Topic: Down below $9k! Buy the dip now? - page 2. (Read 901 times)

The tail doesnt wag the dog, alt coins rely on BTC far more then the other way round.    In turn BTC is quite effected at least shorter term sentiment and cycle by moves in Dollar markets imo.
 


We need to move past 8500 to really go anywhere, the price is pushing on a weekly average but so far its not going very far at all.

I was watching the price all week (something I always do), it happens that yesterday I read this news:

McAfee: Bitcoin’s Scarcity Will Trigger Its Price to Hit $1M in 2020

when the price reached $13000 some people said that by the end of the year the price would be over $30,000 (I don't remember their names) But here we are:



We are nearing the end of the year and price is $8000 and at the risk of seeing the price of $6000. I think one of the biggest problems in the world crypto is the hype and dreaming very high. we saw the price reach $19000 and fall to $3000; we saw the price reach $13000 and fall to $8000... what I wonder is:

Is it really that a lot of fresh money is entering the market that justifies large price increases? or the big price increases are because people who have altcoins sell to buy bitcoin?

Right now Bitcoin is $ 8200 while I only expect a month to make a profit, is this the right time to buy bitcoin or wait under $ 8,000.

Because for the long term my patience is not ready because there are always other needs.

This current opportunity will really be an opportunity that will be blown away if we really don't take the opportunity to quickly rush and buy It now, anytime we see a dip like this, I think it is a chance that is just being given to accumulate more before the price recovers again.

I really don't think I see the price dipping down to $7k again because from what I can study from the little analysis that I have made, I think that we are already heading for full recovery as we might continue to grow henceforth as against the value declining any further, I think that the last decline for this year is what we have presently seen right now and as from this month, we may be growing gradually now till we end the year at the $15k that majority of us has predicted.

I would say it is actually the best time to buy bitcoin now. It went lower than $7,800 USD and look how it is now above $8,300 USD! So people that bought bitcoin at the lowest dip actually already made some decent profit. The price is still low right now and now is your chance to put more money into bitcoin and make some sweet profit in the long run. Just keep holding it until you reach your desire goal!

There is good resistance at the price $8000, once it gets broken surely we'll experience the price touch $7000. As the price has moved above $8200 over the past two days we can expect the growth to happen in a gradual manner than falling back over the falling weeks. If the plan is to invest and do trading, it is the right time. If the plan is for long term holding then just have patience there is more chance fall in the price below $8000.

Looks like an upside failure now. Weak double topping action in the $8,500s. I've reworked my EW count accordingly. I think that was the top of a Wave 4. Meaning one more wave down into the $7,000s is coming.

David is thinking the same. He's really bullish for a major reversal this week though.

I'd wait below 8.000$ if I wanted to buy
but so far I'm HODLing and just watching the situation unfold
it is not the first time we see such a massive drop in price , nothing new
so for me it is very simple , see the price low enough to buy - buy , other than that HODL and wait
has been successful so far , also I don't think the panick-lke predictions of 4-5-6k$ are going to happen
BAKKT launch was a disappointment to many , but the price won't be butchered for too long and the 10.000$ mark is going to be re-revisited this year

Yeah, with coming up of the October, the price jumped to 8200$ from 7800$ in two days. I believe the should be experiencing a pump in this month only making the price over 10K$ so I think still it'd be great to get it below 9k$ in order to secure a good amount of profit. The more you delay, the more you'll lose as I speculate the price will get higher only, this month...

I would have to agree with you. I think that this is one of the best times to purchase bitcoin. The 30th of September would have been a better day to purchase, when the price dropped to around $7800, but even at the current price of $8200, it is still a worthwhile purchase.

Would have to disagree with you. Bitcoin is slowly gaining traction currently and will continue to do so. With this additional demand will come an increase in price and will benefit all of those who hold bitcoin. As much as it would be great to have purchased at 3-4k, it is still definitely viable to buy and hold at the current price range.

The market is experiencing a huge correction at the moment.
Bakkt hype and the Facebook libra effect is starting to fade away.
I don't think now is the right time to buy bitcoin or any other cryptocurrency.
There is too much panic in the market still, it better to wait for a week or two to see the outcome.

That will be easy if you can afford to hold on for a long time. We don't know if the price will go back to the sub 5k levels but there's always the possibility that it will. If you're willing to ride that kind of fluctuation and wait for another recovery stage, then buying at 8k won't be such a bad idea at all. Again it's all about how much and how long you're willing to risk.

I spotted this epic struggle going on earlier, storm in a teacup perhaps as its only short term but weakness is still apparent as I just checked and it appears to have broken downwards out of this range not up.


 Obviously a bit of a squeeze between the two averages for the market to maybe take a direction for its bet going into Asia trading hours.     Add in the 200 day average consideration and more work is needed for momentum upwards to gain strength.
   Confirmation down would be close below 8200 on 4hr bar I think

the thing about buying dips is that those people who always buy the dips are already buying the dip and enjoying the discount that the market offered them at this time and out of nowhere! and those who never are not going to change their mind with a topic like this. these people always panic buy later one when the price already went up. like the $3k range, when they were saying they should wait for $1k to buy and $3k-$4k is way too high! then they panic bought at $6k instead!!!

We should, that's like if... we don't do that when investing, we don't look at the past and hope we could have bought at that moment. F
Face the reality now, if we see some value then we buy.

I think we have some good movement today, and this might tell that we its right to really buy at dip at $9K and below.
BTC is now up 5.79% and the altcoins market are doing well, if this will continue, we might see it back to $10,000 in less than a week.

I would not buy this dip honestly you should have been buying in the 3-4k range
now we are in uneasy territory and you are just taking a risk buying bitcoin right now

If you really think the whole system is rigged and theres just a price set in a backroom by some smoking men in trenchcoats, you should probably short the whole thing because its gone way too far already if its not reflecting actual demand from users around the world.   If its a false setup then it'll fall far more then this and for good reasons.
    A bigger move down is not especially unexpected, its been on the cards for a while and its just a move that triggered recently.   Some thought it'd go up, its not and they bailed their longs and that in addition to others already negative allowed the price to move downwards outside of its prior range.    Thats just a normal thing, maybe its tied to Bakkt news or expectations.   People are usually just far too unrealistic about immediate effects, Bakkt could be amazing but we might not know for a year or more after this.   People expect it to be a rocket ship blasting off from day one which is silly but thats the human imagination for you, BTC is super speculative and in such markets 20% is quite reasonable.
   Examine commodity markets and they can move 10% on a day and that would be something hundreds of years old, well considered and far larger and mature then BTC but commodities are always volatile and BTC fits right into that imo.  

It is not a simple market correction - it is clearly well thought price manipulation from some whales. Drops like 20% aren't natural and are caused by highly coordinated market orders designed to trigger stop losses and cause more damage to price which will allow whales to accumulate even more...

Come on guys, it's the simple market correction trying to stabilize the bitcoin price. Once the correction time is over the bitcoin price will grow even higher, bigger and better as well.

I have subscribed and following this guy channel "dvir oren" for months, one thing for sure on his opinion; "Impossible to know for sure, it's more likely than not".
At this point, bitcoin becomes more volatile and we should wait for the bottom which probably at $6K as the market seems so bearish right now and the bounces are weak, manipulated by the whales that trade on Bakkt. So, if you want to make profits, sell now and wait for the price drop to the bottom then buy the dip in order to increase your portfolio.