Bitcoin below $3000: "Good buy" or "Goodbye"?

[AK47-]

So out of 30 votes, there are 10% who don't even understand the investment they are in. Why people fail to understand the potential of cryptocurrencies and what market they are disrupting. If these small rounds of negative news are enough to panic them, then they better say goodbye. Cryptocurrencies are targeting a billion market of internet users. Potential is way too high. Price will definitely increase in long term. We should understand that we are lucky enough to get Bitcoin at still an affordable price.

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[n0ne]

The price went low to $3000 in unexpected time and once again this has started to  increase and reach a value above $3500. This time the price might grow and reach the long expected $5000 mark. Irrespective of the issues growth is something assured with bitcoin, so it can be considered as an buying opportunity.

[uraharasan]

The price went low to $3000 in unexpected time and once again this has started to  increase and reach a value above $3500. This time the price might grow and reach the long expected $5000 mark. Irrespective of the issues growth is something assured with bitcoin, so it can be considered as an buying opportunity.

What you're talking about is still an opinion not a fact, on what basis do you believe that bitcoin will reach $ 5k. We should analyze the possibilities and the latest news about bitcoin or crypto currency before arguing about the price.

[eann014]

It's not goodbye, this is the right time to buy bitcoin, we all know that bitcoin has a potential already to reach until $4300, and more. So this is the right time to buy and hold bitcoin to gain more income in the future. $3000 still a good amount and we can't deny that bitcoin already prove a lot right now.

[allycn]

It is definitely not cheap, but it is better priced for buying than a few weeks ago (I don't feel great as I am one of the people that purchased a tiny amount when it was way past 4K, but I needed it to invest on an ICO - which I ended up not doing - so now I am just hoping for it to continue to rise). I might be tempted to buy a bit more right now as a long term investment, and not for ICO investments (I think I will stick to ETH or LTC, when accepted, because since the price isn't THAT high, it doesn't feel that terrible when the price decreases).

For those of you with more Bitcoin or exchange experience, does crypto currency tend to increase or decrease during the weekends or are the price fluctuations too unpredictable?

[Pursuer]

So out of 30 votes, there are 10% who don't even understand the investment they are in. Why people fail to understand the potential of cryptocurrencies and what market they are disrupting. If these small rounds of negative news are enough to panic them, then they better say goodbye. Cryptocurrencies are targeting a billion market of internet users. Potential is way too high. Price will definitely increase in long term. We should understand that we are lucky enough to get Bitcoin at still an affordable price.

polls like this are mostly unreliable because people may mistakenly vote for something else, people may troll and also there are always a lot of FUDsters alone who will vote the only option that helps their FUD. you think someone like KuwkDuck is going to vote for good buying opportunity? of course he will spread FUD and he is not alone.

in any case the dips like what we saw 2 days ago where price went below $3000 to test was the best thing anybody could hope for an investment chance. it is like the previous times when a dip like that happens. it only lasted a couple of minutes and soon after the fast rise started and price was $800 higher in minutes.

[xypos]

Short term should be a great buy. The price floor is set in stone so it seems at $3000 right now so anything significantly below that will definitely attract a rebound as soon as the panic stops, to around $3.5k+ levels.

Though in the next few months if the panic ensues then this floor could adjust down and make it a bad decision.

I would say that if btc does go down below $3,000, by with 50% of your funds so that you have buying power if the floor gets decreased.

[cafucafucafu]

It is definitely not cheap, but it is better priced for buying than a few weeks ago (I don't feel great as I am one of the people that purchased a tiny amount when it was way past 4K, but I needed it to invest on an ICO - which I ended up not doing - so now I am just hoping for it to continue to rise). I might be tempted to buy a bit more right now as a long term investment, and not for ICO investments (I think I will stick to ETH or LTC, when accepted, because since the price isn't THAT high, it doesn't feel that terrible when the price decreases).

For those of you with more Bitcoin or exchange experience, does crypto currency tend to increase or decrease during the weekends or are the price fluctuations too unpredictable?

Indeed. It really depends on whether you think that this bearish market is going to continue into the next few months/years or not, or will a bull wave just recover all the losses made in this round of dumps.

Personally I think that the 1st option is much more likely right now considering there are simply so much bad news, especially from China which still has quite a large influence over the bitcoin market and exchanges. But i think we will see price rise up to $4k+ once again, before a real bear market sets in.

Personally i don't believe that weekends/weekdays have anything to do with market trends.

[reliable]

From 3k mark Bitcoin has suddenly being the Good Buy coin instead of Good bye . It was really a bullish market from there as it has reached 3800 and then now at around 3500 mark . I feel that this should move forward from here as market has already fallen and should reach 4k In coming week .

[nelmari]

It depends on how you handle your bitcoins, if you think it is just another pump and dump coin and you don't value it that much then it is goodbye for some. But if you hodl and think positively and of course think this coin is a good buy now that its price had lowered then we have the same thinking.

[Nazmul012]

Now that Bitcoin is hovering around $3000 after reaching a price around $5000 a couple of weeks ago, do you think this a good time to buy (Good buy) or a time to say Goodbye to Bitcoin?

I think it's time to start buying again with this drop. You can get Bitcoins much cheaper than a couple of weeks ago but there are some things to consider. It's possible that Bitcoin won't recover or it could take a very long time. The price could go even lower before it goes back up so maybe we should wait a little longer to buy.

What do you think?

i already vote about bitcoin   "Good Buy".  of course it is a great chance for us for buy bitcoin at low price and get a lot of profit by hold long.  it is good time for investment also for those people,  who was unable to buy bitcoin and miss a chance before. i think bitcoin will rise up soon and will be able to recovered its loss

[xPPx]

Apple is a nice company. Bitcoin is a nice cryptocurrency. If If banks/government threw everything they could at Apple, and the stock plummeted 33%, would you sell, buy more, of HODL the stock? I will be holding on to my BTC and buying a little whenever it falls under $3000. Wish me luck!

[owengtam09]

Today is a perfect time to invest because bitcoin price drop but it is now recovering, but for me it is still a good buy, and wait for the price to rise again. I think it will still rise and recover so better to invest today.

[Victorycoin]

Goodbye in my view.

I do not expect BTC to  cross 2500 already: there will be probably be another leg up to the 3500-4000 USD range, before the real bear enters the game and confirms the bear market at 2500 USD.

It is not uncommon for the market of any asset to be bearish at one time or the other and yes in the coming month, as a result of the proposed hard fork by proponents of Segwit2x, the red line in the image below may be breached, but beyond that a huge rebound as always should be expected.
https://bitcointalk.org/index.php?topic=2177120.msg21909403#msg21909403

People here are consistenly underestimating the risks they are running with respect to their investment. Relevant questions like the ones I am about to pose aren't even answered in practice:

- How much Chinese BTC can Western markets absorb?
- How many dedicated crypto investment funds will keep BTC in their portfolio long term?
- How will Chinese miners pay the energy bill, when they can no longer easily exchange their BTC for RMB?

There needs to be way more attention to such questions here.

Obviously recent goings-on in the community and market already have answered all your questions and just in case you still want more:

1. it is the global market and not just the western market that are out and already absorbing every Bitcoin China is letting go;

2. Bitcoin is now legal in Japan and South Korea and companies are springing up, by the time China wakes up from their slumber, they would find themselves miles behind.

[mast3rm1nd]

It was indeed a "good buy" option. Bitcoin fundamentals are the same, with or without China, so a $3000 btc was an opportunity to buy at low price.

pretty much this, with or without china BTC is still the same so it's surely a good buy

[e-coinomist]

Goodbye in my view.

I do not expect BTC to  cross 2500 already: there will be probably be another leg up to the 3500-4000 USD range, before the real bear enters the game and confirms the bear market at 2500 USD.
People here are consistenly underestimating the risks they are running with respect to their investment. Relevant questions like the ones I am about to pose aren't even answered in practice:

- How much Chinese BTC can Western markets absorb?
- How many dedicated crypto investment funds will keep BTC in their portfolio long term?
- How will Chinese miners pay the energy bill, when they can no longer easily exchange their BTC for RMB?

There needs to be way more attention to such questions here.

Answering on bullet 3 first.
Bitmain's mine employs roundabout 50 workers, according to some nytimes.com foto feature from this month.
They represent about one-twentieth of the world's daily new BTC or $318,000 dollars a day, at the time of print.
Each person is allowed to export 50,000 RMB or $7,201.
(This value has been 200,000 RMB two years ago, PBOC getting more tight)

So without hiring any money mules they could move 50x $7000 = $360,000 on their own, which is more than BTC production. Assuming they are not mining at a loss, costs < revenue

Oh wait, that rule by thumb calculation lacks timeframe. Daily versus yearly, I think those 50k yuan are an annual individual quota. Hiring mules makes things expensive, but at least there are enough chinese living in china who are eager to earn a buck (about a 10 digits figure). They need twelve 365 times more people than those fifty, just for one single tasks once a year, transfering money from Korea where the BTC got sold back into china. That could become a common job opportunity in 2018
    
Damn politics!


Bullet 1 and bullet 2 are actually identical, since "crypto investment funds" are equal to "Western markets". However they might want to buy in as cheap as possible, hence that dip vom $5000 down to $3000 which is a loss like -30% and got pumped back in a hurry once even daring to touch below $2900. A second bounce on that line would make people more confident?

I'm not worried. My bigger concern is all Segwit2x the 2nd part.

[aysg76]

Well I'll go for 'Good Buy' as market is still recovering and bitcoin price will surely go up. So at this time it is a great chance to get more profit by getting it at a low price as it has a lot of potential and will definitely rise soon...

[Pasnik]

Well I'll go for 'Good Buy' as market is still recovering and bitcoin price will surely go up. So at this time it is a great chance to get more profit by getting it at a low price as it has a lot of potential and will definitely rise soon...

Yes I believe price will recover and it is time for a good buy. Even price is not that yet stable to buy at downtrend it will recover for sure. So buy btc while we can and hold for a long term to gain profit.

[Lazada]

Bitcoin prices have improved considerably in the last day. There is a positive stigma obtained and this is evidenced by the increased volume of bitcoin in various exchanges. For those who buy bitcoin at rates 3000 $ then it is a very good choice. Good buy and you get many benefits.

[Theb]

Just by looking at the daily chart of Bitcoin right now I see that the volume is still high for it to be considered that it is losing its demand. Also seeing what happened to Bitcoin in September 15, 2017 (which a huge play happened) which Bitcoin has dropped down to 3000$ but it quickly jump back up to 3800$ and closed the day at around 3700$ obviously seeing this traders are not yet done on their profit taking, after all is done and everyone has bought Bitcoin at the bottom, I assume the price will go back up to 4000$ again.