Topic: Bitcoin is going down...now at $7,654.85 (Read 731 times)

bitcoin can rise to 10000 usd per btc then if it back to 9000 usd per btc again this does not mean that it need to drop to 8000 per btc usd per btc because of reject resistance 10000 per btc but it can rise from current prices to up 13000 usd per btc
gennerally everyone should not follow short chart for buying bitcoin

While seeing bitcoin going up in price is always nice I cannot have that relaxed attitude, something is happening and trying to determine what is it happening is critical for our future as investors, the charts seem to support the idea the price will stay above 9000 for some time and if the bulls can accumulate enough momentum then we could we another attempt at breaking the 10000 level, if we fail we may see bitcoin closing at 8000, but if we succeed who knows what price we could see at the end of the year.

Before the breakout to +$9k I would say that's not likely, but given the changed sentiment and market dynamics, I can see the price at least attempt to close above the $10k mark, which is quite an important psychological barrier.

As you have seen, for months the price pumps and dumps back to the $10k mark, so if we manage to consistently close above it, we might be heading to even higher levels, but we're not there yet so I rather remain conservative.

Currently we're very close to a significant breakout (it will happen within 24 hours), and that move will decide the direction for the rest of the year and probably the months after that.... fireworks guaranteed!

The first support of $8800 will be tested which I think has enough volume to sustain. If it goes below it, then yes the price will go to the earlier support of $7800 which will be easily reached once $8800 is broken. But i think that is less likely to happen. Price is expected to bounce back from $8800. We need to see the daily close to make any assumption at this point. Resistance of $9650 couldn't be breached. That's why Bitcoin is headed towards the support.

We are still in the recovery, or at least in the accumulation phase before we can go on another bullish ride next year. At least after the massive increase last weekends, bitcoin has somewhat maintained the price around $9k, which is good at a trader stand point.

In view of this, I'm seeing another break out run before the end of the year and will finished 2019 with a bang, probably in the range of $10k-$11k, so there's nothing to worry about.

I saw the price on by it came to 10,000$+ and provably it will came back since the positive scenery is on bitcoins right now and provably we can see more of it since many people speculates about the bull run coming next year and maybe we can see another ATH which can surpass the current ATH happened on year 2017.

10,000 at early on November I see that its not enough for now but maybe it will be exactly by looking at the enthusiasm that occurred in the last few days ,my estimating mid on November predict be 10,000 - 12,000 but a slight correction in early November but remember the future might change

Just a bunch of whales trippin' around selling a lot of bitcoin though. I am no analyst but I am quite sure (not so sure) a little bit sure. This sudden pump up may be did by those whales, and as they finished what they did here we go, back at it again to what must be the price of crypto without them trippin'. Not blaming them but I am just being calm towards this. But who am I to say this, in the end no one still knows.

for the time being, we need to put aside the bear market and enjoy the pump. this is indeed an extraordinary pump, even a few days ago I felt that the price of bitcoin would reach the level of $ 6000. for now, bitcoin prices have stabilized at $ 9500, and there is a possibility that prices will continue to rise. Even though the pump stops at that price, I think the price recovery will start little by little at this time. I'm pretty sure that in early November, the price of bitcoin can exceed the price of $ 10,000.

Some days ago I was predicting a recovery of bitcoin but this is too much, the price went up 3000 dollars in a matter of 24 hours, this is not being back to normal that is a move that is completely out of the ordinary, I only remember seeing movements that large when bitcoin was at the end of the 2017 bubble, and this worries me, is this a sign a bull run bigger than anything we have seen is coming or is this a sign we are at the end of the current recovery and we are about to face another difficult bear market?

Bitcoin going back to $10,000 soon, it hit over $10k today but dropped below but this pump is huge, this means there's a big whale accumulated a big number of BTC because they knew something we don't. I am not gonna bite this pump, I will just enjoy watching it because I am here to hold for long term and I am happy with bitcoin's performance today, we recovered easily, in less than 24 hours everything seem to be back to normal.

Ain't no bull run as for today. It is just as majority stated did by whales may be.

You're not being over optimistic though it is just you're a bold believer on the potential of bitcoin. Anyways, this thing happened a long time ago as well not so sure but I guess in a span of October and December. Pump came in October then it came around November and bull run came in December [please correct me if I got it wrong]. With such happening it might be repeated, as a famous saying history repeats itself, so who knows that it might happened to crypto as well right?

Well as you can see now that as of my writing, Bitcoin has risen and LEDU EOS and Vechain with it. The market is interesting isn't it?

right now the price of bitcoin is back in the pump, and it is at $ 8,300, to be honest, this time makes me excited. within a few hours, the price of bitcoin goes to $ 8k from $ 7k. it is truly extraordinary.

I think the dump that happened a few days ago is like a bonus for investors, I think there are already enough people who return to stock when the price of bitcoin is at the level of $ 7k. bitcoin is still possible to have a price of $ 9k. Forget the dump for a moment, and focus separately for now 

That is a volatile market for you, it would not always align with our thoughts sometimes because of various fundamental factors that we will just see come into the market at any time, which could be a favorable one or could be one that is not favorable.

Like this dip now, I never expected it too to happen, because I am someone that reads news a lot and I must tell you that there was no news that I think would have sent panic to some of the investors that we have that are not strong for them to have start withdrawing their coin from the market, but I think this is just a dip by the whale which should not call for alarm, we just need to be patient and then buy more if we can, there will be a major breakout soon.

See its the nature of btc that it is too volatile and prices fluctuates from $100-$200 within few seconds as they have dropped now but soon they recover as pump is gain in the market.So we don't need to get panic over such normal drops in prices but hold our btc for long term when we are going to see halving next year bull run will hit the market and then prices will reach all time high and will cross $20k that time.Don't worry anything and stay calm under these times.

This is what I had noticed in bitcoin price movement when it has a small correction it will bounce back after how many weeks. So, I didn't worry if the bitcoin price will drastically down as long as I know how to hold for a while. I have doubt after a few weeks the price will surge back again in the market. Especially we are now in the last quarter of the year expecting price going up and the event of the next halving was almost there.

yeah in every succes there will always be failure thay will occur and here it is now.  after this dump/correction btc will now again bloom . that happen because people will invest on this dip or some whales are going to manipulate it in a pumped manner  . we shouldn get blinded by this truth but lets be brave and face it .  being optimistic is also a good trait to adapt on this kind of situation so that we can continue what we started . goodluck to all

How about pessimistic?
Somehow you are being driven by the wave down and all we could see in threads here are negativity about bitcoin.
You already have the answer to your question there. It is unexpected. Now, there might come another wave up. We can just speculate but doesn't really know where it is going.
Still I am optimistic with what is happening. This could just be another bump to bitcoin success.

Many people didn't expect this to happen, bitcoin reached at worst situation while we're moving forward to next month of November. All predictions tend to become reversal actions as per reality breaks its silent undertakings. However, the community feedback still stayed stronger on their principles and remained solemn on their stand against the current market fall, market recovery was their only hope to sustain more months holding valuable asset bitcoin.

well , according to info i get about this flash crash .
"Velocity has been slowing significantly over the past weeks as transaction volume moves over to stablecoins such as tether. Ultimately, this depressed demand for the bitcoin network has lead to this recent drop in price"
and for make it clear,
according to James Bennet,CEO of Byte Tree statement : The price loss was a result of lowered network velocity
before i find this info, i am quite sure market has been manipulate by holy big whales,but that wrong , its really clear its came from market condition it self.
oh yeah, source
but well, i cant forcing you to believe this speculation.

Is the whale controlling the current decline in the price of bitcoin? I can't believe that bitcoin will return as in April it hurts the lowest price, bitcoin at this time $ 7,486 could go down to as low as $ 7k but I think touching to $ 6k is too far to predict.

You are being optimistic, price movement now is just its normal movement, it could drop or pump but what matters is bitcoin is legit and it has a great future waiting. Keep believing as it doesn't matter if it dump now because we all know it will recover in time.

Play the game pretty well if you are also into short term trading, now is the time to maybe buy and wait a bit until its price will again bounce back.
Though I am not certain but I have a feeling that BTC is bound to end not lower than $10K by the end of the year.

Grayscale.  They made huge campaign for people to drop gold. Since Bitcoin is digital gold, people started dropping Bitcoin.

Yeah, shows how easily one can go full insane:


Oh no, somebody please think of the children!!
The end is near!!!


I don't know who this guy is but man, this is a load of crap.
So if bitcoin goes below $2000 you have to close your bitcoin-related business....why?
There was no business before 2017?
How did all of them work when the price was in the 100-1000 range?

I don't get permabulls either but those alarmists are also quite the thing

This condition often occurs, when prices are stable at certain prices over a long period of time, it is likely that prices will fall. same as some time ago, but after that the price will go up. and right now I'm waiting for prices to turn around and go back up.

I think it's normal if marketcaps fall lately, as usual when prices fall then marketcaps will weaken and many people will sell, go out and wait for prices to rise. that's the habits of investors, so it's natural that marketcaps are weakening.

In the last bear market I felt exactly the same. When we were staying above 10k USD it was fine and I felt like it was a decent correction to 50% of ATH, but when we went below It felt like a temporary setback, while everything below 6k was manipulation and totally oversold territory.

I told myself that I'll never sell below 50% of ath and so I did in both bear markets that I held through. I didn't sell below 10k and a year later we were again above 10k so I'm not worried at all. We fell below again and will go back there for sure in 2020 so it's nothing but a matter of time. As long as you have a strong hand you will do great in this market.

It is strange for me that you mention $7800, the least few weeks price was in the range from $7900 to $8600, so about what attempts you are talking exactly? Seems to me like you're talking from the position we are in now, and I think there will be attempts to try to get back price to $8000 level, which will certainly not be an easy mission.

For reasons that may have led to such a sharp fall in price, we can only guess, but I read something which gives a possible explanation:

It got me alarmed when I've seen it on $8,000 a few hours and then afterward dropped to $7,500 very quick. It's not clear though to me on what's the possible reason but it could always be the huge players that started to play it again.

I've read about another bitcoin ETF proposal, I don't know if there's a connection to it. A lot of things that happened yesterday and with just a span of hours it plummeted which is an acceptable characteristic of bitcoin.

If its part of a previously unnoted trend then yea I rate news as it part of the market price and the most 'dangerous' is a story that develops and repeats.   The stuff we can ignore is one offs or just the idea and speculation on an idea which just amounts to just singular instance when Bitcoin market is an economy and in many different nations.
   If mining has some sort of problem that makes it non viable then its big news but also it is adjustable and a competitive market of its own so I dont think its new.   I'd love if we just went back to distributed mining that I can be part of but its not going to happen I guess but I still dont like 'big' companies being the way forward exactly.   Mostly I think economies progressing is always about some people losing and others finding a better way, harsh as that may be.

The pro-hashing guy might be concern trolling, but he might not be.

He's one of the few business people in the crypto space and thus picks up on stuff early. He was the first to flag up the issues that fees were causing in Dec 2017 (which then led to businesses like Steam disabling their bitcoin payment options), so while he is overly negative, not everything he says is wrong...

I’m one of those who surprise about bitcoin price drop today.  This is it the market shows of unstable price but possible may increase the following weeks hopefully. I can say everything is possible in bitcoin it may go below 7k but price may suddenly change and can recover.

At this point we might be heading again to $6k range but let's not lose our hope since $7600 is the support at the moment. I want to expect that it will eventually bounce back again to $8k as soon as possible. Although I have a feeling that it will stay for a while before it starts to bounce back to $8k.

Sometimes, the best strategy is not to trade at all. The market has been given enough signs for over three weeks and I have stayed sideline just watching what will happen next. We can see a retrace back to 6k before we see major move upward again this year.

well, i was surprised btc below 7500, mostly analyst say high support on 7500 resistance. ya , although that info from articles that cannot be trusted completely
any exact news about this situation btw ? or this just dumper time ? , but based on my opinion , market capitalization has lose more than $15,000,000,000 . i am not sure its "just" dump.

This guy has been concern trolling since 2013/4. Not a single one of his predictions have come true. I actually took the trouble to find out how to ignore people on Reddit just for him as he hangs out there the most.

His most recent 'metric' has been measuring the discounts you can get on Purse.io. If they're out of kilter then according to him we're all dead. I prefer deeper and better distributed evidence myself.

No one need give a shit about mining other than miners. So far it has ALWAYS taken care of itself and I don't expect that to change.

Watch some miners on youtube they are doing ok. Also if you have enough money to hold on until the halving you will make profit.

There's not much lower Bitcoin can go. I just don't see us doing the same thing we did in 2018 and breaking through 6000 dollars. This was a very strong support and will act as such support again. We're going to be held there for months if it happens to even go that low.

Have only been surprised on how it took to get that dump, when the price stays in $8000 for that long have been expecting a dump, sellers were more and few buy order were filled. Most buy order are around 6000 and altcoin are not having a good time with bitcoins dump. we should not support the rumor on bitmex influence on the dump cause there have always been an excuse at its dump.

Very interesting article from Pro Hashing about the situation in the cryptocurrency world:

https://forums.prohashing.com/viewtopic.php?f=11&t=6695

This bit about mining was very concerning:


It's possible that today's flash crash was caused by someone liquidating all their coins in order to pay bills before they exit the industry.

I think this sell off is pretty similar to what happened in Nov. 2018 and it was a steep drop due to over leveraged longs getting liquidated. I was watching the order books and there were massive $10 million liquidation and these liquidations took a long time to fill and the market kept getting dragged lower and lower and lower.

There are too many people who are hodling Bitcoin the wrong way. Instead of just buying 1 BTC on the spot market for $8000 they just use some futures or margin exchange and buy 5-10x as much exposure and pretty soon their loss is equal to their initial investment and results in a liquidation. There aren't enough buy orders to fill except for shorts covering and the market crash very fast.

While I have been expecting a drop in the price of bitcoin and many other cryptocurrencies when I consider that this happened this fast I begin to have doubts, for what I can see this seems like an attempt by those that control this market to make the weak hands to stop holding their coins by creating this flash crashes that make people very nervous about their holdings, if I'm right then most likely the price will recover during the next days.

Its part of a pattern of selling, if its fake its been elaborately done over some months now and lots of different exchanges.    The simplest answer is usually the most probable to be correct, people sell because the price is going lower then by self fulfilling the trend to continue.    At some point it balances out but for some period of time, people get weak hands and drop what they hold.    Market has to test peoples willingness to hold, its just how it works I guess and then its done on multiple time frames.  
   Eventually we start to get a consensus, not just day to day but the larger time frames people are willing to let their BTC go and surprisingly its for lower prices each time.   Eventually people are completely exasperated by this negativity and start to demand explanations or explore what is the driving force.    For me, the most simple force of all is just some fear that the price will go lower.   Its a mexican wave of sentiment and right now its a bit negative.   It can turn around, facebook or whoever doesn't really matter and there are positives out there for Bitcoin price but they are long term and it takes time.   13k was too far ahead of the curve imo
  
I'm already thinking it can go back to 8000, just swing right back the way it came but 7625 is the line for it to pass and hold and then its reversed that section of negative action as some start.

I think the issue is that the volume is spread over many exchanges, so you can push the price down on one exchange (if the order books are thin) that triggers the bots to sell on the other exchanges.

In other words none of the exchanges have DEEP markets that can absorb even modest selling. And they don't have decent market makers.

By contrast most stocks are traded on just one exchange, in order for there to be good liquidity.

Reading your post made me to check on cmc and behold price has further dropped to $7557. This is not really good at this moment. Maybe we just might have left $8k zone to going down to $7500-$7000.

This happens because there is a market estimated capitalization (this is when the average price for 1 bitcoin is multiplied by the number of circulating bitcoins) and the REAL capitalization - the price in purchase orders on the exchanges. Altcoins fall even faster due to the smaller support volume, Bitcoin is doing great.

Nope. It's a war against Libra. I haven't watched all of this hearing, but I watched all of the previous ones whenever it was a month or two ago. Bitcoin came out of it well. Libra sure as shit did not. Almost everyone there was well aware of the differences and Bitcoin was something to be nurtured, if warily, and Libra was to be killed with fire.

I see no reason why anyone would sell off based on today's hearing. From what I saw it was largely 'we fucking hate you, Mark' once again.

In my opinion, the potential for bitcoin to fall deeper is still very open. Its clear that bitcoin traders and holders are panicking, they start selling it on the market so that in a short time the price drops to -8.9% in less than 24 hours.
But to arrive at $6000 seems unlikely, there arent many factors that allow the price to go down to $6000 right now.

A whale ? Haha , good one. But this is not the case , its more likely a panic sell created among side traders and holders. It began the moment when Zuckerberg started the conference with the congress , coincidence ? Hmm I think not. A war against cryptocurrencies started again and we need to don't panic and don't sell and instead buy more if you can as this dip is not finished yet as personally I expect to see even lower prices but the bulls are present in this dip so don't get fooled by the bears "whales".

This is a strange explanation. The price also had a lot of attempts at crossing 7800 and that failed as well at least 3 times. There was the same exact reason for the price to go up as it was to go down.
I see this move as completely artificial. Made by a single manipulator and bots who followed him just like that move from 6000 down last year. We are heavily oversold and still somebody manages to push us even lower with one big sell order. Textbook manipulation.

No need to panic just because of the simple reason that the market is down right now, remember Cryptocurrency and Bitcoin are volatile in which it can change anytime. I think this is the good opportunity and don't need to panic, just buy or invest right now, then you can earn a lot when the bull run comes.

Everytime the price goes down people start worrying and panicking. It's a normal reaction because for most of them their money are in game. for those who already understand the cryptocurrency ecosystem and bitcoin movements, changes in price up and down charts are not a problem because we know there will always be a bounce someday. Bitcoin is a long term investment, just wait a few years and you will see the true potential of it.

Price is aiming for the $6000's.

although the drop is not that surprising but i don't see any reason why anybody could have anticipated it. of course you could have given it a little chance as price wasn't going up and attempts at breaking the resistance was failing but also at the same time attempts at breaking the buy support was also failing and it was strong considering it was tested a couple of times withoug breaking and there was no reason for the drop to happen at all.

Traded price is separate dynamic to underlying market, it is slightly surprising how markets move but we can trade any price in theory for a moment but also volume of that price traded matters as well.    Right now today the supply and demand has the market providing this particular price, the way I see it is every time line has a different price attached to it.



My earlier guess was target of about 7000 downwards and then right now 7625 is a level to get back above for some strength.  My perception as of late has been neutral to weakness in the price, we are taking the more negative path with a steeper incline but 9000 is possible still without too great a fight.

The market always over reacts, its like a bucking horse trying to get you to fall off.   Its not supposed to be easy I guess



Nothing is ever that simple though, the 200 DMA is rising still every day.   Most of 2019 has been positive, I expect some rally so even though its hard to see I guess 9000 is reasonable and hopefully I spot it beforehand

I do not think that the price of bitcoin will plunge freely like it is today. sometimes I see the price of bitcoin is still trying to stabilize at the price of $ 8000, and I think in the near future the price can reach $ 8500. however, after seeing coinmarketcap, it was very surprising to see prices that are now almost under $ 7500.

however this will make investors happy, I see a number of threads expecting bitcoin prices to fall, and it looks like they have already started placing orders. getting worse or not, we can only wait for this moment. I am also one of the people who hold bitcoin, and this is enough to make me pay attention to the market.

Because it's a bunch of bots and children all wandering helplessly looking for a solitary stranger with a large and twitching bulge in his trousers to latch on to and go home with. It only takes one to form a lead and then everyone else follows in rapid succession.

So, who is the culprit this time?
-Trump
-China
-SEC
-Bank of China
-Bakkt
-Binance
-Some Hack
-Brexit
-Unknown Whale
-CSW
-Grayscale (just found out a few minutes ago about them)
LE:
-Suckerberg testimony?


Yeah, it always amazes me how a market with a supposed 19 billion a day volume drops 8% with a few million dump.

I don't expect the price to go below the support at $7400+ which is presently holding the price and a possible rejection, the sudden plummet might be caused  by a massive sell by some whales of which no one has the capability of halting such a trade. Bitcoin price always dump or pump massively within a few period of time indicating it high volatility.

I guess because I'm not a chart analyzer, or even a watcher--that's why I'm surprised.  This is one hell of a plunge bitcoin took.  Yikes.

Me neither, though I figured bitcoin could break out of its range and go lower.  I just didn't expect it to go this low this fast, but that's bitcoin for ya.  It never ceases to surprise me what the price can do.  Not sure if more pain is ahead, but I'm not selling--I'm holding on to what I've got, because I'm sure the good times will come again.

The current conditions is for those who can handle the risk and have the nerve to play with the whales, this quick downfall can be backup by another big dive down, best to observe everything first before trying to scalp. It can be another trap from big whales club who wanted to create artificial trend and shake every weak holders hands.

If you have decent assets it would be much better to stay away from the exchange or looking with your balance in order not to be tempted selling with loses, instead, if you have spare money to invest buy additional if the market continue to fall.

I wasn't expecting $7475 right now. Though as I predicted earlier this month looks like Bitcoin failed to hold the price & now it looks like we're going below $7000 in few weeks. We might see another downtrend to below $6k but not sure if we test below $5k again or not. The market condition is not very good right now. I don't understand how could price crash $700 in just 30 Minutes. It looks like a group of people controlling the market. The volatility of the bitcoin market always scars off the real investors. I would avoid trading for now and move to a stable coin. Surprisingly Altcoin market looks good at this recent market.

Bitcoin is down to 7450$ now and I don't see any reason to panic yet. Seems like a whale trying to manipulate the market looking at the sudden dump, building up opportunities to buy more coins for cheap 
Buy every dump, Sell once the price is stable!

Even I am shocked hear a a sudden dump of over $400 and it's bit worrisome as I thought there will not be such a fluctuations looking at past few weeks.  I really wish and hope that your predictions comes true as this dump will send a negative impact to the market and might trigger panic selling to the gloomy market and cause further damage.

Markets have been slow crashing ever since the 20k bubble burst,
the few upticks were nothing more than dead cat bounces, the long term trend is collapse of price below $1000.
Bitcoins survival is questionable.

it is impossible to tell because of what i said above!
look at the charts, there is a big red candle without even causing a volume spike which shows there isn't even that much panic sellers left to dump their coins! compare that with September 24 where we had a similar big red drop and see the volume spike of that time. all points to this being unnatural.

Right now I was surprised to see the price going below $8k, not good.

However, we have been trading sideways for the past days and it's about time we made a break out. The only sad thing is that it went on the opposite side. But I still be fairly optimistic, this is just another bump and I still seeing a jump to $8k above sooner. I appreciate those TA guys around (not naming names here) for giving us a warning about the incoming decline, so I'm prepared but surprised that it came suddenly though.

I think so as well. The price was way too sharp a drop after all. It was almost instantaneous and caught me off guard. I honestly thought it was just gonna hover around the 7900 mark then rise up or at least steady itself by that much.

I wasn't really expecting a possible push towards 9k. The Plummet really caught me off guard. Although it is good news for others and maybe me as well cause I'm considering of buying more BTC before the bullish season. If so, then I'd probably wait a few more weeks and see if it would drop any lower than it already has.
You're not being optimistic. It's just that the market at the moment was manipulated by the whales a bit which caused the price to drop sharply. I hope it would rise back to normal again one of these days but who knows. It really is unreadable at times after all.

Any thoughts on how low it will go?  

Bitmex deciding they want to start making money again?

https://twitter.com/lawmaster/status/1186995147566915585

Anything between 6500 and 11,000 is now officially a bit dull in my eyes. I'm looking to this time next year for some interesting rumblings.

Wow.... as I posted in another thread stating that I expect the price to drop further, I saw this thread and quickly looked up the price, and it wasn't a troll trying to scare off people, but an actual dump of around $500.

Some times you just want to be wrong, but in this case I was not. I rather be right predicting the price to go up, but this is also part of the market after the massive run we had that started in April, which pumped the price from $3k to $14k.

When was the last dip below 8k? Last week, wasn't it? I said then it's been long coming, and today's crash is similarly in the same vein of "should have happened sooner, why did it take so long?".

If all the charts have been suggesting it, and even other fundamentals are not growing more than they should, no reason to think we shouldn't have been seeing these levels earlier.

We've still got a few more pumps above 8k I'm sure too, before we get to see the new direction proper.

Yes it is really surprising me because when I saw morning the btc price was $8250 on coinmarketcap. Few hours later just now checked the btc price on coinmarketcap it is now around $7546 and btc price was down more than 8% really it too bad, why the crypto market going red now and what is the reason behind.

A graph of the plunge:



This seems to me a deliberate attempt to tank the price. Possibly because some futures expire on Friday and someone wants to manipulate the main market because they want to profit from the futures market.

Volume on Bakkt was 332 bitcoins today so far.

Yesterday I thought of selling @8.2k and get out of bitcoin because I knew it will drop soon. But that soon  Honestly I expect 3k in the next months. Of course just a guess. Still hope for ATH.

After several attempts to move toward $9000 which failed, it was expected that bulls will lose power and that something like this will happen. We can only speculate on the cause of such a sharp decline which is still going on (Bitstamp $7445), but very likely the cause is a large dump of BTC on some exchange or some very bad news which is still unknown to the general public.

As things stand, it looks like the end of the year will not be in the sign of an increase, but a fall in prices - which is good news for investors, bad for those who have already invested and are planning to sell by the end of the year.

I don't get why people are so surprised? It's one heck of a short/sell indicator when the price dips below the 200 daily moving average.

My current target is $6800-$7200 which I believe will form as a temporary bottom at the very least. It will be my first DCA entry point, which is what I have been waiting for since we broke out of the descending triangle. The bullish sentiment within and outside the community was very telling as well.

The good news is that this offers a new (potentially last) opportunity for people who missed to buy at these levels previously to do it now.

nobody expected a drop but also they didn't expect a rise either. that is why most investors have been staying away from the market because of this simple uncertainty situation. and when they do that, the order books become emptier which makes manipulating them easier so a big sudden dump from a manipulator can easily crash the price lower and like always the bots go crazy when their stop losses are being manipulated by that dump and start the avalanche.

It happen so quickly, its was 7,989 USD and when I refresh the page in less than a minute the price dives to 7,600USD already.


He must have seen the price will drop very soon. I have noticed it also that when BTC doesn't break out after two weeks, the higher the possibility that price will dive. But I hope this whale will learn the weirdest way possible if some whale counter part intentionally burn him.

This was as always one whale selling lots of coins in a matter of minutes and plummeting the price.

Hopefully he buys back soon :-)

I am not actually expecting this because I was thinking that if Bitcoin can go higher than #8,300 then it will be moving sideways in the next few days. Today, Bitcoin plummeted to lower than its support level and is standing at $7,654.85 per CoinMarketCap figures. The whole cryptocurrency market is on the decline and is painted with red juice color.

Where is the next direction of Bitcoin is everybody's guess but I am a firm and strong believer with this coin that I am predicting that it can in hours be heading south. I am still inclined to believe in many analysts' prediction of it to soon breakout the $8800 zone.

Am I just over optimistic and blinded by things happening the market today?