Why Bitcoin is Declining? And What’s Next? - page 3.

barbara44

hero member

Activity: 2450

Merit: 605

Quote from: pawanjain on August 23, 2019, 12:59:46 AM

My eyes! My eyes!
What's with the huge font bud ? You can keep the default font size of 10pt as it is soothing to eyes and easily readable.

As for the speculation, I think that the selling price is a bit too high considering the ATH of this year to be about $13000.
There is a barrier at $13k and only if BTC crosses that mark, it will reach the $15k target. So according to me the profit takeout target should be around $12.5k.

If they set their profit at $12.5k, and at that point is when the increase successfully breaks the barrier of $13k, would they not have missed out already after their trade must have been executed at $12.5 and you know the thing with bitcoin bull run, before they make decision to quickly join the moving train, the price may have reached almost $15k and the peak at that again for possible corrections, which means they will find themselves stocked on again for a very long time after they must have joined the train at that $15k thinking it would continue to surge higher.

The point of what I am saying is that it is better to just be patient to see the end of the final peak than pulling put often and trying to get back into the market except for day traders and they need to

muhhentuhhen

full member

Activity: 352

Merit: 100

Quote from: Monfex on August 21, 2019, 10:53:22 AM

Quote from: jostorres on August 16, 2019, 01:49:50 PM

I think what will happen next is the dominance will fall for bitcoin because all money went in there and people are slowly realizing there is not much money can be made from bitcoin so they gonna move that to either usdt which will drop the price (happening as of right now) and then there will be some that will move their money to altcoins which will make the real difference because then we will have altcoins going up a ton and that is where the real money comes in.

Even 1% of bitcoin moving to some coin would make it go insanely high and earn you easily x2-x3 of your investment. That is what people forgot, it takes a lot to move bitcoin but as soon as that money starts to pour into other altcoins it will be super easy to move that money and then people will use that money to fuel more bitcoin and it will repeat itself until its unsustainable.

I don’t think that is the case because Bitcoin is starting to be recognized by more financial institutions and even today it was announced that the NYSEs parent company “International Exchange” will start allowing futures contracts to be paid in Bitcoin. And the news from New Zealand stating that they will now allow employers to pay their employees with Bitcoin if they wanted is also great news. It just goes to show that Bitcoin is probably here to stay, but it has to decrease it’s volatility in order for it to be widely accepted.

These are just foreseen fluctuations. Although the hashrate on the network has reached a historic high, which is a signal that BTC will go up soon, this does not help the reference cryptocurrency. The level of $ 11,000 became an insurmountable resistance.

Recently, both bulls and bears have become more modest in their requests: both of these "crypto animals" have enough range of about a thousand dollars to initiate reverse dynamics.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

My eyes! My eyes!
What's with the huge font bud ? You can keep the default font size of 10pt as it is soothing to eyes and easily readable.

As for the speculation, I think that the selling price is a bit too high considering the ATH of this year to be about $13000.
There is a barrier at $13k and only if BTC crosses that mark, it will reach the $15k target. So according to me the profit takeout target should be around $12.5k.

hahay

legendary

Activity: 3486

Merit: 1055

Leading Crypto Sports Betting & Casino Platform

Next is an increase because every time there is a large decrease at least there will be an increase in height even though it takes time to be more patient. Currently the market has improved even though prices have not fully increased because it is still stagnant in the same range from the previous day which proves the market still needs time to get a bull run.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: suzanne5223 on August 21, 2019, 10:50:43 PM

Quote from: Yamifoud on August 21, 2019, 06:33:23 PM

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

I think we need to be prepared if the price is down again, we can get another solution to prevent the losses. The market still unpredictable until now and it is difficult to know where the price wants to go, but with preparation, we don't have to worry if somehow the price moves to the other way that we don't predict. We could still take the benefits from the price direction and if the price increase, we could also make another benefit by selling bitcoin at a high price.

suzanne5223

hero member

Activity: 2660

Merit: 651

Want top-notch marketing for your project, Hire me

Quote from: Yamifoud on August 21, 2019, 06:33:23 PM

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

You're right cause tomorrow is not promised and no crypto price analysis can provide accurate result but with a lot o different method been used by experienced Technical analysis and the bakkt bitcoin futures/warehouse which was said to be debut next month. There's possible chance that the price of bitcoin market will experience more surge in price than dump from September.

PuertoLibre

legendary

Activity: 1876

Merit: 1003

Quote from: LimLims on August 21, 2019, 12:50:13 PM

The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.

The old question will be always actual, BTC price is visiting the resistance and support level in a week. For example, in the spot forex market, there is no reason to trade the resistance level of the 1-month-old price. The price barely touches the old resistance(support) levels unless the big news forces the market participants to trade those levels. I can keep counting the reasoning but each market has different stop hunting techniques, OP should protect his trades in such cases.

Yamifoud

hero member

Activity: 2814

Merit: 518

What next? The answer will be either going down or up, nothing to be assured. Even we saw the declining market isn't the thing we should put worries on it and thinking for negative instead, we should be positive towards the market as not all the time it will be like this.
Investors and traders are the tools to make help the market increase its volume and also the demand. Hope they're still in and making some investment though.

LimLims

sr. member

Activity: 1204

Merit: 272

1xbit.com

The OP is almost one month back.
Till that a lot of things has happened.
Bitcoin keeps on fluctuating.
So the reason for BTC declining is low market cap or trading volume.
So in order to withstand it, or in simple words when BTC will rise? The answer is when the trading volume will be more.
Hope this helps.

Naida_BR

member

Activity: 980

Merit: 62

Quote from: Monfex on August 21, 2019, 10:53:48 AM

Quote from: iam_aayushiJ on August 20, 2019, 03:57:34 AM

Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices.

Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical.

There you go, all done with the comments!

I think that the struggle is not about the coin itself but altcoins as a total.
Neither altcoin can reach far in price, they all struggle in levels that were far below their tops. Ripple does good deals, but if altcoins won't grow in price no one of them is going to hit a high level by its own.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: iam_aayushiJ on August 20, 2019, 03:57:34 AM

Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices.

Sure XRP is cheap, but it hasn’t really proven itself. It also broke past its key support recently and is now struggling to get over .30. The only good news about Ripple at the moment is that it has partnered up with MoneyGram recently. Unless I see more evidence of it increasing, I remain skeptical.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: jostorres on August 16, 2019, 01:49:50 PM

I think what will happen next is the dominance will fall for bitcoin because all money went in there and people are slowly realizing there is not much money can be made from bitcoin so they gonna move that to either usdt which will drop the price (happening as of right now) and then there will be some that will move their money to altcoins which will make the real difference because then we will have altcoins going up a ton and that is where the real money comes in.

Even 1% of bitcoin moving to some coin would make it go insanely high and earn you easily x2-x3 of your investment. That is what people forgot, it takes a lot to move bitcoin but as soon as that money starts to pour into other altcoins it will be super easy to move that money and then people will use that money to fuel more bitcoin and it will repeat itself until its unsustainable.

I don’t think that is the case because Bitcoin is starting to be recognized by more financial institutions and even today it was announced that the NYSEs parent company “International Exchange” will start allowing futures contracts to be paid in Bitcoin. And the news from New Zealand stating that they will now allow employers to pay their employees with Bitcoin if they wanted is also great news. It just goes to show that Bitcoin is probably here to stay, but it has to decrease it’s volatility in order for it to be widely accepted.

iam_aayushiJ

member

Activity: 190

Merit: 15

Customer Support at https://coinswitch.co/

Nice analogy and explanation, hope bitcoin keep increasing now. Meanwhile I am focusing on buying ripple with bitcoin. Ripple is currently at dirt cheap price, amongst the top 10 coins that I keep buying and selling, ripple and bnb are my top most choices.

jostorres

hero member

Activity: 2464

Merit: 585

I think what will happen next is the dominance will fall for bitcoin because all money went in there and people are slowly realizing there is not much money can be made from bitcoin so they gonna move that to either usdt which will drop the price (happening as of right now) and then there will be some that will move their money to altcoins which will make the real difference because then we will have altcoins going up a ton and that is where the real money comes in.

Even 1% of bitcoin moving to some coin would make it go insanely high and earn you easily x2-x3 of your investment. That is what people forgot, it takes a lot to move bitcoin but as soon as that money starts to pour into other altcoins it will be super easy to move that money and then people will use that money to fuel more bitcoin and it will repeat itself until its unsustainable.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: HYUP89 on August 13, 2019, 04:24:01 PM

all these charts looks so complicated Angry

They seem complicated at first, but once you get into TA it will open up a whole new world for you. I recommend you check out "investopedia" to brush up on the charts.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: michellee on August 13, 2019, 07:05:52 AM

I think this week, bitcoin was down again, but no one will know until how much the price will go down. We cannot predict how long this situation will be, but we can prevent from the down by selling some of bitcoin to buy again at a low price. I think we already make a profit in the last few weeks so we can prepare to buy the next bottom of the price. The trend still on the down and it looks like the trend will be like that for this day unless there is a massive buy from trader so the price can be lifted for a while.

It looks like it has some good support at $9,500 but if it goes below $9,000 we may be in trouble. Personally I got in at sub $9,000 and got out at $10,300 as it had met some tough resistance at $10,400. The chart looks good now and we may see an upward trend forming.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: SirLancelot on August 13, 2019, 06:57:45 AM

Quote from: TheBusstop on August 12, 2019, 03:28:14 PM

what do you think will be the next move after the uptrend. from my own little observation, it looks like we will continue the uptrend towards 13k price mark before another retrenchment to 10k. i doubt if the price will go below 9k this year again.
i will love to see altcoins move in the same direction as bitcoin please.

Since we had once tested the value of $13800, I am sure that there might be a retest of it very soon if there can be a broken barrier of $12k, bitcoin will still try and target that, maybe even get to $14k before retracing back to $10k, but all still a perfect bet even if bitcoin goes back to $10k now, I have some coins that has been sold already at $12k, I would just have a better chance of buying cheaper then at $10k which would give me more coin than what I am holding right now.

Every direction bitcoin goes will always be favorable if you really know how to shocking every side of the market, if bitcoin increases further now, it favors some of us, if it decreases, it still in a very big favor of us. Altcoins, I don’t really know what is going on with those ones.

Bitcoin was getting rejected hard around $12,000 and now it dropped. It looks like it has some good support at $9,500 now and we may see an upward trend soonish.

Monfex

copper member

Activity: 95

Merit: 2

Quote from: TheBusstop on August 12, 2019, 03:28:14 PM

what do you think will be the next move after the uptrend. from my own little observation, it looks like we will continue the uptrend towards 13k price mark before another retrenchment to 10k. i doubt if the price will go below 9k this year again.
i will love to see altcoins move in the same direction as bitcoin please.

That uptrend seems to be over. The price collapsed back to the support of about $9,500 and it looks like we may be crawling back up right now. If it goes below $9,000 though, we may be in trouble. Goldman Sachs is bullish on Bitcoin, but even their analysts said that if it drops below the $9,000 mark, then Bitcoin is in trouble.

Distinctin

hero member

Activity: 2772

Merit: 645

No dream is too big and no dreamer is too small

Quote from: nydiacaskey01 on August 13, 2019, 07:42:22 PM

One possible reason why Bitcoin price is declining is because of the Chinese ghost month which will last until end of this month. Asians who follow this tradition stay away from investing in new business ventures or try to buy anything. While other says there's not much affect, Chinse community still is a factor to consider in the sudden drop of BTC price.

This kind of tradition from the chinese maybe we will see the effect in stock market, but not much in crypto.
Based on https://fitzvillafuerte.com/happens-stock-market-ghost-month.html , the ghost month in 2018 was from "August 11 to September 9" and I checked on the btc price last year here https://coinmarketcap.com/currencies/bitcoin/ and there no consistent drop of BTC price.

From Aug 11 2018, BTC price at $6151, increase to 7380 on Sept 5 and in the end of the period, btc price at $6200 (approximate price only)

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

One possible reason why Bitcoin price is declining is because of the Chinese ghost month which will last until end of this month. Asians who follow this tradition stay away from investing in new business ventures or try to buy anything. While other says there's not much affect, Chinse community still is a factor to consider in the sudden drop of BTC price.

Topic: Why Bitcoin is Declining? And What’s Next? - page 3. (Read 883 times)