Downward Trend

[bitbunnny]

Is current crypto downward trend only temporary?

Absolutely not. After the $20k ATH bitcoin entered a long term and final downtrend (you need to ignore the recent price spike, because it's aberrant and irrational). Bitcoin will trend to sub $1k prices over the next couple of years because it's been proven by science to be a flawed project. A cool experiment, no doubt, but it didn't work. There will never be another ATH for bitcoin.

I wish you made some proof for this scientific research that you mentioned. I never heard of such thing.
Yes, it's true Bitcoin has some disadvantages and it's not perfect but so far we have heard so many predictions how Bitcoin will vanish and become worthless but something like that still didn't happen and honestly I don't think it will. No matter to all Bitcoin will survive and will have some good and some bad times, like everything else.

[rdluffy]

Calm down, we are not in a downward man
It's just correction and people dumping to start panick and buy again after weak hands sell

Serious, week before we are on sub 10k, now we have 11.5k in the exact moment, we are good, very good

[exstasie]

After the $20k ATH bitcoin entered a long term and final downtrend (you need to ignore the recent price spike, because it's aberrant and irrational). Bitcoin will trend to sub $1k prices over the next couple of years because it's been proven by science to be a flawed project. A cool experiment, no doubt, but it didn't work. There will never be another ATH for bitcoin.

Good to see you back, proudhon. I'm glad to see you're bearish.

What's all this about "scientific proof?"

Is current crypto downward trend only temporary?

The trend is your friend, until it ends. Bitcoin is still trading comfortably inside an uptrending channel. The bull trend is intact all the way up to the monthly time frame.

Sure it's possible we're in a secular bear market and the run to $13,800 was just a bull trap. But I'd rate the chances of that pretty low.

[harizen]

Is current crypto downward trend only temporary?

I don't know what you meant for "downtrend". Seeing concerns like this in social media concluding it's now a sign of a crashed.

You guys really forgot how much the price increases a while ago. So the sudden dip really puts you into the worried state.

Sensitivity at it's finest because of the sudden drop. Look at the bottom. That's what we need to determine in every price jump. We need more dips to test how prepared bitcoin price to make another journey to the moon. We don't want to see again an increase that a product of pure hype.

[exstasie]

Is current crypto downward trend only temporary?

I don't know what you meant for "downtrend". Seeing concerns like this in social media concluding it's now a sign of a crashed.

You guys really forgot how much the price increases a while ago. So the sudden dip really puts you into the worried state.

Can you blame them? Imagine how many people FOMO bought in the $12,000s and $13,000s and now are totally underwater after seeing a 25% crash?

This is one of the things I love about Bitcoin. The bounces and shakeouts are so severe that no matter what direction the trend is, traders on both sides of the market experience deep drawdowns, stop runs, and liquidations. This is the volatility that riches are made from!

Buying the dip below $10,500 (as planned ) made for one of my single most profitable trading days this year. It's too bad that profit had to come from panicking investors like the OP!

[klaaas]

Serious, week before we are on sub 10k, now we have 11.5k in the exact moment, we are good, very good

Indeed a down trend would suffer way worse than the dip we had. The battle is around 12k again at the moment and still pushing upwards.

[Baofeng]

Is current crypto downward trend only temporary?

We have increased so much in the last couple of months, so a correction is long overdue, which you call downward trend. But if you look at the price in the last 24 hours, bitcoin is up again by 10%, almost touching $12k. So this trend will be cyclical, because obviously, investors will take or book their profits that will cause the sudden downtrend, and then re-invest together with first time investors to push the price again, just like we are seeing right now.

[Dodoymabs]

It should be expected because tons of traders are playing with it. Especially those day traders which they want just to make some small amount of interest. Still, this will happen normally because it's not being controlled and a lot of changes happens from time to time.

[iMark]

Is current crypto downward trend only temporary?

Depends on where you look. If you look at it for two days, it may seem permanent. But when you look at the 3 months, you can easily see the upward trend... It is possibly correction. Price will go up a bit later.

You have to see what reasons make the price fall, we know before the price increase is really crazy, the price rises above $14k,
of course there will be oversold happen and it will obviously make the supply too large in the market, its reasonable if the price drops

[Bitcoinwaist]

want the price to start going back up? stop buying.
 traders/bots trade against all new money that enters the game. ever notice when you buy some bitcoin the price goes down? this prevents someone(retail) with deep pockets to "buy" the market and make a quick buck.  look at the prices since $13600 after a couple dead cat bounces, anyone who has bought has not had a chance to sell a pump for profit. Lower lows to lock in bagholders. could go on for awhile til the traders/whales feel they can start pushing the prices higher and not have many profit takers selling as the price goes back up. there is no free money in this game. be patient

[Dreamchaser21]

Is current crypto downward trend only temporary?

Its not a downtrend but a pullback and I hope its temporary trend. The uptrend are still strong in the chart right now and the price are already stabilize on the price on $11k - $12k, this is a good sign that the price will no longer drop on that level, let’s hope for best price again.

[BUK2016]

Is current crypto downward trend only temporary?

It is temporal because the forces of demand and supply will definitely push the market forward in no distant time from and you have a mind to invest please do it now so that you can gain more profit in the future when Bitcoin value will be at the top and become a house hold name all over the world.

[LimLims]

Is current crypto downward trend only temporary?

You need to understand first, how the prices are affected.
The price of BTC or any particular coin increases, 
When the trading volume of the coin increases.
This is also termed as market cap of the coin.
And when it decreases the price also falls down.
So BTC will surely increase in the future.

[omonuyak]

The true is that there is no downward trend we are only seeing some investors or traders taking profits from the recent gained. When they are done with that they will start to buy back again and the cycle continue until Bitcoin create another high above $20,000. As far as bitcoin is above $5000 I will said it is in upwards trend.

[WinslowIII]

proudhon was posting that bitcoin was going to fail ever since way below $500. Anyone listening to him or Warren Buffett missed out on the profit of a lifetime. These knucklefucks are the LAST people to take seriously now, given their proven track records of being completely and utterly wrong. That either of these idiots have the gall to continue to fud something that has proven them to be so stupid is pretty mind blowing - most people would have crawled under a rock and disappeared after being so completely discredited.

To proudhon and Buffet - even if bitcoin goes to zero from here, both of you will always be nothing more than dead wrong in your predictions, opinions, and assessments. That the price moved up exponentially after your warnings to stay away makes your words unworthy of listening to ever again. So just stfu.

[figmentofmyass]

bears put in a good effort pushing price below $11k this morning but it keeps getting bought back up. new lows below $10.3k are beginning to look less and less likely.

i think we'll be back at $14k within 2 weeks or so.

proudhon was posting that bitcoin was going to fail ever since way below $500.

i'm pretty sure proudhon was bearish in the double digits. it takes a special kind of person to maintain this level of dedication.

anyone remember ElectricMucus? he was the king of the speculation forum trolls....

[WinslowIII]

bears put in a good effort pushing price below $11k this morning but it keeps getting bought back up. new lows below $10.3k are beginning to look less and less likely.

i think we'll be back at $14k within 2 weeks or so.

proudhon was posting that bitcoin was going to fail ever since way below $500.

i'm pretty sure proudhon was bearish in the double digits. it takes a special kind of person to maintain this level of dedication.

anyone remember ElectricMucus? he was the king of the speculation forum trolls....

Hopefully he's a paid troll, because if not he's the dumbest motherfucker in bitcointalk history.

[virasog]

Is current crypto downward trend only temporary?

For how long you are in the crypto currency ?  You need to define time frame in which you are asking this question.

In the short run bitcoin can be in a downtrend as we already touched 13000K a few days back but for a midterm to long term prospective bitcoin momentum is bullish.

[buwaytress]

Is current crypto downward trend only temporary?

Absolutely not. After the $20k ATH bitcoin entered a long term and final downtrend (you need to ignore the recent price spike, because it's aberrant and irrational). Bitcoin will trend to sub $1k prices over the next couple of years because it's been proven by science to be a flawed project. A cool experiment, no doubt, but it didn't work. There will never be another ATH for bitcoin.

And lest people forget, long term can mean anything between 2 years and 5 years, at least given the timeframe of Bitcoin's lifetime. If anyone thinks 1.5 years is long long long term, then they really need to adjust expectations. I really couldn't understand why people even thought the winter was over. It's not even really been much more than a year yet.

But watch your steps, my friend. Your words have been oft repeated. The epitaphs where people were proven wrong when thinking we'd never see another ATH? They keep growing every ATH.

[exstasie]

Today's dump from $12,500 to $10,800 (not 100% sure it's done yet) looks like an ABC correction. The momentum is fairly weak compared to the initial wave down to $10,300. Based on price action alone, I'm inclined to think we won't see sub-$10K here.

However, one piece of data just came in that throws a wrench into the mix! More than 20,000 BTC worth of shorts on Bitfinex closed into this last dump. That means less buy pressure to absorb more selling, or to fuel another leg up.

The last time shorts dropped like this was in mid-May, shortly before we crashed to $6,600 ($6,178 on Bitstamp). Very interesting! I'm standing back on the sidelines (no long or short) with fiat ready in case this decides to waterfall.