Bitcoin slips below $8,000 as investors step away from risk - page 3.

TwSeventh

full member

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Quote from: ?? on ??

Bitcoin price does not worry me. I know that one day the price of bitcoin will rise again. My stumbling price for altcoin's.

how did you know that ?
lately we heard a lot and right now we are lacking an investor.
peoples are hesitated to join the train because they think it's totally overpriced right now and waiting for it to go down a little bit longer.
it worries me a lot,because i am afraid peoples were setting their entry too low.
do not you think so ?
(even in some places i saw a lot of peoples were expecting it to go down below $1000)

1Referee

legendary

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Quote from: davis196 on August 04, 2018, 01:15:24 AM

We don't need Lightning Network at the current situation,because the bitcoin transactions are already fast and cheap.LN will work only when the blockchain is stuck and the transactions become expensive and slow.

LN should be there regardless of how congested the network is.

It only requires one bull run to make people aware of the fact that Bitcoin is a horrible mirco currency. That's why I sincerely hope that we won't be seeing any bull run in the coming 12 or so months. I definitely don't want anyone to go through a similar situation as what happened last year. Is it a good thing that new people buy $100 worth of coins and pay $25 in fees? It's a horrible user experience. People won't forget that, believe me.

Another thing is that it will incentivize big blockers even more to choke the network with rubbish transactions, all to promote how cheap BCash is and how it handles all the network traffic effortlessly.

Bull run? No thank you.

BrewMaster

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There is trouble abrewing

Quote from: Theb on August 04, 2018, 06:22:04 AM

Believe it or not the price decrease of Bitcoin is more technical in nature rather than anything related in the news as of lately. In the past week or so we saw how Bitcoin had rallied back up above the 8,000$ level, at first we thought that it is all good but what a lot of cautious traders see is a price rally without any volume backing it up which means that the price increase is not healthy and BTC going back below 8,000$ is an inevitable thing to happen.

no it has nothing to do with anything technical. and it also has nothing to do with "cautious traders". it is all about the hype and it being a fake hype. the rise was about to happen when everyone started making it about ETF then as SEC started to reject them one by one they started losing that hype and selling.

this will also go away and we will be back on track with the rise soon.

XinXan

hero member

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Quote from: Theb on August 04, 2018, 06:22:04 AM

Believe it or not the price decrease of Bitcoin is more technical in nature rather than anything related in the news as of lately. In the past week or so we saw how Bitcoin had rallied back up above the 8,000$ level, at first we thought that it is all good but what a lot of cautious traders see is a price rally without any volume backing it up which means that the price increase is not healthy and BTC going back below 8,000$ is an inevitable thing to happen.

Right now BTC is at 7,428$ its next support level is around at 7,250$ if it breaks BTC might go down to 6,700$ which is the next known support level, now if Bitcoin is going up or down it is not yet clear as RSI is clearly on the oversold zone pointed upwards which might indicate another price rally taking place soon, BTC is yet again showing some mix signals which gives us yet again two outcomes possible to happen.

I wish people would understand this. Not every movement bitcoin does is because of news. Like, even if we had good news and ETF's were approved, bitcoin wouldn't just skyrocket non-stop. There has to be a point where it consolidates even if it ends up going higher, RSI lvl's were obviously insane, even though they can stay overextended for a while.

Theb

hero member

Activity: 1680

Merit: 655

Believe it or not the price decrease of Bitcoin is more technical in nature rather than anything related in the news as of lately. In the past week or so we saw how Bitcoin had rallied back up above the 8,000$ level, at first we thought that it is all good but what a lot of cautious traders see is a price rally without any volume backing it up which means that the price increase is not healthy and BTC going back below 8,000$ is an inevitable thing to happen.

Right now BTC is at 7,428$ its next support level is around at 7,250$ if it breaks BTC might go down to 6,700$ which is the next known support level, now if Bitcoin is going up or down it is not yet clear as RSI is clearly on the oversold zone pointed upwards which might indicate another price rally taking place soon, BTC is yet again showing some mix signals which gives us yet again two outcomes possible to happen.

InboundMercury

newbie

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Merit: 0

Bitcoin has seen regular ups and downs before breaking the 8,000$ resistance last week. This fluctuation in price seems like a normal dip before rising again. Such news reports spread misconception among people for sure. Investors who know the market's nature will never fall for such news.

jseverson

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Quote from: nidacoinlove on August 04, 2018, 12:31:34 AM

We had forks in the past which failed then we were expecting the lightning network to bring positive changes to bitcoin to ease the users, which failed as well. Now what are the developers doing to make Bitcoin perform better.

The failed (hard) forks have nothing at all to do with Bitcoin though so their failures have no bearing in the current situation at all.

The Lightning Network has failed? It's still in beta lmao. Working on making it better is what the developers are currently doing to make Bitcoin perform better, among other things. I understand the frustration and the lack of patience, but they're working on very sensitive, very new technology. It may not even be an exaggeration to say that the Lightning Network is the future of Bitcoin, given the amount of hopes and resources already invested in it, so I'd prefer they take their sweet time with it to get it right.

You're right that better utility will drive prices up organically though. I believe that will just be a matter of time at this point.

talkbitcoin

legendary

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All I know is that I know nothing.

i can't make sense of this statement:

Quote

Bitcoin slips below $8,000 as investors step away from risk
....
after a sell-off in shares of technology and internet companies spilled over into other risky assets.

so are you trying to say investors pulled out of bitcoin to go into other riskier investments? or is it saying they pulled out of bitcoin because it is risky?
if it is the first then it makes no sense at all! people are never going to do that. bitcoin is risky enough with a good reward for that risk.
if it is the second then it makes even less sense because at this point the risk is minimal and even if they pulled out of bitcoin because of its risk then price should have fallen a lot more.

LFC_Bitcoin

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#1 VIP Crypto Casino

Notging to be concerned about seeing bitcoin fall below $8,000. I still think we saw the bottom at $5,777 & in the next few months we’ll push towards $10,000 again. Next bull run will start in 2019-2020 so if you’re looking to buy then now is still a good time.

Cheap coins.

Pursuer

legendary

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Where is my ring of blades...

Quote from: davis196 on August 04, 2018, 01:15:24 AM

We don't need Lightning Network at the current situation,because the bitcoin transactions are already fast and cheap.LN will work only when the blockchain is stuck and the transactions become expensive and slow.

quite the opposite.
a second layer is only working if the first (underlying) layer is working fine. Lightning Network needs bitcoin to work fine meaning to have reasonable on-chain fees and little to no backlog. otherwise if there is a huge backlog like during the 2017 spam attack and fees are huge then you can not use LN either.

still nidacoinlove is talking nonsense though. nothing has failed! he seems to be caught up into some altcoin bag holding scenario.

davis196

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Quote from: nidacoinlove on August 04, 2018, 12:31:34 AM

Quote from: rabia_laskor on August 04, 2018, 12:00:09 AM

The recent rejects from the ETF could be the major reason of the investors to pull out and has caused the price to fall. But the users should remain calm and should be optimistic because the price will rise.

I think the reasons for the investors to to pull their hands out could be some other.
Lets not talk about the price, we should better talk about the technology to get a good picture of the bitcoin performance. Technologically it seems like bitcoin isn't working proper for the purpose it was introduced.
We had forks in the past which failed then we were expecting the lightning network to bring positive changes to bitcoin to ease the users, which failed as well. Now what are the developers doing to make Bitcoin perform better.
In my opinion until the technological issues are not resolved Bitcoin price may not progress or even if it's price go high it will not be capable to maintain that level of price and growth.
There are some other reasons as well that affect the prices but pressure from those could be reduced if Bitcoin get of technological crises.
We should demand for a better technology and not for the price, price will be automatically increase when we will be offered efficient transaction system with low fees.

We don't need Lightning Network at the current situation,because the bitcoin transactions are already fast and cheap.LN will work only when the blockchain is stuck and the transactions become expensive and slow.
"forks in the past which failed"WTF?Are you a bitcoin cash supporter?Off course they failed,they were not better than bitcoin core and their only purpose was pump&dump.

nidacoinlove

sr. member

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Quote from: rabia_laskor on August 04, 2018, 12:00:09 AM

The recent rejects from the ETF could be the major reason of the investors to pull out and has caused the price to fall. But the users should remain calm and should be optimistic because the price will rise.

I think the reasons for the investors to to pull their hands out could be some other.
Lets not talk about the price, we should better talk about the technology to get a good picture of the bitcoin performance. Technologically it seems like bitcoin isn't working proper for the purpose it was introduced.
We had forks in the past which failed then we were expecting the lightning network to bring positive changes to bitcoin to ease the users, which failed as well. Now what are the developers doing to make Bitcoin perform better.
In my opinion until the technological issues are not resolved Bitcoin price may not progress or even if it's price go high it will not be capable to maintain that level of price and growth.
There are some other reasons as well that affect the prices but pressure from those could be reduced if Bitcoin get of technological crises.
We should demand for a better technology and not for the price, price will be automatically increase when we will be offered efficient transaction system with low fees.

rabia_laskor

newbie

Activity: 168

Merit: 0

The recent rejects from the ETF could be the major reason of the investors to pull out and has caused the price to fall. But the users should remain calm and should be optimistic because the price will rise.

Adsily

newbie

Activity: 56

Merit: 0

Bitcoin briefly fell below $8,000 on Monday as investors scaled back their exposure to cryptocurrenices, after a sell-off in shares of technology and internet companies spilled over into other risky assets.

Full article here https://tech-trending.com/bitcoin-slips-below-8000-as-investors-step-away-from-risk/

Topic: Bitcoin slips below $8,000 as investors step away from risk - page 3. (Read 569 times)