Topic: Guys calm down and relax. Its going to be fine. - page 2. (Read 1418 times)

not necessarily. the price was trading above their break-even price all year, so they weren't feeling any pressure to cut their losses and sell. it wasn't even four weeks ago that the price crashed below the $6k area. there's probably a lot of holders sitting on losses now who are waiting for bounces to sell into. if the price continues grinding down, they'll be in more and more pain from the losses, so they could help to form a capitulation selloff.

There needs to be a significant show of strength by bulls, visible on the long term charts and accompanied by strong volume. That usually happens off a capitulation wick, but it doesn't need to. I'll continue to expect one until bulls make a move though. The current price action shows a lot of weakness. I think it's likely to at least retest the lows or hit $3K.


There can't only be buyers, otherwise there will be no trades. If price runs higher than the spot market, people will definitely use it to sell. Arbitrage should keep the markets pegged.

I am going to go out on a limb and make a call I think the bottom is in. $3k is the bottom. There doesnt have to be a capitulation wick down to x dollars to make it a proper bottom.

 Like I said before I don't think all this selling was due to fiat redemptions.  I still believe the sole purpose was whales buying back their coins cheap to resell to institutions for bakkt. correct me if I am wrong but when bakkt opens the only people that are going to be using it at first are buyers. no institution is waiting fo bakkt to open to dump their coins right?

Here is why I really think we are at the bottom.

 At a $3k price right now all there is left for the most part are hardcore hodlers and those waiting on the sidelines to buy back in. Last year the hysteria really didnt start until the price went through $5k the second time. The first time we crashed back to $3500 which was a huge head fake which probably put off many retail investors. So they probably were waiting to confirm the uptrend before commiting they have sold or are underwater and going down with the ship
I can't see anyone that bought above $5k saying "ok if the price goes to $2500 I am selling" that is silly I am sure those that wanted to sell have long sold and are out for good or are waiting for the bottom.

So what I am getting at is that at $3k all that is left are the real hodlers. Most hodlers are probably underwater because I am sure most long term btc hodlers bought in more as the price was rising and falling over the last 2 years. So why would whales continue to sell and for lack of a better term, turn on their own or eat their own. If it wasn't for hodlers the price probably wouldn't be where it is, went to or where it will go. There really isnt much incentive for whales to keep crashing the price if all you have left are those that believe and are in for the long run. Whales are greedy and they want to ring every single coin out of everyone in this market until all that is left are people underwater bag holding and the die hards who arent going to be selling anytime soon. I think that point is now.

Bitcoin is not really dying but it has been in bearish position for long time and that should give us great concern. It is find it very difficult to recover and that mean it might be in this way for long.  I think it will touch $3000 before it will bance back.  Trading currently is not as profitable as it used to be and I have avoided the market since last month.  If bitcoin is going to recover it might take 2 years for recovery alone.
This is how this market behave.  It do disappoint at the time you need fund.  We just need to be a bit patience and invest with carefulness.  Never trade with the fund that you will need to used.

Actually, if you know the market and how it cycles and know that you are promoting the right thing, it is the best to advise people to invest in a market when it crashed because it is where the price is the cheapest and there is more room for the price to grow.  Would you suggest your friend invest in a market that is overly hyped and while the price is so high?  That is the problem of people who invested in Bitcoin when it was on its ATH and when the hype is the strongest.

This is one problem that when market is down at that time we require money and have to sell in loss . If people hold it for a long time or get their prices they will make money sonnet or later but only thing will require to have a holding capacity which will help to grow your money in long term .

I should have  explained my thoughts a little better. we don't know what was going on at $6k. it bounced off that price a few times during the year. that could have been the price where the whales covered their shorts from $20k down, and all the bounces in between, or it could have been a price point where whales started to borrow coins to short. so when I say there are no buyers, retail buyers have zero effect on the price. whales determine the price just like institutions on wall street. so whatever happened at $6k it was between the whales and probably has nothing to do with the retail public buying or selling. just my 2c.

That's where I disagree. There was obviously significant buying support at $6,000 at one point. There was also obviously significant supply considering the successive lower highs all year. That buy support finally got exhausted and bears won a 9-month long battle.

When long term consolidations finally break, they usually thrust really hard. I think it's because the range is so well-defined that everyone can recognize it. So the market moves in unison once price moves outside of it. Once price was below $5,800 all buyers from 2018 were losing money. That's a lot of downwards pressure, in addition to traders who saw an obvious technical breakdown and sold or shorted it.

Absolutely! Frustration and disappointment are normal response we feel whenever things don't seem to go with what we expect. Price fluctuation is part of market growth and expansion, stay calm inorder to think and decide creatively. For people who are aware of its nature this is no longer surprising. No matter how market seems to rise and fall, our attitude really matters on how we handle such situations. It can be distressing but if we let it affect us negatively then it won't yield a positive result.

Of course I do it's just i'm getting sad a bit because this is the time where I need cash and this happen. I'm all aware that price were going to be fine soon ain't that frustrated like others. If you don't want to get frustrated in this fall, maybe you should take a rest and stop reading negative about btc.

As what had OP said just relax and calm down, yes it is the right time to buy more in Bitcoin while it is very cheap in the market.
All your questions I answered at once, buy now while it is a cheap price in the market and ride the whales want that Bitcoin makes cheap.
Indeed, as of now the best thing to do is HOLD.

How about this scenario regarding the current sell off: what if the whales are selling off on purpose to let us(current hodlers and believers) buy in cheap before they raise the price for the institutions when bakkt launches in january?? almost like here you guys go, last chance to buy cheap before we stick it to wall street???

The market will indeed be fine, but this deep downturn has sparked concern. It's better to stay calm, and if you're too worried, take a break.

Well it crashed from 6000s to 3000s because the BCH war caused panic throughout the industry (for whatever reason). People panic sold like crazy and now since it is lower than a lot of people ever thought it would be again when it looked like 6000 was a very strong stable bottom even more people are panicking and selling. Obviously there are lots of buyers right now (I'm one of them!), but the panic sellers are out in force  and they are spurred on by all the media articles coming out in the wake of the recent crash saying yup Bitcoin is dead for sure. As we get further from that BCH war which caused the drop people will panic less as the price stabilizes (likely in the 3000s) and buyers and sellers will even out more, and people who panic sold will be like oh its stable now I guess I'll buy back in, also reducing the over-abundance of sellers.

I think it will be fine but I see way too many people who only care about the price.    Its not a lottery ticket to win on, the utility for BTC is what really drives its usage and after a long while down the road it keeps a price only because people have a reason to keep it in their pockets overnight.   Limited supply together with growing demand and its global availability is really what makes the price rise, seems we went up too fast and it has to balance.   

In the end the balancing of the price even downwards after going up, that is a positive and yes like the thread title it will be better off for this process of adjustment.

The more I look at this the more I think the price is being pushed down on purpose. This crash from $6000 to $3300 is a sh*t ton of money that just went bye bye. I can't see it being a whale selling on the open market. They are already multi millionaires why would they just not get a fixed price on otc? why kill their golden goose so to say? I just cant see it as a liquidation for fiat. For The amount of coins sold, if someone tried to cash that into fiat there wouldn't be enough money at an exchange to cover that size of a redemption would there?
 I cant imagine this crash is due to no buyers.  If there were no buyers it should have crashed long ago.  And what I mean by that is  just so odd that the price hung around $6000 for so long and then Whamo! the price gets cut in half. I can understand over the life of the bear market buyers dry up, but this sell off is like they turned the faucet completely off. So I am throwing that reason out. Futures? I would say no just because it is settled in fiat and even if it was possible you would also need bitcoin, which means going against the whales and they have too many. So what I am getting at is it is hard to believe that who ever is  selling all these coins on the open market isn't doing it for the fiat. I think it is being done to accumulate coins quickly. And everything is pointing towards bakkt.
think about this for a second. when most of you buy bitcoin,including myself, doesnt it always seem like the price goes down right after you buy? I have thought about it and I actually believe that is the bots automatically trading against you and by selling. just say this is actually true. bakkt is filling their bags right now buying millions and millons worth of bitcoin to settle their futures, wouldn't the price crash on them too??

No one should be investing money that they need soon anyways - no matter what it is crypto, stocks, or whatever. Basic rule of investing. You keep in savings money you need soon, you invest money you don't need. Anyone who needs money they put into crypto last year did something terribly wrong in the first place. I don't think that is why most people panic sell. Most people panic sell because this is the first crash they've been through and they get scared and see all these articles that say bitcoin is dead and it'll never go back up, also written by people who only starting paying attention on the last bull cycle, so they think  if they hold their crypto they will lose all their money, when in reality there is a 99% chance if they hold they will make lots of money. Emotions make it hard to make money, you want to buy at high prices and sell at low prices out of FOMO and Fear, when smart investors do the exact opposite and are accumulating now to sell at 20 times this price or higher in a few years.

The bloody market is really and it is very difficult to keep on encouraging people to invest.  I believe that bitcoin will still be going down and though the long term investors are saying now is the right time to buy but it is very difficult now we the micro investors to buy now as any little downward price movement do affects us.

The problem is that there are those who can't afford to wait this out. This bear season has bled a lot of people dry, so much that they'd rather not have anything to do with crypto anymore. If you can afford to hold on for months then you have your chance. If not, well, charge it to experience.