Bitcoin Forum

The quiet before the storm is here. I’m not sure how much longer this sideways price action can go. A big move is coming. I still think we have a good dump coming taking us to $3000 before the next bull run. What’s your prediction?

Disclaimer: I’m Hodling

Ya its for sure. Current market dominance and other altcoins price surely impact on upcoming dump and pump.

3000 is too low prediction for me but i agree that 6000 might not hold. Perhaps after breaking 5500-6000 support big whale will appear and use those extra supply from panic selling to buy it and start new bull run. That happends. It may also find another support lower but in my opinion closer to 4.5k range.

Why most of the people that are predicting does have similarity in price? most of you guys are saying that it will go down up to $3000 before taking another action to go up.

When we reach $3000, the same words from them as well. IMO, I don't think we will be there soon. $6500 is a strong support.

Your thread will unlikely become FUD if you preferred the amount to be lower than $6000 USD that many consider being the floor for the price of BTC, But I would be guessing that the price of bitcoin would be down and the price that we might see will be at $5800 mark or $6100 for sure, and it will not gonna become lower than that, I am really thinking that the bearish market will unlikely make the value of bitcoin stiff and gonna come back and forth in that floor of price and will stay there until next year perhaps.

I think that the price of Bitcoin will not fall below 6000. In my production, very soon we will be expected to rise to at least 8000. I expect that the price of Bitcoin will be 10,000 on the New Year.

I think a big move is coming but over an extended period, so in crypto terms maybe not a big move. I think within the next 6 months we will either be up or down by 100%/50% in one direction or the other. Let's wait and see, history would suggest it would be the upwards direction but eventually bitcoin must turn bearish for the long term.

Well everything is destined to happen in crypto market

But about the $3,000 drop?no I don’t think that drastic bitcoin price can go before the run.maybe its enough to say that $4-5,000 is the bottom value before the great bull runs on the story again

Since both of us are holding the number one coin for long now.yet theres no good movements happening

I also believe we will see a dump, but down to $4888. Some people made a correlation between this value and the $188 bottom in the 2013-2015 bear market.

I believe it will happen until January next year.

i'm glad to see it's mostly bears in here! this bodes well for holders. :P


i'm leaning bullish. but i'm sitting tight waiting for a breakout, not trading right now.

the 2018 correction looks like a triple zig zag, ending with a terminal triangle. normally, a bearish flag would have fallen to new lows long ago. it would have made sense to crash again in june when bears made new lows. instead, bears were rejected into another sideways range.

trading wisdom says that a downtrend followed by sideways should imply continuation. however, since bears have repeatedly failed to force resumption of the downtrend, i believe we're creating lots of potential bottom sellers/shorters that will fuel a medium term uptrend.

I don't wanna see bitcoin down to 3000 dollars i think thats enough 9 months of dropping the value and the remining 3 months is for the pumping the value again. Big move will happen this month and next coming month so be ready and we will see again 5 digit value for the bitcoin.

For me I think $6000 price is strong enough and I think it will not go down to $3000 because I know people not want to see the price dump so they better to hold it until bull run start. And one more thing people experience a long bearish so they know what to do now they will not dump again.

Usually in most markets, whether it be stocks or commodities. When its in a long bear downtrend and the volume is non-existant it usually implies the bottom might be set.

Usually when the markets are choppy like they are today its due to lack of volume because most sellers are out of the market and there is nobody left to sell except maybe people selling on margin to short the markets even lower.

So anything is possible, I might be wrong and we might still go downwards but with the price action we have now with the low volume and the price essentially being like 15% from the yearly low, we might go up from here.

+1. It looks like the kind of long term base we see in stocks all the time. We haven't seen the "sign of strength" (to use Wyckoff's term) to confirm that accumulation is happening, but I suspect we'll see it soon in the coming weeks.

I'd say I'm 70/30 bullish. I definitely wouldn't rule out the "bear run to $3,000" scenario. But I'm still holding my spot coins and I also have a long open with stops comfortably below key levels.

 Uptrend in my opinion but not sure if it will surge to the current all time high value because market still not stable which probably around 10k before year end unless if the market growth rate constantly increasing until November which is a high chance to exceed more up to year end.

the only thing these two statements say is that you are either trolling or you are dumb specially since you are making a speculation topic!
if you truly think there is a drop of that size which is more than 50% drop then any sane person would not say "i'm holding", a sane person instead will think about selling so that he can double his investment buying back at the bottom after the 50% drop which he is expecting.

there are other considerations. selling triggers tax liability. and if he's in the USA or similar, that can make a huge difference because short term gains are taxed at much higher rates than long term (1+ year held) gains.

then there's KYC and banking fees. or, if he wanted to hold $ on the exchange to catch the bottom, he's exposed to third party exchange risk.

i only ever sell to cover real life expenses. otherwise i hedge with leveraged futures with a small portion of my coins. but i always hold my coins through downtrends. i've been bitten hard by exchanges over the years. between that and taxes, it's a no brainer.

plus, there's always the possibility that he'd be selling the bottom and have to chase back higher. not uncommon in crypto. it's what turns a lot of traders into hodlers. :)

The side way price movement has last for long and we expect that the bullish trend will soon resume.  I think thing are in bullish directions except something very bad happened to the market before we can talk of bearish trend.

I think up is more likely. If it were to drop down there was nothing keeping it from going down right now, there are no buyers and no hype so if anyone wants to bring it down they can and they would had no trouble at all doing it, the prices are staying still almost all day which means you can collect 50+ million dollars worth of bitcoin everyday for the past 50 days at these levels and than all of a sudden sell all of it together at once and drop the price, no one would have done anything to stop you.

However to get it bigger you would have to get prepared a lot harder and need bigger capital. So, I think we are preparing for a lift off. Usually how down a market goes, it will lean double to triple of it. I remember some Forex analyst told me about the downtrend, it is like a power gaining phase for a future upward movement, who knows, bitcoin market might be in power gaining phase right now.

the only big move that i can think of is the ETF approval which will be an upward movement bringing the price up to somewhere near $10k otherwise even ETF denial is not enough for breaking the buy support at the bottom which has been proven to be $6k and be very strong.
there is always possibility of unexpected things to happen but we are not speculating based on unexpected things but only what we can expect and predict.

A break upwards is many times more likely than a break downwards. The market right now is showing all the signs of being in the transition stage between bear market and bull market - low volatility, a stable price, sitting just above the firmly established bottom of the market. Also making this more clear is that all year Bitcoin has been bouncing around between the bottom of ~$6000 and lower highs: first around $11,700, then $9900, then $8500, then $7400. With the final lower high of the bear market only about $1500 above the firmly established bottom of the market there is no more room for a lower high to take place.

The only way for a bear market to continue is if like the OP says it broke down significantly through the bottom of the market, but that bottom has been established for 8 months and held support four times throughout those 8 months. There is very little reason to think the price will drop from here. We are likely looking at possibly another month or two of prices between the bottom ~$6000 and the last lower high of the bear market ~$7400 and probably by the end of the year we'll see a break back up to $8k, signally the start of the next long bull market which will likely last through 2020 or thereabouts.

I suppose it is even possible that a break out to start the next long bull market starts this month, but personally I think it'll at least another month or two.

The first sign of the start of the next bull market will be when the price breaks above $7500, thus ending the bearish pattern of lower highs that has been going on since the start of the year. And then when it breaks above $8500 to beat the second to last lower high of the bear market that will be the signal that confirms we are definitely in the very early stages of the next bull run. That will be the sign for any very conservative investors who still have money sitting on the side that you need to throw it all in. But right now is the best chance to put in money sitting on the side, as it is extremely unlikely to go lower ever again and we'll probably be looking at a rising price starting in the next two months.

This is probably as close as anyone has come to explaining my own thoughts, the market has little room to move now. The only worrying thing is that given what you have said, the most likely scenario is a positive one but if it's the negative one then I don't see how it won't be a big chunk coming off of the market.

It's not necessarily a bad thing if it goes towards the south. I wouldn't mind to buy more coins at even lower levels. It's going to take an insane amount of panic and selling pressure to eat through the buy support around the $5000 level, and even if the price dips well below $5800 it will likely be a brief visit from where it bounces back up burning plenty of shorters in the process.

Seasonality favors Bitcoin in Q4 and for that reason I'm more bullish on Bitcoin right now than I have been this year. 75% chance that we'll go over $7000 this month and I have gone long days ago to back up my confidence in the market.

One thing however is sure, whether the market breaks out to the north or south, Bitmex will be the real winner.  :D

We will see a big move up within the next few days. The bands are incredibly tight right now and the price has held nicely.

I'm still not sure the market will dump even $ 3000 quickly because the market is still in a bumpy state and the bull can come and ... ????

As of from 3rd quarter until  now the price id quite stables it doesn't goes below 5k margin, and in the last quarter will be an exciting phase because it is expected to pump up anytime as what it  happened last year, the prices today's would be the ample time  to invest, before its too late.

I also predict that it will go down more deeper, and its possible to touch the $3000 price before the bull run starts. But like i said it is just my own predictions and i cant really tell when it it happen, so i start to hold mine and set untouchable after the coming event of dip.

The uncertainty in the history of cryptocurrencies for the past three weeks is a sign that the bullish trend is about to resume and that is if the news is positive and if it is negative you should expect a very serious dump and crash.

Whichever trend we will resume from here is actually something hard to speculate. We have seen the market in a sideways movement for a while now, and the chances of seeing a break out soon as the triangle keeps closing up and hopefully, we will get to see a breakout upwards which is not actually something guaranteed yet coupled with the fact that in a market when things are like this, break out can be in either ways, so the best thing to do is to just wait it out and let's see who ends up winning this fight, and even though the bulls have been making some statement lately, we still have some direction to face before knowing any possibility.

Hard to tell! It has been a sideways market and things are getting pretty tight already as we keep approaching the apex of the triangle and the chances of seeing break out soon is getting pretty close, but at the same time, all we can just do now is to be patient and hope for the best, and if the worst even comes as we go down lower, the best is to take advantage of it by buying more. Being in Q4, a lot of optimism in the market, and the way things are going with institutions, one may actually want to think the likelihood of seeing a break out upward is there, but in a market, nothing is predictable and nothing is guaranteed.

 The market is moderately grown steadily and it is hard to foretell its either to go up or go down due of its nature volatility. But at least if the value will move immensely, then people's speculation will lighten up for the accurate accusation. And I know most of us are hesitating that bullish market will consistently be stable. Let us be a good motivation for engaging the good development and fast progression of the market, so we can celebrate the great thrives by the end of this year.  

I pretty much agree with your prediction, but the lowest that I see prices go is probably $4k at the moment. But I do think that a dip or two are still going to come our way before prices actually start recovering.

This is pretty much based on the previous cycles, especially the most recent bear market of 2014. Obviously it's not going to be a perfectly mirrored version of that, but it should be fairly close given the cyclic nature of the market within bitcoin.

Though, for now until the end of the year most likely, I think we'll still consolidate at $6k and see prices stay put and move mostly sideways without any major movement.

Yes, it's calm now and you can take advantage of it by trading small bits. During this time, it would be in favor of those who have large funds because even if there is only a little percentage of movement, they can still get something from it unlike for those who have small funds who will have to wait for it a big movement before they can say that got a significant profit from it. I prefer trading in a short period of time due to the uncertainty of the market.

We are actually in a market where nothing is predictable and so is every other market anyway and all we have to us is the trend at hand. Obviously as it is, the market is trying to look for a direction and the possibility of seeing a break out soon is getting imminent.

Where we break out to at the moment will actually determine what the market would be like but however the move wants to be, we still have a point below us that has really formed a huge support and only when we break lower than $5700 before we can actually get to see any major big move, but for now, nothing is certain.

Waiting for a big wave. If the wave is in the upward direction, it will be good for us. but it won't take long. If the movement is negative, it may take a long time to recover. but investors who know this situation will turn the situation into an opportunity.

No one can predict the future as that actually does not make any sense at all. The only thing you can do most of the time is to just monitor the trends and then see how you can at least take advantage of it when it comes. No one can see tomorrow, and either the market goes down or up, only time can tell. Nevertheless, the bitcoin market is in a sideways movement at this point and the possibility of anything is still intact, which could be either tending towards the bears side or the bulls side but whatever it is, I guess the only thing is to take advantage of any side that comes.

yeah, that's right, no one can predict to be very accurate. everyone just speculates on their price target, but I feel more that is hope. well, I also hope that the price of bitcoin will be a very high pump in the future, but of course it's just speculation. despite so much good news lately, but until now I still haven't seen bitcoin prices rise significantly

I think something big will start Oct 14 because of the simple fact that the price has no more runway. It must break the trend in either direction so my bet is up by an order of magnitude coming year.
Made my own stupid nice little prediction graph. I hate these, but why not =)
https://i.imgur.com/DyMTDIW.png

price could stay sideways right through the triangle apex. i've seen it dozens or maybe even hundreds of times.

they're just made up lines that we draw on a chart, ya know :P

according to bulkowski (http://thepatternsite.com/dt.html)---

in my experience, anytime we get near the end of the apex, the "breakout" is less reliable.

Who can say like this? it may be up or down and no one knows this reality of price increase and decrease which wholly depends upon the demand rate when increases the price goes up and when decreases price goes down. Its major dependency is only on demand rate and nothing more affects much as compared with the demand rate. However, the market will recover from current conditions into favorable conditions once again in future upcoming days and can happen any time.

Trust me; I would not believe anything at this stage until I see the market clearly break out. I am actually very optimistic myself with the whole market actually channeling towards the bull side but as long as we are still moving sideways, which shows apparently the bulls are trying to make a statement as well as the bears, market can move to any direction. Nonetheless, however the market comes; either north or south, at the end the opportunity will still be there. If it goes down, we buy more, and if it goes up, it is all good as well. At this point, all we can just do is to be patient.

What is even mostly important when it comes to a market is to understand the reason why you are actually in that market in the first place. The only reason some people can come up with is because they want to get rich and the idea of trying to fix their minds on the long term becomes a problem.

Taking a look at the way things are presently, I would say that the market can end up moving to any direction at all since we are inside a triangle and have been trading sideways inside here now for a while as we get pretty close to the tip of it and the chances of seeing a direction pretty soon is imminent, what we can do now though is to just wait to see how things would eventually turn out.

Yeah I usually say that too but this time the price behave like a damn clockwork for 8 months. Just take a look below at that last dip after I drew the first picture (exactly on the line). It's not made up lines if everyone is following them. Self fulfilling prophecy. Maybe it will stay calm right until Oct 30.

https://i.imgur.com/z7c5R8e.jpg

If the price of the bitcoin really decrease to 3000 dollars for sure the price will pump fastly because most of the people will turn to cryptomarket to buy more bitcoin to get more profit and price of the bitcoin will increase maybe more than the highest price of the bitcoin reached in the year 2017.

I really would not be placing any bet on the market at the moment until I start seeing a clear direction of the market and even in this case, I will always be careful for a fake breakout as the case may be as this is always the time when manipulations can actually skyrocket hugely. The market will most definitely have to break the trend in one direction and that direction is obviously what no one can actually tell and that would basically ball down on whether the bulls or the bears end up winning the fight. Your prediction graph is not stupid, it is just simply trying to observe the trend in the market and act accordingly.

Worldwide, there are many political tensions are going up and investors are already started securing their capital but for the case of cryptos it may go at any direction which is purely based on how institutional investors opt for. Because, few of them already recognized cryptos as a good alternate for gold/silver but many other yet to analyze this space :(.

I think that the price will not down than $6000 and to my knowledge this is the bottom price for bitcoin, because if the price dips more than $6000, the supply of bitcoin will reduce because of no mining. Bitcoin miners already mourn that they are not making any profit because the price is very low and they may stop mining. That’s why I say that the price will never below $6000.

I can tell you there is no bottom. That is false information. If price is reduced so is mining and then also the mining difficulty which makes it more profitable. It's always a balance. That's why most mining is in China because they have cheaper electricity. Bitcoin can be mined at $0.01 and $100k, doesn't matter. What's changing is the amount of required electrical power from main grid which already is insanely high. Only bad thing that could happen is if every miner stopped at the same time. Then there would be no more blocks and the difficulty ratio can not be reduced. Bitcoin would cease to exist until some more blocks are found or the protocol is forked and changed (like with Bitcoin Cash that has a mechanism that lower difficulty automatically if there are no blocks. Arguable is that's good or bad. It certainly caused some extreme instability last year when it was launched).

If there is a price resistance I would say it's because bitcoin has changed hands so many times now that most investors bought last years levels. They simply can't sell and make a profit and this alone would not trigger a bear market. They rather hold. It's more likely a bear market is triggered by a really bad news event. That is my theory at least. The first is something that happened to Nano a few months ago. Some whales got Nano a really low price and forced the marked (at profit) really low without any real reason. Now most nano have probably changed hands into a broader public and unlikely we see one more event like that.

I think that there's still a chance of us going down to 5000 but the possibility of breaking up is bigger. The ETF decision will play a big part in it. If we get an approval we will go up if not we could be trading sideways until 2019. Bitcoin depends on the news too much and people are in panic mode this year.

Yeah but taking advantage of small bits, you need to be aware of the market every moment to catch the chance for making profit. These corrections are good for smart investors. That’s why I always prefer bitcoin trading for making big profits in short time instead of holding coins for long term. I am also looking to start trading in the near future. hope I will find it profitable.

During this calm moment in the market of crypto, there could be institutional buyers and whales hiding in plain sight buying discreetly to unload something that will make the move of the year. We should not expect too much though for us not to be disappointed whatever the result may be.

We should keep our hands cross and see what is going to happen.  I think we are at the moment an undecided level and the uncertainty is very high and the best thing to do is to keep holding. However I see more of the bull run than bearish trend in days, weeks, and months to come. The $6000 seem to be unbreakable and bitcoin will have no option than to go up again.

Right! This is actually the time to take some chill pills and then look at the way things turn out at the end. However the big move is going to come, time only will have to tell. There could be a possibility of the upper line of the triangle being tested again and then breaking it, but for now, nothing is actually that certain yet, but we will get to see eventually how things would end up in a matter of time.

Hope that your predictions become right otherwise till date no predictions become true and always against the facts. I always believe in the current situation of the market and never focus on predictions. The only thing which can bring change in bitcoin price is people’s trust. If people trust in bitcoin they will invest in it and the price will move up.

Ups and downs I think are natural. It is a currency and every currency in the world is not stable. Volatility is builten with currency. Crypto is new digital currency and most of the people still do not believe in it. That’s why the price is down. But when people realize the importance of bitcoin they will come towards bitcoin and the market cap will increase rapidly.

What do you mean by up or down? it means that you have no idea about the current and coming situation of the market and just asked a question about your idle prediction. If you know that a big move is coming then you should also know that this move is upwards or downwards. This is strange. Move is coming but I don’t know about what. Please spend your time in some good topics.

I can't see what is the point of such prediction. It's always either up or down so you have 50% chances to be correct. It's just for saying something but there is no any use of such posts.
But seriously current situation on the market isn't showing some indicators of big change in positive or negative way. Although many are expecting big price growth by the end of this year I don't think this is going to happen. Investors are still very cautious, movements of price are very small and some biger demand is not at the horizont.

It won't happen even if they might happen the whales won't let that happen because the cryptos will starts to extinct if the mining has no more profitable that is why the whales won't let the prices fall below $6000 if that happens then most of the miners will stop working.

In my opinion no big move for a while in the near future too because people already getting familiar with it and the weak hands are moved away from this market.

This sideways trading movement has gone on for a long time now, eventually it will move but most likely it will go up. Miners can't afford for it to drop to $3000, and whales will swallow up any cheap coins that go below $5000

For that mate, maybe I would not expect any worst scenario to happen yet. If weak handed people will continue to have that kind of mentality we will not go into progress. We will remain to this situation that we're facing right now, and not certain growth will ponder, while many projects awaited for a good profit to withstand.

You are right that we should not expect our desires from crypto market and should remain cool and calm about the future of bitcoin price. But one thing is very necessary and that is we must be positive about the future of bitcoin and try our best to convey knowledge about cryptocurrency in our locality. When investors in number increase, the price will also go up.

No big movement is coming in either direction this is going to be the reality for bitcoin for a very long time and even if people do not like this since the opportunities to make money are very limited in such a market this is what I believe will happen, and it seems to me the current state of things is going to extend itself for years before we see any kind of recovery.

when viewed from the circulation of the cryptocurrency price has reached the end of the year then the cryptocurrency price should be very expensive and should the cryptocurrency price at the end of this year increase the price.