How low will BTC crash in following days/weeks?

[howard.ashoul]

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

[pooya87]

it will crash to $5200

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

you also used to compare the "situation" with 2014 back when price reached $1250 and was rising...

[JimboToronto]

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

Those graphs are meaningless.

Bitcoin isn't some stock to be predicted by "technical" analysis or other pseudoscience. The steep rise since August 1 is due to the resolution of the scaling crisis and renewed confidence.

It also didn't go from $5000 to $4800. It had a small correction from $4979 to $4824 after rising by more than $300 in a single day and over $800 in 4 days (Bitstamp).

There is no reason for the price to crash. If anything, this correction proves that it is not in a bubble and it's reasonable to expect it to continue rising in price.
_______

I think it's time to bring back newbie jail. The influx of noob trolls is getting ridiculous.

[howard.ashoul]

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

Those graphs are meaningless.

Bitcoin isn't some stock to be predicted by "technical" analysis or other pseudoscience. The steep rise since August 1 is due to the resolution of the scaling crisis and renewed confidence.

It also didn't go from $5000 to $4800. It had a small correction from $4979 to $4824 after rising by more than $300 in a single day and over $800 in 4 days (Bitstamp).

There is no reason for the price to crash. If anything, this correction proves that it is not in a bubble and it's reasonable to expect it to continue rising in price.
_______

I think it's time to bring back newbie jail. The influx of noob trolls is getting ridiculous.

When I went to sleep, BTC was $5000.
When I woke up, BTC was $4850.
Right now it's at $4790.

Data from CoinMarketCap.

[RoommateAgreement]

When I went to sleep, BTC was $5000.
When I woke up, BTC was $4850.
Right now it's at $4790.

Data from CoinMarketCap.

coinmarketcap is an average price between a lot of different pairs, some of them even much higher and some much lower than real price. it even has altcoins among them for a bitcoin price!!
https://coinmarketcap.com/currencies/bitcoin/#markets
for example it has LTC/BTC and is reporting the $6440 for it
and it has BTM/BTC and is reporting $776 for it. what you see is the average of all these!!!

even if that is your source, the numbers you are quoting is just a 4% correction!

[AlexaSonda]

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

Those graphs are meaningless.

Bitcoin isn't some stock to be predicted by "technical" analysis or other pseudoscience. The steep rise since August 1 is due to the resolution of the scaling crisis and renewed confidence.

It also didn't go from $5000 to $4800. It had a small correction from $4979 to $4824 after rising by more than $300 in a single day and over $800 in 4 days (Bitstamp).

There is no reason for the price to crash. If anything, this correction proves that it is not in a bubble and it's reasonable to expect it to continue rising in price.
_______

I think it's time to bring back newbie jail. The influx of noob trolls is getting ridiculous.

I agree with your thoughts that there is no reason whatsoever for the bitcoin to fall back on. Even if its falling price will not be so big $300 to $500 only and I'm sure bitcoin will soon go to the moon and in a few weeks it will be $5000 or more.

[howard.ashoul]

$4699....   

[JimboToronto]

$4699....   

A far cry from $3800 or $2600. Just a tiny correction.

[Kyraishi]

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

Not sure, i think that currently we are already experiencing the first of the dumps.

It really depends on whether bitcoin is able to recover from the current dump, or not. If it can recover then i would say we'll actually go above $5k and stay there. But if not then I think we'll be headed to at least $4k or even more by the end of next week.

I think the low for today will be around $4500, before bouncing back up. Again it depends on whether it can break $5k, or whether further corrections come. If the latter then we are heading to sub $4k.

[Yuuto]

Given these graphs, how low do you think, that BTC will crash? To $3800? Could it go all the way to the $2600?

It already went from $5000 to $4800... .

https://i.imgur.com/YkUPlPT.jpg (ridiculous grow)

https://i.imgur.com/wheksKv.jpg (predictable waves)

https://i.imgur.com/JYUgj5s.jpg (compared to situation in 2014)

https://i.imgur.com/zReoHDJ.jpg (...)

https://i.imgur.com/yuLKbci.jpg (possible predictions)

Personally i think it is a pretty accurate analysis, however i think that we will see even more growth soon. Just because people are just going crazy right now and not caring about logical thinking. In the short term, aka next week we could see something like $5200, $5300, but after that there will be a huge dump.

I wouldn't say that it will go down to $2500 but i think at least $3500 or lower.

Whenever there is hype and bubbles, there will always be a dump. It's just that we can't predict how low and when it's going to happen.

[HeRetiK]

It already went from $5000 to $4800... .

Oh the humanity!

Short term I guess BTC will be trapped between USD 5k and USD 4.5k. Should we experience a larger drop I don't expect it to go below USD 4k.

Long term, should BTC turn into a mania that causes it to crash down heavily or fall into a prolonged bear market, I'd say the bottom could be USD 2.8k, but short of a catastrophic event I don't see BTC dropping much further than that.

[howard.ashoul]

Well guys, is it still a correction? 

[JimboToronto]

Well guys, is it still a correction? 

yep

[romero121]

It already went from $5000 to $4800... .

Oh the humanity!

Short term I guess BTC will be trapped between USD 5k and USD 4.5k. Should we experience a larger drop I don't expect it to go below USD 4k.

Long term, should BTC turn into a mania that causes it to crash down heavily or fall into a prolonged bear market, I'd say the bottom could be USD 2.8k, but short of a catastrophic event I don't see BTC dropping much further than that.

As mentioned the price is fluctuating within certain limits and today it went near to $5000. The price have been gaining resistance for a perfect growth with corrections taking place at certain time interval. Based on these facts I believe that the price won't go low to $4000 in the short.

[uk1]

2200

[howard.ashoul]

Still a correction? 

[alyssa85]

Well guys, is it still a correction? 

Yes - it's only a 5% move. Ir's not a crash until it's a 15% move down.

[kwukduck]

A healthy correction would end around 1000-1500 USD.

But it is extremely unlikely the panic will stop there with the November hardfork around the corner.
With over 90% miner support Core coin is likely to stop functioning alltogether, effectively dropping the price to exactly zero at the moment of the hardfork. Of course the new Bitcoin will also gain instant value but i doubt it will be anywhere near the Core coin value, maybe a 200-600 USD level like BCH is realistic.
Overall it's safe to conclude that the upcoming months will result in a ~90% value loss in regards to Core coin / SW2x.
I suspect altcoins will do the same, maybe some value will move to altcoins, resulting in less loss, but i think the vast vast majority will be dumped for fiat.

As for the people crying about losing their money the past day...
I hate to say I told you so...

[n0ne]

I don't think that the price will crash over the days/weeks to come. This is all because of the the growth happening based on the natural growth happening with the bitcoin. By the falling weeks the price correction might happen causing the price to go above $5000 and sustain for a long time gaining resistance.

[BitHodler]

Ir's not a crash until it's a 15% move down.

Even if the price turns out to decrease with 15% from current levels it can't really be seen as a crash. In my book, a crash would be when we see the price decrease with a minimum of 25% in value.

We simply shouldn't discard the fact that even though the sentiment is hovering at record highs, the market was severely overbought, and for that reason people were expecting a correction to happen.

From here we'll find out how strong the support for the $4000 mark is in the coming days. It will be a great moment to buy back for those cashed out profits, or a great moment to enter the ship for the waiters.