Bitcoin Forum

still dropping.....whats the bottom?

it went

5x down in 2013 so ? 20k ---> 4K?

This market cycles are repeating itself over time to time. There is no doubt that this correction will continue for a long time. So let's use this advantage before it gonna be disappeared on market. Bottom is 6000$ level in my opinion. Keep buying with small amounts till 6000$ support level. ;)

I was thinking that bitcoin will go up since yesterday only to find out that bitcoin is getting seriously dropping. If the current bearish momentum continue then bitcoin may test 200 MA at $7500 and if that point hold then we would witness revise and the bullish momentum may resume. I have tried to hold till now and I will not sell off even if bitcoin full to $4,000.

 I was thinking that bitcoin will go up since yesterday only to find out that bitcoin is getting seriously dropping. If the current bearish momentum continue then bitcoin may test 200 MA at $7500 and if that point hold then we would witness revise and the bullish momentum may resume. I have tried to hold till now and I will not sell off even if bitcoin full to $4,000.
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Yez, tought the same thing; 9500 seemed like the a big resistance, but the wall got eaten pretty quickly --> india news?
9300 is now holding. edit\ was holding...
need some resistance breaking.... 10300 was not broken last night...

Bitcoin is still within two channels. The lower support line is around about $3130. The higher support line is around $7500. We are at around $9100 at the moment, so still not in the danger area.

I just wish that drop happens some time soon as I've been waiting to invest more in bitcoin when it drops further. I had sold all my btc when it reached 17k last year. And I've been waiting for it to drop real low to invest in it again.
I only wish so because we have seen in bitcoins history that whatever be the percentage of fall, bitcoin always seems to astonish people and the investors by regaining its original position. And that's at the top.

You can't really compare 2013's drop with the one now.  They're two totally different scenarios.  But then you can't really count out BTC going 5x down to 4000 USD either...  Is it time to panic now?  ;D

I am a happy Euro buyer. Euro value versus the US dollar has been increasing significantly lately, and now the Bitcoin price is decreasing as well. It basically means that it's a winning situation on top of another winning situation for me. I am buying in smaller parts on the way down, and will continue doing so till the bottom is reached. It's impossible to guess what the bottom will be, but I'll just let the market surprise me. If the $9000 level holds, we might be up for another bounce up, but if not, then we will *probably* have our next target at lower $8000's.

I agree with the OP, this is the perfect time that we all have been waiting for. Anything that is < $10,000 is a good price to get in my opinion. Been out for a couple of days and I'm glad that I was able to see this good opportunity. I was surprise though how quick the price fall from $10,000->$9300 in matter of hours. I'm sure that those manipulators are working their magic and we need to ride with them. Again, I will not wait for the bottom because we really don't know what will the price. I'll just buy in small amounts and see how it goes in the next couple of hours. I have a feeling that $9000 levels will be broken, if I'm right then buy more, if not, at least I was able to stash with the current price. Win-win situation.

If price went down X5 back in 2013, difficulty of mining didn't go down, now not just Bitcoin and mining, all the coins and tokens are moving down.
For somebody like me this is hell, I bought at $20,000 hoping to sell higher, price has been dropping ever since.
Let me show you some  thing on price.

In 2/2/2014 Bitcoin price: $836
2/2/2015: $220
2/2/2016: $380
2/2/2017: $1000
2/2/2018: $8900
2/2/2019: $3000?
2/2/2020: $5000?
2/2/2021: $50,000?

You will be happy within 2 years. No worries - I've been a top-finder before. Sucked for a while but I'm happy now... :-) HODL!

Bitcoin is down to $8600 now, i have a buy order at $8k( i hope it fills). if i'd waited more and bought BTC now instead of at $10k, i could've have gotten $1400 discount or more coins lol.

Hello fellow $6k'er ;) Still more or less accurate since Jan 17th :)

https://www.tradingview.com/chart/BTCUSD/yxWle1He-Mid-term-xbt/
https://i.imgur.com/9KZsmzI.jpg

I know it sucks especially for those who are wanting to sell their bitcoin and still waiting for the price increase. But  this served as a good opportunity now that it has decrease to 10,000 USD mark that it is now 9,000, I am just hoping that the price will recover even just a little bit for example back to 11 to 13k, just so I can sell some of my bitcoin.

Except for traders doing swing trading and probably some nonentities who after holding till this point, ended up selling, I really do not see much people selling that much again. The bear momentum is getting weak gradually in my opinion and sure, the chances of seeing the test on the 200 MA line may be there, but we may possibly get a reverse before then or basically at that point, so, I do not see use getting any close to $4k as that won't be a good signal at all. Based on history though, we have always seen reversal on 100 MA, unfortunately, not this time.

Many guys were really waiting for this drop. Now the chance to buy BTC and altcoins for less has appeared. Use it!

It could continue dropping.

I'd still like to see whether or not bitcoin is able to go above $10k once again and stay there and stabilize. I'm betting on that happening. If not, then there is a high chance that we may go down to $7k and temporarily rest there. Markets are too volatile, though. So it's hard to say for sure.

I'm leaning towards buying at the moment because of the fact that all cryptocoins are just absolutely cheap as hell. Even if you're doing a short term trade you could easily flip $8.7k per bitcoin into $10k per bitcoin. After the dumps, there will be pumps.

this is what it says that if investing we have to use unused money. so we can forget what we investasika if the price goes down. even if possible we can buy more bitcoins at lower prices. because this is the right time to buy

You miss very important aspect for the price.  Yes the bitcoin price kept falling and rising over and over again. But I don't believe bitcoin will hit 50k in 2020. Don't forget worlwide  economy trend. During these years worldwide economy has boosted. But it is expected to have a crisis in 2020. Therefore once world economy starts to fall, people won't have a lot of buying power and very little money will flow into cryptos - Therefore no demand no price increase. I see worst cryptos times in 2020

The $10k mark had strong support, but has been broken yesterday and today price is not bouncing back but dropping further. I would expect to see a further drop to $5000 or even lower if this trend continues.

$4k would be too long. The absolute bottom I'm going to say is probably $5-6k and that would be pessimistic. First we will need to see whether or not $8k can be something like the $10k floor that serves a support for price of bitcoin.

To be honest, I'm happy to see this drop. It has separated the short term speculators from the long term holders, who are taking this opportunity to buy new coins at new low prices.

Expect a rebound, because bitcoin will not go down by this much every single day. Tomorrow will probably prove to be a green day across cryptocurrency, and people will most likely start buying again. Price will go up to $9k or even more at at least one point this week.

Lol these red days are a pain if you consistently monitor the movements. Everything is going down. I don't think though it's going to go 5k and below. Too many of us already know enough to hodl and buy during times like these. Bounceback may likely come sooner than we'd like if we're expecting a 5k entry point

are this bearish trend will continue following this month? i don't think so.
yes it's true, btc falling down price has break $10k support and now hold in $8k-$9k. but some traders seeking this point for pump and dumping in short term hours trading only, seems there are looking for safety short profit. So, I don't think so it will more get falling to $5k entry. if you waiting on that's line, you can have disappointed.

History does not repeat itself but we can see the same patterns appear, and exchange was hacked recently but the news that is threatening to crash the price is the issue with tether which is nothing new really, there have been many smart people in the forum warning this day may come and it seems it is finally here, so the only thing to do if bitcoin reaches those prices is to buy more of it since we do not know when we are going to see those prices again.

I guess we will have to wait and see when we get to reach the bottom.
For now, it seems we still have some long steady downtrend to keep going. Things may be different from 2013 though as we are not having the same scenarios in play.

I still have the feelings that if bitcoin really end up going below $8000, it is going to be adjudged weak and I really hope we have the string whales in place to prevent something like this from happening. Like I said, let's see how long this bear ride keeps going.

I think that this situation can be used and the minutes are the big whales on which you are entrusting your hopes. Well of course for this you need to have confidence that Bitcoin's reality will have a good price in the future and so today you can take advantage of the situation to bribe not a lot of coins.

Price of bitcoin is 9100$ , which is 1300$ greater than day before yesterday value.Which shows the price of bitcoin is again start to increase. Don't sell the Bitcoin due to panic,soon the price will reach 10,000$.Now the price of bitcoin is recovering it's old value.

I do not know if we can call this a recovery, to me this is just a bounce that is all, I think we are going to see the market moving sideways for some time, with a price of 8k or 9k for sometime, this is going to exasperate some people and eventually they are going to sell to find more lucrative opportunities which will make the price to drop once again, so I think we are going to see a price lower than 8k.

Yeah, we saw the market now is quite moving but I'm not to reconsider it as recovery. It is just the result of buying and selling in the market which totally affect the price but then, just look at the price it seems to be at $9k mark and still in dip. Maybe if it is growing continuously, then such a time we think it is now on moving away from dip.

Many people have waited for this drop since December last year and now they'll invest massively. Today however, the price increased a little. But next week we'll find out if there'll be a price drop or of the price will continue to increase. US authorities have a hearing on cryptocurrencies next Tuesday and bitfinex is also subpoenaed for pumping the price of bitcoin. Price drop or surge depend on the outcome of this hearing.

I think its market value will not fall down that much. Hence, its market price is now recovering together with other cryptos. Hopefully the crash will end here and if that's the case, this is the best time to invest to earn assured huge profit. Investment will go along with the increase which will give profot to its investors. We should not miss this opportunity to invest in Bitcoin.

Your guesses are all wrong. At present, the exchange rate of all cryptos is on the upward trend, predicting that the next 2 weeks the Bitcoin exchange rate will return to $ 18,000 and will exceed $ 20000 within the next month. The market will return to the momentum of growth after a lot of negative news affecting the exchange rate in recent times.

I don't think we will see $4,000 very soon. This time bitcoin is starting to recover so we will see $10,000 soon. It will be the end of the weekend as a belief people are cashing out every weekend and start investing again on weekdays. I have no idea if there's a connection on this but I have read it somewhere here in forum. It is $20k-->$7700-->$9k-->moon.

If you notice the price of the bitcoin fall below $8,000 so i think $7,000 to $6,000 is the bottom of price, but don't worry about that. because the bitcoin price cycle is over and over again year after year. We should wait until the bitcoin price will pump again, but fo4 now if you have some extra money you can buy some bitcoin while the value price is still on the dip.

That is market. History, one way or the other will find a way to replay itself. However, I would not ever want to imagine we can see a 5x down like what we had in 2013. Bears and bulls have something in common and that is time. We are in that trend for now, but let's really hope we are going to have a strong support to prevent it from falling further. I really would not want to imagine in my head what 5x downtrend is going to be like for the market.

I do believe market is still quite far from danger and I really hope we will never get to any danger zone. The scenarios in 2013 was a different case though, so I won't believe we can see an incident like that. Probably soon, we are going to start consolidating before the trend changes, but who knows how long or how far this downtrend will go for now. I did not even know we would get to this stage anyway, but now that we are here, I really hope the market recovers soon as I am so bored to my teeth.

No, it's not gonna happen again, $8,000 dollars i think is the deepest price that bitcoin goes by now. And after this new deep dumping price of bitcoin, it will slowly start to pump its price until it reaches its highest price for this 2018. And this is the best time to buy some of it to make a huge profit in the future.

   I was sure that circumstances now and back in the 2013
are not the same. Will it happen or not, I am not so sure any
more.
   I am not afraid for my investement. In long run Bitcoin price
will recover and make some new top. Until that happen price
fluctuations will remain mystery for many of us.
   There is nothing more to think except that some manipulations
are at stake here. This market behavior can not be explained in any
other way.

I do like say the same, that we will be mooning after this dip but the bitter truth is that, I think there will be more dip coming our way, all we have to do is to be ready and be steadfast. And stock up our wallet as usual for the big hits whenever it comes. But know that we won't be as the long dip that happened in 2013, it will be a short one that we will recover immediately.

Not sure about that.
I still could imagine seeing new lows. Even if we should be able to pump to 12k or so I believe the big money could play some dirty games with the retail investors. They want these small guys out! 80% of the coins have been mined, probably 2-3 million coins are lost, so there isn't much left.
And big money doesn't want to buy in at high prices. Sure 9k is a lot cheaper than 20k, however I wouldn't be surprised to get people out of the market with a slowly grinding up an down (ranging) price over a longer period of time. Small investors often want quick gains. How would they react if price wouldn't do much for about a year or so?! Imagine Bitcoin being at 5-6k next year july. I'm pretty sure many will have give up and sold.
M point is: expect the worst and some big f**kery by some huge players.

I think the price won't drop below 7000$ but you don't have worry about your investment in it since it viewed as a long-term investment. What I believe is it will gain its value quite soon since it is still the beginning of the year and the fluctuations in the price is an ongoing process. Instead, I think one should make an investment in it while the price is facing dip...

The best thing to do now is survive this dip. Just endure all the pains when you see the price of bitcoin or any altcoin you are holding. I guess the market is looking good today, it is not that quick in moving upwards and its not moving backwards. If this will continue chances of mooning is big and those speculations about bitcoin that it will reach a good peak before this year end is likely going to happen. Again, just endure til the end of the year and we will be fine.

Bitcoin is now prices is lower, it slowly down the prices. So it right time to invest the bitcoin. If invest you will check the prices day by day it any time to change. So you will know all the information. This informational help to for the future growth and gather more information for the bitcoin. Most of the people wait for the invest the bitcoin. So people check the bitcoin prices in the marketplace day by day.