Bear Over There! Analyst Forecasts Perfect Bitcoin Buy Floor at $3000

[gokayc]

As Bitcoin dips below $4000 after JPMorgan CEO Jamie Dimon’s criticism, analysts are forecasting a return to as low as $3000.

In daily and weekly chart comments Wednesday, Tone Vays led the way predicting a bear market, calling $3000 the “perfect buy.”

“I have strong support at $3,000 so don't see it going lower,” he added in several commentaries on Twitter.

https://twitter.com/ToneVays/status/907901596767604736?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbear-over-there-analyst-forecasts-perfect-bitcoin-buy-floor-at-3000

Prices across cryptocurrency markets continue to react to a ‘double whammy’ of Chinese exchange ban speculation and an extant ban on ICOs, which Dimon served to compound.

Bitcoin had reached almost $5000 prior to the China upheavals. As of press time, the price per coin was hovering around $3800 on Bitstamp according to data from Bitcointicker.

Dimon has received broad discredit for his comments at a New York conference in which he compared Bitcoin to “fraud” and that it would sooner or later collapse.

Its only use, he said, was for “North Korea, Venezuela and drug dealers” and even in this scenario this use case was “limited.”

In altcoin markets, NEO, which had reacted especially severely to news from China, lost another 17 percent in the 24 hours at press time to cap 50 percent losses in a week.

Sept. 6 saw Bitfinex add the asset to its exchange, helping boost prices up to $35 before new steep declines.

https://cointelegraph.com/news/bear-over-there-analyst-forecasts-perfect-bitcoin-buy-floor-at-3000

[TagaMungkahi]

Does the article suggests that we should wait until the Bitcoin price touched the $3000 price before buying?. If so , then i shall wait for it because right now the price trend is going down, but i am not panicking.

[deejhay]

Instead of panicking over bitcoin price, its better to turn this into oppurtunity where we can buy bitcoin at low price. Bitcoin may be facing challeges now but soon, its value will rise so lets take this chance to add fortune instead of panicking.

[Sithara007]

Instead of panicking over bitcoin price, its better to turn this into oppurtunity where we can buy bitcoin at low price. Bitcoin may be facing challeges now but soon, its value will rise so lets take this chance to add fortune instead of panicking.

If you are thinking about purchasing Bitcoin (or any other crypto-currency), then it will be a good idea to wait for a few days. The prices can decline even further, according to some of the market researchers. It will be better to purchase the coins when the prices start rising, rather than buying them when the downward trend is present.

[AlienSeeker]

Does the article suggests that we should wait until the Bitcoin price touched the $3000 price before buying?. If so , then i shall wait for it because right now the price trend is going down, but i am not panicking.

Yes, it somewhat suggests to buy when the price falls down to $3000, because sooner or later when bitcoiners are buying bitcoins at that price, its' price will start to rise up again.

[pinkflower]

$3000 is too low. If it reaches that price in a short time frame, the momentum would be too great and it may take BTC below it. The dump is really not that strong and the traders know for a fact that BTC's bullishness isnt over yet. This is a mere correction to maybe $3500 at most.

[Sled]

I also think that $3,000 is the perfect price to buy some bitcoins but i am not still comfortable with that price so i put some extra money for my next target price and that is ranging below $2,500 and i will put all of my extra money if bitcoin will reach to that price and i will just hold them for a few months and expect huge returns.

[peter0425]

Instead of panicking over bitcoin price, its better to turn this into oppurtunity where we can buy bitcoin at low price. Bitcoin may be facing challeges now but soon, its value will rise so lets take this chance to add fortune instead of panicking.

If you are thinking about purchasing Bitcoin (or any other crypto-currency), then it will be a good idea to wait for a few days. The prices can decline even further, according to some of the market researchers. It will be better to purchase the coins when the prices start rising, rather than buying them when the downward trend is present.

There is no perfect buying opportunity. And I don't agree that it will floor to $3000 either. Today is the perfect time to buy because there are a lot of resistance at the current price and I seriously doubt it can go lower than $3500. The best strategy is just buy in small portions and observe where the trend is going. If you look at prior to bitcoin split in Aug, the perfect buying price is $1900 then it quickly went up to $2900 the next time. If you will wait till the price goes further south, there are possibility that it will recover in the following day.

[adam1230]

3000 is too low. Its currently Fibonacci level of 38.2 support level.
I think its tanking to jump over 5000$ in near term.

[avikz]

Jemie, the CEO of JPM Chase belongs to the organized financial powerhouse. He will continue criticizing bitcoin even more. However, I am wondering why people are panicking? They must know that bitcoin has become a threat to the organized financial institutions and they will try to show us down to survive this challenge. We should have taken it much more lightly. It's sad that crypto people are taking it vary seriously.

However, the other side of the story is we now have a golden opportunity to buy bitcoin at $3800 level, which may not come again. I don't see that bitcoin is going below $3700 in any way because we have now survived the first attack of negativity. IT won't get down further. Don't wait for bitcoin to come down to $3000 level, because that's not going to happen. If you want to invest, it is the best time.

[Yuhee]

3000 is too low. Its currently Fibonacci level of 38.2 support level.
I think its tanking to jump over 5000$ in near term.

So for many crypto veterans, this is not a new big news. Many times the price went down but after 2 weeks maybe, it sored backup high again. I too am expecting a price increase but not really an instant jump that it could go to 5k in just a day. i guess its would be ok if the price floor would be over 3500$ cause i was expecting 4000$ as the floor price but it went way to down.

[classicsucks]

In daily and weekly chart comments Wednesday, Tone Vays led the way

I stopped reading right there. You do know that Tone Vays is one of the most vocal idiots on the Bitcoin scene? This is the guy who said Bitcoin Cash would quickly go to "not even a dollar each" after the fork.

https://www.youtube.com/watch?v=edav-9pvpNs

[joseafonso123az]

This is why bitcoin holders or investors shouldn't be afraid of how bitcoin increases and decreases it's value. These devaluation are always an opportunity for buyers to increase their stash of bitcoin. These devaluation could continue till November, so it's better to earn some at this time, because I believe that the price will surely rise again

[ObscurePen]

Bad news for sellers. Good news for buyers. The problem is, I am a bit of both. I’m buying Bitcoin. But the rest of the Bitcoin that I have is stuffed. I lost quite a bit money already. I kinda wish that the price drops to $USD3000 so that I can stockpile and buy a crap tonne of Bitcoin. But then I would lose a few thousand more dollars. I don’t know if I should wait until the price returns to 5000 USD or prevent further loss and sell now. I am really confused with what I should do. If anyone has any ideas, I will be open for suggestion. The other thing is that Bitcoin’s price has fallen the most so far. It is has plummeted. Will this be the end of a decade long period of success or will it revive? I most definitely hope that it revives.

EDIT: I just checked the price, only 300$USD more to go before we hit $3000. This is a massive correction.

[Kakmakr]

Bad news for sellers. Good news for buyers. The problem is, I am a bit of both. I’m buying Bitcoin. But the rest of the Bitcoin that I have is stuffed. I lost quite a bit money already. I kinda wish that the price drops to $USD3000 so that I can stockpile and buy a crap tonne of Bitcoin. But then I would lose a few thousand more dollars. I don’t know if I should wait until the price returns to 5000 USD or prevent further loss and sell now. I am really confused with what I should do. If anyone has any ideas, I will be open for suggestion. The other thing is that Bitcoin’s price has fallen the most so far. It is has plummeted. Will this be the end of a decade long period of success or will it revive? I most definitely hope that it revives.

EDIT: I just checked the price, only 300$USD more to go before we hit $3000. This is a massive correction.

This is not a correction, but rather a mini-dump, fuelled by panic. The psychological buy point might be $3000 for most people, but it will cause a feeding frenzy when this happens and the price will quickly increase in value, so most people will only be able to buy at a much higher price, when this happens.

To avoid the feeding frenzy, I would jump back in before $3000 and still be able to grab a few bitcoins at a bargain price.

[pbody]

panics help with corrections. whats really happening is bitcoin is fixing its gap which it ALWAYS does, or at least up until this point of its existence.

[darewaller]

As Bitcoin dips below $4000 after JPMorgan CEO Jamie Dimon’s criticism, analysts are forecasting a return to as low as $3000.

In daily and weekly chart comments Wednesday, Tone Vays led the way predicting a bear market, calling $3000 the “perfect buy.”

“I have strong support at $3,000 so don't see it going lower,” he added in several commentaries on Twitter.

https://twitter.com/ToneVays/status/907901596767604736?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fbear-over-there-analyst-forecasts-perfect-bitcoin-buy-floor-at-3000

Prices across cryptocurrency markets continue to react to a ‘double whammy’ of Chinese exchange ban speculation and an extant ban on ICOs, which Dimon served to compound.

Bitcoin had reached almost $5000 prior to the China upheavals. As of press time, the price per coin was hovering around $3800 on Bitstamp according to data from Bitcointicker.

Dimon has received broad discredit for his comments at a New York conference in which he compared Bitcoin to “fraud” and that it would sooner or later collapse.

Its only use, he said, was for “North Korea, Venezuela and drug dealers” and even in this scenario this use case was “limited.”

In altcoin markets, NEO, which had reacted especially severely to news from China, lost another 17 percent in the 24 hours at press time to cap 50 percent losses in a week.

Sept. 6 saw Bitfinex add the asset to its exchange, helping boost prices up to $35 before new steep declines.

https://cointelegraph.com/news/bear-over-there-analyst-forecasts-perfect-bitcoin-buy-floor-at-3000

Eehm…I won’t actually support that, because November is near. I’m afraid of another split, so no buying for now. I will wait till after the split on November, then I can buy at lowest price level and sell when price gets high again.Monitoring….

[redsun114]

Instead of panicking over bitcoin price, its better to turn this into oppurtunity where we can buy bitcoin at low price. Bitcoin may be facing challeges now but soon, its value will rise so lets take this chance to add fortune instead of panicking.

You have very rightly said and I think we all must agree and act upon what all you have said. I think this downfall in the market price of Bitcoin is no less than a golden opportunity for all of us to invest more in Bitcoins. I think we all must avail this chance as we may not be having it after sometime.