Topic: Bitcoin price is dropping!! What to do?? (Read 2936 times)

Just ride it out

If you are rich man you can hold bTC but this is not like house or car ............... it is some Bits .... when you will see the price is dropping and the target can be $1 you will sell them at even $20 ..............

I don't think investing in ETH now is safer or more profitable than investing in bitcoin now. The early profits have been taken already from ETH, once the launch hype is over I don't think it will stay this exciting.

I don't prefer you to sell now, maybe a good idea is to invest in other coin, for example ETH which is raising good, but investing is always a dangerous thing. Good Luck.

Well you said we must sell now? You want to sell your bitcoin in cheap price? Sell it to me haha
Dont panic guys price will up soon

sell now

funny how people seem to forget the basics of "buy low sell high" when the price is lower than ever.
I'm interested to know how many people here actually bought some bitcoins when it fell below $200. 

Well OP I hope you haven't sold on yesterday's low since we have gone up $30 since then. Let me give you an advice, when this thing crashes it's pretty much to late to go and sell. If you haven't sold on a high, don't sell on a low either. Because, once you sell, it will probably recover quite a bit. Just like it happened last night and today.

Well, a month back it was rising sharply. rises and drops are a part of Bitcoin. never know when it will start rising again but now it's time to buy some coins when the price is cheap

Always HODL.

Just Cry and seeing how your money is in the fire and you loss it ......... maybe another time you will in with more reasons .....

you better hold it, this is just a panic. I believe the next few weeks bitcoin will be back riding

it was always the time to buy and hold as many bitcoin as you can, this price is a good incentive to do so, even more than before, the bottom appear to be in the range of, the same old range 220 or around this value
therefore i see it as a safe price to enter if you didn't in the last drop

but you know that most people here trade with dollar signs in their eyes instead of using their brains, right? that's the reality currently.

Blash! (Buy low and sell high) A wisdom that stands the test of several thousand years

The simplest thing to do would be to have an exchange account and trade for fiat. I do wthis in bit-x, no need to provide documents in order to be able to trade fiat; only for withdrawals.

Now is an excellent time to buy. You won't be able to time the sudden recovery upwards.

Just as the price crashed due to cascading margin calls (people borrowed too much to buy bitcoin, and the bank forced them to liquidate their positions), there are now a ton of short positions that the traders will be forced to cover on the upswing - which will cause the price to rocket upwards suddenly.

If one website having some "technical" issues can cause the price to drop over $30 in 24 hours thats pretty damn scary lol. However I guess it is possible!

So, you're saying Bitfinex had a bug that forced the price down? Is it fixed now, or will we see BTC go under the $100 barrier?

Currently we are pricing in all uncertainty, that sorrounds the market.

PSA: Nobody knows where this is heading for.

we are just in the beginning of the BITCOIN world and how can you expect stability from a just born currency when compared to 100 + years old fiat's
BUT donworry it wont collapse .

Unfortunately by FAR the biggest factor in the value of a currency is its network effects, and fiat far outperforms bitcoin in that aspect. We can bet that one day bitcoin will take a significant share of the pie, or even possibly catch up and surpass fiat. But really all the other factors matter very little compared to the biggest problem: how many people will accept and transact with it.

why not just take a step back and look at what's really going on.

I see major causes for price drop:

1. Bitfinex crash
2. Bitcoin XT fork rumors





On the other side of the coin we have trusty fiat

see "nails in coffin" here on youtube:

https://www.youtube.com/watch?v=G5rJyntrmfI



look at that logic then ask yourself, do I buy or sell?

doesn't it seem like someone or a group of people is trying to support bitcoin at around 210-230? Everytime bitcoin drops (this year), it bounces back up to the 220 range pretty quickly...

Exactly.

OP did anyone promised you that the price will go up when you bought it? It was an investment on your part and you must have had some confidence in it when you bought them and same way now it's up to you, if you're confident that bitcoin will bring good return in future (which I think it will but that's me) then keep it, if you're scared that it won't then sell it. It's your decision, we cannot tell you what will happen in future.


What if it reaches $300 tomorrow? than you'd have missed your window to make a profit. You can't predict the Market, you only have to do your research and based on that you have to take calculative decisions. If you want my personal advice, it is a good time to buy.

The people telling all these newbies to sell is just greedy. C'mon man, all of you know this will blow over and these guys
would have lost a lot of money. We cannot give sound financial advice here, because nobody has a crystal ball. You can only base your speculative advice on the facts you have in front of you :

~ The Bitcoin price is known for volatility
~ We will have a halving next year, and it will push the price upwards due to a increased rarity factor.
~ The Core vs XT thing will soon be sorted out.
~ The spark for the decline was due to bugs on a exchange
~ The whole economic world is in turmoil at the moment, because China is doing bad.
~ US interest rates are causing doubts in the global financial markets

We need to stay calm, and hold on what you have and buy more if you can. Look at the bigger picture, before you panic.

Hi thanks for all the response

but how low should i wait to buy more?

What if bitcoin drops till $50 usd for 1 btc?

I think it's better we keep bitcoin we have until the price goes up again 

It could. It might be wealthy people moving everything into actual goods. Bad signs in every market I know of. Personal I'm watching price of gold real close. If actual gold starts to rise quickly in the next few days I'm going to be scared as s%#*. If I had money I would invest in Bitcoin or stock market because if it keeps going down its a sign of bigger things to come.

i was thinking the same thing too. litecoin was always the second choice and whenever bitcoin market is bad a lot of traders go to the litecoin market instead.
besides it has a block halving coming up which can change everything,

I think all the markets are in a downtrend. This is good, for say oil, which is around $40 a barrel now, but bad for the investors of oil. Other commodities, such as gold and Platinum aren't doing as well either.

My theory is that the Yuan decreasing in value started as a ripple in China and ended up a tsunami in other countries' exchanges. The falling prices in stocks and commodities have attracted BTC whales to dump for more liquid cash to pump into the stock market, or in the alternative, buy back BTC at a lower rate. If some one dumps a thousand BTC at $150 and gobbles them back up for $100, they have made a $50,000 profit at a time when people think there is no money in bitcoin. Yes it is risky as all hell, but a whale can absorb the loss and still feed their family. Some of us little guys like me, who owns about 7 BTC absorb a far greater percentage, makes me wish I had the cash back at around $250 a week ago. I have been putting a 1/3 of my paycheck into bitcoins every month, but I always seem to take about 1/2 of that back out to pay bills at the end of the month. Am I losing money? most Likely, but as long as I can cover my bills, I accept the risks associated with bitcoins. I still have hope that one day the level will rise high enough where I would be on the + side of things. Realistically however, I'm not going to be a millionaire, but it would be nice to cash out $50,000 ahead for a down payment on a house or a nice car. I more so feel like I'm a part of history and will have a cool story to tell my kids or grand kids, like how our great grand parents talked about electricity.

TLDR: Invest in what you can afford/The whales are going to profit no matter what/ The little guy is screwed right now/ Set your expectations lower, you wont be a millionaire / Being a part of BTC history is worth all the hassle

I agree with this statement.  Just take a loss if you are so worried.

If you are very worried and don't know what to do, then my advice is to sell your bitcoins and take a loss. Then invest in something that doesn't cause you to worry so much.

It's not free electricity per say, but 80% of the bill is covered.

This shit is going below 100USD within a month, I'd get out now, right now if you can and wait till this bloatcoin Gaven-Coin Shit-coin xt-altcoin hard fork blows over.

Your best bet is to get out and sell unless you have free electricity

I'm kind of in the same boat.

I have 30 Antminer S4s running and am worried if I should get out now and sell my hardware or keep going.

It was the bitfinex bug that crashed bitcoin yesterday

https://twitter.com/bitfinex
https://www.reddit.com/r/BitcoinMarkets/comments/3i5thz/daily_discussion_monday_august_24_2015/cudrtfc
http://www.coindesk.com/bitcoin-price-slumps-following-bitfinex-outage/

 XT shitcoins will make the network insecure, the smart people with lots of money know this and are getting out now.

Buy some Mintcoins

I am holding bitcoin until it starts to go uptrend again!

Advice: Seek your own professional financial advisor

hold, and wait.

I was also thinking the same thing

could it be crashing because dow jones crashed hard today?

a big lost for buyers and sellers !!!! am I right??

i say - but ALTCOINS. they will raise price and you will get back what you lost
ie MAPC ICO of SLOTH dev or so... https://c-cex.com/?p=mapc-btc

or even LTC that halves in just 2 days and has BIIIIIIG profit chance

Since the pools and commercial interests seem to be favoring XT you might as well dump your coins and invest in Visa stock since XT is just a crypto version of Visa with blacklists and all.

if you really believe bticoin, price drop is a good news for you because you can buy more cheap coins.

Sell.  Are you crazy?  Do you want to sit around all next week just to lose more?  Sell.  Don't be stupid and let all your money disappear.  Sell now and when things get better buy again.

i think until this issue about bitcoin XT solves the market is going to be this way. but if you don't have that much you can still hold your bitcoins. or you can sell them now and buy if the price went lower or started to go up again.

Sell it while you are still in profit and buy again when it is around 180.

I find it's good to put yourself in a position where you don't care if it goes up or down.

make a plan if it goes up to X i will sell some, trying to buy back lower, if it goes down to Y i will buy some to try to sell back higher, mean while you have a long term stach that you're comfortable losing completely and some cash on hand for the day it rains coins and it's obviously oversold to go all in on.

the point is to never be so invested that you would potentially let fear get the best of you and end up selling at the very bottom.

bottoms aren't sunshine and rainbows with a low price that no one seems to be taking advantage of, bottoms are where most poeple sell because things appear to going horribly with no end in sight.

I agree. If there were substantive news of an actual technical flaw or legal acts against bitcoin that might be a reason to sell. But people selling because of a general market panic like we have right now, is the perfect reason to _buy_.

Agree. It is the time to buy more bitcoins. As the value investors mentioned, when ppl are greedy, I am fear! When ppl are fear, I am greedy. But it depends on you, do you have faith in it and patience? If not, I recommend you sell them to USD. Then you can have a good sleep!

Hi, im very worried now with the bitcoin price falling so fast...

Is it too late or should i change it all to USD or other currencies ?


Please help urgently and any advise....