Bitcoin on the LOW! - page 2. | Bitcointalksearch.org

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: honghe99 on August 30, 2018, 02:23:52 AM

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

you shouldn't have been bag holding altcoins in first place. about 7-8 years of altcoin history is more than enough to tell you that.
as for USDT, be very careful with this altcoin. it is not as safe as you may think. it has become very popular and majority of the market, specially altcoin traders, are using it but this token is still pretty risky because it is a centralized coin which may not even really be backed by real US dollars. and the company issuing them has been known to be shady.

reactorjuno

member

Activity: 322

Merit: 43

Quote from: sakrosak on August 30, 2018, 03:57:39 AM

Quote from: DMCR lah on August 30, 2018, 03:19:55 AM

Quote from: honghe99 on August 30, 2018, 02:23:52 AM

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

it's a brilliant strategy, but when you want to buy you will be faced with the lowest price problem. many people want to buy at low prices but they are not aware if the price is recovering.

if you want to be a trader you have to get rid of greed, many people suffer losses because they hold on too long. I have experienced when the ETH price is above $ 1k.

Agreed. Typical strategy to be a profitable trader is:
Loss = 1
Profit = 2
Which means the stop loss price is extremely important, I am pretty sure 90% of the traders don't stick to this rules and that's the reason why they'll never make money in the long run. Or they will but because luck comes into play from time to time. But you don't want your earnings to be the sole result of luck.

sakrosak

jr. member

Activity: 120

Merit: 1

Quote from: DMCR lah on August 30, 2018, 03:19:55 AM

Quote from: honghe99 on August 30, 2018, 02:23:52 AM

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

it's a brilliant strategy, but when you want to buy you will be faced with the lowest price problem. many people want to buy at low prices but they are not aware if the price is recovering.

if you want to be a trader you have to get rid of greed, many people suffer losses because they hold on too long. I have experienced when the ETH price is above $ 1k.

reactorjuno

member

Activity: 322

Merit: 43

The 6800 price is a strong bullish signal, it has proved many times to be a support and resistance. The price is good now and patience is the key word ...
The only thing that will make me sell against my will now is if we go below 5700, so we are good for now. I also think Bitcoin price will remain between 6800 and 7200 for a while before we see a dramatic change (hopefully up).

DMCR lah

newbie

Activity: 112

Merit: 0

Quote from: honghe99 on August 30, 2018, 02:23:52 AM

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

it's a brilliant strategy, but when you want to buy you will be faced with the lowest price problem. many people want to buy at low prices but they are not aware if the price is recovering.

honghe99

member

Activity: 406

Merit: 10

Buy, sell and store real cryptocurrencies

I am also a panicked person, because all the cryptocurrencies in my wallet are bleeding, now I have sold them to USDT for saving!

V1saya

hero member

Activity: 1050

Merit: 508

Quote from: adaseb on August 30, 2018, 02:13:13 AM

Quote from: BlueStackz on August 30, 2018, 02:09:42 AM

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Than the price goes up and they are looking back on it and say "I wish I bought at 100$", well I don't know about 100 but you could have bought at 6k.

Same people also bought bitcoin when it was 20k and thought it would go up when we said it is too much now they should sell and take the profit, this "buy low and sell high" seems a lot harder for people's emotions than it looks, simple sentence but hard to execute for some people I suppose.

Yes and this is why its called speculation and trading because nobody knows what will be the bottom and what will be the top.

Generally when BTC keeps going lower and lowers, its easier making money trading it short.
When it goes up and up and keeps creating new ATH, its easier making money trading it long.

Hence the reason why there are many bears right now and why everybody was bullish at $20K.

Problem is there will be a reversal eventually but the question is when.... and at what price.

An ETF approval next month would spark another FOMO and should probably reaches another ATH. A rejection means another shorting. But sometimes market makers will as much as possible confuse people so they can collect money before its true price direction.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: BlueStackz on August 30, 2018, 02:09:42 AM

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Than the price goes up and they are looking back on it and say "I wish I bought at 100$", well I don't know about 100 but you could have bought at 6k.

Same people also bought bitcoin when it was 20k and thought it would go up when we said it is too much now they should sell and take the profit, this "buy low and sell high" seems a lot harder for people's emotions than it looks, simple sentence but hard to execute for some people I suppose.

Yes and this is why its called speculation and trading because nobody knows what will be the bottom and what will be the top.

Generally when BTC keeps going lower and lowers, its easier making money trading it short.
When it goes up and up and keeps creating new ATH, its easier making money trading it long.

Hence the reason why there are many bears right now and why everybody was bullish at $20K.

Problem is there will be a reversal eventually but the question is when.... and at what price.

BlueStackz

legendary

Activity: 1204

Merit: 1028

When you tell people that bitcoin is low and they should buy, everyone fears that bitcoin may go even lower, you specifically tell people it is at a dip and even if it drops a bit it won't drop a lot, its a great price to buy, yet they are afraid and some of them are even cocky and say "it is dead, it will never be 20k" or something like that.

Than the price goes up and they are looking back on it and say "I wish I bought at 100$", well I don't know about 100 but you could have bought at 6k.

Same people also bought bitcoin when it was 20k and thought it would go up when we said it is too much now they should sell and take the profit, this "buy low and sell high" seems a lot harder for people's emotions than it looks, simple sentence but hard to execute for some people I suppose.

timerland

hero member

Activity: 1526

Merit: 596

Quote

And I just cannot believe my eyes, a lot of people have panicked, selled their holdings right away, and are just straight up scared with the current situation right now

Panic selling is completely normal in a bear market like this. It's not anything unexpected.

The same goes with FUD and just bearish sentiment overall within the market. They are both pretty much expected components within a bear market. As long as you don't buy into the panic, you are fine. What people do with their money is completely up to them, and it has been proven time and time again that the sentiment of the market is usually irrational in volatile times like bear and bull markets.

The logical thing to do right now isn't to panic sell, but rather to slowly accumulate with dollar cost average as your primary technique. We're approaching support at $5.8k and prices are generally extremely cheap. Holding and buying rationally in anticipation for the next bull market seems like the most profitable action right now.

aencarnaci

sr. member

Activity: 448

Merit: 281

Quote from: Herbert2020 on August 28, 2018, 12:16:52 AM

Quote from: wuvdoll on August 27, 2018, 11:34:21 PM

The market is still in a bearish state and like someone rightly said, though we may be in a falling wedge but the fact remains we are still in a falling wedge and until otherwise, we are still falling anyway. The market still have the potentials of going as low as $3k, but even at that, anyone can be wrong, but we should always put everything into consideration at the least.

a bearish market is when price goes down, the falling wedge is also when price falls down. but price has not been falling down for a very long time. if you look at the charts price has been in $6k range for the whole August and it has not gone below the bottom ever since we hit $5900ish back in February (6 months ago). technically the drop has been over for about 3-4 months at least. we have been at the bottom at a consolidation stage.

it is true that a drop to lower price is possible but being possible doesn't mean we are in a bearish market! a lot other things are also possible but the possibilities don't define the market and its trend. the trend itself defines it.

I understand you perfectly well. But you also have to understand that we are still inside this wedge channel whether we like it or not, and the only reason I can ever change my bearish sentiment is when we are able to print out a higher high and higher low which so far all we still have is lower highs.

We may experience some bullish move in a short term which the market is showing signs, but that does not mean if you look at the longer time frame, the market is still not in a bear condition. It is interesting though to see this point has been holding despite bear attempt to squash that support, but until I can state categorically, that we have an uptrend, based on what the chart is giving and not just at the moment, then I will say we are still in a downtrend.

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Quote from: Hobo66 on August 27, 2018, 01:28:58 AM

Quote from: First77 on August 08, 2018, 11:09:11 AM

Quote from: aqila baruroh on August 08, 2018, 11:06:49 AM

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

We are not expecting the price to decrease more, I think that bitcoin price is getting a very good support at that price and that is the reason that we are not expecting anymore decrease in bitcoin price.

We are not expecting anything. The market can decide to do as it pleases anytime. We may be seeing this as a very good support, and since the chart pattern shows a falling wedge which is usually bullish when it gets to break out, we still cannot state categorically if we have hit the bottom or not. As long as $5500 to $6200 is holding up as a strong support, we must conclude that we have already tested the bottom and no more further falling down will be possible unless otherwise earth breaking negative news hits out.

What I can see in the market currently is just mixed feelings and the market trying to decide where to go next, but for what it is worth, the signals may be bullish, but we both know it is not the first time signal ended up failing.

Barbut

hero member

Activity: 1694

Merit: 502

★Bitvest.io★ Play Plinko or Invest!

Quote from: onrise on August 28, 2018, 03:25:21 AM

Quote from: aqila baruroh on August 08, 2018, 11:06:49 AM

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

Do not feel low the market has started to recover and reached 6900$+ . SO we can see soon we will be in range of 7k and move towards 8k in Sept . We require this momentum to keep on continue so that sooner we are back to the range of 10k+ where the people could be little relief and feel better as many have bough at those rates.

Price was under 6,000$ couple times this year, but nothing serious, each time price bounced back over that mark and month ago we had price close to 9,000$, drop back to 6,000$ and now price is rising again. That is great for this year, comparing this prices and ranges with market behavior when I started to trade we are now very high, and we are setting up new bottom.
Bitcoin is on the low, this year will be the last year when people will be able to buy bitcoin under 10,000$, I think price will pass that mark until new year and in next year we will have higher bottom than this year. This is not a slow progress, every year we are higher and there is no reason for this rise to stop.

onrise

sr. member

Activity: 1512

Merit: 316

Quote from: aqila baruroh on August 08, 2018, 11:06:49 AM

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

Do not feel low the market has started to recover and reached 6900$+ . SO we can see soon we will be in range of 7k and move towards 8k in Sept . We require this momentum to keep on continue so that sooner we are back to the range of 10k+ where the people could be little relief and feel better as many have bough at those rates.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: wuvdoll on August 27, 2018, 11:34:21 PM

The market is still in a bearish state and like someone rightly said, though we may be in a falling wedge but the fact remains we are still in a falling wedge and until otherwise, we are still falling anyway. The market still have the potentials of going as low as $3k, but even at that, anyone can be wrong, but we should always put everything into consideration at the least.

a bearish market is when price goes down, the falling wedge is also when price falls down. but price has not been falling down for a very long time. if you look at the charts price has been in $6k range for the whole August and it has not gone below the bottom ever since we hit $5900ish back in February (6 months ago). technically the drop has been over for about 3-4 months at least. we have been at the bottom at a consolidation stage.

it is true that a drop to lower price is possible but being possible doesn't mean we are in a bearish market! a lot other things are also possible but the possibilities don't define the market and its trend. the trend itself defines it.

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: omonuyak on August 27, 2018, 02:37:47 AM

Up and down is the cycle of cryptocurrencies market and if we want to make it we have to follow the market. Cryptocurrencies market has given great return to the day traders this days because of this cycle and you can really makes it by following this cycle. Bitcoin is on a down ward trend since January this year and we should expect more of the bearish trend.

I also share the same opinion with you. The market is still in a bearish state and like someone rightly said, though we may be in a falling wedge but the fact remains we are still in a falling wedge and until otherwise, we are still falling anyway. The market still have the potentials of going as low as $3k, but even at that, anyone can be wrong, but we should always put everything into consideration at the least.

We may be lucky to have some bullish momentum in this few weeks with altcoins, but I would still be very careful knowing the state and condition of the market. Probably, with bitcoin holding above $6900, this may be a good sign enough for the alts to have bullish activities. But, until we are having double to triple confirmation, it is highly recommended not to invest big still keep buying on dips at low amount is highly recommended.

babanana

member

Activity: 120

Merit: 10

Quote from: First77 on August 08, 2018, 11:09:11 AM

Quote from: aqila baruroh on August 08, 2018, 11:06:49 AM

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

Dont trust BITMEX. ITS a SCAM EXCHANGE

You will lose your money!

omonuyak

sr. member

Activity: 882

Merit: 269

Up and down is the cycle of cryptocurrencies market and if we want to make it we have to follow the market. Cryptocurrencies market has given great return to the day traders this days because of this cycle and you can really makes it by following this cycle. Bitcoin is on a down ward trend since January this year and we should expect more of the bearish trend.

Hobo66

hero member

Activity: 1344

Merit: 502

Quote from: First77 on August 08, 2018, 11:09:11 AM

Quote from: aqila baruroh on August 08, 2018, 11:06:49 AM

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

We are not expecting the price to decrease more, I think that bitcoin price is getting a very good support at that price and that is the reason that we are not expecting anymore decrease in bitcoin price.

First77

member

Activity: 266

Merit: 32

Quote from: aqila baruroh on August 08, 2018, 11:06:49 AM

I was very surprised to see the price of bitcoin falling like a rock, the price of bitcoin has dropped from $ 7200 to $ 6500 in a very short time. I hope this is all over soon.

bitmex CEO said "bitcoin will reach 5000 before it will go moon"

Topic: Bitcoin on the LOW! - page 2. (Read 677 times)