Bitcoin Forum

Hello dear bitcoin BTC lovers)

Here are my projections of the levels when bitcoins downtrend will stop. What is your opinion?
 Participate in the poll HERE or/and on Twitter! Look at the chart: https://twitter.com/Ganzastation/status/959380321333665792 (re-twit for more audience engagement)


+++ to the karma those of you who give me some merit =)



I based my price projection 7600 BTC/USD on 2 theories:

1) We are now seeing the second (correction) wave (counting from the beginning of bitcoin).
2) The usual level when 2nd correction wave stops is 0,382% Fibonacci level (from 0 to 20000 in our case). So this level = about 7600 BTC/USD


But, because the first correction wave from 20 000 to 10 900 was so great, it is also possible that we will see some flat at the level 7600, followed by a slow increase to 10 000, and then we will see the final gap to the level of about 4700 BTC/USD. After that the 3rd great increase wave will be starting that bring the price much more above 20 000 btc/usd.

https://preview.ibb.co/fapa3m/Screen_Shot_2018_02_02_at_10_27_40.png (https://ibb.co/ewEm9R)

The price of 5000 will be good for purchase  ;D

the lower the better for investors like us.

agree  :D   Pls put your vote too + retweet on twitter)

6700

I voted the lowest option because I am convinced that there is an evil design to try to lower the price and speculate.

It's a bloodbath at the moment, with a clear intention to profit afterwards.

Have no fear and hodl.

maybe you are right about an evil design )

well im in the uk and see a drop of £1500 today to £5500

GBP, EUR, AUD, etc. no matter - all they are counted to USD prior to being counted to BTC (and visa verse) in the long-term view.

6700 btc/USD  ? why do you think so?

$2K is more likely

You're taking a huge loss when selling. You should sell when price is high.

I believe that If the price goes below $4700 then the next level of support is not $2000, but about $1520 (2x times dipper than the first down impulse from 20k to 10 900)

People investing for a long time do not seem to be panicked. But watching the value go down is painful.

We see now how opened (long) positions on futures and positions of marginal traders are closing due to margin calls)) 

Bitcoin is really falling down and the price is not interesting at all you can only by at this rate not advisable to sell for now

Both are just random numbers.

Whatever, i dont want to buy new bitcoins so i dont care how deep bitcoin will fall now, better start a poll about when we will see a new all time high  ;D

I suspect it will trace all the way to about $1500. When bubbles form in BTC, it always ends badly but the good news is once we bottom out a few months from now that sets the stage for the push to $50,000. The crux of the problem right now is there isn't enough money out there, not by a long shot, to cash out all the holders who want to realize a $100B market capitalization. I'm guessing $5B of new money, tops, pushed BTC from $1000 to $20000 - since that's just a price quotation based on balance between buyers and sellers, and can easily be manipulated, but when people actually try to sell their gains for fiat that's where the rubber hits the road and no buyers show up willing to put in $100B to cash them out. Where we're at now -- freefalling.

I voted 4700 because the 20 month exponential moving average sits at 4963,71 today.

Not random! I explained them in the topic message.

You will see how the price stop falling at the level around 7600 (7550-7650)! 8)

Keep calm and HODL.

I voted on 4700 level when you see the trend now it is very on rough to fall down. It is very sad that we experience this but you know in the market we can expect any amount of price since this is very fluctuating.

I think support level 7500 - 6500 will be able to stop the descent, with good news Bitcoin will rise again, I hope that

I don't expect the price to be as low as 4700$. Still, no matter the price don't panic and don't sell. This is the dump that has to happen but like every time in the past bitcoin will survive this period, look at this as a normal volatility process. Soon the price will be on the track again.

 agree) 1520 is also my target level of buying! :)

true!

7.5k is my bottom, too many people saw it at 20k and will have serious FOMO at 7.5k because that is in reach of your average Joe, or at least 0.5 BTC, anyone who has been in Crypto for a long time or learned it recently will know BTC is scarce therefore will always retain a higher value.

It might go to 3k, panic sale :-[ :-[ :-[

Yes, the liquidity of crypto market is very small now (comparatively to fiat market) so such Pump And Dump is normal. Needs more actors and more liquidity to stabilize the whole crypto market. It will take years. But I am sure the bitcoin will survive and be much higher than 50k. The question now is where the current downtrend ends.

Let's hope Bitcoin price (https://i.gyazo.com/31abf877b11bb65559b1706af1daf64d.png) hit the bottom. My bet is on $7600. $4700 would be too low.

https://i.gyazo.com/31abf877b11bb65559b1706af1daf64d.png (https://i.gyazo.com/31abf877b11bb65559b1706af1daf64d.png)

RSI shows that the downtrend will continue soon )
https://twitter.com/Ganzastation/status/959423177733656576

I have recently read an article of a bank in Switzerland who said that a fair value of one bitcoin would ba at about 6K. That would match the middle of the range op gave us.
I think at that time the price was somewhere between around 11K.
Those guys in Switzerland are usually very crypto friendly, and when it comes to things concerning money quite smart. I suppose they have more accurate numbers than most of us.
But I still will not sell my coins.

Anyway, the price will continue to down (this is not the end)

https://preview.ibb.co/gQ4sim/Screen_Shot_2018_02_02_at_13_46_10.png (https://ibb.co/dgJw9R)

We may see 8990-8999 next hours and this will be the end of upward correction...then show will go on) ::)

I agree, there will more long term holders joining bicoin community and will be holder of bitcoin, they will see the true profit.

Yes. Today the secretary of my company (a woman of 35 years old, which is far away from the crypto world) come to me and asked when she should buy bitcoin-) I was shocked) SO..regular people who don't even know anything about this forum are going to invest. ::)

UP. Vote!

I hope it will not go down to $5000 level. Yes it is good to buy in at $5000 but if it goes down that levels, people can lose their belief in cryptocurrencies.

if it goes below 4700 then 1500 what we will see before great and long 3rd wave to 100k

Yes, I read your explanation and came to the conclusion that these were just two random numbers.

If it drops to 4,700, everyone will start buying bitcoin and it will be good

yes probably it will stop at 8k level or 7k level, which is very healthy given its upward movement for months but bigger picture bitcoin is still in a good up trend.

Agree! It is golden chance for us to make good income with small investment but if we will be later then it will be lose because price of bitcoin is slowing again rising so if you will invest at low price will have good output at the end of this year. Price of bitcoin is a bit low but it will not remain the same price of bitcoin will grow once again and it will be time to sell bitcoin but right now you will have to show patience.

Hoping it goes down so that i can buy more.

Why would i lose if i only sell when it's high? Do you have like any experience at all in this what-so-ever?

Oooh what a good prediction,  however we have seen 3600$/bitcoin and still people are predicting that we might go below 3000$ range before we finally see a new wave of price increment.  We hope things get better for more profit,  mainstream adoption and real life use cases. 

So now you should buy some bitcoin :) When you posted your comments the bitcoin price was arround $9.500 and now around $4.000 so go and buy some.  We have passed the 7.600 and 4.700 levels and the falling still continue. I am sure that the crush will until price reaches $3,000. And then i hope we will have some recovery for all of our sakes..

You predict it! I thought the price of bitcoin will stabilize at 7600 dollars before christmas will come. But look at the price right now, it moved down to 3800 dollars. If you will buy at 6500 dollars, you lose already half of your investment. The best thing is to hold because the market is still at the process of recovery. Hold and buy bitcoin as well as other altcoins.

Add a vote for $1500   ;)

Experts can't agree as well ;) https://www.fxstreet.com/rates-charts/btcusd/forecast

I would vote for 4K

If you are early investors the lower price is not good because you already lose a money. To all people who willing or started to invest in bitcoin you are lucky simply because some people invested last year where the price is around $20000 and the price of now is around $4000. I think the price of bitcoin will not drop again so stay positive.

As long as the downward trend does not change, the price will decrease (((

Based on the intensity of the downtrend of Bitcoin throughout the past two weeks, a drop to a new yearly low in the range of $3,000 to $3,400 seems unavoidable, especially if the volume of BTC is considered.
https://www.ccn.com/crypto-market-loses-6-billion-in-big-downtrend-is-3000-bitcoin-unavoidable/