Why Bitcoin is crashing down? from which level one can start buying Bitcoin???

HeRetiK

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Quote from: Wekkel on September 10, 2017, 04:38:06 AM

Everyone has his own crystal ball but I currently think $3,200-3,600 is the sweet zone: https://steemit.com/bitcoin/@wekkel/bitcoin-chart-analysis-10-september-2017

I hate it when you guys read my mind and come to the same conclusion as me. It means that USD 4k,- is more likely to hold than not and I wont get to refuel on cheap BTC Angry

Quote from: Psalms23 on September 10, 2017, 04:48:05 AM

I am new to bitcoin world and this got me worried. Ive never seen bitcoin dropped like this when I joined crypto world. I have never experienced something like this one so I think I cant blame myself. Knowing some tips on this from you guys really assured me that bitcoin is somehow going to recover after its long drop. Im concerned over some alt coins though.

Welcome to party then, you ain't seen nothing yet. But don't worry, Bitcoin is surprisingly resilient. Alt coins are a mixed bag though. Relative to USD / EUR many are likely to recover at one point or another, relative to BTC might be a different story.

angaper

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In my opinion, $4,000 is becoming an important support level. At this price I would be willing to invest some of my venture capital if I had one. I personally do not think that the conditions are given to expect an even more abrupt drop in the bitcoin price, given that by its volatile nature this fall of 20% is still within the range of corrections we have seen this year.

We must bear in mind that bitcoin has suffered worse threats throughout its brief history, so I am convinced that it will emerge stronger than ever from this supposed Chinese threat that, which to my knowledge, is not completely confirmed.

Koadharber

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Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

Crashing? No it doesnt. It didnt even break the support level of 3800-3900 and also it already double bottom which means theres a reversal on its price and now its expected that price would recover.All of those news affecting its price is already over as of now i assume.When we do make use on the word "crash" which means most likely it being dumped down to the bottom but for now we are still on 4200 point.

Pearls Before Swine

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Quote from: hello_good_sir on September 10, 2017, 04:11:26 AM

Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

Haven't you heard? It is mainly because of report that had ben done on China planning on banning all of its exchanges. However, the contents of that report is pretty much unconfirmed and a lot of people are skeptical.

I think that if the news turned out to be true we could be looking at $3000 or so. But really right now we have strong support at $4000, as shown even before this event when China decided to ban ICOs. Bitcoin price still held up at $4000 nicely.

You buy whenever you feel comfortable. That for me is around $3500-4000.

I don't know whether to believe that news or not, but it certainly
seems to be having an impact on the price. But it could have been a lot
worse; we're still above $4000, and we shouldn't forget how far the price
has risen in the past two years. I think OP would do well to buy now. This
is just a dip in an otherwise solid bull market.

NoGems

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Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

A lot of support downside, choose yours Wink

4k, 3.8, 3.2.

hatshepsut93

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If you want to be extra careful, you can wait a week to see if there will be more dips - we seem to be entering a new FUD season, so further drops are certainly possible. But Bitcoin has also been showing a lot of strength, so maybe the bull run will soon continue and we'll again try to test $5,000/ Whatever you choose, it's better to stick to your position and not try to follow trends, because Bitcoin markets are highly speculative, and some market makers are in much better position than amateur traders. Try to invest for a longer periods of time, at least a year - so far the price have been almost always higher than 1 year ago, except for 2013 crash.

Wekkel

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yes

Quote from: vit05 on September 10, 2017, 12:28:06 PM

Quote from: Wekkel on September 10, 2017, 04:38:06 AM

Everyone has his own crystal ball but I currently think $3,200-3,600 is the sweet zone: https://steemit.com/bitcoin/@wekkel/bitcoin-chart-analysis-10-september-2017

So, if you are correct. The price to sell would be now at 4250 to buy again below 4k?

No, never sell. Only add.

vit05

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Quote from: Wekkel on September 10, 2017, 04:38:06 AM

Everyone has his own crystal ball but I currently think $3,200-3,600 is the sweet zone: https://steemit.com/bitcoin/@wekkel/bitcoin-chart-analysis-10-september-2017

So, if you are correct. The price to sell would be now at 4250 to buy again below 4k?

AngelSky

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Quote from: Catmony on September 10, 2017, 12:12:48 PM

Current price which is around $4100 can be considered as good price level to buy some cheap bitcoin but you can set buy orders below $4k and wait. Support for bitcoin is quite good at $4k so next bull trend might start from that level, therefore you can start buying near $4000 level.

Ya.The price of 4000$ is cheaper.I think the price of bitcoin will be stable at 4100$ now.It may reduce Upto 4000$.But it will not reduce lower than that value. I think this is the best rate to buy the bulk amount of bitcoin. Who's know the price of bitcoin will reach 4500$ tomorrow itself. If you to inverse means,inverse now.

Catmony

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Current price which is around $4100 can be considered as good price level to buy some cheap bitcoin but you can set buy orders below $4k and wait. Support for bitcoin is quite good at $4k so next bull trend might start from that level, therefore you can start buying near $4000 level.

bouren

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Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

It crashes because some people with faint hearts enter the bitcoin arena of courage without any pre-preparation. So from little fud or downfall, they get scared and dump their bitcoins so price falls.
About buying price, no one knows correctly when to enter. In such varying environment anytime could be good. All you need to do is to wait for future and it will reach new high.

Gotottack

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I think it is just something temporary because of the issues with china. I don't think it should really affect bitcoin prices that much. It is just that people are panicking and becoming afraid in buying or selling their bitcoins. There is really no reason that it is supposed to crash this much. It is really just about the china policy issues.

arpon11

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If $4000 is break then we would expect bitcoin to fell bellow $3500 and from there recover again. But if it test $4,000 and unable to break this level after this third test then $4000 will be the new ground floor. Therefore I will advise every one to keep their eye on $4000 whatever happens around $4000 will define the new price direction.

BrewMaster

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Quote from: Wekkel on September 10, 2017, 04:38:06 AM

Everyone has his own crystal ball but I currently think $3,200-3,600 is the sweet zone:

i remember vividly as it it were yesterday, the same "everyone" was using the same "crystal balls" to call the dump of bitcoin because they thought it is repetition of 2014. they were seeing $1200-$1500 as the sweet zone.
by the way price was $2450 and it went down to $2100 and for 10 minutes fell to $1920.

Coffee135

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Chinese exchanges will not be able to trade bitcoin for yuan. It is quite another. To make transactions for other currencies, no one forbids them. This will not affect the price of bitcoin. I think that the price will not fall below $ 4,000.

Yuuto

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Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

Obviously because of China.

Just earlier this week they announced that they will be banning ICOs and now that there are reports and news articles saying that they are planning on banning all bitcoin exchanges as well in the country.

This obviously lead to a panic sell-off from traders, especially those from China. You can see that Chinese exchanges have bitcoin priced at around $500 less than the US exchanges right now. I think that a good level to get in is $2500-3000, if the bubble pops due to this panic sell. But i think it is unlikely in this month we will see such low prices.

Psalms23

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I am new to bitcoin world and this got me worried. Ive never seen bitcoin dropped like this when I joined crypto world. I have never experienced something like this one so I think I cant blame myself. Knowing some tips on this from you guys really assured me that bitcoin is somehow going to recover after its long drop. Im concerned over some alt coins though.

Wekkel

legendary

Activity: 3108

Merit: 1531

yes

Everyone has his own crystal ball but I currently think $3,200-3,600 is the sweet zone: https://steemit.com/bitcoin/@wekkel/bitcoin-chart-analysis-10-september-2017

vsrsatish

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Quote from: hello_good_sir on September 10, 2017, 04:11:26 AM

Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

Haven't you heard? It is mainly because of report that had ben done on China planning on banning all of its exchanges. However, the contents of that report is pretty much unconfirmed and a lot of people are skeptical.

I think that if the news turned out to be true we could be looking at $3000 or so. But really right now we have strong support at $4000, as shown even before this event when China decided to ban ICOs. Bitcoin price still held up at $4000 nicely.

You buy whenever you feel comfortable. That for me is around $3500-4000.

Thank you for your valuable information, lets see till what price does bitcoin comes down. I think if it comes to $3000 it will be great opportunity to buy bitcoin.

hello_good_sir

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Quote from: vsrsatish on September 10, 2017, 03:04:57 AM

Why Bitcoin is crashing so rapidly? what is the support level for bitcoin to buy again and accumulate?

Haven't you heard? It is mainly because of report that had ben done on China planning on banning all of its exchanges. However, the contents of that report is pretty much unconfirmed and a lot of people are skeptical.

I think that if the news turned out to be true we could be looking at $3000 or so. But really right now we have strong support at $4000, as shown even before this event when China decided to ban ICOs. Bitcoin price still held up at $4000 nicely.

You buy whenever you feel comfortable. That for me is around $3500-4000.

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