Will Bitcoin Correct to $6,500?

[olumyd]

$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.

The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.

May not be an immediate dump. We're talking 6-7 months from now. And it appears the chart may begin to look something in that direction already. Best case, the dump may stretch out till the end of the year.

[kazakova]

I think it wouldn't go down that much, Already a correction has been begun but current strong support level is 9100$ so in my perspective it may break 9500 level and after breaking 9500  bull will play action again. Always do your own research I only shared my perspective.

[7788bitcoin]

I guess I need to correct you here. If there is bad/negative news than bullish bearish trend would continue. The markets would not completely depend on the news as there already are thousands of news platforms which are actively sharing negative as well as positive news so the media has itself balanced itself.

I really do not think that the bitcoin market moves according to the media trends, there was a time when the market moved like that but not anymore in my opinion but if there is a huge movement of coins then they market usually goes down fearing someone is planning to dump the coins.
The market will have a slight correction every time we reach the resistance point but not expecting a huge dump to $6500 at once, even if it happens it will be a gradual move.
 

[Farma]

$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.

The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.

May not be an immediate dump. We're talking 6-7 months from now. And it appears the chart may begin to look something in that direction already. Best case, the dump may stretch out till the end of the year.

relax, if this year the price of bitcoin really touched the price of $ 6000, then this might be the end of bitcoin. at the moment, it can be said is the year for bitcoin. Halving usually makes a good effect on prices, but when bitcoin prices decline when halving, I think this is really bad. but the possibility is small, I quite believe that the price of bitcoin is very high at high.

[bhabygrim]

I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?

[olumyd]

I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?

Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.

[coinfinger]

I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?

Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.

But, we need to consider few supporting factors which are going to happen around crypto space like upcoming bitcoin halving. The current pull back must be due to profit booking by some whales and definitely not be a signal for history is going to repeat itself.

I agree if the bitcoin prices will be failing to test $11k to $12k levels then definitely it will come back but it is too early to expect it to test those regions. I mean to say we must give some more time for market to accommodate and then to continue its rally. I believe those levels like $6500 may not be seen forever within bitcoin markets. Yes, those price levels must have gone forever and we are going to test new ATH in coming months.

[Wysi]

Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.

[Arkann]

Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.

Undoubtedly, the situation in the cryptocurrency market can dramatically change in a short time due to certain news in the information space or due to the actions of speculators or other players in the cryptocurrency market.  We have witnessed a decline in prices for the highest rated cryptocurrencies much lower than $ 6,500, just like when Bitcoin prices rose to $ 20,000.  But I can’t understand, How do certain cryptocurrency users confirm a price reduction to $ 6,500 in the near future?  There are no prerequisites for this and there are no exact facts that would confirm such changes.

[Pamadar]

Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.

Undoubtedly, the situation in the cryptocurrency market can dramatically change in a short time due to certain news in the information space or due to the actions of speculators or other players in the cryptocurrency market.  We have witnessed a decline in prices for the highest rated cryptocurrencies much lower than $ 6,500, just like when Bitcoin prices rose to $ 20,000.  But I can’t understand, How do certain cryptocurrency users confirm a price reduction to $ 6,500 in the near future?  There are no prerequisites for this and there are no exact facts that would confirm such changes.

Everybody's opinion and its been like this for a while, there are lots of speculations and because of that it's also creating fuds making weak holders
to panic and start to react in the wrong way. better to take your own path and start trying to figure it out with your own analysis, the idea of keep
holding and try to buy more once the value fell that hard while keeping those coins then wait for another bounce will work and bring better benefits.

[Divinespark]

And now, don't we see BTC going down to $ 6500 as you predicted? And how did you deal with this situation? Keep waiting, have decided to invest with it? Your predictions are baseless, without any information or analysis to convince people here of your predictions.