What the Effing Hell is Going On!?!?! - page 7.

michellee

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Quote from: thecodebear on June 27, 2019, 08:17:11 PM

Why is the OP freaking out about a correction? Did he not expect a correction after a parabolic move (topping off with 20% in one day!)??

A correction back to $10k was pretty obvious.

I think he buys bitcoin at a very high price and that makes him panic to see the price is down deeper. I think many people are not expected to see the correction to happens and they are shocked to see the bitcoin price has turned to go down. The down of the bitcoin price gives a chance for us to buy bitcoin at a very low price, and I am sure that some of us can buy at that price.

eddie13

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BTC or BUST

Quote from: Pipdips on June 27, 2019, 01:13:03 PM

Quote from: Wilhelm on June 27, 2019, 01:11:04 PM

Chill the F out. Bitcoin can go both ways fast. If you missed that point then your TA sticks balls.
Bitcoin is no sure shot. Emotions will get you bankrupted.
Just HODL and you will be talking about how well you invested in a month.

I bought more at 3500, 4500, 5500, 8500, 9100, and 13600....

What?
You thought you could win them all? lol

STT

legendary

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Higher price tends to bring in new faces, new names and speculators because its a hot stock. It could be a positive thing for BTC to attract such attention but really its the long term factors that matter most, there is a natural froth type action and that also explains why it can pull back at least as much again.

I will attempt to address Hell and extrapolate exactly what is going on, of course with such a rapid situation much attention is required and rapid adjustment. Right this moment, I'm forced to be bullish because we attempted to close below some support and it failed to achieve this so we go back up.

Every time I ignore a touch of support like that I regret it as within a day its off to the races again. However I do find the Asia trading hours such as now do tend to be more bullish then the rest of the world. Again thats just my impression.

A quick snippet of my graph and an attempt to show how we have failed in an attempt to break downwards, hence remain bullish it would seem most likely. For anyone who dont like charts, just notice the long pins and we 'bounce' above white (also blue) line. Takes 24hr to really soak in maybe

LimLims

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

Before saying anything, you need to understand
How the price of a particular coin affects.
So the price of BTC affects when the trading volume of the coin is more.
At that time the trading volume was more, so the price was kept on increasing,
But now the volume has came little down, so we are seeing a downfall of the coin.
This is normal.

thecodebear

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Why is the OP freaking out about a correction? Did he not expect a correction after a parabolic move (topping off with 20% in one day!)??

A correction back to $10k was pretty obvious.

marcbitcoins

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

Maybe some of the Bitcoin bullish is not really a real demand but just a big whales pump and they are now claming it. I also heard yesterday that there is another hacked exchange incident that if its true then they are selling all stolen Bitcoin but anyway this is not the end of your Bitcoin investment just a little patience and keep on holding as this bullish interruption will end quickly.

Slow death

legendary

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday.

to get worse, fell to $ 10500

Quote from: Pipdips on June 27, 2019, 12:42:25 PM

What the hell is going on !?!?

I do not know what happened, but I can assume that some people may have thought that the price would not exceed $ 14000 and that it was their chance to get high returns and avoid repeating the same thing that happened in December 2017 or second option may be because may not have been able to break the resistance you had at $ 13900. anyway, I was not expecting such a big price drop, it was a 20%

Quote from: Pipdips on June 27, 2019, 12:42:25 PM

Like a fool I bought some at $13,600. Regrets?

just Hold

Maslate

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Quote from: Vness10 on June 27, 2019, 06:28:59 PM

Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

We know that market always like this it goes up and drop but i think the best you can do is hold your emotions dont panic because btc drops. Its normal in the market and it will back on track again just be more patience.

Accepted that it is regrettable why we don't sell our coins during that days when the price is high. We don't do it cause we want more and we think that it will continue to go higher, but it drops down unexpectedly which nobody predicting that will happen. But nothing to do with that, that's actually will possibly to happen. It could be a big lose those who buy Bitcoin at $11k.

exstasie

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Typical volatility. You can't rise $1,000+ a day and not expect insane volatility. There is a massive amount of emotion in this market right now. FOMO, greed, fear. Some people are massively over-leveraged. Add very thin order books into the equation and you've got a recipe for fast whipsaws that run through large ranges.

Everybody gets chopped up!

Quote from: Pipdips on June 27, 2019, 12:42:25 PM

Like a fool I bought some at $13,600. Regrets?

You FOMO'd hard, LOL. I was on the other end of it. I saw a $2,000 daily candle and started selling into it. I was kicking myself for selling too early (began slightly below $13K) but I'm perfectly happy now.

I believe we will be back above your buy-in in the coming weeks, or at most, months.

timerland

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

It's nothing out of the ordinary. It's simply a correction, that was bound to come sooner or later.

I'm not sure why you'd expect anything else, even, given the fact that the growth we've seen over the past week was simply unsustainable. The rallies that we saw up to $13k+ was mostly a result of FOMO buying due to the hype of BTC going through the $10k resistance, which has psychological significance to investors, and perhaps some short squeezes as well.

These short term cycles are quite common in any asset class, not just BTC. I don't think that buying at that level was necessary a bad trade per se, given that you have the patience and belief in BTC in the long term. It seems like the $10k support has been tested and it held up nicely, which is a bullish sign.

Vness10

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

We know that market always like this it goes up and drop but i think the best you can do is hold your emotions dont panic because btc drops. Its normal in the market and it will back on track again just be more patience.

cocoadreamboy

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Quote from: dothebeats on June 27, 2019, 04:25:31 PM

Don't trust the charts. Check volumes and price swings on different exchanges then do your decision. I've been into your situation countless of times and I have only trusted the charts and price trackers and never looked deeper into the action. $13500 is definitely not the price range we should be in currently, due to the fact that it came so rapidly without any solid backing. It's obvious that it was a pump after all and will not hold for long due to low volumes on the buying side and a huge number of sell orders listed.

Do not go by emotion and always check data and volumes, not just the prices.

Please be aware that the volumes are regularly over inflated, due to the massive amount of wash trades and falsified data.

What kind of data do you use and where do you find it?

I use creation costs and risk analysis, which I find on this site here:

https://www.amsinger.org

Manipulation is rampant in crypto, as a veteran I'm just used to it,

Aaron

dothebeats

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Don't trust the charts. Check volumes and price swings on different exchanges then do your decision. I've been into your situation countless of times and I have only trusted the charts and price trackers and never looked deeper into the action. $13500 is definitely not the price range we should be in currently, due to the fact that it came so rapidly without any solid backing. It's obvious that it was a pump after all and will not hold for long due to low volumes on the buying side and a huge number of sell orders listed.

Do not go by emotion and always check data and volumes, not just the prices.

Baofeng

legendary

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Correction is really due, I mean the massive pump from $10k->$13.5K is what last 2-3 days? That's an indication that either someone is manipulating the price or FOMO is pushing the price to form a bubble. But I'm sure the OP knows, the risk, but I'm still optimistic that we're still in the bullish trend and the price could go vertical again so just hodl on it.

cocoadreamboy

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

I have posted much about why 13k is unsustainable, check out my other topic:

https://bitcointalksearch.org/topic/why-was-13800-unsustainable-5158923

Use true data for your investment choices not fervor and emotions.

Hope this helps my friend,

Aaron

fudster

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Not watching the charts? The spike of BTC is just unbelievable, you gotta see that coming.

Quote from: STT on June 27, 2019, 02:30:15 PM

Quote from: LFC_Bitcoin on June 27, 2019, 01:12:15 PM

No, HODL until 12-18 months after the halving & you’ll be laughing. Bitcoin is a long term investment. I started buying in 2014 & I was in big losses until the tide turned. You might have to wait but bitcoin always goes up. Just be patient & trust in the process.

This is good advice, worth taking a look at what the guys who've been around five years. Going back to the full circle dips and peaks, what they say or do will vary from experience.

Its actually good for the price to pull back and establish properly after a peak like we've had. Volaility is apparent when price is moving in only one direction, people are happy while it lasts but its negative not to allow new entrants into the market at some lower pricing.
Its very possible the real run is going to centre around halvening. The point I would add in at that time frame is that I really think the halvening has most effect after, the price rising beforehand is nice for some but its speculation; where as Iam really bullish on BTC fundamentals that favour higher price

That would be too much of a wait. It probably won't take that long to break the resistance at $14k. Breakout can happen in maybe 2-3 months. If you are a long term holder, price should be worth if you wait up to 12-18 months. For you to not commit same mistake, you limit the amount of money to put in the exchange $2000 is just about right so you won't regret when this happen. But buying while at the ATH is just not a good idea.

1Referee

legendary

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It shouldn't come as a surprise that when the price rockets up with 20% in one single day, which is a shitcoin level pump, that it tanks with the same or even higher percentage.

The block halving is like 11 months away from here so just keep holding your coins and use the lower price (if you have fiat left) to scoop up some more coins to lower your overall buying price. I am strongly of believe that this is a healthy correction and we're going to break through the resistance around $14,000 and shoot well past it.

STT

legendary

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Quote from: LFC_Bitcoin on June 27, 2019, 01:12:15 PM

No, HODL until 12-18 months after the halving & you’ll be laughing. Bitcoin is a long term investment. I started buying in 2014 & I was in big losses until the tide turned. You might have to wait but bitcoin always goes up. Just be patient & trust in the process.

This is good advice, worth taking a look at how the guys who've been around five years are gauging this move. Going back to the full circle dips and peaks, what they say or do will vary from experience.

Its actually good for the price to pull back and establish properly after a peak like we've had. Volaility is apparent when price is moving in only one direction, people are happy while it lasts but its negative not to allow new entrants into the market at some lower pricing.
Its very possible the real run is going to centre around halvening. The point I would add in at that time frame is that I really think the halvening has most effect after, the price rising beforehand is nice for some but its speculation; where as Iam really bullish on BTC fundamentals that favour higher price

South Park

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Quote from: Pipdips on June 27, 2019, 01:13:03 PM

Quote from: Wilhelm on June 27, 2019, 01:11:04 PM

Chill the F out. Bitcoin can go both ways fast. If you missed that point then your TA sticks balls.
Bitcoin is no sure shot. Emotions will get you bankrupted.
Just HODL and you will be talking about how well you invested in a month.

I bought more at 3500, 4500, 5500, 8500, 9100, and 13600....

Most traders during their careers have made the mistake of buying at the top, depending on how much you bought when the price was low the average price of your coins should still be way below 10k so you are still in profits despite the huge movement down we are experiencing, as some other users have recommended you this is the moment to remain calm and follow your strategy, since you bought at different moments during this growth I suppose you also have an exit strategy, if your strategy tells you to hold then do it even if it is painful to see some of your profits evaporate, in a few years those losses will be nothing compared to the profits you will get.

Kemarit

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Quote from: Pipdips on June 27, 2019, 12:42:25 PM

It's down to $10,900. It was at $13,600 yesterday. What the hell is going on !?!?

Like a fool I bought some at $13,600. Regrets?

This is what you call a correction, it is inevitable, we just have a mini-bubble forming already and it has been burst. Many analysis has been calling $13500 the top before facing another massive drop, so this is it. I'm sorry to hear that you FOMO and entered at the top, but you can't do anything, unless you are willing to sell, exit and willing to suffer a loss. So If I'm in your shoes, I won't panic though, let the market goes into a correction and wait till everything settles down.

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