Topic: Bitcoin on the LOW! (Read 677 times)

All the market is going down right now, bitcoin is experiencing a slight but a very slight recovery, I really think that people need to get used to the idea that the market is going to be very bad for many months or even years, this is going to be the only way to survive this without losing your mind or losing your money, but if you're holding something other than bitcoin then you are probably going to suffer even more.

Yes you are right, you should always take the opportunity every time the market prices are dumping because in this way you can earn more profit when the market starts to pump up again.

Quite honestly, hard to guess about the near future.
The price should have went down more 3 weeks ago, but the support around 6000 is strong
To break this support... difficult it will be I think.



That chart is the reason why I have no idea about the near future. Looks like two different trends, opposite trends going into a fight. Which one will prevail?

This has been an important topic around taking place from the beginning of this year. Yes again bitcoin value went down but don't get panic take this opportunity to buy more bitcoins. Because we all know bitcoin has a bright future, the price will certainly increase after the recent dump. So just hold the bitcoin you have and once the market recovers, decide and sell them off for a better price. I assume that the value will not fall more than $6000 now, so hope for a decent income in few months. Hold back your coins with patience and confidence.

Apparently, who would not like price reductions for anything ? This is more like the market giving you a discount to buy into a market that was once high before and for those who said they want to invest, I believe that is where the idea of investment comes from as long as they understand the benefit they stand to gain in the long run.
A lot are still trying to expect the market to go up more than it is, but we still have to understand we are in a downtrend and a little upward movement is not a guarantee at all.

Bitcoins purchased before 2011 cost less than a dollar each, not $100-$200. Remember that a $20 pair of pizzas cost 10,000BTC in 2010.

Anyone holding since then is unlikely to sell more than a tiny amount if they absolutely must sell, maybe a couple of hundred coins if they needed a couple of million dollars to buy something.

I seriously doubt Bitcoin will ever go below $6k again.

take this opportunity, never think that bitcoin will continue to go down forever, take as much funds as possible to buy a few btc, and you have to believe the end of the year the price will increase several times.

Yeah it's on lower price compared to the normal price and buying today will give you chance to get profits once you hold your bitcoin until the market recovers. Have more patience as this will take enough time.

not at all. when market is down it means you should sell. what makes it good time to invest is reaching the bottom or being close to it not just dropping. for instance $15k was also a "down" for bitcoin but it wasn't the right time to buy. but the bottom or close to it is these days near $6k to $7k and that makes it a good time to buy bitcoin.

Most people don't know why Bitcoin has fallen. In fact, the recent market decline is caused by ICO. They don't have much impact on Bitcoin, and ETH is the biggest victim!

Did you know that to make trade is as if we were in the war? How do you think people buy low and sell high? someone will always give up and sell low because they could not stand the pressure psychologically, and another person will profit because he had the calm, patience to sell at the right time. Often you will hear comments like "the price will fall to 3000 $" this may be a strategy that some people are using to make the price fall for them to buy cheap


You keep spreading your poison.

At present the demand in the market is quite good and I don't think this has come down,can all see in the previous year new hardfork have sprung up on BTC and that is increasing demand rapidly in the market.I think if want to go up there must be a new project breakthrough so investors are interested in push prices,clear now is a positive trend.

Can you point me to any price level this year that was actually low according to you? In my book we haven't seen the price be undervalued at all this year, and for that reason don't understand all this panic.

If the price was actually undervalued the market would have bought it up again in a quick fashion. Historically Bitcoin spends more time being overvalued rather than undervalued, and that applies to current levels as well.

I consider prices around the $4000 mark to be undervalued and thus an extremely good buy. $5000 is a good buy, where buying at current levels is more like a 50/50 bet in all fairness.

If you always tend to panic in the market then you will keep on losing your investments, the best thing to do is just hold your coins and read different positive speculations to boost your self on holding your coins.

I love these topics, they start a topic stating how bitcoin is low and before even the second page comes around you get a price spike in bitcoin and all of that is for nothing, lol. I mean this is bitcoin, yes sometimes it is low, sometimes it goes high, it is a volatile market we are in and there is no reason to get excited about on both of them since the other will be just around the corner to balance things out. I think anyone who considers buying should wait a week or so and see if this increase in price is here for staying or will it have a correction in price back to $6k levels once again before deciding on buying.

Some of these things are normal since a lot of people usually do not have pretty much good knowledge to be able to make any decision in the market and considering the volatility of the market, they are usually always scared not knowing what could be happening next.

For instance, someone said on this forum that he has been buying the dip right from $14k and still buying the dip until now without knowing if the market could still go down the more. It is still a good opportunity for those who understand the long term opportunities, but for some, that is something they really are not after, except to want to get rich overnight.

some people like to see a decrease in bitcoin prices, because they use that moment to buy as much bitcoin as possible. and they will hold until the price rises again.

I won't be in the red zone even at $5700 as I bought at a lower price than that, but I really don't think it will happen anyway, I was more expecting a correction to circa $6500, and we'll overtake $7,000 again in September. I posted my theory already about manipulation by the CME.

Why you will sold at a loss? $5700 price will not happen with bitcoin. I strongly believe on that but of course there are still possible that we can go below $6500 level again since a lot of people are waiting for the ETF maybe if we hear negative news about it again, expect the price to dump hard. Don't panic it will just make the situation more worst. Hold your bitcoin for long, and never sold it at a loss.

What surprises me the most is when a lot of people see some quick growth in the market, they start calling for the moon. Sure, the market shows some bullish sign at the moment looking at the divergence as well as crossover on MACD, and most of the alts also trying to gain some ground in those moments.

I feel we may see a little rally towards the upper part of the wedge around $7300 or thereabout, but I still have at the back of my mind, the bears may still want to take one last attempt on that $6k region which may end up not holding. All in all, I guess we have to enjoy the current moment.

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.

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.

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.

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).

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

Dont trust BITMEX. ITS a SCAM EXCHANGE

You will lose your money!

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.

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.

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

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.

The declined of the price has something to do with the delay/postponement of the SEC decision on the Bitcoin ETF. Just imagine what will be the impact it would bring if there is a rejection. And it looks like its creating a lot of panic, I really don't understand those people who will suddenly push the sell button. And I'm sure that the first one to panic are those people who are very bullish about bitcoin in the last couple of weeks. This is just another bump along the road, no need to panic guys.

I believe he is saying that current market is going down and people are panicking for that reason. I mean this is just the same thing as we would always see when the market is going down and unreasonable people that is weak handed one's will start panic irony and will always get more overwhelmed with the current situation. I guess this is what we are speaking here and this thread particularly. I think this time people might have gotten crazy about the current situation because everyone was so relaxed after seeing the market recovering itself so nicely and suddenly the mega dump occurred.

Good time to buy and accumulate more right now. BTC is on a fire sale!

You don't even need to own Bitcoin to short it. Those whales in Bitfinex and Derivatives and Futures market are making billions of dollars each day shorting the market. They make Bitcoin go up and pretend we are going bullish then as soon as people start having some hope of a bull run, they pull the plug and as long as they can make money like this every month and bleed the market out of all the little fish, they will keep doing it. They do not care about the technology , nor do they care about others. They care to make billions and steal all the wealth from all the new people coming in.

I have predicted that the decline in bitcoin will happen again, and I did not feel happy when Bitcoin reached $ 8200 a few days ago. because I know how volatility the crypto market today.

some people feel happy and say that the correction will end and welcome the bullish market.

but their hopes are lost when bitcoin drops again. bitcoin only gives a fake bullish market.

I am laughing.

Don't worry hold for long term

Today was probably the most desperate day for the price of BTC, suddenly down 10 percent, the market is getting weaker and the prices of BTC and altcoin are also falling sharply, with many investors selling off their encryption.

Bitcoin holders who have 4,000,000 Bitcoins purchased before 2011 for $100 or $200, they have the Bitcoin market.

When they sell, bitcoin is going to $2000.

August 8, 2018, Bitcoin is ongoing, the flow is outrageous as some people have said, the price continues to go down, the price exactly went down today at $6,401.30, A lot of people are panicking and are being boggled by the price, and I think that most of these people who are panicking right now are probably those who are not informed, and those who are just going with the flow of what the community thinks about the current state of BTC. You guys need to completely calm down and stop making your own opinionated statements about BTC's future and of its price, now it is obvious that even if a lot of people will think that the price is completely fine, and will improve soon, sadly, on the other hand a lot of people are inventing or making these false accusations, generally speaking, some people in the forum are completely making doubtful thoughts about BTC's progression, some may say that the price will go way down and will continuously go down, until it DIES. 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, and lastly before you reply, be sure to check legitimate websites that are exclusively giving updates on what to know and what to avoid during these kinds of situation, and most likely to check the price and flow as well.

Give some additional statements about this, correct me if I am wrong in some parts, it would be a big help.

This link may help you get updated within the current issues and news revolving around the marketplace and especially BITCOIN:
www.coindesk.com/bitcoin-outlook-sours-as-price-sheds-70-of-recent-rally/

CHEERS!