why Bitcoin sudden dump, when it will bounce again...

[Ambucrypto369]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

[AB de Royse777]

May day! May day!!
Bitcoins down!!! Bitcoins down!!!

LOL kidding.

Truth is, this is how the market works. It's the part of the process. Just HODL your Bitcoin.

In the mean time if you have money then just use this time and buy more. There are a lot of people who missed the boat to buy when it went to $14k perhaps you are getting another chance to buy more.

[btc78]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

I believe that this is still the impact of president Trumps stands against bitcoin and libra coin of Facebook.and maybe this has been used by the whales to manipulate the market since there are reason to dump the market..

But just like what @Royse777 says,better use this as an opportunity to buy again so when the value pumped profit will surely in your pocket

[xvids]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

Why not take it as an opportunity to buy more while it is being dump?
There is no need to panic it would surely recover soon and maybe go way more higher than before.
There are some people who would complain when they miss the ride but when the opportunity is right in front of them they wouldn't grab it.

[erikalui]

It will reach $7-8k soon so there's no need to panic or sell bitcoins and even there's no particular reason for the bear-bill market. Altcoins also are suffering as ETH price dropped too so instead of buying bitcoins now, it's better to wait for 2-3 days when it reaches below 8k and then hold. I don't think it would be stable in the coming 2 weeks as well.

[Artemis3]

More traders looking at when it reaches bottom to buy, i wonder how low it will get? The Trump effect? Lol.

Just remember this:

Halving IS coming... (2020).

[bbc.reporter]

We need more Tom Lee. Paging Tom Lee, what is your location? Holders of bitcoin need bull comfort and assurances hehehe.



Current Bitcoin Pullback is Healthy, Says Tom Lee

It’s healthy to see #bitcoin pullback here.

As for the search traffic for bitcoin being low, I also think that is a good sign. It means the rise in bitcoin has not been accompanied by massive hype.

Source https://www.cryptoglobe.com/latest/2019/07/current-bitcoin-pullback-is-healthy-says-tom-lee/

[pooya87]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

drop is not equal to bear market. drop can be anything from a simple correction to panic sell and even bear traps. this here looks more like a bear trap to me since the market trend is still pretty bullish.
as for TA, it doesn't really work for bitcoin specially on this types of actions in short term.

Due to this btc dump is there is any possibilities to see hyip in Alt coins.

no, because every time bitcoin price drops, altcoins follow it even harder down. and as you can see in the market majority of altcoins are being slaughtered right now.
the "hype" in altcoins that you are looking for only comes when bitcoin price stabilizes.

Is bitcoin bounce again?

why not! do you see anything changed in bitcoin to suggest the adoption has stopped?

[traderethereum]

Is bitcoin bounce again?

Bitcoin will bounce again, at least now bitcoin price is on the way to increase.
We could hope in this week will be the lowest price of bitcoin, and if in the next month the price is down again, the price will not touch below than $10k again because that will make some people to panic.
I think this is happening because of many people are panic and that makes them selling their bitcoin without think that is no need to worry.

[Ambucrypto369]

More traders looking at when it reaches bottom to buy, i wonder how low it will get? The Trump effect? Lol.

Just remember this:

Halving IS coming... (2020).

soon it will bounce again

[arpon11]

May day! May day!!
Bitcoins down!!! Bitcoins down!!!

LOL kidding.

Truth is, this is how the market works. It's the part of the process. Just HODL your Bitcoin.

In the mean time if you have money then just use this time and buy more. There are a lot of people who missed the boat to buy when it went to $14k perhaps you are getting another chance to buy more.

That is good advice you have given and buying when bitcoin is low and selling when it is high is always the right thing to do if you really desired to make money from this cryptocurrency market. I don't think that many of us really spend time to look at some price action indicators such as candlestick and some moving average crossing! If you watch very well you will find out that buying pressure has been reducing since bitcoin got to $14k and the up and down we were seeing before this major dump was due to activities of day traders and day traders cannot sustain consistent grown in pricing!

[exstasie]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

Price nearly doubled in less than 3 weeks, that's what happened!

You call it a bear market, I call it a standard pullback in a bull market. This sort of volatility is nothing new. We've dropped 33.5% from the top so far. Dropping 35-40% would be typical.

Another big bounce is probably coming soon but I doubt it's the end quite yet.

[hugeblack]

I prefer reading historical resistance levels more than relying on technical analysis.
Historically, there are no stability levels at $ 8000 when we fall below $ 9000 and therefore if the price continues to fall we will see $ 7,500 range soon.
So far there are no reasons for further collapse and therefore I do not expect to fall below $ 9000. If there is no bad news, we may return to ($ 9800 to $ 10,200 range.)

[exstasie]

I prefer reading historical resistance levels more than relying on technical analysis.
Historically, there are no stability levels at $ 8000 when we fall below $ 9000 and therefore if the price continues to fall we will see $ 7,500 range soon.
So far there are no reasons for further collapse and therefore I do not expect to fall below $ 9000. If there is no bad news, we may return to ($ 9800 to $ 10,200 range.)

Just so you know, you're employing technical analysis right now. Horizontal support/resistance levels are crucial to TA.

$8,300 was actually a daily pivot on the way up. There was a month-long consolidation in that range, so it would make sense to find support in the $7,500-$8,300 range, if not at $8,300 itself.

S/R is not the only thing to look at, however. If we look at historic charts, the 100-day and 20-week moving averages have often served as bottom areas during uptrends. The 100-day = $8,100 and rising; the 20-week is at $7,250 and rising.

Then we can look at time and magnitude. A typical bull market correction during 2016-2017 took anywhere from 1-5 months and ranged from a 30-40% drop. We've already seen a 35% drop or so. A 40% drop would be ~$8,300. By the time another month or two have passed, our MA supports will be rising to the lower bound of expected downside.

[STT]

Bitcoin facing another bear market suddenly

In Bitcoin terms this is quite a small pullback.  It rose alot and naturally some were only in the price for the fair weather and depart as soon as it looks be more challenging.   Its not really what I would label Bear market just yet.

I'm only especially bearish at this point if we go past 6000 and its not providing support at all.  Thats a long way from here, just profit taking so far.

[cryptokwuk]

Not just a dump. This is because of Libra.
It is the beginning of the end.

Sure, Bitcoin will muddle on for a while, going lower and lower.

Big investors realize that Libra is the future of cryptocurrency, not Bitcoin.

Many here will scream "But Libra is not a real cryptocurrency.".

That may be true at the bootstrapping phase, but they have promised and pledged to open source and fully decentralize the network once it is running after five years.

Libra will be instantly available to 2 billion people around the globe, let that sink in for a minute! Bitcoin couldn't even dream to reach 0.01% of that!

Bitcoin will be totally obliterated and irrelevant in every aspect.

Libra is what people want, not Bitcoin.

[figmentofmyass]

Big investors realize that Libra is the future of cryptocurrency, not Bitcoin.

Many here will scream "But Libra is not a real cryptocurrency.".

That may be true at the bootstrapping phase, but they have promised and pledged to open source and fully decentralize the network once it is running after five years.

you can't "fully decentralize" a network where the token is centrally backed with custodied assets. libra is backed by a basket of assets like fiat currencies. what happens if those assets collapse in value? what happens if powerful governments like the USA shut them down or freeze their bank accounts?

not to mention that KYC is required from the get-go for every user. full AML controls. your account can be frozen or transactions reversed because there's only a few dozen validators on a permissioned network. how else do you expect them to comply with the USA nanny state laws? fully decentralized my ass!

[timerland]

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?

What are you babbling about? Bitcoin in no way is in another bear market, and I think that is the consensus of the majority of traders at the moment.

If we're talking about root causes, people have attributed this downturn to Libra, Trump's comments, a bunch of things that I don't think are necessarily the reason why this correction happened at all. Sure, they may have influenced in terms of kickstarting the process, or worsening the losses, but really if you look at it from a macro perspective, this part of the cycle within the bull market would have come sooner or later.

This is a bear trap. In my opinion, it is still apparent that institutional investors are definitely interested, and that retail investment interest from the mainstream has not even started yet. The bull market still has a long way to go. While it may take quite a while to breach the resistance at $10k again and we may see further dips in the process, it's the complete opposite of doom and gloom to me. It's an excellent buying opportunity, for dollar cost averaging.

[jseverson]

Libra is what people want, not Bitcoin.

Who exactly wants Libra?

Crypto enthusiasts know better than to trust a centralized coin coming from a company with very questionable privacy practices.

The mainstream could continue paying with Paypal and credit cards since it's all the same anyway. This way, they won't even need to pre-convert any money to Libra.

Lastly, since it's a stablecoin, it's closed off to speculators. You could argue that it might be able to replace Tether or some other stablecoins, but a lot of people use those to dodge regulatory mess that comes with trading fiat, which also comes with trading Libra.

Just because Facebook is used by billions of people doesn't mean they'll use whatever product Facebook comes up with, and the same is true with Libra.

[cryptokwuk]

Libra is what people want, not Bitcoin.

Who exactly wants Libra?

Crypto enthusiasts know better than to trust a centralized coin coming from a company with very questionable privacy practices.

Really? They know better? Oooh so that's why people are invested in all these centralized shitcoins. No they don't know better, they are just greedy and hope to make a quick buck and care little for the tech.
Libra starts centralized but will be fully decentralized after 5 years.

The mainstream could continue paying with Paypal and credit cards since it's all the same anyway. This way, they won't even need to pre-convert any money to Libra.

Why would i use existing services that charge hefty fees when i can use Libra with extremely small or no fees?

Lastly, since it's a stablecoin, it's closed off to speculators. You could argue that it might be able to replace Tether or some other stablecoins, but a lot of people use those to dodge regulatory mess that comes with trading fiat, which also comes with trading Libra.

People don't need a speculative vehicle, they need access to a money system to participate in the economy.

Just because Facebook is used by billions of people doesn't mean they'll use whatever product Facebook comes up with, and the same is true with Libra.

Maybe, even if a fraction of the people will use it, it will still be a bigger user base than all of current crypto together.