Bitcoin on the LOW!

[dupee419]

August 8, 2018, Bitcoin is ongoing, the flow is outrageous as some people have said, the price continues to go down, the price exactly went down today at $6,401.30, A lot of people are panicking and are being boggled by the price, and I think that most of these people who are panicking right now are probably those who are not informed, and those who are just going with the flow of what the community thinks about the current state of BTC. You guys need to completely calm down and stop making your own opinionated statements about BTC's future and of its price, now it is obvious that even if a lot of people will think that the price is completely fine, and will improve soon, sadly, on the other hand a lot of people are inventing or making these false accusations, generally speaking, some people in the forum are completely making doubtful thoughts about BTC's progression, some may say that the price will go way down and will continuously go down, until it DIES. And I just cannot believe my eyes, a lot of people have panicked, selled their holdings right away, and are just straight up scared with the current situation right now, and lastly before you reply, be sure to check legitimate websites that are exclusively giving updates on what to know and what to avoid during these kinds of situation, and most likely to check the price and flow as well.

Give some additional statements about this, correct me if I am wrong in some parts, it would be a big help.

This link may help you get updated within the current issues and news revolving around the marketplace and especially BITCOIN:
www.coindesk.com/bitcoin-outlook-sours-as-price-sheds-70-of-recent-rally/

CHEERS!  

[First77]

Bitcoin holders who have 4,000,000 Bitcoins purchased before 2011 for $100 or $200, they have the Bitcoin market.

When they sell, bitcoin is going to $2000.

[cold cool]

Today was probably the most desperate day for the price of BTC, suddenly down 10 percent, the market is getting weaker and the prices of BTC and altcoin are also falling sharply, with many investors selling off their encryption.

[krasheed11]

Don't worry hold for long term

[Dexion]

I have predicted that the decline in bitcoin will happen again, and I did not feel happy when Bitcoin reached $ 8200 a few days ago. because I know how volatility the crypto market today.

some people feel happy and say that the correction will end and welcome the bullish market.

but their hopes are lost when bitcoin drops again. bitcoin only gives a fake bullish market.

I am laughing.

[qiman]

You don't even need to own Bitcoin to short it. Those whales in Bitfinex and Derivatives and Futures market are making billions of dollars each day shorting the market. They make Bitcoin go up and pretend we are going bullish then as soon as people start having some hope of a bull run, they pull the plug and as long as they can make money like this every month and bleed the market out of all the little fish, they will keep doing it. They do not care about the technology , nor do they care about others. They care to make billions and steal all the wealth from all the new people coming in.

[Kuga_ZA]

Good time to buy and accumulate more right now. BTC is on a fire sale!

[frowsiter]

I don't understand the point of this thread, are you saying people are panicking because they just don't get it or are you saying it's all part of the math and it should rise.

I believe he is saying that current market is going down and people are panicking for that reason. I mean this is just the same thing as we would always see when the market is going down and unreasonable people that is weak handed one's will start panic irony and will always get more overwhelmed with the current situation. I guess this is what we are speaking here and this thread particularly. I think this time people might have gotten crazy about the current situation because everyone was so relaxed after seeing the market recovering itself so nicely and suddenly the mega dump occurred.

[Kemarit]

The declined of the price has something to do with the delay/postponement of the SEC decision on the Bitcoin ETF. Just imagine what will be the impact it would bring if there is a rejection. And it looks like its creating a lot of panic, I really don't understand those people who will suddenly push the sell button. And I'm sure that the first one to panic are those people who are very bullish about bitcoin in the last couple of weeks. This is just another bump along the road, no need to panic guys.

[aqila baruroh]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

[First77]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

[Hobo66]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

We are not expecting the price to decrease more, I think that bitcoin price is getting a very good support at that price and that is the reason that we are not expecting anymore decrease in bitcoin price.

[omonuyak]

Up and down is the cycle of cryptocurrencies market and if we want to make it we have to follow the market.  Cryptocurrencies market has given great return to the day traders this days because of this cycle and you can really makes it by following this cycle.  Bitcoin is on a down ward trend since January this year and we should expect more of the bearish trend.

[babanana]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

Dont trust BITMEX. ITS a SCAM EXCHANGE

You will lose your money!

[wuvdoll]

Up and down is the cycle of cryptocurrencies market and if we want to make it we have to follow the market.  Cryptocurrencies market has given great return to the day traders this days because of this cycle and you can really makes it by following this cycle.  Bitcoin is on a down ward trend since January this year and we should expect more of the bearish trend.

I also share the same opinion with you. The market is still in a bearish state and like someone rightly said, though we may be in a falling wedge but the fact remains we are still in a falling wedge and until otherwise, we are still falling anyway. The market still have the potentials of going as low as $3k, but even at that, anyone can be wrong, but we should always put everything into consideration at the least.

We may be lucky to have some bullish momentum in this few weeks with altcoins, but I would still be very careful knowing the state and condition of the market. Probably, with bitcoin holding above $6900, this may be a good sign enough for the alts to have bullish activities. But, until we are having double to triple confirmation, it is highly recommended not to invest big still keep buying on dips at low amount is highly recommended.

[Herbert2020]

The market is still in a bearish state and like someone rightly said, though we may be in a falling wedge but the fact remains we are still in a falling wedge and until otherwise, we are still falling anyway. The market still have the potentials of going as low as $3k, but even at that, anyone can be wrong, but we should always put everything into consideration at the least.

a bearish market is when price goes down, the falling wedge is also when price falls down. but price has not been falling down for a very long time. if you look at the charts price has been in $6k range for the whole August and it has not gone below the bottom ever since we hit $5900ish back in February (6 months ago). technically the drop has been over for about 3-4 months at least. we have been at the bottom at a consolidation stage.

it is true that a drop to lower price is possible but being possible doesn't mean we are in a bearish market! a lot other things are also possible but the possibilities don't define the market and its trend. the trend itself defines it.

[onrise]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

Do not feel low the market has started to recover and reached 6900$+ . SO we can see soon we will be in range of 7k and move towards 8k in Sept . We require this momentum to keep on continue so that sooner we are back to the range of 10k+ where the people could be little relief and feel better as many have bough at those rates.

[Barbut]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

Do not feel low the market has started to recover and reached 6900$+ . SO we can see soon we will be in range of 7k and move towards 8k in Sept . We require this momentum to keep on continue so that sooner we are back to the range of 10k+ where the people could be little relief and feel better as many have bough at those rates.

Price was under 6,000$ couple times this year, but nothing serious, each time price bounced back over that mark and month ago we had price close to 9,000$, drop back to 6,000$ and now price is rising again. That is great for this year, comparing this prices and ranges with market behavior when I started to trade we are now very high, and we are setting up new bottom.
Bitcoin is on the low, this year will be the last year when people will be able to buy bitcoin under 10,000$, I think price will pass that mark until new year and in next year we will have higher bottom than this year. This is not a slow progress, every year we are higher and there is no reason for this rise to stop.

[el kaka22]

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

We are not expecting the price to decrease more, I think that bitcoin price is getting a very good support at that price and that is the reason that we are not expecting anymore decrease in bitcoin price.

We are not expecting anything. The market can decide to do as it pleases anytime. We may be seeing this as a very good support, and since the chart pattern shows a falling wedge which is usually bullish when it gets to break out, we still cannot state categorically if we have hit the bottom or not. As long as $5500 to $6200 is holding up as a strong support, we must conclude that we have already tested the bottom and no more further falling down will be possible unless otherwise earth breaking negative news hits out.

What I can see in the market currently is just mixed feelings and the market trying to decide where to go next, but for what it is worth, the signals may be bullish, but we both know it is not the first time signal ended up failing.

[aencarnaci]

The market is still in a bearish state and like someone rightly said, though we may be in a falling wedge but the fact remains we are still in a falling wedge and until otherwise, we are still falling anyway. The market still have the potentials of going as low as $3k, but even at that, anyone can be wrong, but we should always put everything into consideration at the least.

a bearish market is when price goes down, the falling wedge is also when price falls down. but price has not been falling down for a very long time. if you look at the charts price has been in $6k range for the whole August and it has not gone below the bottom ever since we hit $5900ish back in February (6 months ago). technically the drop has been over for about 3-4 months at least. we have been at the bottom at a consolidation stage.

it is true that a drop to lower price is possible but being possible doesn't mean we are in a bearish market! a lot other things are also possible but the possibilities don't define the market and its trend. the trend itself defines it.

I understand you perfectly well. But you also have to understand that we are still inside this wedge channel whether we like it or not, and the only reason I can ever change my bearish sentiment is when we are able to print out a higher high and higher low which so far all we still have is lower highs.

We may experience some bullish move in a short term which the market is showing signs, but that does not mean if you look at the longer time frame, the market is still not in a bear condition. It is interesting though to see this point has been holding despite bear attempt to squash that support, but until I can state categorically, that we have an uptrend, based on what the chart is giving and not just at the moment, then I will say we are still in a downtrend.