Bitcoin Forum

https://www.bloomberg.com/news/articles/2017-09-15/forget-3-000-the-bulls-may-have-lost-if-bitcoin-breaks-2-877

does that mean if we break the keyline of $2877 the bitcoin will fall even worse than the last days?
what do you guys think?

It's very much possible if the China miners (and they made up of slightly more than 70% of the pool) are chickening out and dumping their BTC as well.

As of right now, OKCoin in China trading at $2790.
So you could consider $2877 gone.

Also, two days ago the Japanese and Korean are buying creating a 20% premium in their markets when BTC started dropping.
Now the Jap and Korean are also selling, leaving the West to defend the front alone.

Okcoin and Houbi are meeting up with the Chinese regulators today to discuss their fate, which is very likely to be the same as BTCCoin and ViaBTC. The scenario might be worse than we thought or it might be other way around!

My opinion that it's impossible.
Can't break 3000 usd. After few days price going to 5000 usd IMHO.
This is good price for buying bitcoin today.

Psychologically, $3000 is a key level. There was a steady uptrend from $2877 and this number is also bitcoin’s current 100-day moving average. Bitcoin was stable at around $3000 for a couple of months and then broke into $5000. So $3000 is the level where bitcoin was stable for a good period of time so it isn't wrong to assume that bitcoin price wouldn't/shouldn't drop below this stability point.

Leave aside the psychological keyline, no one was expecting the recent turn of events and the impact is substantial because China is a major bitcoin market.

Bitcoin has already dropped considerably and as this whole Chinese drama unfolds it might drop further. Breaking the keyline doesn't matter, what matters is getting over with all this drama and then recovering.

Yes I also think that 3000$ is a key level. Lets see what will be. Now bitcoin is on 3058$ price. Almost 3000$...

technical analysis is mostly useless for bitcoin, it doesn't matter what it tells you the bottom, resistances, supports are. in the end the price will be determined based on how much panic is there in the community!

if it were useful then price shouldn't have dropped like this! the current curve doesn't fit any kind of analysis you may come up with.

This will never happen, the supports around 3.000 dollars should work accordingly and they will tight bitcoin hard.

Coinmarketcap shows current price $ 2991,55! Interested to see what will happen now

While you're still dreaming it cannot break $3000 here we go, $2977!!
 ;D ;D

which I think quietly calm, although the bitcoin price fell, I am sure in time later bitcoin prices will rise again, and I also think more to buy more bitcoin the price is down now, I think this is also one of the opportunities for me to invest more in bitcoin, I'm not overly bad about bitcoin prices at the moment.

The price of bitcoin is at risk right now because it might go even farther than 2,877 USD and it might go for a comeback for 2,000 USD price per one bitcoin and that is what need to be prepared and ready our money to buy back some bitcoin for future holdings and be patient and don't look at the market because the market is already has a bloodbath.

market is still small and the orderbooks are way too thin and with that attribute it means price can easily go to some number if there is a large enough sell or large enough buy for pushing in other direction. that is in fact the reason why manipulation is rather easy here.
and as you can see curretnly price is $3241 and we had nearly a $300 swing because of what i said!!!

Well, if it broke, it broke.
We all know BTC will probably go higher in the long term.
But if the question was "will it break $3K?" it went to $2977, then case closed. Yes it broke.

Bitcoin will not fall below 3000. Its price is already increasing.

if a few hours ago the price of bitcoin had dropped to $ 2877 but now the price is rising up about $3352.4613 it certainly shows about the progress of good bitcoin, and remain optimistic in the face of current market trends are uncertain.

Cue FOMO and a rush to 6k, followed by another dump.

Can't it's exchange bug ;D Price rising again! 3500+ USD now!
Don't panic friends! I bought little bitcoins when price was been about 3000.
Good profit to all!