Bitcoin Forum

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  ;)

Edit:  Prop bet added.

Anybody wanna put their money where their mouth is?  Since it's near the what I think is the 6000 USD floor, would anybody here wanna bet against me 8 to 1?

I say BTC won't go below 6000 USD for your 80 bucks vs my 10 bucks (I could go up to 50 for your 400).

Terms would be:  

If BTC goes below 6000 USD, it should stay there for at least two weeks to be considered actually 'below 6000'.

If BTC goes below 6000 USD for a week (for example) then goes back up and then back down again, the counter for the 'below 6000 two week time frame' goes back to zero.

We use Bitfinex's BTC/USD price.

Bet is only open while BTC is above 6500 USD.

*Bet is only available til the end of June (2018).

Bets would only be open to very trusted members and gamblers in hilariousandco's FIFA and EPL betting pool.

*If ever somebody bites and bets against me, it will end on December 31, 2018, midnight (forum time).

Anybody?

I would say below $6k is a bit uncertain but there is actually a huge chance and possibility to see it happen. Firstly we just broke out from a wedge formation which was believed to lead us lower and we broke the support formed by the lower trend line of that wedge around $6800, so that makes it a possibility to lead us down towards $6400 (a low formed on the 1st of April) or around $6000 formed round 6th of February). Now, a break below this last support would obviously lead us way lower which could be a rapid one.

However, the volume on breakout is a bit low, as I was expecting a whole lot more after breaking that wedge, so this makes me to wonder if the possibility of all that I have said in the first paragraph could actually come into play or we should see a good bounce back up with the possibility of a double bottom forming, but I guess we will live that for time and trend to decide.

It is possible yes. But how likely is it? Hard to guess. I'd say we could stay above 6000.
The fundamentals are extremely good. And without some absolute serious mega FUD I can not see us go below 6000, especially not for a longer period of time.
If we should go down, I will buy whatever I can. Orders are placed.

According to the bottom development cycle not, but retail panic ignores everything that makes sense, so it's not entirely impossible.

Good thing is that between $5000/$6000 there are several layers where massive buy support is likely going to kick in, and for that reason it would be smart to have some fiat that you can use by that time.

Currently the price is still hovering above the price that could be seen as somewhat important, which is $6500. If it falls below that, a test of $6000 is pretty much guaranteed. If it falls below $6000, a test of November 2017's bottom of $5555 will happen, and if that doesn't hold either, we have $5000 to act as an obstacle.

As long as there aren't actual bullish developments, the market will remain unmotivad, which is why I have pointed out several times before that we aren't done with sub $10,000 levels for the rest of this year.

Of course, it will. Next resistance level is 5.800 and then going straight to 2.500. For a few years. Enjoy ;D

No,it will not go below $6000 because even in this year there were lot of bump and dump happened but it doesn't go beyond that $6000 so for now $6k is the bottom level and it is my own opinion I didn't do any technical analysis because most of the time it becomes false.But yesterday there is a huge dump occurred which may triggered the panic button among the newbie investors so now the price is slightly below $7K hope it will bump back soon.

I am going to go ahead and say it is go below $6000.

but not because I expect it to, not because it is possible to reach that price, not because some analysis says it, not because of supply and demand, not because of support levels, and certainly not because I want it to.

but simply because of the same reasons why it went below $10k and then $9k, $8k and so on. dump, dump and more dump followed by FUD and a lot of false news and panic.
we had a ridiculously strong support at $10k but it was broken. price wanted to go back above it but it wasn't allowed, it tried again two more times and it wasn't allowed to break it and it was constantly pressed down so far. and this pressure has not been lifted and also it has not yet reached that time when it can no longer fight the power of the rest of the market combined.

I´ll say yes. We are at 6700k and there is still no run on bitcoin. Why should we stay over 6k then? This happened many times. They drop the price in weekly patterns with sell attacks. From 10k to 9.3k to 8.5k to 7.7k to 6.7k and so on. They will do this until they trigger a bull run. I can´t imagine we´ll see 5 digits until 2020. Just my oppinion...

Apparently, Bitcoin started recovering and it will reach 7k soon.
I don't think it will go below 6k Dollars because many investors are buying right now because they believe it is the lowest price Bitcoin can reach.
I hope other members can explain why they think it will go up or down with solid evidences and not only giving assumptions.

If we will start to create thread like this for every $1k we loss in price than first page of speculation will be full of just whether price will go below/up from certain price range.  ;D

We are currently in bear market so price will always tend to go down and some massive dump within a hour period is also quite normal like what we have seen last night that is why we are below $7k.

I don't see any other reason than some whales cashed out last night which cause massive dip and soon market will recover.

Where do you see a recovery? People said this after each drop. Don´t get me wrong, I want to see Bitcoin @100k. But face the truth, we won´t go anywhere anytime soon. Some people simply don´t want it to.

This scenario really good for Bitcoin hunters so it will reach 6000 USD is possible and peoples are buy more Bitcoin automatically this will reach more than 7000 USD also possible so we should not exactly predict the Bitcoin future. I hope bitcoin will reach more than 10000 USD in next month and many looking to Crypto payment system so it will move big hype in future.

we reached ATH on first month of 2018 so you are saying this time to see price back to normal level ($10k) not even the ATH we need 2 full years. i seriously doubt that it is going to take that long this time.
but i agree with the other part, the "sell attacks" will continue for a long time until we reach that sweet bottom.

I think all things could happen to Bitcoin. So there is not a thing that can be ascertained because the price changes that always happen make the market very difficult to predict. which I believe is that Bitcoin will continue to develop and I am optimistic it can get better, the decline will not last long and everything will change for the better.

I do not know in detail about the effect of Bitcoin's current downturn. It seems to me too bad if Bitcoin will cost under 6000 USD. But we hope Bitcoin will experience a positive trend over the past year

As of today were above 6000 USD and yes it is possible to go down low as you mention because no one really knows when at how will it go down or go up but the one that really matter is that we should stay possitive in this moment don't panic.

Weekly MACD went deeper into the negative, and 12h, 1d and 3d MACD also look quite bearish short term.
It's not yet impossible for the market to recover, but my favorite scenario is now an intermediary bottom around 4,500 $, and final bottom around 3,000 $.

Yes and No.

Yes, The possibility and chances that it will go below $6,000 is already there because of the current price of bitcoin which is between $6,000 - $7,000.

No, I've been bullish on bitcoin and I think that we're totally done with this bear off soon and it will recover in a while.

I’m going to HODL my coins until at least 6-12 months after the halving in 2020 so the proce faloijg atm shouldn’t bother me as my get out point is still a good while away......but it does bother me.

I hate seeing the price fall & I think it’s manipulated to fuck, whales shorting & fucking up the market. I even think Wall St & governments are doing it too.

So to answer the OP, unfortunately yes, I think the price could go sub 6k.

We’ll reach a new ATH before or a year or so after the halving any way though, bitcoin ALWAYS recovers.

No coiners like this ^^ don’t help the mood on here, manipulating noobs etc



Edit - Look at this losers post history ;D

It's nothing more than a cheap kwukduck impersonator. I find it quite interesting actually to find out what's driving these people to act like that. I think it's pure bitterness because he bought way up last year, or he's just trying to kill time, or both. I don't mind these people because they can't impact the way I think about Bitcoin, and more importantly, I never have any type of high expectations when it comes to the short term market. Institutional capital will lift this market up once they have the clarity on the regulatory side, and of course their playthings to enter this market with longer term exposure. Institutions don't want to mess with exchanges, but want to deal with 'trusted' platforms as CME, CBOE, NASDAQ, etc.

I think a lot of the time it’s people who can’t afford to buy in, even now. Maybe they heard about bitcoin in 2012 & laughed it off but now wish they’d invested but it’s too late.

Or maybe they were uber early adopters who sold everything before we even hit $100.

One thing’s for sure the bitterness in their posts suggests they’re upset about what bitcoin has maybe done to them.

There's a high likelihood that this could happen. Obviously $6.7k seems to be a pretty strong support right now, but I don't think that is going to be the bottom of this bear market. Based on price history, prices usually fall by 80% or more from an all time high before finally gaining support at the bottom.

Also considering that the market is still extremely bear-sentimented, and that $10k resistance is so strong, it's hard to see a recovery happen any time soon.

Combining all of these things, I think it's fair to say that BTC is near its bottom, but not quite there yet. There is most likely some more room for prices to go downwards before stabilizing. I think that the prices is definitely going to be lower than $6k at some time of this year.

Hate to say it, but I personally that anything is possible with Bitcoin nowadays. Its not very far off from that value, that is why I'm saying its possible. I also feel like if it does happen, if the price goes below $6.000 it will eventually bounce back stronger than ever.

I do not think that it will happen unless that there is a major FUD around here, but the price is good at the moment, it is a good entry point for newcomers in here.

Anybody wanna put their money where their mouth is?  Since it's near the what I think is the 6000 USD floor, would anybody here wanna bet against me 8 to 1?

I say BTC won't go below 6000 USD for your 80 bucks vs my 10 bucks (I could go up to 50 for your 400).

Terms would be:  

If BTC goes below 6000 USD, it should stay there for at least two weeks to be considered actually 'below 6000'.

If BTC goes below 6000 USD for a week (for example) then goes back up and then back down again, the counter for the 'below 6000 two week time frame' goes back to zero.

We use Bitfinex's BTC/USD price.

Bet is only open while BTC is above 6500 USD.

Bets would only be open to very trusted members and gamblers in hilariousandco's FIFA and EPL betting pool.

Anybody?

no, before the bitcoin price reaches the $ 6k price the market is back green. that's a sign of bitcoin prices have started to rise again. I'm glad the bitcoin prices do not drop below $ 6k

did you remember when people said it won't go under $7000 when we're breaking $7800 level a week/s ago ?
look at it right now.
it has a possibility to reach that point or even below that if we are looking at technical analysis,market sentiment and our current news.
but personally i do hope we are making a reversal trend.
it's so boring to see it going this way and everything is bleeding along with it.

i would not bets for this but i have to says bitcoin will never fall to $6000 below even today there was small movement that bitcoin back to $6500 above however i was wondering what factors makes bitcoin looks stuck at $6500-$7500 and seems there was the particular factors to avoid bitcoin price rise up more higher

By the looks of it, lets be honest here, its not far off from that dollar mark. I remember people were writing that it wont go under the eight or seven dollar mark. These days its not easy to predict how prices are going to move, so I just could be writing nonsense here. Its us, the people who will determine the value of Bitcoin. Even if it goes below $6000 I highly doubt it that it will stay for long.

Theoretically, the price of bitcoin can be reduced by $ 1900. After this threshold, miners will start to stop the equipment. I think that bitcoin owners are not ready to sell coins at such low prices. This will deter speculators. I am pleased only that someday speculators will raise the price of bitcoin in order to sell their coins more expensive. I'll be waiting.

Well the way things are going it is very possible that Bitcoin market value may likely decline below  $6,000 and touch $5,000 if not below the said amount in the nearest future. And if it eventually happen then that will create an opportunity for investors to buy at a cheaper rate and sell later when its value appreciate.

i do agree on that, it might go down below $6k dollars because there are a lot of people who are not really good in trading and they will sell their coins at the lowest price in which will make the value of the coin to decrease even more and it was a good news at the same time since we can invest a huge amount.

I don't normally to this kind of speculation, but I'll add my two cents for anyone willing to take the OP up on their bet.

In my opinion the recent downward trend was directly related a few whales which have been manipulating the market. If you combine this with the predicted stabilization that has been threatening to happen every since Bitcoin hit it's highest value ever then it's certainly not impossible for it to go much lower than 6000. I'm not willing to put my money where my mouth with this one though as I do hate to speculate.

Even though I say that it could go down much lower than 6000 I don't think we'll be seeing that happen. I think a realistic figure would be somewhere around 5000-5500.

Anything can happen and we can expect because bitcoin is a digital currency and ups and downs occur in the price of digital currencies. In the present there are no chances that it will go below 6000USD but yes it can happen because everything is possible. Yes, it is possible for bitcoin but I think it can’t happen in the present or near time because its demand is rising day by day, which is constantly increasing the price of bitcoin.

You did not mention WHEN is the end of this bet.

My opinion is that it’s very much 50/50 for Bitcoin at the moment, it’s possible it could be completely obsolete and useless in less than a few years as more and more contenders for the top spot develop and build better running block chains.
Or, It could very well go to the moon which is why now would be a very good time to buy in if you haven’t already.

All in all, just another day in the world of crypto-currency.

That's a possible outcome. However, I don't think Bitcoin is likely to become obsolete. For a few reasons, but mainly because it is has the largest foundation and its scarcity makes it a great alternative to gold for both store of value and speculation. I think because of Bitcoins immutability and capped (low) supply, many will use it to store their wealth. Eventually, some governments could even start hoarding BTC as part of their reserves.

Nice to hear that people have started betting for this and I think it is possible and it might go down to $5000 in days to come.  The current situation in the market is not too good for investment as bitcoin has been loosing $2,000 to $4,000 every month since January 2018. I don't think bitcoin will grow the same way it do last year.

I think that prices are most likely going to drop below $6000 during this stretch of bear market. We're not seeing any signs that a trend reversal is going to come in the near term, which is why I feel like prices have a lot more room to drop still, before it bottoms and consolidates.

We've actually went through the support at the $6700 level which was the level prices started to rally a little last time, which means that there is probably going to be a panic dump situation again. But the major level to watch is still $6.2k or so, as that was the low of the year.

But anyways, no guarantees that it'll dip below $6000 for more than 2 weeks consecutively, but I think it will.

You're wrong mate. Besides,you always get the wrong result in terms of market prediction if just follow the price movement with the exclusion of the fundamental reason behind the cause of price dump and pump movement. The price will never go below $6000 not to mention $5000.

Thanks for pointing that out.  I added two more rules in response to that.  Check the one with asterisks.

I'm also planning on extending the bet's availability and changing the odds to make it fairer for both parties.

unfortunately I'm not in FIFA and EPL betting pool.
more than happy to go as high as USD 100 vs 800

This is basically also my plan.

My only concern is that if we fall to much then even a doubling or tripling around the next halving won't bring us to 20k again.

So I really hope we get the the 10k before then.

What is stopping bitcoin now to grow? You see reasons? I can't see. This means that we are seeing an artificial decline in prices. After the whales buy a certain amount of coins, they can easily raise prices up. You doubt that? Earn can only those who will the most patient. The rest of us will lose our savings.

Nice one and what is nicer is the last sentence when you mentioned time and trend will tell and that is a basic fact, most especially with bitcoin which has been so unpredictable lately. One time, you see the TA showing possibility of growth, the next time you see low volume and then a quick reversal either up or down and so far, I am just trying to see how things are basically just going to end up eventually as nothing is so guaranteed at all right now.

The truth is no one of sure of anything at this point in time, as everything just keep beating one's imagination and assumption at the end of it all. There is a no chance we could see lower than $6000 since the market can decide to behave in any way it seems which is my reason and these days even the fundamental sentiment in the market just seems not to be corresponding to what is even happening in the market as a whole.

Yeah red and green, profit and loss, ups and downs now builtin with bitcoin market. I think now it is the time for growth again and hope that it will cross $10000 till the end of this year. 2018 on the whole is not good for bitcoin so far. Almost half of year has gone and the price is still below $7000. It is good chance for new investors and when they invest in it the price will grow due to huge investments.

You should join gambling site. This forum is not for gamblers. We want to discuss the serious issue relating to bitcoin price and other Altcoin future. Betting in this forum reveals that you are regular gambler and want to gamble anywhere with anybody. Anyhow I think that bitcoin will not go below $6000 because it is the lowest price for bitcoin this year.

No mate bitcoin will not go down below as long there are some holders that keep believing bitcoin growth rate will bounce back again after this bear trend,  and also keep buying at dip and assuming to obtain profits in the future.  So probably there's no chance, unless if all holders sell off to test new bottom price such big players in the market.

It depends on how you evaluate the situation. As we all know that bitcoin is always volatile and the market price is unpredictable. We dont know when it will go downtrend or uptrend. Basically, prices in the market are dependent on the demands and supply. For me, the bitcoin price will not go below 6KUSD because I know there are still more users and investors buying bitcoin nowadays.

The prices in the market today is green and it might be the sign that prices are starting to bounce back and increase further more till it reach december, buying a huge amount today is the best choice you can make while the market price is still low and earn profit when the market goes back to normal.