Bitcoin Price Dropping - Are You Scared?

[marcuslong]

I'm not scared, I'm sure this is part of the crypto-currrency cycle. Even if I don't have investment in bitcoin now, I'm sure the price will hit high again soon. If I have money now I would buy some bitcoin for sure.

[danherbias07]

If aint part of the plan of whoever manipulates it behind everything then it coud just be part of the market.
We will never know who is trading behind the curtains, it could be you or it could even be me with a group of people that could somehow shaken the market of crypto currencies with large balances.

Fear will always be there. But the question is are we going to let fear take over us too. I mean, specially us who had been in the crypto industry for a long time.

[SummerBliss]

I'm not scared, I'm sure this is part of the crypto-currrency cycle. Even if I don't have investment in bitcoin now, I'm sure the price will hit high again soon. If I have money now I would buy some bitcoin for sure.

Well, natural market movement is considered to be around 5-10% plus/minus but in last 3 days drop is around 20% which isn't natural to be honest. The most prominent reason links to the expiry of high number of options on Bakkt. However, I agree with you later words, price will recover again soon. This drop is just temporary and we may see $15K again by Christmas.

[exstasie]

Not worried.

I've always insisted that the cycles would recur around 4 years at a time following the halving. I still carry that sentiment with me to this day.

Lots of people make that assumption. It seems too obvious to me. When patterns become too obvious, they either start getting front-run by the market......or they fail. I think that's exactly what's happening now. The proverbial "fork in the road."

After the 2013 top, it took almost 3 years to gain this much ground on the ATH. This time, only 1.5 years. So the cycle appears to be accelerating.

Or in the alternative, we are at an inflection point before a long term secular bear market. It's a pretty binary outcome for me.

[davinchi]

I am not saying there is absolutely no relation between price going down and bakkt not having volume, there must be a bit, surely there are some people who got hyped about bakkt and bought because they thought after the 23th there would be a huge price increase and when that didn't happened they just sold. However looking at the transactions you can't deny the fact that there was a ton of whales who sold thousands of bitcoins and then there was a lot of panic sellers following that as well.

So, yeah sure bakkt might had some impact but there were a ton of other stuff that caused it as well, which means bakkt was not the sole reason for it, it was just a helper of this downturn. It is still great because it means we can buy bitcoin for cheap now and wait until volume goes back up.

[Inkdatar]

I'm not scared, I'm sure this is part of the crypto-currrency cycle. Even if I don't have investment in bitcoin now, I'm sure the price will hit high again soon. If I have money now I would buy some bitcoin for sure.

Well, natural market movement is considered to be around 5-10% plus/minus but in last 3 days drop is around 20% which isn't natural to be honest. The most prominent reason links to the expiry of high number of options on Bakkt. However, I agree with you later words, price will recover again soon. This drop is just temporary and we may see $15K again by Christmas.

We already seen the market before it drops and occur an increasing price. This is not new to those who follow the market price from the start up to present. Those who really believes on bitcoin not scared because we already observe the sudden jump of price. Somehow, Bakkt launched affect this btc drops and also their are some reason why it happens. Nice idea to accumulate some btc at this time since I also seeing that it will increase again.

[Ozero]

Until the New Year, another three months. During this time, bitcoin can drop in price to six thousand dollars and then rise to twenty thousand. Of course, it may not rise. Then he will do it next year. Bitcoin constantly presents us with unexpected surprises. Surprises await us this time too.

[The Cryptologist]

For those that have some extra money then it's a different case. So, yest it makes me feel anxious to see bitcoin dropping again and I wish that it just continues to rally and passed to $20k so it can spread it's good performance to altcoins as well. Well, to be honest I'm just waiting for an altseason to come because that is where all my bet is but it needs btc to do good also so I need to rely on it.

[Reid]

It is normal to feel that Fear if you are a new ones.
But old ones in the crypto industry like me? This is something normal that happens in the bitcoin market.
Actually this is just a little of way something bigger that had happened before.

I guess experience really teaches a lesson to people. By spending time looking at the market everyday I may been numb with this kind of dump movements.

[xvids]

No I already seen it fall from $20K down to 3K so what would be next?
I think I would just panic and be scared if it would go back to $1K or below than that.
But as of now I don't think that it would be a reason for me to panic or be scared.

[J1mb0]

When others are fearful you know what to do

Are you saying we should be greedy and buy more Bitcoin at this point?

[aysg76]

No I already seen it fall from $20K down to 3K so what would be next?
I think I would just panic and be scared if it would go back to $1K or below than that.
But as of now I don't think that it would be a reason for me to panic or be scared.

Exactly, the volatility is the core nature of the coin and if you are in the market you have to accept it. Just like this present time, the market had gone bearish many times previously, so I ain't really sacred for the falling price. Moreover, I believe this fall is a temporary phenomenon as the prices will soon incline optimistically...

[Saint-loup]

So you didn't hear about the Lightning Network hack and you didn't hear about the FUD of the Google exploit?  
Have you heard about the low volume on Bakkt at least?  

it's always adorable when people try to explain price moves with news. the "lightning network hack" (if you could call it that) happened a month ago and the google news came out 3 days before the crash. obviously no one cared about either story.

you really think the market crashed because bakkt didn't have high enough volume?

you realize that rallies and crashes occur with or without news stories, right? the most important factors are price and commitment of traders. traders were heavily long heading into the dump. so when price dropped a little bit, it triggered stops, causing new lows and triggering more stops and margin liquidations, inducing panic selling as price quickly dropped 15% in a matter of minutes. that's what price does---it creates feedback loops. lower prices beget lower prices as traders and investors are squeezed into cutting their losses. news pales in comparison to these market pressures.

What do you think now figmentofmyass? You're still thinking the price of bitcoin is low since one month because of a feedback loop that occurred last month? 

[Beparanf]

No I already seen it fall from $20K down to 3K so what would be next?
I think I would just panic and be scared if it would go back to $1K or below than that.
But as of now I don't think that it would be a reason for me to panic or be scared.

It's like we've been through a lot now to get panic for $7.5k, somehow I'm used to it to the point I don't look its price unless I'll plan to do trading, which I don't do much this past few days. I'll be scared only if price didn't increase even a little next year few months or week before halving.

[gabbie2010]

This isn't the first time bitcoin will down this year in may and June the price dumped to $7400 before the price rallied back presently the price is back at that support zones again thus another opportunity for buying I am very optimistic that any pump in the price might hit $10K+, personally I am not scared despite hearing some rumour about Chinese government clampdown on mining bitcoin.

[AliMan]

What will happen to my future if I will be scared of with the latest price outbreak? would that help me recover my asset back to higher value again? Anyway lets not be too literal for this matter, because as we're getting mature with our skills and knowledge on crypto; all certain possibilities is going to happen unexpectedly. Like the sudden crash of btc price which goes down to $7400 quickly after few hours, which during that time btc price range at $8,100 to $8300 with slow changes.

This wasn't a new chaos, and it was just same old tale that also been occurring from the past years. All we need to do is stay calm and never rant for just an speculation might tend to influence your decisions.

[stomachgrowls]

I know some of them are scared and while the others are happy because they can now use this opportunity to buy more bitcoin. I think there is nothing to scared of simply because you already know that bitcoin is volatile so expect that in instant the price might change. The current price of bitcoin is now around 7400$ and I know most of the traders are now scared because once it keeps on falling down it might result in another long downtrend.

Scared is for those people who arent that aware enough on Bitcoins existence specially newbies and amateur on this very volatile market.
When bitcoin drops its price they do start to freak out telling that price would go down to zero or going those unrealistic low levels without
even realizing that we've been experiencing this volatility since day 1.Well not all gets in on the same time but if you do get used to it then
these kind of price drops are just like a normal day.

[somac.]

Hash rate at all time highs, price of a bitcoin getting close to production cost, halving in 6 months, world economy going to shit and bitcoin's supply not possible to be manipulated by CB printing, development of the protocol and 2nd layer solutions in full swing, having personally been in the bitcoin market for me than 6 years.

Yeah man, I'm shaking in my fucking boots. Everyone is a whining little prick when the price goes down. The lack of ability to look even 1 year into the future is fucking bizarre.

[STT]

Should have made this a poll, a scream gauge is how you measure the rollercoaster ride for success.    Also gauging sentiment is quite powerful when speculating for identifying peak sell or buy conditions, in combination with other considerations its good to have a long line of threads speculating the end of everything or a page of BTC going to a million near tops.