I completely agree on some points, like how bitcoin fundamentals are indeed getting better every time. However, you also have to consider that there are also some negative points that are happening (e.g. Craig "fake ahole satoshi" Wright). So given this, my opinion is that the decline is not unwarranted and is not just a "cycle" this time around. Theres some sketchy things happening but hopefully it is also temporary.
P.S. It's refreshing to see actual analysis on these boards instead of questions.
Topic: Why Bitcoin is Declining? And What’s Next? (Read 906 times)
Up till now, the price of bitcoin in the market has been low, since BAKKT launched last 23, of September 2019 and it seems that it has remained between 8000 $ to 8250 $, I think it controls it if it high value thinking. Or it could be that many are buying bitcoin at its current price.
The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!
These are just rumors.
The bitcoin hash rate has already recovered. The fall was due to the elimination of a huge number of positions on the Bitmex exchange, in any case, I heard such things from experienced traders.
The fall is likely to continue.
Yes, you are right it is because of Bitmex leverage trading which the buy orders have been eliminated. But if you compare with the previous hash rate, now it is high which many people are kept mining the Bitcoins. Now, most of the experience people are predicting the price of Bitcoin will go down even to 6500$.
When I checked the price value of BitcoinBTC in the market, it is already below at 8,500$ which is 8,045$ according to coinmarketcap.
I'm not exactly sure if this the effect of bakkt when it launched this past September 23, 2019 after that event happened, then this is the result of the market now in crypto, I don't know if this a great news or what? But for others its normal things happen in crypto, probably, I think by October everything will be fine again.
It is really hard to predict the market trend at this time because the investment demand is very low this year and investor sentiment can make your investments meaningless. Now it is best to do nothing because the market has not shown any signs of recovery and it will be very risky if you choose to invest right now. I'm not exactly sure if this the effect of bakkt when it launched this past September 23, 2019 after that event happened, then this is the result of the market now in crypto, I don't know if this a great news or what? But for others its normal things happen in crypto, probably, I think by October everything will be fine again.
The best advice for you is to stay calm and learn new knowledge from this market as it will help you in 2020.
When I checked the price value of BitcoinBTC in the market, it is already below at 8,500$ which is 8,045$ according to coinmarketcap.
I'm not exactly sure if this the effect of bakkt when it launched this past September 23, 2019 after that event happened, then this is the result of the market now in crypto, I don't know if this a great news or what? But for others its normal things happen in crypto, probably, I think by October everything will be fine again.
I'm not exactly sure if this the effect of bakkt when it launched this past September 23, 2019 after that event happened, then this is the result of the market now in crypto, I don't know if this a great news or what? But for others its normal things happen in crypto, probably, I think by October everything will be fine again.
Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.
I'm pretty sure you are not alone, but that's alright if you believe bitcoin will again rise and break its ATH.
$15000 is likely to be achieved this year as we already have reached $13,000 as our high this year, so that's $2000 more which is easy to achieve once the market starts to be bullish again. We weren't see BTC performed good in the 3rd quarter, but let's always remember that there's plenty of time left yet, so let's be optimistic that the 4th quarter is good as in year 2017.
The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!
These are just rumors.
The bitcoin hash rate has already recovered. The fall was due to the elimination of a huge number of positions on the Bitmex exchange, in any case, I heard such things from experienced traders.
The fall is likely to continue.
The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!
LINK OR IT DIDN'T HAPPEN.
The rumor is that a big btc mining farm closed its doors and the hashrate has fallen big time!
Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.
I'm pretty sure you are not alone, but that's alright if you believe bitcoin will again rise and break its ATH.
$15000 is likely to be achieved this year as we already have reached $13,000 as our high this year, so that's $2000 more which is easy to achieve once the market starts to be bullish again. We weren't see BTC performed good in the 3rd quarter, but let's always remember that there's plenty of time left yet, so let's be optimistic that the 4th quarter is good as in year 2017.
The market has grown again, the chart is really showing predictions in the right direction.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
Ha, I don’t think you know the level for which altcoins has drastically or badly been damaged, because if you know, you will not advise people to sell. Imagine something that I bought $1000 has turned to less than $50, so how do you expect me to sell that one, and what increase would bitcoin ever have that would make that money turn back to $1000 again,.I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
I would rather just leave those altcoins and be waiting for the time that altcoins season will start so that I can get back my money, then I can keep them for the next bear market of bitcoin and buy strictly bitcoin because I have tested some of these coins now and I have realize that majority of them are not worth investing in unlike bitcoin, and this is the reason bitcoin is gaining very high dominance.
The market has grown again, the chart is really showing predictions in the right direction.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
I also have thoughts with you. Now Bitcoin is completely overwhelming this market so holding BTC will bring more positive returns during this period. The market is currently in a downtrend but Bitcoin has remained stable throughout the past year and this is really good for those who hold the coin. Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.
The market has grown again, the chart is really showing predictions in the right direction.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
I also have thoughts with you. Now Bitcoin is completely overwhelming this market so holding BTC will bring more positive returns during this period. The market is currently in a downtrend but Bitcoin has remained stable throughout the past year and this is really good for those who hold the coin. Personally, I used to buy BTC at a very high last year but my psychology is still stable so I hope that the price of $15,000 can be achieved this year.
The market has grown again, the chart is really showing predictions in the right direction.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
I think by the end of the year, Bitcoin will go up even higher than $ 15,000 and BTC Dominance will be up to 80%. This is the time when we need to sell all the alts to buy BTC and get big profits in a short time.
Any time that bitcoin market price is declining the next this you should do is to buy at that cheaper price and hold till when the its price appreciate again and in doing that you will make profit and at the same time you will help the market bounce back to its fullest height.
Good point on the take profit at 12.5K. There is a lot of resistance at 13K, so it is a good idea to take profit before it hits it, but with the way the trend is going, if it reaches past 12K again in the near future, I think it will explode towards 15K.
I just believe that before the year fully runs out, we should be able to see the value of bitcoin get that high before making for some further corrections that will take us over to the next year. As the rice as then declined now, the very best is to accumulate now.
Hi,
No one knows for sure, but, most probably, you are right! There are very strong indicators suggesting the Bitcoin price is set for a massive move, and may even potentially achieve new all-time highs by the end of 2019!
The price you’ve indicated - $12,500 - is certainly very important since it’s a significant short-term resistance level, which, when broken, will result in a massive move upwards.
Currently, the price has formed a triangle chart pattern and is moving sideways. We should wait for either a breakout above the $12,500 or below the $9,000, to be able to make a substantiated trading decision.
I believe that the probability of a breakout above the $12,500 resistance is much higher, and I’m anticipating a new rally upwards.
Currently bitcoin is dumping very strong and at risk of going back to $ 9k today or tomorrow.
Do you think I should DCA? I always believe in the future of Bitcoin but I still have not determined the right purchase price. Can you help me on this? thanks very much
Do you think I should DCA? I always believe in the future of Bitcoin but I still have not determined the right purchase price. Can you help me on this? thanks very much
If you are a long-term investor that basically any price is a good price, because the long-term valuation of Bitcoin implies that it’s price can increase significantly higher compared to today’s price.
It you are a day-trader, than consider entering now at 9,500 with a tight stop-loss and a take-profit target at $10,500. This is an excellent deal in term of potential risk/return.
Bitcoin so far was declined again, probably there are some whaler put a huge amount to sell their Bitcoin where it leads the price went down so much. However, it is a good timing for us to buy em again then hold in a long term for us to gain in the future when price goes up again in the market as well.
I did not think the decline was as a result of whales because if they were the ones, why would they wait for this long then to dump it now, because the price already crossed over $10000 some days ago and that dumping occurred two days ago, so I see no logical reason why they chose that day to dump. I think there is actually something else that would have caused panic, and once it is clear, people will surely return the money back to the market, while those that didn’t have money would have seen it as an opportunity to buy, even those that even have money like I did. I bought some also at that cheaper price and I am waiting for a rebound so that I can take that little profit to cater for my little needs. At least, while waiting for the other big investment to grow, we can still be shorting.
I think the price decrease was due to the existing FUD. Well, this might have something to do with $ 500 million in bitcoin transfer at just one address. but I don't really know for sure what caused the price of bitcoin to fall at current prices. I also got some information that the price of bitcoin is predicted to drop to $ 8k, and the lowest is $ 7k. it's just that I'm not so sure about that prediction
maybe you can find the answer here for the next step you can choose.
https://cointelegraph.com/news/bitcoin-price-update-where-do-we-go-from-here
maybe you can find the answer here for the next step you can choose.
https://cointelegraph.com/news/bitcoin-price-update-where-do-we-go-from-here
Currently bitcoin is dumping very strong and at risk of going back to $ 9k today or tomorrow.
Do you think I should DCA? I always believe in the future of Bitcoin but I still have not determined the right purchase price. Can you help me on this? thanks very much
Do you think I should DCA? I always believe in the future of Bitcoin but I still have not determined the right purchase price. Can you help me on this? thanks very much
If you are a long-term investor that basically any price is a good price, because the long-term valuation of Bitcoin implies that it’s price can increase significantly higher compared to today’s price.
It you are a day-trader, than consider entering now at 9,500 with a tight stop-loss and a take-profit target at $10,500. This is an excellent deal in term of potential risk/return.
bitcoin now 9588$ i think it may crash more ! It may decline up to $9,000, but the decline lower that level is very unlikely. This market provides a good opportunity to buy at a cheap price with a tight stop-loss, which is an excellent situation for traders.
Jump to: