Call the Bottom, Bloody Edition

[baritus]

I'm going to guess $6,000 will be the bottom. What's your guess?

[fabiorem]

I was thinking in 8k, but after I got a closer look to the charts, I guess it will be 5k.

[ktabb]

I'm going to guess $6,000 will be the bottom. What's your guess?

$4,000 in about a month. Idk if that will be the bottom though, it depends on if bitcoin's transaction problems are solved. If they are, it could bounce back, but IMO it will take years before it breaks $10k again. I wouldn't be surprised if a superior alt coin eclipses it.

[baritus]

I'm going to guess $6,000 will be the bottom. What's your guess?

$4,000 in about a month. Idk if that will be the bottom though, it depends on if bitcoin's transaction problems are solved. If they are, it could bounce back, but IMO it will take years before it breaks $10k again. I wouldn't be surprised if a superior alt coin eclipses it.

Can an altcoin eclipse it if people's trust in cryptos gets damaged by BTC crashing though? I hope it can hold a decent price anyway.

[ktabb]

Can an altcoin eclipse it if people's trust in cryptos gets damaged by BTC crashing though? I hope it can hold a decent price anyway.

I think the answer to that is yes, but that it will take time. People lost trust in bitcoin and exchanges after the mt gox incident in early 2014, but bitcoin came back... only it took several years. I think that we could see something similar here where it goes into a lull for a while before any crypto really starts to rise again.

[babygun]

Bitcoin just dropped below the 10k mark, which I thought would act as a strong support. I am thinking that it will go down to around 5000$ or even lower.

[sjefdeklerk]

I'm putting in $2875 as rock bottom

[coinpecker87]

I'm going to guess $6,000 will be the bottom. What's your guess?

$4,000 in about a month. Idk if that will be the bottom though, it depends on if bitcoin's transaction problems are solved. If they are, it could bounce back, but IMO it will take years before it breaks $10k again. I wouldn't be surprised if a superior alt coin eclipses it.

Can an altcoin eclipse it if people's trust in cryptos gets damaged by BTC crashing though? I hope it can hold a decent price anyway.

Yeah I think altcoin will make this downtrend end. It all now lies in the hand of alts to save the failing reputation of bitcoin. Some of the investors are now calling a quit.

[1Referee]

It's impossible to say anything of value in times where panic is the leading factor. It might either jump back up, or go down further. Imagine how those must feel having bought near the peak levels of last year with mortgage capital that they have taken out solely for investment purposes. Funny thing is that people were complaining about the price not moving up much further beyond $14,000 in the last few days, and now they have this to swallow through. Some sort of stability within a certain range is always better than having the price go down, isn't it people? It's probably the long waited for correction that people didn't believe in anymore due to it taking so long to kick in, but here we finally have it.

[thecodebear]

Major panic selling going on now obviously. It might keep dipping to 7 or 8 thousand. Probably in a month we'll be back at $14k or so though.

[baritus]

It's impossible to say anything of value in times where panic is the leading factor. It might either jump back up, or go down further. Imagine how those must feel having bought near the peak levels of last year with mortgage capital that they have taken out solely for investment purposes. Funny thing is that people were complaining about the price not moving up much further beyond $14,000 in the last few days, and now they have this to swallow through. Some sort of stability within a certain range is always better than having the price go down, isn't it people? It's probably the long waited for correction that people didn't believe in anymore due to it taking so long to kick in, but here we finally have it.

Good analysis and very true. It definitely started feeling like a bubble, even to me, and I've been holding since 2012.

[sgbett]

Major panic selling going on now obviously. It might keep dipping to 7 or 8 thousand. Probably in a month we'll be back at $14k or so though.

This is about right, but that wont be the actual bottom.

[gentlemand]

Yeah I think altcoin will make this downtrend end. It all now lies in the hand of alts to save the failing reputation of bitcoin. Some of the investors are now calling a quit.

Alts are probably the cause of this rout. If a (plagarised) white paper and some PR spin can top a 10 billion dollar market cap that tells me the money entering has completely lost its mind. If Ripple, a system that is over a decade old and it still 100% useless, can top 100 billion then anyone not thinking it's a bubble is a silly sausage.

My vote is for the $4-5000 range.

[UnDerDoG81]

4K ish 

[ClutchThese]

I have an odd feeling that it will go back to 1100 or so.

And I think the only reason it stays above 1k is because of the whales who will continue to accumulate at ~1k.

In 10 years time, I think BTC will be selling for pennies.

[gentlemand]

I have an odd feeling that it will go back to 1100 or so.

And I think the only reason it stays above 1k is because of the whales who will continue to accumulate at ~1k.

In 10 years time, I think BTC will be selling for pennies.

Then for what reason are you wasting your time here? Get rid and trot along to the brighter future awaiting you. It must be a wonderful feeling throwing those shackles away forever.

[ChinkyEyes]

I'm guessing bottom is at 8.1k

[ClutchThese]

I have an odd feeling that it will go back to 1100 or so.

And I think the only reason it stays above 1k is because of the whales who will continue to accumulate at ~1k.

In 10 years time, I think BTC will be selling for pennies.

Then for what reason are you wasting your time here? Get rid and trot along to the brighter future awaiting you. It must be a wonderful feeling throwing those shackles away forever.

Well, is this not the "speculation" forum?  Am I not allowed to speculate with the rest of them? Just because I don't believe BTC has a future, doesn't mean I'm out on the entire cryptocurrency movement. Good grief

[romneymoney]

$4k is my guess
I'm thinking it may be a few years before we reach a new ATH.  Next pump will occur after volume and fee problems are resolved, if btc doesn't fix it by 2020 I predict it will be some other coin instead.

[coinpecker87]

I have been doubts in bitcoin if he can really stay strong in this competition as he is being battered by a lot of FUD's and competition even its own hardforks is challenging him yet he managed to do well.