Why Bitcoin is Declining? And What’s Next?

[tungaqhd]

The market has grown again, the chart is really showing predictions in the right direction.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.

I also have thoughts with you. Now Bitcoin is completely overwhelming this market so holding BTC will bring more positive returns during this period. The market is currently in a downtrend but Bitcoin has remained stable throughout the past year and this is really good for those who hold the coin. Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.

Your hope is probably the hope of the majority of people here because we all hold relative amounts of bitcoin, the value of bitcoin goes up, it will be a good opportunity for us to convert it into real profits but I don't know why the current situation of bitcoin is giving me a very unpredictable feeling, dominance was too high but movement was still very slow. Hopefully this is just a false feeling, if it's correct, perhaps a bigger accident will hit this market, everyone is probably very tired to fight and overcome that stage

[SirLancelot]

The market has grown again, the chart is really showing predictions in the right direction.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.

Ha, I don’t think you know the level for which altcoins has drastically or badly been damaged, because if you know, you will not advise people to sell. Imagine something that I bought $1000 has turned to less than $50, so how do you expect me to sell that one, and what increase would bitcoin ever have that would make that money turn back to $1000 again,.

I would rather just leave those altcoins and be waiting for the time that altcoins season will start so that I can get back my money, then I can keep them for the next bear market of bitcoin and buy strictly bitcoin because I have tested some of these coins now and I have realize that majority of them are not worth investing in unlike bitcoin, and this is the reason bitcoin is gaining very high dominance.

[Questat]

Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.

I'm pretty sure you are not alone, but that's alright if you believe bitcoin will again rise and break its ATH.

$15000 is likely to be achieved this year as we already have reached $13,000 as our high this year, so that's $2000 more which is easy to achieve once the market starts to be bullish again. We weren't see BTC performed good in the 3rd quarter, but let's always remember that there's plenty of time left yet, so let's be optimistic that the 4th quarter is good as in year 2017.

[moneyball]

The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!

[Pipdips]

The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!

LINK OR IT DIDN'T HAPPEN.

[desticy]

The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!

These are just rumors.
The bitcoin hash rate has already recovered. The fall was due to the elimination of a huge number of positions on the Bitmex exchange, in any case, I heard such things from experienced traders.
The fall is likely to continue.

[kynaz]

Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.

I'm pretty sure you are not alone, but that's alright if you believe bitcoin will again rise and break its ATH.

$15000 is likely to be achieved this year as we already have reached $13,000 as our high this year, so that's $2000 more which is easy to achieve once the market starts to be bullish again. We weren't see BTC performed good in the 3rd quarter, but let's always remember that there's plenty of time left yet, so let's be optimistic that the 4th quarter is good as in year 2017.

Currently, I am seeing a huge panic from investors and their psychology is now very poor so the BTC reaching $15,000 is impossible this year. I have been afraid of this market and it has made me lose a lot of money in the last few days. Now I cannot predict anything in this market but I can choose to invest in this coin for a long time since the price of BTC is currently very cheap and certainly this is the cheapest price this year.

[joromz1226]

When I checked the price value of BitcoinBTC in the market, it is already below at 8,500$ which is 8,045$ according to coinmarketcap.
I'm not exactly sure if this the effect of bakkt when it launched this past September 23, 2019 after that event happened, then this is the result of the market now in crypto, I don't know if this a great news or what? But for others its normal things happen in crypto, probably, I think by October everything will be fine again.

[rez303]

When I checked the price value of BitcoinBTC in the market, it is already below at 8,500$ which is 8,045$ according to coinmarketcap.
I'm not exactly sure if this the effect of bakkt when it launched this past September 23, 2019 after that event happened, then this is the result of the market now in crypto, I don't know if this a great news or what? But for others its normal things happen in crypto, probably, I think by October everything will be fine again.

It is really hard to predict the market trend at this time because the investment demand is very low this year and investor sentiment can make your investments meaningless. Now it is best to do nothing because the market has not shown any signs of recovery and it will be very risky if you choose to invest right now.

The best advice for you is to stay calm and learn new knowledge from this market as it will help you in 2020.

[cryptoloverlife]

The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!

These are just rumors.
The bitcoin hash rate has already recovered. The fall was due to the elimination of a huge number of positions on the Bitmex exchange, in any case, I heard such things from experienced traders.
The fall is likely to continue.

Yes, you are right it is because of Bitmex leverage trading which the buy orders have been eliminated. But if you compare with the previous hash rate, now it is high which many people are kept mining the Bitcoins. Now, most of the experience people are predicting the price of Bitcoin will go down even to 6500$.

[voltesbit777]

Up till now, the price of bitcoin in the market has been low, since BAKKT launched last 23, of September 2019 and it seems that it has remained between 8000 $ to 8250 $, I think it controls it if it high value thinking. Or it could be that many are buying bitcoin at its current price.

[jmigdlc99]

I completely agree on some points, like how bitcoin fundamentals are indeed getting better every time. However, you also have to consider that there are also some negative points that are happening (e.g. Craig "fake ahole satoshi" Wright). So given this, my opinion is that the decline is not unwarranted and is not just a "cycle" this time around. Theres some sketchy things happening but hopefully it is also temporary. 

P.S. It's refreshing to see actual analysis on these boards instead of questions.