Bitcoin Declining.

[leowonderful]

Things weren't looking that great even before the selloff started, and to my knowledge there's really been no big news since the start of this besides a few rumors of a Chinese ponzi starting to sell off the coins it's swindled from investors that I've mostly dismissed. Just seems like people started to panic sell into the dump and it just kept accelerating even though most indicators showed things were extremely oversold for hours before we bounced up from the upper $9400s. We're still doing pretty well considering how quickly we rose into this price range, and we may even be poised for another bounce considering how big and continuous that selloff was.

[el kaka22]

Just now I am checking and it is around 10k levels, in many exchanges as well. It just dropped a bit from 11k levels to 10k levels and that is not really a news worthy thing in bitcoin world. The price has trends which is basically what we call the walls and when there is a huge wall that doesn't allow bitcoin to go above certain levels and walls that doesn't allow bitcoin to drop to certain levels price usually goes between those walls and that is what we call trends.

Now, when people know these trends they usually sell at the top and buy at the bottom to make the most money they could from the movements, its quite a common method to make money and that is why we see these small ups and downs frequently. Until something huge happens there is absolutely no way to change this course.

[Tylev]

In order for the cryptocurrency market to grow well in the fall and especially in the last months of the year, now it must rest with normal people who are usually on vacation during this period. Therefore, in the current fall in the price of bitcoin, I do not see anything bad and unusual. From the end of September, I think, we will see another good market growth.

[LimLims]

Why the fuck is bitcoin declining, any FUD new or any whales dump? Dropped now from $11k to $9k

You need to understand Op is that BTC is now a days fluctuating a lot.
When you wrote this post,  BTC was at 9k usd,  but now as of now it's 10k usd+and growing.
So no need to panic.
This is happening as the trading volume for a particular time is increasing.
Hope you get it.

[omonuyak]

there has been lots of FUD nonstop for the past month. practically ever since price reached $13k for the first time this year and stopped to have a small correction and get ready for $15k and then $20k we have been having a lot of FUD as it is the case with every correction in bitcoin.
these small drops below the major support lines are always the last tries of the bears and the whales to get their hands on some cheaper bitcoin before the next rises begin.

The whales will always want to buy cheap and as that, they will always manipulating the price by creating fud. If we really want to make money by investing in bitcoin we must differentiate between fud and reality! Buying during the fud and sell during the reality is the right thing to do. The current happening in the market is just a correction and it is good that we understand that the weekly and daily charts are still showing bullish signal.

[BitHodler]

Things weren't looking that great even before the selloff started, and to my knowledge there's really been no big news since the start of this besides a few rumors of a Chinese ponzi starting to sell off the coins it's swindled from investors that I've mostly dismissed.

I today read that they -allegedly- have started selling before we started going down from $12k to where we are right now. Why hasn't this been in the news before? It's probably just some fud to drive prices lower.

If these scammers were really selling, exchanges would have frozen their accounts and balances already, unless they purposely allow them to sell, but that's highly unlikely since exchanges don't like losing that much fiat liquidity.

In other words, we're experiencing a technical sell-off. We hit the descending resistance days ago and now we're about to, or have already hit the bottom of the ascending support. Today's close will matter.

[leowonderful]

Things weren't looking that great even before the selloff started, and to my knowledge there's really been no big news since the start of this besides a few rumors of a Chinese ponzi starting to sell off the coins it's swindled from investors that I've mostly dismissed.

I today read that they -allegedly- have started selling before we started going down from $12k to where we are right now. Why hasn't this been in the news before? It's probably just some fud to drive prices lower.

If these scammers were really selling, exchanges would have frozen their accounts and balances already, unless they purposely allow them to sell, but that's highly unlikely since exchanges don't like losing that much fiat liquidity.

In other words, we're experiencing a technical sell-off. We hit the descending resistance days ago and now we're about to, or have already hit the bottom of the ascending support. Today's close will matter.

Exactly what I was thinking with the Ponzi news- most of the time this news comes after a large price movement as if people are trying to justify why prices declined and almost never before things start dropping, and unfortunately people who trade off this late news sometimes get stuck in their positions as the price moves in the other direction. I've done some basic charting recently as well, and it seems we bounced off the bottom of an asymmetrical triangle yesterday, though we did wick down below it temporarily. This along with the numerous indicators I'm watching that indicate we're oversold makes me think a bigger bounce may be around the corner.

The below chart is on the daily timeframe.

[STT]

Thats the problem with these darn charts, can be drawn several ways so which way is correct.   It seems a trend must fail multiple times from varied perspectives before it falls hard like was in potential.   I think it looks bearish in several time frames and is also on trend to decline, its been a while coming so my guess would be the negative does take place.



This is only short term but watching if it holds down or not.

[Russlenat]

Why the fuck is bitcoin declining, any FUD new or any whales dump? Dropped now from $11k to $9k

You are easy to react man, as if you haven't seen this before, don't worry about the dump because bitcoin has recovered already.
After being down to $9K, we are now back at $10K and from here, I'm expecting we will again see an uptrend that would again change the mind of the bearish people when BTC were down, this has been the trend this year so far, let's get used to it.

[RealMalatesta]

That was just a normal correction, and if I were you, depending on how buoyant you are, I would actually have taken that opportunity to buy at that $9k because a time is coming soon where you will look for that $9k and you may never see it again because the price would have gone to high. Imagine that you buy at $9k now and then the market grows back to $13k, if you are the type that does shorts, have you not already made like $4k dollars which I am sure that this 413k will be seen again within the next 2 months.

How many people earns such salary within 2 months, but it is something that you can earn with just a simple decision and a very simple process that does not take more than 1hr. which your remaining job will then be to be monitoring the market.

[Lucius]

Things weren't looking that great even before the selloff started, and to my knowledge there's really been no big news since the start of this besides a few rumors of a Chinese ponzi starting to sell off the coins it's swindled from investors that I've mostly dismissed.

How about that you start read more then title or last post? It seems that most have no idea that if one of the biggest exchanges is down for 6-8 hours price of BTC will go down just because of that. People are just stupid and they do not understand why they can not deposit or withdraw, assuming something bad has happened so they spread panic and directly affecting the market.

Fellow Binancians,
Binance will perform a scheduled system upgrade starting at 2019/08/15 02:00 AM (UTC). The upgrade will take approximately 6-8 hours. Binance will suspend deposits, withdrawals, and trading during the upgrade period. Deposits that are not completed before the start of the upgrade will be processed after the upgrade is complete. Please allow some time for deposits to be reflected in your account following the system upgrade.

[SquallLeonhart]

Funny thing is that ALWAYS when are bombastic news presented like bitcoin 15 000 usd til end of week, goldman sachs analyst confirms the trend is bullish and we will see 13800 usd in few hours.. always it goes down.

That should just be a speculative news, don’t be surprise that he might have also seen the decline but would want to do everything possible to use positive news to stop it from happening to the best of his knowledge, and you see, any little slight decrease, we have lots of people that are too weak and would always panic sell when we have any minor dump from probably a whale.

What I have learn is when all these type of high decline happens, I should just probably keep accumulating more because there must surely be a rebound in price, and even if the price of bitcoin does not get to that $15000 now, I so much have this believe that by the end of the year, the price of bitcoin would have actually reached that and maybe even above that but will corrections, settle at that.

[fabiorem]

A whale made a bet with CZ and is now shorting bitcoin so that he can win the bet. As simple as that.

and where is the source of it?

https://bitcoinist.com/whale-bets-binance-ceo-10-btc-that-price-will-drop-below-8k/

[jostorres]

I think it is not declining enough to actually matter, what people do not realize is that as long as there is no wall upside that means the drop is not permanent and its quite temporary. Literally within a day it could go back up to above 12k without a problem because there is very few orders until than but it becomes harder above that. So, this fall is not really something big and should not be cared at all.

I feel like maybe there is a chance of even slightly more falls because people want to get more dollars in their accounts in order to attack more when the time comes, people want to buy more during 12k wall times so that they can break it and than move to above 13 even more levels to make the real money, moving between 9-11 is starting to be boring to people.

[Wind_FURY]

Why the fuck is bitcoin declining, any FUD new or any whales dump? Dropped now from $11k to $9k

Bitcoin declared "dead" many times, China banned it, social attacks everywhere, tried to be co-opted by the mining cartel/top merchants, and losing a few hundred points under $10,000 is scaring you?

Buy the dip, AND HODL.

[darewaller]

This time around the drop hasn't been that much of a drop. It happens that price moves a bit up and down and that is just normal market days, since bitcoin is an unregulated market there is no central organization checking whats going on and any insider trading or any manipulations or speculations etc etc which means the movements are harsher here.

However, even in stock markets (hell even in gold) there are smaller movements, check any stock you want and 99% of them move up and down slightly every day, maybe cents on the dollar and not hundreds of dollars like bitcoin but they do move, couple cents up (sometimes couple dollars up depending on the price) and couple cents down, that is normal.

We in crypto just do that a lot bigger because we are too speculative and can do whatever we want with the price without being afraid of SEC.

[Hamphser]

Buy the dip, AND HODL.

If the deep comes, yes is a buy but at the mean time, the price has started going up, now at $10,400. I think this time is going up for the festive rush. Is always a hodl though.

When there is a dip, trader should buyback immediately to regain its stock of bitcoin after shorting. But it also depends on each trader on what type of investment they have to do whether it's a long-term or short-term.
On the topic, the price is still profitable and it is still bullish if you compared it to the price in a couple of two months ago.

[snipie]

the price is still profitable and it is still bullish if you compared it to the price in a couple of two months ago.

The most important part is this.
Until now, Bitcoin price is profitable in almost 75% of time and i am pretty sure it will be 100% once it returns back to +$18k 

[TimeTeller]

Buy the dip, AND HODL.

If the deep comes, yes is a buy but at the mean time, the price has started going up, now at $10,400. I think this time is going up for the festive rush. Is always a hodl though.

When there is a dip, trader should buyback immediately to regain its stock of bitcoin after shorting. But it also depends on each trader on what type of investment they have to do whether it's a long-term or short-term.
On the topic, the price is still profitable and it is still bullish if you compared it to the price in a couple of two months ago.

Many traders are taking advantage of the current market situation.
If you know how to handle this situation, you will treat this as a good opportunity to get more btc and not complain about the declining price trend.
Sooner or later, I strongly believe that the btc price will go up again.
That is right, short-term or long-term investment, it all depends on the trader.
As long as there is profit on either type, I guess you are already winning in trading.

[Wilhelm]

True. If one thing is near certain it is the multi year bull market.
So if you are willing to wait 5 years any time is a good time to buy.