Bitcoin Forum

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

it will crash to $5200


you also used to compare the "situation" with 2014 back when price reached $1250 and was rising...

Those graphs are meaningless.

Bitcoin isn't some stock to be predicted by "technical" analysis or other pseudoscience. The steep rise since August 1 is due to the resolution of the scaling crisis and renewed confidence.

It also didn't go from $5000 to $4800. It had a small correction from $4979 to $4824 after rising by more than $300 in a single day and over $800 in 4 days (Bitstamp).

There is no reason for the price to crash. If anything, this correction proves that it is not in a bubble and it's reasonable to expect it to continue rising in price.
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I think it's time to bring back newbie jail. The influx of noob trolls is getting ridiculous.

When I went to sleep, BTC was $5000.
When I woke up, BTC was $4850.
Right now it's at $4790.

Data from CoinMarketCap.

coinmarketcap is an average price between a lot of different pairs, some of them even much higher and some much lower than real price. it even has altcoins among them for a bitcoin price!!
https://coinmarketcap.com/currencies/bitcoin/#markets
for example it has LTC/BTC and is reporting the $6440 for it
and it has BTM/BTC and is reporting $776 for it. what you see is the average of all these!!!

even if that is your source, the numbers you are quoting is just a 4% correction!

I agree with your thoughts that there is no reason whatsoever for the bitcoin to fall back on. Even if its falling price will not be so big $300 to $500 only and I'm sure bitcoin will soon go to the moon and in a few weeks it will be $5000 or more.

$4699....   ::)

A far cry from $3800 or $2600. Just a tiny correction.

Not sure, i think that currently we are already experiencing the first of the dumps.

It really depends on whether bitcoin is able to recover from the current dump, or not. If it can recover then i would say we'll actually go above $5k and stay there. But if not then I think we'll be headed to at least $4k or even more by the end of next week.

I think the low for today will be around $4500, before bouncing back up. Again it depends on whether it can break $5k, or whether further corrections come. If the latter then we are heading to sub $4k.

Personally i think it is a pretty accurate analysis, however i think that we will see even more growth soon. Just because people are just going crazy right now and not caring about logical thinking. In the short term, aka next week we could see something like $5200, $5300, but after that there will be a huge dump.

I wouldn't say that it will go down to $2500 but i think at least $3500 or lower.

Whenever there is hype and bubbles, there will always be a dump. It's just that we can't predict how low and when it's going to happen.

Oh the humanity! ;D

Short term I guess BTC will be trapped between USD 5k and USD 4.5k. Should we experience a larger drop I don't expect it to go below USD 4k.

Long term, should BTC turn into a mania that causes it to crash down heavily or fall into a prolonged bear market, I'd say the bottom could be USD 2.8k, but short of a catastrophic event I don't see BTC dropping much further than that.

Well guys, is it still a correction?  ;D

yep

As mentioned the price is fluctuating within certain limits and today it went near to $5000. The price have been gaining resistance for a perfect growth with corrections taking place at certain time interval. Based on these facts I believe that the price won't go low to $4000 in the short.

2200

Still a correction?  ;D

Yes - it's only a 5% move. Ir's not a crash until it's a 15% move down.

A healthy correction would end around 1000-1500 USD.

But it is extremely unlikely the panic will stop there with the November hardfork around the corner.
With over 90% miner support Core coin is likely to stop functioning alltogether, effectively dropping the price to exactly zero at the moment of the hardfork. Of course the new Bitcoin will also gain instant value but i doubt it will be anywhere near the Core coin value, maybe a 200-600 USD level like BCH is realistic.
Overall it's safe to conclude that the upcoming months will result in a ~90% value loss in regards to Core coin / SW2x.
I suspect altcoins will do the same, maybe some value will move to altcoins, resulting in less loss, but i think the vast vast majority will be dumped for fiat.

As for the people crying about losing their money the past day...
I hate to say I told you so...

I don't think that the price will crash over the days/weeks to come. This is all because of the the growth happening based on the natural growth happening with the bitcoin. By the falling weeks the price correction might happen causing the price to go above $5000 and sustain for a long time gaining resistance.

Even if the price turns out to decrease with 15% from current levels it can't really be seen as a crash. In my book, a crash would be when we see the price decrease with a minimum of 25% in value.

We simply shouldn't discard the fact that even though the sentiment is hovering at record highs, the market was severely overbought, and for that reason people were expecting a correction to happen.

From here we'll find out how strong the support for the $4000 mark is in the coming days. It will be a great moment to buy back for those cashed out profits, or a great moment to enter the ship for the waiters.

Bitcoin's growth really does seem to be much more natural and healthier this time around. I think for an actual crash to happen (> 40%) Bitcoin first needs to turn into a full on mania. People are way to level-headed right now. This doesn't mean that we won't see any further corrections though.



So everything's going to be alright is what you're saying... perfect, thank you for your analysis, kwuk!

When I look at the charts from today and yesterday, I think we have a bigger support at the level of about 4300 dollars.
So my prediction would be that there is the bottom for the movement we see at the moment.
For the next week I suppose bitcoin may try another attempt to reach the 5K level and stay above it.

Thank you for the analysis, So If I understand correctly the bottom line is that we entered bear market territory and it should last at least until the November hardfork ? time to start shorting is that what you say ?

$3999 and bounce back. The real question is what's going to happen in November.

Well yes. Even without the November fork, one look at the charts will tell you that.

Where near $5000 and indeed is a psychological barrier. Many early investor started selling, making some nice profit. Makes me wonder if this will turn into FUD and the price will continue to fall...

I say 2800 -  3500.

https://www.tradingview.com/chart/BTCUSD/WL8Kmptk-mid-term-consolidation-could-be-in/

It's going to tread water for a few days till the next difficulty adjustment, which should kick in 4 days time. It should adjust the difficulty upwards - whether this means the miners still to it or decamp to BCH causing backlogs in the mempool is anyone's guess. But we're still in a very unstable period where no-one knows which chain will prevail.

the price of the bitcoin currently in following Sunday's start will be decreased to reach $4400, but the previous week had already reached $4800 so approaching the numbers $5000 then many investors who still hold or sell in a way to get a huge profit but this is really beyond our predictions I expect bitcoin will continue to come up.

I wouldn't call this a crash, maybe it's just a regular downswing that we have been experiencing these past few weeks. But most probably just a correction, the price of bitcoin went very high in a short time, so it's only normal that this occurs. Though whatever happen, don't spread fud.

correction is just ongoing and yes miners are turning to bitcoin cash and we can feel their action but once bitcoin pumped again they will simply go back
which is for miner profits are always first before thinking which direction they will go and what chain they will support.

This is not a crash just the price correction and it will bounce back soon. I would also say that this was expected after so fast and so high price pump but nothing to worry about and definetely no reason for panic selling, a normal part of Bitcoin volatility. Maybe some have expected that we will cross 5000$ and continue heading to 6000$ or more so that is the reason why they call it a crash.

There are two ways for the price of Bitcoin in next week:
1. Bitcoin just corretion of price and comeback like earlier in August -> Breakout $5,000 and continue bullish trend
2. Bitcoin ended cycle bullish and change to new cycle, but I cannot predict exact this way because we have two option for take profit, first is USD and second is altcoin.

One thing that matters for this month (my opinion) is that people have lots of projects, going back to school/work, migrate to other countries and so on, for this is known the September and people may spend their funds in other things but bitcoin. So we might see a slightly drop of the cryptocurrencies price, but I believe that the price will get back and go to 5k in the next few months.

but still bitcoin do not have to stay here for a long time, but will continue increasing after saying here for a while while the early investors will sell their coins for booking profit while the other will try to get bitcoin even at that price and will be thinking about long term investment, where they are expecting to get good profit after some years.

The zone between $3700 and $4000 will be very strong support in case of a dump. This region is intense and this is important not to let bitcoin go more down. I believe that support line between $3700 and $4000, will work when the time comes.

I dont think the price is gonna crash so much. Probably it will go down for at least $400 more. It is at $4600 right now, maybe it will hit $4200 each bitcoin but i dont think that is going to happen.
But going down to $2400 are you serious? that is more than 50% of actual value, not possible right now...
I think everybody has the opportunity to buy more bitcoins right now, or maybe altcoins that they are cheap too.

$1000 I hope, so I can buy three.

i think that currently the price of bitcoin is trading so strong therefore there are no chances that bitcoin price will fell down any more. because it i has a very strong support at 4000$ and therefore we are expecting that the price will now start recovering and will very soon recover its previous position and will even continue to increase more and more.

At least we should buy the bitcoin at $4500 and that can be consider as the bottom of the bitcoin price. as far as i understand if the price of the bitcoin will fall again. But it will above $5000 before the next fork such as segwit 2x will be happening in this month.

No one knows where price will land in coming days but as price is going bit low now we can expect that it can go below $4500 in coming days and I think that would be really a good price to invest money in bitcoins as price will surely touch $5k by the end of the year or even before that.

Something people seem to be ignoring here.
BCH is gaining mining power and value everyday but the Core coiners were already celebrating their illusionary victory right from the start of the fork. BCH is guaranteed to be at least as valuable as Core coin.

Is it still a correction because of weekend?  ???

Somehow we passed that 4800$, where acording to you it should bounce back... .  ;D

How far are you with building that jail for newbies like me, who are posting here stupid analysis about BTC going down and predicting it 3 days ago?  ::)

I thought that the price was actually going to continue to go up and the bubble is going to continue to grow in the next few weeks, but since the Chinese government thought otherwise i have revised my prediction.

I think that short term wise, we will hit $4000. The price should rebound up to around $4500 though before strong resistance that drives it down, through the $4000 floor potentially. We could even retest $5000 but i don't think we will break it, everything is bearish right now.


Nope. China just banned ICOs.

Bitcoin has shown it's resilient over the years. If you think bitcoin is crashing; you are dead wrong!

Agree with you pal. If you are into bitcoin for almost a year or more that is not crashing it is only a dumps and not dumps a lot because that is not big, for me i am not affected about the dumps of bitcoin because it is only little and sort of i cant really feel it only the pumps because it is getting bigger! You are just in panic when the price drops. dude that is not crash

This is just normal I think and we should be use to this because its a currency.
Pumps and dumps are just in the corner so expect it anytime.
For now just hold it and wait for a good pump as this is always happens.

Lol and here we go again. Core coiners flipping from delusion in denial. Losing almost $800 in two days and still denying it's crashing.

Good thing China banned ICOs thise were getting really toxic for the community as well.

That's right pumps and dumps will always be an part and parcel of bitcoin economy and we are used to it now so even if crashes in coming days I don't think there is anything to worry as price will recover back in future so without getting panic hold your bitcoins and wait for the price to go higher.

Stop this ridiculous nonsense. If you seriously believe that BCC has such a good future perspective, then convert all your Bitcoins and benefit from BCC's current "ultra cheap" price. After a few months, you'll see how your wonderful shitcoins will sink down to values below the 0.01BTC level. You seem to support something that even in the altcoin market is being seen as severely obsolete. No one with a proper functioning set of brains will ever put a serious amount of his coins into BCC at current levels, it just doesn't make sense. If you wait more, you'll be able to buy your beloved BCC's at sub 0.01BTC levels. That being said, why aren't you active in the BCC thread if you're that much in favor of it?

I think the massive fall in price has begun. As a part the price has fallen to a large scale of more than $500 within a days time. Along with it the entire digital currency value decline has been taking place. If the entire cryptocurrency growth is examined, each and every coin is with red indication.

I think that many stop loss orders were triggered today.
And I don't think that the guys who put up those orders are gone for good. They are just waiting a few days till the dust has settled until they rebuy at a lower price.
Maybe a few of the altcoins will suffer permanent damage. But the major ones, I think they will recover within a week.
The good thing is that bitcoin does not suffer as much as the alts.

now bitcoin is 4016 and i think taht it will go to 3XXX just in minutes..

I think it will fall around 3500$ then will slowly go back up

Actually, these catastrophic scenarios are nothing new here. There are still many people eager to see bitcoin die but that is far from happening. Yes, it is true that there seems to be no solid basis for such a high bitcoin price when more than ever its weaknesses have been exposed, but I personally do not think it will fall below $ 3000 in the worst case to resume its trend towards the $ 7000 at the end of the year.

Let bitcoin and altcoins price fall, the more reason to get more coins.
I just bought some more, it will rise soon.
By the time most of us buy some coins, it will be on the rise again like it always does, so its better to buy now than later.
Its uncertain to say it will end today or tomorrow. Its just a correction... won't last long

I agree with that 100%, the noob jail part and the worthless TA part.  Too many noobs making too much noise with too much BS.  Not this thread necessarily,  but in general.

I'm OK with this selloff.  Going to buy some bitcoin in a few days, hopefully,  and it went up way too fast.  This should be a lesson to the newcomers, about bitcoin and markets in general.   Nothing keeps going up forever.   If we drop to $2000 or even lower, I'd be cool with that.  I bought some silver with bitcoin a few days ago and definitely don't regret it now.

I think below 3200 is unlikely to drop, there is very good support. But everything can happen.

You really don't understand what is going on do you?
Whales are taking their profits from the new investors on a massive scale before sh*t really hits the fan.
The November fork will leave the entire ecosystem devastated if functional at all.
This is just the beginning of the biggest crash we've ever seen in Bitcoin land.
We are looking at a 6-15% daily down trend for the upcoming 3-6 months.
That is IF the network survives it at all.

I noticed that again bitcoin price is begin to drop and it seems settled around 4300$ now. This is why I don't believe any bump and dump by just holding the bitcoin long years. If bitcoin value again starts recovering then sure it is possible to find the bitcoin price as 5000$ very soon.