Bitcoin Forum

How do you respond to comments made by Bitcoin critic Jeffrey Gundlach, CEO of DoubleLine management. He estimates that Bitcoin can reach $ 5,000 in the near future. Gundlach notes that investors who have a high tolerance for risk can make easy profits if they want to trade Bitcoin.

The question: is it true that currently Bitcoin has changed with fairly competitive volatility ...?

Source: https://www.newsbtc.com/2019/01/11/notable-bitcoin-critic-claims-price-likely-to-hit-5000-in-near-future/

FTFY,  8)

This is not too far from reality. Bitcoin might have been down but it will certainly go up again. As the price now is around 4,000 $, it is a possibility that it might hit that level. But as to what level should bitcoin be stable is something that needs users' help. Without the regular users, bitcoin values could drop significantly even with so much promotion it gets. Application or usage of bitcoin is very much important for the survival of this coin.

Currently it's $3,645. I had the news that if the price breaks $4,300 then it will easily hit the $5k mark but if the price goes down more than the current price then Bitcoin price could hit the bottom too. The market is unstable. Few days ago it was trending around $4.1k even yesterday in some point it was stable @$4k but suddenly it started to drop and holding the $3.6k so far. Let's see.

That estimation is not that far from the current bitcoin price. I believe that it can hit 5k easily and maybe a little bit more in the second quarter of 2019.
It needs just a stimulus to do so (I don't know what this may be). I think that by the end of 2019 (which is still a short-term estimate) Bitcoin price is going to soar near $ 10,000. It is just my feeling though I cannot relate it to any news.

Hard to know. All factors currently affecting the market suggests a sideways movement, starting with bakkt cancellation, new regulation imposed and services developed by institutional investors in the ecosystem. We've been range-bound as well for the last couple of weeks, with highs coming up to $4000 and drooping to $3600 during most times, until we cross that $4200 resistance at the time of writing, we might see $5000 being broken anytime sooner. Markets have been lousy these past few days too, so I don't think $5000 is a possibility just yet.

Bitcoin is fluctuating currently between about 3500 and 4200. If either of those levels break then it's not more than a 20% movement in either direction to be above $5000 or below $3000. The only real question is which level will break first. I do believe that unless there is some negative news that the more likely scenario is an increase, with or without positive news.

All i can say is that nobody believed that bitcoin will hit 10 000$, the same goes here. Everything is possible, but one thing is for sure, no matter the price the technology behind bitcoin will change the economic world so this is a good reason to invest in it.

It is amazing how the price exceeded the $ 5000 barrier on the up and down, which means that the barrier is a crossing point for higher stability levels at $ 6,000 or lower at $ 4000 or $ 3,000. In other words, access to $ 5000 does not mean anything.

Price is not important, the stability we are witnessing is a healthy indicator.

Easy,it may reach $5000 in near future or later but now condition seems much worse than how it was when beginning of this year,I wonder this news can act as catalyst to bring something to the market?

For me its nothing changed still the same volatility range and resistance level at $3500.

Quote me! Bitcoin will price will reach back its ATH and go beyond, and also remember high reward = high risk.

The volatility in Bitcoin doesn't change. It is just the market that grows broader, I believe in the future as Bitcoin gain more popularity at some point in the future the volatility will decrease as the adoption already widespread, and the mainstream already well-understood the underlying technology of cryptocurrency.

We are really not that far away from 5 thousand dollars to begin with. This is not some major prediction like it will be 100 dollars or 100 thousand dollars, its just a thousand dollars away, about 20% or 25% away from reality. Considering bitcoin moves up and down 25% almost all the time it wouldn't be a shock to any of us if price moved from here to 5 thousand dollars.

Remember we moved from 3300 or so to 4200 in a week once, if we can move from those levels to higher than there is no way of bitcoin missing a chance to move from 4200 to 5600 again, it is not expected right now and we are not going to the right direction for sure but all I am saying is if it were to happen none of us will be like "how did this even happen" because we are all used to the fact that bitcoin moves weirdly all the time. I wouldn't be shocked about 2600 as well as 5600 to be honest.

It sounds good but I don't have an idea how this could happen in near future and we see again 5k. When we look to recent prices, 5k means almost a 50% raise. For a 50% raise, we must have a good news or an interesting story that could persuade majority of investors and potential buyers.

Good news pumping the price during a bear market? Good luck waiting for that. On top of that, every quick increase will be tanked back to where it started at, so don't hope for miracles to happen any time soon. The same applies to people hoping for a massive short squeeze to pump the price. People fail to understand that short squeezes don't represent actual demand, and thus will be sold back down quickly.

I like how there is nothing at this point that will make the price pump hard. It makes people get used to this side of the market, and helps them understand that 2017 was something out of the ordinary, and not a normal happening in crypto. People who entered in 2017/2018 legit believed that crypto could only go up in value, lol.  :D

I believe more with each day that news has very little bearing on the crypto market. At least in the short term. Anyone hoping for a increase in price is foolish to wish for a quick rise because that will only lead to 2017 all over again and that is not healthy for the continued success of bitcoin. 2019 is likely going to be largely sideways and that's not all that big of a negative. It allows time for people to focus on adoption and use rather than purely being fixated on bitcoin as a dollar investment.

I agree with him, 5000 isn't some big deal. People always go to the extremes in every market. When the price is going up they overshoot by a lot, like the famous predictions of John McAfee and Tom Lee. When it's going down people also go to the extremes seeing sub 1k Bitcoin and things like that. In reality, the price of Bitcoin should be sitting above 5k right now, that's my opinion based on how the market was acting in 2017, when we were breaking $5k. Fundamentally it was the same Bitcoin, only slower and less robust than it is now, and people were happily paying 5k for it, and not for a week or two, it was months!

I believe we are going to a new ATH this year, but we still haven't seen the bottom IMHO. Bears are still in control, but once we hit that bottom beware because the honeybadger will be simply VIOLENT.  :D 8) Institutional investors have been surely making some big bags and they will want to see some big returns.

He's right. You don't need to believe in Bitcoin to be able to read a chart and see the potential profits of trading it. I also tend to agree that $5,000 or so is a reasonable target. With the long term MAs now descending below the previous $6K support, that's a likely reversal area. We might see $5,200-$5,400 if we're lucky.

Guys, how much can one pay attention to the various forecasts of all these experts, if we all know that no one can accurately indicate what price the coin will be in the future? All forecasts are just guesses and most of them are made for manipulation and for one’s own self-interest.

I think that Bitcoin will go to 3000 USD, or even lower levels, before 5000 USD mark. Right now, for me it is hard to do anything with this market, because of that I waiting for zones of interest.

Yeah, i think it will not go lower than the resistance again, this current dump maybe is just a result of failure to break the resistance but I know in time, we can go back to $5k level again. Speculators are still positive, the market are still holding on and we should be patient for that, before the end of January we will see a good price.

$5000 seems to doable, but obviously there's a lot of barriers that we need to overcome before we can reach that levels. $4200 seems to be the biggest or the hardest barrier to go through, we already touch it but it didn't sustain any momentum so it's going to be difficult to get to $5000 but possible.


Right, but this guy give some reasonable prediction. As compare to those so called "experts", who predicts exorbitant price which we all know won't happen because we're still in the bearish market.

that might happen, because currently it's missing in the bearish area, which allows the figure to reach the level of $ 3000. but hopefully it doesn't happen, because there will be many psychological victims

I don't get how they continue to stick to their flawed metrics that applied to 2017s bull run, by luck, but make close to zero sense today. It's like they completely ignore the crypto bear market for whatever reason.

Tom Lee ended up lowering his EOY prediction to $15,000 while it was more than clear that it was not going to happen, especially with how December and the first quarter of each year have proven to be a bad time frame for Bitcoin.

If Bitcoin did what it has been doing consistently throughout its existence, which is pump and dump hard, how likely is it that it will happen again? I would say extremely likely.

Charlie Lee (Litecoin creator) publicly called it before it started correcting.

These critics are no experts just people in the media that chat about bitcoin to the masses. The prediction is as good as any kicking around at the moment. It could jump to 5k or drop down to 2k by the end of the month

I was expecting the price to go up to that level this week but instead it dropped back to $3600. I have seen some expert predictions that the price of Bitcoin will get to five thousand dollars, a lot of people has predicted that already, so it might happen. But what about those that said the price will drop to two thousand dollars? That’s something else you shouldn’t neglect.

I don't think experts are really that much experts neither, how can you be an "expert" in bitcoin when you have no idea what makes bitcoin go up and go down. These so called experts probably see that SEC is potentially accepting the securities deal and then they see Bakkt trying to build a platform for constitutional money and got hundreds of millions of dollars in funding which means they will probably manage to get it working.

When you combine all these great news together there is a big potential of bitcoin going to 5 thousands dollars, you don't have to be an expert to know that bitcoin has a big potential to go up now. After a whole year of bear market and couple of upcoming great news, it is bound to eventually go up, they didn't say like 50 thousand dollar neither, just 5 thousand which is something pretty close to our current price.

There is a chance to get 5000 dollars for bitcoin if the current trade ends with a sharp upward movement. To form a reversal pattern, we need to move upward rapidly. The growth in the previous week really inspired me, but then it fell into the area of ​​3600 and again flat. This is a bad sign, and I expect that there will be a further fall after rising to 4200-4500. And we will again update the lows. It is sad, but I am considering just such a scenario. I hope that I oshayatsya and growth after 4200 continue. After 5000 it will be much easier to move upwards.

I think that estimate will be true, the market conditions will improve and the price of bitcoin can move up, so that the 5k price will be reached by bitcoin in the near future.

It is easy to make predictions like this, because you know there are a possibility that the Bakkt proposal might be approved and this will allow for institutional capital to trickle into Bitcoin. I do not predict anything, because I think a Bitcoin ETF will not be approved soon.

The regulators wants full control and surveillance over all aspects of the financial sector and Bitcoin is not 100% regulated. Some markets are unregulated and manipulation is possible in these markets.  :P

Bitcoin volatility is so big that reaching $5000 can be done any single moment. As dropping to $2000. I don't think that anybody can predict the next big movement and almost all are speculation and pure luck. Hold your crypto and hope for better days.

For now, its most likely to happen just wait for huge story like " Bitcoin is accepted as payment in Amazon" and viola, you have that 5000 price in an instant. What I prefer is stability. It will solve numerous problems that bitcoin face like adoption.

Anything could happen with bitcoin price. Bitcoin once reach $20k and i think its not impossible to reach $5000 and i am still believe bitcoin will reach new highest price in the future.

Seems like Jeffrey Gundlach is near to hit his predictions. Though he never stated when or what particular month that bitcoin will gonna reach $5,000 in the future. Since it broke $4,730 price as of today, it is really possible that bitcoin will finally reach $5,000. Well, good news for investors like me who are waiting for that bull run since last year.