Bitcoin Forum

Bitcoin price LIVE: BTC 'exhausted' at $6k - 'bottoming process' could sink crypto to $4k

BITCOIN is fighting back after news of yet another hack on an exchange in South Korea sent crypto prices tumbling this week. However, one expert has warned that bitcoin's “bottoming process” has began and prices could soon sink down to '$4,500'.

Details:
https://cryptomonster.net/news/bitcoin-price-live-btc-exhausted-at-6k-bottoming-process-could-sink-crypto-to-4k-express.co.uk/index.html

where do these people get this stuff from? :o

"fighting back", "exhausted", "bottoming process",... it is as if the article is trying too hard to use words to scare people into thinking price is about to fall down hard :D
the funny thing is it is not even showing smallest signs of drop. if anything it is showing signs of rise. ever since this "hack" happened the price has gone up about $400!

Lol !! These is how one should write high quality article where people will spend more time to understand the objective of the article. This will increase the pageview timing for that website and in turn increase the traffic ranking.

The fact is technical analysis are made for fully regulated stock market. It holds no significance to a trustless and decentralized currency like bitcoin. Nubes will be worried after reading such articles while experienced will keep calm!!

Wait, how exactly is Bitcoin fighting back a tumble after the recent Bithumb hack? The price barely moved lmao.

Also, all the "expert" says in the article is that Bitcoin is down 70% from peak value, and this therefore meant that selling is exhausted, and thus will bottom out. How does that work?

Nothing insightful to see here.

The story is not really accurate and factual as the price of bitcoin  is rather  rising for a while now. From my  experience in crypto, am anticipating that the price will hit $7k in the coming  days.

Many experts say Bitcoin's production costs 6K, so I think he will not fall below this amount for a long time.

The price is at $6732. The hacks are only an issue if you think coins are going to be dumped on the market. However it appears most of the coins stolen are alts not bitcoin.

That's big and deep words being used on bitcoin lol. It's been almost a day since the hack was done and so far, there are no major movements toward the negative side of the spectrum, so how would that be a struggle and how would BTC be exhausted at a price range it's been sitting at for nearly 2 weeks? Such reports were also made in February where BTC could face tremendous losses and sink down to $2.5k yet nothing happened, and $5900+ was the bottom of the pit and a rebound to $9.7k happened afterwards. Honestly though, fear-mongering and FUDding won't do too much damage right now as most people are now smart enough to not be swept away by emotions and negative news.

i think it is a copy paste issue.
the website is obviously one of those shitty sites that some newbie created to make money from, so it is just copying random things from the internet, changing some words and posting it as news.

and this thing about "struggling and falling" started 2 days ago as the hack news came out. someone was trying to spread FUD in hopes that price falls but failed. but now the shitty clickbait sites are just copying it around :D

Personally i think Bitcoin would not even go at that mark. there are chances but very low. we've reached the dip for the market expected bounce back in September-December range back to 20k Usd mark. Hopefully.

I do not think bitcoin "bottoming out" will arrive at 4K. Now bitcoin prices are close to mining costs. I think the market will slowly increase after correction.

Sometimes I wonder how someone would invest his time on something that is not true and still wonder how someone would then spend his own time searching all over the internet for news then bring to the forum the question I usually ask when that happens, to what end. I believe its either to cause panic or to no value sake but unfortunately, aside from the newbies who moved by news like this, its simply just like one the news to most people in the forum and they are not moved by it.

the "bottom" has been tested dozens of times since october.. and $6k seems to be the flatline..
theres been loads of social drama, theres been hacks, theres been fiat finance guru insults theres been many things. but the price has not gone below $6k

by now anyone willing to sell below $6k would have done so already. and those those weak hand selling near $6k have passed thier coins on and the new holders are not gonna sell for less.. aswell as the cost of mining with the hashrate rises since october holding up a healthy underlying value wont sell for les either, otherwise they too would have done so at the many many oppertunities since october.

$6k is appearing to be the bottomline of value.
ignore the $20k peak that only 1% of the community actively were involved in and only lasted a few minutes. dont stand at $20k as if its 'value'/standard/normal/stable to then look down wondering how deep things are.
instead stand at the bottomline value of this year $6k and look up.

 

I have heard this several times from last February . But it hasn't gone there. Even it hit nearly $10K last month. So I don't think that it will sink that low. It has a loyal demand in the market. And the demand will hold its value. But if the mining cost drop by four to five times, price can only then decrease, I think.

If it falls like it did after Nov 2013 boom, then ~$4500 is the right call, actually a few 100 lower, then ~4 years before the next boom.

Bitcoin is really a wait and win game, those who cant wait long enough will fail. We will see real numbers in two to four years. I expect 50k by 2022, per bitcoin

despite what certain people wish, the chances of price going lower than $6k is extremely small at this point. we have already tested breaking that resistance multiple times and once in the past during the peak of the panic sells we even saw $5900 but it did not last more than an hour.

additionally  with the recent $30 million exchange hack and the fact that price did not move at all proves that market is not ready for a drop anymore. i presume there is a serious accumulation going on which is buying bitcoin these days.

I don't think bitcoin will reach 4K, and I'm still at the bottom of it.
Since most people are starting to feel desperate, it's a positive sign.

If the bitcoin price drops for the 4k price I think that's good for me, and I'll wait for the price to buy some bitcoins I want to have.

this article is talking about bitcoin as if bitcoin was a zombie that needs some ritual to resuscitate and to return to breathe. This is because there are so many news channels that are focusing on the price of bitcoin that even I see many people getting paranoid and very anxious to reverse this bearish trend. unfortunately I doubt the year will end with the price is more than $ 10,000. This is because I do not see so many great news capable of creating a lot of demand... we have had so many bad news and the price has fallen every month that has already become something normal


they are pushing hard for the price to fall, because they believe that when the price falls a lot that comes next is a big increase

From where you get such fake news. The price is still above $6.5k and it will not go much deeper hopefully. Soon it will start to increase and we will be able to see good days again.

I don't agree that crypto may sink to 4k. The price won't go below 6k and these has happened before and the price increased further. So, don't panic. The price will be increased very soon.

As we know the whole system of the cryptocurrency world is decentralized so the price of bitcoin is always changing. It's not a very big deal if the price of bitcoin falls, rather it will rise up somehow very soon.

I don't think the price will go below 6k. The same thing happened a month ago that the price went too low.Then again, it started increasing. The price will keep on fluctuating. There's no need to worry about that.

I don't think it could drop more and hit $4k maybe around $5k and I think the reason behind of the price decrease it's because of bithumb issue, but there is a good news about MT.Gox issue and I think no more dumping will happen so expect that the price could recover fast after the price drop below $6k.

Just remember what happened year by year the price is increasing every mid-year and 4 quarter of the year so expect for a bit drop then the price will recover to hit back the $7k above.

This is the time to see more good news these coming months that can push the price back higher than what we expected.

To all who thought that Bitcoin would not drop below $6000 : today is your reality wake up call.

Repeatedly testing a level usually means it will break. It means those defending the level are weak. This is true in both directions. (One notable exception is the $200 area in 2015)

What would you consider an "extremely small" chance? I'd say there's a higher than 50% chance by now. Ignoring everything else, we're in an established downtrend and there's no sign it's ending. Why bet against that?

That said, I'm talking about the bigger picture. $6,000 is the "last stand" for bulls; they should form a local bottom here. I'm just not confident it will hold.

I don’t agree with you mainly because of this perspective we all know btc is the best crypto currency also father of all crypto currency based on this you should not think like this yeah there are some problems but it’s not mean that it will be 4k $ as far I know it will be double after few days later.

Basically BTC is the one of the best crypto currency in the market also this crypto currency may lead the future world also this have good future value yes I appreciate that because of this reasons the price of btc get low but it doesn’t mean that it will hit 4k but it will increase soon.

Everything is possible right now dude, that FUD news has a big chance that will happen if the crowd will take that, but as what I've said to my other post, everytime that bitcoin will drop its price DON'T TAKE IT AS AN CRYPTO DISASTER, LOOK AT IT AS AN OPPORTUNITY TO ACCUMULATE OR TO BUY MORE.


my opinion only  ;D.

It is really hard to believe that bitcoin fall big this year more than 2/3 of its high ($19k+ to $6k+ right now). But it will not go down further more and i guess it will not gown for $4k. Maybe after hitting $5k this quarter then it will start to go upward.

everyone who is vested in BTC is hoping for the price to recover.

well, let hope..

From my perspective i think it is not the near of $6k it may be near of $7k. Now wait and see what will happen in the next some days.

Finding a bottom at $6000 or even $3000 below that level isn't that much of a big deal imo.
We dropped already about 70% and the overwhelming majority of new people who entered the space last year is already out again.
Now it is all about buying and having patience.
I buy now. I will buy at 5k, 4k and 3k.
Selling now makes no sense at all. If you can not handle the actual pain, you absolutely don't deserve the next x15 gains.
Simple is that.
Not my first bear market and probably not my last one.

What a worse news mate thanks for sharing.  By the ways i don't believe and trust on any negative news about the circumstances of the market especially on this kind of predictions since fuds emerged here in crypto , but as of now I'm not feeling well because the bottom price is already broke, and right now I'm really scared on this fluctuation which i have doubts now it will constantly sink ,

I don't really understand it so i read the news to make it clear to me.
The words that you used make its complicated. Well i go with the topic, Bitcoin is having a lower lows and moving down. Expect a fluctuations for a moment a days or weeks it will not go down straight up to $4k because it was exhausted.

Major fluctuations and sideways can be observe after this 5,800 is holding the support. Wait and see if we are more getting to that lows for this July from my Technical analysis.

The cryptocurrencies market is OK just that bitcoin get too pump last year that it has to makes this great corrections before next move.  I believe that new investors are coming into the market and bitcoin is getting into the hands of wises investors now like never before and that is a sign that bitcoin is going to recover with speed.

This news may share some investors out there. Many believes that the price will not get this low. Let’s see if the price really drops like this in future .

whoa, that's a nice fat green candle off the bottom! something like an 8% move on this one 4-h candle. :o

i'm not convinced yet that a true reversal has happened; this could just be a short squeeze. but it's certainly time to watch the charts closely and see if bulls are really winning the battle for $6k.

at least we saw sentiment get really bad, with most people expecting $3k-$5k or worse. that's a good sign that it was a real bottom.

Well i've seen a lot saying the price will go around 3k so saying the bottom could be 4k is a little bit conservative. Too bad for the people who can't hold for a longer time. Be ready to see a more bloody market.

It's mainstream media, it makes the read more dramatic hence more clicks I suppose. The article's got a point though, sub-$4k is pretty much reasonable at our current trend.

$4,000 seems abit low for me
$5,000 is kinda strong support level imo

Cost of producing a Bitcoin is way more than that if we drop to that extend

just because random people are saying random numbers as their "prediction" it doesn't mean it is a real "prediction". if i tell you 100 times every day with 100 different accounts that price is going to $100k will you believe it? then why are you believing the low price bullshit?

Yeah it's nonsense. Just because it's stable at 6k now it mean's "exhausted" lol. It doesn't need to be constantly growing, it's just finding a bottom, $6k is looking good for a bottom, miners may not let it go below that after all, just look at the big green dildo candle we just had, there are BIG buys happening whenever we get $59xx again and we get propelled back up. If all these people in the sidelines don't hurry the fuck up then someone else will, and this can start a FOMO cycle, and don't let nobody tell you if it can or not reach ATH, nobody can know how high FOMO cycles in Bitcoin can get.