Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th)

[GeoRW]

Hmm, it didn't even go below 9500.

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[wildey]

Hmm, it didn't even go below 9500.

until now, the price of bitcoin has slowly declined. the last time I tried to look at the price of bitcoin, it was in the range of $ 9500. I hope the price of bitcoin does not go down below the price of $ 9,000.

yesterday the price reached $ 10200 and is currently under $ 10,000 in less than 30 minutes. well, of course, many people are surprised to see this. even in coindesk too, this became a popular news

https://www.coindesk.com/crypto-market-sees-red-as-bitcoin-price-drops-600-in-30-minutes

[omonuyak]

The bitcoin market is really a volatile market. I was watching the market yesterday when this huge drop happens and it doesn't take up to 25 minutes! Bitcoin loses about $600. The only time I have seen this type of volatility is early last month when bitcoin make $1000 within 30 minutes. Hope the market recover soon.

[Lucius]

this is the same thing that has been happening over the past 30+ days. price goes to $10k+ range then comes back down to $9k+ range and the goes back up again. the minimum that was reached this time is not yet as big as last two times for you to get excited

Exactly, unbelievable that some behave as if the OP really was right, and that even last night he announced (change title) "I was right", in time BTC is lost only $400 in value. If anyone want to check price in last 3 months, it is very easy to see that we see similar price drops at least 2-3 times. There's nothing weird about that, is is just time of year when market is act like this, and it is very easy to manipulate with price.

I see this drop as only one more attempt to shake weak hands and take more cheap coins from them, only 4 months is left before the end of the year, and if there is any significant upward action, this will happen in the next few months.

[DrBitcoin]

this is the same thing that has been happening over the past 30+ days. price goes to $10k+ range then comes back down to $9k+ range and the goes back up again. the minimum that was reached this time is not yet as big as last two times for you to get excited

Exactly, unbelievable that some behave as if the OP really was right, and that even last night he announced (change title) "I was right", in time BTC is lost only $400 in value. If anyone want to check price in last 3 months, it is very easy to see that we see similar price drops at least 2-3 times. There's nothing weird about that, is is just time of year when market is act like this, and it is very easy to manipulate with price.

I see this drop as only one more attempt to shake weak hands and take more cheap coins from them, only 4 months is left before the end of the year, and if there is any significant upward action, this will happen in the next few months.

Fair enough. But it’s currently $9400 range. 8K could easily happen today.

That said...I am long term holder. So when it goes down heavy, I look at it as a buying opportunity. I don’t trade, because I ALWAYS lose money that way.

[sunsilk]

I had to admit that you seem to have a good accuracy for your prediction because the market went down. But the price that you had given hasn't been met and we're still few hundreds of bucks away.

[NeuroticFish]

OP, although it was one of the most honest-looking speculations, I didn't think a drop to 8k or lower is highly possible (especially as Bakkt will finally run, it seems).
But I would have given you some credit for your post if you wouldn't have been bragging "I WAS RIGHT" when it didn't go down so much (actually it's still in the range I was expecting).
So no. You were not right. In that time frame it was not even remotely near to 8k. And the time frame has closed.

[Wilhelm]

Time for a new 48hr prediction thread 

[buwaytress]

Fair enough. But it’s currently $9400 range. 8K could easily happen today.

That said...I am long term holder. So when it goes down heavy, I look at it as a buying opportunity. I don’t trade, because I ALWAYS lose money that way.

Less than 20% drop? That's very easy to do. How many days this year alone have we seen 20% drops? And in so-called periods of really low volatility and volume? So yeah, I'm definitely on for that kind of drop but preferably right on 31 August so that I get paid at the dip for my next invoicing =D

We're all long-termers, I think few people would claim otherwise. But what's long term mean to each of us? I suspect that's very different.

BTW, don't you at least sell every now and then for needed cash?

[Lucius]

We're all long-termers, I think few people would claim otherwise. But what's long term mean to each of us? I suspect that's very different.

BTW, don't you at least sell every now and then for needed cash?

I would disagree on that we all are long-term holders, many on this forum trade a lot, or sell everything they earn in any way. Patience is a virtue that not everyone has, and if you need money for food and other basic necessities of life, holding is something that is almost impossible to do.

I almost never sell any coins, but I pay for goods&services with Bitcoin on a regular basis. I believe it is a great method of storing value, few years ago Bitcoin was only $200, today almost 100 times more, and in next 10 years only sky will be limit.

[The Sceptical Chymist]

Hmm, it didn't even go below 9500.

I had to check it, as I hadn't looked at the price since my post in this thread.  It's just below $9500 now, so I don't think OP's prediction was on the money--but it hasn't been exactly 48 hours since he made it yet.  There's still time for bitcoin to drop below $9k (though I'm certainly not hoping it will).  Heh heh.

Too early for victory to be declared here, but I'm keeping an eye on this thread.

[2double0]

Hmm, it didn't even go below 9500.

I had to check it, as I hadn't looked at the price since my post in this thread.  It's just below $9500 now, so I don't think OP's prediction was on the money--but it hasn't been exactly 48 hours since he made it yet.  There's still time for bitcoin to drop below $9k (though I'm certainly not hoping it will).  Heh heh.

Too early for victory to be declared here, but I'm keeping an eye on this thread.

It fell down to near $9300 area where we were all thinking of spotting it at and the OP was lucky to see it sooner than all of us that he's gone lucky with that down-indicating Doji that helped the pattern to continue to decline. I'm getting it as BTC is done now and should bounce back and continue the bullish pattern as the reverse of my thinking is not looking so good for BTC's overall situation.

[Slow death]

Hmm, it didn't even go below 9500.

the price has dropped to $9320

Fair enough. But it’s currently $9400 range. 8K could easily happen today.

It is possible that the price drops to $ 8000, but we have to see how the price will behave in September

Bakkt Clients Can Start Warehouse Deposits on Sept. 6

it may be that in September the price rises considerably

That said...I am long term holder. So when it goes down heavy, I look at it as a buying opportunity. I don’t trade, because I ALWAYS lose money that way.

advantage of Hold for many years is just sparing people headaches, the problem arises if the person makes the wrong investment, something like buying a shitcoin and holding for 5 years and after 5 years have big losses.

[fabiorem]

Bear trap.

[DrBitcoin]

Time for a new 48hr prediction thread 

In 48 hours...Bitcoin will be somewhere between 8000 and 11000.

I’m on a role...I want to keep my next prediction conservative.

Besides...50% of the time my predictions are right every time!

[exstasie]

I had to check it, as I hadn't looked at the price since my post in this thread.  It's just below $9500 now, so I don't think OP's prediction was on the money--but it hasn't been exactly 48 hours since he made it yet.  There's still time for bitcoin to drop below $9k (though I'm certainly not hoping it will).  Heh heh.

Too early for victory to be declared here, but I'm keeping an eye on this thread.

Close enough for me. A 20% drop that quickly (48 hours) was unlikely anyway since we're not in a parabolic run-up anymore.

We broke down from a pretty big consolidation so chances are pretty high that we're going lower. Anything below $9K and I'd say this was an uncommonly good prediction.

[stompix]

I honestly wouldn't be surprised if random guesses from amateurs performed better than predictions from Brian Kelly, Tom Lee, and other prominent "experts."

Well, to be honest, 10 experts (although I hate using this term when it comes to bitcoin) can't compete with 1 million amateurs making guesses.
I'm pretty sure if we held a contest like the one mic is running each day after a month there would be some 'amateurs' who would nail the end of the day price at least twice or three times. But I would put that more on luck than actual skillz.
No offence  , since I know you nailed the price once or twice (?) in those contests

In 48 hours...Bitcoin will be somewhere between 8000 and 11000.
I’m on a role...I want to keep my next prediction conservative.
Besides...50% of the time my predictions are right every time!

Another 48h? 
You got close but the last step was still miles away.

[STT]

Bear trap.

The simpliest conclusion is often the most right when it comes to markets because consensus moves the price.    Its hard to argue with this one but Im not rich enough or clever enough to throw the basketball over my shoulder as I walk away and expect to score.     Many times before its reached this point or similar and the smart thing was to go long, Ive even thought as much but generally not had the guts to do so especially.    Could have made some bucks if I expected such a strategy to play out a few months back.
 Instead I went short and made some pennies today, big whoop     Going from the 50DMA would have worked better but still its not much of a move, main conclusion is sideways we move like a snake.




Lets be totally boring, weekly bars and 50 week MA.     Its yet done anything especially significant, if anything if it rises from here its bullish and probably worth even a leveraged long on the breakout from whats been some negative trend.   I hope I can keep that in mind

[crzy]

Time for a new 48hr prediction thread 

Yeah, and it looks like more prediction like this will begin to appear claiming that there are right. The drop is obvious because of the market situation. If we go lower than $9k again then it wil continue for a short period of time.

[Questat]

How about the next 48hrs, do we feel that it will dump again? We can't still predict exactly what will happen and I could say that predicted it right today but I don't feel that you can make it in the next 48hrs.

With all this market flows, it sounds like that bullish seems to be impossible to show up, not in the bearish season also. If the market will still be like this until the year-end, it'll be fined for me.