Bitcoin Forum

In the past 3 months, the Bitcoin price has been relatively stable, performing strongly against the U.S. dollar with solid volume across major markets in the likes of the U.S. and Japan.

Since December 16, within a 3-month span, the Bitcoin price has increased from its yearly low at $3,122 to $3,943, testing the $4,000 resistance level.


https://www.ccn.com/wp-content/uploads/2019/03/chart-5.jpeg
3-Month Bitcoin Price Chart (Source: Coinmarketcap.com)


The stability of Bitcoin has led many tokens and alternative cryptocurrencies to record large gains against both BTC and the USD, with assets Litecoin, Enjin Coin, and Kyber Network surging by 50 to 100 percent in short time frames.

However, speaking to CCN in an interview, a cryptocurrency technical analyst known as “Bleeding Crypto” said that a drop to $1,850 still remains a strong possibility for the dominant cryptocurrency.
Why $1,850 For Bitcoin?

Earlier this month, after Bitcoin cleanly broke out of $4,000 but failed to break out of the crucial $4,200 resistance level, the technical analyst said that a drop to $2,400 to $3,100 is likely to be the next near-term move for BTC.

    Bitcoin > $4,000

    — Barry Silbert (@barrysilbert) February 23, 2019

According to the analyst, in mid-2017, Bitcoin remained in the $2,400 region for several months before dipping to $1,850 and establishing a bottom following the Bitcoin Cash hard fork, which led to a bearish trend in the market.

Bitcoin never re-tested the $2,450 mark once it recovered from $1,800 and due to the steep decline in the price and momentum of the asset in the past year, the analyst said that a potential drop to $2,450 is possible in the months to come.


Reference: https://www.ccn.com/bitcoin-price-could-sink-to-1850-despite-bullish-crypto-momentum

it seems to me like day traders are starting to get bored with the stable bitcoin price again since most of the small fishes have already finished their accumulation so now they want action. since they have low faith in whales letting the price go up they stick to spreading nonsense FUD to go the other way and make profit in that direction ;)

I'm not surprised specially the news coming from CCN. They wanted some action and probably bored with what's going on in the last 3 months and started to create FUD. Bitcoin's price seems to be very stable at the $3000 high's so I don't see the price sinking to $1850, it doesn't makes sense. Although we struggle to breach $4000 again, it doesn't mean the price could go on another massive drop. So yeah, this is just another nonsense FUD and I do hope that those who read it won't believed such drop would happen.

I don't see a $2,000 price at this time. It was expected 3 months ago but I think the price has left that zone and heading to $4,000 is the actually sentiment of the market for price to begin bullish.

I don't see this happen now because the market is currently in another channel base on my trendline analysis.  I don't think bitcoin will go down that way this year again though it is still very possible for this to happen.  In this market I believe that the uptrend is more pronouncing currently and the bearish sentiment is really dying down.  The cryptocurrency market is recovering and that recovering may last for a very long time before we can see another market directions again.

Oh no >:( I really really don want to experience another steep wild downfall. It is really painful when seeing my savings are melting down. In recent times, this types of topics got reduced in numbers but again seeing one and spreading enough FUDs. Other than support and resistance details, there is no enough things were stated for justifying why it may fall down to $1850. It seems that they want to match up with the price levels happened in January 2015 but in 10fold. After experiencing more than a year of downfall markets, I guess I will still hold tight my bitcoins to face "anything". Still, praying to God, like most other speculation, this too must go "actionless".

I'm sure this is another paid article to start FUD to take down the price of bitcoin. I saw another thread from bitcoin discussion section where someone posted a different article but in the same source CCN.

It seems there is a big trader who wants to buy bitcoin at a lower price. I hope those people who posted this kind of article realize that it can't help bitcoin to grow again.  There is no exact prediction or analysis and I believe that the price of bitcoin will stable around $3k to $4k these following months until the ber months we will see again the price is rising.

I would rather wait and see if what you were talking about could actually change the entire market. Aren't you happy about the stable price of Bitcoin that you want to show some FUD to let others think that it will be going to shrink on that level?

It may be bearish now but $1850 is just too low that in my opinion doesn't match the previous bottom.

It just depends where you look. When the price is sideways, everyone's got an opinion. If you ask this trader, he says we'll never see $3K again, let alone $1,850: https://bitcointalk.org/index.php?topic=5120602.0

Personally I think it's still too early to call. Towards the end of 2019 I'll probably have a strong opinion about whether the bottom is in. Right now it's only been a couple months since the last crash. It could be a bearish consolidation and we're going lower or it could be the very beginnings of an accumulation phase. After a 1+ year bear market we need several months more accumulation, and then we need to break up from that accumulation phase, before we can start assuming the $3K level is the bottom.

Until then, many trend traders will keep playing the bear side and assuming the downtrend will continue.

It's not too low if we visit sub $2000 levels and we stay there for months. It's low when we visit sub $2000 levels and we pump straight above it rapidly. We only find out when it actually happens.

The funny thing about people saying that certain levels are low, is that they don't actually use that as an opportunity to buy because they don't think it's low at all. People wanted badly wanted to buy below $10k, where are these people?

It's just the market doing its thing and people go with the flow, which means that they sell what tanks and buy what pumps. Hovering below $4000 means that current levels are NOT low. Accept it.

Well none of that sentence is true. just none of it.

Going under $3000 at this point looks highly improbable. Its been a full 3 months since the low of $3100s and right now Bitcoin has been stable in the 3700s and 3800s. It will likely stay in the $3000s for a few more months I would bet, but to suggest a 50% crash at this point is a bit preposterous. I mean anything could happen, but I'd put that at like a 1% chance of happening. Right now I'd put Bitcoin even hitting its $3100 low again at like only 20% chance - unlikely but possible.

So our prediction basis is someone named "bleeding crypto"? Wonder why someone named bleeding crypto would make predictions about bitcoin going down... I mean from just his username of "bleeding crypto" it looks like this dude usually always says positive things about crypto and pretty much is a big bull guy but said it will go down just for this once.

Lets not kid ourselves bitcoin will not go down to 1850, the only and ONLY reason for bitcoin to go down that much would be some huge whale selling thousands and thousands of bitcoin all at once just like Craig did in November, there is absolutely NO WAY other than that for bitcoin to drop to 1850 dollars. I am not saying we are going to be 20 thousand dollars in couple months but if we are going to drop it won't be that further down for sure.

We are the same perspective view in the movement of crypto price in the market, it is impossible that the price will back and crash into $1,850 which is now is going back to bullish trend. However, this is the only speculation but the fact is we don't know yet what is possible to happen. Patiently wait is the key to success, I believed.

Yeah, I'll believe it when I see it--and I'd also love to know their definition of "near-term".  Without giving an exact time frame, these predictions are more or less useless.  This is one of the reasons why I don't put much stock in technical analysis, no offense to all of you traders who do.

In the meantime, at least bitcoin isn't dropping a hell of a lot.  Since it's been stalled at roughly $3500, it's been very useful as a currency and I've been using it as such more than I ever have been.  True, I'd love it if bitcoin shot back up to $20k and beyond but since I recall times when it was trading at $300 (and even lower than that), the price we're at isn't so bad.  And there's a lot to be said for a currency having a little bit of stability.

Although, bearish market is still exist in the market but there's no tangible reason why the market bitcoin price will sink to the mentioned price range and I believe the technical analyst which predicted the price to sink only said it base on no much improvement in the market.

Why is that? If you have an edge in knowing where price will go, time won't stop you from profiting. It'll only delay your profits.

Time is the absolute least predictable aspect of markets. In fact I immediately write off most attempts at timed predictions as nonsense from inexperienced traders. What's more is these analysts mistakenly apply past time and fractal models to the current chart, which makes no sense since Bitcoin moves at a glacial pace compared to years ago. With each passing day it moves slower and slower.

I really like Tim West's approach to this issue. He looks at price consolidations, measures the time price spent there, and uses that as a gauge for how to time the subsequent breakout trend. If price doesn't follow through before "time is up" that's a signal the market successfully bucked the trend and we should start looking for a reversal to trade in the other direction. So Tim doesn't look at time in terms of prediction but instead uses it to prove or disprove his trade setups.

In general people should just stop making predictions and start focusing on how to react to the market. Entering a trade because your system says there's a 60%+ chance of banking profit ≠ prediction. It's just reacting to market conditions that are reproduced so many times that we can profit from them on the basis of probability.

Oh, the old predictions are back. When the price is stable for a long time, people start to get upset and lose faith and begin to make the lowest predictions possible. this has been one of the biggest crypto problems since years. How did come to the conclusion that the price would fall to $ 1800? when the price was $ 3400 many people said it would fall to $ 2000, I believed it and I kept my money waiting for the price to drop and the price went up to $ 4000. Haff, it was a lesson I learned, we should just read the news and never trade based on these news

OP, you believe that this ongoing stable pattern would follow that dump that took place after a stable period of $6-7k range? It truly indicates the fact that this article is more or less being compared to old times when BTC fell down below 50% in a few moments. But trust me, not just is the momentum bullish but there are lots and lots of great news and reasons as to why BTC could get back over $6k and maybe $10k any time soon. The long-awaited bull flag seems to have been broken and history is the evidence that whenever these breakouts occurred after such long wait, BTC had always chose to go up rather than the direction you're talking about.

It all depends on the 200 wma in my opinion. As long as we respect it, the most we can expect are wicks trying to dig deeper, but as long as there isn't a weekly close below that moving average, there is not much to worry about. A weekly close below the 200 wma would definitely make me short Bitcoin, because the bloodbath will continue in that case.

It's highly unlikely, but if the market is really out of steam, and we get that weekly close, you don't want to be that sucker hoping for better times while only worse is what you'll be exposed to.

Just because a resistance isn't broken, doesn't mean that all of a sudden, prices are going to tumble down.

I respectfully disagree with this person's sentiments, because I think that during this bear market people have gained a much more realistic expectation of the market compared to the FOMO in 2017. This means that the markets are most likely going to be less responsive to negative news, which means that panic dumping to result in a further -50% loss, especially at this stage of the bear market when the floor seems to already be in any ways is very unlikely.

This is not to mention that there are plenty of adopters now gained from the bull market of 2017, as well as the institutions that entered in 2018 that will likely spark demand for cheap coins at lower price levels.

I wouldn't necessarily call the current momentum bullish either. It could be the start of a recovery, but we are yet to see any form of major rally happen. Though, $4k resistance is only a matter of time before it gets breached.

You know everyone wants to just have their own opinion just to gain popularity or respect as someone who has verse knowledge of the system, meanwhile they have none. Why should he predict judging it from the angle of trend when trend has no influence of the current way it operates ? None of them really makes any sense as you said; these are the bunch of news about Bitcoin still limiting its progress too.

This was how a well-known analyst too predicted that by march, bitcoin will fall to $1800, this is march and bitcoin has not even fallen below $3500.

People have been predicting sub 2k since last year, and I have yet to see the price go down sub 3k. Maybe that there's people that still have a somewhat bearish sentiment left over even though we've gotten rid of that sentiment by a lot over the last few months.

Imagine if people actually believed those sub 2k predictions, they must be kicking themselves in the head now after missing out on buying at the low 3k range because they thought it was going to go down when actually the opposite happened.

But all in all, to me, this article is either FUD, or the "analyst" got paid a big sum by a big whale that still wants to buy cheap coins.

In order for Bitcoin's price to fall below $2,500 it would have to rise very rapidly - break the $4,000 barrier and jump to about $5,500 - $6,000. Only from such a level would it be possible to create a new panic sell and find a new bottom.

OP, I believe someone is very distressed, spreading FUD, because he might have miscalculated and missed a good opportunity of buying the "low" $3,000 to $3,500 price limit. 8)

Just remember how much we were sure the price would not go below 6000$, but this has happened after months of stability. I do not think that's the same situation now, although it is evident that 4000$ is hold very strong resistance for now. Usually after a few attempts to broke such resistance point, in case to be unsuccessful, the price starts to move in the opposite direction.

I personally do not believe we can drop so low, but some speculators believe in that possibility - and most of them are saying that 6000$ will be broken with time, which is exactly what happened. We can call it FUD, or just attempt of some players to buy bitcoin at cheap price, but the rule is that there are no rules when it comes to bitcoin.

It's conceivable. If there was any sustained selling most would run screaming and let it fall. There are very few people out there willing to resist a concerted attempt to batter a price level. They come skulking back when it's all over and claim they knew it was going to happen all along.

I don't care any more about short ish term prices. What will be will be and nothing will change it.

I don't just to believe any speculating the market without any strong evidence to back up there speculation and personally with the look of things in the crypto currency market and the news coming in, I don't think there will be any further decline to the turn of $1,850 in five months to come.

I dont think that 5k+ usd to 6k usd can create a panic sell  . thats too low imo  .  people wont probably continue to hodl and buy more coins if they see that bitcoin is skyrocketing  .  we dont need to see any ath before we decide that bitcoin is going to dump because btc could actually dump anytime if ever people will sell their coins . whales can also dump the entire market if they want to  .  lets hope they dont  ,

That's right, wen need to be more wiser not to wait before the momentum change, as we are continue to witness the down and fall coming out
from this market, we don't need to wait but we need to believe with our own assessment, this market will be a great venue for people who can
handle risk and always willing to stand their grounds.

Despite the fact that he came of live TV to analyze this, everything is still speculation because no one is really sure of the direction the coin will take since the major determinant is the usage and adoption of the coin. This year will record its number of newly introduced investors to BTC which will definitely have a very great influence on the value of bitcoin, and so long the market cap keeps increasing. I see no reason why BTC will fall below $3000 but rather keep appreciating till it succeed in finally breaking the $4k resistance.

I disagree so much about bitcoin price sinking to $1850, if the price of btc is going to get to that stage, then I think we should be there already. Bitcoin has built a resistance around $3000 and I don't think the resistance would be broken in a negative manner but rather in a positive way because we a going to see a massive bull run in the price of bitcoin especially at the fourth quarter of the year when everyone has given up.

Hey Bitcoins is not sinking anytime soon and all these numbers are just a ploy to make you sell your bitcoins. If you may have observed everytime bitcoins starts to rise post a bear phase these so called analysts come up with similar numbers, the fact is they’re jealous and upset they sold it early. Also it’s pertinent to note that bitcoins has a strong resistance around 3300$ levels so there’s no way it’ll sink.

Look at the 1W charts. We are crossing the bollinger band center. If we pass we have a good chance to easily go to $5500.
The passing of the 1W bollinger band is a bullish sign in my opinion.
We won't see Da M00n soon but we will see a slow steady increase in the oncomming year.

Bitcoin is also have resistance at 6000$ for months, and then when most people expected some December bull run it just sink to 3000$. I wonder why you think that massive bull run can come at the end of the year, and what will make the difference compared to the previous year?

In my opinion only some big positive event / news can be a trigger for bull run, which should never be excluded as a possibility. But some bad news, or hack of big exchange can happen at any time. We need to be positive and hope for the best, but at the same time we should not forget how bitcoin is unpredictable.

I think this month gradual pump and dumps are happening because If we saw the last week chart and 4 years ago chart some coordination was happened so we will expect the bull run on April or May. Already cryptocurrency awareness was spread in entire world so some countries are plan to legalised in Bitcoin. This year market was totally different from last year so Bull run possible soon.

The situation on the market that we are having now I wouldn't call bullish. It's still far away from that, it's just smaller positive price correction which still doesn't show clear direction or trend. So, changes in both ways are possible and that also includes price dump. Would it be as low as 1800$ this is hard to tell, it depends on many parametrs. Still I don't expect some huge price downfall, it's more likely that it will stay in current range with smaller fluctuations in both ways.

The user name is exactly what he is predicting, he is predicting a downfall which means the market will bleed in the near future.  :P
@OP if anyone is so confident that the market will go down like that, he could make a lot of money in the future market, just use his talents in technical analysis and make a hell lot of money with those analysis and then he should publicly post his exploits in the market when the entire market goes down, rather than posting technical news after news without much substance. ;)

Well, if it's just a technical analyst with a chart base, it's debatable, it's not so bad that I can go down to those levels, it's totally valid, but I find it a bit difficult to reach those prices, as it would cause disappointment. in many people, and they would leave the market, they would kill all their castles in the air, as they say in the book of A Random Walk Through Wall Streeth by Malkiel Burton..

And most market speculators are interested in many more people entering the market to invest, there are also many enthusiasts interested in the technology that represents and have a good future and, from the point of view of analysis, We are in a phase of Accumulation (according to Wyckoff's philosophy).

Truth would not trust me in those analyzes, I'm sure the technical analyst has never shown his operations or his balance.

Bitcoin below $2000 seems very unlikely, but I have learnt nit to rule out any scenario in this market. But this is just an opinion of one and as such does not hold much weight. Can Bitcoin drop to zero? Yes it can. But is it likely to? No!

Maybe after decades of no progress, but in crypto there is no such a thing as a coin becoming worthless as in zero. Even scam coins that got exposed years ago still have some sort of a value tied to them.

The worst part is that during bull runs these coins are getting pumped to the moon after a lengthy process of accumulation by pumpers. People buy these coins hoping for that massive pump.

It's sad to see this take place in crypto, but what can you expect from an industry that thrives on speculation and moon shots? People ask, and scum delivers, that's how the situation is here, and it won't change any time soon.

It's possible to see botcoin dropping but below 2000$ is a bit unlikely, the support level of bitcoin is high, when it fall down at certain level we will see a lot of people buying, when it fall down below 3000$ I believe there will be a lot of demand, chart and speculators did said that the possibility of the price falling down below 2000$, but I don't think the market and the investors will allowed that to happen

We know those people mate and we have gone past the stage of panic selling now, how will someone go through that stress of analyzing the downfall of bitcoin prices if he is not part of whales, right now, we are all ready to play along with the whales, we cannot be shaken again like it took us by surprise in 2017/18.

Bitcoin has even proving itself strong when it went against their prediction of getting back to $3k last week which reverse was the case, bitcoin ended up seeing the light of the day and crossing over the $4k boundary, same thing bitcoin will keep doing now till it gets to $9k before the end of the year.

It is, but I'm confident that there's a higher probability that Bitcoin has hit bottom, than going through another crash.

Bitmain has already showed its cards in anticipation of what might come, https://bitcointalk.org/index.php?topic=5122170.0 8)

Well that goes for me as well. Trying to figure out short term movements for btc is quite stressful and if you can afford to go long then why take a bigger risk? I think if the price is still going to drop, it's not going to be far from where we're at right now.

I believe the miners, and the ASIC-making companies are taking the biggest risks of all compared to all the other Bitcoin speculators. If they are becoming more aggressive, then I believe, so should we.

Nope its a huge dump if it will happen.  Because bitcoin now is making progress up to 5k value base on some expert analyst. So if it will fluctuate after this bullish. perhaps it will stand still on the current resistance wherein 3k value and will not go further in my opinion because of being have strong support.

But since this news was released, bitcoin was still making a good price rally and even touches $4k. Another reminder that when someone wanted to create FUD, and make people panic, bitcoin price goes into opposite direction.

And now that trading volume is spiking, I doubt that the price could sink < $2k as the article is pointing. Maybe this is the start of a slow recovery process, next stop is $4200-$5k. So once the price goest to that level, I don't think that we can go below or even see another all-time-lows.

Of course there's still a chance for this but I guess most aren't thinking of this right now and I guess the percentage of this is quite low. Most are focus and thinking of bullish momentum. Also, for me, we have a greater chance in breaking $5k rather than going down into that price.

your bigger problem will come once the us dollar breaks, and the euro usd parity that is still guaranteed by the indepting european banks and especially german banks, will be given up.

bitcoin will crash to level 1800----2200 for sure , people follow uptrend , for this reason price over 5300 now , the crash of bitcoin does not end till now
if prices dont crash this year 2019 ,for sure, in 2020 prices bitcoin will crash to level 2000

I wish the one who said this can state the time and date of the possible sinking of BTC to $1850, else this is just some general assumption as there is no special in it.  I wonder why newspapers publish this nonsense guess.  It is too tiring to see this kind of guesses as if they think they are too smart but then if we dig into it, it is just a generalized guess that is known to all because in a trading market, one can goes down so low and goes up so high.  But if they give time lines, that is another story.

I'm not expecting that to happen, I have to respect some opinion that they are not bullish on crypto but we will only find out what will happen
if the right time will come. I'm not sure it will rise but I believe it will, that's the only thing that convince me to still investing despite experiencing a bad year last year.

Under the current circumstances, such low prices are not viable. Even at 5K, a lot of mining pools were facing losses to their daily operations. In case the exchange rates goes below 2K, then these losses will amplify and make the mining farms unsustainable. Also, the previous dips have shown that there is strong support above 3K. It will take a lot of volume to breach that support level.

Right, that's why the price didn't dip below $3k, because we have a good and strong support. So I disagree that at this point $1850 is possible as we are now entering the bullish zone.

And it looks like mining is now profitable again and it could be a sign that those miners who shift to BSV might be coming back to BTC again for all we know.

I am not sure how miners will survive if price drops to anything below $3000 and honestly miners will have to shut down temporarily because that's what happened with ymslf as I used to mine Ethereum during for a long time but I had to stop it in the month of September 2018 as the value of Ethereum decreased drastically and I ended up incurring more electricity bill than the earned ETH.

They are not going to shut down their operations. Because they need to cover the capital costs from the daily mining revenues. The large-scale miners will just shift to mining another crypto-currency, such as BCH or ETH if the Bitcoin mining proves less rewarding. BSV is not a viable option right now, due to the widespread delisting campaign.

No this will not happen even if there will be a massive dump on my opinion, but now i think is not the situation and the price will continue grow even if there will be some stable periods or some small drop.

nowadays most people still keep it and my opinion they will not sell it unless the users are indeed looking for a short profit. the price will not drop to $ 1800 I believe if the price touches $ 1800 many will buy in a big event. nowadays the price is fantastic, very active even though it hasn't touched the $ 6K figure. indeed it takes patience and trust in the market today.

I don't believe that bitcoin will decline at 1,850, but rather believe that bitcoin is starting to recover and will continue to increase, the crypto market is indeed volatile but for this year bitcoin will move up.