Relax, its just a hard market reset

[Oceat]

People should be thinking this way to stop stressing too much on themselves because they won't see the bull run for a little while. It could be a hard reset since the price is way too cheaper compared to the last ATH but it is still expensive if we prefer it to the previous longest declined in history.

[bitcoin31]

Thanks for the motivation that you given to us  to continue our journey here in crypto world. Because other people don't have trust to cryptocurrency becaude they already lost more money to cryptocurrency.  Let's get back again the people trust to cryptocurrency to earn more money. I don't like reset turn back to what value in the year 2009.

[1Referee]

How do you know? If we had seen a classic capitulation (in the technical sense) I'd be more likely to agree. Since there was none, and because sentiment is still a mixed bag between "hope" and "despair" I really doubt all the weak hands are gone yet.

I'm fairly certain that the most persistent weak hands are still in. If you want to tempt them to dump, have the price touch $2xxx levels, and you can be sure that we'll see a high volume selloff. People have too much faith in the 200 wma which seems to be holding the price up, but breaking it would make even the more senior hodlers out here poop their pants.

If you look at 2017, then you can see how there was enough time (7 months to be precise) for people to buy coins between $1000 and $3000, so there might still be a large number of weak hands to get rid of. I hope it won't happen of course, but if it happens anyway, then it happens. I'll happily buy more coins below $3000 if the opportunity presented itself.

[Taki]

The point is that the number of micro amount holders is big and such massive cashing out can shake the market seriously.
We all hope this year will be green for bitcoin, but I'm not so optimistic and getting ready to hold for long.

[figmentofmyass]

I'm fairly certain that the most persistent weak hands are still in. If you want to tempt them to dump, have the price touch $2xxx levels, and you can be sure that we'll see a high volume selloff. People have too much faith in the 200 wma which seems to be holding the price up, but breaking it would make even the more senior hodlers out here poop their pants.

i expect to plunge below the 200wma but i'm also expecting a fast recovery, same as 2015. consecutive weekly closes below the 200wma and i'd be shitting pants myself. that would indicate a stronger downtrend than ever before. a very temporary loss of support followed by a v-shaped recovery would be the ideal---that would be characteristic of a bear market ending.

[goaldigger]

It’s a simple correction of which we’ve seen a few times already in the past, a big correction of 70%+ usually is followed by a lengthy period of sideways price action (which you should use for accumulation).

More time before we finally recover and this is indeed an opportunity to accumulate strong coins. We should not panic and instead believe that this is just a big correction that will reverse in the future. 2019 is still not sure for cryptomarket to pump, just hope for the best this year.

One way of promoting buy low sell high strategy together with a cup of hope for everybody. Bitcoin will continue to exist so dont be to stressed to think about its extinction. Buy some until its low instead. Once it goes up, the opportunity doesnt that good anymore. Buy now or regret later.

[1Referee]

i expect to plunge below the 200wma but i'm also expecting a fast recovery, same as 2015. consecutive weekly closes below the 200wma and i'd be shitting pants myself. that would indicate a stronger downtrend than ever before. a very temporary loss of support followed by a v-shaped recovery would be the ideal---that would be characteristic of a bear market ending.

The main difference is that at current levels there is much more buy support needed to keep the price at certain levels, while that was less of a problem years ago with prices hovering at levels less than a tenth of the current price. There is very little dept in the books as we speak, while there was no shortage of support during the hype of 2017.

I really expected things to be different after nearly a decade of existence, but we're experiencing the exact same pump and dump cycles unfortunately. My fault I guess.

[STT]

The point is that the number of micro amount holders is big and such massive cashing out can shake the market seriously.
We all hope this year will be green for bitcoin, but I'm not so optimistic and getting ready to hold for long.

I'm very bullish on Bitcoin so long as it remains a currency of the people not large industry.   So long as its about the bits and the micro amount holders as you call it, this is a solid base to draw from.

The wider a project has in its population, the greater the natural and justified growth it can realise.    I'd apply this to anything but think of any company and its biggest attempts to draw people into using its product.   Its a massive deal to increase your users and especially just raise awareness of your product and its advantages.

Bitcoin whatever people want to label it as, has advanced in its number of users and without ever spending giant amounts like Coke has to we have established a brandname in peoples minds.   Thats invaluable and its an ongoing effects.   If bitcoin ever loses that trend of raising its profile then I will be less bullish long term.  The price is all secondary to this and not a reason for people not to use the product, no other product is less used because price falls tbh

[Caladonian]

It’s a simple correction of which we’ve seen a few times already in the past, a big correction of 70%+ usually is followed by a lengthy period of sideways price action (which you should use for accumulation).

More time before we finally recover and this is indeed an opportunity to accumulate strong coins. We should not panic and instead believe that this is just a big correction that will reverse in the future. 2019 is still not sure for cryptomarket to pump, just hope for the best this year.

One way of promoting buy low sell high strategy together with a cup of hope for everybody. Bitcoin will continue to exist so dont be to stressed to think about its extinction. Buy some until its low instead. Once it goes up, the opportunity doesnt that good anymore. Buy now or regret later.

Make a good position while the price still down, this resets gives good opportunities for every person who wanted to have a long term investment, as we seen that the value still flat no clear pattern to indicate what can be the next run, but experience will dictates to those who able to catch up few years ago, this scene already been there before, believing that it will continue the sway and after the downtrend it will followed by the uptrend, who knows how strong bull can be after being awaking from this long bearish,.

[b3j0]

The point is that the number of micro amount holders is big and such massive cashing out can shake the market seriously.
We all hope this year will be green for bitcoin, but I'm not so optimistic and getting ready to hold for long.

the feeling of optimism slowly began to disappear because the market conditions did not improve, many investors felt disappointed and frustrated because of this condition.

[figmentofmyass]

i expect to plunge below the 200wma but i'm also expecting a fast recovery, same as 2015. consecutive weekly closes below the 200wma and i'd be shitting pants myself. that would indicate a stronger downtrend than ever before. a very temporary loss of support followed by a v-shaped recovery would be the ideal---that would be characteristic of a bear market ending.

The main difference is that at current levels there is much more buy support needed to keep the price at certain levels, while that was less of a problem years ago with prices hovering at levels less than a tenth of the current price. There is very little dept in the books as we speak, while there was no shortage of support during the hype of 2017.

I really expected things to be different after nearly a decade of existence, but we're experiencing the exact same pump and dump cycles unfortunately. My fault I guess.

hehe, i think we're still a few bubble cycles away from that sort of market maturity. you've gotta admit, bitcoin has incredibly strong prospects but there are also still many, many unknowns about future utility and adoption. hence, pump and dump cycles. during the bubbles, the sky is the limit. during the crashes, the only limit in sight is zero.

in 2014-15 in the $200s, i remember looking at the books and always feeling like we were on the edge of a cliff. so i'd expect the same at this point in the cycle too.

[bittraffic]

I want the market to stabilize and crypto prices to rise again, but no one knows that in 2019 it will rise or not. And in the current difficult conditions, I chose to be patient in holding on to it.

One thing is for sure though, you in the other hand will have the chance to collect more BTC today than the days when BTC goes more than $19k.  I think I'd be grateful to see it that way that I have gathered about 3BTC for myself to keep due to this market reset. The next cycle would be more than $20k.

[pooya87]

I would agree the market has been cleansed of weak hands. There are still plenty of people though that think the price will fall, which is why prices will stay in this bottom range for a while, because while there is lots of buying there are just as many people who sell in the 3000s because they think the bottom isn't in yet and it'll crash to the 2000s or even the 1000s this year. The longer it stays in the 3000 range the fewer people who are still in the market will attempt to short it trying to get lucky on a lower price.

what people think, or more precisely what they "say they think" is not an indication of what is going to happen next. otherwise price should always stay the same or go in one direction only because at all times there are a lot of people who only think price is going to go in that same direction. for example in 2017 when price was struggling to break the ATH of 2013 and fell, there were A LOT of people who were saying they think price will continue to go down and reach $200 again.

[exstasie]

what people think, or more precisely what they "say they think" is not an indication of what is going to happen next.

It's obviously not a sure thing, but it gives us some idea about market sentiment. Investors and traders are biased: when they're holding, they expect higher prices and after they've sold, they expect lower prices.

Think about December 2017: By that time, everyone was bullish and shorters had mostly given up (we were seeing sub-10K short levels on Bitfinex). Everyone had already bought, or in other words there were no buyers left to sustain prices at $20K. So the price crashed.

[wuvdoll]

Being optimistic 101. Find possible positive things in all situation. I assume that this market dip is just a hard reset of the market's value where 'virus' or unworthy investors, mostly those who panic sell, forced to withdraw their account because of the dip. With this, all weak accounts will be perished and all remaining strong holders go on to victory. After it has been cleaned, we could now enjoy green fields on our wallet. 2019 will be great again for us crypto holders. Stay focused.

This is not some sort of market that is run by corporations and regulations and what not. This is bitcoin and only thing that decides what the price is people. When we say it worth a lot than it worth a lot and when we say it doesn't worth this much than the price goes down.

Obviously, not what people "say" is the matter here, it is what people "do" is the matter and when they do something they actually change things and prices. That is why they "say" is a bit important as well, if they say something but don't do it than it is of course not important however if they say what they will do and actually do it than that's important. This market is run by people all by itself and the price goes up and down according to what we think it will do and that is why what people say has a bit of importance.

[normanz]

It is difficult to predict the market in 2019, many argue that the market will recover soon but market conditions are not much different. And I prefer to sit patient and accept the possibilities that will occur this year.

[Xardasim]

I think so, we should choose a positive side for ourselves in all bad situations. More rapid development of recent changes prevented us from more loss. Reds woke up us from sleep and taught a lesson about how to manage our risk. On the other hand, this could be a chance for all of us, maybe we will not return that price again.

[BitHodler]

It is difficult to predict the market in 2019, many argue that the market will recover soon but market conditions are not much different. And I prefer to sit patient and accept the possibilities that will occur this year.

It has always been difficult to predict the market, this year is definitely not different. If you look closely at the charts, we're still settling lower highs, which is something you should continue to expect this year.

In a smaller time frame it might look like we're up for a recovery, but when you zoom out, you'll see that we're still going down despite the small leg up. It's going to take a while to bottom out.

Most of what we see right now is purely algorithmic trading activity, and the whales people think are manipulating the price are just bots. In other words, it's all automated where the larger dumps are the result of triggered stops.

[xuan87]

We all know that this is the big correction from the 2017 effect but it had been a long time and the price keep on failing, it's normal for people to become frustrated, but if we can be patience then we can still make some profit, it will need a lot of time before the market could become stable

[Idrisu]

Being optimistic 101. Find possible positive things in all situation. I assume that this market dip is just a hard reset of the market's value where 'virus' or unworthy investors, mostly those who panic sell, forced to withdraw their account because of the dip. With this, all weak accounts will be perished and all remaining strong holders go on to victory. After it has been cleaned, we could now enjoy green fields on our wallet. 2019 will be great again for us crypto holders. Stay focused.

I have been in this cryptocurrencies system for long time now and I do agree with you and what you have said. It is a temporary reset and correction and it is not going to last forever.  Cryptocurrencies market has behave like this before and we should know that in all of this time recovered strong and  I believe that the samething is going to happen again.