantime.

If you are in for the long term, what's the point of looking at how the market is jumping up and down? If you take advantage of the volatility with trading it's different, but aside from that there isn't anything you can do with it.

[figmentofmyass]

Hodlers (and I mean actual hodlers) don't bother opening threads or sharing their concerns, they just allocate time and resources to more rewarding opportunities in the meantime.

If you are in for the long term, what's the point of looking at how the market is jumping up and down? If you take advantage of the volatility with trading it's different, but aside from that there isn't anything you can do with it.

personally, i love markets. i love the emotion, and analyzing market psychology and reading sentiment. i allocate more than 90% of my holdings to cold storage---but even if i didn't own BTC, i would still chart it just for kicks.

so i'm a hodler but i'm also a technical analyst and trader. when the market dumps, i'm perfectly fine holding 90% in cold storage and using the rest to churn out more BTC. i'm in it for the long term.