Topic: Bitcoin points of massive price movement (Read 3629 times)

IMO there is no "point of no return". There is a lot of people waiting at the sidelines to get in, but they don't for a plethora of reasons, mainly a mixture of the uncertainty of the price and not really knowing what Bitcoin is and how does it work. All of those dubious people will eventually make a move and enter the market, which would result in a pump.

We can expect more of the same for a while until few are willing to sell this low ($220'ish).  Whales are waiting for the order books to fill with large sell orders from miners, retailers and the like.  Once they see this, we can expect a bull rally up to 240'ish again (Buying those large sell orders).  This will leave room for consolidation again over the course of a couple of weeks back down to 220'ish again.  We can expect this for months to come until we have big news.

$223.00 is actually an excellent time to buy!  Those who are not buying right now are wishful thinkers in my opinion.

let them dump, there will be buyers buying their cheap coin, and those buyers will consolidate the enw floor, because unless they want to lose money, they can't dump at the same floor

dumping is good, it help building floor, if we rise too fast then you get something like a castle build with paper

You are very correct, Randy.  Most do not have patience.  That is definitely what is needed right now.  One cannot allow emotion to take control in trading bitcoin.  It's best to make good decisions with minimal risk BEFORE moves in price to determine what one would do if the price were to increase a certain amount or decrease a certain amount.  Then act, based on those decisions.  It's also good to keep enough capital in reserve to do even stop loss buys when the price of bitcoin is at its present low.

it's simple. most traders don't have patience. at some point traders will dump because they are tired of looking at the same price for ages. remember that plenty of traders are looking for quick profits. something they are not getting now.

Me either.

For Bitcoin to withstand all the downword presssure, it's a miracle.

Why?

I can't see the selling pressure doing worse than now

it's a matter of time before we see bitcoin below $200 as i don't think current level can hold it for another month. too much pressure.

I personally believe the reason we are staying where we are at the moment is because those who would be bullish are in protect mode.  They know if they buy the market up to higher than 245, the market will only sell it back down in consolidation moves.  We still have a bit too much downward pressure from the miners and retailers.

Those who would be bearish will not sell it down below 220 because they know a lot of players are itching to buy any bitcoin sub 220.  Especially, sub 200.  If it goes below 200 again, it would not stay there very long at all.  220 is definitely our bottom of the bowl [So to speak].

I say 220 is the bottom of the bowl because with bitcoin price this low it makes it easier for smaller players to buy a whole bitcoin and compete against the whales who would want to buy in large quantity.  Way more little fishy's than their are whales.  There is strength in numbers.  The whales had a hard time buying what coin they could the last time it was sub 200 because very little of it was for sell compared to the numbers wanting to buy.  There was just too much competition to buy sub 200 last time and the whales found this out the hard way.  That's why I believe the likelihood of us going sub 200 again is quite unlikely.  But, if we do, it will not stay sub 200 very long at all.  The bottom [With equal resistance from both sides] has been found.

These are my "opinions."  I'm not saying this is the way it absolutely is.

Good day,

David

Price can go both up and down, but i seriously doubt that it will stay where it is, bitcoin seams to be dependent on price oscillations. For now, price not going under 200 is a great success.
Regarding people saying one thing and doing the other; well, many believe that the price will go back up, but due to their financial state cant afford to invest anymore.
cheers

for everyone that is really believing in the rise, this is the best opportunity to buy, but many of those are saying that but they are not actually doing it, there is still that small % of thinking that bitcoin might not rise anymore, and will remain at current price forever

The problem is knowing when that correction will come, and how big will it be. For example it could come say at $400, and you'd still make a lot of money buying in now. That's the fun part of investing, or I should say speculation.

You're welcome, Sir!

I don't mind..  You are welcome to make any corrections to grammatical errors, etc...  I see a few after reading through it again.  I didn't take the time to read through or phrase things better.  Some things were a bit redundant as well.

Have a great weekend!

Thank you!

it could be speculative move down,create small panic,make noise and buy fron scarry people
i think btc will finally move up slowly,slowly

The altcoins tend to follow Bitcoin's price movements. When Bitcoin goes down, all the altcoins go down in price. If Bitcoin goes down to $50 I guess all the alts will drastically fall in price. I doubt any of them will take Bitcoin's place.

@dmwardjr Thx, I needed that.

Yeah I think that if we reach 50$ btc will not be anymore the dominant coin, we will see a massive outflow of money and the few people remaining will look for appealing altcoins and we could see a redistribution of wealth in the cryptocurrencies world. I don't even know if there are altcoins out there that offer as much as Bitcoin, but the thought of this happening is making me consider taking a look. I'm pretty sure that reaching that level could be the beginning of the end though.

One of the most beautiful comments I've seen since while ago.

Well said Mr. David.

If you don't mind, I want to quote this reply and post it in the usd/btc speculation thread.

Thank you.

We have many new players coming to bitcoin all the time in the form of retailers, traders and miners mostly.  Yes, the "miners" portion is probably slowing down a little bit but they are still coming.  I see newbies in the mining threads all the time asking questions about mining.  The new one's who come along pick up the slack of any oldies who may have left bitcoin behind.  Especially, the newbies to trading bitcoin.

We are still very early in the game for bitcoin.  It's a new technology to most; much like the internet and email was to most when it first came out.  These things take time.  So, be patient and let the blockchain work things out.

We have many venture capital groups who have invested a lot of money into the technology of the blockchain.  Many user friendly apps for financial institutions will be coming out soon and will change the way billions in the world live their daily lives.  Many here may give up on bitcoin for lack of patience.  However, I know billions on this earth who have yet to even hear of it who will gladly accept it with open arms and give it the support it needs in great numbers.  There is strength in numbers.

As people in other parts of the world come into the fold of technology with smart phones and the like, we will see a increased enthusiasm for bitcoin - the application.  As other applications are created and used on the blockchain [with a relative ease of use and security] news will go around about the blockchain.  Bitcoin is not the blockchain.  The blockchain is bitcoin.  The blockchain is more than just bitcoin.  The blockchain is MANY things we have yet to see, but will see in time that will change the way we do many things in the future.

So, be patient...  The future is here...  It only needs a little time to play out.  In June of 2007 (eight years ago on June 29) we had the iPhone or the term, "smart phone."  That was only 8 years ago, people. Nobody ever heard the term, "Smart phone" until eight years ago.  Eight years is only a blink of an eye.  The "drama" in the price of bitcoin fluctuation is what it is - "drama."  We haven't had eight years yet with bitcoin.  

Do not fret!  Bitcoin (the app) will have it's day of recompense.  We just need to be patient and wait on the many other things the blockchain can do.  It's all about "the blockchain."  Not bitcoin!  Bitcoin, is only an application on the blockchain.  Be patient and watch how many other apps created using "the blockchain" technology changes the world.  THEN, you will see a change for the better in how the rest of the world values any other applications, such as bitcoin, using the blockchain technology.

All this talk of saying, "If the price goes below this amount, it's over."  I feel the price of bitcoin is directly related to the value of "the blockchain."  If the blockchain does well, then most any application using the blockchain will do well; as long as it's user friendly.  We are making progress in leaps and bounds with "user friendliness" ever since the blockchain and bitcoin first came out.  Give it time folks.  The blockchain and and it's apps [Including Bitcoin] will do wonders for mankind the same way the internet has.  Just give it time.  

Those who give up on it will lose in the end for their lack of patience.  Six years is but a fart in the wind in view of time and how technology changes.  As more time passes, we will see great strides in the blockchain and many user friendly apps using the blockchain technology; including bitcoin.

David