One more bitcoin dump ?

[Wysi]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

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[Artemis3]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

Sounds like that. The bottom is uncertain, but i don't think all the whales will be able to return back fast enough, but that sure would make the price spike. Some traders are making lots of money, but be aware that in the long run Bitcoin will keep preserving value over infinite fiat currencies.

Trading is risky, and the people losing is like 9 to 1. If instead, you decide to buy, once you do just relax and wait a few years, you will see how solid bitcoin really is. If you don't have the patience or discipline for this, then perhaps this is not for you.

No matter how wild the price might fluctuate at some point, the historic trend will prevail. Zoom out and take a look at the whole picture, not 1 year or so.

[TGD]

Worst case scenario, It will dump on 5k level because support is sitting there. But 3k to 4k while bitcoin halving is near? Last April is the end of the bear market that starts on 2018. I'm expecting to reach that level again after the halving. Don't hype too much about the dump and try to learn how to analyze TA. Even I is not too knowledgeable on TA but I know how to analyze current market situation by determining the support zone.

[harizen]

Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

We still have that strong support at $7,000, $6,000, etc. Just let those dumps came to see how strong our bottom is. Chances are always there that bitcoin price will go back to sub $4000 or below but it doesn't mean bitcoin will dive on that level easily.

Even past performance will not guarantee future results always remember that this dump is not new anymore. A reversal trend can happen anytime out of nowhere.

Turned that bearish* status into an advantage instead by considering adding BTC on our precious stash.

[Beparanf]

I doubt the $4k to $3k range, before it goes there, it may already start to pumps especially halving is about to happen next year, BTC is not moving that fast to decline easily to that range. Probably $6k the least till this year and starts to arise before halving happens. It's just my speculation and I consider to be it this way so I can convince myself to take advantage of this price to accumulate more when halving period is on.

[ecnalubma]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

We dont know, probably its another organized pressure on Bitcoin. Manipulators are keep playing the price and we really can't do anything about it. On the positive side lets grab this opportunity to accumulate more, but lets all be careful because it can go lower than we might expect.

[senin]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

This may be another price manipulation before the next stage of market growth. In any case, I want to hope so. It’s somehow not very nice to see Bitcoin falling in price in the last months of the year. If altcoins did not suffer from this, then it would have been half the trouble. However, they have not normally grown in price for almost two years.

[Republikcoin.com]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

This may be another price manipulation before the next stage of market growth. In any case, I want to hope so. It’s somehow not very nice to see Bitcoin falling in price in the last months of the year. If altcoins did not suffer from this, then it would have been half the trouble. However, they have not normally grown in price for almost two years.

I understand your feelings because I feel that way too. maybe at the moment, the decline in the price of bitcoin occurs before the pump prices are high (I hope so). however, if the decline continues even to the level of $ 6000, I think this is bad enough for the end of the year where further developments will be halving. I think that this should be the moment when the price of bitcoin rises. but I think that's the opposite.

[Wexnident]

It obviously looks like a manipulation by a sudden dump by the whales. It's not really a crisis since I doubt the whales could affect the market apart from what they already did. It shouldnt go below 6k or even 6500 at that especially with the halving on 2020. It is a plus on those who want to accumulate coins before the next growth or the market this coming 2020.

[malevolent]

It obviously looks like a manipulation by a sudden dump by the whales. It's not really a crisis since I doubt the whales could affect the market apart from what they already did. It shouldnt go below 6k or even 6500 at that especially with the halving on 2020. It is a plus on those who want to accumulate coins before the next growth or the market this coming 2020.

Not everything is a whale manipulation. There isn't enough optimism to drive the price higher, perhaps bitfinex/tether isn't willing to print USDT out of thin air to prop up the price, and the halving is likely to be mostly priced in considering that it's public knowledge.

[CryptoBry]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

I am inclined to believe that the bears can get more powerful in the next few days, then afterwards they can have enough and we will be back growing towards $8000 again. There are no clear reasons for this sudden crash except that there is just less buy activities on the part of Bitcoin thus the dip. Though some analysts already pointed to this possibility, I am still in awe because I already assumed we are already in the momentum towards $8500 and then $9000, so I am so wrong. I don't see it going back to the $5000 nor $4000 zone but then remember that I am not really good at predicting where Bitcoin can be going.

[watergold]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

This may be another price manipulation before the next stage of market growth. In any case, I want to hope so. It’s somehow not very nice to see Bitcoin falling in price in the last months of the year. If altcoins did not suffer from this, then it would have been half the trouble. However, they have not normally grown in price for almost two years.

Manipulation? I do not think this is not whale doing manipulation is indeed a market condition like this, if there is growth in the market there must be a decline but who knows how long this will happen if bitcoin conditions continue according to it will be a lot of losses and it will be good for investors to buy it at a time like this.

[exstasie]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

No crisis here. Not yet anyway. We still haven't done a 61.8% pullback of the bull run yet. That's a typical bull market retracement level. We could even go back to the $5,000s and everything might still be rosy.

I'm not too worried. After we find a local bottom on the weekly, the next major move I expect is a bounce to the $9K-$10K range. After that, I'll take some profits off the table and reassess.

[BitHodler]

I think that $6k is where the support will kick in.... at some point the bearish sentiment will be countered by the bulls where we hopefully get to bottom out and have that be a reversal point.

If we are indeed heading down to $6k we'll see it happen rather quick when we breach ~$7k because there isn't much support that I can see.... that's going to be a brutal shakeout but one we apparently need.

The worst part about corrections in my opinion is the sideways consolidation after we finally found a bottom as months of very boring price action will drive a lot of people nuts.

[huu78]

As usual, the market always played whales and the fact that the market is still bad now.
But Not everything is whale manipulation. It's not time for a small person to trade because prices will go down not conducive.
Hopefully, the market immediately improved to be quieter and without risk when trading.

[error08]

Anything can happen in the next 24 hours, whether bitcoin will rebound, drop below $7000 or hold this position.
If it's not over yet, it means whales groups in action to dump bitcoin, in order to manipulate people to sell-off.
If this dump over, the current price is a chance to buy bitcoin at cheaper price as bitcoin will gain more value towards the end of the year and halving.
Don't hesitate to buy more bitcoin if this dump continues, it's discount time. Next year bitcoin surely reaches above $10K-$20K.

[gandame]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

Its been natural to us that bitcoin is dropping and old investors like that because they can buy more bitcoin.
But to the newbie maybe they are panicking because they have know idea that bitcoin are going to down and up.

[eaLiTy]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

There was not a market direction for weeks and there was nothing positive in the market for the market to pump and hence it is not a big surprise that we saw a fall in the market, i am not expecting a rapid downfall in the market, it is possible that people will be taking advantage of the correction to invest more and we might see a small pump in the market in the next two days, as some suggested not everything is manipulated by whales, it is how every financial market works.

[CarnagexD]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

We do not know if the sudden falling price of bitcoin is the the sign for another bear market. 7,458$ the current price of bitcoin and it seems it might fall down to 5000$. I know of the members think that whales are also the reason why there is suddenly drop on the price of bitcoin. Lastly, do you think bitcoin will drop 5000$ in the end of this month?

[Oasisman]

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

We do not know if the sudden falling price of bitcoin is the the sign for another bear market. 7,458$ the current price of bitcoin and it seems it might fall down to 5000$. I know of the members think that whales are also the reason why there is suddenly drop on the price of bitcoin. Lastly, do you think bitcoin will drop 5000$ in the end of this month?

Let's cut out the whale conversation being the main reason behind the ups and downs of the bitcoin price, because thats probably not the case here.
Though, there was no certainty on why Bitcoin plummets to the lowest figure since May.  Few of the possible reasons might be the low trading volume and  the increased regulatory scrutiny where Zuckerberg and Libra was involved.
Lastly, $5,000 is possible or even worse $4,000, something that weakhands probably been worried of.