Bitcoin Forum

Price remains consolidating, as we haven't heard major bullish news so far, is it possible that BTC will drop to 6K or even lower if bears threaten investors? Though we can expect a strong support at former low at $6K.

$6k is possible but it is unlikely as price has already tested that low before when there was lots of panic on market but right now many new investors are jumping in thinking this as an golden opportunity to make an entry.

I know market is bearish but I am quite optimistic about next surge which might last till end of 2018 just like in 2017.

Is it likely? Give it a few days.

If there will not bad news for cryptocurrencies, Bitcoin can reach 20,000 again. It's a bit hard to probable what would happen with technical analysis in cryptos. Cryptocurrencies will be good if the governments, big companies let it work. But in these days we should get good cryptos to make a more profit in the future, because it is the best thing for now.

Btc might never reach 20,000 USD again.Times are changing.The banksters and their loyal government servants will never let the cryptocurrency industry to thrive.They will play the "crypto is too risky,don`t buy it" propaganda and scare all the new investors away.I don`t agree with OP`s theory about a "bearish bomb".The crypto market is still too manipulated by outside factors,and we can`t talk about "bulls" and "bears".We are all "bulls",but we can`t push the price up.

anything is always possible with bitcoin but the important thing to always remember is that we should never wait for anything that is unlikely. for example price may fall down to $6000 or ever lower but we should never plan for it. the plans should be for the more likely scenarios instead. for example the bottom to be $8000 and the possibility that it may start testing $12k again.

If you are thinking about that, why do you join the signature campaign and post it forum? Not be so pessimistic, could be the situation is a bit bad now, but if you use a bit logic, you should see the future of cryptocurrencies. The governments don't know how they can ban it, according to that, they are to spread bad news.

Anything lower than today’s price is profitable in the future.. Why not celebrate that chance to buy in a much lower price as it will be the last,, is it?? It might be at 50/50 possibility..

There is something happening beyond what we think it is.. Be conscious as this is always a good sign for a better run..

With the present bear flag and the MA20 rejection on the 4hr chart, we may likely be having a double bottom with the test of $6k very soon and I am hoping to see a great bounce from there. It would be a sweet one to see my buy order hit from that bounce anyway  ;D

It would however be a bomb if we go way down below $6k and that will not be good for this market. Let's just wait and see how the 4hr candle closes but whichever way, no shaking! We are galant!!

The price is definitely bearish at the moment but that does not mean that we loose all our stakes on bitcoin . This is just a bad phase and bitcoin will get through it . It is just looking like the time when China banned bitcoin and bitcoin hit the rock bottom , but later it grew well and didn't stop until $10000 . So this is an amazing opportunity of investing on some of the best coins including bitcoin and wait for sometime for it to hike .

The price firmly fixed at the level of 8300 dollars. I'm sure it's the bottom. You can sell all your coins but it will be your biggest stupidity. Now I see a lot of potential for growth. Very soon we will see a big jump up. Next week, the price will be $ 12,000. All I'm saying. Now decide for yourself to sell bitcoin or not.

The price won´t fall below the average cost of mining a single Bitcoin. Mining is
not a hobby anymore and the mining operations are highly sophisticated. Some of
the players involved are reportedly worth more than a billion $ (Bitmain).

There are many parties, who are heavily incentivized to prevent Bitcoin from
falling below the average cost of mining a single Bitcoin (roughly 5000-6000 $
at the moment) and they have the capital to do exactly this. Given the fact that
the Bitcoin exchange markets are still trading very thinly 10-20M $ are enough
to prop up the price if it appears to drop too low. This is peanuts for the big miners
and the other parties with similar incentives.

We won´t see a Bitcoin price below this level unless some of the players try to bankrupt
their competition, because they think they can outlast their competitors when mining at a loss
due to having a bigger warchest or due to other competitive advantages.

It seems to me that it's time to move on segwit2x. This will give the opportunity to have a cheap and fast transactions. Coins are distributed more evenly among the entire community and we will have a more stable price for bitcoin. The number of users will grow and maybe then we will leave the dictatorship of miners and whales.

I'm not, but we have to be prepared for the worst.

And worst case scenario, is bitcoin falling to three digits.

Im sure that most people here dont want that, but fear seems to be driving most users these days.

If everybody starts selling, the fear will be confirmed.

Do we want ours fears to succeed?

Fear is the mindkiller. Just let it pass.

It will reach $6000 dollars again for sure. Just one bad coverage on a popular website and Bitcoin drops buy a thousand bucks lmao, we need regulations.

ehhh.... ::)
We need regulations for what? So the price won't drop? what are you talking about?

LOL. Someone says that it will go as low as $5000. There's really too much FUD going around right now. I think you already know that this is a speculative market, that's why the price is very volatile and just like you said a single negative news will turn the price down south. However, every FUD, every attacks that we have witness are short lived. Because one investors found out that the news is just fake or spreading lies, they will go back to the market again. Sometimes common sense and due diligence is the best weapon to combat all this bearish sentiments. As of now bitcoin is up, around $8600 so I don't think that $5000 could be test anytime soon. And talking about bitcoin coverage:

LIGHTNING NETWORK GOES LIVE WITH $2.5M FUNDING FROM TWITTER CEO, TESLA & SPACEX INVESTOR
 (http://bitcoinist.com/lightning-network-beta-release-live/)
First Bitcoin Mainnet Lightning Network Product Launches As Developers Net $2.5 Mln (https://cointelegraph.com/news/first-bitcoin-mainnet-lightning-network-product-launches-as-developers-net-25-mln)

Yep I also saw the news of the Twitter CEO supporting LN. It may not have an impact on the market for now tho... there's a lot of people that still don't even know what LN is.


We may go through a period of stagnation around the 3k to 7k area, potentially months, until people realize that LN is going to make Bitcoin the currency of planet earth, as well as the de-facto electronic gold and therefore reserve currency of planet earth. This will ignite a bullrun to a marketcap worth trillions. Until then, be lucky that you are aware and keep increasing your BTC stack.

If those negative news keep coming out and we keep experience panic selling then we should expect a fall towards $4,000. However I think we can see that  the price has started recovery since yesterday evening and I think it might get above $10,000 before end of next week and from there if there are positive news we may see a great growth in month to come.

No good news other than lightning network will be able to cause a major rush that will allow the market to move further. On top of that, in the last years good news hasn't really been a price driver anymore, while bad news constantly manages to push the market down, and that while the news we see pop up isn't actually bad news at all, but just fud or sponsored garbage. At this point in time nothing but patience will be the main key, and in a market where the majority of the people are only interested in quick gains, that's difficult for sure. I am confident that the market will not dip below $6000, but we may dive below $7000 if the short term demand doesn't manage to steer the market towards the $10,000 level again....

In the current state of matters, there aren't anything (really) that could spell a bullish move or any form of incentive for the traders to keep on buying. Add to that factor, the recent bombardment of negative news which discouraged new money to buy in even though the price is really dirt cheap and inviting. The previous bullish moves, IMO, were just bear traps and just waiting for the right time to be triggered in order to suck in more money from the weak hands. Well it was successful, and even though the selling pressure keeps on pouring on, a strong $7000 support is already in line in several exchanges waiting to receive the blows anytime.

we've had some bullish news recently. lightning labs just launched their beta on mainnet (https://www.coindesk.com/a-version-of-bitcoins-lightning-network-is-ready-for-real-money/)! also, coinbase is expanding into the UK after just receiving a license there. poloniex is expanding into asia and circle just released a new crypto investment app available in 46 US states. and billionaire hedge fund manager alan howard (and other partners at the firm) have disclosed sizeable personal investments in crypto and he says he plans to invest more (https://www.bloomberg.com/news/articles/2018-03-14/billionaire-alan-howard-is-said-to-make-bet-on-cryptocurrencies).

it's just that the news isn't effective right now. buyers are scared, the hype has faded, and sellers have remained in control of the market. so it goes.


maybe. personally i think this consolidation has lasted too long (and volume too high) for a simple retest of the lows. i think if price returns to $6000, there will be an attempt to make a double bottom. but afterwards i would expect much, much lower. :-\

If the previous bottom breaks, much lower levels are pretty much guaranteed. It would mean that we for the first time in years have gone lower than the previous bottom, which would indicate much and much lower levels.

I am not the only one adding value to the previous bottoms, and for that reason expect a flash crash caused by whales unloading their coins right at the moment we dip even a few bucks below the precious bottom.

I however don't believe we will fall below the $6000 mark. I rather see a strong longer term consolidation pattern form above the $8000 mark, than having the market go up while in reality even a small bump isn't sustainable.

The current news now are about fuds that bitcoin cn dump as low as $2k+ forget the exact so be it. And to my on Technical analysis we are heading to drop below 8k tomorrow. Now im just watching and leaving after got some answer based on my own speculations.

The bearish bomb has already exploded. We went from $12k to $8k and we're currently building a bottom at $8k.

This bear market may be over but I don't think it is going to be much more bullish than this, until some major positive news around bitcoin is built. So for now, expect prices to hang around $8k, potentially sometimes going under to around $7k.

The support at $6k as you mentioned will be extremely strong, just like last time.

In fact, we probably won't reach that stage. Lowest I can see this go is $7k or so which would be the lowest level I can see for the entire year. But, if that is broken, and $6k doesn't hold up which is unlikely, we may see further adjustments down to $5k or so.

Tom Lee, an analyst at Wall Street firm Fundstrat and known to be a bitcoin bull, stated that the price of bitcoin will likely drop to a yearly low before recording a swift recovery.
“When sentiment is this weak, the market is increasingly ’fire, ready, aim’ — meaning, any headline today is likely to trigger selling,” wrote Lee, who emphasized that the next support level is $7,535, followed by $5,873. Given that the $8,370 support level has been breached, Lee explained that it is possible bitcoin could fall to $7,535, and make its way down to $5,873 before recovering to its previous levels.

I am waiting for the price reach $6k and I hope that is the lowest price of bitcoin and after that, the price will increase higher although it could not reach $12k, I think the price could reach $9k first and stay at that level for a while. and after everything is ready, then the price will rally and reach the another highest price. although we don't know when this will happen, we could wait the time come.

It is hard to guess in this situation. If a bomb falls on a bitcoin it would be bad! One is that many will lose. The second is to create opportunities for many speculators to buy cheap to later sell at high prices. Success depends on your bravery, bravery and self determination. Believe bitcoin will bounce back.

I am not sure whether new investors are rushing into the market.

I guess you are also waiting for the deep dip just like me, right?

Can't agree more, indeed, we are all bulls, though some of us may go short sometimes, overall, we still expect the price to climb as high as possible.

for me the price already gained strong support at 7k. And i think it will never go 6k on this time. 'cause it seems the potential of price now showing tends to increase even though it keeps struggling on this moment.
 

without good news the price will remain between these $7000 to $12000, even when the price was  $ 1000 they were between  $1000 to $600, then we went to  $3000 to $5000 that was the same case, then the price simply only rose to $20,000. if we have good news in the future the price will go back to the $20,000. something that I noticed in these last 3 months is that in the exchange where I make trade the volume of all crypto has dropped a lot, is as if did not have money coming in.


I sincerely hope it does not fall below $6000

Well, few days, hours, minutes and iin all time is all we need to know anyway. I am still not very sure how this market wants to play out, but anything at this stage is possible and I would not be surprised if the $6k is what we have coming. Honestly, I would not really mind anyway to see us test that $6k once and for all, as this is all I need for my life right now. Bearish position is not my worry, my worry is not having money to buy in that position, but as long as I have some fiats available right now, I am looking out for a good bounce.

Bearish bomb already provided enough disasters. It would not be a atom bomb if it is $6k, it would just be a test of that support and I hope we get a lock and reload from there as we see the market going back up. I really do not want to imagine what the drop lower is going to be like, as that would be a crazy one to witness, but anything is possible. However it comes though, it is just a matter of time.

Yes even it is struggling at this moment bitcoin can survive at the end for sure. Price claims at a lower rate this time it will slowly recovering maybe this mid year. In this Bearish moment we should be patient and calm in this market.

Damn it. I regret not dumping all the tokens I got when it goes up last December not I'm seeing it all down. I have dumped the rest already even if its almost not gaining much. I think a $1000 profit still is a good thing to still dump.  The best thing to do this time I guess. The BTC I got was also cash out into USD before its to late. Those who manipulate can manipulate all they want but I'm out already so once it start to go up to $10K again, I think this will be the time to buy again. But right now, it could go below $4K or maybe $2K, which is a good thing to buy back too.

Right now is very difficult to predict what is going to happen we could reach that price but it is possible that we go even lower, there is not much hype around bitcoin or cryptocurrencies right now and most of the feelings I am getting is that people are very pessimistic and negative about the short term future.

lol