Bitcoin Forum

Tittle.

If anyone here knew they wouldn't be here.....

I bought on the way down, yet again, and my results for today are:

Bitcoin @$3500 @$3350
Ethereum @$94 @$90 @$87

I use smaller amounts to buy with, which allows me to do some longer term buying while the price is still going down. I don't mind it going lower, but it seems that $3000 might be a temporary level to bounce from.

I will stay up all night to see how it moves on.

I can not tell you what to do, but i personally won't go bullish on btc before i see a re-test of the 2016 highs, anywhere from 900$ to 1100$. to me, any bounce before this is a bull trap which unless you are a day trader then you should not care about. for eth i am looking for 30-40$ , ltc 12-16$ xrp 7-9 cents. i will surely buy btc at 2900-3200 if i see a reversal signal, only to make a day profit  by dumping it for a small profit. but for me to start buying BIG i will wait for those numbers.

will also keep some cash for a potential drop to 400$-500$.

another position where i will start buying  is breaking 7500$ , retesting it, showing great bull dominance, then i will go long. but anywhere from 6k to 1k i will only look for shorting.

Good luck

I remember people like you in 2015 calling for double digits - same story. Never gonna happen. I'm sorry that you missed your big chance - it's not too late, though.

wild guesses:
BTC $2900
ETH $65

it's pretty hard to predict ETH because it reacts to bitcoin's volatility. in other words, when BTC crashes hard, ETH crashes harder. given that $3k is the only tested support from the bull run last year, i feel like it'll be defended by bulls.

it is impossible to say because we are now in uncharted waters and the drops are not natural. in my opinion the drop is purely because of whale manipulation in addition to traders leaving the market which has made it even easier for them to manipulate the price because of lack of "resistance".
so the end of the drop will be either when they decide they can no longer make profit or if the rest decide they want to start buying back at a certain low price where the market decides is the bottom.

as for ETH, it is mainly following bitcoin down but also we are now in a stage where all those bag holders who have been saying it will go to the moon and replace bitcoin (flippening LOL) are now realizing their mistakes and panic selling. additionally the ICO owners are also trying to cash out their free money which is increasing the dumping pressure. so ETH can have a much harder crash pretty soon.

Yes this big impact cannot be tolerated if we think continuously it may lead you to depression. It's quite hard to predict the situation of the market no one knows what will happen going forward.

Something between $700 and $900.

ETH only really kicked into gear when the ETF was denied in early 2017. At that point it was hovering around the single figure mark.

Since then it's managed to burn untold amounts of money and people and left very little of substance behind. Maybe single figures are beckoning again. The stuff that does make proper use of it like the stablecoins that have been launched on top of it are price agnostic.

I am losing hope in bitcoins as the market has been down for like over 7 months and has shown no improvement since then. Bitcoins were over $20k in the beginning and then it fell to 11k and now it's as low as 3300 and Ethereum has suffered even more and is $85 along with the other altcoins that are on the verge of dying. If the market continues to fall, many investors will just sell their coins at distress rate.

I've thought ever since we broke the 6k level that the bottom would be around $3k so I wasn't overly disappointed to see today's crash. It had an inevitability about it and I'm glad it was sooner rather than later. That way if my prediction is correct we will recover sooner.

3600 looked quite strong. Each time we touch it there was nice bounce. I thought that this might be bottom but i was wrong. 3400 doesnt look that strong so i quess it will poop faster. Maybe even today. But in the end its all depends on whales.

I have been buying constantly sonce the dip of 6000 at 3700 I bought some more. But in small amounts just divide your money and buy in small amounts in each big drop to have a good average. It’s impossible to know which will be the real bottom before another bull run and when it happens you will have missed the train and will have to buy at 7.000 or more. I hope I can buy at 1.000 or 700 prices but it’s unlikely to go that down.

One thing I noticed lately is the way the stock markets fall, and how the cryptomarkets follow suit despite the notion that these two markets are inversely proportional, and it turns out that that's not the case. Calling the bottom at this point is a dire effort honestly, and if someone knows for sure they will be watching the markets closely and hit the buy orders once it is touched by the price. Idk, $2500 is a strong feeling that I have, and that's me hoping for the best seeing that no strong support levels are in place in the major exchanges I've been frequenting lately. Sub-$3000 is still a possibility though I won't wish for it to manifest in the market any time sooner.

I also noticed that the Trump China trade debacle is killing the stock market and somehow it seems it is also pushing down Bitcoin.
Anyway this might be a good sign. If Bitcoin is part of the global financial system then it should be affected by the economical situation like any other currency.
However you would expect people to flee fiat and therefore push up the Bitcoin price. The opposite is true somehow...

Interesting....

I think the bitcoin can go to 2000$ and ETH to 30$ but this is only my opinion. Anyway i will buy some and hold for long term if the grow will not start so soon. I don't know who is playing with the price or if this is a real cashout from crypto, but whales are buying now and fill their bags.

It doesn't seem so. If whales are already buying this dip then we should be able to see a little upward movement that could even start a run. However none like that is happening. Eth is more of an eyesore to look at. I'm looking to hold long term but i feel for those who got caught in this bear market.

Yeah, just another myth that the whales are bringing down the market so they could buy cheap, but as you said there is simply no buying, it's the same as at 10k and 8k, everybody was saying people are buying cheap coins to fill their bags and yet here we are, circling around the edge of 3000 and the are simply no buy orders.

ETH fell like a house of cards with close to no resistance and unfortunately I must admit BTC isn't looking far better.
It's going to be one long winter and at this point, I'm just hoping we will see only one, not 3 years of bar market like last time.

As for the bottom, I doubt even God knows!!!


I've been saying this for a long time, a crash in the financial world is the last thing we want, cryptos will be the first affected and you won't see people pulling their money out of stocks and into this market.

But at this point, I doubt the dump is caused by the turmoil happening in the stocks market, even though I have no other logical explanation myself..
 

People want something to believe in, so that they can justify their decisions to themselves. There was little buying at 6k even when we where there for months, there just wasn't much selling either. Now that people started to sell we can see how quickly we're falling.

The argument about stock markets is naive. Why would people pull their money from one falling market and move it to another falling market? They'll be pulling their money from stocks to cover mortgages, debts, business costs etc that they're struggling to cover because the economy is in a downturn.

When we first time hit 6k there were a loot of buyers. Huge buy volume pushed price up. Same was second time. On 15 min candles you could see how manny investors thought that 6k is extremely cheap. Each bounce after that was weaker. There was less buy strenght. Last 2 bounces was made without strong buyers. We didnt break 6k half year ago just because whales was too scared to break it and they stops selling close to support. It was obvious that we will break it sooner or later without good news (like etf).

Now 3800 looked strong. Again we had stron buyers thinking that 3800 is cheap but panic selling break them in 10 days. Now 3400 after bart formation looks good but not as strong as 3600 was. I guess we will again break it and maybe find stronger support at 3000 or 2500. For now we need to have hope that 3400 will hold long enough.

The first few times we hit 6000 that is true, but not after we got stuck there for months on end. That in hindsight seemed like a clear indication that there was little buying going on and that eventually with some negative news that support would break. It could be the same thing with the 3000s if we can't break out before too long.

It is difficult to predict for sure and depends on market conditions, and if the market gets worse then prices will fall further down, and maybe btc $ 2500 and eth $ 60.

Nope. $32 bubble top, next bubble's ($1160) low was $150.
Now, do you think that $150 is lower than $32?
Rhetorical question.

That used to be the case when people had a heady two bubbles to choose from, 2011 and April 2013.

April was possibly Gox messing around.

I remember people preaching that mantra in 2014. Then it was pissed all over in early 2015.

Considering the April 2013 run as its own bubble cycle was the mistake, due to recency bias. People used to consider the August 2012 run its own bubble cycle too. Now nobody even talks about it (for obvious reasons).

If you pull out a chart with monthly candles and account for Gox history, there's three distinct cycles: 2011, 2013, and 2017.

bottom is 2500 dollar for btc and may be 20 dollars for ethereum.

they will see these values on december

after that they will go to moon .

i hope.

If the bottom of 2500 for bitcoin is accurate (I don't think you'll be far off) then ETH bottom will be nearer to $50 and not nearly as low as $20. ETH and all alts normally fall about 10-20% more than BTC value does. That's 10-20% of the amount bitcoin falls, not an additional 10-20%. So a 30% fall for BTC now to 2500 would be about a 33-36% fall for ETH which places it around $50.

I doubt it will go that low just because tommy lee's brother says so. $3000 for bitcoin will be a hard floor to break, but ethereum will probably get dumped to $40 due to ICO dumpsters

Based on what I have been reading and most of the popular speculations I think the moon maybe in 2023. The last high of bitcoin price of $20,000 may be breaking in 2022 or 2023. We just need to hold longer enough in other to be able to take the advantage of the cryptocurrencies market in future.  Those that buy in 2011 or 2012 and we're able to hold till last year has made serious money if they were able to sell in November and December of last year.  Most of them are current billionaires and millionaires.

Its hard to speculate what could happen later on when most of the traders are still not even buying back what they have dumped since the Bitcoincash fork. there ain't so much to expect. If the price really is going to drop this low then be it. Lucky for those who can afford to buy if the price reach to its bottom.

This bad condition is still not over, maybe the price of bitcoin will fall to the price of $ 2k and ETH will fall to the price of $ 50. I think this condition will continue until the beginning of 2019.

Even the whales and large traders can't tell you where the bottom is in. You can use technical analysis or fundamentals to give you clues but its never an accurate indicator.

Right now, it doesn't look like $3200 might be the bottom, the bounces were all weak and they were mostly the shorts covering. Same with ETH it seems very weak and most likely $80 wasn't the low either.

in my opinion saying the price of bitcoin will fall to the price of $ 2k is too excessive, I really hope that doesn't happen. if that happens, investor confidence in bitcoin will decline.

I'm not seeing any bad news around to make another crash to happen. Most probably this market will not break $3.1k price levels. Because, most investors got feel about bitcoin is currently available for very much cheaper price levels and they are coming forward to invest again to make use of the current situation of bitcoin market. If this trend will be spreading out then we can assume about the bottom is already done.

Even, if this market will be breaking the strong support line around $3k levels, it will bounce back immediately similar to how it has done around $6k levels. I'm seeing good volumes on most major exchanges which is the first symptom for trend change. Expect the good things to happen hereafter because this market is poised to have positive run in long term basis.

we don't know what can possibly happen, in most speculations there's always a story behinds and there's always people who will dive into it and follow the lead, its better to make your own assessment and not to rely with someone, so just in case things won't happen according to your plan you still have the guts taking the risk and wait a bit longer.

Seeing how things are going, the Bitcoin price can easily go below $3,000, even before the end of the year. People were saying the bottom is $7k, then $5k and now they say like you, $3k. In 2 weeks they and you will say $2k... Nobody can say where is the bottom, especially here,  everybody shall have his own bottom.