please delete

[perla]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

Buy, i agree. For who already bought, maybe just be patient. Bitcoin have bigger possibility to back  increased again than we speculate in altcoin with this condition. Or maybe force ourselves to do trading. Maybe more lose that we can possibly get.

[SquallLeonhart]

Considering money is not technically "out" of crypto market. Look at the altcoin markets right now, there are tons of them moving like crazy and there are ton of green ones as well. The money in the crypto market didn't leave, it just changed places because people are sick and tired of playing on bitcoin world and there are tons of whales and manipulators in the bitcoin world.

So, they moved to altcoins because there are less people that could manipulate it, there are hundreds of coins of value and rich people can't divide their attentions to altcoins, not all of them at least. We have been waiting for an altcoin attack eventually, maybe this is it?

In the end whatever happens I am sure bitcoin will recover and that money which went to altcoins will go back to altcoins in order to get profits realized and that is when price will go up.

[buwaytress]

And that's almost the 200MA buy flag too, which, as people insist to point out, will always result in a strong bounce... even if it actually hasn't happened today yet despite people saying it has (it went from about 6600 7 hours ago to 7200 now).

So people will probably still take profit around these levels or close to 8k before another dip or two to test that 200MA. And then the bounce will be big, methinks.

[Doell]

of course this a buy flag is certain we have seen a correction far enough ,I think also the price will return to 10,000 this week and will continue to rise before the big celebration for the end of the year well finally there is a sign that is expected during my vacation

[boyptc]

And I think those who bought under $7k are wise.

While every negative news that's relative to bitcoin and cryptocurrencies becomes the 'main' reason why the market plummets. -this is the most believed reason and what we're looking for when the market is down.

[panganib999]

Well, seems like the market has agreed to the BUY flag. Earlier ago, BTC was sitting around 6.5k and after a few hours at the moment, standing at 7.2k. Just from this we could already see that a lot of people were waiting for the possible bottom line of BTC before starting to buy again, and the result was that it stood at 6.5k before making the people buy once more. The people who bought at 6.5k were quite gutsy and was the one who supported the push for BTC to 7.2k, which is right now.

[Juggy777]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

@SapphireSpire you have summed it up very well because one should always buy bitcoins on the dips, and those who brought today at $6700 levels are already in profits as bitcoins is now trading at $7200 on preev. Also I’m not sure if you’ll noticed or not but many people decided not to sell their coins during this dump, it seems the community has finally understood the need to hodl and hopefully they’ll act smart and buy bitcoins on the dips too.

[error08]

Seems bitcoin price has rebound or is it? I thought it will drop to $6000, we're more than happy to buy at discount time.
The current drop doesn't make sense considering what is coming next month and next year, but it's eventually a really good opportunity to buy bitcoin at a cheaper rate, so let it be. Don't miss the chance, yes it's the time to place your bet.

[BrewMaster]

whenever bitcoin price is dropping, everyone says it is manipulation but at the same time they don't believe it themselves which is why they panic sell instead of happily buying at that discount they are getting out of pure luck.
there probably are people who see past the manipulation, like OP maybe, but when we look at the market we can see that panic sellers at this point are dominating in numbers and they don't want to see past the manipulation until it is too late and price has recovered.

[Lanatsa]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

@SapphireSpire you have summed it up very well because one should always buy bitcoins on the dips, and those who brought today at $6700 levels are already in profits as bitcoins is now trading at $7200 on preev. Also I’m not sure if you’ll noticed or not but many people decided not to sell their coins during this dump, it seems the community has finally understood the need to hodl and hopefully they’ll act smart and buy bitcoins on the dips too.

We cant still say that there were no people who didnt sell off their coins on such levels.Pretty sure that there are still ones who do such thing yet shaking off weak hands is always been a target when theres a price movement some sort of manipulation but the good thing here is that the price hasnt been affected too much.Quite surprised when bitcoins price did dip down until 6700 a few hours ago and it did changes up and go to the same level of 7200+ and above which for those who bought on those dip do really have some instant or few hours hundred of dollars on profits which isnt a bad choice after all.Its a matter of risk though when buying out.

[sikke]

Precisely what I'm arguing for as well.

The fundamentals has not changed a bit. The only thing that has changed are people's volatile emotions, which is obviously irrational given the fact that any recent news regarding China was completely expected in the first place.

Plus, there are signs that $7k support may hold after all, which calls for DCA as a buying strategy right now. As I've said countless times, halving is just around the corner which is what some people are neglecting right now as well, which will be a major bullish factor.

[Pearls Before Swine]

There is no ONLY reason to the price actions of Bitcoin, manipulation is possible, spreading fud and tanking the value further to create opportunities to short the currency.

True, but I haven't seen much fud around lately except *after* bitcoin already dropped, which is to be expected. 

Don't have a clue myself as to what's happening in the market, but as usual I'm caught short of funds to buy bitcoin with.  If I had it, I would be buying at $7000 easily.  Bitcoin is a screaming bargain at that price in my opinion, and it was even lower than that in the past 12 hours.

Seems bitcoin price has rebound or is it? I thought it will drop to $6000, we're more than happy to buy at discount time.

Yes it did, tho not by much.  When I was watching the price last night it was heading toward $6500 and I seriously thought it might be lower than that when I woke up but it wasn't.  Only time will tell whether it'll stay above $7k, but part of me wants it to stay this low until I can come up with some investment capital.  I would be happy if it went up, tho.

[exstasie]

Seems bitcoin price has rebound or is it? I thought it will drop to $6000, we're more than happy to buy at discount time.
The current drop doesn't make sense considering what is coming next month and next year, but it's eventually a really good opportunity to buy bitcoin at a cheaper rate, so let it be.

The devil's advocate argument is the 2020 halving is already priced in. Some people believe that's what the rally to $13,800 was all about.

Personally, I'm seeing some early signs of bullish accumulation though. This cluster of hourly volume candles in the $6,700-$7,300 range makes it look like someone is accumulating big time:



I've been saying for a while the $6,300 area is a real sweet spot, a confluence of supports. We have the OTE 70.5% Fibonacci level, the apex of the 2018 triangle, a super low volume notch/gap to be filled from the May rally. It would be suiting for the market to front run that level and not allow traders to buy it.

Either way, I agree with David that we're near the bottom.

[adaseb]

I think the reason for the sudden drop is not the China exchange crackdown but it just margin and over leveraged traders getting liquidated into a thin order book of bids.

Everybody saw Bitcoin almost touch $20K then when it broke $10K again it got people's attention again. So people loaded up at $10-12K and most likely when it hit $6700 or so their position almost lost half its value. But this is if they didn't use leveraged. The people who used leveraged at like $12K most likely added more at $10K and then at $8K and then at around $6500-7000 their position was either liquidated or they just closed it to end the pain.

This is common in stock market trading also, even stocks like Facebook or Apple have these large drops, people are way over leveraged and just sell to end their pain and shortly after it usually reverses.

[bitvalak]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

Besides this nearing the end of the year, big players take profit taking before closing the year. Then do a buy back after that. I think the decline still continues before 2020

[alexsandria]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

Yes, and will always be. Price changes are highly sensitive in dumping. It is always a good thing in a sense of opportunity to buy loads of bitcoin knowing that bitcoin price may soar in future specially halving is near to come. The only way this wouldn’t be a good thing is if you think Bitcoin is dead, and it is heading down to Ground Zero which is not, and highly impossible to happened.

[kapalmabur]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

Yes, and will always be. Price changes are highly sensitive in dumping. It is always a good thing in a sense of opportunity to buy loads of bitcoin knowing that bitcoin price may soar in future specially halving is near to come. The only way this wouldn’t be a good thing is if you think Bitcoin is dead, and it is heading down to Ground Zero which is not, and highly impossible to happened.

if you want to buy Bitcoin now it might be potential in the next few days to $ 8000,
although there are some people who also predict that bearish will continue, I still see the movement of bitcoin now,
if you buy at yesterday's support price at $ 6700 maybe you can sell now

[danherbias07]

If only I have seen that lower than $7k then it would be better. 

Yes, it is a buy flag and it looks like it is going to be staying here for a while until bitcoin buyers will see that it is time.
Don't want them regretting the few hundred bucks for not buying now.
There might be a speedy pump before the end of the year. I am hoping.

[LouVandetta]

Has Bitcoin change? Did it fork, was it hacked, is it any less useful as a medium of exchange?
The ONLY reason the price is down is because somebody somewhere out there decided to
dump it at this price, not because Bitcoin is suddenly less valuable. Exchange prices can be
easily manipulated (fiat banks) and are highly sensitive to the unpredictable decisions of big
traders who are acting on emotion. Whenever this happens, it's a huge BUY flag.

I think the price will be sideways for a while around $7k. There is a possibilty it will go up and the other way around.
If you bought bitcoin when the price was around $6600-ish, well it is indeed a buy flag. I mean, if it's really manipulation on the price, there must people behind them that trying to buy at a lower price and then giving another good news to make it bounce back up.

[stompix]

whenever bitcoin price is dropping, everyone says it is manipulation but at the same time they don't believe it themselves which is why they panic sell instead of happily buying at that discount they are getting out of pure luck.

When the price is dropping like a stone is a manipulation, you should definitely buy, everyone screams buy buy buy!
When the price is skyrocketing, everything is perfectly normal, not a soul is saying don't be stupid and sell, this is a fake rise.

When we reached 13k  everyone was saying back to 20k, this is the right price, buy now, fill your pockets. The same guys were after that claiming 10k is the real price, the bottom, then 9k then 8 k.

Whenever I hear people shouting and opening topics about "not panicking" I am 101%sure those are already pissing their pants in fear.

So what, we dropped to 7k, what's the big deal?
We went to 3k last year, why would anyone that is planning on the long term be panicking now?
All this collection of topics shows that 99% of the people here are actually for the small gains and if they don't manage to get 100% in a few months are entirely disappointed.

I think the price will be sideways for a while around $7k. There is a possibilty it will go up and the other way around.

Oh, so the price could go sideways, up or down.
I think you have covered all the possibilities.