Topic: Down below $9k! Buy the dip now? (Read 927 times)

in my opinion the current situation is indeed time to buy, but by using a good strategy,
for example buying 20% of the total funds you have is already very wise, because if bitcoin falls again it will go to the next support

Maybe for now, I don't think bitcoin prices will drop below 7k because for the past few days or in this quarter the temporary recovery has not even been able to touch 9k and only struggling in the 8k range and then fluctuations continue to occur very strongly. So thus, buying now or if you still believe prices will drop lower I think it is a freedom to determine the time to buy and be aware of the risks that exist.

If you see the one week chart, you will not able to confirm that this is the buy indicator. Most of the people feel that marketplace value might be goes at anytime.
When there is real growth you will find the market value for all the cryptocurrencies may go high
But seeing the current market trend we can assure for it.

waiting is not a bad choice, it's just that current information about the development of bitcoin is quite good. I think those who expect a reduction in the price of bitcoin to $ 5,000 are those who are waiting for FUD effect.

I see this moment as an opportunity. like yesterday, the price of bitcoin once reached $ 8,700. if some investors buy bitcoin at a price below that, of course they already made a profit yesterday. I think the same thing will happen as long as the price of bitcoin is below $ 9000. when the price of bitcoin reaches above that, I think people will regret the choice to wait.

At this moment the current price of bitcoin is around 8300$ and it still below 9000$. It depends to you if you going the buy the dip right now but for me, if you will going to buy a lot why not try wait more just like others who expecting that the price will go down to 5000$. Bitcoin is very volatile that's do not expect if the price will rapidly go down or will rapidly go up.

If i see Bitcoin Chart today with price $8,210
it will still bearish to $7,000 maybe.
So wait it until really dip.

Hard to find why people want buy it in the future,
slow transaction, also some miners going to close operation. So hard the price will bullish in the future.

Its not yet a dip buying opportunity , we open the working week with some weakness.    See how Asia fairs but we are at last deviating from the weekly average but its downwards pressure to start.   We are above the previous low so far but I would not guess on the dip as a buy just yet



Someone pointed out the 50 day and 200 day averages will converge but taking that a possible I think we have more time to go.   We went sideways for a while and only 18 days ago took a new direction down, that leaves us a few more weeks possibly until 50 day can move enough to match 200 day and maybe something occurs in a new pattern.   I think thats a rough time scale to look over moves and watch for price to process the previous sell action.

Problem is how do you know if the price that you see now is the so called “dip”? You may use TA to predict it but if another issue surface like fake news that affects the price of Bitcoin then, the dip that you are looking at may not be the dip after all. One thing I know of is that price of BTC is just temporary, it will go up but for now just enjoy the price of Bitcoin and buy if you have idle funds.

Man, you remember those people that were waiting for bitcoin to plunge back to $3k when it rose to $5k/$6k? They are still main confused state right now as they have missed the opportunity to buy when they had the chance to do so because they were waiting for the price of bitcoin to still dip further.

When it comes to bitcoin investment, provided that we are yet to get to the peak of it, there is no time that is not right to buy bitcoin, if you ask him to wait a little bit further now expecting a dip to come more than what it is now, bitcoin may make a turn that will make such person miss the opportunity to buy at this $8k now. If I was to advise, honestly, I would tell the investor to just buy any amount that he feels he is capable of buying now first, then wait if it will plunge further to buy more. That is how you play the game in a volatile market.

Everyone has their own speculation about bitcoin price. Price ranging $8k and in just an hour it possibly may declined down below on 8k. There is always a possibility about btc to increase at least by year end if only a good more adoption can happen. At this point, we can wait a little to buy when reaches to our set price, so it is also depends on our goal to invest in bitcoin.

prices now around 8130 , strong dump ( at least 10 percent) can put up prices  to 7200
your prediction for price bitcoin (7500 per btc) can be reduced a little
i think the best price for buying lot it's under 7000 usd per btc However, this is a personal speculation
the investor is free to buy or sell at any time or any price,  because no one knows if prices will fall below 5,000 even

As I observe, the bitcoin will go down even further and I think it is not about time to buy more bitcoin, try to wait for another week or another month, there is no potential of bitcoin to increase as of now I think but of course I want bitcoin to increase for me to get profited but maybe December is the best month for bitcoin to increase. 😁

From charting point of view until I see an exhaustion bearish candle of the daily time frame of BTC/USD then I begin to watch how price react at the resistance zone of $7.5K then all will be set for a bullish runs else I will keep watching price action all these from my own technical analysis. it is not about buying dip now as the OP insinuated there should be kind of exhaustion of the bearish candle and some bullish signals indicated by some Japanese candlestick patterns like pin bar, bullish engulfing bar etc I will buy when those signals occurs.

think we are in this weird period when the buyers are waiting for the price to fall to start buying
the problem is that the volumes are low and there are no big buyers , the price is sitting in the 8.000$ area and shows no signs of going back to 10.000$ at the moment
the end of the year is usually positive for crypto , but this year it can be the opposite , would not surprise me to see a further fall
yet I'm hoping fr the 9.000-10.000$ price range come December

I hope that the price is not down below than $8k because now, the price is stable at above $8k. So we could expect to see the price will go to $8500 in this month. But if the price is difficult to increase higher, then I hope it will stay at a price now, and that will give a chance for the altcoin to increase. Once the altcoin has the opportunity to grow, it will help the altcoin to get a bull run, and that means, we can make a bigger profit from altcoin in bitcoin amount.

Of course that people will panic, they always do, especialy users with not enough experiences. They don't understand that price fall is just a good opportunity.
On the other hand you can't expect that price will fall deep like 6k or even lower to buy and then to recover the very next day so that you can make quick huge profit. Things are not working that way, it's a long term process.

Everytime the price would go down significantly, we can see some panic, but you can also expect that there are people who like it so they can accumulate a good value at that kind of situation. This is just a game between the smart people and the investors who came in here not fully understanding what this market is and how this market behave, and of course, the smart people will always win.

This push to $8,500 lacked the momentum, volume, panic buying, etc. of a significant bottom. It's looking like a dead cat bounce to me. My bet is we're headed back down to the $7,000s, maybe even further if panic sets in.

I'm readying my bids.

If the price is still below $8500, it's a good price to buy more bitcoin, but if the price is above $8500, then you might hold for a while and wait for another downtime. But if you think that after $8500, the price will increase higher, then you can buy an instant at that price. But still, I don't recommend you to buy an instant because we should be careful if the price is down in the next few hours. Yes, people who bought bitcoin at less than $8k now are making a good profit, especially if they sell now and wait for another downtime.

Judging how the market was doing lately, I think its good to accumulate Bitcoin when the price hits below $8k, and then execute a short trade when the price will back up to above $8.2k. What do you think?
Holding on a long term basis is also good, but its better to take advantage of the market current movement as well.

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.

During a few hours we were able to see a price below 8000 but personally I do not think that this is the right moment to buy bitcoin, I say this because to me this is only the beginning we are probably going to need a few months to see it but the price is probably going to go a lot lower, the best way to know if we reach the bottom is to see how the rest of the investors are behaving, if they are still positive about a possible recovery by bitcoin then it is probably too soon to buy.

Price rose off some support and is roughly positive on a week basis so its a reasonable rise thats occurred overnight as I thought it might.   Failure to move down has been quite bullish .



Its only a short term move and the top prices now are the 200 day average which is significant discouragement, check how it reacts to this for a bigger recovery.

I already forgot when is the time I stop following experts or popular crypto speaker regarding the price of bitcoin, since I don't plan to trade my BTC yet, I will just wait and buy some more in times I read events that might affect the price or if I have extra amount to buy it at some dip even just a small dip in that week to just add some BTC in my holdings. It will depend on our profile and ability to speculate the prices and read graphs so we can still be profitable if we tend to buy and sell some.

I've also noticed lots of calls for $6,000 and lower:
https://www.youtube.com/watch?v=BGTEGN3Gt7w
https://bitcoinist.com/bitcoin-btc-price-eyeing-drop-below-usd-6000/
https://www.newsbtc.com/2019/09/28/bitcoin-bottom-6000-surge-all-time-high-halving/

Stay on your toes though. When everyone starts betting on the same thing, it usually doesn't happen. In late 2018, most people were expecting $2,000s or $1,000s. They never came.

I've bought a bit more on this dip in the upper $7ks mostly because I noticed that the weekly candle neatly bounced off the 50 Weekly SMA, and we've since stopped making lower lows on the 4H, but rather higher lows. I'm not completely betting that this is the bottom, because there's definitely potential that we could continue downwards deeper into the $7ks, but I'll be waiting for my bids to be filled if that does happen.

You know what kind of people make assumptions?

If you have had credible leads for your assumptions then you're in the green, for sure. But what it seems to me is that you are basing your assumptions on hunches that have no real-world basis and hence every time you guess something, the opposite happens.

Try to learn how to read market movements, try making dry predictions and then put some of your own money into those predictions. By doing that, you would be cutting through the useless shit that your own mind comes up with.

The crypto market movements are very confusing right now. Yesterday I thought the price can go lower than 7500 USD, but the Bitcoin price became 8200 USD. Then I assumed it can go to 9K to 10K USD very suddenly, but the price is slightly decreasing today. Though Bitcoin at 8100 USD is very good to buy, but who knows, it can go down again! Our's expectation about Bakkt release come out wrong!

Doesn't seem right to me. Can you share the source of this chart? I'd like to take a look. Very frequently people draw a fib pattern wrongly and then other people go on to quote it without realizing that it was incorrectly traced.

According to Fibonacci pattern, the recent retracement to 0.786 and then a jump back to $8k indicates that the market has enough volume as of now to sustain the price above $8k. But we need to wait at least for a week to check whether the bears have been exhausted or not. There might be another wave of correction in a few days. Price might retrace to 0.618 level too. There is a decent probability to that.

look at his username, he is the disciple of the infamous kwukduck who has always been talking about bitcoin dropping each time we have a tiny drop let alone a big one like this. it has nothing to do with losing hope but him thinking if he spams bitcointalk he can fill his short positions and make profit by spreading FUD.

Honestly, I'm happy about it, I was waiting for a good buy day and this was it. I was super close to pulling the trigger at $7,800 but I second guessed myself and ended up buying at the first rebound when it was $8,400, its now back down a bit but I don't even care, I was ready to buy at anything below $10,000, and under $9,000 I really feel like I won a Lamborghini!
Tomorrow, we will see $10,000 again, We have seen this many times, for those who expect $3000 or $4000 neither in this life nor in the other, BTC does not go down more than $7,000 more ever in life.

If you want to buy the dip, you should at least do some basic analysis and buy it when there is traders exhaustion. Basically if you remember Nov 2018, each leg down had a huge crash but the ones that happened in first week of Dec 2018, the breaks weren't as deep as the prior breaks. Basically the bears tried to bring it down but couldn't. Why?  Simply because there was nobody left to sell to bring price lower. So bears realised this and they had to cover their positions before a rally started. And they actually had a long time to cover before the huge surge started.

Right now its no different. I am thinking we will break again and hopefully we lose $100 or so and not $1000. The latter would be bad because we would be sitting on $6400 support and hopefully this holds because it would be the last line of defense for the bulls.

Well the price drops low to below $8,000 so it’s the chance of buying more .

But if we will look at the market movements now there’s a chance of lowering the price sooner.

But if you are confident enough to buy the why not?besides we can be sure that we will grow high again as we have seen this many times before

Right now the price of bitcoin is $ 8.2k when it is right to buy because bitcoin won't touch $ 7k I think traders should buy it now because the profits will reach in front of you.

What dip are you actually expecting? $3k? $5k? If you are a trader you could be lucky to have that $7k range to buyback and reinvest again. It's so seldom to happen and see such dip during this year and if the price of Bitcoin will going to reach $10k range again you might regret it because you never reinvested when you have the chance to do so.

I think dip is not come yet. Because it is too early if we want to make it as dip. Really have big possibility for bitcoin to dumped again. Maybe if bear trend will end, that is the dip. But dip itself really can't decided in what price. Only some people which get luck i think who can really buy at dip of price.

It's still too early to go all in. I've got bids peppered throughout the $6,500 - $8K range, weighted towards the lower end. Maybe 15-20% of my bids have been hit so far.

My thinking is that worst case scenario, if this is a new bear market, it would be typical to at least bounce back to the apex of the triangle in the low $10,000s. Depending where we bottom, that would be a .382 or .5 retrace which isn't asking for much.

We have tried the bull phase so far and we failed, this is kinda the price we have to pay for failing on bull. Now, price was around $3.4k at the first days of the year, then price went as much as $13.8k, which means there was a lot of people who said they are willing to buy bitcoin and hype it up and want to see the price go up.

After that the price fell because many sold, and no matter how much people bought during $10k times the price kept going down every time they take it up, hence eventually price couldn't handle it and people who bought and were bull all said "it's enough" and stopped because after all their efforts they were done chasing bitcoins tail. Now we are in a bear run because all bulls with money are gone, we just have to keep going wherever the bears take us.

Although the downtrend is clearly showing but as you said, things can still change, however, we still need to accept the fact that things are not so optimistic for bitcoin because it has had a period of sustaining prices above $10k for a long time, it was probably exhausted and unlikely to increase, so a weakening period to accumulate was the demand of bitcoin. And the important thing here is that we do not know where the accumulation range of bitcoin will be, which is a problem if we buy it now.

Going by the technicals I think we are again entering into a bearish phase. The daily chart of btc shows a death cross on the EMA. Moreover there was a long descending triangle on the daily chart which is bearish too. Moreover bad news coming all around is another reason. However this can't be completely said a bearish phase because we are still up holding on the weekly chart. So no need to be worried. We can still become bullish with just one wave up.

The 200 day moving average as well as the stock RSI has reached the over sold range. This indicates it to be the downtrend, and further there is more chances for fall in the price reaching low to $7000 if the current barrier gets broken. Considering these factors it is always a good choice to invest on the dips and hold for long term profiting.

Depends on your perspective. Long term, 5+ years you can't go wrong accumulating on dips like these. If you have a short term view then yeah you could easily get rekt as BTC could keep falling. I win by always having a long term view lol.

I agree with the dollar cost average because the overall mood is weak, standing in the way of a truck because you think it has good brakes is not sound logic even if you are correct but the average is justified on a longer term perspective and because its not all done at once it might last over the time required for the market to turn around however long that is.

We arent actually moving substantially even though we did make a new low, its in line with an old trend I drew a while back so its still on course.   Not the course many planned or wanted but a proper drop has the truck falling off the road altogether :p



It terms of buy the dip, if we can hold above the two day average which is the blue line we may see more positive action as speculators are often ready to fill open air in pricing.  Its been positive for a little while on these 1hr bars.   My proper break would be to see it get to 6k but I doubt I see it today.   I actually entered a contest months back with that exact guess because of this whole idea, we lost the uptrend and it leads to upset but markets dont act simply so just plain down now is too simple I guess I wont win that contest  

It looks like it is on a risky point right now, from now on it could either break out and go higher than 10k because it covered the gap back here but at the same time it could even go lower. It kinda depends on the manipulators as well, after all there is really no way we know who caused this and I bet my money on the whales and long/short people, that doesn't mean I know this, I am just guessing but it looks that way to me.

We were doing fine and everything looked alright and price was prime to go up and suddenly it dropped, the price was stuck between two trends of 9k-11k price never reaching 9k nor never reaching 11k just moving in between which meant traders wouldn't make any money that way so they just decided to make bigger moves for themselves to get better profits.

Pretty much. Not a great time to open a margin position. It's a good time for sitting on hands or slowly dollar cost averaging into a long term spot position. I've got spot bids throughout the $7,000s. Not sure if they'll get hit but I figure there's a decent chance with how weak the bulls look.

Right now you just need to look at the weekly candle and see how it closes. I was expecting today to make its way above the $9000 area however it seems to have stalled and kept making lower lows and lower highs, not looking good.

Sure you can make a long trade here with a small R:R but the issue is where do you put your stop? If you put it at $7999, you might get stop hunted and it can reverse. And if you put it at like $7900, there is a good chance so did many other traders and there will be liquidity issues getting filled at those prices and you might get massive slippage like $200-$300 and have your stop hit at $7600 or so.

And its also not worth shorting this area either, since you might be shorting the bottom.

Yup, we need to be careful to decide to trade or not. If you prefer to stay for a while and only look at the market move, then that will be good for you. If you force yourself to keep trade, I hope you can analyze the chart with well so you can find a good time to enter the market and you can get the right price to buy or sell. I hope that many people could hold their bitcoin for a while and not to panic because we are in the downtrend.

And bitcoin down to $3,400 and those who have listened to the people who said to buy the dip were still in profits now. There might be no price floor in your opinion but we've seen the ceiling for many times and it can eventually go up there again.

This is just a matter of time and patience should be applied. Personally, I don't even think that we'll see $5k - $8k this quick and the reality that we headed to $13,000 for this year was already an optimistic run for which we can see those highs again in no time.

This situation is really shaky especially to those who are easily being move by the market trends, you need to add more patience with this current event people who are scared of losing money will easily be trapped by manipulators. This will be another testing grounds for traders who are willing to take the risk, it can't be avoided to see more fall if majority of weak holders will follow this market.

ever since we entered 2018, anything below $10k has been an excellent chance to buy bitcoin. at the beginning of the year we had the ridiculous luck of seeing price as low as $3k before it jumped back up to normal price levels of $10k and above and that luck is being repeated but this time it will be a small size and short time one.
of course if you are a day trader you always want to wait for the bottom but as an investor you should be picking up bitcoin at these prices because discounts like this don't repeat again.

It is an amazing period for people who felt they were too late to get into bitcoin. Right now, price could easily make 20% profits soon, just wait another week or two and even wait a month at max and you will literally still make a ton of money. Right now, price is ripe for everyone to buy, it will not go bad from now on here, sure it could drop more but who cares because we know it will go back to 10k eventually, it could go to 5k if it wants but eventually it will hit 10k once again and than you can make your return you always dreamed of in bitcoin world.

There is nothing in the world right now that could make you 20% profit in a month, I believe the only thing is bitcoin if you believe in it, if enough people believes that than we are the market anyway so it will happen even more quickly.

Maybe this is the second time of the lower price that we will be going to see. The price still going down, although not too fast than before, we need to stay calm. I guess that after this we will see the price will reverse to the higher price and what we were experiencing will get repaid, and we will make a profit again. Make sure you know in what price you want to buy and wait for a while if the price still going down. Maybe that will be your best price to buy bitcoin. Don't go with all in but split your order buy into many parts.

Bear is not here yet for BTC, but for altcoins its stayed for more than a year already.

The dump create panic in the market but I think this is just temporary and we will not anymore witness BTC falling below $4,000 like we've seen last year and early this year. It's too much of a struggle if we will ever see that, last year, Bakkt launch was an anticipated even but now that its finally launch, it seems like the market is moving different from our expectation, I think there's some manipulation going on here.

Whales will move the market in unexpected direction that is what happening right now,so don't get trapped sooner the prices might recover or we are going too deep from $8500.

The bitcoin price bear run has begun, by December 2019 - May 2020 the flagship cryptocurrency is going to slump down to prices below 5k.

Yes, ''buy the dip'' they might say but how deep is the dip and how low can it go before it starts to rise again?

I caught the knife in the $8,200-$8,400 range with a portion of my cash but most of it is still waiting on the sidelines. At worst, I see this going to the mid-$7000s so I want to wait and see how this develops over the next few days.

Based on previous bull cycles (like 2016) we probably won't close below the 20-week MA or spend much time below the 200-day MA. So the bottom may not be in yet but I think this dip will be short lived.

Yeah we just put all of our hope to launched the bakkt service but it is just a give negative side and make bitcoin going down so far. But I have a little confident that the 8k ia the lower price and will make a support for bitcoin. The investor only wait to the price goes lower and they will buy more when it has touched the support. The bakkt intention's is give a confident for the investor so as  they will consider that bitcoin is the safest place to invest.

Bitcoin that was stable was down even worse by 10% so what should we do right now to buy or wait for the right time? everyone speculates that now the point is not safe.

I was expecting the triangle to get tested and most likely break the $9100 area and maybe head into the $8900 area from the stops getting hit but the way it sold off to $8000 is pretty scary.

Since it had a healthy bounce I will keep an open-mind however I think we can be entering bear terrority unless we can close above $9000 on the weekly chart. Because this seems way too similar to what happened when we broke $6000, went to $5500, everybody assumed that was the bear trap and would head higher and instead we got a nasty crash right after.

Nothing, as usual, the bending trend of bitcoin will be either taking it short or stay long. If we buy today it seems to be a good idea but if it will drop more, see to it that we can manage to hold otherwise, you'll just throw your money in the other hands. However, it positively that the price will rise back into $10k once we hit in the 4th quarter. But feel not guaranteed that we could make a huge market hike in this year, better to take any opportunity either it is small or big gains but at least we have some returns than of nothing.

I was able to enter 8300 price and shorted out on 8700.Rinse and repeat yet ive been trying to hedge out these volatility.
Majority are become hesitant to ride up these waves but to realize that these ones are the best times to day trade.
Price is way to tempting for you to jump in which either you can opt in for short and ofcourse for long term.
Bottom has never been known but we can at least presume.

And there is that panic again, come one, it's only over $8K now, soon we will be back at $9K then stable at $10K again.
I'm not sure why we call it a crash when BTC stats at $3K this year, even if we end at $8K this year, it's still something not to complain.

Better start accumulating now, because it will rise again, if it will fall, continue to accumulate, that's a good strategy that will give you a good profit in just a short period of time. Maybe we are set for a good rally in the last quarter that's why we have this dump so we can bounce back hard, that's what came into my mind now, hopefully I'm right.

Here's my strategy.

1. Sell now, buy back at $4800, sell at $5500.
2. Buy back at $2800, sell at $3500.
3. Buy back at $1200, sell at $2100.
4. Forget about this Bitcon.

What do you mean by falling fast?did you checked the market this moment?Bitcoin price climbed up 300$ again so basically this is a good sign of recovery

We knew how volatility moves the market and if you don’t get the right rhythm for sure you will be late in investing lol

I don't think that the bears is talking over. It was reported that there is a hash rate flash crash, but for me this is just FUD or someone from behind is just manipulating the price to push the price down even further as the like time I checked the price is ~$8500. Well, if you have been in this game, we all know that BTFD is a good strategy as we have been complaining that the price is expensive at 5 figures, so take this opportunity to stash more at this maybe the last time that we are going to see the price at $8000. Bakkt or not, don't let this golden circumstances slip away.

I guess 7.xxxK before moon 

Took time to check the charts and I've seen that the lowest for this year was $3,400 and it's still good IMHO. We just made it to $13,000 and we're all confident that it won't go down so we thought that it's already a downtrend now.

If you are long with bitcoin right now, get this time and start buying. It fell to $8,300 although I haven't seen that moment and few hours ago we are from $9,800 so with the price of $8,600 now, it's considered as cheaper price.

I might be lucky because I just bought couple of hours ago for $8,500 and now upon checking it’s 1k higher already,I have just posted earlier about the falling will continue to below 8k as what the thread predicted but now I’m wrong lol

Well I don’t care what made effect the huge dumping today but what I’m concern is the growth now because that’s what bring be instant profit 😂

It's funny how months ago when Bakkt got delayed again nobody was blaming it and we continued upwards. Now when it's already here people are blaming everything on it!

Bakkt was supposed to launch months ago and it did not stop the price from gelling below 4000 dollars. It also did not make it go back up to 10 thousand. Stop blaming bakkt for normal price action.

+/- 10% is normal for bitcoin and you don't need any news for it to happen! Last move like that was in June when we went from 13800 to 10000. Was that also Bakkt?

It had. This drop you are seeing is the effect of Bakkt.

Bakkt is a futures contract, and every derivative product is bearish.

Just seems like the descending triangle everybody was watching earlier broke downwards. As for whether or not to buy now, that's up to your own discretion, though I would advise against buying in all at one price point but rather setting up staggered buys below and/or buy every few days or weeks. OP seems extremely emotional about things right now, and you tend to make your worst decisions while you're emotional. Bakkt's just recently launched, and it's not extremely surprising that there's relatively low volume on the platform at this moment. It'll grow in time.

Everything looked like we are going down yet again.
Hashrate dropped before that. Bakkt had no eefect.
Even low volume in previous days was a strong indicator that big move is going to happen.
Market was a bit boring... so here is the action now so traders can play.

Bakkt is irrevelant here. People react to current price movement by emotions.
They are first to loose money. Nobody knows when to buy, it can fall to $5000 even, or will get back to $10000 very soon. We will see.

Greta Cryberg must be happy that the biggest enviromental disaster bitcoin gets hit.

A better BTC price for a better planet  

I just hope that this is just a bear trap and eventually gonna get back to $10k or else this is a real FUD result. Though it is a great time to buy during the dip because I have a feeling it would rise back up again. But i don't know if it would stay at $10k or stick to the $9k for a week.

We need 90 percent more loss so i dont care... 1000USD is MAYBE the first good  and fundamental price level. Alts already purged partially, now we need to keep things going. Cryptomarket is still too ridiculously overpriced and overhyped considering how low is the real demand for crypto "products".

The crash is real, while i read this news BTC price keep crashing, it's at $8400 now and looks like it will crash more. So, i don't think is the right moment to buy, if things keep like this we will see the price at $7500 in some hours. Wait until btc gets under $8k and then buy big. This is one of those changes to make some nice money! Let's ride the wave.

I don't think it is a good time buy Bitcoin now. It is still falling down fast. I am very curious about the reason behind this fall. This can be the first sign of a bull run I hope. We will wait and observe the changes on the price.

And the bears are taking over!

In this situation right now, what price do you think will be their new support and resistance level?

The Bakkt hype continues!!! Most freaks out there think that Bakkt would skyrocket BTC, but it looks like we're heading south instead.

Volatility is so high right now, and I bet when I wake up later, it might be going even lower.

Do you think it's the right time to buy now? Or should we wait for BTC to dip even further?

I think it's time right now to accumulate more satoshis in my arsenal, as the bloodbath sale begins!!!!