Bitcoin is going down. | Bitcointalksearch.org

Aanuoluwatofunmi

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Quote from: RewFrew on August 11, 2023, 02:00:24 PM

We saw some days ago all signal were for up but now showing for down. Now Bitcoin price is $29300.

When things like this are happening, it's a call for more attention on holding and those that wanted to buy to come in before we enter into another phase where the bullrun may start, $29,000 is still dip but since we have recently seen the market getting upto $30,000 indicates there's every possibility that anything new could come up anytime from now, the case scenario now is that we don't know how far it could go before stopping, but there is definitely going to be the move anytime from now.

pawel7777

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Quote from: RewFrew on August 11, 2023, 02:00:24 PM

(...) And it will continue i think. Now everyone should hold stable coin or cash now i think. Because i think anytime Bitcoin can huge dump. That time will best time to buy Bitcoin or another currency. Because now we are not seeing any sign to increase Bitcoin price. I think Bitcoin price will going to $20k again. And if it go more down there has no surprising i think. (..)

You sure do a lot of thinking. Do you have any justification for that $20k prediction, or are you just saying it might happen?
It's true that anything can happen, but we do have more bullish signs on the horizon than bearish ones, mainly halving and the BlackRock's spot ETF.

Quote from: RewFrew on August 11, 2023, 02:00:24 PM

(...) Many crypto whales are telling Bitcoin price will come near about $15k. I wish within this year market will positive and bitcoin price will increase.

I'm going to call you out on this one. Name one. Just one.

p.s. This thread was started in April and was discussing different price action. Bitcoin dropped to $25k region but rebounded to over $31k. Not sure is there any point of keeping this topic alive.

RewFrew

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We saw some days ago all signal were for up but now showing for down. Now Bitcoin price is $29300. Gradually bitcoin price decreasing now. Bitcoin price was stable at $30k but gradually decreasing. And it will continue i think. Now everyone should hold stable coin or cash now i think. Because i think anytime Bitcoin can huge dump. That time will best time to buy Bitcoin or another currency. Because now we are not seeing any sign to increase Bitcoin price. I think Bitcoin price will going to $20k again. And if it go more down there has no surprising i think. Many crypto whales are telling Bitcoin price will come near about $15k. I wish within this year market will positive and bitcoin price will increase.

uswa56

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Quote from: gaston castano on May 29, 2023, 09:25:13 AM

Quote from: zaim7413 on May 13, 2023, 09:24:54 AM

The price of Bitcoin is wild, it can go up to $4000 then it can drop $5000 in a matter of hours. The very volatile value of Bitcoin makes its movements unpredictable. I've never been worried about the value of Bitcoin being traded at the moment, it's normal for bitcoin to crash after experiencing turmoil. Whatever the reason, nothing can make Bitcoin go down even further even if you suggest saving cash or stablecoins.

Previously Bitcoin was traded at the level of $800, Even in 2011 bitcoin was traded at a value of $3. There is no need to panic with the current market conditions, Bitcoin will continue to grow and give profits to people who don't panic easily.

I think for now going up and down 4000-5000$ is very difficult, because I feel that whales are still keeping bitcoin prices and making manipulations, my prediction is that this dump isn't over yet.
they take advantage of the current trading leverage.

We can see Bitcoin price movement throughout this year and there are more positive trends than corrections that have occurred and currently the price tends to stabilize at a price of 30k, isn't that a pretty positive thing.
Thus I conclude, it is a stable price even if there is a pump or correction but it will not be far from a stable price and will not last long.
But again, we have different speculations with different indicators. There's nothing wrong if someone speculates that the Bitcoin price will fall, but no one knows for sure.

Regarding significant price movements, isn't that a natural thing, and it has happened, but in the last few weeks the market hasn't worked that way.

go-shiba

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Potential Implications of the Price Drop

The recent drop in BTC's price could have a significant impact on the cryptocurrency's future prospects. If the price continues to decline, it could cause many investors to lose confidence in the cryptocurrency and sell off their holdings. This could lead to a further decline in the price and could prevent BTC from making a recovery.

On the other hand, if the price starts to stabilise or even increase, it could be a sign that the market is feeling more confident about the cryptocurrency and could lead to a renewed influx of investors. This could cause the price to rise again and could help the cryptocurrency to make a strong recovery.

gaston castano

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Quote from: zaim7413 on May 13, 2023, 09:24:54 AM

The price of Bitcoin is wild, it can go up to $4000 then it can drop $5000 in a matter of hours. The very volatile value of Bitcoin makes its movements unpredictable. I've never been worried about the value of Bitcoin being traded at the moment, it's normal for bitcoin to crash after experiencing turmoil. Whatever the reason, nothing can make Bitcoin go down even further even if you suggest saving cash or stablecoins.

Previously Bitcoin was traded at the level of $800, Even in 2011 bitcoin was traded at a value of $3. There is no need to panic with the current market conditions, Bitcoin will continue to grow and give profits to people who don't panic easily.

I think for now going up and down 4000-5000$ is very difficult, because I feel that whales are still keeping bitcoin prices and making manipulations, my prediction is that this dump isn't over yet.
they take advantage of the current trading leverage.

crypticj

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Quote from: Rigon on May 19, 2023, 01:16:03 PM

Nothing can be said right now with the current state of the Bitcoin market. Here as you have assured that the market may go down further but I can't say for sure at the moment whether the market will go down. But I would say those who have money to invest can invest. Because the market may not go down after that, if it goes up from here, your investment may be disrupted. So if a person wants to make a long term investment then I can tell him to buy bitcoins and invest from here. Because the market is still suitable for investment.

There are signals that indicate it. You can just look at the statistics and see that there is a correlation. And even now it's obvious that the economy isn't getting better. Biden was even saying that there is a danger of default happening.

So considering all these facts, it's hard to believe that bitcoin will just magically go to 60k. That's why I pointed out some factors that might indicate that the economy WILL get better and Bitcoin will go up.

rhodelmabanal

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Quote from: crypticj on April 19, 2023, 09:38:19 PM

Hello everyone.
As you can see, bitcoin is going down and I believe that it will keep falling.
As I explained in my last posts, this Bitcoin rise wasn't sustainable. There are literally no reasons for Bitcoin to go up now.

So I want to remain you guys again that right now is not the time to buy bitcoin.
Inflation is still high, interest rates are still getting higher, FED is not planning to stop any time soon, and the economy is suffering. All these reasons won't let Bitcoin rise from the ashes YET. But I believe we will see the end of it this year, probably in Q4.

So I recommend holding on to your cash/stablecoins right now and waiting for the signals to buy Bitcoin.
And as always, the best signals to look for: FED start cutting rates. When this will happen, it will mean that economy will start recovering soon so it's a great time to buy anything you want before crypto and the stock market will go up.

Have a nice day and take care.

Yeah we need to wait for the dip to buy more and hold for now the best strategy is to hold your crypto asset or maybe we can swap it yo stable coin to avoid the losses but if we can hold it strong then we can hold it as long as we dont sell it at loss we will not loss it is about how we can sustain to hold even if we saw the value is falling.

Rigon

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Quote from: crypticj on April 19, 2023, 09:38:19 PM

Hello everyone.
As you can see, bitcoin is going down and I believe that it will keep falling.
As I explained in my last posts, this Bitcoin rise wasn't sustainable. There are literally no reasons for Bitcoin to go up now.

So I want to remain you guys again that right now is not the time to buy bitcoin.
Inflation is still high, interest rates are still getting higher, FED is not planning to stop any time soon, and the economy is suffering. All these reasons won't let Bitcoin rise from the ashes YET. But I believe we will see the end of it this year, probably in Q4.

So I recommend holding on to your cash/stablecoins right now and waiting for the signals to buy Bitcoin.
And as always, the best signals to look for: FED start cutting rates. When this will happen, it will mean that economy will start recovering soon so it's a great time to buy anything you want before crypto and the stock market will go up.

Have a nice day and take care.

Nothing can be said right now with the current state of the Bitcoin market. Here as you have assured that the market may go down further but I can't say for sure at the moment whether the market will go down. But I would say those who have money to invest can invest. Because the market may not go down after that, if it goes up from here, your investment may be disrupted. So if a person wants to make a long term investment then I can tell him to buy bitcoins and invest from here. Because the market is still suitable for investment.

crypticj

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Quote from: pawel7777 on May 19, 2023, 11:18:33 AM

Fine, but by that logic, there are thousands of individual, publicly traded stocks with market caps much lower than Bitcoin's. So why would you say that Bitcoin is easier to manipulate than those?

Everything can be manipulated. But I think bitcoin is safer in this way, because of its popularity, it's widely distributed across a lot of people in the world. Even if someone is holding a lot of BTC and will dump it to manipulate the price, it won't be THAT scary. The hardest hit bitcoin saw was a Chinese ban, but in that case, the entire country sold its BTC and crypto. But even after that bitcoin recovered and went up.

pawel7777

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Quote from: posi on May 19, 2023, 09:43:46 AM

Any financial market will be manipulated, but with a small cap market, without any regulatory authority, manipulation is much easier. If you think that a market with a capitalization of more than 10 trillion USD like gold is still heavily manipulated, with a market capitalization of only 1/10th of gold like crypto, will manipulation become difficult? I'm not saying it's always manipulating all the time, but manipulating prices for profit in crypto more than any other market. Do you think bitcoin's drastic price fluctuations are based on supply and demand?

Fine, but by that logic, there are thousands of individual, publicly traded stocks with market caps much lower than Bitcoin's. So why would you say that Bitcoin is easier to manipulate that those?
And I don't think regulations have that much impact on preventing manipulations by 3rd parties (they might be helpful in preventing manipulations by "creative" reporting though), GameStop's stock hype can be a good example.

I guess you could say that stocks have fundamentals, which is something that Bitcoin (and other cryptos) are lacking.

Fesatmas

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Quote from: crypticj on May 18, 2023, 12:13:31 AM

Quote from: pawel7777 on May 17, 2023, 02:10:33 PM

The correlation between stocks and bitcoin price is not always that strong and there was a moment.

The decoupling of bitcoin from the stock market is usually an exception. If you take NASDAQ and bitcoin charts, you will see that they usually move in the same direction. They have some differences overall, but they are both an assets so the same rules apply for both of them like if the economy is getting worse, there are less people that will buy bitcoin and stocks.

Yes usually an exception, but if the poor economic situation both have almost the same movement, but as we know that Bitcoin has a higher volatility than what happens to Nasdaq or shares in general that is what distinguishes it. But yes returning to the Demand Market Honestly, that is what will make the market movement improve or worsen.

Quote from: Semar Mesem on May 18, 2023, 02:43:13 AM

Last March when the price could reach $ 30k then I am optimistic that the price will continue to rise and my estimate can reach $ 40k in April or May, unfortunately the price continues to decrease and makes us have to be patient, we will wait if May can return to $ 30k or not, if it's still under $30k then it's going to be hard to see the price rising any time soon.

Yes, of course it would be very difficult to find a faster increase in bitcoin if the economic situation deteriorated and interest rates are still high, we need to wait some time in advance to Bitcoin to reach the price of $ 30k again.
But for people who want to do this DCA moment is one of the moments that is quite recommended to make a purchase because it seems that Bitcoin has a strong wall at a price level of $ 26K.

posi

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Quote from: pawel7777 on May 18, 2023, 10:34:35 AM

Quote from: posi on May 18, 2023, 10:01:42 AM

There is a bigger difference that you ignore. The stock market is more dependent on supply and demand, while the cryptocurrency market is not entirely based on supply and demand and is manipulated most of the time.

How is Bitcoin's price any less dependant on supply and demand than any stocks or commodity? Can't any publicly traded instruments be manipulated the same way? Gold is known to be heavily manipulated (via trading of the "paper" gold) etc.

Any financial market will be manipulated, but with a small cap market, without any regulatory authority, manipulation is much easier. If you think that a market with a capitalization of more than 10 trillion USD like gold is still heavily manipulated, with a market capitalization of only 1/10th of gold like crypto, will manipulation become difficult? I'm not saying it's always manipulating all the time, but manipulating prices for profit in crypto more than any other market. Do you think bitcoin's drastic price fluctuations are based on supply and demand?

TravelMug

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Quote from: MoonOfLife on May 18, 2023, 06:38:51 PM

Quote from: Semar Mesem on May 18, 2023, 02:43:13 AM

Last March when the price could reach $ 30k then I am optimistic that the price will continue to rise and my estimate can reach $ 40k in April or May, unfortunately the price continues to decrease and makes us have to be patient, we will wait if May can return to $ 30k or not, if it's still under $30k then it's going to be hard to see the price rising any time soon.

If bitcoin can cross $30k in May, what will prove it won't fall back in June? Bitcoin could drop from $69,000 to $15,000, so there's no reason for it to hit or break $30,000 that would warrant further upside once it breaks through that level. We are still in the bearish season, so even if bitcoin breaks through any resistance, there is no guarantee that it will break out of the downtrend and enter the bull season. Wait for the halving event, it's time to think about a bull season.

And to add to that, it means that we are still very far from the bitcoin bull run that we are expecting. The only upside is that we are over from the bottom last year, $15,500 and we thought that we could go down further to $10k'ish.

Now $30k might be a good price target, after all we are still in the bear market as you pointed out. But there could be good news or catalyst for us to again try to get back to that price. But with the BRC-20 affecting the tx fees to a high, we might not have any positive news to push the market to $30k this May, in my opinion.

MoonOfLife

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Quote from: Semar Mesem on May 18, 2023, 02:43:13 AM

Last March when the price could reach $ 30k then I am optimistic that the price will continue to rise and my estimate can reach $ 40k in April or May, unfortunately the price continues to decrease and makes us have to be patient, we will wait if May can return to $ 30k or not, if it's still under $30k then it's going to be hard to see the price rising any time soon.

If bitcoin can cross $30k in May, what will prove it won't fall back in June? Bitcoin could drop from $69,000 to $15,000, so there's no reason for it to hit or break $30,000 that would warrant further upside once it breaks through that level. We are still in the bearish season, so even if bitcoin breaks through any resistance, there is no guarantee that it will break out of the downtrend and enter the bull season. Wait for the halving event, it's time to think about a bull season.

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Quote from: pawel7777 on May 18, 2023, 05:01:04 PM

Quote from: Falconer on May 18, 2023, 11:00:19 AM

Regardless of whether that conclusion is correct or not, but I think there are always those who consider bitcoin as a safe store of value asset instead of a high-risk investment asset.

Someone who still had price volatility in mind when choosing bitcoin as a store of value would definitely not agree to using bitcoin as a safe store of value. This mindset certainly exists among investors, but it must have elicited a sceptical response among some who think 1 bitcoin = 1 bitcoin.

Sorry, but that's precisely why some would label Bitcoiners as a bunch of detached-from-reality fanatics. Irrespective of how you consider it, Bitcoin is volatile, that's not an opinion but a fact. Stating "1 btc = 1btc" in the context of the store of value is silly, as it's not the best in holding the value, because of high volatility.
Whether you express value in USD or anything else, e.g. loaves of bread is irrelevant. The point still stands.

Apparently when you talk about store of value in it real content it means asset A vs B where A=$ values on stock market and B= asset holdings, e.g Bitcoin as an asset value can only be calculated based on its exchange value against other assets on the exchange and this time bitcoin dollars cost average plays a very significant role in determining the value of bitcoin.

So the idea of 1BTC=1BTC may only be correct if the bitcoin is trading against itself, but if bitcoin trade is between dollars then its dollar value at the point of exchange becomes the real value of bitcoin at that time.

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Quote from: Falconer on May 18, 2023, 11:00:19 AM

Regardless of whether that conclusion is correct or not, but I think there are always those who consider bitcoin as a safe store of value asset instead of a high-risk investment asset.

Someone who still had price volatility in mind when choosing bitcoin as a store of value would definitely not agree to using bitcoin as a safe store of value. This mindset certainly exists among investors, but it must have elicited a skeptical response among some who think 1 bitcoin = 1 bitcoin.

Sorry, but that's precisely why some would label Bitcoiners as a bunch of detached-from-reality fanatics. Irrespective of how you consider it, Bitcoin is volatile, that's not an opinion but a fact. Stating "1 btc = 1btc" in the context of the store of value is silly, as it's not the best in holding the value, because of high volatility.
Whether you express value in USD or anything else, e.g. loaves of bread is irrelevant. The point still stands.

Falconer

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Quote from: pawel7777 on May 18, 2023, 10:34:35 AM

Quote from: Falconer on May 18, 2023, 10:15:20 AM

Bitcoin is a store of value during inflation and has been considered by several investor groups.

Meaning BTC is generally still viewed as more of a high risk - high reward type of investment rather than as a safe store of value.

Regardless of whether that conclusion is correct or not, but I think there are always those who consider bitcoin as a safe store of value asset instead of a high-risk investment asset.

Someone who still had price volatility in mind when choosing bitcoin as a store of value would definitely not agree to using bitcoin as a safe store of value. This mindset certainly exists among investors, but it must have elicited a skeptical response among some who think 1 bitcoin = 1 bitcoin.

pawel7777

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Quote from: posi on May 18, 2023, 10:01:42 AM

There is a bigger difference that you ignore. The stock market is more dependent on supply and demand, while the cryptocurrency market is not entirely based on supply and demand and is manipulated most of the time.

How is Bitcoin's price any less dependant on supply and demand than any stocks or commodity? Can't any publicly traded instruments be manipulated the same way? Gold is known to be heavily manipulated (via trading of the "paper" gold) etc.

Quote from: Falconer on May 18, 2023, 10:15:20 AM

Bitcoin is a store of value during inflation and has been considered by several investor groups.

It would be great if that was true but it's simply not. Bitcoin had its biggest rally during the low inflation/low interest rates period, and it's just not performing well as a hedge against inflation. When CPI goes up, Bitcoin's price tends to drop, which can be explained as people having less disposable income and are reducing their spending on crypto. Meaning BTC is generally still viewed as more of a high risk - high reward type of investment rather than as a safe store of value.

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Quote from: crypticj on May 18, 2023, 12:13:31 AM

Quote from: pawel7777 on May 17, 2023, 02:10:33 PM

The correlation between stocks and bitcoin price is not always that strong and there was a moment.

The decoupling of bitcoin from the stock market is usually an exception. If you take NASDAQ and bitcoin charts, you will see that they usually move in the same direction. They have some differences overall, but they are both an assets so the same rules apply for both of them like if the economy is getting worse, there are less people that will buy bitcoin and stocks.

Basically I agree that there are some similarities about the two assets especially in the current economic situation. Bitcoin and stocks are affected by economic conditions that are clearly a worldwide problem until tomorrow, but on the other hand bitcoin can still go in any direction regardless of how the stock market and economic conditions are out there.

Bitcoin is a store of value during inflation and has been considered by several investor groups. but I doubt whether stocks will be considered as such during inflation. I think that's the difference that makes me optimistic that bitcoin is a different investment asset and it won't be forever impacted significantly by the stock market downturns and upsurges.

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