Bitcoin Forum

For now , that can be specified from the bitcoin price chart on Bitfinex available on Bitcoinwisdom. Bitcoin prices have fallen between $ 5,800 and $ 6,500 several times in 2018 but has never lower than 5800$ before it reachs 5800$ last year.
Source: https://blogtienao.com/5-800-usd-la-nguong-ho-tro-quan-trong-nhat-cho-bitcoin-trong-nam-2018/

saying this now means nothing because now it is 100% clear that this price you mentioned was the bottom of the price.

it would have been worth saying and worth reading about if it was being said back when the price was falling and only a handful of people were saying $6k is the bottom and price will stay above it even if it temporarily drops below.

There are many analysts or at least some that still maintain a lower bottom is possible. Tone Vays has been a bear for months and always says we are on death cat bounces whenever we start going up again.

But often times it is forgotten how he called $7500 as the best possible scenario for 2018, so he got it really wrong. This could be the same situation again but at the opposite, analysts like him are being too pessimistic and we may have already bottomed, so anyone following instructions to wait for lower prices will miss the boat.

that is how it has always been. and it is why they still make random guesses on the internet. simply because when you make a prediction according to what people are looking for not according to reality and speculation, you can easily get some moment of fame. if it is wrong then you will be forgotten among millions of others who throw some guess out and if it is not then you get another shot at moment of fame :D

Feels like the time bitcoin was hovering around 200-230 USD. A small drop to 160 marked the end of the bear market that time.

Was the latest drop to sub 5000 similar to the drop to 160 a few years ago?

As of the moment, I should say yes, its the last bottomed we seen. However, we still have the September news coming from SEC, so it might have a bad effect on the market if the news suddenly went on a disapproval.

So we can't really tell unless we see a dramatic rise in the next coming months and we can totally say that we are out of the woods for another bottom this year.

Nope because we might have reached to the lowest price point of this year and this might be one of our strongest known support since it went around that area a lot of times, this drop was absolutely more worse compared to before as we came from a 19,000$ ATH and even before it went below 10,000$ we know that this will be a bear market for us all. A 40% drop to 160$ is really incomparable to the 80 or more percent we experience now, it just shows how worst is the price volatility we are having compared to before.

Market issues are also partly due to new investors. At 5k it is probably the last of this year. However, it will stabilize by the end of 2018, which will recover in early 2019.

This is definitely the bottom of the market for now with some serious support and buyers waiting at that level to swoop up cheap coins, and many people believe that it's going to be the lowest trough that we'll see within this bear market.

I personally feel like that we'll probably see lower levels in the next few months, perhaps even into the next year, before the bear market finally ceases and the bull market finally comes.

Just based on historical data alone, prices usually fall around 80-85% before bottoming in a bear market. We're close to that figure, but not there yet. For that reason, I do think that we won't see much lower prices than $5.8k, but we may see further dips in the near future.

Yes,  it might not break below that level this year.  It is not going to make any significant bearish movements again no matter what happened in September.  Since two days back we have started to see bullish momentum and most of the technical indicators are showing bullish trend.

I hope this year 2018 5800 dollars for the bitcoin will not happen again because it will not help to those people who have invested to bitcoin. I hope that is the last we see that price for this year 2018 and I hope will see more than 10k dollars next month and more than 20k dollars before end of this year 2018 upto 50k dollars.  Lets's support bitcoin so we cannot see again that price. Buy more bitcoin instead of selling bitcoin.  I think this is the right time to pump bitcoin again because we can earn more profit on that.

But if 5800 happen I will buy more bitcoin and better if we do that also.

Yep, I would agree that TA indicators as of late is showing the bear market cooling off and bullish trend started to form. So I believed that this is the last bottom we are going so see this year. Although technically, the price could go down and touch another bottom, I'm looking at it on the bright side, will be another perfect time for everyone to go on another purchasing spree and load our wallets enough BTC and we will just sit and relax and see it grows come 2019.

The time when Bitcoin hit $5800 it didn't even last for more than a day and it's only a short term loss there's always time for recovery even if it's going to hit a new low. No need to remind people to buy Bitcoin when the price hits below $6k surely there will be a lot of traders that are willing to throw their money on Bitcoin to maximize their profit since it's the lowest(?) price this year.

In the last couple of years Bitcoin always tend to go up during December then after that it'll go back down. I think the same scenario would happen again but it won't be as big as last year.

Well, I hope that price is the lowest price for this year. well, it can be said that it's really a very bad condition, but it's nice to see the price of bitcoin start rising again. Well, I really hope that the price will rise higher at the end of the year.

So many people had being recommending during 6k price range to start accumulating as it is near bottom out and it has happened couple of time form 6 to 8k it has reached this year. Had people being following it they could have made easily 2k on per btc multiple times in the year and got their profits booked in the short term investment.
 

For now, yes, that seems to be the stronghold for Bitcoin. At 7k now, even if it were to shed 15%, it would still be above 5,800, although I still harbour some suspicions that we're set to test the yearly low in June one more time at least - you just can't tell actually what's in store and it's a long four months to the end of 2018. Still have the kind reward from micgoosen in this "real bottomcaller (https://bitcointalk.org/index.php?topic=4530624.msg40798908#msg40798908)" thread waiting to be claimed by someone else if that happens.

If we never go back to below 6k, we'll all be looking back to this year with mild regret!

Well, the OP speculaton does mean something buddy because we are still in last of Q3 of the year 2018 and anythng are possible. However, I don't see $5800 as the bottom price of bitcoin this year because there's going to be another huge dump in price when it December till early January of next year.

At least for now, that is the lowest recorded price for 2018, with a lot of ETFs rejected and a lot of negatives happening, I'm still amazed on how stubborn the price is. Many times have the bears tried to break $5700-$5800 but to no avail, ultimately resulting in a slight turnaround in price and posing some gains before going back to the $6k levels again. I'm not bothered that we are staying at the same price levels for long, as long as it proves that the levels we are standing at right now has a solid foundation.

Smart traders did so, but silently. Average joes as always only buy when the price has been going up for a while, because an increasing price boosts their confidence. In no shape or form will these people buy on the way down, especially if you take into consideration that most of them even believe that Bitcoin might become worthless at some point.

In other words, every significant decrease might give them the impression that it's done and over for Bitcoin, which explains why the mainstream media is adding fuel to the fire by triggering that weak spot. It's a disgusting practice, but for media outlets it's pure business. The only thing we can do is help newbies here understand the very basics of Bitcoin and this market, and hopefully they will turn into the next generation hodlers and users.

One of the most important aspects is that we should pop people's bubble that makes them think Bitcoin is a get rich quick tool.

This is what people are forgetting about bitcoin. They keep talking about how in 2017 bitcoin was $20k and all that and in 2018 we never reached those $20k levels but people are forgetting that bitcoin was $750 back in 2017 at one point (guess February or so?) and than it reached to $20k, in 2018 it never went below $5.8k levels and maybe it didn't reached $20k but the average is still in our favor because we also never went down to $750 dollar levels of 2017 neither.

Only the reason of we didn't hit the ATH doesn't mean that we are in a good price range, look at the price right now, its $7k, that is more than what it was on 2017 for a big margin, the only time it was more than that on 2017 was late November.

Yes, tether and Bitmain never let bitcoin drop under 5000$. When Bitcoin approaching 5500$ tether immediately print 100kk-300kk$....

So what of the price falls when Tether was issued too? It's not a one way street by any means. A lot of the time nothing happens at all.

I don't really buy the absolute bottom has been reached. There's still a vast amount of joke shit that's insanely overvalued. Either that means we're taking a breather before a bigger bubble kicks off or we're still treading water before further falls begin.

I ain't popping any champagne corks yet.

Definitely the lowest point all year, right now. And it's still holding up strong.

Every time bitcoin hangs around $6k or even goes under thus far, there seems to be a huge surge in buying activity which eventually drives prices up, and breaks the market into a price hike. And even though these rallies have been relatively short, prices have never really gone past the aforementioned $5.8k floor when they do correct after the short pump.

I think that at some point in this or next year, this support will be broken as we're still not seeing signs of a bullish reversal any time in the near future. After that occurs, I think we're certainly very close to the actual recovery of prices that will happen afterwards.

Market issues are also partly due to new investors. At 5800$ it is probably the current.
But I think it will up to 8000$ at the last of this year

when has bitcoin ever dropped to the price of $ 5800? As far as I know, the lowest price of bitcoin is $ 5900, after that the price of bitcoin rises again above $ 6000.

The bitcoin fell to the lowest price on June 29 at around $5833. That is probably the lowest price this year as bitcoin is entering the last months of the year.

I like the idea that all the noobs must hate bitcoin before we can call a proper bottom. Right now the price may still be too high for noobs to hate bitcoin. Perhaps we really need to go sub-3000 for this to happen. Once noobs are flushed the market will bottom for good.

But who is to say really, maybe the miner theory is legit and that $5k range is the true bottom, also would align within less pessimistic TA lines. I can't count both scenarios out of the picture.

Pick your favorite. I would personally save 50% of cash in case we dip further, and if I didn't had BTC I would be buying right now without gambling any further in hopes of a perfect price entry point which could never arrive.

I agree that Bitcoins won't descend down to any less price that 5000 because the lowest threshold it can go is the 5800 USD. Bitcoins is going to end the year with a bull run and a price of not less than 10,000 USD.

We can't say it early but we have reasons to assumed on that. There are lots of attempts, negative speculations, FUD that passes by but we all see how bitcoin withstand the established price-low this year.

Should we called this as a bottom? Maybe yes Maybe no. Who knows in the first place.

What matters here is, we now sees even a bit on what price level should we consider the bitcoin's new bottom. That is a good reference for those who want to make an entry.

If people want bitcoin to be adopted massively,then expect the price to go much lower.

Stop calling idiots "analysts". He's a stock market player, someone who doesn't know a lot if not anything about bitcoin.

OP, 5800$ is the lowest we have seen yet, you never know how the year will end.

Well its not even certain now.  Bitcoin can easily move large amounts and surprise us all.   I'm getting slightly apprehensive if people think a bottom price is easily gained, one strategy to judge a bottom is when people are stupidly negative and refusing to believe the price can ever rise again.

People have got seriously gloomy at points this year but buying when everyone hates an asset is often considered the smartest play (presuming its still a good unique innovation, applies to any asset), because its left very few sellers are within the price.     Worst case is when everyone is optimistic and tries to shout down the idea it could all reverse.

This little gain now can reverse, it takes time to heal a large amount of selling.    I dont want this especially but we could be here for a year just wandering about, in the background might be positives being developed like protocol improvements or business accumulation in crypto use but within the price I could believe we go nowhere for most of 2018 and maybe spike down; before those last few weak hands drop their bundle then it rises

In some exchanges it does experience price differences but not too large, the point is that prices will not reach that price again.
it's the lowest price this year. prove in a bull trend price just turning around $6k and then back up. be prepared with price increases mate!

it is impossible to say for sure at the time it is happening, we can only know it after a while has passed but i have been saying the same thing for a while now. this is starting to feel very similar to that $160 drop of 2015. we may end up seeing the same scenario when ETF is finally rejected next month and then the rise can begin for real but so far we have been at the bottom and $6000 has been the same as $220

I believe that the value of Bitcoin 10000 level will increase later this year if it is not to be dropped down below the price of 5800 support like the article stated

Once we start seeing some little correction upward, people always tend to raise their hopes too high when in fact, the market could be greening up in the short time frames, but in the longer time frame, it can hit back to continue the downtrend as the case may be. The $5800 could have held now, but that does not mean it would hold again if retested. Like you said, we may already have bottomed, but that would make more sense if we are able to continue an uptrend from here and at least break above $8k.

To decide about this year's threshold value, we must wait 4 more months as 2018 has not ended and we still have about 4 months left to wrap it up, so anything can still happen.

Yeah, due to this support holding pretty well for a while now, we might see some pretty good movement upward, but at the same time, that does not mean the bears are still not somewhere around the corner, trying to look out for the best time to hit on their prey. We cannot say the bottom price yet, until we finally are able to print out a higher low. Time will tell how things would suffice anyway, so, no rush!

Yes you are right, everyone should prepare for the price increase and maybe it will happen again before the year ends just like last year so you should take advantage of investing a huge amount right now.

Most of the crypto analyst are saying that $5.8k is the floor and they are expecting for the price today to become bullish and start pumping again just like what happened last year so keep on holding your coins.

it does not really fall far below this level. if it does not save mining costs. the market goes into serious collapse. I want to pass the $ 9,000 level right now. because if it goes over $ 9,000, $ 15,000 - $ 17,000 will give us money. This is necessary for the bull season.

Yes it is not certain, but I think that bitcoin price has got a very strong support below 6000$ and therefore we are not expecting that the price is doing to dump below that level. I hope that now bitcoin price will continue to increase for a long long time.

Yes i agree on that as well, bitcoins price will grow even more in the future due to the demand of people in the market coming from different countries.

Though it really hit down that price, we never know what really ia the most bottom price this year. Some speculations predicted $5.3k is coming. If that so, we can really be ready in times like this.

I hope the bitcoin price doesn't drop again, and the price of $ 5800 becomes the cheapest price this year, it's time for the market to recover so that all users get profits like last year.

I won't expect as much as last year and if this should end up becoming a reality, where the downtrend continues later on next year and we get to see Bitcoin hitting a good amount before the end of the year, that will still not be a bad one. However, even if it drops, this would just be a chance to get more anyway.

The market has been looking a bit good lately though without much bearish impact and I expect that with good volume we should be able to reach a good height.

Yes that's the lowest and I shouldn't hope for much lower one, because if that happens more panic could also possible. It couldn't help btc price to spike of its price but ended worst in the end. Let's be courageous always and never give up on our holdings, think for our dreams to become reality.

I hope that bull trend has started and now the market is expected to remain bullish for a long long time. I do not think that the price will dump any more, in fact now people have started investing in bitcoin and hope that it will result to a good market cap.

For me, I still have the feeling bitcoin will fall down again in September. Recovery too strong in the past also made me a little nervous because the script is very similar to June. I hope that I Wrong because I also want the bitcoin to end in 2018 with the lowest price of 5800$

We can’t say this is the bottom because were only starting September and too far from the end year so there might be another lower drop in other times before december ends

But lets all hope that this is the lowest and what we will seeing in future is price growth and recovery so others might win back the losses from January

It actual still means something. Many people still expect bottom to happen. Some most pessimistic even a year from now. Not to mention that majority of people on earth believe Bitcoin will go to zero.  We wil be sure of bottoms only after bullrun will start. That usually happen like half year after bottom happens. So only in Spring next year.

Let's see hows the price run was going to be this September bottom is almost $5.8k clearly on that range has a strong support to hold its price as that dip happens many times yet it didn't fall behind $5.7k, good start for the September to have $7k and counting up hopefully to 8k just this month, there would be a dip but we can't clearly state what would be the outcome.

This is not the right prediction to have a lower value than the current low value in the upcoming September as we all do not know what will exactly happen. Always hope for good and be optimistic about the future due to the unpredictable actions of Bitcoin’s value it is hard to know about its future value. Most important strategy we should always follow is to have a grasp in low market so as to get large quantity coins.

I do not think bitcoin can go any lower than that. The fact that the price has been falling would make people buy more. As to up-to-date, the price is increasing significantly. And I hope it will continue to rise. However, the problem is that bitcoin is unpredictable. If the price rises, then we have to expect the unexpected. I am not saying that people should sell their bitcoins right now. But all I am saying that people need to be patient because the price will grow.

We have come to the last few months of the year and usually the most noticeable period in a year in the cryptocurrency market. The price is unlikely to turn back, so you came up with the exact phrase.

You are absolutely correct, $5800 was the cheapest price this year but now bitcoin price came up to $7368 which shows the positive growth. There might be up's and down in the market but i hope bitcoin will raise to $10,000 by this year end.  Crypto market started to give back some good result hence the threshold of bitcoin will increase in 2018!!

There is always a limit for this as the cost of mining one bitcoin will not make it worthwhile. If the price is prolonged at a low point then people will give up and sell their asics. We are now 1.5k above the lowest point so support needs to solidify now around $7k

Well, I guess all we can do now is hope and in a way just follow the trend to see where it leads. One thing I can say is that we cannot say never until we are certainly sure. We are still not far from $5800 and presently, a quick drop in the market can still send up a lot back down eventually anyway and breaking $5800 could cause a quick drop in the market price. However, all these would be known with time as we cannot say exactly how the market will turn out since we do not know the future, so all we can do is monitor the trend and stay careful.

I still see us forming lower lows eventually in the long run and we are not done with the bear trend yet. Yeah, I believe we could go test the $5100 to $5300 region and see some good bounce from there before continuing with the downtrend eventually after hitting some certain position, but for now, I really do not see much volume or movement in the market which I believe would be the case unless we are able to cross past $8k. So any possibility of the bears kicking in now, the bear trend can still continue.

I think yesterday had experienced a decrease to a very deep and worse than you mentioned but if you know that it can actually be profitable because you can buy coins at very cheap prices so you don't miss that moment to buy as much as you can.

So are people buying more? 

when price is higher every say how they would buy more if have chance to travel in time. But when price falls they just gets scared to buy anything more and think to sell.

Nobody knows if this will not fall below that threshold value of bitcoin for this as we can't predict the market situation. I just hope that this will go lower than that as not to lose our patient to wait for the market recovery. I know we had a bad market for this year as a results of many bad news. I think the waiting is enough or we need more patience to wait.

People are probably waiting for what will happen next. Not.buying nor selling until we see a significant movement that may indicate another run. Weak hands are shaken off so i also think 5.8k is where we've bottomed out

yes the price of around $ 5000 is the cheapest point for the price of bitcoin this year and it looks like it's a good progress and development so this year the price can reach more than $ 20k.

Bitcoin surged again on Thursday night (GMT) and regained its previous position caused by the Russia-Ukraine crisis.
https://tintucbitcoin.com/bitcoin-tang-manh-tro-lai-lieu-co-phai-bull-trap/
Is this a great signal?

Yes this is a good signal for the current bitcoin price.
That's all because there are many from other countries who want to buy bitcoins to help them in the war.
Maybe because they can no longer use their central bank so they can't use anything anymore.
And we hope that this good signal will continue in the future so that many other investors will fall back to embrace bitcoin so that other altcoins will also rise in price.

If we talk about 2018 bitcoin has progressed for now, where the threshold was $5,800, then bictoin proved itself to be the best asset so far, this journey process is nothing but making bitcoin more valuable, although correction cannot be separated from its journey, but if you pay attention bitcoin has move up more significantly in 2021, meaning that the selling and buying prices are quite large that year, bitcoin's progress does not affect the downward correction at its lowest price, this year bitcoin has corrected many times, but has not shown at its lowest point