Attention! BTC is heading for 8K!

[Samarkand]

I don't see bitcoin going back to $8000 because bitcoin never lost more than 45% in the past bitcoin market correction history.

This is definitely wrong if you take a look at historical
Bitcoin exchange rates.

In April 2013 the price decreased by ~70 % in 1-2 days (233 -> 67 $).
It eventually recovered due to the bull run at the end of 2013, but until
then you had to withstand nearly 8 months of flat prices around
~120 $.

I suspect that in the early days there were even bigger price swings when
Bitcoin was trading in the single digits or even under a single $. However, I didn´t
know about Bitcoin back then therefore I can´t recall any specific example.

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[Trimegistus]

The next big thing is Ripple, it's being heavily pumped. This move can only puss BTC further down.

Let's all be honest, nobody can guess what the whales will do tomorrow.

If they drop their support on BTC and fully turn their attention to an altcoin then BTC can really drop bellow 8k

[william8829]

Bearfinex might take it to 10k soon lol.

Look into "coiled up" and markets...should help any hodlers on the edge.   

I took your advice and looked it up.  Investopedia defines a coiled market as,

A market that is believed to have the potential to make a strong move in one direction after being pushed in the opposite direction. The idea is that if a market should be headed in one direction based on its fundamentals but is pushed in the other direction, it will eventually make a strong move in the original fundamental direction. This coiled move will often be more substantial than what might have been the case if it had gone in the expected direction to begin with.

After reading this it looks the coiled market revolves around Bitcoins intrinsic value aka fundamentals which is highly subjective and I personally believe to be overbought and that the market should be heading downward.

Predicting a market is very difficult unless you are controlling it.  Insider trading is an established practice on Wall Street( illegal but widespread). Bitcoin regulations range from little to none depending on the trading jurisdiction.

So the insiders are artificially keeping the price of Bitcoin up hoping to lure traders into buying more cryptocurrency until they dump.

[btcone111]

Bearfinex might take it to 10k soon lol.

Look into "coiled up" and markets...should help any hodlers on the edge.  

I took your advice and looked it up.  Investopedia defines a coiled market as,

A market that is believed to have the potential to make a strong move in one direction after being pushed in the opposite direction. The idea is that if a market should be headed in one direction based on its fundamentals but is pushed in the other direction, it will eventually make a strong move in the original fundamental direction. This coiled move will often be more substantial than what might have been the case if it had gone in the expected direction to begin with.

After reading this it looks the coiled market revolves around Bitcoins intrinsic value aka fundamentals which is highly subjective and I personally believe to be overbought and that the market should be heading downward.

Predicting a market is very difficult unless you are controlling it.  Insider trading is an established practice on Wall Street( illegal but widespread). Bitcoin regulations range from little to none depending on the trading jurisdiction.

So the insiders are artificially keeping the price of Bitcoin up hoping to lure traders into buying more cryptocurrency until they dump.

BTC intrinsic value is "highly subjective"? - probably not as high as you think
There are at least 2 reasonable approaches that i know of that value bitcoin at around 5K - 7K.
These methods are exponential adoption rate fitting and regression against transaction volume.
You can google them yourself.
Not everything is FUD FUD FUD.

[Toxic2040]

-snip-

After reading this it looks the coiled market revolves around Bitcoins intrinsic value aka fundamentals which is highly subjective and I personally believe to be overbought and that the market should be heading downward.

Well..when you get right down to it everything is subjective I suppose..  I do not think the market is anywhere close to overbought. I like to think a order of magnitude in use, interest, speculation and general "awareness" in the last year. All of this is but the tip of the iceberg. I like to equate it to a bullwhip cracking..cryptocurrencies are that energy potential traveling down the whip..the "crack" at the end is no where near yet. That shockwave when it hits fully will resonate thru the global markets for the next decade.

Predicting a market is very difficult unless you are controlling it.  Insider trading is an established practice on Wall Street( illegal but widespread). Bitcoin regulations range from little to none depending on the trading jurisdiction.

Always true..but even hodling a few coins allows for huge potential profits during swings.

So the insiders are artificially keeping the price of Bitcoin up hoping to lure traders into buying more cryptocurrency until they dump.

No no no..the insiders goal is to acquire more bitcoin..dont ever forget that. 

[LogitechMouse]

I had watched a video on youtube yesterday and he said that there is a possibility that bitcoin can go down and reach the 8k mark. By When? I don't know that there is a possibility. If this happens, I expected it and I will not be shocked of it.

[asriloni]

I had watched a video on youtube yesterday and he said that there is a possibility that bitcoin can go down and reach the 8k mark. By When? I don't know that there is a possibility. If this happens, I expected it and I will not be shocked of it.

it looks a lot of people are moving towards new scalable currency and look at this chart how the fee goes down after the ripple was taking the second place in the cryptocurrency,
https://bitcoinfees.earn.com/
Bitcoin started from nothing and there is a possibility if that worth nothing too.

[Casdinyard]

I had watched a video on youtube yesterday and he said that there is a possibility that bitcoin can go down and reach the 8k mark. By When? I don't know that there is a possibility. If this happens, I expected it and I will not be shocked of it.

it looks a lot of people are moving towards new scalable currency and look at this chart how the fee goes down after the ripple was taking the second place in the cryptocurrency,
https://bitcoinfees.earn.com/
Bitcoin started from nothing and there is a possibility if that worth nothing too.

Don't you think it's too much? Yeah bitcoin just came from a scratch and now it's everything but it won't stoop down in that level and investors won't let that happen easily. What happen now in xrp is full of manipulation and it's really hard to tell when the best time for entry and exit. Nevertheless you should be very cautious with it.

[Quidat]

I had watched a video on youtube yesterday and he said that there is a possibility that bitcoin can go down and reach the 8k mark. By When? I don't know that there is a possibility. If this happens, I expected it and I will not be shocked of it.

it looks a lot of people are moving towards new scalable currency and look at this chart how the fee goes down after the ripple was taking the second place in the cryptocurrency,
https://bitcoinfees.earn.com/
Bitcoin started from nothing and there is a possibility if that worth nothing too.

Don't you think it's too much? Yeah bitcoin just came from a scratch and now it's everything but it won't stoop down in that level and investors won't let that happen easily. What happen now in xrp is full of manipulation and it's really hard to tell when the best time for entry and exit. Nevertheless you should be very cautious with it.

Anything has the possibilities for its value to go back but assuming on how strong the community thats supports bitcoin i cant really think off that it would become useless or worthless at all in the end which have being said investors wont really let this thing to happen or even on community itself. I can really see on technical analysis on charts that bitcoin is already on head and shoulder form and seeing on the last support to be break off is on first 11k price and the lowest would be 8k.

[Baofeng]

I had watched a video on youtube yesterday and he said that there is a possibility that bitcoin can go down and reach the 8k mark. By When? I don't know that there is a possibility. If this happens, I expected it and I will not be shocked of it.

it looks a lot of people are moving towards new scalable currency and look at this chart how the fee goes down after the ripple was taking the second place in the cryptocurrency,
https://bitcoinfees.earn.com/
Bitcoin started from nothing and there is a possibility if that worth nothing too.

Don't you think it's too much? Yeah bitcoin just came from a scratch and now it's everything but it won't stoop down in that level and investors won't let that happen easily. What happen now in xrp is full of manipulation and it's really hard to tell when the best time for entry and exit. Nevertheless you should be very cautious with it.

Wohohhhh hold your horses guys. Its the end of the and just give bitcoin a break. If it heads to $8K, so be it. We can't really control where the price is going to be, we have been in this kind of situation before but bitcoin always recovered as long as you have the patience.

But yeah, this downward trend seems to make a lot of people very nervous here because of the amount they have investment, so if they want to get out now you can do it and don't wait till the price sinks to $8k. The bears and bulls are still fighting, this is want we are seeing in the last couple of weeks. And no one is really giving an inch. Let's see how it goes though, I will buy when the price gets below $10K. Perfect time to hoard a lot of bitcoins.

[PG13]

Yeah it will gonna happen, but the question is when?
I will buy if its at 8k... That will be best time to buy and hold it.

[wawanwawan96]

Have you guys seen the sharp dips just hours ago? What is happening? According to our analyst, BTC price is heading for 8K, do you think it's possible? Feel free to leave your comments below.

Full version of analysis from Kuang Ren:

BTC:
BTC is very likely to start a new round of downtrend with the bearish news and gently-increasing volumes during the dip.

The destination for the price during such downward move may be around $8,000, which makes it important for us to avoid risks as the overall bearish sentiment is not over yet. I’ve been emphasizing on the fact that prices of all major coins are just bouncing but not reversed.

Altcoins:
The overall trend of altcoins today seemed weak except for XRP, NET, ADA, XLM, LSK and QTUM. Once it becomes weak, funds will get together and push those well-performed coins up.
XRP:
My analysis stays the same, i.e. current strength of momentum can’t set all locked positions at the high level free. Even if price sets another new all-time high, it could be a fake break, which makes it inappropriate to chase high from current level. Therefore, a new all-time high is a window to reduce your positions.

ADA:
Floor is formed at high level and signs of defending price at such floor by main funds can be observed, indicating that the overall uptrend is not over yet. 2 directions for future market: firstly, main funds will dump their chips without any concerns as the holding costs are extremely low. Secondly, they will dump after another round of surge since profits will be decreased if chips are directly cleared. Lose-stopping price can be set at 0.000025 if you decide to go against the overall downtrend.

XLM:
Flirting with IBM caused the continuous surges during previous sessions, XLM still holds a chance to move in an independent manner as volumes don’t increase at high level and main funds keep their chips in pockets. Lose-stopping price can be set at 0.000013 if you decide to go against the overall downtrend.

LSK:
It shares the same logic with XLM as volumes don’t increase at high level and signs of defending price by main funds can be observed. Currently, price is digesting the surges at the floor formed at high level. Lose-stopping price can be set at 0.000013 if you decide to go against the overall downtrend after the digestion.

QTUM:
ADA shares some common features with QTUM including large-range surges, the continuous sideway move at high level and protection from main funds, which makes further gains possible, lose-stopping price can be set at 0.0029 if you decide to go against the overall downtrend after the digestion
Lose-stopping prices mentioned above must be strictly followed, once broken, positions must be cleared immediately. Keep in mind that information contained herein is strictly for information purposes only.

Original by Kuang Ren, translated and posted by AICoin Jami.

bitcoin prices will decline slightly in December bitcoin will rise slowly after new year in January according to predictions will rise to 15k $.

[crairezx20]

Honestly we don't know when the price will hit back to $8k but for me i still holding because i know the price can be still increase back since there are lots of people are supporting bitcoin and they are still developing bitcoin.. we are just seen a large drop not only because of the big sell happen i think because its holiday that is why we are seeing large price drop but i think the price can increase again and hit $19k this coming end of the year.. if people are actively use bitcoin again..

[shesheboy]

~snip~

nice analysis you got there buddy. id still also agree that bitcoin could still decline down to 8k dollars or more because of the effect of holidays season but bitcoin will bounce back and recover from a hard dip just by the beginning of the year 2018 or as long as holidays have been passed and subsided because majority of people specifically bitcoin users will not have a reason to sell their bitcoins anymore, not unless they need it badly like for example if there's an emergency and  special ocasions.

[1Referee]

If they drop their support on BTC and fully turn their attention to an altcoin then BTC can really drop bellow 8k

There are definitely cycles where one time alts get pumped badly, and then Bitcoin, but I don't think it's going to happen any time soon, unless whales start to group up and artificially dump the price down. We just have to remain realistic and be happy that we are able to somewhat maintain current levels, because even though people don't see the market go up, it takes a good level of buying power to get the market bought up again. As long as we see $10,000 being supported, there is no need to even consider the market to fall back to four figure levels again. If we do end up falling down below $10,000, we might go down further, but it's all empty speculation at this point.

[Bitmore1]

For what it's worth,

I am an investor, long term...

I think this all about the whales cashing in their millions as they reach their goals.
If you can retire on ? million USD, then there is a certain price at so many bitcoin that will provide you your annuity fund for the rest of your life.

There are so many early investors who own THOUSANDS of BTC that just want to cash out much but probably not all, of their BTC and tell their bosses to fuck off.

I get that.

Then there are the millions of investors, small personal investors, as well as the huge institutional ones, who are waiting for that low dip...

Face it folks, this BTC ride is a roller coaster, and if you can't handle that then get off now. 

Lots of more excitement ahead though, and I think it is positive...

[illnino]

Most likely it seems to me that this is done so that the right people can buy their bitcoins now at a very low price, and then there will be a jump to such a loss that everyone will simply be in shock. This is my personal opinion, if something is wrong, then try to refute the evidence.

[Fedor07]

There was a post almost the same like this , they we're saying that Bitcoin is gonna decrease to $7000 ,  i will tell you what I told to that guy , BITCOIN  is not gonna fall down so much , it's just not possible, not so much , maybe it's gonna fall down to 11k or maybe 10k but not 8k man , is just to much , it's a long journey to that number . So , I will tell you again , Bitcoin is not gonna reach 8k again .

[ASHLIUSZ]

By the end year most users could have lost hope, because users didn't experience the price increase same as the one they've been expecting. Now this has been getting sought as the price has started to move forward slowly crossing $15000 on several exchanges. In specific there is no reason to see the price reach $8k.

[Trimegistus]

By the end year most users could have lost hope, because users didn't experience the price increase same as the one they've been expecting. Now this has been getting sought as the price has started to move forward slowly crossing $15000 on several exchanges. In specific there is no reason to see the price reach $8k.

And are you sure on the reasons that led BTC to $20k? What were those reasons?

Reason? Crypto markets are everything but reasonable!

We don't see the background moves, we can only guess.