Wtf Guys!?!

[LeGaulois]

The cryptos market can be surprising. Everything can happen in 24 hours. I am not going to panic in my basement because there is a 10% down in the market. When you survived to 40% down you can survive to anything lol.
With the summer holidays, I wonder what we will get

[Kylapoiss]

[The Sceptical Chymist]

I think this is what they call sort of a "dead cat bounce", and the bump we just saw that took the price up to $68XX was just that, a bump in an otherwise downward trend.  It's crazy, because I woke up and looked at bitcoin and we're now at $6181.  That's one hell of a drop in less than a day.

Luckily I'm not an active trader and don't own that much bitcoin.  And this is the main reason why--volatility and unpredictability.  But I imagine there are traders getting their asses handed to them left and right.  Hopefully (lol) bitcoin won't go much lower.  I have my fingers and toes crossed.

[richardsNY]

Small bulls and big bears are in the market now. It is hard to keep holding in this market state.

Why is it hard? It costs zero effort to adjust your mind and accept the market we're in. I have said it before, the thing with crypto is that regardless of how much the price has gone down, it will go down far lower if the momentum is there. Momentum works in both up and down direction -- last year we experienced the up direction and this year we're going down. Peaks were no peaks because the price kept going higher and currently bottoms are no bottoms because the price keeps going down more. There is little room left for backup at this point -- $5999 means we're going down way lower....

[Hazaki]

By this time and after all what happened in these past 6 months i guess such dips doesn't surprise me anymore and have become a sort of a ritual that happens each week . I have had a talk with a friend when btc was dropping to 13k and i told him we should stop looking at charts and numbers if it goes down to 9k and stop all trading activity , and that's what i have been doing to avoid the mini heart attacks all the time ..

[recoal]

I mean I had my fair share of bumps in the head when it comes to holding cryptos...  But really, right when you think it's gonna be ok, a dump happens.  It's like the trading gods are saying:  'Nah-aaaahh'. 

i think someone is definitely controlling the price otherwise it will not swing like this. even someone wants to dump a big amount ..... why don't they auction it?

[BrewMaster]

my theory is that this dip that we are seeing in the past couple of hours is a testing of the buy supports and possibly there are some bear whales that are trying to see if they can do one final push down on the market and get their way. will they be successful? i give it a 20% chance.

i also think that the altcoin dumps, specifically the Ethereum panic dump that has started recently because of the new ICO bans is causing a lot of money to exit the market and we all know it always runs away through bitcoin and crashes its price.

[vibingpositively]

I think this is what they call sort of a "dead cat bounce", and the bump we just saw that took the price up to $68XX was just that, a bump in an otherwise downward trend.  It's crazy, because I woke up and looked at bitcoin and we're now at $6181.  That's one hell of a drop in less than a day.

Luckily I'm not an active trader and don't own that much bitcoin.  And this is the main reason why--volatility and unpredictability.  But I imagine there are traders getting their asses handed to them left and right.  Hopefully (lol) bitcoin won't go much lower.  I have my fingers and toes crossed.

I have my eyes crossed too, in case that helps . But seriously if you are in this game you gotta be able to stomach this kind of stuff day in and day out. I too was shocked to see Bitcoin near 6k today upon waking up, as things seemed so bright yesterday. But alas I don't care about intraday swings and focus more on the long term. As long as Bitcoin doesn't zero out, I say let's keep playing.

[funbarrel]

I mean I had my fair share of bumps in the head when it comes to holding cryptos...  But really, right when you think it's gonna be ok, a dump happens.  It's like the trading gods are saying:  'Nah-aaaahh'. 

i think someone is definitely controlling the price otherwise it will not swing like this. even someone wants to dump a big amount ..... why don't they auction it?

Well yeah, people are controlling it. People and no one else that is why it is so beautiful. If people are not interested as much at the moment, the price goes down and it is fair enough, let the weak hands get rid of it.

[medussa]

It is sad to see another  market crash.one wonders when it will all end

[Febo]

I mean I had my fair share of bumps in the head when it comes to holding cryptos...  But really, right when you think it's gonna be ok, a dump happens.  It's like the trading gods are saying:  'Nah-aaaahh'. 

What bothers me is that I spend few hours now here and on IRC and on Reddit but could no find any reason why. Usually with 10% price decreases there is some reason. A resnoble or not. but still a reason. Now I dont see anyone shouting it. I guess I will have to dig deeper to find.

[exstasie]

I was open to some bearish scenarios, but I really didn't expect to be teetering just above $6,000 so quickly. Brutal dumps today.

If it came to it, I figured we'd reverse off a retest of the lows, simply due to mean reversion if nothing else. It's been a long time since we had any sizeable bounce.

Still looking for that bounce here but.... both the 1-day and 1-week also look like they could run. Drip drip.

[Bardman]

It's so much better to trade and not care about this crashes, in fact they are useful and profitable for traders. I see people here usually only hold and they get really nervous and scared when the market falls. You guys are either using money that you can't afford to lose or you are holding for too long for no reason.

[tokeweed]

There it goes again, right when you're thinking it's 'OK'...  Now I'm thinking there's some early 'hodler' (Draper?) selling it down or it could also be one of the early ICO's (the Vitalik Group?).  Whoever it is (or they are), he (they) sucks.  I hope they run out of BTC to sell asap. 

[Johnzky]

Each and every crypto holders and investors were much happy with the price increase that took place recently taking the price above $6800. All of the sudden the happiness has got washed off from every user as the price decline has begun in a very small time period. Such price pump and dump is good for traders, but here that too is highly difficult if there no time available between buying and selling.

Same scenario as what happened today,from $6,800 last night and now dump to $6,300 again and this is the frustrating from those who believe we can break $7,000 atlast ,and i believe this will happen again and again until the end of year,and December is the final destination if we will become rich or more poorer

[cellard]

"BUY THE DIP GUYS!"

"THIS IS THE BOTTOM GUYS!"

"WE ARE ENTERING A NEW BULL MARKET!"

So, how did that work out? LOL

Here's a quick fact. People in the real world don't want your fantasy imaginary money that can be hacked at any moment and offers no privacy whatsoever.

The mighty kwuckduck is here in one of his multiple alt accoints. This is always a bullish sign, puts a smile into my face seeing the ducks come back into the lake when there are dips. Just be ready to buy if we keep dipping, simple as that. Kwuckducks are going to be kwukducking no matter what. When we go to to a new ATH the ducks will disappear again and wait for the next ducking season.

Either we get past $7k soon or we'll dip, ideally $3k bottom to go all in.

[richardsNY]

There it goes again, right when you're thinking it's 'OK'...  Now I'm thinking there's some early 'hodler' (Draper?) selling it down or it could also be one of the early ICO's (the Vitalik Group?).  Whoever it is (or they are), he (they) sucks.  I hope they run out of BTC to sell asap. 

I think that a very underestimated point of Bitcoin going down is that altcoin whales might indeed be cashing out. If we look at all the available altcoin markets, and then directly the liquidity offered, it's extremely poor. The only way to cash out without tanking their own market down (and lose value) is to sell to Bitcoin and then cash out in fiat. It's impossible for any whale to keep a large chunk of his gains in something that will lose the majority of its value later on. Bitcoin will always be subject to the negative consequences of altcoins, because even when you don't need to buy Bitcoin anymore to enter the altcoin market, you need it to cash out because of its liquidity.

[mwaqar17]

yeah....whenever you are going to open coimarketcap you will get a new shock. I don't what is happening in the market. From last 8 days everyone was little bit hopeful that market is going towards 7000$ but today suddenly it took even more deep turn. Now it is really testing patience of crypto investors

[BitcoinNewbie15]

yeah....whenever you are going to open coimarketcap you will get a new shock. I don't what is happening in the market. From last 8 days everyone was little bit hopeful that market is going towards 7000$ but today suddenly it took even more deep turn. Now it is really testing patience of crypto investors

Could be a bear trap... If we continue downwards and breach $6k again then I'd say we are definitely still in a bear market and will continue to move downwards. Really the only thing we can do is wait and see, but I am quite disappointed in this drop today. Maybe we are just having one final dip before the official reversal happens? A guy can hope, right? 

[Shinpako09]

There it goes again, right when you're thinking it's 'OK'...  Now I'm thinking there's some early 'hodler' (Draper?) selling it down or it could also be one of the early ICO's (the Vitalik Group?).  Whoever it is (or they are), he (they) sucks.  I hope they run out of BTC to sell asap. 

I'm thinking the same way. We haven't reach $7k yet the price goes down again a few hundred dollars. I thought we're going to see $7k before a fall. Pretty sure man, some people are in panic again with this few hundred of bucks that has been decreased in price.