Bitcoin is going down. - page 4. | Bitcointalksearch.org

bakasabo

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Quote from: Texac on May 08, 2023, 05:42:16 AM

Quote from: bakasabo on May 08, 2023, 05:22:29 AM

Current situation with transaction fees and mempool might play good for Bitcoin (but not for everyone), as it might become a cryptocurrency for rich only, for those who can afford to spend a lot on fees. Thus Bitcoin might become more demanded than it is now, which should push the price up. Fewer people would allow to buy it, making Bitcoin more precious. The current price drop imo is cause by a small panic or better say misunderstanding among users.

do you mean the current high transaction fees are good for bitcoin? we always say that bitcoin is better than the banking system as a low-cost form of cross-border money transfer. but with the current situation, things are getting worse and causing serious congestion, not only the transaction fees are increasing, but the transfer time will also be up to several days. I don't think this is good for bitcoin's reputation.
if there is no regular buy and sell in the market, meaning demand for bitcoin falls, the price of bitcoin will plummet.

No, not trying to say that high fees are good, they create Bitcoin and transactions more valuable. Like silver and gold. Smelting gold needs more accuracy, experience. And you can throw a silver brick on a a pan and go take a coffee. Or like water in desert. It is expensive to get it (to transfer Bitcoin in our case). And if you are thirsty, you would pay any price to get a drink (Bitcoin).

People would avoid transferring Bitcoin, but those who can afford, will be able to pay (share) fees if they want to convert fiat to Bitcoin. Those who hold Bitcoin can start to dictate prices to those who wants to buy. There is always a demand for Bitcoin. But due to high fees, people would transfer less. Which might make people to buy Bitcoin for any price seller might set. I hope you get my idea.

Baofeng

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Quote from: AnonBitCoiner on May 08, 2023, 02:01:00 PM

Quote from: thecodebear on April 19, 2023, 09:45:27 PM

lol. Bitcoin has been going up because the bear market ended a month ago. That is the only reason it needs to go up.

You don't need to freak yourself out just because it is range trading. This is normal buddy.

Whenever the price boosted or come back low then we cannot come to the conclusion that its a Bull or bear run because now the bitcoin is again reduces so it don't not describe about the declining of bitcoin but its just for some moment some days or even some weeks but soon it goes up.

We don't know about the ending of bear market as the price can regularly altered in positive or negative direction. Movement of price is surely normal but avoiding of your emotional behavior during such situations are very essential part of trading to be a successful investor.

Technically though we are still in the bear market, so the price will tend to go down. What we have been seeing since the start of the year is that the price goes on a recovery phase, after we have seen the lowest low of $15,500 due to FTX collapse. But after that, investors goes on the market again. As we can see January alone we have like 40%+ bounce. But it doesn't mean that we are out of the bear market yet.

And in the last 24 hours, perhaps due to the network spam or congestion, a lot has been selling their Bitcoin or maybe converting it to stable coins because it's very expensive to do Bitcoin transaction now. But in any case, it doesn't mean that we will go down hard again. We still have a good support at $27k and if it fall down then $25k is the next big support.

AnonBitCoiner

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Quote from: thecodebear on April 19, 2023, 09:45:27 PM

lol. Bitcoin has been going up because the bear market ended a month ago. That is the only reason it needs to go up.

You don't need to freak yourself out just because it is range trading. This is normal buddy.

Whenever the price boosted or come back low then we cannot come to the conclusion that its a Bull or bear run because now the bitcoin is again reduces so it don't not describe about the declining of bitcoin but its just for some moment some days or even some weeks but soon it goes up.

We don't know about the ending of bear market as the price can regularly altered in positive or negative direction. Movement of price is surely normal but avoiding of your emotional behavior during such situations are very essential part of trading to be a successful investor.

superman184

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Quote from: StreakW on May 07, 2023, 04:40:56 AM

Correct. I agree with you that buying now may be the right strategy for making big profits later. Especially if we refer to the 4-year cycle, then it is possible that in 2024 there will be a bitcoin halving where bitcoin will print new ATH again. So buying now is the right time while the bitcoin price is still relatively low before the bullish and bitcoin halving phase comes.

If you buy Bitcoin at this point just because you are reminded of a four year cycle in which cycle Bitcoin can print another ATH because of the halving. You should have done this last year because it's much better than now although it's also not bad if you want to buy it now, because what you said is part of the possibility that will happen to Bitcoin even though the opposite possibility of what you said is also still could happen to Bitcoin for now.

Quote from: 19Nov16 on May 08, 2023, 04:14:18 AM

Many believe that the price has a chance to drop below $25k again in 3 or 4 days, if we want to buy in large portions of course waiting for a maximum of 4 more days is a good thing, I have also put a buying price of around $24500 on spot exchange and hope that after the drop, the market can rise again.

Hope you get it, because that is also an uncertain possibility so I still don't have much confidence in that given the price resistance support that exists in the market in the area not far from $28K. And even if what you say can happen, it might be very profitable for you if Bitcoin can increase again in the near future.

Quote from: fzkto on May 08, 2023, 04:51:48 AM

Why do you have such a short time frame for this correction? I think three or four days is very short for such a fall. If bitcoin drops 20% in such a short period of time, it will panic and more serious drop might follow. By the way, I think 25k-27k levels are very strong, so I hope that the price will not go lower.

I also don't know why he said that about Bitcoin's correction at such a short time, because I also think that the Bitcoin price can still maintain the $28K area with better chances of recovery in the market. But this is speculation which is basically always difficult to know for sure, but I just hope and believe that in the next four days the price of Bitcoin will not be that low.

kro55

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Quote from: GigaBit on May 08, 2023, 09:17:37 AM

Quote from: Texac on May 08, 2023, 05:42:16 AM

snip

Sudden big drop in BTC price make us worried. BTC price has decreased by 2.9 percent in the last 24 hours. We know that mainly due to network congestion, the pressure has increased a lot. BTC has been paused by network validators. When the network stabilizes, the nodes will start working again. There could be several reasons for the sudden increase in pressure on BTC. But due to network stress, BTC transaction fees have also increased significantly. Increasing transaction fees is definitely not a good attitude. But I think it is temporary. When the network doesn't working perfectly, the pressure increases and the transaction fees also increase. But very soon this problem may be solved.
Reasons why BTC price dropped:

Are you new to the market? How can you worry when bitcoin is down only 3% in 24 hours? If you're excited about bitcoin's 10%, 20% growth, then you also need to prepare for a sudden slump in bitcoin's price. Bitcoin volatility is a roller coaster ride, and 3% is a negligible drop for bitcoin.
We all know that the transaction fees of BTC are very high, I don't know exactly if that is the cause of the bitcoin price correction. But I don't see any surprises or worries for bitcoin, I think the volatility of bitcoin is just market demand. If bitcoin can go up, it can also fall, you can't expect bitcoin to rise vertically without a correction.

GigaBit

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Quote from: Texac on May 08, 2023, 05:42:16 AM

Quote from: bakasabo on May 08, 2023, 05:22:29 AM

Current situation with transaction fees and mempool might play good for Bitcoin (but not for everyone), as it might become a cryptocurrency for rich only, for those who can afford to spend a lot on fees. Thus Bitcoin might become more demanded than it is now, which should push the price up. Fewer people would allow to buy it, making Bitcoin more precious. The current price drop imo is cause by a small panic or better say misunderstanding among users.

do you mean the current high transaction fees are good for bitcoin? we always say that bitcoin is better than the banking system as a low-cost form of cross-border money transfer. but with the current situation, things are getting worse and causing serious congestion, not only the transaction fees are increasing, but the transfer time will also be up to several days. I don't think this is good for bitcoin's reputation.
if there is no regular buy and sell in the market, meaning demand for bitcoin falls, the price of bitcoin will plummet.

Sudden big drop in BTC price make us worried. BTC price has decreased by 2.9 percent in the last 24 hours. We know that mainly due to network congestion, the pressure has increased a lot. BTC has been paused by network validators. When the network stabilizes, the nodes will start working again. There could be several reasons for the sudden increase in pressure on BTC. But due to network stress, BTC transaction fees have also increased significantly. Increasing transaction fees is definitely not a good attitude. But I think it is temporary. When the network doesn't working perfectly, the pressure increases and the transaction fees also increase. But very soon this problem may be solved.
Reasons why BTC price dropped:

irhact

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Quote from: cafee_orange on May 07, 2023, 03:20:42 PM

I don't think the market conditions at the current bitcoin price are stable, but in my opinion the current bitcoin price is worth buying while waiting for the end of the year to arrive, or we will take profits when the bitcoin price soars higher than today. it is possible that the price of bitcoin this year will exceed the prices of previous years. I think if the bitcoin price is still under $ 50,000 it is still a decent price to buy, this is in my opinion.

I think it's risky to buy now unless you're planning on holding for a very long term then you won't have any issue since the current price is a good price but if you're looking to sell in a short term then don't buy yet. Bitcoin is very weak, it has been struggling to breakthrough the $30k price since it did so last month and fall below again. Bitcoin is now trading at $27k and might fall further to $25k.

There's a support at $28k but I don't think it'll be that strong to hold off the sell orders that'll be coming in immediately traders start noticing Bitcoin is falling. So it's better to wait wait until the support at $25k is reach then you can buy as I don't see this correction taking Bitcoin price below $25k.

Nrcewker

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Quote from: bakasabo on May 08, 2023, 05:22:29 AM

Current situation with transaction fees and mempool might play good for Bitcoin (but not for everyone), as it might become a cryptocurrency for rich only, for those who can afford to spend a lot on fees. Thus Bitcoin might become more demanded than it is now, which should push the price up. Fewer people would allow to buy it, making Bitcoin more precious. The current price drop imo is cause by a small panic or better say misunderstanding among users.

Or else it maybe just a price correction. Before a big jump, we have option see some price correction in the price of Bitcoins. Or els this might be just price manipulations by big whales. Anything is possible and yes, seeing the transaction fees is now the big problem. But it will be solved very as soon as the mempool becomes less crowded. Regarding the price of Bitcoins, then when the price falls a little, try to buy at that time, and hence when the price of the coin will go up, sell and make little extra profit. That’s the best thing possible to do currently.

Franctoshi

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Quote from: Texac on May 08, 2023, 05:42:16 AM

do you mean the current high transaction fees are good for bitcoin? we always say that bitcoin is better than the banking system as a low-cost form of cross-border money transfer. but with the current situation, things are getting worse and causing serious congestion, not only the transaction fees are increasing, but the transfer time will also be up to several days. I don't think this is good for bitcoin's reputation.
if there is no regular buy and sell in the market, meaning demand for bitcoin falls, the price of bitcoin will plummet.

It Relatively lower when considering sending huge some amount of Bitcoin in that regards, And when compared with what would be charged if doing a million or billion dollars Cross boarder transaction on fiat and in terms of execution time/speed of the transaction, it still faster than the time it will take for someone to send fiat currency to another country, I do believe more technology will be available on the Bitcoin's network in the future, in order to reduce transaction cost just as using the Lightning network LN, is cheaper right now.

Texac

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Quote from: bakasabo on May 08, 2023, 05:22:29 AM

Current situation with transaction fees and mempool might play good for Bitcoin (but not for everyone), as it might become a cryptocurrency for rich only, for those who can afford to spend a lot on fees. Thus Bitcoin might become more demanded than it is now, which should push the price up. Fewer people would allow to buy it, making Bitcoin more precious. The current price drop imo is cause by a small panic or better say misunderstanding among users.

do you mean the current high transaction fees are good for bitcoin? we always say that bitcoin is better than the banking system as a low-cost form of cross-border money transfer. but with the current situation, things are getting worse and causing serious congestion, not only the transaction fees are increasing, but the transfer time will also be up to several days. I don't think this is good for bitcoin's reputation.
if there is no regular buy and sell in the market, meaning demand for bitcoin falls, the price of bitcoin will plummet.

bakasabo

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Current situation with transaction fees and mempool might play good for Bitcoin (but not for everyone), as it might become a cryptocurrency for rich only, for those who can afford to spend a lot on fees. Thus Bitcoin might become more demanded than it is now, which should push the price up. Fewer people would allow to buy it, making Bitcoin more precious. The current price drop imo is cause by a small panic or better say misunderstanding among users.

fzkto

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Quote from: 19Nov16 on May 08, 2023, 04:14:18 AM

Quote from: StreakW on May 07, 2023, 04:40:56 AM

Quote from: TheUltraElite on April 21, 2023, 12:13:35 PM

Quote from: StreakW on April 21, 2023, 11:43:30 AM

The rise and fall of bitcoin prices is a natural thing. In fact, no one can accurately predict the rise and fall of bitcoin prices. Therefore, if you are sure of investing in Bitcoin, then buy immediately. If you think the current price is low, don't wait for the price to drop further because we don't know how far the price movement of Bitcoin will go in the future.

You can buy now or wait, there is not problem in the latter. Dividing the available cash at hand to buy at different low levels is a strategic option that you can exploit when you sell at different highs. I would rather suggest to buy at the lowest lows the prices reaches, of course it is not possible to always predict and execute the trade by them. These can only be guessed by some accuracy by trading charts and their analyses but ultimately it is our own money so do your own research before investing.

Like I said, let is go down, it only confirms that we will get highly discounted prices to buy at.

Correct. I agree with you that buying now may be the right strategy for making big profits later. Especially if we refer to the 4-year cycle, then it is possible that in 2024 there will be a bitcoin halving where bitcoin will print new ATH again. So buying now is the right time while the bitcoin price is still relatively low before the bullish and bitcoin halving phase comes.

Many believe that the price has a chance to drop below $25k again in 3 or 4 days, if we want to buy in large portions of course waiting for a maximum of 4 more days is a good thing, I have also put a buying price of around $24500 on spot exchange and hope that after the drop, the market can rise again.

Why do you have such a short time frame for this correction? I think three or four days is very short for such a fall. If bitcoin drops 20% in such a short period of time, it will panic and more serious drop might follow. By the way, I think 25k-27k levels are very strong, so I hope that the price will not go lower.

19Nov16

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Quote from: StreakW on May 07, 2023, 04:40:56 AM

Quote from: TheUltraElite on April 21, 2023, 12:13:35 PM

Quote from: StreakW on April 21, 2023, 11:43:30 AM

The rise and fall of bitcoin prices is a natural thing. In fact, no one can accurately predict the rise and fall of bitcoin prices. Therefore, if you are sure of investing in Bitcoin, then buy immediately. If you think the current price is low, don't wait for the price to drop further because we don't know how far the price movement of Bitcoin will go in the future.

You can buy now or wait, there is not problem in the latter. Dividing the available cash at hand to buy at different low levels is a strategic option that you can exploit when you sell at different highs. I would rather suggest to buy at the lowest lows the prices reaches, of course it is not possible to always predict and execute the trade by them. These can only be guessed by some accuracy by trading charts and their analyses but ultimately it is our own money so do your own research before investing.

Like I said, let is go down, it only confirms that we will get highly discounted prices to buy at.

Correct. I agree with you that buying now may be the right strategy for making big profits later. Especially if we refer to the 4-year cycle, then it is possible that in 2024 there will be a bitcoin halving where bitcoin will print new ATH again. So buying now is the right time while the bitcoin price is still relatively low before the bullish and bitcoin halving phase comes.

Many believe that the price has a chance to drop below $25k again in 3 or 4 days, if we want to buy in large portions of course waiting for a maximum of 4 more days is a good thing, I have also put a buying price of around $24500 on spot exchange and hope that after the drop, the market can rise again.

cafee_orange

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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.

I don't think the market conditions at the current bitcoin price are stable, but in my opinion the current bitcoin price is worth buying while waiting for the end of the year to arrive, or we will take profits when the bitcoin price soars higher than today. it is possible that the price of bitcoin this year will exceed the prices of previous years. I think if the bitcoin price is still under $ 50,000 it is still a decent price to buy, this is in my opinion.

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Quote from: TheUltraElite on April 21, 2023, 12:13:35 PM

Quote from: StreakW on April 21, 2023, 11:43:30 AM

The rise and fall of bitcoin prices is a natural thing. In fact, no one can accurately predict the rise and fall of bitcoin prices. Therefore, if you are sure of investing in Bitcoin, then buy immediately. If you think the current price is low, don't wait for the price to drop further because we don't know how far the price movement of Bitcoin will go in the future.

You can buy now or wait, there is not problem in the latter. Dividing the available cash at hand to buy at different low levels is a strategic option that you can exploit when you sell at different highs. I would rather suggest to buy at the lowest lows the prices reaches, of course it is not possible to always predict and execute the trade by them. These can only be guessed by some accuracy by trading charts and their analyses but ultimately it is our own money so do your own research before investing.

Like I said, let is go down, it only confirms that we will get highly discounted prices to buy at.

Correct. I agree with you that buying now may be the right strategy for making big profits later. Especially if we refer to the 4-year cycle, then it is possible that in 2024 there will be a bitcoin halving where bitcoin will print new ATH again. So buying now is the right time while the bitcoin price is still relatively low before the bullish and bitcoin halving phase comes.

Yaunfitda

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Quote from: Pejoh Asu on May 06, 2023, 04:48:39 AM

Quote from: peter0425 on May 03, 2023, 02:56:09 AM

Bitcoin goes down today , But going up tomorrow so what alarms you now mate? and besides are you really investing on this ?or just fudding around?

you are creating thread that cannot be supported nor even you so why would people here needs to believe in what you are speculating ?
common man, be a good person here and not just telling lies that you don't even understand.

It seems that the price is difficult to go up when it passes $ 30k, many people sell because they think that the market will red again, I think the most important thing that makes the price crash is FUDs on social media, according to social media experts FUDs that are spread are structured because they are funded by haters who don't like bitcoins.

That's what we call resistance level, so for now it's $30k and usually it happen during those round numbers. And as we can see it's trending sideways, the positive thing is that it's around $29ki'ish level so that is a good sign in my opinion.

Just the start of the week for May though, anything can happen, including a break out run that will put the price to $30k and up. Or another sideways or worst is that we will have another correction to $25k. So we still need to be very careful, adjust our plans based on the movement of the price.

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Quote from: peter0425 on May 03, 2023, 02:56:09 AM

Bitcoin goes down today , But going up tomorrow so what alarms you now mate? and besides are you really investing on this ?or just fudding around?

you are creating thread that cannot be supported nor even you so why would people here needs to believe in what you are speculating ?
common man, be a good person here and not just telling lies that you don't even understand.

It seems that the price is difficult to go up when it passes $ 30k, many people sell because they think that the market will red again, I think the most important thing that makes the price crash is FUDs on social media, according to social media experts FUDs that are spread are structured because they are funded by haters who don't like bitcoins.

Ani1985

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Today the price can go up and hope it will continue until the end of the month, previously I had a target to sell if the price could reach $ 35k, unfortunately the price stopped at $ 30k, it needs a fantastic increase like January again so that investors are more optimistic.

superman184

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Quote from: Paul Pogba on May 03, 2023, 01:53:25 AM

Bitcoin which uses the concept of decentralization makes the price go up and down, and when the price goes down we have the opportunity to buy more, I'm sure that the price will continue to go up so when the price goes down the best thing is to be calm and keep buying.

The rise and fall of the Bitcoin price is not because of its decentralized concept, but it is still caused by the supply and demand that exists in the market and the buying and selling power of everyone. In general, the suggestions you convey are good, but I do not agree that the problem of price fluctuations is related to the concepts that exist in Bitcoin because in my opinion this is not logical enough to say.

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Quote from: Paul Pogba on May 03, 2023, 01:53:25 AM

Bitcoin which uses the concept of decentralization makes the price go up and down, and when the price goes down we have the opportunity to buy more, I'm sure that the price will continue to go up so when the price goes down the best thing is to be calm and keep buying.

Because decentralization gives anyone the opportunity to influence prices, but of course those with greater power are able to influence prices so that prices can go down or up. Every price drop is an opportunity to accumulate but it can only work for those who always have funds and who have the target as a long term investment, and when the price goes up is an opportunity for traders to take profits after already having Bitcoin at a cheaper price before, Bitcoin can profitable if we understand how it works and not just always panic every time there is a price reduction, because it's impossible for prices to always go up because there are times when people will take profits so there will be price corrections.

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