Safe to say Bitcoin "probably" won't go lower than $600-$700

[ProfessionalGoogler]

+1

^^^EDIT^^^

Total Bitcoins in circulation:   16,123,563
Total Bitcoins to ever be produced:   21,000,000
Percentage of total Bitcoins mined:   76.78%
Total Bitcoins left to mine:   4,876,438



Some kind of roulette..   (place those bets - red, green or blue for the year 2017? 2018? 2019? 2020?)

Take a look here and really think..
http://www.bitcoinblockhalf.com/


   3+ trillion - Bank of China
   1+ trillion - Wells Fargo
700+ billion - Tesla (heading towards 1 trillion! GO CLEAN ENERGY!)
600+ billion - Apple
600+ billion - Google
350+ billion - Microsoft
300+ billion - Facebook
250+ billion - Amazon
150+ billion - Coca-Cola
100+ billion - Pepsi
  60+ billion - Monsanto
  50+ billion - PayPal
  40+ billion - Uber
  30+ billion - Yahoo
  20+ billion - Netflix
  10+ billion - Bitcoin
    8+ billion - Twitter
    4+ billion - AOL
    1+ billion - Ethereum



Bitcoin isn't just global but universal - to the moon and then mars!

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[The Sceptical Chymist]

You can scream it from the hilltops, my man.  It would be no crazier than any of the other predictions around here.  But I'd disagree.   We could certainly go that low or lower.  You've seen how volatile this past month has been.   There's no good reason why we couldn't drop to 700.  Or $200 for that matter.

[pooya87]

it is safe to say we won't go any lower than $800 because it was proven in the past month that even with whales dumping and massive amount of FUD that was spread around here about China,... it couldn't last below $800 and it couldn't go below $800 after it any more.

speculation is all about these possibilities, you have to ask yourself (mostly talking to my above comment) why would price go that low to $200? what could possibly happen to cause a drop that big. there are lots of investors now that are desperate to get cheaper coins, and that is called resistance.

i'd say unless another exchange hack with a 100K+BTC happens we won't even see $700 again.

[shintosai]

it is safe to say we won't go any lower than $800 because it was proven in the past month that even with whales dumping and massive amount of FUD that was spread around here about China,... it couldn't last below $800 and it couldn't go below $800 after it any more.

speculation is all about these possibilities, you have to ask yourself (mostly talking to my above comment) why would price go that low to $200? what could possibly happen to cause a drop that big. there are lots of investors now that are desperate to get cheaper coins, and that is called resistance.

i'd say unless another exchange hack with a 100K+BTC happens we won't even see $700 again.

that's the only matter mate if another exchange got hacked that's the only possible reason in my mind, that will make a huge changes with the price, but if there's nothing or no big issue for sure we can say that 800$ can be the new barrier it will try to resist from that certain point.

[davis196]

What do you mean by "probably" with quotes?
What kind of statement is this?I can say that bitcoin "probably" won`t go higher than $1000 and i`ll be right...
"probably".
You can`t predict this.

[ArdiPrabowo]

support bitcoin price in level 700 dollar
i think is very dificult bitcoin price can down until reach under 700/600 dollar
without crash, big news, super dump ,  because much bitcoin attack hacker, i think is very imposible

[Denker]

I think it is safe to say that no one of us can guarantee any prices to happen or not to happen, whether it is up or down.
Bitcoin has often shown to behave like uncontrollable beast.
So therefore imo it is good also to expect the unexpected.

[1Referee]

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

[Seansky]

Probably bitcoin won't go lower than 600$-700$ because of the strong resistance that we have seen on prices in 700$-900$ in this past few weeks but there's still the possibility that it will go down beyond than that. Like what pooya87 and shintosai said in their post above, If another exchange with 100K+ BTC in it and also maybe less than that, price will go down we may even see 200$ again and also some other factors that might affect it's downfall.

[ethereumhunter]

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

so it is better to us to sell our bitcoin when the price is reach on top and we surely seen this before. in 2015 i remember that the price is reach $200 but from that time, we see that the price is increase until the december 2016-january 2017 that i think its the highest price. i can't imagine if the price is go below $500, maybe in that moment, i won't sell my bitcoin and hope that the price will back increase.

[BitMaxz]

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

so it is better to us to sell our bitcoin when the price is reach on top and we surely seen this before. in 2015 i remember that the price is reach $200 but from that time, we see that the price is increase until the december 2016-january 2017 that i think its the highest price. i can't imagine if the price is go below $500, maybe in that moment, i won't sell my bitcoin and hope that the price will back increase.

Thats impossible to happen. bitcoin right now is different unlike before that there are only few website and company are accepting bitcoin unlike before that many merchant right now are accepting and i think we will also use some vcc in bitcoin that we can exchange our bitcoin in paypal funds.. for now theres no possibility that the price could be hit $600 i feel that the price could be stay at $800 or if we are lucky the price will increase more and hit again above $1k..

[Red-Apple]

no it is not safe to say because it is not a right thing to say.
the bottom has gone up a lot and it is now at $850 which means even if price decided to test that bottom, we will only see that price and worse case scenario with panic because of testing bottom, the price will be $790.

[MatDerKater]

+1

I agree.

I suspect that Bitocin first will test recent $750 low, then push uptowards $1000 area, fail, and then down she goes, finding support in major traffic area between $600-$700.

[digaran]

I absolutely HATE $200 over and over coming up in conversations, I mean WTF? is it a secret or magic price? you haven't figured it out yet? bitcoin price wont drop below $700 unless and only when hash rate drops 45%, one thing you all should know that BTC will never become unprofitable to mine.
So in order for price to drop the hash rate must decrease first, how that works? simple really, if no profit earned by miners mining with cheapest electricity= no support thus miners will stop and hash rate decreases and people will pick up from where others left.

[Stedsm]

You can scream it from the hilltops, my man.  It would be no crazier than any of the other predictions around here.  But I'd disagree.   We could certainly go that low or lower.  You've seen how volatile this past month has been.   There's no good reason why we couldn't drop to 700.  Or $200 for that matter.

I agree to you in this case that the price can only remain stable unless the stronger hands go wrong and decide to end this up in garbage and $200 can be called a garbage level, even lower than current support. OP, we should never be ^confident^ in terms of price of a thing that has been considered a "stock"/"commodity" for investors, and something being defined that way should never be trusted.
Search for Penny Stocks and you will know, OP.

[pereira4]

You can scream it from the hilltops, my man.  It would be no crazier than any of the other predictions around here.  But I'd disagree.   We could certainly go that low or lower.  You've seen how volatile this past month has been.   There's no good reason why we couldn't drop to 700.  Or $200 for that matter.

There is a very single explanation as to why we will not go as low as $200... the answer is very clear: because there is a lot of people waiting to enter the market and any drop is good news for those waiting to get in.

[BOSA.io]

Most likely wont, but you never know. I say there is a 20% chance that it will go down to $400 again.

[jakelyson]

You probably are right. The price has several times tested the 800+ resistance and it always would not go down below that anymore. I think mid 800 is now our new low. Aren't we supposed to be glad that we will not see 700 and below anymore. But I guess those shorts will not stop to feed us with FUD to bring the price down.

[alyssa85]

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

This.

The problem with bitcoin is that it is such a small market in the grand scheme of things, and small markets are easy to manipulate. Then add in that the Chinese speculators like to gamble, so they pile in when the price is rising and dump in a panic when it is falling. They don't seem to practice contrarian investing, and they don't do risk management either. The idea of only investing 1/10th of your assets at a time is foreign. They like to go all in, which can pay off occasionally, but most of the time wipes you out.

[Karpeles]

For "natural reasons" don't. Even the FUD caused by the inspection of the chinese exchanges failed to hold the price down for any significant amount of time.

Only concrete bad news could drive the price lower, but there is no way to know if a country will ban Bitcoin or if and when an exchange will be hacked

[Carmen_Sandiego]

You probably are right. The price has several times tested the 800+ resistance and it always would not go down below that anymore. I think mid 800 is now our new low. Aren't we supposed to be glad that we will not see 700 and below anymore. But I guess those shorts will not stop to feed us with FUD to bring the price down.

I remember that surpassing the seven hundred dollars range, at the end of the last year, was a difficult task, and in fact this can already be seen as a great achievement, but this is probably just the beginning.
With regard to the current price, unlike what happened in the first week of this year, the price has risen more steadily in recent days, and this may be a sign that we are in a new phase of consolidation.

[crairezx20]

You probably are right. The price has several times tested the 800+ resistance and it always would not go down below that anymore. I think mid 800 is now our new low. Aren't we supposed to be glad that we will not see 700 and below anymore. But I guess those shorts will not stop to feed us with FUD to bring the price down.

I remember that surpassing the seven hundred dollars range, at the end of the last year, was a difficult task, and in fact this can already be seen as a great achievement, but this is probably just the beginning.
With regard to the current price, unlike what happened in the first week of this year, the price has risen more steadily in recent days, and this may be a sign that we are in a new phase of consolidation.

I think november that bitcoin price surpassed $700 value and i think before end of the month we experience to touch in 800 above or 900 until we hit 1k value.. you have the point we are still at the beginning when the bitcoin is rising users and i think more users will come and we are still not well known currency and i think we need more visibility in other social media and get more trust by many company so that people won't think that bitcoin is scam.. and we will see this good result in the future and like before when i was start using bitcoin i think $250 and now the price is really high in fact its 4x the price is increased. and i think it could be happen too this year..

[ProfessionalGoogler]

What do you mean by "probably" with quotes?
What kind of statement is this?I can say that bitcoin "probably" won`t go higher than $1000 and i`ll be right...
"probably".
You can`t predict this.

Nothing is predictable.. 100% 

[Noctis Connor]

Aw i need this . I need bitcoin to drop up to $600 so i can buy a few bitcoins so if bitcoin price pump again up to $1200 again well i can doubled up my bitcoin and make a good investment in my business again and i can make another branch of my business here in my country

[tokeweed]

You can scream it from the hilltops, my man.  It would be no crazier than any of the other predictions around here.  But I'd disagree.   We could certainly go that low or lower.  You've seen how volatile this past month has been.   There's no good reason why we couldn't drop to 700.  Or $200 for that matter.

There is a very single explanation as to why we will not go as low as $200... the answer is very clear: because there is a lot of people waiting to enter the market and any drop is good news for those waiting to get in.

That's all hubris.  A good example is how the Roman Empire fell because the people running it were so arrogant that they thought their beloved empire will never fall.  All it took was a movement from the poor to slowly relinquish the Romans off their power.  After a few centuries, they fell.

I'm not saying I want Bitcoin to fall nor do I want to.  All I'm saying that we're doomed once we're arrogant enough to think all this will live forever.

[Vaskiy]

We have experienced a good price increase from the bottom in a very short time. Also the price doesn't varying much on increase as well decrease. Its moving in a gradual manner, this gives the hope that bitcoin won't go below $700. I think it has a standard price which is around $750.

[maydna]

from that image, Total Bitcoins left to mine is 4,876,438 bitcoin, i don't think that bitcoin price is getting down for that price but as always, we can not predict the up and down but what we can do is make analysis and then its depend on the people in the market. but i don't want to see the price is getting lower from that price.

[AjithBtc]

Price is stable around $900 and it hasn't given a big drop or so on. So we can expect the price not to fall much lower as quoted by op.

[uki]

Nothing is guaranteed, apart from death and taxes, and it is even less guaranteed in Bitcoin. I guess a short look at the charts can prove that, even the chart in the OP.
Don't say never, but be prepared for either scenario and trade accordingly (I know it is much easier to said that, but that is my hint).

[mtwelve]

Nothing is guaranteed, apart from death and taxes, and it is even less guaranteed in Bitcoin. I guess a short look at the charts can prove that, even the chart in the OP.
Don't say never, but be prepared for either scenario and trade accordingly (I know it is much easier to said that, but that is my hint).

This. If you're able to set yourself up to win in a bull or bear market, you'll be fine in a volatile enviroment like with Bitcoin and crypto. Right now I'm trying to divest myself by a 50% fiat and 50% altcoin split atm, because I think we're about to see the price go down some. Not sure how much, but looks like it's going to be at least a couple percentage points.

[uki]

Nothing is guaranteed, apart from death and taxes, and it is even less guaranteed in Bitcoin. I guess a short look at the charts can prove that, even the chart in the OP.
Don't say never, but be prepared for either scenario and trade accordingly (I know it is much easier to said that, but that is my hint).

This. If you're able to set yourself up to win in a bull or bear market, you'll be fine in a volatile enviroment like with Bitcoin and crypto. Right now I'm trying to divest myself by a 50% fiat and 50% altcoin split atm, because I think we're about to see the price go down some. Not sure how much, but looks like it's going to be at least a couple percentage points.

I am also prepared for a dip to buy more, so maybe we are both biased by that. 
Anyway, a good and healthy correction would bring some fresh air to the charts.

[arbitrage001]

All bubbles eventually go bust.

[uki]

All bubbles eventually go bust.

Sure, but there are plenty in here who still hope that the $900 level is just a brief stop before resuming further rise. No matter what.

[molsewid]

i think its now safe to say that bitcoin wont go lower than $600-700. its been though this days and its still increasing because of the bigwhales are currently investing still on them  thats why the bitcoin wont go drop again becayse of investors but theres still new registered user here whos investing bitcoin thats the reason why its pumping also.

[uki]

i think its now safe to say that bitcoin wont go lower than $600-700. its been though this days and its still increasing because of the bigwhales are currently investing still on them  thats why the bitcoin wont go drop again becayse of investors but theres still new registered user here whos investing bitcoin thats the reason why its pumping also.

what is your time perspective?
if we talk about not dropping below $600-700 before February 2017, then I agree.
Further onwards, I am not that convinced any more.

[nizamcc]

i think its now safe to say that bitcoin wont go lower than $600-700. its been though this days and its still increasing because of the bigwhales are currently investing still on them  thats why the bitcoin wont go drop again becayse of investors but theres still new registered user here whos investing bitcoin thats the reason why its pumping also.

what is your time perspective?
if we talk about not dropping below $600-700 before February 2017, then I agree.
Further onwards, I am not that convinced any more.

I see this year to be continuing with a stability of $500-700 range because as mining rewards have halved, we should expect the price to remain at least the minimum double of what it used to be when the mining rewards were high. @molsewid, pumps have nothing to do with the current price or future price, they are just done to get a hold on your coins for more cheaper prices when you go strike your head after prices start falling and sell at the lowest.

[maku]

Guys, price of bitcoin should be more stable now. Chinese exchanges limited their leverage trading option which was known for being main reason behind current bitcoin's price volatility.
Margin traders were dragging price down as they usually tend to panic and sell to limit their loses. We may enter era of small steps and continuous rise.

[hase0278]

Guys, price of bitcoin should be more stable now. Chinese exchanges limited their leverage trading option which was known for being main reason behind current bitcoin's price volatility.
Margin traders were dragging price down as they usually tend to panic and sell to limit their loses. We may enter era of small steps and continuous rise.

I agree with you, there's still the possibility that it might go lower than 600$ or 700$ but there is the chance it wont ever even go beyond that point since like what the guy in the quote said, Chinese exchanges limited their leverage trading option therefore the force that the Chinese people have in terms of dumping is lessened so we might not see another 300$ or 200$ again.

[ProfessionalGoogler]

I think the blue line is looking most promising...

Next: TO THE MOON! 

[Doms]

Nothing is guaranteed, apart from death and taxes, and it is even less guaranteed in Bitcoin. I guess a short look at the charts can prove that, even the chart in the OP.
Don't say never, but be prepared for either scenario and trade accordingly (I know it is much easier to said that, but that is my hint).

This. If you're able to set yourself up to win in a bull or bear market, you'll be fine in a volatile enviroment like with Bitcoin and crypto. Right now I'm trying to divest myself by a 50% fiat and 50% altcoin split atm, because I think we're about to see the price go down some. Not sure how much, but looks like it's going to be at least a couple percentage points.

I am also prepared for a dip to buy more, so maybe we are both biased by that. 
Anyway, a good and healthy correction would bring some fresh air to the charts.

Corrections are always a welcome sight to those patient enough for it to happen, and it is bound to happen at some point, when those who think $1000 is already a good price to sell do start taking profits. I wouldn’t mind if the price corrects to as low as $800 or even lower, and just stay there for a while. I miss the days when I was thinking that $750 was too steep a price.

[Zadicar]

Very nice presentation and thank you for that one op.For me i could say it would be already hard to go back again on $600 below price since bitcoin does already have a strong support and it would be hardly to breakout unless if all huge exchanges would be hacked then it might happen but for now it wont go back on that price.

[ProfessionalGoogler]

Very nice presentation and thank you for that one op.For me i could say it would be already hard to go back again on $600 below price since bitcoin does already have a strong support and it would be hardly to breakout unless if all huge exchanges would be hacked then it might happen but for now it wont go back on that price.

I think if you really look back and consider how much damage Mt Gox caused and how this was not Bitcoin's fault we "probably" will see BTC at $10,000 within 2-3 years.

But random events like Mt Gox could always happen again of course.

[pooya87]

Very nice presentation and thank you for that one op.For me i could say it would be already hard to go back again on $600 below price since bitcoin does already have a strong support and it would be hardly to breakout unless if all huge exchanges would be hacked then it might happen but for now it wont go back on that price.

I think if you really look back and consider how much damage Mt Gox caused and how this was not Bitcoin's fault we "probably" will see BTC at $10,000 within 2-3 years.

But random events like Mt Gox could always happen again of course.

MtGox or no Mtgox we wouldn't have been able to see $10,000. that is just unrealistic in short term, even in long term.
MtGox made some damage to bitcoin but in order to see higher prices we still need adoption and it has been 2-3 years of consistent rise and mtGox is over for a long time now, but we haven't seen any bigger rise than 100% a year. because adoption rate is still slow and it doesn't seem to be changing.

[ProfessionalGoogler]

Very nice presentation and thank you for that one op.For me i could say it would be already hard to go back again on $600 below price since bitcoin does already have a strong support and it would be hardly to breakout unless if all huge exchanges would be hacked then it might happen but for now it wont go back on that price.

I think if you really look back and consider how much damage Mt Gox caused and how this was not Bitcoin's fault we "probably" will see BTC at $10,000 within 2-3 years.

But random events like Mt Gox could always happen again of course.

MtGox or no Mtgox we wouldn't have been able to see $10,000. that is just unrealistic in short term, even in long term.
MtGox made some damage to bitcoin but in order to see higher prices we still need adoption and it has been 2-3 years of consistent rise and mtGox is over for a long time now, but we haven't seen any bigger rise than 100% a year. because adoption rate is still slow and it doesn't seem to be changing.

Nah.

[mtwelve]

Lol 100% a year would reach $10,000 in like approximately four years, so not far off. It would defientlry be possible if Bitcoin returned 100% yearly for a couple years. That is unlikely, but who knows? Bitcoin is crazy lol