how low will we go before we hit bottom?

[campello]

$52 in July 8. I just guess.

[evolve]

I think single digits is very possible.

[Zangelbert Bingledack]

The way the market is looking right now I'd say we are going to bottom out either in the 50s or low 60s somewhere in August or September this year. Don't think we're going into full panic mode and subsequent capitulation, this is not 2011 and fundamentals are looking too good for that to happen imo. Another option is that the market slowly regains confidence and support at 80 until it's ready to move up again, but I think that's the least likely option at this moment. It just feels like there has to be some more bloodshed first.

+1

Though timing might be different.

[Zangelbert Bingledack]

I think single digits is very possible.

Why? That'd be a worse rout than 2011. I can't see any reason why it should be as bad as 2011, let alone worse.

[hl5460]

Ideal number will be 30 if 50 doesn't stand.

[evolve]

Why?

Bigger bubble, bigger pop.

[solex]

We have already had a low of $50.01

The low-down or highlight is: any low higher than that will be a higher low, not the lowest low which is commonly known as a bottom!

[Zangelbert Bingledack]

Why?

Bigger bubble, bigger pop.

How do you figure it's bigger? In percentage terms or absolute? In percentage terms the 2011 bubble was bigger and more abrupt. In absolute terms we've already popped way farther than in 2011 (but absolute price should be irrelevant anyway).

[Kiaya]

https://i.imgur.com/q1IbF37.png

Seeing lots of resistance around 50, and I think some exponential support might come into play around 30. I'd be really surprised at anything less than $30 - I'm sure it'll bounce around quite a bit on the way down.

[evolve]

Why?

Bigger bubble, bigger pop.

How do you figure it's bigger? In percentage terms or absolute? In percentage terms the 2011 bubble was bigger and more abrupt. In absolute terms we've already popped way farther than in 2011 (but absolute price should be irrelevant anyway).

Hype, media, volume, percentage and absolute price.

It's only smaller percentage wise if you start the 2011 bubble at like 0.50. IMO, the bubble started much later. The log chart only gives you a small part of the picture of the Bitcoin economy during 2011.