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Which occurrences determine the price of Bitcoin? Why is that pressure on the price of Bitcoin? What is the reason for the huge drop in the price of Bitcoin? Why is the correction such excessive? Let’s have a look on the two main influencing variables. Criminal activities in the milieu of Bitcoin. Governments worldwide seized Bitcoins worth more than 3.8 billion USD . They started to sell this huge quantity of coins, which makes a huge pressure on the Bitcoin’s market value. The calm before the storm. Like on any other cryptocurrency with a fixed number of coins, there exists a relation between the number of Bitcoin users and the price of the Bitcoin. As the price of a coin increases with a growing number of users, a cryptocurrency has no inflation on the long term. With a fast growing community, the price of the Bitcoin knew only one way: up, up and up like a rocket. However, things are changing to the bad right now. For several reasons, the number of Bitcoin users will rapidly shrink on the short and middle term. Because of the relation between the number of users and the price of the coin, we will see a fast drop in the price of the Bitcoin and it will not recover from the low price on the short term. Please read the full, very detailed story here: achieve-your-goal.com Technical analysis After a sharp drop from 17174 down to 9005, the price is consolidating right now. The consolidation range may go up to the red dashed line at 12787. Above that line, a lovely bullish scenario of riches and wealth is waiting. However, will the price of Bitcoin achieve to regain the bull-trend and go towards 22500 and 24000? It is more likely that Bitcoin fails to break that red dashed line and remains in the bear-trend. If this is the case, after testing the level of 12787, a sharp drop in the price down to 5568 will follow. I personally think that it is a good idea to sell Bitcoins during this current consolidation phase and avoiding a huge loss. Disclaimer I sold all my Bitcoins and I will rebuy them once the price of the Bitcoin will be below 6000. I publish my personal opinion and not a trading recommendation. It may be that I change my mind without an announcement. Everybody has to take his own decisions and is responsible himself for his trades.
COINBASE:BTCUSDShort
by luckyhelper
1
Key reasons for another drop in the price of the Bitcoin.No transaction fees, enabling micro-payments and micro-donations is what made Bitcoin so popular. Bitcoin is an electronic crypto-currency not tied to any financial institution, which enables you to make international transactions outside of the banking system. Some big chain of stores are thinking about accepting Bitcoins on the checkout. These are the main reasons, why the price of the Bitcoin skyrocket. As the maximum number of coins is specified, the price of the Bitcoin has to rise the more people make use of it. However, during the last months, Bitcoin transactions became very slow and all of a sudden, high transaction fees have to be paid. It is obvious that the Bitcoin network cannot handle anymore the high workload. It is even questionable whether Bitcoin can hold as the number one coin if it fails just in these important characteristics. Additionally, 78% of the computer power of the Bitcoin network is located in China. China wants to ban Bitcoin mining and verifying because of the high consumption of electric energy. Depending on the speed of realizing that plan of banning mining, this can temporarily lead to an additional bottleneck in the Bitcoin network. It is foreseeable that more and more people will elude Bitcoin and turn towards other coins. Once the number of people using Bitcoin will erode, the price of the Bitcoin will collapse. There are enough alternative coins available with transaction speed increasing the more people make use of them. Just to name such coins Ripple, Dash, Tech coin (coming soon) and Futurocoin (coming soon). Cryptocurrencies have a bright future. However, it is very unclear if Bitcoin is one of them. There are enough key reasons for another drop in the price of the Bitcoin. Up or down? The decision will be made in these days. Technical analysis. The big picture are two triangles. The major, dark triangle lets us expect an outbreak to the upside at point 5. However, there is also a minor, light-grey triangle and the price of the Bitcoin did just outbreak on its downside at point v. It will test the downside of the major triangle again. Any price below the red line at 12787 will turn the overall scenario into bearish. Should the bearish scenario be confirmed, the price might drop as far as 5568.
COINBASE:BTCUSD
by luckyhelper
Daddy Bitcoin is nervous! My thoughts, correlation and stuff. Hey guys, everyone is concerned about Bitcoin being a bubble which is about to burst the entire Cryptomarket. What we see is a neutral market on its way to decide which path we choose to go and how we deal with that "bubble". There is one important fact we need to mention before we talk about a "Crash" if Bitcoin drops under the green Nackline of the first S/H/S-Pattern we`ve created after this crazy rally caused by the drop down to 5.500,- USD. This consolidation seems to be crazy due the fact that we`ve never seen such a strong volatility in any market out there. In Fiat, a drop from 20.000,- down to 12800,- (7.200) seems like an enormous fall from down the Mount Everest. But if you take a look at the growth in % this retracement is and will be still a joke if we get through that strong support which has been tested by the market for almost 18 times. At 61,8% buyers safed Bitcoin and caused Fakeouts through this important zone. So what we basically see is still the greed by market players who missed the milktrain and still see`s potential in Bitcoin. We still have a lot of problems with Bitcoin due transaction-time, fees, and efficients. A long time could pass by until we get working solutions like "Lightning network" that could fix those issues. 1. What is the market going to do? Hold, wait and hope? 2. Try to find alternatives? (Traditional market is freaking out) 3. Drop until 8000,- USD and consolidate? There is one !BIG PROBLEM! I see related to this stupid correlation we have in the cryptomarket refusing to give us nice alternatives to Bitcoin. 1. Bitcoin climbs -> Alt falls 2. Bitcoin drops -> Alt falls 3. Bitcoin consolidates -> Alt climbs Statement: If Daddy Bitcoin is calm and relaxed he allows his kids to play. How can we explain that correlation? Let me share my thoughts. Statement 1: Bitcoin climbs Since Bitcoin is the "oldtimer" of the cryptoworld, daddys grwoth was almost ridiculous. Bitcoins hype caused by the media and those "Bitcoin millionars" promoting strategies and promises on the internet baites verdant privat investor. I`ve been talking to ppl in my neighbourhood who`ve never heared about "ALTCOINS" but got Bitcoins instead. Bitcoin is THE most important base currency to buy Altcoins. So, if the market is invested in Altcoins it means they were seeling BTC for ALT. If Bitcoin starts to climb, people see the potential of big stupid "forecasted" and pushed Goals like "60.000,-" - "100.000,-" until the end of the year. Result = Sell ALT, BUY BTC. Statement 2: Bitcoin drops We were talking about Bitcoin being the daddy of the cryptoworld and BTC as the important base or primary currency of the cryptomarket. Logically the Altcoin-market should grow when Bitcoin falls, due the fact that they SELL BTC and buy ALTs, right? What I see is that the market defines "Daddy Bitcoin" as the entire Cryptomarket. Means, if Bitcoin drops -> The entire market is dead, because his kids are not big enough yet to stand on their own feet. Bitcoin Drops -> Doubt in Cryptomarket -> Exchangen BTC and ALTs into Fiat. Statement 3. If daddy Bitcoin is relaxed going outside sitting on a bench reading his Newspaper he lets his Kids "abusing" the playground. Market players see that Bitcoin is stable but not lucrative in a phase of a sideway trend. So they use this chance to increase the amount of BTC in their wallets and trade ALTcoins instead as long as the rally takes a break. They see the potential in ALTs and wanna raise more money. Sell BTC -> Buy ALTS BTC Drops -> New Buyers in BTC Isn`t that risky AF? Am I wrong? Please explain this correlation if it`s wrong. I guess there is wway mroe facts we need to include into this analyse like miners, news etc. But wht I see is a lot of panic, greed and inexperienced traders out there. Which path to we choose for daddy? Back to stockmarket? Peace and good trades
BITSTAMP:BTCUSD
by Trading2ez
2
IMPORTANT! Death Of BCH!!!Burn scamcoin!!! Coinbase should be a shame of themselves especially after being on CNBC over and over last week touting how professional they are and want to be the NASDAQ of cryptos. My message: In my humble opinioin "THIS WAS UNACCEPTABLE AND DOWNRIGHT CRIMINAL! In any regulated environment the SEC' would be at the door this morning! They lacked professionalism, preparedness, and were criminal using the market to profit from their foreknowledge (in my opinion). There needs to be an investigation period! This hurts the space as a whole; we expect it from others not from you! How the release should have been done. 1) The announcment should have been done on CNBC and several other news agency AHEAD OF TIME! 2) The first day or so there should have been NO TRADING with wallets only to be used for access into not out of! 3) The first day of trading should be monitored with circuits ready 4) Be prepared to act not react! Coinbase COO Asiff Hirji should be fired!
BITSTAMP:BCHUSD
by MrSmith007
7
BTC 1 month chart prediction, multiple reasons/argumentsBTC will is creating a Shoulder-Head-shoulder patern. On mid-long term BTC will follow this trendline in my opinion. Multiple reasons are listed for bullruns and drops. Some of these reasons are the listing on the stockexchange (18dec) and the new "weak hands" it will bring allong. Also worth mentioning is the fact that people are getting a christmas bonus. Some people will use it to buy the new "trendy" bitcoin. Keep in mind that this also happend with gold and silver after they got mentioned on TV. After this "Dip" BTC will rise again, I don't expect a real crash, just a small correction after the 1700% gain this year. For long term investors (+2-3 months hodler's) there is nothing to worry about, just buy some more in the dip if you want to triple that money in a few months.
COINBASE:BTCUSD
by Sellingdignity4btc
1
AUDJPY will drop offEsto es lo que estoy esperando en AUDJPY; la formación de la onda C, y la caída hasta el -27% de Fibonacci. Colocaré un Sell Limit en el nivel de 38,2%, y un Stop en el 61,8%. Todavía falta por ver esta semana, para dónde se mueve el precio. ----------- That's what I'm waiting for in AUDJPY; the C wave formation, and the fall until -27% Fibonacci. I'll set a Sell Limit order in 38,2%, and a Stop Loss in 61,8%. I'll see this week where the price is going.
by losada15
Possible targets for USDJPY Dec' 2017After seeing increasing selling power on CHFJPY early November I researched the source and discovered that all major currencies were working something out, similar to one year before. Quite quickly it became clear that a similar series of event would take place in the next 4 to 8 weeks. The currency pair USDJPY seems to be leading the series of events by moving first. Last year the US Dollar lost substantial value against the Japanese Yen and all correlating currencies were affected. Lots of opportunities to milk the market. This year started with similar drops. Each drop is also pre-ambled by what seems to be an algo stop hunt. See my previous idea on this subject. Not all of the drops have stop hunts but I may have overlooked a few because they are not always as obvious and they often cause the price to rally just after having dipped just under a support level . Then a unexpected trend reversal on November 27 UTC. The following drop of December 1 UTC was within 6 hours reset to projected level up from where it dropped, only to rise higher to 112.8 and then 113.6. I expected 112.8 to be the maximum value for the price to climb back to but it surprised me with 113.6. With this new information I came up with 4 possible outcomes; 1) The price continues to rally to hits resistance at 114 with a chance of breaking through to continue to rally to heaven. 2) The price continues to follow its underlying trend and hits support at 106. 3) The price continues to follow its underlying trend and increasing selling power pulls the trend down towards support at 103. 4) A price crash is caused due to increasing selling power. Buyers abandon only for the price to then snowball down and break all support levels up to 98.
Short
by Deep-Peat-Shark
4
USDJPY DROPThe bias of the bearish momentum is now back in motion. I have plotted all you need to know on the chart. head and shoulders. broken through a previous support region. I recommend you [ b]hawk the 4 hour chart and wait for a strong reversal candle once the price action reaches the baby blue ray i have plotted as that is what i will be doing . Don't let greed consume you. Make sure to trail stop and change it often reasonably. Watch out for any trend reversals, fib retracements etc.
Short
by samirtoro
DAX testing support zoneFor the last few days we are observing on DAX a strong fall without correction. On session in November 13th price has touch support level and bounced up for near 150 points and drew bullish pinbar, but this didn't stop further price dropping. Today price has tested once again support level and went lower where buyers came out. This could beclassic hunt for stop loss characteristic for DAX. Question is if big players bought there? If yes, than we could see on the next sesssions defense of this level. This could be a good opportunity to open buy order. Looking for a bullish pin bar of November 13th which was negated we will wait for more signals to buy. If support zone at 12900-12960 will not be defended, price could drop at least to 12500 - 12300.
OANDA:DE30EUR
by investsoft