Bitcoin dumping towards 8.5k?

[KingScorpio]

https://www.tradingview.com/chart/BTCUSD/UdYRyerv-Huge-falling-wedge-on-BTC-Expecting-a-drop-till-8-5k/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_follower_idea_update

got this prediction of a chart analyst

a price dump for bitcoin could really help bitcoins tx costs, and make it a popular cryptocurrency again

what do you think?

regards

[1715433875]

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[vv181]

Tha significant support is at $10k If that support level break then I believe a massive dump will happen because of panic selling. The $10k support is a psychological level, so I expect many people will be scared when it breaks.

[KingScorpio]

Tha significant support is at $10k If that support level break then I believe a massive dump will happen because of panic selling. The $10k support is a psychological level, so I expect many people will be scared when it breaks.

many people are leaving bticoin simply because its to expensive to use, so the price drops, bitcoin isnt attractice as a value storage, but it was as a way to gain wealth, (on the expense of others)

regards

[esgdrhlg]

Tha significant support is at $10k If that support level break then I believe a massive dump will happen because of panic selling. The $10k support is a psychological level, so I expect many people will be scared when it breaks.

It seems that the recent BTC panic has been nearly eradicated because the South Korean ban also failed to cause a greater degree of BTC prices to fall

[ivrynx]

I think this year will be another milestone for bitcoin, since 2017, a lot of people started to trust cryptocurrencies because of bitcoin and had found out that there are other currencies aside from bitcoin before the year ks about to end, bitcoin will need more support from the users and investores, i think, we'll see it again after ghost month this year, since the bullish run stated happening on the same time last year. We should not loose our hopes this year, since everything that goes down, will eventually go up, and as far as currecny goes, bitcoin is not an exception.

[pooya87]

there is a lot of resistance above $10,000 and just because some lines and wedges that the chart has point to a certain price it doesn't mean it will go there.
first it has to go below $12k again and be able to hold it there, there has not been many left in the market to sell their coins and unless something forces them to, i don't see them selling either.

a price dump for bitcoin could really help bitcoins tx costs, and make it a popular cryptocurrency again

no it won't.
if the speculation in that chart you shared comes true, it means a lot of sells which will also trigger a lot of buys eventually too. and that much selling and buying means a huge number of transactions and that will obviously lead to higher fees.

[Reid]

It is still a prediction and does not mean it will always come true.
I have my own predictions too and all I can see is it will go back to 20k dollars in no time.
Bitcoin got that feature where once it reached a number it goes back there until it gets another higher number.

[dinoloverpete]

https://www.tradingview.com/chart/BTCUSD/UdYRyerv-Huge-falling-wedge-on-BTC-Expecting-a-drop-till-8-5k/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_follower_idea_update

got this prediction of a chart analyst

a price dump for bitcoin could really help bitcoins tx costs, and make it a popular cryptocurrency again

what do you think?

regards

The price has dumped to 13k and that doesn't seem to have helped transactions in terms of speed or fees. I don't think that it will dump below 10k, there seems to be good support around 13k. If it does I don't see it being good for transaction costs or for making bitcoin popular again.

[saedasda]

Yes we can see bitcoin from that price if support will be broken so lets watch the price if the volume will decrease i might take profit then go back when its $7k

[jerlen17]

This fast few weeks the value of bitcoin was going down or droppinng down each and everyday. It become high and all of a sudden it will going down again, up and down and the estimation or speculation of others that the bitcoin reaches 20k$ at the end of 2018 was not happened. And i am hoping that botcoin will strike high again like before.

[rockyboy]

If BTC dumps can fix the current BTC and ALT price correction, why not? Besides all alt coins are going up now. After this BTC dump, both BTC and Alts willl go up until March.

https://www.tradingview.com/chart/BTCUSD/UdYRyerv-Huge-falling-wedge-on-BTC-Expecting-a-drop-till-8-5k/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_follower_idea_update

got this prediction of a chart analyst

a price dump for bitcoin could really help bitcoins tx costs, and make it a popular cryptocurrency again

what do you think?

regards

[Parodium]

Bitcoin price is likely to be stable around the $10k-$13k mark, it is highly unlikely to go below that.

However, if it does, then you can expect it to crash to as low as $5k due to the ensuing panic.