Markets See Massive Sell-Off, Bitcoin Dips Below $5,600 for the First Time 2018

[pharaon]

Few could have imagined that the cryptocurrency market could collapse even more, within a few hours, but we need to be even stronger and more patient so that we can make a profit in the longer term. Also, it is not necessary to refer to the opinions of various experts and their forecasts, since they all cannot know how events will develop further.

[Insanerman]

LOL, why is it everyone starts panicking when the market is in bloodbath? Some might not going to agree with me but I see this as an oppurtunity to buy Ethereum at $175  , I just need a few more cents to get another 1 ETH!.

I hope the report will stay at the 2nd Quarter of year 2019 to get into the race.

[wahyu wida]

LOL, why is it everyone starts panicking when the market is in bloodbath? Some might not going to agree with me but I see this as an oppurtunity to buy Ethereum at $175  , I just need a few more cents to get another 1 ETH!.

I hope the report will stay at the 2nd Quarter of year 2019 to get into the race.

right, right now it is indeed an opportunity to invest, market up and down is a natural thing, where both are opportunities. when prices are high, then it's an opportunity to sell, don't expect market to always rise

[eroejoe]

LOL, why is it everyone starts panicking when the market is in bloodbath? Some might not going to agree with me but I see this as an oppurtunity to buy Ethereum at $175  , I just need a few more cents to get another 1 ETH!.

I hope the report will stay at the 2nd Quarter of year 2019 to get into the race.

right, right now it is indeed an opportunity to invest, market up and down is a natural thing, where both are opportunities. when prices are high, then it's an opportunity to sell, don't expect market to always rise

I agree with you two, we have to be patient, and also this could be great opportunity for buying more. I think that this is gift for us who wants to invest more.

[cryptocrusher]

-snip-

bitcoin get the negative effect form BCH supporter.and this is not good and could make bitcoin panic.it proved on bitcoin price right now.and we hope BAKKT trading launched could be solution for bitcoin price at this moment.

Bakkt or ETF's aren't going to suddenly reverse bitcoin's fortunes. The people who are likely to invest through these methods will be experienced investors or big institutions with many advisors, they're not just going to throw money at bitcoin, they'll wait until a good point to buy, if the market is still bearish they will wait until there's a clear sign of reversal.

[rickadone]

This week, market cap value decrease more than $25billions and its more than 10% in just one day. I am believe there is panic in market and makes peoples selling their coin below $6000. Its sad to see most coin and token price drop but i do believe it will bounce back

Well, see it this way, this week the market decided to give chance for the smart people to see a chance to buy in at a much lower price and then the dumb people to pave way for them and come back later on to join FOMO which is what will most definitely happen anyway.

This is crypto market, things like this should be expected, but instead of panicking and worrying over something you cannot change, why not look for the opportunity that is lurked within the happenings and be patient enough not to worry at all. The last time I checked, there is actually nothing worry helps in achieving except to make silly mistakes or do nothing to help your situation.

[d1ceplayer]

I remember looking at the price of bitcoin in the market seems like someone was pushing the price to go down below and it just happen within a couple of minutes. While some of them are trying to panic sell but the market are still going down until it stop at $5500 then suddenly rose up again until $5700 and that's it, it goes down at $5500 again.
So for me it is just some kind of a manipulation in the market to let other follows too and let others to panic sell.

The price was falling because people were selling off because of the Bitcoin Cash fork which will be happening soon. I’m not bothered, after the fork I’m sure that the price will even drop more than this. By that time it will get even more cheap for us to buy more and add to what we have. Then I can keep the coins and wait for when there will be a Bull run cause I’m very sure that after the fork there will be a Bull run, and that will be next year.

[BaraxLo]

I remember last time there was a discussion about bitcoin cash going on in the summer of 2017 the altcoins dropped like hell, the price of bitcoin was rising because everyone wanted to hold bitcoin in order to be capable of getting bitcoin cash but right now no one really needs to hold anything considering it won't affect all others including bitcoin.

Also there was a ton of bitcoin sell and the volume got real low in the past 24 hours, which means everyone was just "lets see what happens first" and during that time someone from either side got up and sold a bunch of bitcoin to pay people and that really crippled the market. I don't know which side did it but it will not beneficial to anyone in the crypto space, doing this in spite of knowing you will make a lot of people lose money just to get your own coin out there is evil, I hope both sides lose.

[boss.afro]

During the year, there was repeatedly a decline in the price of the game of speculation in order to buy bitcoin at a low price, after which growth and sale began, so more than 1 billion dollars was earned on the price of the year.

[target]

Sold the rest of my BTC too. Maybe I;d be back if BTC price goes more than $20k again, this is tragedy anymore lol.

Whether Bakkt or ETF can raise the price up again, I may have to wait til BTC goes more than substantial amount other wise its just going to be a playing field for the financial firms to make money out of thin air.

[upsidedown75]

I am more worried about the fall of ETH. Now it has slipped to third place (in terms of market capitalization), behind both Bitcoin and Ripple. And I am actually worried that XRP is not falling as much as ETH.

There's nothing to worry about. ETH, like the rest of the market, is tanking due to Bitcoin flash crash, but XRP taking the number 2 spot doesn't mean much, just that XRP is getting pumped to take advatange of the situation and claim a higher spot in the charts (honestly, market cap isn't that important). And I believe this is only momentary, once the market recovers, ETH will climb back to where it belongs.

Even XRP is doing that now, how long will it have to do that before it gets dumped back eventually? It is not really important, as that does not change what they are, by just trying to manage to pump their prices to increase their market capitalization.

However, this is not something I should be worried about when it comes to bloodbath like this, and in a way, I am feeling like this is like the final drop in price to shake out more weak hands, and I won't be surprised. However, it is all good when the market ends up giving more chance to at least buy at a lower price, which is always good enough for me.

[sudeshkumar]

Really surprised to see Bitcoin prices below 6000 dollars first time in 2018 as against the prediction of recovery ,but I still feel that is is a buying opportunity.

[fulmetal08larz]

Wow. This is the time to buy more than what I am capable of. I have allocated funds monthly thru cost averaging method, and I think this is a really great time to seize this buying opportunity. My crypto investment is for retirement, so I don't need fiat from it yet. I will only sell if there's an emergency or when I have reached the target price I've set.

[anjho.ace]

We are back again from August 2017 BITCOIN PRICE.
there is nothing to panic as we are just in normal market.
we can see a big rise again once everything is settled.
I am buying more to get more profit.

[casperBGD]

I am more worried about the fall of ETH. Now it has slipped to third place (in terms of market capitalization), behind both Bitcoin and Ripple. And I am actually worried that XRP is not falling as much as ETH.

There's nothing to worry about. ETH, like the rest of the market, is tanking due to Bitcoin flash crash, but XRP taking the number 2 spot doesn't mean much, just that XRP is getting pumped to take advatange of the situation and claim a higher spot in the charts (honestly, market cap isn't that important). And I believe this is only momentary, once the market recovers, ETH will climb back to where it belongs.

market cap is very important, because it is highlighting complete value of coin
i agree that XRP is pumped to be second, and ETH does not have support from big players, that will dump it when upswing happen

[coinfinger]

Nov. 14: Crypto markets have suffered sharp losses over the past several hours. The major market drop off took place between 10:30 a.m. (UTC -5) and 12:00 p.m., with some of the top 20 cryptocurrencies dropping by as much as 18 percent at press time, according to data from CoinMarketCap.

According to data from Bitcointicker, after 11:00 a.m. (UTC -5) Bitcoin dropped below the $5,600  price point for the first time in 2018, sinking further to as low as $5,506 at around 2:00PM. Bitcoin is now down around 11 percent on the day, trading at $5,612 at press time.

The recent movement of the market was predicted by a number of industry experts, who also suggest that the bear market would last beyond this year. Technical expert Willy Woo, founder of data webstie Woobull, has recently predicted that the bear market end may end “around Q2 2019,” based on “putting together the blockchain view:”

    “After that we start the true accumulation band, only after that, do we start a long grind upwards.”

Earlier this year, crypto investor and founder of Galaxy Investment Partners Mike Novogratz predicted that Bitcoin will not manage to break $10,000 by the end of 2018, claiming that reverse of the trend will take place by Q2 in 2019, when the industry will get more institutional involvement.


Reference: https://cointelegraph.com/news/markets-see-massive-selloff-bitcoin-dips-below-5-600-for-the-first-time-in-2018

Yes that’s true, $5,561 as we currently speak. I’m not even surprised cause I know already that the price is still going to drop more. I wasn’t expecting any bull run this year and there is likely not to be any this year. I have plans to buy Bitcoin but not now, cause even before now I saw an expert predict that Bitcoin will drop below the $6000 rate. So we should expect another drop after December too. So I’m waiting till then to know if I will be buying any coin or not.

[niublity]

This is a terrible news. The price of Bitcoin is now $4,800, which is still a downward trend. This is a crazy feast. The cryptocurrency market has been hit hard and the cryptocurrency industry may disappear in the future.

[BlueStackz]

Don't be too pessimistic, the cryptocurrency market is still immature. The decline at this time is related to the competition between the two major mines. When the war subsides, the cryptocurrency will gradually rise. This is the best way for investors to wait patiently.

I still think these are great prices and even if it falls further it is still great time to buy because the price is as cheap as it gets for the past year or so. When something hits under the past 365 day mark it is either going down so low that it won't be fixed for a long time or even vanish OR it will go higher very quickly to correct itself. I am one of those people who believe the market will eventually correct itself, it can't  stay like this as long as people keep buying.

In order to keep the price at these levels the sellers have to keep on selling at these cheap prices and only people who are stupid enough to do it are the hashwar guys and panic sellers. Hashwar guys will eventually stop, they have to because they will have no money left if they continue like this and of course panic sellers are limited and will be over, probably even ended now.

[gabmen]

I am more worried about the fall of ETH. Now it has slipped to third place (in terms of market capitalization), behind both Bitcoin and Ripple. And I am actually worried that XRP is not falling as much as ETH.

There's nothing to worry about. ETH, like the rest of the market, is tanking due to Bitcoin flash crash, but XRP taking the number 2 spot doesn't mean much, just that XRP is getting pumped to take advatange of the situation and claim a higher spot in the charts (honestly, market cap isn't that important). And I believe this is only momentary, once the market recovers, ETH will climb back to where it belongs.

market cap is very important, because it is highlighting complete value of coin
i agree that XRP is pumped to be second, and ETH does not have support from big players, that will dump it when upswing happen

Well the market in general is an eyesore with ripple the only top coin staying above water. This selloff has seen bitcoin below 5k and eth way below 200 usd. Both lowest this year. I agree about eth being more concerning since they've been tanking even when btc was steady above 6k. Guess we just have to cross our fingers for december.

[BitcoinPanther]

LOL, why is it everyone starts panicking when the market is in bloodbath? Some might not going to agree with me but I see this as an oppurtunity to buy Ethereum at $175  , I just need a few more cents to get another 1 ETH!.

I hope the report will stay at the 2nd Quarter of year 2019 to get into the race.

Well, some were panicking while others were rejoicing.  Those who bought at the ATH would be the one who is worried right now but I guess they can even out these losses if they buy now.  I am not a fan of ETH but I believe it will recover.  They still have plans for ETH and development and upgrade of the network is on its way, so yeah the price will recover but who knows when.


Bitcoin had reached less than $5k, i really am wondering if this is just a manipulation to get more Bitcoin or maybe Bitcoin is a goner.  But, I always believe the first.  Bitcoin is about to explode massive manipulation and accumulation by the whales that is what my instinct told me, since here comes BAKKT in December.