Bitcoin Forum

Today we are seeing huge dump in cryptocurrency that we have never seen Btc down by 27% and because of it other major crypto currency falling. This might be affected by a coronavirus and get worse in a few days. what do you think Bitcoin next stage is it below 3000$ or it will recover from today's fall?


Also, do you think the Gold price will rise significantly now?

Note " Maybe you all know that people are buying Gold and selling their assets in China so maybe others also doing the same"

I think today's sudden crash was just a knee-jerk response to COVID-19 being declared a pandemic.

There really isn't anything else that can be said about COVID-19 now that would produce an even worse response than we already saw today, so I think we have seen the worst of it, at least in terms of sudden severity.

We might still trend a bit lower from here since the virus is nowhere near finished, and people are looking to hold more liquid assets like cash during what idiots think is the end of the world.

Pretty stupid really, but it always happens. Smart investors know to short the market when a pandemic is declared, while the rich are going to have a field-day buying up the cheap shares and properties that result from the mass hysteria.

At the end of it, the idiots will be left poorer and the rich will be richer, as things always were.

Yes sudden crash made me worry and since there hasn't been fund any antibiotics for coronavirus it's hard to say what will happen and people are terrified about it so  there selling there asset and crypto I hope this problem resolved soon

What DarkDays said. The dump is hugely hugely blown out of proportion in my opinion. It crashed as if you could actually get infected with COVID-19 if you did a bitcoin transaction lmao. But yea, not that much of a surprise if we remind ourselves that a good percentage of bitcoin holders are just retail investors who really don't know what they're doing in the first place, hence easily swayed by emotions.

Nah, I think metals will continue to get hit hard.  I hadn't checked the price of gold or silver for weeks and just did, and they're both down quite a bit.  I don't think people want their money locked up in anything other than cash right now--and nobody is spending gold or silver, right?  I'm sure the permabulls will continue to hype the benefits of owning metals during times of crisis, but the market is obviously saying otherwise.

I agree.  I'm tired of knee-jerking and irrational fear personally, but there's nothing any of us can do about it except to remain rational.

I'm not sure bitcoin will fall as low as $3k (though it certainly could), but hey....I see this as a tremendous buying opportunity.  The old maxim "buy when others are fearful and be fearful when others are buying" is perfect for times like this.  But wouldn't you know, I don't have enough money to spend on bitcoin, stocks, metals, or anything else right now.  The same damn personal situation happened in 2009 when the stock market crashed and I wanted to buy all the stocks I could get my hands on.  Oh well.

Yes completely agree with you and hoping bitcoin will stabilize soon

Actually I heard rumor that in China people are buying gold that's why thank you anyway

People sold in panic, believers are holding, nothing unusual here

We are dealing with a global crisis right now, there's no sense to think that BTC will rise, even if people consider BTC a safe store of value, EVERYONE is worried with the effects of Coronavirus in the world, such as lack of supllies, health system, financial crisis etc

But less than 3k USD, I don't believe, because if you see on another threads, that are lot of people buying

I don't believe and I don't want to believe that Bitcoin's price may fall even lower. Gold is recovering now, but I have no idea about its future fluctuations. However, most people consider it as the most reliable asset now.

I don't think anybody can say for sure but i doubt it will sink that low. I read from some premium trading groups that we are likely going to see a dump in bitcoin if we are not able to cross the $10K mark and I think this is exactly what is happening. I would not relate this dump with the spread of corona virus alone but the fact that market is in a bit of fear at the moment.

However, I am not ready to sell but actually thinking of purchasing some more in addition lol, who knows where the next rise would take us to.

Gold is also crashing hard. It is so amazing that when the crisis comes, almost everything is sold in exchange for fiat money (which we constantly describe as a scam) or government bond. The trust that rich people place on government debts are enormous

This crisis showed what the majority's mental status are, and I just don't see how cryptocurrency will change this mental status in decades to come. Currently cryptocurrency is just another speculative asset that is played by IT nerds

FYI, antibiotics kill infections of bacterial nature, and since COVID-19 is a virus, there won't ever be antibiotics against it. Scientists are working on a vaccine, but it seems difficult to predict how much time is required for that (from months to more than a year). In any case, I don't think that Bitcoin will be suffering all this time and will then magically recover when the pandemic is over. People just need to calm down and realize that Bitcoin has no reason to go down, unlike many other businesses, and it'll be fine. How much time it takes for people to calm down - now, that's a question. I hope it's a matter of weeks.

Unfortunately for you, it really won't stabilize any time soon. It's going to be hugely volatile for a good amount of time. Heck, I wouldn't be surprised if it was still hugely volatile after another decade.

I have the same view. I try to look at the industries that are least dependant on travel or movement, they are software, gaming and cryptocurrency. All those do not need any physical contact with person. On the other hand, any industry that require physical movement of personel will be limited in a pandemic

When everybody is locked at home, what they can do? Order food home delivered, watch TV, browse internet, run software, play games and buy cryptocurrency

Unfortunately for you, it really won't stabilize any time soon. It's going to be hugely volatile for a good amount of time. Heck, I wouldn't be surprised if it was still hugely volatile after another decade.
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Bitcoin is right now supper violated it hit 3800$ and rise 5800$ now again 5500$ right now you can make huge profit or loss if you trade but i think bitcoin for sure will go below 3k this time

well I hope everyone thinks like you

49% of people in the world are living from paycheck to paycheck so even a single month from not getting salary can ruin their life. But as he said one who holds cryptocurrencies no need to panic, just cash our little for emergency need and hold the everything you have got we are going bullish real soon. :)

well said but all depends on people who are holding huge amount btc if they dump price will fall.

One who is holding large amount of btc can use this to manipulate the market condition more and get benefits out of it so they are not going to be in any losses on who bought them at high price and tempted to sell when they see prices getting lower and lower will never get any more opportunity to buy again at this price.

Below $3k is as hard to manipulate as above $12k. The $3k mark is the price from 1st August 2017, a historic date for bitcoin, which was when BCH had forked from it. Below $3k is the area from the other bear market, the one from 2013, and the consequent recovery and bull-run.

Those who bought above $3k will likely not sell below it, as it is too cheap.
Those who bought below $3k but didnt suffer the 2013 bear market will also not sell it, as they probably experimented the 2017 bubble and consequent crash.
Those who bought below $3k and did suffer the 2013 bear market have already sold if they wanted to. They are early adopters and if they weren't in DCA the prices from 2018 and 2019 would look high to them.

So its hard to bring the price below $3k. I read that 60 billion dollars were withdrawn from the bitcoin markets in the recent manipulation. The bearwhales will make much less if they dump it to three digits, and might not work after all.

I saw the price touching the $3000s last night, and only lasted a few minutes. People will flock to buy in.

gold is only down 10% from its recent highs. BTC dropped more than 60%! brutal.

but yes, it just goes to show you how investors operate during financial crises. for as long as i can remember, gold bugs and bitcoiners alike have been predicting the next economic collapse would be followed by a rush into (respectively) gold and BTC. all those people have been proven completely wrong yet again.

in times of crisis, investors want cash and bonds. they may be a "scam" over the very long term or in the rare case of currency collapse, but investors are measuring those small risks against the risk of massive paper losses from holding risky assets. it makes perfect sense.

Price of Bitcoin can go under $3000 this year and price of Gold should not raise significantly just now. It probably will next year.

Gold increased a lot in late 2019 and early 2020 so I doubt that would be one of the first ones to get back to what it was, it would probably be the last one that would go up, I see years before it can recover and have a decent profit. However, the first one to recover will always be stock market, there is trillions of dollars involved with stock market that moves every single day like crazy, when it drops so much that means a lot of people lose money but also a lot of big companies who bribe the right people also lost money so they will be saved first.

I really hope one day we can figure out how governments could help everyone like they help banks but until that moment I think stock market will recover faster than everything else, followed by crypto currencies.

all of your point are true but if economy get worse there's no garrenty price won't fall below 3k. let's all hope btc won't fall anymore since huge amount cash already withdrawn.

I thought that people will invest in crypto currencies when there is a financial crisis but opposite of this happened. As soon as stocks and markets fell, bitcoin dropped even more than that. This shows that people still have not full trust in crypto or it can be the whales doing the manipulation as always and rest damage is done by the panic sellers.

The first clinical trial of vaccine should be next months or two, to ascertain a reliable vaccines will take several month but not beyond this year. Basic information about the virus is known especially the mode of infection and damage of the body system. The are no stigma to this disease, not out of sexual carelessness or infidelity. The basic challenge is way it is hidden in the body with no obvious symptoms in several months. It is more difficult to speculate and predict the price of bitcoin even after halving with the crisis.

I think so far the chinese way is the best, they have been isolating EVERY CITY since February and now after more than a month, viruses are all dead, either by themselves or by killing the human they infected, and contained in hospital. If western countries take this approach, it would also stop the virus in one month

So indirectly you are saying that we should lock down all the cities (as virus has been spread world wide) and kill all those who are infected. You should know that the percentage of people who can die because of this virus is only 2% and the rest can be recovered. Why not take precautionary measures and heal the persons rather then killing them. Europe will never take this approach of killing the mankind.

This not true i don't know where you hear that they killed but i have talked to friend who are from China and confirmed me that no one where killed. Yes they have locked city and treat all who are infected and it's true that they're not telling how many people actually died. my friend told me in Wohan daily 100 people died so huge number of people died because of coronavirus even in news it's only 4000+

This is really the story. A time to buy for the rich is the time the poor sell. If the poor don't sell, the rich won't see what to buy. This is a situation that keeps coming in our faces. Apart from panic, the other thing that makes the poor to always look at selling as a means to survive is lack of liquidity for investment.

There is a strong possibility that the price of bitcoin could fall to $ 3000 if this case continues for a long time because with many crises everywhere the market will not be strong enough to deal with this as most stock, mining and crypto markets have declined.
But when bitcoin goes down then I'm not sure gold will increase I think both will have the same thing in this situation gold will remain stable but the increase will not be significant.

Scrap it. When I wrote it I still was using some reasoning.
But there is no reasoning when there is a derivatives casino operating against bitcoin.
Now that the source has been identified, its much more easy to do a prediction.

We are going to zero in less than a month.
Right now its pointing to sub-$1000.

But there is no buy liquidity in that area, people who buy will have difficulty to sell.
So it will take two or three weeks to reach the two-digit area, and then its zero.

FEAR!!!

That means it's time to BUY  ;) 8)

Ok, do you really trust in what you're saying?
Because you can bet all your money against BTC and probably became millionaire

This is really a disappointing moment for the … we did not ready for that. If this situation only for the corona virus. Then we mind it that this starts only. There are more things left to happen. We can see more and more dumps in the future.
Before dumping to 3000$ BTC needs to cross 4200$ and 3800$ support level. And BTC is holding now 4800$ support level. So if BTC can hold this support level and can cross the 5200$ Resistance then we can see 6000$. But in this situation, it is very hard.

There is a lot of technical analysis regarding Bitcoin price predictions but as we can see there is no given accurate result on it. As we can see, not only Bitcoin here was affected by the economic crisis due to the pandemic. Also, those other stock in the market was affected by this moment and most of them had a downtrend. Yet, Bitcoin is unpredictable, probably it will go under $3k but as I can see, it will stop on $4k(I hope so) and it will resist again after this economic crisis happen.

Dont be dumb if you sell your Bitcoin at this very cheap price. Investors need to hold further if they dont want to lose their profit from investing in Bitcoin. From the start, you should know that Bitcoin is not for short term investment and also this is very volatile every now and then it will pump fast of even down.

It's really hard to hold on during these situations especially for low and mid level users, I don't usually panic sell but when the value has dropped by almost half of what it was before few weeks then it's a sign to worry and it does concern me as well. But looking at current trend I am sure we might see further dumps and looking at global economical slowdown due to corona it might go either way. We need to convert our assests into stable coins for time being until we see some momentum in the market.

Has anyone ever thought if the price of Bitcoin falls below $3000 then bitcoin will be stuck because there are no more people mining because mining tools are no longer profitable?

That is a bit of my view, even though some say that people who do mining will not stop.  Then I will ask whether the person who is mining will continue to run his mining tools at a loss?  Certainly not.

IMO, this is only part of the momentary panic, where market participants make it in such a way as to collect Bitcoin.  remember halving also had a few more weeks left.  I am still confident that the price of bitcoin will soon recover, seeing TF 1D, the RSI indicator is at its lowest.

Other threads saying that it drops into $3,880 and you will say for $3k. This all been in market speculation and I understand that we've been doing this for a long time but ain't say that this all be done. Yes, we can't escape from any possibility but we shouldn't have also to think negatively about this. Though it looks like not a normal scenario and a little bit worrying but not could stop crypto at all. Definitely, it recovers sooner.


Sorry, but I was not thinking that people are now buying Gold because of China's demand. Maybe people are buying gold for their own but not to sell this time.

We are still in unstable market, anything can still happen but I'm glad with all that's happening in the market Bitcoin is still at $5000 mark, it's still we are better than when we are in the bear market, so far the Crypto market is very resilience, it's going to recover very fast once we see that the the world is improving in battling this epidemic.

yes usa testing now if it's work thinks will get better for everyone

My personal opinion is that we will see a market drain next week. I think that the price will drop below $ 3000. Against the backdrop of world news, all markets are collapsing, as well as the unstable situation with oil, a pandemic and other factors can drop the price at extremely low rates.
Many people expect growth before halving ... It even sounds ridiculous in today's realities.
Before halving, growth does not always occur, but after halving, a fall always occurs.
I think we will spend this year in + - bearish conditions.

People basically how long this will last and when we will get over this which is why we are such a volatile thing right now. We have no idea if we will find a cure this month or not, we don't know if this isolation thing will work and we basically assume everything will go bad for now because that is how it is looking.

Maybe tomorrow morning some scientists will say they found the cure and they will rapidly inject everyone the vaccine and we will have no more corona, that may literally start right now or may take a month, we don't know how long it will take, that is why nobody goes back into the market right now. But be sure, if we find a cure, the markets will suddenly go back up, that is how this will end, we will just find a cure and everything will go back to normal, both financially and in real life.

That huge crash was for the Covid19, but have you noticed that Bitcoin recovered within a very short time? Though price already started falling again and it's not just Bitcoin rather gold too! It's not about crypto and gold only, rather all the stocks market was falling down! Coronavirus is not going to end very soon, only China got relief, others 180 countries are being affected gradually and thousands of people dying every day! So, yes, we can see another dump, it has possibility but no one can ensure you! So, it's better to research hard and pick the best moment to in and out!

yes research help  . when you research you will know if what is the status of the covid now  .

 for example china have said to recovered lately which means we can expect for a price hike just like that but when you see something negative then that could be a sign for an incoming dip   . i dont think btc will fall and gold will increase but i think gold will drop and btc will increase because people are going for digital currencies because people are now avoiding offline transaction as much as possible   .

Bitcoin can go down below $3k, but I am not sure if the gold price will increase. People cannot use gold to buy something, but people need money to buy something, so if they cannot use fiat, they will search for the other way so they can buy as usual. But people who have gold can sell their gold to get money to buy something, and if that happens, I think that is not related to bitcoin price, but we don't know that. But yes, bitcoin can not be predicted, and it will be up and down every day.

With these conditions, of course there will be many who panic, especially corona virus will continue to grow every day so with the economic collapse and other stocks will make an impact on us, including one of its bitcoin.
Yeah bitcoin is now an idea as a digital transaction that is safe to use at this time because if it comes in direct contact then it will cause coronavirus to happen, but everyone is still wavering at a time like this so it's true your word is to do research first.

It is generally accepted that when the economic crisis occurs and the prices of classic currencies fall, there is an increase in the price of gold - in other words, because of the decline in currency value, people get rid of money and buy gold, which is why its price increases. At the moment, the situation is more complicated.
I think the price of gold will start rising, but only when the further spread of the virus is stopped.
When it comes to cryptocurrencies, I think their price will fall until the situation is under control and the situation in the markets calms down.

Neither bitcoin nor gold will increase during this global epidemic because people are panic to sell off and choose cash in order to buy daily necessities and groceries.
If this pandemic getting worse, we might have to face this condition for several months, hence cash is the best option for now.

Looks like bitcoin is solid, it is trying to beyond 7k and stay there, sure it had some drops again but it is at least on bull stage. Do not forget that whenever bitcoin tries to go up it will eventually achieve it unless something major happens, there is already something major going on right now and I doubt anything could be worse than corona right now, what will happen a huge asteroid hitting the world and destroying all life?

Because, that is literally the only thing left right now that could be shocking. Gold on the other hand will recover a little bit better, it is a lot more known by many people and it is even used for stuff, like gold rings for example, bitcoin is not a physical thing that you can use like that. It already started to recover a bit but not quite there yet, just like bitcoin, so I assume both will go up together.

Bitcoin is recovering well after a sudden dump. Which no other market can do. But I'm still not sure how much Bitcoin can go upwards. Where the global economy is in a bad state it is hard to predict anything. But Bitcoin and Gold both are gaining momentum.

at a time like this gold is very profitable because all stock prices are down, and only gold can survive, and Bitcoin should also put the same footprint, but this condition says different for bitcoin, which people say that bitcoin is digital gold now only becomes just a word, why? because the price of bitcoin is affected and a DUMP occurs, if indeed Bitcoin is digital gold or future gold Bitcoin shouldn't experience the Bearish market

The market agrees with you, at least in the short term. Virtually everything is falling against the USD, including other fiat currencies.

At the same time, the market recoveries in BTC and gold have been much stronger than stocks. Bitcoiners and goldbugs have begun theorizing about a "decoupling" from equities and other tumultuous global markets.

Novogratz is bullish on both: (https://twitter.com/novogratz/status/1242399063049408512)


What a time to be alive. :-X

The sudden eye to Gold?
No.
I would rather stay with bitcoin.
Do you have the statistics that Gold is going to a bull market?
The whole world is affected by the virus and they are now staying at home.
I don't think they will be trying to buy Gold instead. You are using the internet during quarantine. What could be the possible thing that you will mostly see in it? Is it gold?

There are definitely signs that precious metals are seeing increased demand during these times of uncertainty. When the Royal Canadian Mint shut down a couple days ago, they said demand for silver coins jumped 300% month over month. https://www.kitco.com/news/2020-03-20/Physical-gold-squeezed-further-Royal-Canadian-Mint-shuts-down-production-for-two-weeks.html

There is a big shortage of physical gold on the market due to producers shutting down: https://www.reuters.com/article/precious-refining-argor/update-1-three-swiss-gold-refineries-suspend-production-due-to-virus-threat-idUSL8N2BG3ZJ

COMEX can't fulfill immediate delivery requirements. With spot supply dried up, there is a premium developing over futures. I have a strong suspicion this is a temporary condition caused mainly by production shutdowns, but Zero Hedge and gold bugs think this is the straw that breaks the camel's back. They think paper gold markets could collapse: https://www.zerohedge.com/commodities/gold-market-breaking-down-gold-spreads-explode-lbma-warns-liquidity-problems

Gold, guns, and bullets.......the original insurance policy in times of uncertainty!

It's not surprising to see gun stores selling out of stock either: https://fox17.com/news/local/sold-out-surge-demand-for-firearms-and-ammunition-creates-national-shortage

At the current moment I don't think this is very likely.
On the contrary Bitcoin price is in upward trend, although that doesn't have to be permanent.
However, if Bitcoins price starts to fall again this will not reflect on gold price because there is no direct connection between Bitcoin and gold.
Besides investors in gold and Bitcoin are totaly different types.

To date, the situation is stalemate, I think that we can go to a local resistance level of ~ 7200, but there are no forces to overcome this level.
After that, I expect a decline and a hike to 5600, and possibly even to 4400.
Level 3000 can only be achieved with a regular stream of bad news and panic from sellers.

Stalemate is a sign of a bear market. The price go to "hibernation", hence the term "cryptowinter". If the price keeps going sideways, its just a matter of time before it plunges again.

Next stop is around $4k, and it will go down suddenly, since the market is manipulated. The whales only need some news about another virus coming. China is also on the brink of a civil war. If the conflict escalates, this might affect bitcoin in a unpredictable way. If it goes down, expect $2k, and if up, then the price will shot to $14k due to new demand. This will depend on how much compromised the chinese mining companies could be.

Gold price increased, that was one part of the question that nobody really considered to be important. Sure, bitcoin didn't go under 3k, it never really had a chance to go under 3k, look at even the lowest point of this year, we had 3.6k and that was probably just a couple hours long thing and not a long time thing, when looking back in the future we will say that 2020 lowest point was 3.6k for technical reasons but honestly 5k was the real lowest, because we dropped under 5k for couple hours but never really stayed under 5k for 24 hours straight so we can't really say that was a thing of importance.

Regardless of that we can say that gold was very important and still is important to people who want store of value so it dropped a bit first but now recovering.

i dont think people are looking for investments especially when on diffcult times like this because can they carry thier investments with them when die ? sorry to use the word die but this is the reality that is happening right now  .

 also its hard to find a market that will accept these kind of investments since most markets are still close or will be closing  but btc is still easier to market but then again only few people right now are investing  althought the value of btc already recovered a little and i think it will now be stable at this point   .

Well gold is a good store of value but not everyone would invest with gold, so its likely that they will also consider bitcoin or crypto as a good investment.
I'm predicting that both will increase in value due to this crisis, with the number of days we are quarantine, there's already a big effect on the business world and no way the stocks would rise at this time, so people will be looking for a stronger investment, and that's both gold and crypto IMO.

the current price of gold has gone up, everything has turned to gold, and stocks have been affected by the most declines in history, and not just stocks, crypto currencies are also experiencing the same thing as the stock market, whereas crypto currencies should be a valuable asset in in the middle of a corona virus pandemic, but what we're seeing is not what we imagined

how can you say Bitcoin is the most profitable investment? are you not aware that out there are still many who suffer losses. Bitcoin trading has a high risk, not everyone can profit from it.

if you provide education about Bitcoin, don't give bullshit news like you say.

The population of the earth will increase this year, I wont call this virus in any way minor but its not going to change the course of history in a gigantic way.   Gold will eventually rise but it takes decades in its strides and many people speculate on it short term but price varying but its true trend is set beyond the influence of our markets and small observations day to day.

BTC also inverse to the dollar and subject to no stimulus printing is on a similar course to which it was set a decade ago, its cutting edge and alot wider in variation but its likely to rise also as dollar becomes worth less.

Can't say about Gold as it's completely getting out of my mind how the hell is this asset growing in price amidst global market falldown. But I believe that BTC may surely fall below $3k to make a new low and will start showing big green candles immediately afterwards. I'm not sure about the time because the candles are still showing some positive signs but this is looking like a trap to get shorters out, and when they become longs, the exchanges will short and liquidate almost all their positions till they give us a fresh new low. I'd warn you to wait and watch till it gets even lower if you're planning on getting a leveraged position.

If only I have a lot of cash in my bunker right now ...

I'll just exchange every single penny into bitcoin with the current $6k rates!
That's rare and I could say people would realize soon that the real valuable asset isn't gold anymore once they figured out it's a bubble over there and moving into crypto as a safe haven.
Believe it or not.
Well, I'm believer you can't really blame me for saying that aren't you?

the price of gold really goes up, it's just that the increase isn't so high. however, I feel that the decline in the price of bitcoin has nothing to do with gold. other than that, the decline in the price of bitcoin from $ 9k to $ 5k doesn't really affect gold I think.
so far, I don't feel that the price of bitcoin will reach $ 3k. besides, if people exchange bitcoin, they could also exchange gold, and the price could fall.

Gold is spiking like a rocket, and crypto is not so good as expected because the two asset are scarce... Currently most of the Investors are moving their capitals only in these two assets BTC and gold.

Also I am sure BTC will not go down across to the recent market situation, it looks like from now it will slowly go up as halving is about to happen in a month. But all this will depend on the overall health of the global economy..

I saw in the news when china was in isolation people were selling other asset and buying gold and I think people believe gold will stay stable more than BTC and even now I can't really tell if BTC stable and maybe it didn't go 3k that time but no one know it won't go chance is really high that BTC will go below 3k.

people who have enough money they will invest because they need to earn or they don't want to loss money so they might choose gold or BTC since they give them hope that their money value will stay the same.

As for cryptocurrency, it is fear and panic that is making people to stay mute from investing or they don't have money for investment. When there is no investment, then price don't appreciate. That is the situation with cryptocurrency especially because it is not regulated.

Bitcoin did not fall to 3000$ so it means maybe in future it will but of course market will tell us soon.

Gold seems not doing better either because of the market situation now so nothing happening in both questions.

He addresses those willing to HOLD and not traders mate ,because this is the best way to invest to Hold for long term until the Virus ends.

To that sell their cryptocurrencies last month when the covid19 hit hard on the market soldout of fear and panic. It is going to be hard seeing bitcoin below 3000 dollars. The way things are now bitcoin might not get below $5000 again this year as people have started understanding that bitcoin is the only assets that you have 100% control on.

Bitcoin dropped to $ 3000? impossible...
TA from senior members here is very good, like this account https://bitcointalk.org/index.php?action=profile;u=154539 can you make as a reference. regarding gold, I don't really know for sure because I didn't follow the development of the price of gold.

The reason for the price of gold is moving higher is because people view it as a store of value and so is the reason the price always move higher during a war situation or during economic crisis, the stock markets will fall when there is a economic slowdown and the big time financial investors will start investing in the golden metal during that period and hence the rally.
when it comes to bitcoin we might see a drop in price once again before the big rally but the timing of the rally depends upon the global economic condition.

You can also view it the other way round, the gold is inert and not changing.   When they expand the monetary base by 2 trillion or however much recently then the price of gold adjusts to the greater supply vs its own regular supply and demand.