Apocalypse BTC! How low will it go?

[matuson]

In the past year, bitcoin has also dropped to $ 9,000 after that, the price rose to $ 20,000. Maybe the same will happen again this year? It seems to me that the real price of bitcoin 9-10K. everything else is speculative. This means that the price will not fall below this limit. We are at the bottom. Now is not the time to sell the coins because at any moment can turn on the pump.

[Lanatsa]

In the past year, bitcoin has also dropped to $ 9,000 after that, the price rose to $ 20,000. Maybe the same will happen again this year? It seems to me that the real price of bitcoin 9-10K. everything else is speculative. This means that the price will not fall below this limit. We are at the bottom. Now is not the time to sell the coins because at any moment can turn on the pump.

Same presumptions about on the price where I do consider this range as a normal one since we are here on last years movement which I do see this price decrease as a major correction which I'm not really surprised on seeing these prices again. I have chosen 8k usd on possible price dip of bitcoin. We might even go more lower which we should really expect for it to happen anytime because price is being dictated on how do investors react on these price movements.

[Searing]

I am still in HODL mode. (stubborn skills that I seem have down, in spades).



But the last year BTC chart looks almost exactly like the doom/gloom bubble chart below we are all familiar with... (click on 1 year BTC link below and compare)


I'm





but I am struck by the 1-year chart for BTC and how it almost exactly looks like the above image of doom on this page



(sorry link only...but click on it, they almost look identical)

Looks like FULL OUT CAPITULATION FREE FALL, IMHO.



https://www.worldcoinindex.com/coin/bitcoin

(hit the 1 year button)


my only real hope on this is they say it is a 'cycle' thus it can come back and repeat if BTC and crypto revives....which is my long-term

(and likely risky) bet....otherwise I shall be known as a 'former crypto tulip farmer'

Capitulation free fall on the BTC 1 year chart indeed...me thinks....maybe in my 'bullish' mind...it maybe was a bubble? ya think?

[Searing]

Damn! I'm the OP and I want this thread to die.....jeez.....anyway here we are again, with the usual FUD below:



The FUD seems fierce today!

https://www.ccn.com/south-korean-officials-prohibited-holding-trading-cryptocurrency/

https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet

https://www.reuters.com/article/usa-sec-crypto/u-s-regulator-urges-registration-of-cryptocurrency-exchanges-idUSL2N1QP18O


As to myself, I think I jinxed crypto....sigh.....the karma of the Universe can't let me retire..it would throw the Universe on its head on such a puzzle...


1) On the one hand, have enough $$ to live on my lovely ghetto suburban lifestyle w/o issue...with traditional stocks and no debt...did not do so...still was working...

2) Then it became evident in 2017 I have enough crypto to (if had to panic sell) and live in the lovely ghetto suburban lifestyle w/o traditional investments above...still was working

3) When BTC went above 10k with other Alts also up....cracked like a walnut and retired on 1/14/18... want to go 3 years and live off crypto till I'm 66 years
   and then touch traditional investments and social security at full benefits...mining this year.....cash out alts next 2 years....BTC hoard safe

Well, maybe I jinxed the works...but that is the goal..thus riding waves...it is not like under any circumstances 'likely' I will do any worse

then my current ghetto suburban lifestyle that I had working...indeed.....this price keeps me from blowing crypto on retirement.....it is a cruel fate!

So the fickle, finger of FUD repeats itself!

[fabiorem]

But the last year BTC chart looks almost exactly like the doom/gloom bubble chart below we are all familiar with... (click on 1 year BTC link below and compare)

The take off looks like to be on 2 October. The bear trap is on 6 November. The "return to normal" is on 1 January. Now we are in the "return to mean" phase, but theres that hole in 19 February, which can be interpreted as a new bear trap.

If it would be the entire year, the price should be around $2500 now.

[exstasie]

It's probably time to think about selling the bounce if you weren't already stopped out. A confirmed lower high failure on the 4H chart will bring back previous targets in the $8,000s.

Two possibilities I'm seeing.

If buyers can form a local low here above the 2/25 bottom, then it's still possible we are in a bullish consolidation. There is a mode (per Tim West's TAM method) ~ $10,400. Bulls need to regain that level and defend a higher low on pullback before we can trigger a long signal. Here's a squiggle of what I mean:


If South Korea has anything to say about it, though..... new lows are probably coming. A measured move puts us back in the $8,000 area:


Good luck out there! I suspect most traders are getting chopped in both directions.

[Zicadis]

[/b]

As I speak bitcoin had drop of -5.22% and had a value of $9,982.42 right now, I really think this is as far as the dropping point for bitcoin goes and let's just say I really think the momentum is going back even though we are seeing a dip on the bitcoin value, Because my bet will be at $9000 mark value was the bitcoin bottom right now, so keep on holding and be patient.

not much of a change from this drop ($9,982) now its trading for about ~$9,800 and to be honest this is a temporal set back that will soon end and prices will start to climb back up. Its unfortunate some negative influences all happened almost at the same time as posted by Searing. But I expect markets to rebound hard asap

The FUD seems fierce today!

https://www.ccn.com/south-korean-officials-prohibited-holding-trading-cryptocurrency/

https://www.bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet

https://www.reuters.com/article/usa-sec-crypto/u-s-regulator-urges-registration-of-cryptocurrency-exchanges-idUSL2N1QP18O

[exstasie]

If buyers can form a local low here above the 2/25 bottom, then it's still possible we are in a bullish consolidation. There is a mode (per Tim West's TAM method) ~ $10,400. Bulls need to regain that level and defend a higher low on pullback before we can trigger a long signal. Here's a squiggle of what I mean:

Nice, bulls succeeded in forming a local bottom. So this pattern is still in play.

A strong close of today's daily candle in the $10,000s will yield a bullish hammer or dragonfly. Fingers crossed for that, the close is 16 hours away. That'll be a strong sign of a bottom, supporting the idea of bullish consolidation here in the $9,000-$12,000 range.

[gabmen]

But the last year BTC chart looks almost exactly like the doom/gloom bubble chart below we are all familiar with... (click on 1 year BTC link below and compare)

The take off looks like to be on 2 October. The bear trap is on 6 November. The "return to normal" is on 1 January. Now we are in the "return to mean" phase, but theres that hole in 19 February, which can be interpreted as a new bear trap.

If it would be the entire year, the price should be around $2500 now.

It can't exactly be the same as a year or a year or two ago of course. Certain happenings this year can drastically chanhe btc's course from repeating itself. What caused the movements last year aren't going to be the same as what will cause the movements now

[lili song]

I think bitcoin just drop down for a while not for long time, bitcoin can rise faster than last year.
If drop down the value around $3000 - $4000, in the investment I thing is a normal. Don't be panic, just wait and hold your bitcoin and you will see the profit. Good luck !

[Searing]

Well hopefully the next mt. gox trustee dump will not freak the market out..in that it will be a 'known' event..thus...not as much freakout..

while the BTC infrastructure digests such dumps...I doubt the mt. gox trustee is gonna stop..seems clueless or does not care about getting maximum

profits on liquidation..which would be 1) sell to exchanges that wish to buy directly in bid war...or 2) auction...

every time he dumps he just drives the price down for his clients ..again clueless...

[Harlot]

Well hopefully the next mt. gox trustee dump will not freak the market out..in that it will be a 'known' event..thus...not as much freakout..

while the BTC infrastructure digests such dumps...I doubt the mt. gox trustee is gonna stop..seems clueless or does not care about getting maximum

profits on liquidation..which would be 1) sell to exchanges that wish to buy directly in bid war...or 2) auction...

every time he dumps he just drives the price down for his clients ..again clueless...

Even if they don't freak out as much it will still has the same effect on making the prices to push down. If someone who is offloading their Bitcoins who has a considerable amount they can intentionally push the prices down as the effect of massive selling is still there, also panic sellers will still be there selling on the first price they see. The ripple effect as what I may call it in the market cannot be stop as we cannot be like other traders, they have plans of their own, and some of them including me is taking advantage of the panic.

[darkr]

But the last year BTC chart looks almost exactly like the doom/gloom bubble chart below we are all familiar with... (click on 1 year BTC link below and compare)

The take off looks like to be on 2 October. The bear trap is on 6 November. The "return to normal" is on 1 January. Now we are in the "return to mean" phase, but theres that hole in 19 February, which can be interpreted as a new bear trap.

If it would be the entire year, the price should be around $2500 now.

It can't exactly be the same as a year or a year or two ago of course. Certain happenings this year can drastically chanhe btc's course from repeating itself. What caused the movements last year aren't going to be the same as what will cause the movements now

Curious that some respondents are sure that Bitcoin price can fall up to 1000 and even lower. I do not even want to think what will happen to all BTC holders if it can come true. Suppose, the lowest possible point is 6 thousand.

[peter0425]

Well hopefully the next mt. gox trustee dump will not freak the market out..in that it will be a 'known' event..thus...not as much freakout..

while the BTC infrastructure digests such dumps...I doubt the mt. gox trustee is gonna stop..seems clueless or does not care about getting maximum

profits on liquidation..which would be 1) sell to exchanges that wish to buy directly in bid war...or 2) auction...

every time he dumps he just drives the price down for his clients ..again clueless...

There is an update that the Mt. Gox trustee can't dump any more unless their is a court order. And the next court order is in September so we might as well just stay relax for now.

However, it looks like the damage has been done because the market keeps falling and a lot has been panicking that even though there's no negative news around, a simply buy order will turn into a massive downfall.

Right now we are trading below $9K I don't know what drives or influence the market. And the only thing that we can do is to HoDL and have patience and don't be emotional.

[eann014]

I prefer not say cause nobody will definitely tell the right and exact details what will happen in bitcoin in the future. We are all just predicting and speculating. One thing is for sure. I don't lose bitcoin, I still win for the last time even if bitcoin will crash forever.
But hopefully bitcoin will still continue because it really helps a lot of people to earn bitcoin even inside our room.

[Searing]

Well hopefully the next mt. gox trustee dump will not freak the market out..in that it will be a 'known' event..thus...not as much freakout..

while the BTC infrastructure digests such dumps...I doubt the mt. gox trustee is gonna stop..seems clueless or does not care about getting maximum

profits on liquidation..which would be 1) sell to exchanges that wish to buy directly in bid war...or 2) auction...

every time he dumps he just drives the price down for his clients ..again clueless...

There is an update that the Mt. Gox trustee can't dump any more unless their is a court order. And the next court order is in September so we might as well just stay relax for now.

However, it looks like the damage has been done because the market keeps falling and a lot has been panicking that even though there's no negative news around, a simply buy order will turn into a massive downfall.

Right now we are trading below $9K I don't know what drives or influence the market. And the only thing that we can do is to HoDL and have patience and don't be emotional.

I read someplace that the mt. gox trustee can still liguidate...and the meeting this fall ..will be how to distribute this....I can't find my link....still looking...can you post

a link on what you read?

so much FUD on this...

[STT]

If buyers can form a local low here above the 2/25 bottom, then it's still possible we are in a bullish consolidation. There is a mode (per Tim West's TAM method) ~ $10,400. Bulls need to regain that level and defend a higher low on pullback before we can trigger a long signal. Here's a squiggle of what I mean:

Nice, bulls succeeded in forming a local bottom. So this pattern is still in play.

A strong close of today's daily candle in the $10,000s will yield a bullish hammer or dragonfly. Fingers crossed for that, the close is 16 hours away. That'll be a strong sign of a bottom, supporting the idea of bullish consolidation here in the $9,000-$12,000 range.

My basic take has us bouncing along a positive trendline.    Above there is a parallel upper band that is not absolute but generally Bitcoin has held this for almost a year now.      Its a fairly decent trend however  shorter term the price is still finding a more stable point and is not yet bullish


https://i.imgur.com/RDUo7te.png