Why Bitcoin is Declining? And What’s Next?

[Monfex]

I think what will happen next is the dominance will fall for bitcoin because all money went in there and people are slowly realizing there is not much money can be made from bitcoin so they gonna move that to either usdt which will drop the price (happening as of right now) and then there will be some that will move their money to altcoins which will make the real difference because then we will have altcoins going up a ton and that is where the real money comes in.

Even 1% of bitcoin moving to some coin would make it go insanely high and earn you easily x2-x3 of your investment. That is what people forgot, it takes a lot to move bitcoin but as soon as that money starts to pour into other altcoins it will be super easy to move that money and then people will use that money to fuel more bitcoin and it will repeat itself until its unsustainable.

 I don’t think that is the case because Bitcoin is starting to be recognized by more financial institutions and even today it was announced that the NYSEs parent company “International Exchange” will start allowing futures contracts to be paid in Bitcoin. And the news from New Zealand stating that they will now allow employers to pay their employees with Bitcoin if they wanted is also great news. It just goes to show that Bitcoin is probably here to stay, but it has to decrease it’s volatility in order for it to be widely accepted.

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[Monfex]

Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices.

Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical.

[Naida_BR]

Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices.

Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical.

There you go, all done with the comments!

I think that the struggle is not about the coin itself but altcoins as a total.
Neither altcoin can reach far in price, they all struggle in levels that were far below their tops. Ripple does good deals, but if altcoins won't grow in price no one of them is going to hit a high level by its own.

[LimLims]

The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.

[Yamifoud]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

[PuertoLibre]

The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.

The old question will be always actual, BTC price is visiting the resistance and support level in a week. For example, in the spot forex market, there is no reason to trade the resistance level of the 1-month-old price. The price barely touches the old resistance(support) levels unless the big news forces the market participants to trade those levels. I can keep counting the reasoning but each market has different stop hunting techniques, OP should protect his trades in such cases.

[suzanne5223]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

[ethereumhunter]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

I think we need to be prepared if the price is down again, we can get another solution to prevent the losses. The market still unpredictable until now and it is difficult to know where the price wants to go, but with preparation, we don't have to worry if somehow the price moves to the other way that we don't predict. We could still take the benefits from the price direction and if the price increase, we could also make another benefit by selling bitcoin at a high price.

[hahay]

Next is an increase because every time there is a large decrease at least there will be an increase in height even though it takes time to be more patient. Currently the market has improved even though prices have not fully increased because it is still stagnant in the same range from the previous day which proves the market still needs time to get a bull run.

[pawanjain]

My eyes! My eyes!
What's with the huge font bud ? You can keep the default font size of 10pt as it is soothing to eyes and easily readable.

As for the speculation, I think that the selling price is a bit too high considering the ATH of this year to be about $13000.
There is a barrier at $13k and only if BTC crosses that mark, it will reach the $15k target. So according to me the profit takeout target should be around $12.5k.

[muhhentuhhen]

I think what will happen next is the dominance will fall for bitcoin because all money went in there and people are slowly realizing there is not much money can be made from bitcoin so they gonna move that to either usdt which will drop the price (happening as of right now) and then there will be some that will move their money to altcoins which will make the real difference because then we will have altcoins going up a ton and that is where the real money comes in.

Even 1% of bitcoin moving to some coin would make it go insanely high and earn you easily x2-x3 of your investment. That is what people forgot, it takes a lot to move bitcoin but as soon as that money starts to pour into other altcoins it will be super easy to move that money and then people will use that money to fuel more bitcoin and it will repeat itself until its unsustainable.

 I don’t think that is the case because Bitcoin is starting to be recognized by more financial institutions and even today it was announced that the NYSEs parent company “International Exchange” will start allowing futures contracts to be paid in Bitcoin. And the news from New Zealand stating that they will now allow employers to pay their employees with Bitcoin if they wanted is also great news. It just goes to show that Bitcoin is probably here to stay, but it has to decrease it’s volatility in order for it to be widely accepted.

These are just foreseen fluctuations. Although the hashrate on the network has reached a historic high, which is a signal that BTC will go up soon, this does not help the reference cryptocurrency. The level of $ 11,000 became an insurmountable resistance.

Recently, both bulls and bears have become more modest in their requests: both of these "crypto animals" have enough range of about a thousand dollars to initiate reverse dynamics.

[barbara44]

My eyes! My eyes!
What's with the huge font bud ? You can keep the default font size of 10pt as it is soothing to eyes and easily readable.

As for the speculation, I think that the selling price is a bit too high considering the ATH of this year to be about $13000.
There is a barrier at $13k and only if BTC crosses that mark, it will reach the $15k target. So according to me the profit takeout target should be around $12.5k.

If they set their profit at $12.5k, and at that point is when the increase successfully breaks the barrier of $13k, would they not have missed out already after their trade must have been executed at $12.5 and you know the thing with bitcoin bull run, before they make decision to quickly join the moving train, the price may have reached almost $15k and the peak at that again for possible corrections, which means they will find themselves stocked on again for a very long time after they must have joined the train at that $15k thinking it would continue to surge higher.

The point of what I am saying is that it is better to just be patient to see the end of the final peak than pulling put often and trying to get back into the market except for day traders and they need to

[Monfex]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

I think we need to be prepared if the price is down again, we can get another solution to prevent the losses. The market still unpredictable until now and it is difficult to know where the price wants to go, but with preparation, we don't have to worry if somehow the price moves to the other way that we don't predict. We could still take the benefits from the price direction and if the price increase, we could also make another benefit by selling bitcoin at a high price.

 I am still bullish on Bitcoin but right now is a bit of a lul. We should start seeing some movement closer to the halving and also when the Bitcoin “futures” will be released.

[Monfex]

Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices.

Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical.

There you go, all done with the comments!

I think that the struggle is not about the coin itself but altcoins as a total.
Neither altcoin can reach far in price, they all struggle in levels that were far below their tops. Ripple does good deals, but if altcoins won't grow in price no one of them is going to hit a high level by its own.

I totally agree. Beyond Bitcoin, a lot of the cryptos are just tradable currencies with nothing backing them or supporting them. If they don’t increase there fundamentals, it would be hard to say if they will be relevant in the future.

[Monfex]

The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.

 Trading volumes play a huge role and of course the news plays an even bigger role. When the Bitcoin “futures” will be available, we should see some heavy movement in the price. Also, the halving will be coming soonish.

[Monfex]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

Good thought, but there are always people betting against the market to make a quick buck. The shorts are getting the better of Bitcoin at the moment

[Monfex]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

 Of course analysis can only go so far, but I do think this Bitcoin “futures” situation will be something to keep an eye on. There will either be a pump or a huge drop.

[Monfex]

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

I think we need to be prepared if the price is down again, we can get another solution to prevent the losses. The market still unpredictable until now and it is difficult to know where the price wants to go, but with preparation, we don't have to worry if somehow the price moves to the other way that we don't predict. We could still take the benefits from the price direction and if the price increase, we could also make another benefit by selling bitcoin at a high price.

It is always good to have a plan about your Bitcoin investments, but if you feel that way, then placing intraday trades may be better for you if you are skeptical on Bitcoin reaching 20k +.

[Monfex]

The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.

Yes you are on spot, bitcoin is now in great vibes and the market is pretty bullish. I believe that Bitcoin will continue to rise higher and higher till it hit the all-time high value. In addition, there has been good deal of speculation in the crypto due to the hike in its value and this is the reason it is getting pushed up. Bitcoin halving is another reason to invest in Bitcoin.

 It is always a good strategy to average down if the price keeps dropping. I am still remaining bullish on Bitcoin, and I think it has a lot of potential. I am staying bullish on the long term. (edited)

[Monfex]

Any time that bitcoin market price is declining the next this you should do is to buy at that cheaper price and hold till when the its price appreciate again and in doing that you will make profit and at the same time you will help the market bounce back to its fullest height.

 Good point on the take profit at 12.5K. There is a lot of resistance at 13K, so it is a good idea to take profit before it hits it, but with the way the trend is going, if it reaches past 12K again in the near future, I think it will explode towards 15K.