Bitcoin Forum

Bitcoin price almost reached the $4000 level according to coinmarketcap $3,997.42 USD (1.19%) but we are not yet on a bull run and the price is expected to go down again but there is a blessing attached on it


https://www.ccn.com/bitcoin-price-fall-3700-good-for-crypto

What are your thoughts?

It's always like this, there's a lot of speculation last year that it will grow up but nothing happens. My advice is to chill out and wait for the bump, solve it using standard deviation for you to know that it will grow up. Spreading this kind of article/news is non-sense 'cause some of it are not accurate.

Traders are repeating this because they want it to happen and want to increase their chances. When you know something will happen and nobody else knows you keep it to yourself to make money on it. When you know it won't happen without the masses participating you try to make them participate.

yes it does help actually  . sharing your thoughts to others can also make them more interested and attracted towards investing on cryptos . now if the info have spread across different forums or on any other social media sites  , that can probably cause a massive pump in the price and that is a good thing because your efforts arent wasted  but keep in mind that the pump couldnt last forever as cryptos will always tend to fluctuate from time to time  .

No one really knows what's going to happen and those you probably know are never going to share that information. There are dozens of traders and each one of them has a different speculation so the odds are even.Price could go either up or down anytime and we can't do anything to change that so we just have to wait and see. Anyway, for me one thing is certain. I think this year bull run will start and the price will at least double in the next month.

Its hard to tell the possible trend but I think we already hit $4000, a little short to break that wall but I think there will be no more dump as we are growing everyday. Bitcoin price will become more expensive again, its time to wake up the bulls. Just hold for now, and don’t panic if there’s a dump because you will just lose money and the opportunity to earn.

the terminology that these shitty news sites such as ccn use are so funny sometimes :D

"plunge" to $3700. and the even funnier part is that this kind of drop is not even considered a "plunge" in any other market. if you for example tell some expert stock trader that some asset "plunged" 1-2% they will laugh their asses off, and if you tell them it was bitcoin they will probably die of laughter since we don't even consider 10% a "plunge" let alone a tiny 1-2% drop.

The uptrend has stopped and we might see a pull back soon, I'm hoping it will recover gain.
I'm more unto long term trade so I'm expect a bigger price, of course bigger than $4200 based on the prediction.
If the trend will continue it's all good for us, I haven't see this kind of great volume for awhile, once we crossed over $4000, a real run will start.

I was expecting that bull trap.It's funny to see how many optimistic bullish posts appeared on the forum during the last 2 days.All the noobs posting "the price is going up,are we goona see an ATH soon"... ;D
John McAfee went out of his rabbit hole to make some ridiculious predictions again. ;D
It's all over,let's keep waiting and HODLing...

For the past three days bitcoin has tried to break $4000 arear but it seemed very difficult and that means it is going to fall back a little towards $3700 in other to gather momentum for next bull run.  However it seems the long bearish market is about to be over.

- Expect plunge to a new low for 2019, if not one even lower than 2018's low. This has been the expectation for a while now, get on with the programme;)
- The longer this "bear", the better. It's already a blessing for anyone who missed out on pre 2017 bull, like yours truly.
- Still too many bulls not yet consigned to defeat. That's always a big sign it ain't over and we're still in the woods with the bears.

a $200 dip is considered a "plunge" now? ::)

but yeah, this might end up bart topping. if i weren't already long from lower, i'd look for a ~61.8% ish retrace of the 2/18 rally to get in. it would be a dip buying opportunity IMO. this rally still has legs.

I think we will EITHER go up from here to $4200, break it and head into the $4500-6000 area. Which means that we are at the bottom pivot right now.

Or we end up going lower and retesting the $3100 or 200WMA area.

Looking at the weekly chart shows that since Dec 2017, Bitcoin hasn't been able to close above a weekly candle pivot. So the $4200 is the real test.

yup, we're really close to making the first higher high since the 2017 top. so i figure, if we break $4200, there should be a real short squeeze towards $5k-$6k as bears and old money pile back into the market. that's my current bet.

either way, i still think we have a long, painful grind ahead of us for most/all of 2019. and i'm not sure $3100 is the lowest we'll go either.

Probably this time surely we'll head towards $4500-$6000, because already we've experienced the similar growth pattern where bitcoin crossed and once again went back to $3600 range in no time. Upon that this time the growth will continue gaining resistance around the $4200 price point.

there was no plunge, what i see is still the same $3920 on exchanges which means any price that you (or the article that was quoted) saw was the normal daily fluctuations and the price is still on the verge of a breakout above the big resistance at $4k which can then lead to the subsequent rises and "official" end of this accumulation phase.

You are right! Sometimes their terminologies aren't really right at all.They should really based on the actual percentage on where the word "plunge" would fit.I've been
reading up every now and then or everywhere about start of the bull run? With that price increase its just a typical normal day on crypto.Small percentage rise or decrease
wont really even surprise me.

That wouldn't be shocking at all. Bitcoin always goes up and down, that is what bitcoin has done since it has started, this is not a marginal school of thought neither its just $3700 to begin with so why would that be news worthy to begin with.

Bitcoin was about around $3400 just a week ago or so, that means we have moved from $3400 to $4000 pretty quickly, moving under $3000 would have been a news worthy thing or going above $4500 would have been news worthy but moving to $3700 would be something everyone could expect and accept.

It is not in our intention to see bitcoin fall and we hope it always goes up and never drops but in reality that is not the case and we fail to calculate the fact that bitcoin is speculative so there needs to be ups and downs in order for traders to take profits and reenter the game.

Meanwhile, I will try my chance to trade bitcoin pair usdt, and who knows I can make a profit even if it's small. I am okay with the up and down of the price because we could try to search the opportunity to make that profit. But yes, I realize that this situation will be riskier since no one will know where the price will go. Only with deeper analyze, we can try to make a buy and sell, but if we cannot make any analysis, then it's better to leave the market for a while.

More to come the price of bitcoin is not over $4100 and it keeps increasing definitely some positive things happening since 2019 so better keep up the hope and expecting more price increase in the upcoming weeks.

As what you have replied on this now Bitcoin price is now 4k dollars crypto market price. Yes, no one knows and now I've seen the market painted with green colors and I think if this is not a bull trap we are now started on bullish trend which is all people want. And we hope that the price will not back to the bottom range which is very sad to know. So, therefore, no one expected the price on Bitcoin.

Ok, the price just surpassed $4k mark, so definitely something is brewing inside and this might be a bull run is the making. But I won't be too excited, not yet, it might not sustain this run so we need to observed in the next couple of days again. But definitely, its not going to $3700.

I'm not sure what a "new low" would be for bitcoin, as it's only existed for 10 years and was essentially worthless at its inception.  Maybe if you said a 52-week low, that would make sense.  Anyway I don't think that's going to happen in 2019.  I have no evidence for that of course, but I have a strong feeling we're going to see some price action this year--maybe not $50k or even back to the last ATH, but we'll get out of this range we've been stuck in for months now.

Very nice to see bitcoin breaking $4000. It's not an enormous gain, but at least it's some movement upward.

this is towards a new point and my predictions will continue to advance, if it continues to reach up to $5K in the next week then maybe it can be ascertained that 2020 will be the most powerful bull for bitcoin but still need to be alert

Bitcoin is currently above $4000 and I don't it will fall to $3700 now because the market seem to be in uptrending. If bitcoin can break $4250 we should be seeing it above $5000 very soon.

It looks like the market abide by this technical analysis and the gains from the market rise are lost in a matter of hours and i am not sure what to make of this situation, the future market might be the cause of this correction, what ever be the case if the market reacts like this every month, then it will take a long time to see some good recovery, waiting to see how low the market will go this time and the time it takes to recover from this situation will give us an idea on how the market will perform in the first quarter.

Bitcoin price going low to $3800 happened all of the sudden when people were speculating about the price reaching $4500. Possibly the growth with bitcoin always happens with price fluctuations. One such is happening at present with the market.

Seems like that they have had this one spot on.

In recent days there has been a trend reversal of sorts, but to be quite frank, I don't think that the main stage of the recovery is anywhere near us right now if you look at the trends in previous bear markets and how long they've lasted. I understand that they won't provide an 100% accurate image at all of this current bear market, but since bitcoin moves in distinct cycles of around 4 years (halvings), it will provide a rough guideline.

There has been a lot of FOMO that has sparked this current rally, which led to the significant increases in price of BTC which imo was unsustainable in the short term. Thus, an adjustment was inevitable even though it seemed for a while that we've entered a phase of bullishness. This dip honestly provides quite an interesting buying point that I think traders should take, imo.

It was kind of expected, I agree. Many started celebrating too soon, dreaming about Bitcoin price to cross 10000$ or even more forgetting how easily price can change in both ways. Nothing terrible happened, it's just another correction but I'm just trying to say that it's not good making conclusions and predictions too soon not knownig how market actually is functioning and how behaves. In the current situation it's better to make short term decisions and choices.

Well said it would plunge back to $3700 as soon it hit over $4000 was a spot on event.
Happened all in a matter of 24 hours.

I wouldn't say that I expected the climb back down to exactly $3700 ranges, though I know that the rise wouldn't really hold for long considering that the foundations for the rise were bleak. We're not yet in the time wherein a trend reversal is going to happen as it's still too early for such, or the conditions aren't that suitable yet for yet another tremendous rise in price. A lot of FOMO is still needed, and we don't see that here on this recent rise.

You should consider that again. After 3 days of a green market, we reached over 4k but just a few hours were needed in order to settle down again to a 3.7k approximately.
The market is fluctuating so much and mostly it goes downwards. As time goes by, I think 2019 will not be a good year for the blockchain industry as well. We don't see any rise in the price for a long time now.

The price may have not held for long. But I believe that breaking through that resistance level ($4000) was a positive and would make it easier to break through it again in the future as the foundation becomes much stronger to sustain higher prices.

Some say we are yet still far away from a bull run. Does the unpredictability of the market not mean that the price could pump at anytime?

I think many big players would have sold and booked profits due to which market cane back to 3800 again from 4200$ . It may be just for short time and can bounce back again and this can bring again happiness on the face of people .

Well, it semi-happened. Traders were kind of right but honestly its just not a big huge guess, bitcoin was always going up and down, look at the past 2-3 months, bitcoin price hit over 4k multiple times and went down so why would that be a surprise that it hit over 4k again and dropped again, that is what traders want anyway.

If you have a coin that always go up, always go up than there is absolutely no point of "trading" it, you can just buy it and than keep it until you want to cash out and buy something or even pass it on to your kid.

If there is a coin that always go down than nobody would use it. This type of ups and downs is required by traders so at best they can sell when its at top and buy when its at the bottom (sometimes people fail to do that) and it happens all the time to feed the traders, it was highly expected.

Thats how trading works, especially with this bear season. If you see a glimpse of light, grab it and dont miss the opportunity to acquire good profit, then make a good buy back entry point after.
Big players and veteran traders are the people who usually had an accurate speculations regarding the price movements, since they were the first to feel it even at the slightest price changes.

Indeed, those people who had more tight visions in trading will always be clever enough and will show strong actions towards trading. Even though they felt the slight price, that doesn't mean their losing up their grip on their holdings but rather keeping it safer. Once the time market became greener again, there's a better ways for the market of our coins to pump. Lets wait for the best price to come, and am happy with the consistency seen after sudden fall that it recover eventually.

Its reset from above 4000 but I wasnt ready to call it negative just because of that so long as it can regain the 8 day average.   So far its flopping on that achievement so far, maybe tommorow but Im not rating it bullish till it gets above the blue line here -

https://i.imgur.com/WsB77Ue.png

Its pretty neutral till it loses previous high about 3675 or so and thats roughly the 50 dma so good area for watching

It is truth and I agree that the current area is actually a  strong area to watch!  If the resistance around $3700 hold then we should expect bitcoin to resume it upwards trend but if it is broken then bitcoin may fall below $3000 this time around.  It is advisable that we should watch carefully and analytically before investing because there is a bit uncertainty around the current market conditions.

from $3700 down to $3000 is a lot of different values that each have a very strong support line. starting with $3500 and then $3200 which is the actual strong bottom so falling below $3700 is meaningless and it won't have any further implications, let alone showing a fall "below $3k"!!!

as for the rise, it will happen but before that we will see $4100 tested a couple of times and fail before a sudden breakout happens where price shoots up to near $5k and possibly even higher.

I might say there are some that are anticipating the drop of the price because some had analyzed the recent chart of the past and If you would look and rely on it, It is not really time for the bull run to happen, But there is a very strong safe bottom line for the value of bitcoin now I really think it can be at $3000 and $2500 USD but even if there is a safe line for it there can always be a drama that would let it slip down to $2000 USD more, But we can not say for sure because as the analysis of the past charts and forecast on some sites the big lap for bitcoin will starts at 2020.

There is nothing bad on keeping positive and expecting in the good price but we need face the reality that if we want see good price in the upcoming weeks we need to support it. Supporting the price of bitcoin in the market and increasing the demand will totally lift the market.

Based on when that article was written on 2/22, bitcoin dropping to $3700 doesn't exactly qualify as a "plunge".  Maybe if it fell to $2500 or something, that term would be valid but not when bitcoin was basically at that price less than a week previously.  I think CCN is just using words thay have stronger meaning than what's justified, and that's pretty typical of any media outlet--and that's why I can't stand reading or watching the news, not even news about crypto.

And here we are a week later, and this weak-ass prediction that anyone could have guessed has come true.  Big deal.  What we're seeing is just normal market fluctuations, and they're not even really severe enough to warrant attention.  Bitcoin has made much wilder swings in the past.

Bitcoin has fallen in the article after several days of increasing and falling back to the level of $ 3800, today looks stable and calm.
I don't think it will fall back but it will rise slightly even though it looks slow.

These crashes are very normal, because the market in the accumulation phase always tests at different points of the phase, they need to test offer at new levels, and low because they need to take profits, however it is possible that they form liquidity zones where they have to lateralize a good time and prepare for an important movement.

I looked at this post and this news and yes these guys of the news were able to get it right in their analysis, of course it was a great coincidence, but they managed to get it right when they said that the price would fall, did not fall much, but fell from $ 4000 to $ 3880. Next move will be: either the price rises and exceeds $ 4200 or the price fell back to the $ 3600. In the next few days we will see which of the options will be

This has been the prediction that has been taking place among the people who are into the cryptocurrency network. As in the quote falling days will give a detailed overview about the growth that's gonna happen with bitcoin as well other cryptocurrencies. Probably crossing of $4200 is much appreciated and the same is predicted to take the price reach $6000 at the earliest.

Indeed, many options are elaborated and momentarily increased then come back down, we can only monitor every movement that occurs. Not able to make decisions and only maintain and maintain what we have. The rise and fall of bitcoin makes this trip look alive and still developing.

The rise and fall is very normal but the fall we are seeing is a healthy correction in the market.
When it falls there are people who are still buying because they know the trend will continue, some are making money for short term while
some are accumulating for long term hold.

I remain optimistic that the price of Bitcoin can return to a positive track. Indeed, what will affect the price of Bitcoin is usually the owner of the majority of Bitcoin, investors, but if we all unite to implement bitcoin in more financial transactions, it can make the movement of Bitcoin employees much more positive.

these short term drops only have one reason in my opinion and that is lack of momentum while market being dominated by short term traderd (day traders) who wanted to cash out their short term profit and repeat the same thing all over again and take the same amount of profit out.

I do agree with the article. With the big drop we had from the last 2017 I do think this drop is significant as another rush in a price rally would only disrupt the stability of prices in the future. Drops like this can be considered as a healthy pullback from the price rally we have experienced and rallying towards 4,500$ to 5,000$ without any breaks would only affect the market confidence when a correction happen towards the end. With the upcoming bull run we are preparing I can say we are in a better position now.

Bitcoin holders have the intention of money making by holding it longer so they are not going to spend it until the prices goes too high again.We made the people to invest on bitcoin so it keeps the bitcoin not usable even after having value for it.