Will Bitcoin Go Below 6000 USD? Prop Bet

[posi]

Nice to hear that people have started betting for this and I think it is possible and it might go down to $5000 in days to come.  The current situation in the market is not too good for investment as bitcoin has been loosing $2,000 to $4,000 every month since January 2018. I don't think bitcoin will grow the same way it do last year.

You're wrong mate. Besides,you always get the wrong result in terms of market prediction if just follow the price movement with the exclusion of the fundamental reason behind the cause of price dump and pump movement. The price will never go below $6000 not to mention $5000.

[tokeweed]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

Edit:  Prop bet added.

Anybody wanna put their money where their mouth is?  Since it's near the what I think is the 6000 USD floor, would anybody here wanna bet against me 8 to 1?

I say BTC won't go below 6000 USD for your 80 bucks vs my 10 bucks (I could go up to 50 for your 400).

Terms would be:  

If BTC goes below 6000 USD, it should stay there for at least two weeks to be considered actually 'below 6000'.

If BTC goes below 6000 USD for a week (for example) then goes back up and then back down again, the counter for the 'below 6000 two week time frame' goes back to zero.

We use Bitfinex's BTC/USD price.

Bet is only open while BTC is above 6500 USD.

Bets would only be open to very trusted members and gamblers in hilariousandco's FIFA and EPL betting pool.

Anybody?

You did not mention WHEN is the end of this bet.

Thanks for pointing that out.  I added two more rules in response to that.  Check the one with asterisks.

I'm also planning on extending the bet's availability and changing the odds to make it fairer for both parties.

[eth9888]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

Edit:  Prop bet added.

Anybody wanna put their money where their mouth is?  Since it's near the what I think is the 6000 USD floor, would anybody here wanna bet against me 8 to 1?

I say BTC won't go below 6000 USD for your 80 bucks vs my 10 bucks (I could go up to 50 for your 400).

Terms would be:  

If BTC goes below 6000 USD, it should stay there for at least two weeks to be considered actually 'below 6000'.

If BTC goes below 6000 USD for a week (for example) then goes back up and then back down again, the counter for the 'below 6000 two week time frame' goes back to zero.

We use Bitfinex's BTC/USD price.

Bet is only open while BTC is above 6500 USD.

Bets would only be open to very trusted members and gamblers in hilariousandco's FIFA and EPL betting pool.

Anybody?

You did not mention WHEN is the end of this bet.

Thanks for pointing that out.  I added two more rules in response to that.

unfortunately I'm not in FIFA and EPL betting pool.
more than happy to go as high as USD 100 vs 800

[mike4001]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

I’m going to HODL my coins until at least 6-12 months after the halving in 2020 so the proce faloijg atm shouldn’t bother me as my get out point is still a good while away......but it does bother me.

I hate seeing the price fall & I think it’s manipulated to fuck, whales shorting & fucking up the market. I even think Wall St & governments are doing it too.

So to answer the OP, unfortunately yes, I think the price could go sub 6k.

We’ll reach a new ATH before or a year or so after the halving any way though, bitcoin ALWAYS recovers.

This is basically also my plan.

My only concern is that if we fall to much then even a doubling or tripling around the next halving won't bring us to 20k again.

So I really hope we get the the 10k before then.

[Palmerson]

Nice to hear that people have started betting for this and I think it is possible and it might go down to $5000 in days to come.  The current situation in the market is not too good for investment as bitcoin has been loosing $2,000 to $4,000 every month since January 2018. I don't think bitcoin will grow the same way it do last year.

You're wrong mate. Besides,you always get the wrong result in terms of market prediction if just follow the price movement with the exclusion of the fundamental reason behind the cause of price dump and pump movement. The price will never go below $6000 not to mention $5000.

What is stopping bitcoin now to grow? You see reasons? I can't see. This means that we are seeing an artificial decline in prices. After the whales buy a certain amount of coins, they can easily raise prices up. You doubt that? Earn can only those who will the most patient. The rest of us will lose our savings.

[Supercrypt]

I would say below $6k is a bit uncertain but there is actually a huge chance and possibility to see it happen. Firstly we just broke out from a wedge formation which was believed to lead us lower and we broke the support formed by the lower trend line of that wedge around $6800, so that makes it a possibility to lead us down towards $6400 (a low formed on the 1st of April) or around $6000 formed round 6th of February). Now, a break below this last support would obviously lead us way lower which could be a rapid one.

However, the volume on breakout is a bit low, as I was expecting a whole lot more after breaking that wedge, so this makes me to wonder if the possibility of all that I have said in the first paragraph could actually come into play or we should see a good bounce back up with the possibility of a double bottom forming, but I guess we will live that for time and trend to decide.

Nice one and what is nicer is the last sentence when you mentioned time and trend will tell and that is a basic fact, most especially with bitcoin which has been so unpredictable lately. One time, you see the TA showing possibility of growth, the next time you see low volume and then a quick reversal either up or down and so far, I am just trying to see how things are basically just going to end up eventually as nothing is so guaranteed at all right now.

The truth is no one of sure of anything at this point in time, as everything just keep beating one's imagination and assumption at the end of it all. There is a no chance we could see lower than $6000 since the market can decide to behave in any way it seems which is my reason and these days even the fundamental sentiment in the market just seems not to be corresponding to what is even happening in the market as a whole.

[Maddinson100]

no, before the bitcoin price reaches the $ 6k price the market is back green. that's a sign of bitcoin prices have started to rise again. I'm glad the bitcoin prices do not drop below $ 6k

Yeah red and green, profit and loss, ups and downs now builtin with bitcoin market. I think now it is the time for growth again and hope that it will cross $10000 till the end of this year. 2018 on the whole is not good for bitcoin so far. Almost half of year has gone and the price is still below $7000. It is good chance for new investors and when they invest in it the price will grow due to huge investments.

[hatsoff2btc]

Anybody wanna put their money where their mouth is?  Since it's near the what I think is the 6000 USD floor, would anybody here wanna bet against me 8 to 1?

I say BTC won't go below 6000 USD for your 80 bucks vs my 10 bucks (I could go up to 50 for your 400).

Terms would be:  

If BTC goes below 6000 USD, it should stay there for at least two weeks to be considered actually 'below 6000'.

If BTC goes below 6000 USD for a week (for example) then goes back up and then back down again, the counter for the 'below 6000 two week time frame' goes back to zero.

We use Bitfinex's BTC/USD price.

Bet is only open while BTC is above 6500 USD.

Bets would only be open to very trusted members and gamblers in hilariousandco's FIFA and EPL betting pool.

Anybody?

You should join gambling site. This forum is not for gamblers. We want to discuss the serious issue relating to bitcoin price and other Altcoin future. Betting in this forum reveals that you are regular gambler and want to gamble anywhere with anybody. Anyhow I think that bitcoin will not go below $6000 because it is the lowest price for bitcoin this year.

[Ararbermas]

No mate bitcoin will not go down below as long there are some holders that keep believing bitcoin growth rate will bounce back again after this bear trend,  and also keep buying at dip and assuming to obtain profits in the future.  So probably there's no chance, unless if all holders sell off to test new bottom price such big players in the market.

[alex M]

Nice to hear that people have started betting for this and I think it is possible and it might go down to $5000 in days to come.  The current situation in the market is not too good for investment as bitcoin has been loosing $2,000 to $4,000 every month since January 20i18. I don't think bitcoin will grow the same way it do last year.

You're wrong mate. Besides,you always get the wrong result in terms of market prediction if just follow the price movement with the exclusion of the fundamental reason behind the cause of price dump and pump movement. The price will never go below $6000 not to mention $5000.

What is stopping bitcoin now to grow? You see reasons? I can't see. This means that we are seeing an artificial decline in prices. After the whales buy a certain amount of coins, they can easily raise prices up. You doubt that? Earn can only those who will the most patient. The rest of us will lose our savings.

It depends on how you evaluate the situation. As we all know that bitcoin is always volatile and the market price is unpredictable. We dont know when it will go downtrend or uptrend. Basically, prices in the market are dependent on the demands and supply. For me, the bitcoin price will not go below 6KUSD because I know there are still more users and investors buying bitcoin nowadays.

[laravuemaster]

No mate bitcoin will not go down below as long there are some holders that keep believing bitcoin growth rate will bounce back again after this bear trend,  and also keep buying at dip and assuming to obtain profits in the future.  So probably there's no chance, unless if all holders sell off to test new bottom price such big players in the market.

The prices in the market today is green and it might be the sign that prices are starting to bounce back and increase further more till it reach december, buying a huge amount today is the best choice you can make while the market price is still low and earn profit when the market goes back to normal.