Bitcoin Forum

Earlier this year people thought Bitcoin price is going to cross $25k or even $50k. Now the price dropped around $4k. I guess few days ago I saw the price was around $3500. Which direction we are going by the way?

We are going the direction in which the market volatility leads us. 

I don't know why by now people still get surprised when the market drops it's all part of the nature of market and investment.

For some certain reasons bitcoin is down at the moment as compare to what it started at early this year we all have to accept the situation and avoid panic decision rather adopt strategies that best suits the situation

Your guess is pretty much just as good as ours. Even trader's opinions are still pretty much close to 50-50.

Looks like Tone Vays(if you know him) is quite bullish right now though, and for him that's frequently bearish? This might be a good sign. Take all opinions lightly though, and don't base your trades 100% off them.

Tone Vays' recent video: https://www.youtube.com/watch?v=0sZwoXzynuc

Thank you for the video.

Heard him for the first time. Following the youTube celebrities (no disrespect) make me confuse however I find DataDash reasonable. These people are more into making money by selling their courses/contents.

We cannot know this for sure,pump and dump is the order of the market and we currently do not have the forces or powers to avert either of the above..
Definitely investors and all bitcoiners all hoped for the bitcoin to reach the moon(who wouldn't),it's not so encouraging right now,but this is a regular trend and I think we're used to this right now. 

I believe that no one can answer your question.. Todays world explored almost everything. The scientists cloned the sheep. So we are living in space age. There is one unanswered question in my mind in 20 years; what will happen when we die? No one can answer this question right? But now i have my second unanswered question, which is; what is behind the bitcoin and what will be bitcoin price tomorrow. No one can answer this question too..

right, investors will be familiar with the current market situation, this will be the basis of their future strength to be more careful, the market will not move fast for an increase this year but in a slow but sure move

there actually is a market / mining dynamic equilibrium

find the cheapest most efficient mining cost. and thats the baseline of value support.
when market prices move too high they always correct down closer to the mining cost range.

in short people want BTC theres 2 ways to get it
1. buying it
2. mine it

when its cheaper to mine it they will
when its cheaper to buy it they will

when they buy it the price goes up, making mining profitable
when they mine it the hashrate goes up, making mining costly

when they sell it the price goes down, making mining costly
when they dont mine it the hashrate goes down, making mining profitable

yes there is speculation layer but if you can find the bottomline mining cost you find the bottomline market value people refuse to sell below.

no one can guess when a temporary spike of speculation will happen. but if your looking for bottomline support. look for the mining cost and youll find the base value equilibrium

EG in january people woulld have started getting their S15's. imagining a whole network running s15's
the hashrate would need to be above 210exahash to have a sustainable bottomline where the price is around $25k
for those wanting a $100k btc . the hashrate would need to be about 840exa+ to keep a stable market above $100k

Thanks for the nice content. You have explained well.

I think that things will come to normalcy. Few months back the price of bitcoin go worst and still yet the bearish still continue but one thing is sure that the bearish will end sooner than later. The good news about bitcoin will start coming in from January, 2019 hopefully.

Very hard to predict which side we might swing to. As a hodler, one does not have the pressure of always looking at the price and trying to figure out what is going to happen when but one thing for sure is that i will eventually rise. We just have to be patient.

When in early 2017, the price of Bitcoin was around $900, someone told me that at the end of 2018 it will cost $3,000. I laughed because I thought that the maximum can be $1500. It turned out that it cost $20,000 at the end of the year.
Now price is $4000 and if someone tells me it will rise to $100,000, I do not laugh anymore.

We're in no man's land at the moment, anything can happen, some people are speculating that we have yet to reach the real bottom, meaning that we could go lower (probably around the 3k mark), some others are keeping a bullish stance saying that we could reach 6k this month.

IMO we're probably going to consolidate around the current prices for what's left of 2018, unless the bears get exchausted and the bulls trigger a btc rally (highly unlikely but you never know).

This volatility can sure lead people to broken done but for some, it is an opportunity to make a profit, There is no one that can predict the exact price bitcoin could lead to but there is a lot of speculation that people connect with the past movement of bitcoin, Just like in the 2015 value of bitcoin we are having a bearish market back then, And this year is likely to be the same as that, So it is stumbling down and lead us to this price conclusion, But I think we can have a bull run just like what happened in 2017, In my speculation if I am not wrong it can be on the 3rd quarter of 2020 Well just my hunch.

it was silly to expect that there will be a constant growth, especially without a correction, it was expected that we would fall to the level of 4-6K, but I think that it’s not the end yet and we will break 3K before the rise

Bitcoin is not like traditional stocks where price can be predicted based on market conditions but price are based on speculations which traders do anticipate will happen in the future. The fact that the forecast price didn't saw the day doesn't mean bitcoin won't go up again. Hope bitcoin to hit 20000USD in 2019.

No one ever knows where btc will be heading to since it is very unpredictable and most people are just into speculation. In my opinion,  I believe that btc will further grow and recover soon and it will take a longer time. People should have to be patient since what comes after the  bearish market will be bullish market soon.

the price of bitcoin has been unstable sine the beginning of the year. it saw a major all-time-high of almost twenty thousand dollar as at late last year and has been dropping every month that passes by although it did maintain somewhere around six thousand dollars for a couple of months but the new dip it has taken has called for concern and people are curious as to why.

trust me we will see the price below 1k again

Bitcoin will be here to stay, but will not be able to go mainstream adoption yet. Cryptoenthusiasts have treated bitcoin as an asset like gold and silver, they keep accumulating them. I'm looking forward to a more useful application of bitcoin which is some kind of a decentralized and secured (not necessarily faster) system.

right, there is always a good chance, when conditions are bad, and bitcoin always gives a surprise surprise, when the price rises uncontrollably, everyone is shocked, and when it falls sharply everyone is surprised, so from now on get used to understanding the price movements of bitcoin so that in the future it doesn't make a wrong decision.

No one knows the direction it's going at the moment though, best option is to follow the market trend. Whatever direction it tilt to then we follow suite.

Meaning bitcoin aren't moving or increasing from the speculation, according from the people i heard bitcoin as currency up or down their price depend on the people speculation and prediction including good news and fake news.

But not true bitcoin moves itself as volatile cryptocurrency the proof is ven the financial expert was failed to predict bitcoin price! But i still believe there's have time for bitcoin value stability.

I think bitcoin will rise again because bigtime bitcoin holders will not allow bitcoin price to go very low. For sure price manipulation will occur again, expect dumps and pumps. I'm a bitcoin believer, so I believe in "Buy the dips."

Well, yea. While they do make money through their courses or referral links, I wouldn't count them out immediately. I'd prefer people to make money through making courses that teach technical analysis and referral links of reputable exchanges and trading tools rather than people selling access to those scammy "trading signals" group.

Also, yes. I think DataDash is good too.

Yes of course! Everyone is suddenly very surprised by what happened to the price of Bitcoin! Not true! Only those who became interested in Bitcoin in the last two years are surprised. Anyone who remembers the previous bubble is not surprised at all by this situation.. and will not be surprised by another bubble and new ATH over $100k  ;D 8)

if a youtuber is selling courses. usually they are not successful trading. thus have to make secondary income from youtube.
if a youtuber is selling courses. usually they are not successful trading or youtube so they have to sell courses.

a good way to spot a bad youtube trader
1. when they talk. they only talk about a line THEY hand drew on a chart where they just chose 2 points and drew a line.
these people are not Technical Analysts. they are what i cal Trend Anals
2. if they then use media as their non market external data

good and proper TA use:
UTXO movements/stats
mining hashrate
mining costs
coins moved per block
arbitrage data

so if you see a youtuber just looking at a btc<>usd chart and drawing a line and mentioning 'back in 2013'.. unfollow them

I agree. Hence why I always recommend to take these YouTube trader's opinions and analyses really really lightly. I pretty much just watch some of them to hear the opinions of different people with different ways of looking at things.

I'm pretty sure the extremely successful traders that are making big bucks aren't making videos and courses but instead are just at their homes in their pajamas.

there is no definite thing in the prediction, because after all no one can predict 100% on this issue. therefore, do not believe in any predictions without information. however, many believe that bitcoin has the potential for it, and if not this year, it will happen next year. remain optimistic.

Quoting for future reference and study.
Very good content mate. I left a couple merit for you. Thanks.

Dream on :)

I am quite a bit surprised that this question is being asked by a hero member in the community usually it is the other way around as newbie members are the most likely ones that are clueless when it comes to where prices are heading. But to tell you what my thoughts are about Bitcoin, I see that Bitcoin retracted its consolidation level from 6,000$ to 4,000$ which just show that we might still be bearish for a while. At this point all we can do now is to watch on whether it will attempt a break out or a break down towards the end of this consolidation.

It's depends in the time range, if you are asking about the price this year then it will around 4000$, but for the future it can rise higher, for sure I don't see bitcoin is going to fall under 1000$, the situation now is quite bad, the market is unstable and full of manipulation but there are good and positive news that coming, so if we keep on encourage people to used bitcoin then bitcoin will recover faster and the price will rise higher

If you have been following this market you should know that bitcoin has been fluctuating for years now and what you are seeing now is not new to long term traders.  Those that has strong mind are buying now and those that are scared of price falling are avoiding the market.

the price will half again, to around 2k, wont start rising again till mid june.

just my opinion tho.

Price will be pretty much stable most of 2019. Probably at the end of the year price will be higher then right now.

This happened to many people back in the day as well. There was a lot of people who happened to have bitcoin right at the early stages and when the price soared to 30! dollars a lot of them came back to sell. Guess what they are feeling right now :D So don't be sad that bitcoin is 4 thousand dollars right now, be happy that it is 4 thousand dollars. We wouldn't be even guessing a world where bitcoin was 4 thousand dollars just couple years ago when I was getting in. When it was about 150 dollars I thought 250 was the max it could reach with how it was used. Now there are ETF talks going around and people are really sad because it went DOWN to 4 thousand dollars. People like me who have been around for a long time are still shocked to think that bitcoin price is 4 thousand dollars. We are still at early stages if you consider it that way.

Again, this market is based on pure speculation and it bubbled around the $20k mark that's why the price suddenly goes on a dramatic downtrend. Yes, its hard to see the price hovering around the $3500-$4000 mark specially when it was very stable around the $6000-$6500 just a month ago and it seems we're having hard time bouncing after that. With that said, I think the price will remain at $4k before the end of the year because there's no catalyst that will fuel a reversal. We can only hope that 2019 will be the beginning of a bull run because of the BAKKT future offerings.

that's for sure... whichever direction the market decides and of course influenced by a lot of factors
some will try to predict it and the rest will follow whoever they think come up with the best prediction  
then buy and sell happens, they are trying to make their predictions to happen
whichever stronger side will drive the price to its direction

I think the price will stay in range 3700-4000$ for some time and also i think we will have a bull run and a grow in price but only next year. So i will still hold for now and also i will get more bitcoin and i will hold until i need some cash money but i will not sell all my coins.