One more bitcoin dump ? - page 2. | Bitcointalksearch.org

dunfida

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Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

Still got shocked with that $700 decrease in a matter of 24 hours? If you've been here on this market then this would really be just like a typical day.
Price movements can either be so minimal or would be on fast paced and this current one isnt that different.We are tanking or at least holding on 7300-7500
prices at the moment but it doesnt mean that we wont even go down further.For now i do see this is the best time to make some short due to price volatilizes.

exstasie

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Quote from: BitHodler on October 24, 2019, 02:41:18 AM

I think that $6k is where the support will kick in.... at some point the bearish sentiment will be countered by the bulls where we hopefully get to bottom out and have that be a reversal point.

I'm ambivalent about $6K.

On one hand it looks like a really attractive target because it was such an important horizontal level in 2018, and because of this gap in the volume profile:

Markets love to fill gaps.

On the other hand, it seems like everyone is aiming for it. Bulls think they can long at $6K, bears think they can close shorts there. Some buyers may anticipate this and prevent us from reaching that level at all. This is typical of a capitulation scenario where buyers are left chasing the market upwards after the final washout. Tagging $6,500 and reversing hard would be a pretty nice "maximum pain" scenario.

Slow death

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Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

If the price has risen from $3000 to $13000, it is clear that it can also fall from $13000 to $3000. The price is determined by people's demand, if people feel that they should buy a lot of bitcoins and buy a lot of bitcoins, then the price will increase a lot. But if few people buy bitcoin then the price will drop a lot. The heart of the matter is why should people buy a lot of bitcoins? In my opinion what is lacking in this market is a consensus of governments, if governments are clear about the regulations and if they allow bitcoin to be used as a means of payment in their countries, then we will see more demand and the price will rise sharply. But what we have today is a great deal of regulatory uncertainty and it scares investors

figmentofmyass

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Quote from: fabiorem on October 24, 2019, 11:46:34 AM

I believe the price is going to something between $5500 and $6800, and then it will recover.

I dont believe $3k is possible. Price stayed at that level for many weeks.

tbh i'm getting scared that we're entering a bear market.......having visions of a $3k retest, and beyond.

this is probably bullish---fear usually hits pretty hard near market bottoms. when everybody expects it to keep going lower, it means that would-be sellers have already sold and supply has been absorbed. that's what creates the epic v-bottoms that are so familiar to bitcoin.

the $6000s (if we get there!) will be defended pretty hard methinks. in the moment though, we'll all be too scared to buy and will expect much lower. Tongue

danherbias07

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No way.
This is just a simple movement of the market. Perhaps traders going nuts on selling their bitcoins because of the flooding FUD that is happening all over the social media.
Or, it could just be the normal fluctuation of bitcoin price which even happened before in just minutes.
I have seen bitcoin moved like $500 differential in just minutes and goes back, this could just be the same case.

hahay

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Quote from: bitbunnny on October 24, 2019, 11:50:03 AM

Quote from: NewRanger on October 24, 2019, 11:00:26 AM

Quote from: topbitcoin on October 24, 2019, 09:56:30 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

I think too early to decide if bitcoin price will back to $3500 because it is still 1 day after dump happen. If me, i usually wait dump for a couple days, or maybe for couple weeks to see it is bear market or not. If still 1 day like this usually i keep remain to calm.

we should not in hurry when take conclusion about market.to reach $3500 we need news that even worst than last moment when bitcoin hit bottom on around $4000.meanwhile at moment we see crytpcurrency supported by many good news.in couple days again till october end we will see the direction from bitcoin price.

I don't know where did people get that value of 3500$ and whx are they always coming back to it. Currently we are having some slight correction and no indicators are showing that price might fall so deep. No room for panic or drama, price will recover but we have to be aware that more corrections will follow.

It's just a concern to get the lowest value if indeed the decline continues to occur, but as is happening now even the coins below are changing rapidly upwards so this is just a normal correction if indeed behind all this there is good news that will pump up the market next month. Concerns are natural when prices fall very swoop but when we can calm down with a bad situation like that might be an opportunity to take advantage if we believe recovery will happen soon.

bitbunnny

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Quote from: NewRanger on October 24, 2019, 11:00:26 AM

Quote from: topbitcoin on October 24, 2019, 09:56:30 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

I think too early to decide if bitcoin price will back to $3500 because it is still 1 day after dump happen. If me, i usually wait dump for a couple days, or maybe for couple weeks to see it is bear market or not. If still 1 day like this usually i keep remain to calm.

we should not in hurry when take conclusion about market.to reach $3500 we need news that even worst than last moment when bitcoin hit bottom on around $4000.meanwhile at moment we see crytpcurrency supported by many good news.in couple days again till october end we will see the direction from bitcoin price.

I don't know where did people get that value of 3500$ and whx are they always coming back to it. Currently we are having some slight correction and no indicators are showing that price might fall so deep. No room for panic or drama, price will recover but we have to be aware that more corrections will follow.

fabiorem

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I believe the price is going to something between $5500 and $6800, and then it will recover.

I dont believe $3k is possible. Price stayed at that level for many weeks.

NewRanger

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Quote from: topbitcoin on October 24, 2019, 09:56:30 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

I think too early to decide if bitcoin price will back to $3500 because it is still 1 day after dump happen. If me, i usually wait dump for a couple days, or maybe for couple weeks to see it is bear market or not. If still 1 day like this usually i keep remain to calm.

we should not in hurry when take conclusion about market.to reach $3500 we need news that even worst than last moment when bitcoin hit bottom on around $4000.meanwhile at moment we see crytpcurrency supported by many good news.in couple days again till october end we will see the direction from bitcoin price.

Pearls Before Swine

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Quote from: Artemis3 on October 23, 2019, 07:23:13 PM

The bottom is uncertain, but i don't think all the whales will be able to return back fast enough, but that sure would make the price spike.

The price seems to be holding tight at around $7450, so I would say as long as there isn't another flurry of selling we should be okay. But that's the problem, none of us knows if whales or anyone else are going to be selling in a panic. There is always that possibility.

I am *still* looking at all this as a good opportunity to buy some bitcoin cheap. The only thing that's changed about bitcoin is its price. It still has all the advantages over fiat that it did a week or a month or a year ago. The way I see it, it's on sale. So if it goes down even further, I'll be buying and holding more of it. How else are you supposed to profit?

hulla

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Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

Like I have said some time ago, some dump in price will happen in the crypto market which there's no analysis or indicator to prove cause it a replicates market trend although the whales might be partaker but the bitcoin price won't dump to the price range you mentioned due to its level of dump resistant.

topbitcoin

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Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

I think too early to decide if bitcoin price will back to $3500 because it is still 1 day after dump happen. If me, i usually wait dump for a couple days, or maybe for couple weeks to see it is bear market or not. If still 1 day like this usually i keep remain to calm.

NewRanger

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Quote from: Ferris419 on October 24, 2019, 08:26:53 AM

Yes, Bitcoin is dumping to enter in another bear market. This time, I think Bitcoin will go to 5K USD! But everyone should stay strong because bear run won't stay much longer. Within February to March of 2020, Bitcoin has a chance to hit even 20K USD. And I hope the crypto market has no panic seller at this moment except some manipulated whales!

yes right, take this bearish movement as best opportunity to buy bitcoin in cheap price.i am also waiting bitcoin price on around 5700.my analisys it could reach in few days or week again.when bakkt trading launched , many institutional investor coming with huge money.i am sure they will not buy bitcoin on high price, in this they will show their power to get best price.many people hope by this institutional investor it could bring bitcoin on highest price again.

NathanJB

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Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

I don't think we will ever get to as low as $3,500 or $4,000 for the rest of 2019. That is very hard to consider. We have been there already in the past year up to this year. For the rest of 2019 and the coming 2020, everyone is looking at the ATH already. There is no reason why people will look back at the deepest bottom when we have have repeatedly been there without breaking the recorded ATH almost 2 years already.

Fredomago

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Quote from: Ridwan Fauzi on October 24, 2019, 07:57:01 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

This situation it should be considered by most user, as you may know bitcoin bakkt has been launched at 23 September ago, and I just thinking that there will be many whales/investor especially institutional investor who will entry to this market.

It will just take a few times and we can see the bitcoin price will increase again. So, if you meet a lose in your investment then you have to consider to sell it. Just hold them and even if you have another capital you can buy bitcoin at this time. Also, don't you forget about halving event? Another factor who can make bitcoin price increase drastically.

The launch of BAKKT gives institutional investors the chance to learn and to ride with this industry, we don't know yet if there's a big whales around that creating this dumped as part of the plan for new big players to take the opportunities to buy those coins from panic sellers who are being shakes by the this current dumped.

Being positive and not to rush anything, observing this market conditions and carefully assess so you can place your position in right time.

Ferris419

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Yes, Bitcoin is dumping to enter in another bear market. This time, I think Bitcoin will go to 5K USD! But everyone should stay strong because bear run won't stay much longer. Within February to March of 2020, Bitcoin has a chance to hit even 20K USD. And I hope the crypto market has no panic seller at this moment except some manipulated whales!

Wysi

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Quote from: cryptoangel on October 24, 2019, 06:38:37 AM

Quote from: gandame on October 24, 2019, 03:23:13 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

Its been natural to us that bitcoin is dropping and old investors like that because they can buy more bitcoin.
But to the newbie maybe they are panicking because they have know idea that bitcoin are going to down and up.

This is the best time for investing the Bitcoin, so still Bitcoin is the perfect shot for long term and if they looking for day trading it is hard to predict how it will make on today and tomorrow. I always suggest to invest BTC on long term and mid term so those are interested it will make good return.

Yes I think we should stop complaining about the fluctuations as we know for a fact that there will be no stability in the crypto world and we still choose it for our interest like trading, long term investment or just to transfer money without any government's knowledge. We should use the situation for our benefit and it might be difficult for new comers but tuner ed users needs to use it as investment phase I know it will not be as easy as I have described but we have chosen bitcoin of we need to accept the fact as well.

Ridwan Fauzi

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Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

This situation it should be considered by most user, as you may know bitcoin bakkt has been launched at 23 September ago, and I just thinking that there will be many whales/investor especially institutional investor who will entry to this market.

It will just take a few times and we can see the bitcoin price will increase again. So, if you meet a lose in your investment then you have to consider to sell it. Just hold them and even if you have another capital you can buy bitcoin at this time. Also, don't you forget about halving event? Another factor who can make bitcoin price increase drastically.

cryptoangel

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Quote from: gandame on October 24, 2019, 03:23:13 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

Its been natural to us that bitcoin is dropping and old investors like that because they can buy more bitcoin.
But to the newbie maybe they are panicking because they have know idea that bitcoin are going to down and up.

This is the best time for investing the Bitcoin, so still Bitcoin is the perfect shot for long term and if they looking for day trading it is hard to predict how it will make on today and tomorrow. I always suggest to invest BTC on long term and mid term so those are interested it will make good return.

Oasisman

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Quote from: CarnagexD on October 24, 2019, 04:06:02 AM

Quote from: Wysi on October 23, 2019, 03:12:26 PM

What do you guys think about today's sudden dump of over $700 ? Is it a sign of further market crisis and bitcoin going back to $3,500 or $4,000 like the month of April or else it's temporary and we will see surge soon as this might have been created to reinvest into it by whales?

We do not know if the sudden falling price of bitcoin is the the sign for another bear market. 7,458$ the current price of bitcoin and it seems it might fall down to 5000$. I know of the members think that whales are also the reason why there is suddenly drop on the price of bitcoin. Lastly, do you think bitcoin will drop 5000$ in the end of this month?

Let's cut out the whale conversation being the main reason behind the ups and downs of the bitcoin price, because thats probably not the case here.
Though, there was no certainty on why Bitcoin plummets to the lowest figure since May. Few of the possible reasons might be the low trading volume and the increased regulatory scrutiny where Zuckerberg and Libra was involved.
Lastly, $5,000 is possible or even worse $4,000, something that weakhands probably been worried of.

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