That was the bottom. It's going back up.

[cellard]

It's obvious $2800 was the bottom. Technical analysis pointed an obvious trend reversal there. Also a lot of people were under the influence-mind control of Goldmans Sachs searching for the $2200 prediction that they gave. Of course, Goldmans Sachs along with Jamie Dimon and China area all FUDding on purpose to buy cheap Bitcoin, they would never give you a perfect entry price, so a $+500 margin seems reasonable, hence the $2800 bottom.

They just got a ton of cheap BTC from panic sellers and positioned themselves in this unavoidable post-bitcoin reality where the most precious asset of a country will be to hold Bitcoin. This is game theory at work, nations fight and FUD to be the dominant Bitcoin states. Get yours or get fucked.

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[fabiorem]

Is it a good idea to hedge 10% of btc wallet in neo?

[AtheistAKASaneBrain]

Looks like OP nailed it, it bottomed at $2800 and right now we are at $3520 and climbing back up. Other reputable price analyists like Tone Vays called a $2800 trend reversal too.

It really cannot get any worse than what we saw. The impact of China banning Bitcoin was obviously priced out already and not only that, but the implications of no Chinese exchanges were greatly EXAGGERATED as we are seeing a massive bull happening right no without Chinese exchanges.

[LFC_Bitcoin]

I didn't think it was obvious that the price would bounce back so well. I'm glad we seem to have rebounded quite strongly though. China can go & suck a fat one, trying to ruin our finances

[jhayzxenon]

well it's the perfect time to get into bitcoin given the situation
when there is a panic sell, there is a waiting buyer

glad i was able to get one at $3k

[topper26]

Was never in doubt, happens all the time with bitcoin. Thankfully bought at 3000 now can sit back and watch those profits take off!

[Baofeng]

Was never in doubt, happens all the time with bitcoin. Thankfully bought at 3000 now can sit back and watch those profits take off!

Nice mate. I'm seeing the price going to $3500 now. $600 in a few hours. I don't know if this is a trap, but its good to see bitcoin recovering again after such mess that China has made to the ecosystem last few days or so. Wasn't able to buy though, and since I'm late in the party, I might as well see how it turns out tomorrow. Someone says that dead cat bounce, which is a temporary recovery. But let say how it goes.

Looks like OP nailed it, it bottomed at $2800 and right now we are at $3520 and climbing back up. Other reputable price analyists like Tone Vays called a $2800 trend reversal too.

It really cannot get any worse than what we saw. The impact of China banning Bitcoin was obviously priced out already and not only that, but the implications of no Chinese exchanges were greatly EXAGGERATED as we are seeing a massive bull happening right no without Chinese exchanges.

I agree. It was grossly exaggerated and I guess some big entities have already benefited from such FUD. Chinese exchanges are dumping heavily but if was already offset by another massive bull run that we are seeing. We may see $4000 again. And for holders, this is a good day, and it paved off. Losers again are the weak hands that panic during the dip.

[gilangIDR]

I didn't think it was obvious that the price would bounce back so well. I'm glad we seem to have rebounded quite strongly though. China can go & suck a fat one, trying to ruin our finances

There is already a positive sign looking at the current bitcoin price. Prices have started rising and leaving 3500 $, but a bad thing may happen. We still can not leave completely that the case in china has finished. Maybe there will be new news that can increase and reduce the price of bitcoin globally.

[arbitrage]

This recovery will last longer, first we must be ready for small bull trap, which is forming now. 3300$ will be next stop. After this we can recover completely and go beyond 4000$. My advice is place your order lower and wait again.

[khufuking]

It is really amazing $2800 bottom call was perfect . To be honest I thought it will happen before breaking the $3000  but I am still a noobish at trading crypto so I am happy with my reads now I think one more shake will happen before returning between 3900-4200 for few days then continue heading up .

[hatshepsut93]

The price right now is $3,700, which is a giant swing from yesterdays bottom of $2,800. I'm sure there must be some hidden reason for that. Maybe we'll soon hear the announcement that Bitcoin exchanges will open again after getting licenses. I have this theory that the price always moves before the news hit the media, because professional traders have their own sources, so they react before the general public can. If you remember, Bitcoin started dropping right after hitting $5,000 and everyone though that it's just a correction, and after a few days we started hearing rumours about China ban.