Warning - The price will drop more on Black Friday! DO NOT Panic.

guoyu78

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Quote from: munareal on November 26, 2018, 10:19:54 AM

As an investor and the happenings around Bitcoin. I will think of the worst case scenario so that when it happens I have really prepared my self. This is not the end for it is the beginning of good things to happen soon. It is very possible for Bitcoin to be over $20 000 next year.

Well black friday is over, black weekend is over too, hell cyber monday is done too. Yet there are no volume going back into bitcoin. Apparently the trouble here is that when you cash out your bitcoins for black friday and so forth, you spend your money in cash and that cash doesn't go back to bitcoin or crypto in general as expected.

Which means from now on in all future black fridays, people should cash out to fiat currency before it happens in order to get away from the panic sellers and when it is over and the price is lower you can buy back more crypto in return.

This doesn't seem to be a fluke or a one time thing, it looks like it will happen every year for a long time and it creates a great trading possibility for people who do not buy stuff during black friday. Just cash out to fiat on monday, buy back on next monday.

Burogh

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COVIR.IO

Its true that bitcoin drop on black friday a few weeks ago but the price bouncing again to $4000. Its hard to predict bitcoin price right now because many people panic with market condition. Some peoples said its because Bitcoin cash fork but i hope market will recover again and hopely 2019 is good year for cryptomarket like 2017

Renaldi blackspadeteam

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of course that makes sense, make payments using a lot of bitcoin and the average bitcoin user uses it for payment, but if all traders accept bitcoin from customers and exchange it directly on the exchange then the price of bitcoin will not change.

btc_angela

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Quote from: gamalzour on November 28, 2018, 04:08:22 AM

Quote from: Kakmakr on November 25, 2018, 05:30:41 AM

Well, Black Friday has passed... but we still have Cyber Monday and as you know most of us are "IT Geeks" in the Bitcoin community, so we are more likely to dump some coins on cheap IT gadgets and computer consumables on Monday. Roll Eyes

The latest drop below $4000 will definitely put some brakes on Bitcoin spending. I had a specific item in mind, but even with the Black Friday special, it worked out more than what I could have bought it prior to the price drop in Bitcoin. Angry

Funck you, Roger Ver and CW! Angry

The price has already dropped to $3,778 and there is still some news going round that the price is still likely to drop more to $3000. Well, what do you expect? Bitcoin is volatile, so this is a normal thing, if it’s able to go from just $1000 to the cost of $19,000 then it will also be able to do the same and fall back to a very low price. I don’t even think anyone should still be talking about bull run this year, cause that’s probably not going to be this year.

This got me thinking, we all know that Bitcoin is really volatile but in the last couple of months it seems to be stable and now we have seen what Bitcoin is all about, right now its just a shade above $4k so it looks like we rebounded again but wait, is this another bear trap for all we know or dead cat bounce? Gonna be exciting again and we all hope that at least a good reversal can be seen next month.

gamalzour

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Quote from: Kakmakr on November 25, 2018, 05:30:41 AM

Well, Black Friday has passed... but we still have Cyber Monday and as you know most of us are "IT Geeks" in the Bitcoin community, so we are more likely to dump some coins on cheap IT gadgets and computer consumables on Monday. Roll Eyes

The latest drop below $4000 will definitely put some brakes on Bitcoin spending. I had a specific item in mind, but even with the Black Friday special, it worked out more than what I could have bought it prior to the price drop in Bitcoin. Angry

Funck you, Roger Ver and CW! Angry

The price has already dropped to $3,778 and there is still some news going round that the price is still likely to drop more to $3000. Well, what do you expect? Bitcoin is volatile, so this is a normal thing, if it’s able to go from just $1000 to the cost of $19,000 then it will also be able to do the same and fall back to a very low price. I don’t even think anyone should still be talking about bull run this year, cause that’s probably not going to be this year.

BlueStackz

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Quote from: Kakmakr on November 23, 2018, 02:52:57 AM

Just a little reminder for the Bitcoin price watchers! The price will drop slightly today, because a lot of people will be buying some goods and services with some of their bitcoins. These bitcoins will increase the supply of bitcoins on exchanges and we might see a little drop in the price as a direct result of that.

So DO NOT panic, if this happens today.

We hope that people will be motivated by merchants to buy at a reduced price, if they use bitcoins as the payment option. This will balance out the over supply of bitcoins, when there is a increase in the demand for coins.

So Bitcoin merchants, offer some of those large discounts to people who only use Bitcoin as a payment option and see how the price will increase. Roll Eyes

Hope this makes some sense. Tongue

It makes incredible sense. I did see a little drop in the price today and I didn't really considered the black friday reasons for it. Probably people have been cashing out bitcoin for days now in order to get their orders in for black friday deals. They might even continue to do so until cyber monday is over.

Cyber monday is not something we should forget about neither because people who are into crypto are the same people who are into cyber stuff as well and would take advantage of the cyber monday prices. I think it is genius that you figured this out because even though I knew both things (bitcoin price dropping AND the black friday existing) I never put them together and realized one caused by the other. We will have to wait until next week on tuesday and afterwards to see what will happen and how much it will recover.

UchihaRukawa

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Quote from: Kakmakr on November 23, 2018, 02:52:57 AM

Just a little reminder for the Bitcoin price watchers! The price will drop slightly today, because a lot of people will be buying some goods and services with some of their bitcoins. These bitcoins will increase the supply of bitcoins on exchanges and we might see a little drop in the price as a direct result of that.

So DO NOT panic, if this happens today.

We hope that people will be motivated by merchants to buy at a reduced price, if they use bitcoins as the payment option. This will balance out the over supply of bitcoins, when there is a increase in the demand for coins.

So Bitcoin merchants, offer some of those large discounts to people who only use Bitcoin as a payment option and see how the price will increase. Roll Eyes

Hope this makes some sense. Tongue

I think its gonna be hard to tell and convince people to stay calm when the market is going down, it is only natural for any investor to feel worried when he sees that his holding or investments are going down along with the market, But I also hope that people would be more patient and see this down fall as the time to buy more coins, it could benefit us all here in the cryptocommunity as well as the investors when the time when cryptocurrency goes booming again.

BitHodler

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Quote from: Findingnemo on November 26, 2018, 08:49:18 AM

I hope the prices will recover soon or else the bad reputation will start circulating for the bitcoin which can kills the upcoming investors on it.

Investor are way more likely to enter at current levels than at what we have been hovering around for the last couple of months. The risk below $4000 is much easier to manage and the profit potential is much higher as well.

Anyone not buying into the market at current levels is wasting time. You don't have to invest large amounts yet, but at least buy something. If the price goes up, you don't have to panic buy at higher levels.

I'm a couple of days away from my paycheck to post, and instead of putting 25% of it in my savings account what I usually do, I'll invest it straight into Bitcoin. Fiat doesn't yield anything with a poor 0.05% annual interest rate.

Sarastiche

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BITCOIN IS THE CURRENCY OF THE GLOBE

I feel everyone in the community, need to be well inform in order to guard against panic or restlessness, with adequate knowledge/ current information you can be sure that the present dip, is the final correction, thou no one can give an accurate information when the dip will be over, it is certain it wont last forever, the bull run will commence soon.

dimox

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yes, they buy something because this is bf.
i think, real trader dont sell their bitcoin or altcoin like panic's people. and im sure that they have much stock of money in their bank account.
this is the best part to buy some coin, and wait until it come back green again

munareal

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As an investor and the happenings around Bitcoin. I will think of the worst case scenario so that when it happens I have really prepared my self. This is not the end for it is the beginning of good things to happen soon. It is very possible for Bitcoin to be over $20 000 next year.

owlman

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The fact that the price of Bitcoin and other crypto-currencies has fallen on “Black Friday” is not surprising, and it is hard to surprise many people with this, as the market situation is awful at this time. Nevertheless, you need to maintain a positive attitude and wait for the market to recover.

bangkit tri

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Quote from: Findingnemo on November 26, 2018, 08:49:18 AM

Now the price looks greenish so the price starts to recover from the bottom level?

I hope the prices will recover soon or else the bad reputation will start circulating for the bitcoin which can kills the upcoming investors on it.

of course i hope that soon there will be a surge that can break through yesterday's resistance, so that a good signal will occur. if it only rises slightly, of course it's still worried if only the price is corrected

Findingnemo

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Bitcoin = Financial freedom

Now the price looks greenish so the price starts to recover from the bottom level?

I hope the prices will recover soon or else the bad reputation will start circulating for the bitcoin which can kills the upcoming investors on it.

KnightElite

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Quote from: Kakmakr on November 23, 2018, 02:52:57 AM

Just a little reminder for the Bitcoin price watchers! The price will drop slightly today, because a lot of people will be buying some goods and services with some of their bitcoins. These bitcoins will increase the supply of bitcoins on exchanges and we might see a little drop in the price as a direct result of that.

So DO NOT panic, if this happens today.

We hope that people will be motivated by merchants to buy at a reduced price, if they use bitcoins as the payment option. This will balance out the over supply of bitcoins, when there is a increase in the demand for coins.

So Bitcoin merchants, offer some of those large discounts to people who only use Bitcoin as a payment option and see how the price will increase. Roll Eyes

Hope this makes some sense. Tongue

Just hold our bitcoins, the reason why there are many people who are losing their money is because they do not have trust to their selves and they keep panicking if they see that the price of the bitcoin is going down. It is better if we will just stay calm and watch the market grow again.

Ridwan Fauzi

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I think we need information like this when the bitcoin price drops continuously. Black Friday has passed and you really know it well, and now cyber is it going to really happen? however, at the moment the price of bitcoin has increased a few percent and returned to $ 4000.

tosmartak

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Quote from: potivech on November 24, 2018, 08:09:35 PM

It's worth remembering that $3000 is the cost to mine a Bitcoin in China (where the vast majority of Bitcoin are mined), so anything down to that level would be absolutely fine and actually quite positive for crypto

There is always a point in your market experience, when price drops, the last thing you want to be doing is get worried as that would practically be like getting worried for no reason at all. If the price drops lower, I guess that would just be another opportunity for a lot of us looking to stash up to buy more lower. I am already experiencing my own black Friday with bitcoin price personally, which is all I care about right now.

Kakmakr

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The worst influence of this price drop will be with the retailers and merchants that would stop accepting Bitcoin as a payment option. During the year their Bitcoin sales might be poor, but they expect an increase in Bitcoin sales over Black Friday and Cyber Monday and if that does not happen, then they might consider stopping their support for Bitcoin payment.

I must admit, I did spend a few bitcoins on some specials, just to stimulate the Bitcoin payment network, but this might also be my most expensive items that I have ever bought in a year or two.

I did replace some of those bitcoins, after I used some of my hoard, so the impact should be negligible in the future. Tongue

cryptocrusher

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Quote from: kryptqnick on November 23, 2018, 02:35:53 PM

Quote from: cryptocrusher on November 23, 2018, 11:28:55 AM

Your logic is perfectly sound, I just don't think that there's enough people spending bitcoin today for it to have any noticeable influence on the price. It would need to be millions of dollars or more to move the market. Either way, merit for your actual grasp of the situation and the underlying economics behind it.

Well, from what I see, people are absolutely crazy about Black Friday. I found information that last year retailers in the US earned $7.9 billion dollars. You are saying that millions will need to be moved out of the market, which will be some really low percentage even for the US, whereas we also have the rest of the world!

$7.9bn dollars. But how much of that was made up from bitcoin? I suspect not more than a few million, perhaps even less. It would take probably at least $100m to move the market. So that is why I believe that this would have had a negligible influence on price. Either way, we did have a crash and black Friday may have contributed to some extent.

Kakmakr

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Well, Black Friday has passed... but we still have Cyber Monday and as you know most of us are "IT Geeks" in the Bitcoin community, so we are more likely to dump some coins on cheap IT gadgets and computer consumables on Monday. Roll Eyes

The latest drop below $4000 will definitely put some brakes on Bitcoin spending. I had a specific item in mind, but even with the Black Friday special, it worked out more than what I could have bought it prior to the price drop in Bitcoin. Angry

Funck you, Roger Ver and CW! Angry

Topic: Warning - The price will drop more on Black Friday! DO NOT Panic. (Read 599 times)