Bitcoin on the LOW!

[timerland]

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

Panic selling is completely normal in a bear market like this. It's not anything unexpected.

The same goes with FUD and just bearish sentiment overall within the market. They are both pretty much expected components within a bear market. As long as you don't buy into the panic, you are fine. What people do with their money is completely up to them, and it has been proven time and time again that the sentiment of the market is usually irrational in volatile times like bear and bull markets.

The logical thing to do right now isn't to panic sell, but rather to slowly accumulate with dollar cost average as your primary technique. We're approaching support at $5.8k and prices are generally extremely cheap. Holding and buying rationally in anticipation for the next bull market seems like the most profitable action right now.

[1714906422]

1714906422

[1714906422]

1714906422

[BlueStackz]

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Than the price goes up and they are looking back on it and say "I wish I bought at 100$", well I don't know about 100 but you could have bought at 6k.

Same people also bought bitcoin when it was 20k and thought it would go up when we said it is too much now they should sell and take the profit, this "buy low and sell high" seems a lot harder for people's emotions than it looks, simple sentence but hard to execute for some people I suppose.

[adaseb]

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Than the price goes up and they are looking back on it and say "I wish I bought at 100$", well I don't know about 100 but you could have bought at 6k.

Same people also bought bitcoin when it was 20k and thought it would go up when we said it is too much now they should sell and take the profit, this "buy low and sell high" seems a lot harder for people's emotions than it looks, simple sentence but hard to execute for some people I suppose.

Yes and this is why its called speculation and trading because nobody knows what will be the bottom and what will be the top.

Generally when BTC keeps going lower and lowers, its easier making money trading it short.
When it goes up and up and keeps creating new ATH, its easier making money trading it long.

Hence the reason why there are many bears right now and why everybody was bullish at $20K.

Problem is there will be a reversal eventually but the question is when.... and at what price.

[V1saya]

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Than the price goes up and they are looking back on it and say "I wish I bought at 100$", well I don't know about 100 but you could have bought at 6k.

Same people also bought bitcoin when it was 20k and thought it would go up when we said it is too much now they should sell and take the profit, this "buy low and sell high" seems a lot harder for people's emotions than it looks, simple sentence but hard to execute for some people I suppose.

Yes and this is why its called speculation and trading because nobody knows what will be the bottom and what will be the top.

Generally when BTC keeps going lower and lowers, its easier making money trading it short.
When it goes up and up and keeps creating new ATH, its easier making money trading it long.

Hence the reason why there are many bears right now and why everybody was bullish at $20K.

Problem is there will be a reversal eventually but the question is when.... and at what price.

An ETF approval next month would spark another FOMO and should probably reaches another ATH. A rejection means another shorting. But sometimes market makers will as much as possible confuse people so they can collect money before its true price direction.

[honghe99]

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

[DMCR lah]

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

it's a brilliant strategy, but when you want to buy you will be faced with the lowest price problem. many people want to buy at low prices but they are not aware if the price is recovering.

[reactorjuno]

The 6800 price is a strong bullish signal, it has proved many times to be a support and resistance. The price is good now and patience is the key word ...
The only thing that will make me sell against my will now is if we go below 5700, so we are good for now. I also think Bitcoin price will remain between 6800 and 7200 for a while before we see a dramatic change (hopefully up).

[sakrosak]

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

it's a brilliant strategy, but when you want to buy you will be faced with the lowest price problem. many people want to buy at low prices but they are not aware if the price is recovering.

if you want to be a trader you have to get rid of greed, many people suffer losses because they hold on too long. I have experienced when the ETH price is above $ 1k.

[reactorjuno]

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

it's a brilliant strategy, but when you want to buy you will be faced with the lowest price problem. many people want to buy at low prices but they are not aware if the price is recovering.

if you want to be a trader you have to get rid of greed, many people suffer losses because they hold on too long. I have experienced when the ETH price is above $ 1k.

Agreed. Typical strategy to be a profitable trader is:
Loss = 1
Profit = 2
Which means the stop loss price is extremely important, I am pretty sure 90% of the traders don't stick to this rules and that's the reason why they'll never make money in the long run. Or they will but because luck comes into play from time to time. But you don't want your earnings to be the sole result of luck.

[Pursuer]

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

you  shouldn't have been bag holding altcoins in first place. about 7-8 years of altcoin history is more than enough to tell you that.
as for USDT, be very careful with this altcoin. it is not as safe as you may think. it has become very popular and majority of the market, specially altcoin traders, are using it but this token is still pretty risky because it is a centralized coin which may not even really be backed by real US dollars. and the company issuing them has been known to be shady.

[geopolisch]

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.

What surprises me the most is when a lot of people see some quick growth in the market, they start calling for the moon. Sure, the market shows some bullish sign at the moment looking at the divergence as well as crossover on MACD, and most of the alts also trying to gain some ground in those moments.

I feel we may see a little rally towards the upper part of the wedge around $7300 or thereabout, but I still have at the back of my mind, the bears may still want to take one last attempt on that $6k region which may end up not holding. All in all, I guess we have to enjoy the current moment.

[richminded]

The 6800 price is a strong bullish signal, it has proved many times to be a support and resistance. The price is good now and patience is the key word ...
The only thing that will make me sell against my will now is if we go below 5700, so we are good for now. I also think Bitcoin price will remain between 6800 and 7200 for a while before we see a dramatic change (hopefully up).

Why you will sold at a loss? $5700 price will not happen with bitcoin. I strongly believe on that but of course there are still possible that we can go below $6500 level again since a lot of people are waiting for the ETF maybe if we hear negative news about it again, expect the price to dump hard. Don't panic it will just make the situation more worst. Hold your bitcoin for long, and never sold it at a loss.

[reactorjuno]

The 6800 price is a strong bullish signal, it has proved many times to be a support and resistance. The price is good now and patience is the key word ...
The only thing that will make me sell against my will now is if we go below 5700, so we are good for now. I also think Bitcoin price will remain between 6800 and 7200 for a while before we see a dramatic change (hopefully up).

Why you will sold at a loss? $5700 price will not happen with bitcoin. I strongly believe on that but of course there are still possible that we can go below $6500 level again since a lot of people are waiting for the ETF maybe if we hear negative news about it again, expect the price to dump hard. Don't panic it will just make the situation more worst. Hold your bitcoin for long, and never sold it at a loss.

I won't be in the red zone even at $5700 as I bought at a lower price than that, but I really don't think it will happen anyway, I was more expecting a correction to circa $6500, and we'll overtake $7,000 again in September. I posted my theory already about manipulation by the CME.

[sunanbonang]

some people like to see a decrease in bitcoin prices, because they use that moment to buy as much bitcoin as possible. and they will hold until the price rises again.

[wuvdoll]

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Some of these things are normal since a lot of people usually do not have pretty much good knowledge to be able to make any decision in the market and considering the volatility of the market, they are usually always scared not knowing what could be happening next.

For instance, someone said on this forum that he has been buying the dip right from $14k and still buying the dip until now without knowing if the market could still go down the more. It is still a good opportunity for those who understand the long term opportunities, but for some, that is something they really are not after, except to want to get rich overnight.

[Maddinson100]

I love these topics, they start a topic stating how bitcoin is low and before even the second page comes around you get a price spike in bitcoin and all of that is for nothing, lol. I mean this is bitcoin, yes sometimes it is low, sometimes it goes high, it is a volatile market we are in and there is no reason to get excited about on both of them since the other will be just around the corner to balance things out. I think anyone who considers buying should wait a week or so and see if this increase in price is here for staying or will it have a correction in price back to $6k levels once again before deciding on buying.

[phpartisanmaster]

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

If you always tend to panic in the market then you will keep on losing your investments, the best thing to do is just hold your coins and read different positive speculations to boost your self on holding your coins.

[BitHodler]

I mean this is bitcoin, yes sometimes it is low, sometimes it goes high, it is a volatile market we are in and there is no reason to get excited about on both of them since the other will be just around the corner to balance things out.

Can you point me to any price level this year that was actually low according to you? In my book we haven't seen the price be undervalued at all this year, and for that reason don't understand all this panic.

If the price was actually undervalued the market would have bought it up again in a quick fashion. Historically Bitcoin spends more time being overvalued rather than undervalued, and that applies to current levels as well.

I consider prices around the $4000 mark to be undervalued and thus an extremely good buy. $5000 is a good buy, where buying at current levels is more like a 50/50 bet in all fairness.

[Cacingkemi]

At present the demand in the market is quite good and I don't think this has come down,can all see in the previous year new hardfork have sprung up on BTC and that is increasing demand rapidly in the market.I think if want to go up there must be a new project breakthrough so investors are interested in push prices,clear now is a positive trend.

[Slow death]

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

Did you know that to make trade is as if we were in the war? How do you think people buy low and sell high? someone will always give up and sell low because they could not stand the pressure psychologically, and another person will profit because he had the calm, patience to sell at the right time. Often you will hear comments like "the price will fall to 3000 $" this may be a strategy that some people are using to make the price fall for them to buy cheap

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.

You keep spreading your poison.