What the Effing Hell is Going On!?!?!

[cocoadreamboy]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

I have posted much about why 13k is unsustainable, check out my other topic:

https://bitcointalk.org/index.php?topic=5158923.0

Use true data for your investment choices not fervor and emotions.

Hope this helps my friend,

Aaron

[Baofeng]

Correction is really due, I mean the massive pump from $10k->$13.5K is what last 2-3 days? That's an indication that either someone is manipulating the price or FOMO is pushing the price to form a bubble. But I'm sure the OP knows, the risk, but I'm still optimistic that we're still in the bullish trend and the price could go vertical again so just hodl on it.

[dothebeats]

Don't trust the charts. Check volumes and price swings on different exchanges then do your decision. I've been into your situation countless of times and I have only trusted the charts and price trackers and never looked deeper into the action. $13500 is definitely not the price range we should be in currently, due to the fact that it came so rapidly without any solid backing. It's obvious that it was a pump after all and will not hold for long due to low volumes on the buying side and a huge number of sell orders listed.

Do not go by emotion and always check data and volumes, not just the prices.

[cocoadreamboy]

Don't trust the charts. Check volumes and price swings on different exchanges then do your decision. I've been into your situation countless of times and I have only trusted the charts and price trackers and never looked deeper into the action. $13500 is definitely not the price range we should be in currently, due to the fact that it came so rapidly without any solid backing. It's obvious that it was a pump after all and will not hold for long due to low volumes on the buying side and a huge number of sell orders listed.

Do not go by emotion and always check data and volumes, not just the prices.

Please be aware that the volumes are regularly over inflated, due to the massive amount of wash trades and falsified data.

What kind of data do you use and where do you find it?

I use creation costs and risk analysis, which I find on this site here:

https://www.amsinger.org

Manipulation is rampant in crypto, as a veteran I'm just used to it,

Aaron

[Vness10]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

We know that market always like this it goes up and drop but i think the best you can do is hold your emotions dont panic because btc drops. Its normal in the market and it will back on track again just be more patience.

[timerland]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

It's nothing out of the ordinary. It's simply a correction, that was bound to come sooner or later.

I'm not sure why you'd expect anything else, even, given the fact that the growth we've seen over the past week was simply unsustainable. The rallies that we saw up to $13k+ was mostly a result of FOMO buying due to the hype of BTC going through the $10k resistance, which has psychological significance to investors, and perhaps some short squeezes as well.

These short term cycles are quite common in any asset class, not just BTC. I don't think that buying at that level was necessary a bad trade per se, given that you have the patience and belief in BTC in the long term. It seems like the $10k support has been tested and it held up nicely, which is a bullish sign.

[exstasie]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Typical volatility. You can't rise $1,000+ a day and not expect insane volatility. There is a massive amount of emotion in this market right now. FOMO, greed, fear. Some people are massively over-leveraged. Add very thin order books into the equation and you've got a recipe for fast whipsaws that run through large ranges.

Everybody gets chopped up!

Like a fool I bought some at $13,600. Regrets?

You FOMO'd hard, LOL. I was on the other end of it. I saw a $2,000 daily candle and started selling into it. I was kicking myself for selling too early (began slightly below $13K) but I'm perfectly happy now.

I believe we will be back above your buy-in in the coming weeks, or at most, months.

[Maslate]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

We know that market always like this it goes up and drop but i think the best you can do is hold your emotions dont panic because btc drops. Its normal in the market and it will back on track again just be more patience.

Accepted that it is regrettable why we don't sell our coins during that days when the price is high. We don't do it cause we want more and we think that it will continue to go higher, but it drops down unexpectedly which nobody predicting that will happen. But nothing to do with that, that's actually will possibly to happen. It could be a big lose those who buy Bitcoin at $11k.

[Slow death]

It's down to $10,900.  It was at $13,600 yesterday.

to get worse, fell to $ 10500

What the hell is going on !?!?

I do not know what happened, but I can assume that some people may have thought that the price would not exceed $ 14000 and that it was their chance to get high returns and avoid repeating the same thing that happened in December 2017 or second option may be because may not have been able to break the resistance you had at $ 13900. anyway, I was not expecting such a big price drop, it was a 20%

Like a fool I bought some at $13,600. Regrets?

just Hold

[marcbitcoins]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

Maybe some of the Bitcoin bullish is not really a real demand but just a big whales pump and they are now claming it. I also heard yesterday that there is another hacked exchange incident that if its true then they are selling all stolen Bitcoin but anyway this is not the end of your Bitcoin investment just a little patience and keep on holding as this bullish interruption will end quickly.

[thecodebear]

Why is the OP freaking out about a correction? Did he not expect a correction after a parabolic move (topping off with 20% in one day!)??

A correction back to $10k was pretty obvious.

[LimLims]

It's down to $10,900.  It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

Before saying anything,  you need to understand
How the price of a particular coin affects.
So the price of BTC affects when the trading volume of the coin is more.
At that time the trading volume was more,  so the price was kept on increasing,
But now the volume has came little down, so we are seeing a downfall of the coin.
This is normal.

[STT]

Higher price tends to bring in new faces, new names and speculators because its a hot stock.     It could be a positive thing for BTC to attract such attention but really its the long term factors that matter most, there is a natural froth type action and that also explains why it can pull back at least as much again.

I will attempt to address Hell and extrapolate exactly what is going on, of course with such a rapid situation much attention is required and rapid adjustment.   Right this moment, I'm forced to be bullish because we attempted to close below some support and it failed to achieve this so we go back up.

Every time I ignore a touch of support like that I regret it as within a day its off to the races again.   However I do find the Asia trading hours such as now do tend to be more bullish then the rest of the world.  Again thats just my impression.



A quick snippet of my graph and an attempt to show how we have failed in an attempt to break downwards, hence remain bullish it would seem most likely.   For anyone who dont like charts, just notice the long pins and we 'bounce' above white (also blue) line.   Takes 24hr to really soak in maybe

[eddie13]

Chill the F out. Bitcoin can go both ways fast. If you missed that point then your TA sticks balls.
Bitcoin is no sure shot. Emotions will get you bankrupted.
Just HODL and you will be talking about how well you invested in a month.

I bought more at 3500, 4500, 5500, 8500, 9100, and 13600....

What?
You thought you could win them all? lol

[michellee]

Why is the OP freaking out about a correction? Did he not expect a correction after a parabolic move (topping off with 20% in one day!)??

A correction back to $10k was pretty obvious.

I think he buys bitcoin at a very high price and that makes him panic to see the price is down deeper. I think many people are not expected to see the correction to happens and they are shocked to see the bitcoin price has turned to go down. The down of the bitcoin price gives a chance for us to buy bitcoin at a very low price, and I am sure that some of us can buy at that price.

[Pursuer]

the "effing hell" that is going on is a big ass rally that has kick started the bull market this year and has been going on for a couple of months already. your problem is that you were asleep all this time or probably fooled by the FUD that were telling you to wait for the price to go down to $1000, then you waited for it to happen but since it never did you panic bought way too late when bitcoin was starting to get reach for a correction. now you are stuck and confused.

now instead of panicking you should start looking at the mistakes you have made over the past 6 months instead of only focusing on the past 3 days. that way you may learn something and be more successful over the coming years where the same thing repeats over and over.

[brokedummy]

I think what's going on is the start of a speculative bubble the likes of which we've all seen a handful of times

[pooya87]

Why is the OP freaking out about a correction? Did he not expect a correction after a parabolic move (topping off with 20% in one day!)??

A correction back to $10k was pretty obvious.

topics like this are either made for trolling just because they saw the drop, or they are made by absolute beginners who thought bitcoin price must only go up without ever have any kind of correction! that is why a lot of them are created each time price makes a big move...

I think what's going on is the start of a speculative bubble the likes of which we've all seen a handful of times

... the bubble that will shape up at least a year from now.

[FanEagle]

I think it will be fine, we have dropped to 10.900 at bottom but now we are over 11.8k once again which means as you can see bitcoin is not going to die, its not going down, it went down a bit but afterwards it went up again, which means its not continuing to go down.

If it went down to 10.9k then it went down even more I would be scared too but after it went down it skyrocketed back up so we have nothing to fear. Check out the prices of bitcoin every single day when you wake up, if it looks more than what it was the day before then it is doing fine, every single morning you wake up the price keeps going higher and higher. That is why I wholeheartedly think that bitcoin is just fine, corrections do happen and it should, as long as we do not keep going down we will be fine.

[BitHodler]

If it went down to 10.9k then it went down even more I would be scared too but after it went down it skyrocketed back up so we have nothing to fear.

The range is getting tighter and tighter, and with that said, we wicked below $10.9k for a moment today. I personally think the range between $10-$10.3k holds more importance, but we're not there yet (for now).

The thing with testing the same support levels is that they tend to get weaker after every touch, just like the spikes up do by forming lower highs. There is however nothing to be afraid of. People wanted a correction, so here it is.

People just need to accept that the price going down as hard as it went up is normal for Bitcoin. Stop being so shortsighted and learn how to benefit from shorts if you worry so much about short term fluctuations.