What will be the bottom(for you)?

[stefantt]

with bitcoin price falling I sometimes ask myself; when is enough?
What do you guys think will be the bottom before it goes back up?
And what would be your bottom? 9k? 8k? 7k?

[1715035913]

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[ktabb]

with bitcoin price falling I sometimes ask myself; when is enough?
What do you guys think will be the bottom before it goes back up?
And what would be your bottom? 9k? 8k? 7k?

Depends on time frame. In the next month, I think the bottom could be $6-7k. Over the next few years, I think the bottom is zero. Bitcoin cannot be used as a currency or store of value, and therefore is really worth 0. It is being held up at a multi-billion dollar market cap because of irrational investor behavior. Maybe an alt coin will take the place of bitcoin, but bitcoin's technical and scalability problems are ensuring that it will never reach its dream of becoming a universally used currency.

[dothebeats]

It could be somewhere in the $7500 ranges but worse, it could even lead to $5000 a pop. There are not enough motivation for the markets to push the price upwards and all the breaking news globally are focused on the
South Korean government's crackdown on cryptocurrencies and whatnot. The overall sentiment of the market is not that good and almost everyone is on full bearish mode, and the bulls couldn't keep up with the momentum of the former.  The next few days will be a bloodbath--hell, it could last even weeks--until something good comes up.

[pooya87]

it shouldn't have gone below $10k to begin with
it seems to me that for the past couple of weeks they have been spreading FUD with some good expertise and creating panic in the market and kept it consistent to decrease the bitcoin price for some reason.

looking back it was first the ban FUD, China and Korea. then the bitfinex subpoena came out which was actually a couple of weeks ago but the news was kept hidden until last 10 hours that it started filling the media

[alyssa85]

with bitcoin price falling I sometimes ask myself; when is enough?
What do you guys think will be the bottom before it goes back up?
And what would be your bottom? 9k? 8k? 7k?

You have to look for something called capitulation. When a market is going upwards, you usually get bears saying it is going to fall. When the last bear gives up and decides that the market is not going to fall after all, is the point when it turns downwards. And it's the same in reverse - when the  last bull gives up and stops talking about the moon, that is when it will turn upwards.

[dinofelis]

If previous bubbles (2011, 2013) are an indication, it must be in the range of $2000-$4000.

In 2011, the bubble of $30 crashed down a factor of 10, down to $3.  In 2013, the peak was near $1200 and it crashed down to $200.
So a factor of 10 the first time, a factor of 6 the second time.  Now we peaked near $20000, so a factor 10 gives us $2000, a factor of 6 would give us something over $3000, but we also see that it gets less severe.  

[timerland]

with bitcoin price falling I sometimes ask myself; when is enough?
What do you guys think will be the bottom before it goes back up?
And what would be your bottom? 9k? 8k? 7k?

It should be around $9k at the worst. Perhaps the price would go down to $8k for the short term and then rebound back up to $10k right now. I still see $10k as a floor, and it'll be hard to break it completely. Of course it is possible, but not likely.

I'd say that instead of trying to time your bottom perfectly, probably just start buying now bit by bit.

Bottoms are impossible to predict since you never know how much FUD and panic is going to be there. But it'll be easy to predict the rebound that comes after the bottom. And we're already down 50% in like 1 month, it'll be hard to go down more in the short term.

[Noctis Connor]

For me, the bottom is still 0(zero). If you will get nothing, that is the bottom. But if the price is still has a value, it is not the bottom yet. Because it still has the chance to get high and make rise again. Just be responsible to yourself and not to be on hurry.

[YuginKadoya]

In every info that analysis always are saying it can be $9000 mark value, We had reach an all time high of $19,000 that is why it is safe to say that the safe zone will be around $8500 mark in my opinion but we can not predict on the exact price it will dip, but when that time come I think bitcoin will be ready to take up the momentum and are ready to reach the $20,000 value.

[dinofelis]

In every info that analysis always are saying it can be $9000 mark value, We had reach an all time high of $19,000 that is why it is safe to say that the safe zone will be around $8500 mark in my opinion but we can not predict on the exact price it will dip, but when that time come I think bitcoin will be ready to take up the momentum and are ready to reach the $20,000 value.

I don't know how you can say that.  Historically, bitcoin went down already a factor of 10 between 2011 and 2012, and a factor of 6 between 2013 and 2015.

[UnDerDoG81]

Looks like most people are in despair Phase already. Bitcoin is death part 260 or so. Future looks bright 

[wuvdoll]

It could be somewhere in the $7500 ranges but worse, it could even lead to $5000 a pop. There are not enough motivation for the markets to push the price upwards and all the breaking news globally are focused on the
South Korean government's crackdown on cryptocurrencies and whatnot. The overall sentiment of the market is not that good and almost everyone is on full bearish mode, and the bulls couldn't keep up with the momentum of the former.  The next few days will be a bloodbath--hell, it could last even weeks--until something good comes up.

Other than some government's regulations on crypto currency, crypto people are focusing into switch their investments from bitcoins to some other altcoins. This plays major role why bitcoin prices are falling down whereas some coins are gaining momentum. Honestly, I'm too looking for some positive news for bitcoin ecosystem which will be the only savior to make bitcoin prices to bounce back. It may be implementation of lightning network or adoption of bitcoin payment system by any market giants. I want it to happen well in advance before market sees some worst situations.

[JC btc]

I don't think that bitcoin would go down to $10k, especially now that South Korea already made decisions to allow cryptocurrencies for as long as they will indicate their real name so they can be taxed and not having a chance to avoid it, and for me it is better than banning or disallowing bitcoin in one country.

[AnonBitCoiner]

I don't think that bitcoin would go down to $10k, especially now that South Korea already made decisions to allow cryptocurrencies for as long as they will indicate their real name so they can be taxed and not having a chance to avoid it, and for me it is better than banning or disallowing bitcoin in one country.

Obviously right.If the Bitcoin is banned in South Korea means,it will purely affect the bitcoin price.The decision made in South Korea is to regulate the Bitcoin and make some taxes from the people.This will surely increase the price of Bitcoin,I had expected the price will reach the bottom of 8500$.

[Lampaster]

I will not be the bottom. I will keep your coins at any price. In the future bitcoin price to rise necessarily. Now is the time to accumulate coins. I have a main job. It helps me to cover the daily needs. I can wait for the price increase of bitcoin forever. People very much focus on the price of bitcoin. This only reinforces the panic.

[batang_bitcoin]

What do you guys think will be the bottom before it goes back up?

$9,500 will be the bottom for this year, I guess and when it goes back the price will rapidly increase again just like before.

And what would be your bottom? 9k? 8k? 7k?

$9,500.

[sana gull]

I don't think that bitcoin would go down to $10k, especially now that South Korea already made decisions to allow cryptocurrencies for as long as they will indicate their real name so they can be taxed and not having a chance to avoid it, and for me it is better than banning or disallowing bitcoin in one country.

That is really a good news to hear about bitcoin, hope that this will give a new hope to bitcoin, we can expect some good news about bitcoin which will surely boost the bitcoin price and hope that very soon we will see the bitcoin price trading above 20000$. I think the current is the best time to invest money in bitcoin and get a good profit after some time.

[pereira4]

it shouldn't have gone below $10k to begin with
it seems to me that for the past couple of weeks they have been spreading FUD with some good expertise and creating panic in the market and kept it consistent to decrease the bitcoin price for some reason.

looking back it was first the ban FUD, China and Korea. then the bitfinex subpoena came out which was actually a couple of weeks ago but the news was kept hidden until last 10 hours that it started filling the media

The bottom SHOULD have been $10,000, but the Tether news have made a lot of people lose their calmness and sell like idiots, this has broken the $10,000 psychological barrier and now we don't know where the bottom is, we can only guess that former resistance lines will be tested. I wouldn't bet it going lower than $7,000 because it wouldn't be pretty. But look at the bright side: we will have another chance to get more BTC.

Remember: They are making more fiat, but they are not making more USD. Choose wisely.

[trickyriky]

with bitcoin price falling I sometimes ask myself; when is enough?
What do you guys think will be the bottom before it goes back up?
And what would be your bottom? 9k? 8k? 7k?

Hope we will not see it, but if Bitcoin reaches 7 thousand it will be a dramatic event. I am waiting for its growth.

[rizkyhiw]

with bitcoin price falling I sometimes ask myself; when is enough?
What do you guys think will be the bottom before it goes back up?
And what would be your bottom? 9k? 8k? 7k?

Based on the current circumstances, the basis for my current $9000.
Well, I also sometimes ask myself when things like this will pass and bitcoin be the winner again like some time ago. With the current FUD still, I do not think the bitcoin will come back again quickly