Current BTC price below 8K

[b3j0]

I think this is a common thing, when there is negative news then the price of bitcoin goes down. bitcoin prices dropped from $ 8500 to $ 7600, I hope this will not get worse.

[1714026448]

1714026448

[Pursuer]

then we had the big drop to $6k and now we have the follow up "correction" of that.

Yup, in theory it sounds wonderful. The only problem is that in reality some rich entities don't seem to want that "correction" start yet and keep pushing the price down.

I completely agree because I have seen this with my own eyes! it is hard to believe it sometimes.

and the only thing that helps me keep my faith in the market is believing that there will always be a balance between these "rich entities" that go against the market and the rest of the market which also consists of other rich entities who want a different thing.

[Shinpako09]

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Not really keep going because it stop at more or less than $7.5k. For me that was the reason of this decreased in price right now. Although others are saying with or without ETF, were going to have positive move. Still we can't stop others thinking negative about ETF rejection.

[ajqjjj]

I think this is a common thing, when there is negative news then the price of bitcoin goes down. bitcoin prices dropped from $ 8500 to $ 7600, I hope this will not get worse.

I think negative news are not coming on last week. But current drop is unexpectedly happen may be many peoples are selling the recent hype. It is affect the current market but again everyone buy the Bitcoin because they are all now potential of this coin. This month I expect 10k USD on end of the month

[Sherwood_Archer]

The ETF isn't really that big of a deal because there are many more down the line. I think there are at least 5 other firms pending approval right now, so eventually one of them will get through. It's not the only thing that bitcoin's price is hanging on

It's more about the overall big picture I think. Everything is starting to look promising because it broke above the downward trend it had all year. Once something breaks out, it oftentimes stalls right after that and retests the trendline, which is exactly what is happening now @ 7500 levels. Now it has to choose: drop back down below and go sideways for a while, or take a second jump for 9000-10000

[Btchunter3333]

I think bitcoin will go way up more after ETF. But the problem is when will be ETF approved. I think in September so just buy btc now.

[hatshepsut93]

The market is really sensitive to these ETF news now, so the current price moves shouldn't be surprising. The media have convinced noobs that we'll have a new bull run this year fueled by ETF approval, so speculators are selling every time an ETF gets rejected. I'm going to trade with small amounts just for fun and to test my skills, so far I've sold a bit at $8,300 and planning to rebuy at below $7,000.

[Tatzky]

I was just happy that Bitcoin didn't go down as low as 5k this months luckily from 6k it go up again in 8k plus, gat to say we have and you should buy now your Bitcoin since it may go higher again on the date we never expect...

[Tamboran]

The market is really sensitive to these ETF news now, so the current price moves shouldn't be surprising. The media have convinced noobs that we'll have a new bull run this year fueled by ETF approval, so speculators are selling every time an ETF gets rejected. I'm going to trade with small amounts just for fun and to test my skills, so far I've sold a bit at $8,300 and planning to rebuy at below $7,000.

So, plan short-term profit trading could be safe option for now, isn't. With price now below $8k, many people should be ready to take buy position before price bounce back, ETH affect always being media consumption that makes market react fast.

[bigdude]

Market reacting after some bad news even it just a delayed from SEC which almost can guess this result.
it'd take more than eldritch rituals to pull off a BTC rally if we close this week under 7,700
I'd say we need to maintain 7800 + to keep moving forward

[BrewMaster]

The market is really sensitive to these ETF news now, so the current price moves shouldn't be surprising. The media have convinced noobs that we'll have a new bull run this year fueled by ETF approval, so speculators are selling every time an ETF gets rejected. I'm going to trade with small amounts just for fun and to test my skills, so far I've sold a bit at $8,300 and planning to rebuy at below $7,000.

So, plan short-term profit trading could be safe option for now, isn't. With price now below $8k, many people should be ready to take buy position before price bounce back, ETH affect always being media consumption that makes market react fast.

you mean ETF not ETH!
and i don't know there is still a chance that by the deadline of this hyped up ETF we see a drop and up until that point we may see a lot of different things inclucing a big rise.
if you aren't already in then maybe it is best to wait because this is one of those times when market is mostly unpredictable.

[wuvdoll]

This is a critical place. I have been talking about how bitcoin needs to stay up so that altcoins can follow and if bitcoin stayed up long enough time than altcoins would follow and we would have a big rush of bull run. However it failed staying like that, I thought it stayed long enough but obviously I was wrong, now that its low it needs to get up and stay up a lot longer because people are afraid of the drops happening. Either bitcoin will go up to 8k or so levels once again and stay there for a while or we will see bitcoin dropping even further which will result us to get another rush of bear market and everyone panicking about the price and selling fast.

[welchmgra]

Market reacting after some bad news even it just a delayed from SEC which almost can guess this result.
it'd take more than eldritch rituals to pull off a BTC rally if we close this week under 7,700
I'd say we need to maintain 7800 + to keep moving forward

Yes in previous days it was just expecting that very soon bitcoin will cross 10000$ because investors after a long time became active but some factors restrict the bitcoin to increase and therefore now we are again waiting for the price to start increasing.

[gabmen]

Market reacting after some bad news even it just a delayed from SEC which almost can guess this result.
it'd take more than eldritch rituals to pull off a BTC rally if we close this week under 7,700
I'd say we need to maintain 7800 + to keep moving forward

Yes in previous days it was just expecting that very soon bitcoin will cross 10000$ because investors after a long time became active but some factors restrict the bitcoin to increase and therefore now we are again waiting for the price to start increasing.

Probably a considerable movement would start after august 10 and that wouldndepend on wether the etf would be approved or declined. If approved, i think we'll be well on our way to 10k fingers crossed

[Gadhoh]

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Why do people keep talking about that Winkelvoss twins ETF rejection all the time?This is old news.
The price is going down,because lots of crypto traders realised that this price increase trend won`t be stable and won`t last long,so they started to sell btc,in order to get some short-term profits.

And this is not new, we've seen BTC went even lower than $7k in the month of June, this is completely normal, haven't you been used to this? The price seems to go down and up, we should actually be thankful that even if it is a slow flow, we should be completely happy that it moved and did not stay at that mark, we should expect more ups rather than downs, this is normal and I'm sure it'll move up once again.

very drastically, the market like someone wears it, some time back has a very down price, rises a few weeks after that goes down again, if you have the same feeling different in the market maybe this is true there is a price manipulation.

[triciaa478]

It was predicted by many analyst that in the beginning of August the SEC will regularize bitcoins with the ETF and it seems it failure led to the confidence traders had about bitcoins. This is possible the cause of bitcoins reducing sharply recently.

[WiseFoxxy]

This is a critical place. I have been talking about how bitcoin needs to stay up so that altcoins can follow and if bitcoin stayed up long enough time than altcoins would follow and we would have a big rush of bull run. However it failed staying like that, I thought it stayed long enough but obviously I was wrong, now that its low it needs to get up and stay up a lot longer because people are afraid of the drops happening. Either bitcoin will go up to 8k or so levels once again and stay there for a while or we will see bitcoin dropping even further which will result us to get another rush of bear market and everyone panicking about the price and selling fast.

That's what I see too. It's a critical level but it doesn't have a strong reason to go below it, so we should stop posting nervous messages about ETF's and other assorted nonsense. A quick look at the speculation page will reveal how nervous everyone is about the price.

It's a tough time, yes. But it's not the end of the world. Bitcoin has a fundamental reason to be valuable and will continue to exist because of it's position. More tensions around the world will also make it more valuable as people want to avoid loss or devaluation.

8500 looks like the next major resistance. It'll probably stumble back up there shortly.

[Temujhin]

I think that is the usual thing that is experienced by the market now, it often even happens when prices only go up a little and go down again, I just think that many people predict that there will be an increase of up to $ 50k. Will it be real or just a speculation issue, because I am not sure about that prediction, yes I hope bitcoin will be bullish but definitely with a long period of time

[samycoin]

Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?

Yes it's true the reason of bitcoin down is because of ETF rejection. And we still hoping that this situation is be approved and be alright. And it's a big impact to bitcoin price.

[abanansah]

It is the ETF rejection that has caused that because the sudden rise in the price of bitcoin from 7500 price to 8000 and over was the confidence traders had in the upcoming exchange traded funds and there is a new twist that it is rejected.