Bitcoin Forum

Well, as the title states:

Apocalypse BTC! How low will it go?


Write out your logic on if/what/low or not you think BTC will go ..and then bounce back...or not....

take the poll

thanks

brad

Now is the time to celebrate Lunar New Year in Asia countries, so I think Bitcoin price has no strong fluctuations and it will go under $10K because Asia users sell to get cash for their event.

Well thanks...makes me feel a bit better...(not much......but maybe a little)

it is my fault by the way...karma wise ...I thought it would be a good time to retire on 1/14/2018.....and everything went to hell around that time...so I messed with karma..by

no longer working and retired..and it screwed everything up!) : (sorry about that jinx'd it)

then last week the Vikings lost.....(further proof)

now this week BTC tanks under 10k

yep broke the works I did :(

 Get to work on fixing up your house; by the time you're done the job, Bitcoin will be heading north again.

I think as long as there is an event that you need to celebrate and to spend your money,  Bitcoin price will go down because people will be needing their money for this kind of event. But I think as soon as this kind of events are over, bitcoin will soon to go up eventually.

Don't call doom for minor drops you will jinx it

Bunch of hippies who thought they could build a decentralized money network and that governments would be ok with it. NO FREAKIN' WAY that governments are going to give that kind of power away. Besides that, block chain in general has proven to be useless. It just doesn't scale. Maybe someday they'll find a solution, but I really don't think that off-chain is the solution. There are just way too many downsides there, lightning network is a complete failure by design.

Based from some TA of top crypto traders. Bitcoin's lowest drop might be $1000. And that is the worst case. If Bitcoin drops to $5k that is still normal. BTC really needs to have a huge drop to accelarate to $100k. Just trust BTC, take a look to its current volume. Crypto is already on trillion cap.

I voted for $1,000 but it all depends on your time frame. I don't think it will hit $1000 in the next month or two, but it could in a year. I would bet that it does within two years, and I would bet that within 5 it falls to a couple dollars per bitcoin or even less.

The logic is that bitcoin's scalability and transaction issues make it unusable both as a currency and a store of value. A store of value should be stable, and bitcoin is highly volatile. A store of value should also have a long history proving that it can hold value. Being backed by something physical is also a plus, and intrinsic value is a MUST. As far as its use as a currency goes, that is a problem too due to the slow transaction times and high fees. If bitcoin can't be used as a currency and can't be used as a store of value, it can't be used as anything - therefore it is not worth anything.

I am also expecting that huge drop but I think Bitcoin dropping to 1000$ is normal and is not the lowest it can revert back to. The lowest possible depending on what will happen in the next coming months IMO is sub 1000$ after all before this long bullish trend btc is less than 600$ and haven't gone back to those price ranges ever since. The only wuedtion though is if we will see history repeat itself or not? That's what we'll find out later on.

my expectation was and it still is $10k to hold strong. there has been absolutely no reason to go below it apart from manipulation. it was nearly a 50% drop from the ATH and despite all the FUD all the corrections, bubble bursts,... should have ended by then.

since market is not moving according to my expectations and i can't predict it anymore, i am out of the market and back to cold storage. i just sold bitcoin last night (~10 hours ago when the FUD began) and my last buy order was filled just now and my withdrawal to cold storage is also finished. now i will sit on the sideline watching the chaos :D

I still think that as long as this current bearish market continues, there is going to be a few days that you'll see 4 digit bitcoin prices. The lowest I can foresee happening is $8000-9000, but that has very little chance of happening next month.

Even if it does happen, it'll most likely rebound and get up to $10k again.

As pooya87 said, I too expect $10k to hold strong for now. 5 digit bitcoin is an emotional barrier for traders and a lot of people that are long with bitcoin will not allow bitcoin to crash down under that, they are just buying up all the cheap bitcoins when they are available at 4 digits.

It has been a rollercoaster ride so far, it'll be interesting to see where BTC goes next.

10k is here to stay :)

Hate Rainbows so I will go to the $8000 mark value, for me it will not end here, And dropping to the $8000 mark will be the best choice we can get I really think it is a safe to say bottom for the price of bitcoin, This poll doesn't need to put up a prize of $5000 below it will be absurd for bitcoin to go down that value.

2011: run up x 300 (from $0.1 to $30) and crash down to $3  /10

2013: run up x 400 (from $3 to $1200) and crash down to $200 /6 in 2015

2017: run up x100 (from $200 to $20 000) and crash down to ? 

/10 ?  /6 ?  /4 ? 

The run up was less violent, true.  It could go down /10 down to $2000, but I think it will end somewhat higher.

I think this is buy time for bitcoins because it is crypto world and the bear  market often repeats it's cycle with  this method. In few days after you will see all the price will be green but the price you can afford will be hell lot than your savings  ;). When you see all market indicators turned to  red you must think ' I must buy all cryptocoins ' because its time to buy not sell.

I voted $4000. Dont want it, but we need to be realistic.

Market is being manipulated. They want your coins. Who are they? It can be anything: the old whales, the funds betting on futures, the banksters. But they just want it. They dont want bitcoin to succeed as a currency, only to turn rich at the expense of others.

The good thing is that this will pass. Every january the market crashes. And the recovery is always around march and april. They will run out of coins sooner or later.

We will be back on track. If you are long-term, theres no need to panic.

Cmon it's not apocalypse, few months ago we were celebrating when BTC breached $10k, and not everyone is crying because it's $10k. When will people understand that this very well might be the 'long' correction.
When will this end? Honestly no one can predict it. It's best not predicting but rather pounce on the opportunity and buy this dip.

Far from apocalypse of BTC,it is above 10 000$ level and with only one short drop to 9000$ this month,but with quick bounce up.This price is quite normal for those who think logically,but for those who are expecting 30 000$ or more at this time the world obviously fell apart.

How low BTC price can go?I think that we have successfully tested 9000$ level,and that now we are strong at 10 000$ level.For some time price will be between 10 000$-12 000$,just because it is that time of year,many FUD is placed in the media or you can imagine any other reason.

Searing, it is not all black with this price decrease,your(and my) rate in SC is increase,for long term is it much better to get 8 then 6 per month ;)

As I speak bitcoin had drop of -5.22% and had a value of $9,982.42 right now, I really think this is as far as the dropping point for bitcoin goes and let's just say I really think the momentum is going back even though we are seeing a dip on the bitcoin value, Because my bet will be at $9000 mark value was the bitcoin bottom right now, so keep on holding and be patient.

In the past year, bitcoin has also dropped to $ 9,000 after that, the price rose to $ 20,000. Maybe the same will happen again this year? It seems to me that the real price of bitcoin 9-10K. everything else is speculative. This means that the price will not fall below this limit. We are at the bottom. Now is not the time to sell the coins because at any moment can turn on the pump.

Same presumptions about on the price where I do consider this range as a normal one since we are here on last years movement which I do see this price decrease as a major correction which I'm not really surprised on seeing these prices again. I have chosen 8k usd on possible price dip of bitcoin. We might even go more lower which we should really expect for it to happen anytime because price is being dictated on how do investors react on these price movements.

I am still in HODL mode. (stubborn skills that I seem have down, in spades).



But the last year BTC chart looks almost exactly like the doom/gloom bubble chart below we are all familiar with... (click on 1 year BTC link below and compare)


I'm
https://steveblank.files.wordpress.com/2011/06/bubble-phases.jpg




but I am struck by the 1-year chart for BTC and how it almost exactly looks like the above image of doom on this page



(sorry link only...but click on it, they almost look identical)

Looks like FULL OUT CAPITULATION FREE FALL, IMHO.



https://www.worldcoinindex.com/coin/bitcoin (https://www.worldcoinindex.com/coin/bitcoin)

(hit the 1 year button)


my only real hope on this is they say it is a 'cycle' thus it can come back and repeat if BTC and crypto revives....which is my long-term

(and likely risky) bet....otherwise I shall be known as a 'former crypto tulip farmer' :(

Capitulation free fall on the BTC 1 year chart indeed...me thinks....maybe in my 'bullish' mind...it maybe was a bubble? ya think?

Damn! I'm the OP and I want this thread to die.....jeez.....anyway here we are again, with the usual FUD below:



The FUD seems fierce today!

https://www.ccn.com/south-korean-officials-prohibited-holding-trading-cryptocurrency/ (https://www.ccn.com/south-korean-officials-prohibited-holding-trading-cryptocurrency/)

https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet (https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet)

https://www.reuters.com/article/usa-sec-crypto/u-s-regulator-urges-registration-of-cryptocurrency-exchanges-idUSL2N1QP18O (https://www.reuters.com/article/usa-sec-crypto/u-s-regulator-urges-registration-of-cryptocurrency-exchanges-idUSL2N1QP18O)


As to myself, I think I jinxed crypto....sigh.....the karma of the Universe can't let me retire..it would throw the Universe on its head on such a puzzle...


1) On the one hand, have enough $$ to live on my lovely ghetto suburban lifestyle w/o issue...with traditional stocks and no debt...did not do so...still was working...

2) Then it became evident in 2017 I have enough crypto to (if had to panic sell) and live in the lovely ghetto suburban lifestyle w/o traditional investments above...still was working

3) When BTC went above 10k with other Alts also up....cracked like a walnut and retired on 1/14/18... want to go 3 years and live off crypto till I'm 66 years
   and then touch traditional investments and social security at full benefits...mining this year.....cash out alts next 2 years....BTC hoard safe :)

Well, maybe I jinxed the works...but that is the goal..thus riding waves...it is not like under any circumstances 'likely' I will do any worse

then my current ghetto suburban lifestyle that I had working...indeed.....this price keeps me from blowing crypto on retirement.....it is a cruel fate!

So the fickle, finger of FUD repeats itself!

The take off looks like to be on 2 October. The bear trap is on 6 November. The "return to normal" is on 1 January. Now we are in the "return to mean" phase, but theres that hole in 19 February, which can be interpreted as a new bear trap.

If it would be the entire year, the price should be around $2500 now.

Two possibilities I'm seeing.

If buyers can form a local low here above the 2/25 bottom, then it's still possible we are in a bullish consolidation. There is a mode (per Tim West's TAM method) ~ $10,400. Bulls need to regain that level and defend a higher low on pullback before we can trigger a long signal. Here's a squiggle of what I mean:
https://i.imgur.com/FuYVpRQ.png

If South Korea has anything to say about it, though..... new lows are probably coming. A measured move puts us back in the $8,000 area:
https://i.imgur.com/EDE8BsJ.png

Good luck out there! I suspect most traders are getting chopped in both directions.

[/b] not much of a change from this drop ($9,982) now its trading for about ~$9,800 and to be honest this is a temporal set back that will soon end and prices will start to climb back up. Its unfortunate some negative influences all happened almost at the same time as posted by Searing. But I expect markets to rebound hard asap

Nice, bulls succeeded in forming a local bottom. So this pattern is still in play.

A strong close of today's daily candle in the $10,000s will yield a bullish hammer or dragonfly. Fingers crossed for that, the close is 16 hours away. That'll be a strong sign of a bottom, supporting the idea of bullish consolidation here in the $9,000-$12,000 range.

It can't exactly be the same as a year or a year or two ago of course. Certain happenings this year can drastically chanhe btc's course from repeating itself. What caused the movements last year aren't going to be the same as what will cause the movements now

I think bitcoin just drop down for a while not for long time, bitcoin can rise faster than last year.
If drop down the value around $3000 - $4000, in the investment I thing is a normal. Don't be panic, just wait and hold your bitcoin and you will see the profit. Good luck !

Well hopefully the next mt. gox trustee dump will not freak the market out..in that it will be a 'known' event..thus...not as much freakout..

while the BTC infrastructure digests such dumps...I doubt the mt. gox trustee is gonna stop..seems clueless or does not care about getting maximum

profits on liquidation..which would be 1) sell to exchanges that wish to buy directly in bid war...or 2) auction...

every time he dumps he just drives the price down for his clients ..again clueless...

Even if they don't freak out as much it will still has the same effect on making the prices to push down. If someone who is offloading their Bitcoins who has a considerable amount they can intentionally push the prices down as the effect of massive selling is still there, also panic sellers will still be there selling on the first price they see. The ripple effect as what I may call it in the market cannot be stop as we cannot be like other traders, they have plans of their own, and some of them including me is taking advantage of the panic.

Curious that some respondents are sure that Bitcoin price can fall up to 1000 and even lower. I do not even want to think what will happen to all BTC holders if it can come true. Suppose, the lowest possible point is 6 thousand.

There is an update that the Mt. Gox trustee can't dump any more unless their is a court order. And the next court order is in September so we might as well just stay relax for now.

However, it looks like the damage has been done because the market keeps falling and a lot has been panicking that even though there's no negative news around, a simply buy order will turn into a massive downfall.

Right now we are trading below $9K I don't know what drives or influence the market. And the only thing that we can do is to HoDL and have patience and don't be emotional.

I prefer not say cause nobody will definitely tell the right and exact details what will happen in bitcoin in the future. We are all just predicting and speculating. One thing is for sure. I don't lose bitcoin, I still win for the last time even if bitcoin will crash forever.
But hopefully bitcoin will still continue because it really helps a lot of people to earn bitcoin even inside our room. :D

I read someplace that the mt. gox trustee can still liguidate...and the meeting this fall ..will be how to distribute this....I can't find my link....still looking...can you post

a link on what you read?

so much FUD on this...

My basic take has us bouncing along a positive trendline.    Above there is a parallel upper band that is not absolute but generally Bitcoin has held this for almost a year now.      Its a fairly decent trend however  shorter term the price is still finding a more stable point and is not yet bullish

https://i.imgur.com/RDUo7te.png
https://i.imgur.com/RDUo7te.png