Topic: why Bitcoin sudden dump, when it will bounce again... (Read 7337 times)

The trend is definitely there this year but we need to hold back to deal with it, I'm sure bitcoin will be pumped again this year because there are many collaborations that many companies this year so that the bull will definitely come back again this year.

Halving will be one of the awaited moments, is it possible that after halving bitcoin will be pumped again or even prolonged?

Bitcoin not reaches its bottom yet in its cycle, so be careful while trading

Really nothing wrong with Tulips, planted right they will flower for over half a century.  The cause of bubbles is primarily from US dollar, I'm only against the politics not anything else but the current situation is wrong on a number of points.  The easiest observation is USD is over used relative to actual trade done, the value is held up by the debt in a quite ironic way because when left as debt dollars stay as dollars and do not bring down the exchange rate.   I'm a bit off topic there but the point is BTC is not the cause of a bubble phenomena, its trying to adjust for the waves of inflation and instability incoming from FIAT over production of money.   Speculation is a normal human activity and in normal times it would sell off alot earlier but we have weak global reserve currencies, we have excess to the extremes not seen by human economies ever before.

   The price bubble in Tulips was its own problem, we could have similar with Bitcoin where the technology is fine but the price fails and disappoints many.     I dont want to see that because it would be discouraging and set back progress, the world would be worse off if crypto is disadvantaged and mistrusted.
   I dont fully understand what caused the Tulip bubble (it wasnt the Tulips or flowers at fault for inaccuracies), more study is needed there but right now I'm certain something unique in our life times is occurring not just this crypto technology but globally in economies we will see transformation and the ridiculous prices thrown about have that context ongoing.



Price right now is very sticky and sideways on an average week based pricing.    Its settling after the move and I've not sure we have much clue from these past days what it will do, its a waiting game but I think there is work to do before any rise especially.

Bitcoin lost support on 21 WEMA what was bitcoin trend line.That triggered massive amount of stop loss and liquidated longs.There was also unfilled CME GAP on 8200-8400 level..It had to be filled before next bull run
So things happen.When bitcoin begin next  run .Maybe next week or next next week.something has to happen now it looks like bitcoin is resting after crazy days

HODLing is the only strategy that works. Price may go down but like every cycle, a level reaches where accumulation begins again and the trend reverses. And the supply gets spread thinner among more people where most hold a small amount that does not give them anxiety due to volatility. This is what kicks the price higher until holders again sell to spread the supply further. Price declines occur whenever too much front running of expected rise occurs and many existing holders are over extended. I hold that it is impossible for Bitcoin not to gain value over time by this mechanism as long as it stays secure and a fixed supply asset.

why this big dump happen ...is btc in bottom or again dump happen

BTC accumulation going on soon we see bull run again

People keeps asking question on why bitcoin dump, why smart traders keeps looking for the deepest it will get for him to quickly buy, because like you rightly said, traders makes money from these fluctuation, and from this recent fluctuation, do you know how much some people would have made during those time, because any time that bitcoin makes a down move, there is always a corresponding upward movement of price back and this is that opportunity that traders that does shorts use in either making more fiat or multiplying their BTC.

There is no market without those fluctuations, and those fluctuations are what really make the market an interesting one and what really attract people from Forex trading to it. For me, I trade and then hold, that is how I benefit from the market fully.

   It`s normal and many traders wish for this fluctuations so they can earn a lot of money in short-term. 20% up or down is huge at current Bitcoin price,
changes are big and traders can make huge profit in weeks. Who buy at bottom and sell at top will earn a lot.
   Not only dumps can happen all of a sudden, same is with price rise, all of a sudden price can start rising. If you can`t notice this changes than don`t trade,
is my advice to newbies. I don`t trade, I hold and I don`t care much about this sudden price changes.

It is weird that we are living in bitcoin world with so much uncertainty and we are still fine with it. Think about it, if there was a stock that moved like bitcoin did, then IRS and SEC will be all on it and we would stay away from it because that company would be making a lot of profit then a lot of loss back to back and that is just too scary when it is a company or even a currency of a foreign country.

Whereas if you look at bitcoin and how it moves we are all fine with it, it moves hectic and goes up and down and does many silly stuff yet we don't leave, what makes bitcoin so great compared to others that we are fine with bitcoin moving like crazy but we are not fine with other investment things moving like that, why are we more accepting of bitcoin compared to other stuff? I really don't know.

I get why people might think this but also I see declining highs so I'm on more of the bearish side then this conclusion.   We are already very high price, when people ask when is the bounce - this is it.
Price cant always be making new highs, now it goes sideways but my conclusion is down as it appears to be more profit taking then a steady rising set of lows.

There is no assurance but even if the whales hold majority of the supply of bitcoin, they can also allow for the market to have a new bull run again, the last time there was a bull run, whales were already in the market doing the usual thing they do, so just always be bullish because we just came from a long bearish market and it's about to change soon.

You have yourself a bounce right now I think, for the weekend you should enjoy it.   Im more cautious on Sunday night open then but I think we positive till then.

Very short 5 min bars -



bullish above 10,200

That has been the trend that I'm seeing so far, when BTC rises, it normally rises high and it's followed by a big correction also, but what made me appreciate bitcoin is that it has increase this year so far, so regardless of the pump an dump which is normal, it's better if we will look on it's general movement which I believe is uptrend so far this year.

I'm not comparing Bitcoin to tulips here. I'm just referring to 2011, 2013, and 2017 as "bubbles." You may not like it, but if Bitcoin retains its long term bullish trend, there will definitely be more of these bubble cycles. It's just a question of when: 2019 vs. 2021, etc.

It's an extremely illiquid asset prone to massive speculation. Let's say both retail and Wall Street are accumulating. Heck, maybe even governments will someday, as with gold. What do you think that would do to price? A slow and steady uptrend?

Good guess, the blue line is where immediately I'd drawn to pay most attention because I'd think the market will also return to where it has most often previously visited.      Anywhere with alot of prices ending their highest peak or bouncing many times as if they found firm ground, that a lay line or an area of significance that markets tend to forget.   Volume exists there and maybe even actual old orders to buy and sell.


Bubbles are not good, they pop and then its likely gone.   BTC I would like to stay around for years, the price now is really a distant worry when we consider the long game.    Dont worry about the price this year, its already done well enough.

There's a bunch of lines on that chart so which one? $7,570?

If so, I'd agree that's a pretty important level. Losing $7,500 means breaking the parabolic structure of the bull trend. Not necessarily the end of the world, but it would probably kill any hopes that we're entering a bubble this year.

We saw that with a help of technical analysis though its pretty fast to dump we should still not panic because the best price will still come. If you look at the market with bitcoin it is still strong at a cheaper price again its good to hold. Profit taking will dump the market but it can’t kill any trend right now with bitcoin.

but XRP lets you do all those things like having a wallet and storing your private keys on your own because they want to pretend that they are decentralized. if you check out their statements it is always in the same manner. you can also run its wallet and stake it. it is proof of stake afterall.

but Libra is not like that, they are not hiding their centralization and they won't let anybody near the "blockchain". it will be a private ledger for them which means you won't be able to actually have a "wallet" and if you store your private keys it would be like storing your facebook password on your own! which is why i consider it similar to PayPal.

Why do you think so? During the 2016-2017 bull market, most corrections lasted 1-2 months. The longest was less than 3 months long. So 4-5 months is reasonable (actually conservative) by those standards.

If the current trend is continuing and every attempt to reach higher fails, which so far seems to be the case, the best short term scenario will be a near $11k wick, but I'm pretty sure it will be sold down within a day or two.

I have seen some theories where people see a major bull flag play out as we speak, but similarly, I can draw a descending triangle that's playing out as we speak to counter that.


I like Pomp's enthusiasm, but he is a non-stop perma bull who even during a bear market repeats his bullish statements. I prefer to take his statements with a grain of salt in order to not be biased and sucked into a bear market like a sheep.

I was very conservative before we broke the $6000 mark last year and it helped me a lot in terms of not being upset about how the market has taken such a massive dump. Instead, I used it as an opportunity to buy cheap coins.

the situation is not the best:



If the price does not increase much in the coming days, I speak of rising above $ 11000, so we should be prepared to see the price of $ 7000 again. People like Anthony Pompliano remain very optimistic:

ECB Money Printing Is ‘Rocket Fuel’ for Bitcoin Price, Says Pompliano

But honestly, I see the price falling in the coming days

Sometimes waiting is the right thing if the market conditions do not allow you to trade, when prices are stable with a small margin of movement, and you still have no idea where prices will go up or down, then waiting for a clear and obviious opportunity might be a good idea, better waiting for the opportunity to come rather than having to trade with a big risk behind.

just look at the time it arrives, what happens, for me not to think at the beginning of this year Btc to the level of $ 8000s. instead down....
Instead, I think BTC can go to the lowest to $ 6000 and go up to the level of $ 15000.
My advice is that you stay focused on strong principles and principles.

harmonic patterns aren't reliable until they've actually completed. it's not really a pattern at all until the XABCD has formed. i think that guy is just trying to fit the pattern so it hits his chosen support level. it's possible but i don't think it's likely. based on the 2016-17 bull market, i doubt we'll go much below the 20wma. within a couple weeks, that means the $8000s.

I think bitcoin is currently healthy in terms of prices in trade in every market,
But the circulation of prices for now tends to have to be vigilant of price movements, maybe it can go up and vice versa.
So conclusions in this month or this year, are pretty good for short-term trading, different from last March.

I think for now it hasn't entered the category of headaches, meaning normal.
Anasila graph:

Not because the price is falling it means we aren’t bull market again because that’s very frustrating in 0tt of readers
This is the effect of what Donald Trump says weeks ago and a domino effect as well
Bitcoin will surely bounce back,we have been in too many falling but this great coin continue to recover even sometimes it took long before happening

before bitcoin was already on the 10k usd levels then the btc value jump from 11kusd up to 18kusd and higher  but now we are back again at the 10kusd level   . thats what you call a bear market but i think it can also be considered as a correction  .

bitcoin sudden dump is caused by several reasons  .  that is manipulation  , people solds thier coins   ,  correction  ?   ,  and many more  . 
to the question when it will bounce again ? well idk and we dont know  but you can ask those big whales and other people if when is the time that they'l be buying again .

There's no bear market, this is more like a correction, market is not going back to the old bear market yet, it has to recover first and probably reach a new ATH before it will be back with long correction again.

There was a dump, we saw it, bitcoin fall below $10,000 but that's just at least for a day or two, and good news is we are back up again, stable at $10,000.

exactly! at times like this the best thing anybody can do is to simply stay out of the market until a breakout starts and bitcoin takes a clear direction and sticks to it. for the time being this is a sideways market with 100% unpredictable directions in a tight channel.
i wouldn't call it bearish though, we are still in the bull market but only taking a little pause and pull back which is also scaring people away for the time being.

I think the sudden dump was due to the fact that we have gone up so much that people actually wanted to cash out their profits, if they could cash out their profits then they would profit and since the price was super low just couple months ago there was a lot of people who bought from those cheap prices and wanted to sell for double and even triple of their profits which caused the price to plummet.

In order to go back up we need to have people who are willing to buy from this price again and that is the easy task because people always buy bitcoins but also we need to have people who do not want to sell at these prices and that is the tough task, if we can convince the sellers to stop then it will bounce back up again, how we will do that is a mystery because if knew it then we would do it constantly and increase the price to 100k+ already.

No one can tell you precisely what the bottom will be but since markets have a tendency to move in extreme ways I think the bottom could be close to 5k only to reach a more stable price between 6k and 8k, the dump is happening because many people have been expecting for the price of bitcoin to recover and as soon as it reached their set target they began to sell, this has also caused panic among some investors and they did the same, so the bears have taken control of the market and I do not see them losing control of it for some time.

Very trolly price action, with breakouts failing in both directions. I'm not too confident in any outcome at the moment, which means this is a no-trade zone. Time to sit back and wait for something obvious. I'm looking for a break above the $10,700 area or a break below $10,100. The structure is kind of drippy and the larger trend is down so I'm 60/40 bearish:

I'm not exactly going to disagree but a basic principle would be good currency is not diminished by the existence and current power bad currency might have.      Every product has to justify itself, find a way to do so in order to be valid.    Seems like the fight will go on for people to retain actual ownership of their own assets without forfeiting control to central bodies and ultimately debasement.



Price rises well but is on a ceiling with 8 day average.   Seems an ok place to take a stance, observe the direction for significance we find from here.   Close on a 4hr bar is confirmation I want to see if we get past blue line

People use terminology as they see fit.
Consecutive green: "bull market! moon! hodl!"
Consecutive red: "bear market! crash! gtfo!"

Get it out of the way so we can finally see the fireworks.

Nobody really knows the exact time when it can actually go up again, however the reality is we can at least hope for bitcoin going up in the near future not so far from now.

If the price goes back up and reaches to 15k in the next month than we can assume it will even go higher than that and reach 20k+ soon, however if it doesn't do that than the sad reality is we are in a stagnant market again not moving too much, we do have a volatility here in 10k-13k range and so forth but as long as it doesn't go any lower or any higher than it doesn't really worth anything to any of us. Of course it could also do sudden moves and prove us wrong but until that happens it would mean price is stuck once again. I don't like it when its stuck because the range gets closer and closer than does something super sudden that I am not prepared for.

Bear market? No. People just used to see BTC nowadays going up.

What would be the bottom? Who knows? As far as most TA's are a concern, we already have established support at $9,000+. If that will be breached next support will be $7,500 to $,8000. Then etc.

But you know don't think of it too much. We need this price dip to make rooms for another buy and to strengthen the foundation around given support established at a lower level. It's way more interesting to see first if the price bottom for a long period will be at above $10,000 and much higher. So if ever a big and hard pump will happen again, we can expect that we will end up at 5 digits as a bottom.

You should take advantage of this too.

Sort of. It seems like a perfect storm.....Libra, the massive hype around Bitcoin/crypto, the FATF travel rule. Each bubble always triggers new Congressional hearings, talk of new crypto regulations, etc. The FATF was talking about clamping down on exchanges many months (or even years) ago, long before rumors about Libra even emerged.

Now, between the recent hype around Bitcoin/crypto and Facebook's billion-strong network, there conveniently exists an "urgent need" to pass the FATF's rules.

So Facebook is about to ruin crypto 

they can use libra as an excuse to apply onerous regulations to bitcoin---clamping down on exchanges and p2p trading, for example. that would certainly be an unfortunate byproduct. and it seems to be what's happening. it's almost like a conspiracy to exploit the public's current animus towards facebook to shove harsh regulations down our throat.

I guess that's the price for free P2P transactions on a massive network like Facebook. As we've seen with their social network product, people are probably willing to pay that price. Especially people who are paying obscene fees to remit money across borders.

Libra is a shitcoin that will give Facebook even more insight into your private lives and spending habbits.

Facebook is like a slave boat to the new world.

Because of twitter of the president of the USA and pressure from governments and politicians, particularly from the US congress, I believe people have been afraid that US governments will decide to ban bitcoin, something that seems to be unlikely because regulators and politicians are well aware of separating Libra from bitcoin

Libra Is Like Sending a Friend Request to Terrorists, Politician Says


I believe it is still very risky to invest in altcoins. as I said in a past post, buy altcoins if you want to do short term trading, but always use the Stop-Loss


he is back at $10500

LOL.  I had to check the price of bitcoin right now, and it looks like it just popped above $10k again. 

There's no way anyone can call a "bottom" right now, because bitcoin looks like it's on its way up, and there's no telling where it'll stop this time.  Judging from the number of threads I've seen in Currency Exchange looking to buy bitcoin (including mine), people looked at the dip as an opportunity to buy in again--and I think that was a smart move.

There's some momentum here, and I don't think it's going to instantly go away.  This isn't to say we're not going to get dips and corrections, because we are, but the overall trend is positive (and I'm no technical analyst by any means).  The real question is where the top is going to be, but there's no way of determining that either.

I'd give the man a merit if I had any left, Libra is not going to be anywhere close to a proper crypto currency.  It'll be of some interest from its basket of currencies and diverse population, it could even have an effect on wider finance.   I dont think its going to be that important to crypto exactly, maybe in perceptions.

We seem to be a long way from talking about BTC finding a bottom price, Libra is not the reason for BTC price direction.   Surely its not just jumping off headlines.


yea BTC has turned around just here.   The most important factor I can see easily is the 50 day moving average, thats around 10,000.   We keep that and its a positive development vs recent falls.
I'll name some levels to measure its progress in this recovery by



So the blue line is just 2 day average but the yellow line is the 8 day and I count that as far more indicative of a positive phase to BTC pricing medium term.   If we recover $10,800 and confirm above that on a 4hr bar BTC has done well.
On the left of the chart, 11,000 is the previous top and old daily trend now at 11,200 and that would again be another important rung on the ladder to say BTC is stable and likely to keep rising again medium term.

Right now maybe they can stop it, but i doubt it, Libra association will push this no matter what, too much money at stake.

And once the project is open sourced and decentralized governments and regulators can't do jack against it, just like Bitcoin, exactly like it, except with a significant user base.

Libra is similar to what XRP is today, but then even more centralized. You will have your private keys, and you will be able to store your funds offline. PayPal does not offer you that in any shape or form. That's where Libra and financial institutions such as PayPal differ on a fundamental level.

As far as being linked to Bitcoin goes, that will happen through crypto exchanges where they already offer support for USDC, USDT, PAX, etc. Libra will be the next one to enter the list of stablecoins. It will help prop up Bitcoin's price and make sure capital stays within the system just like how capital in the aforementioned stablecoins stays within the system.

What your seeing right now is just some normal movement of the price of Bitcoins, we are seeing like this because some investors are cannot hold their horses anymore that they have enough of waiting. they sell their coins at the price they think it is high enough to earn from their investment.

And when the price will go down there will be some investors that will buy again and there will be a lot of them so you will see the price will bounce back again at any moment after it's gone down.

then it will go like that again and again unless there will be a big whale dumping then you gonna see a hard to recover situation like we witness last year's drought.

When it on downtrend, it's your time to start invest.
And try to hold it afterward, usually more than a month as I have prove it.
I'm seldom stress on crypto investment because I think for a longterm so I hold it as long as possible

Are you ?

I think someone has provided a good TA explanation and want could be the potential support and resistance level. But a dip doesn't mean that we are in a bear market, just to let you know.


Obviously, you are a beginner and it seems to haven't seen the roller coaster ride specially from the last bull run in 2017 up to this time. There are a lot of factors like FUD news around, the negative effect of President Trump's tweet, Japanese  exchange reported hacked and then US law makers stance on Libra.


Of course just like any market out there, a bounce is imminent in crypto. But it will take time so let the market flow on it's natural course.

Lawl.

Which people? Kwukkie and Zukkie?

Governments all around the world are leery of Libra and they can actually do something about it.

They can't do squat about Bitcoin and they know it.

No contest. Try again.

i seriously doubt that there would be any difference between Libra and PayPal. in my view they are exactly the same thing and people (the end users) don't care or even notice what the underlying technology is, whether it is a simple database (aka PayPal) or a blockchain (aka Libra) in the end they will be having an account linked to their identity on a website controlled by a company that acts as their "online bank".
and i don't think they are going to put any kind of links between their coin and bitcoin, their website, their paper,... don't even mention bitcoin. not to mention that it will be centralized.

Obviously yes, bitcoin always bounce back even it's dump many times, you should do your research so you will not panic.
There are a lot of reason why bitcoin is some, some are cashing out and maybe the statement of Trump really hurt Bitcoin, but like I said it will bounce back.

Now, the question is, how can you benefit on the situation?
The simple answer is you buy because it dip, and enjoy your profit in a short term as it will surely bounce soon, guess it started already. 

If it works similarly to how for example the stablecoins we have here work, it's actually quite an improvement over the services offered by financial institutions such as PayPal.

Don't forget that PayPal is a safe haven for scammers with how their bias always leans towards the buyer. I'm certain Libra in working condition would greatly exceed the workings of PayPal & Co. PayPal is shit all the way through. It costs me like $4 to send a sub $50 sum of money to someone in another country. Libra will demolish this house of cards. I welcome it.

Also, Libra is an amazing tool if it's paired against Bitcoin because that means a new stream of liquidity finding its way to Bitcoin.

Really? They know better? Oooh so that's why people are invested in all these centralized shitcoins. No they don't know better, they are just greedy and hope to make a quick buck and care little for the tech.
Libra starts centralized but will be fully decentralized after 5 years.


Why would i use existing services that charge hefty fees when i can use Libra with extremely small or no fees?


People don't need a speculative vehicle, they need access to a money system to participate in the economy.


Maybe, even if a fraction of the people will use it, it will still be a bigger user base than all of current crypto together.

Who exactly wants Libra?

Crypto enthusiasts know better than to trust a centralized coin coming from a company with very questionable privacy practices.

The mainstream could continue paying with Paypal and credit cards since it's all the same anyway. This way, they won't even need to pre-convert any money to Libra.

Lastly, since it's a stablecoin, it's closed off to speculators. You could argue that it might be able to replace Tether or some other stablecoins, but a lot of people use those to dodge regulatory mess that comes with trading fiat, which also comes with trading Libra.

Just because Facebook is used by billions of people doesn't mean they'll use whatever product Facebook comes up with, and the same is true with Libra.

That is a tremendous change which truly occured of late, and after looking to a market capacity we're at higher ricochets however immense possiblity to draw back. Whales can complete an astonishing procedures which could make bitcoin price beneficial, however we can't be certain enough that the worth can support longer.

What are you babbling about? Bitcoin in no way is in another bear market, and I think that is the consensus of the majority of traders at the moment.

If we're talking about root causes, people have attributed this downturn to Libra, Trump's comments, a bunch of things that I don't think are necessarily the reason why this correction happened at all. Sure, they may have influenced in terms of kickstarting the process, or worsening the losses, but really if you look at it from a macro perspective, this part of the cycle within the bull market would have come sooner or later.

This is a bear trap. In my opinion, it is still apparent that institutional investors are definitely interested, and that retail investment interest from the mainstream has not even started yet. The bull market still has a long way to go. While it may take quite a while to breach the resistance at $10k again and we may see further dips in the process, it's the complete opposite of doom and gloom to me. It's an excellent buying opportunity, for dollar cost averaging.

you can't "fully decentralize" a network where the token is centrally backed with custodied assets. libra is backed by a basket of assets like fiat currencies. what happens if those assets collapse in value? what happens if powerful governments like the USA shut them down or freeze their bank accounts?

not to mention that KYC is required from the get-go for every user. full AML controls. your account can be frozen or transactions reversed because there's only a few dozen validators on a permissioned network. how else do you expect them to comply with the USA nanny state laws? fully decentralized my ass!

Not just a dump. This is because of Libra.
It is the beginning of the end.

Sure, Bitcoin will muddle on for a while, going lower and lower.

Big investors realize that Libra is the future of cryptocurrency, not Bitcoin.

Many here will scream "But Libra is not a real cryptocurrency.".

That may be true at the bootstrapping phase, but they have promised and pledged to open source and fully decentralize the network once it is running after five years.

Libra will be instantly available to 2 billion people around the globe, let that sink in for a minute! Bitcoin couldn't even dream to reach 0.01% of that!

Bitcoin will be totally obliterated and irrelevant in every aspect.

Libra is what people want, not Bitcoin.

In Bitcoin terms this is quite a small pullback.  It rose alot and naturally some were only in the price for the fair weather and depart as soon as it looks be more challenging.   Its not really what I would label Bear market just yet.

I'm only especially bearish at this point if we go past 6000 and its not providing support at all.  Thats a long way from here, just profit taking so far.

Just so you know, you're employing technical analysis right now. Horizontal support/resistance levels are crucial to TA.

$8,300 was actually a daily pivot on the way up. There was a month-long consolidation in that range, so it would make sense to find support in the $7,500-$8,300 range, if not at $8,300 itself.

S/R is not the only thing to look at, however. If we look at historic charts, the 100-day and 20-week moving averages have often served as bottom areas during uptrends. The 100-day = $8,100 and rising; the 20-week is at $7,250 and rising.

Then we can look at time and magnitude. A typical bull market correction during 2016-2017 took anywhere from 1-5 months and ranged from a 30-40% drop. We've already seen a 35% drop or so. A 40% drop would be ~$8,300. By the time another month or two have passed, our MA supports will be rising to the lower bound of expected downside.

I prefer reading historical resistance levels more than relying on technical analysis.
Historically, there are no stability levels at $ 8000 when we fall below $ 9000 and therefore if the price continues to fall we will see $ 7,500 range soon.
So far there are no reasons for further collapse and therefore I do not expect to fall below $ 9000. If there is no bad news, we may return to ($ 9800 to $ 10,200 range.)

Price nearly doubled in less than 3 weeks, that's what happened!

You call it a bear market, I call it a standard pullback in a bull market. This sort of volatility is nothing new. We've dropped 33.5% from the top so far. Dropping 35-40% would be typical.

Another big bounce is probably coming soon but I doubt it's the end quite yet.

That is good advice you have given and buying when bitcoin is low and selling when it is high is always the right thing to do if you really desired to make money from this cryptocurrency market. I don't think that many of us really spend time to look at some price action indicators such as candlestick and some moving average crossing! If you watch very well you will find out that buying pressure has been reducing since bitcoin got to $14k and the up and down we were seeing before this major dump was due to activities of day traders and day traders cannot sustain consistent grown in pricing!

soon it will bounce again

Bitcoin will bounce again, at least now bitcoin price is on the way to increase.
We could hope in this week will be the lowest price of bitcoin, and if in the next month the price is down again, the price will not touch below than $10k again because that will make some people to panic.
I think this is happening because of many people are panic and that makes them selling their bitcoin without think that is no need to worry.

Looking for the market to reach bottom is a method unprofessional traders to miss an opportunity to buy low and hold pending when it will appreciate again which I strongly believe it will happen in the couple weeks to come.

drop is not equal to bear market. drop can be anything from a simple correction to panic sell and even bear traps. this here looks more like a bear trap to me since the market trend is still pretty bullish.
as for TA, it doesn't really work for bitcoin specially on this types of actions in short term.

no, because every time bitcoin price drops, altcoins follow it even harder down. and as you can see in the market majority of altcoins are being slaughtered right now.
the "hype" in altcoins that you are looking for only comes when bitcoin price stabilizes.

why not! do you see anything changed in bitcoin to suggest the adoption has stopped?

Could be, that's how markets behave. But i find it healthy, because it was going up too quick too fast, the correction some people claimed wouldn't ever come is actually occurring. This could be one of the last ones before the halving, or maybe there is time for another one. Indeed traders are going to be very happy.

We need more Tom Lee. Paging Tom Lee, what is your location? Holders of bitcoin need bull comfort and assurances hehehe.



Current Bitcoin Pullback is Healthy, Says Tom Lee

It’s healthy to see #bitcoin pullback here.

As for the search traffic for bitcoin being low, I also think that is a good sign. It means the rise in bitcoin has not been accompanied by massive hype.

Source https://www.cryptoglobe.com/latest/2019/07/current-bitcoin-pullback-is-healthy-says-tom-lee/

Well am very surprised on seeing the recent decline in the market value of bitcoin still yet to ascertain what exactly led to the sudden decline today. Could it be the effect of bad comments by the United States of America President.

More traders looking at when it reaches bottom to buy, i wonder how low it will get? The Trump effect? Lol.

Just remember this:

Halving IS coming... (2020).

It will reach $7-8k soon so there's no need to panic or sell bitcoins and even there's no particular reason for the bear-bill market. Altcoins also are suffering as ETH price dropped too so instead of buying bitcoins now, it's better to wait for 2-3 days when it reaches below 8k and then hold. I don't think it would be stable in the coming 2 weeks as well.

Why not take it as an opportunity to buy more while it is being dump?
There is no need to panic it would surely recover soon and maybe go way more higher than before.
There are some people who would complain when they miss the ride but when the opportunity is right in front of them they wouldn't grab it.

I believe that this is still the impact of president Trumps stands against bitcoin and libra coin of Facebook.and maybe this has been used by the whales to manipulate the market since there are reason to dump the market..

But just like what @Royse777 says,better use this as an opportunity to buy again so when the value pumped profit will surely in your pocket

May day! May day!!
Bitcoins down!!! Bitcoins down!!!

LOL kidding.

Truth is, this is how the market works. It's the part of the process. Just HODL your Bitcoin.

In the mean time if you have money then just use this time and buy more. There are a lot of people who missed the boat to buy when it went to $14k perhaps you are getting another chance to buy more.

Bitcoin facing another bear market suddenly...what would be the bottom price of btc, Is there is any technical analysis to find?

Why sudden dump happens to bitcoin. Due to this btc dump is there is any possibilities to see hyip in Alt coins.

Is bitcoin bounce again?