Smile! There are no worst possible scenarios. We've already survived the worst!

[patispace]

Since December of last year until now, bitcoin has depreciated $10,500 and its price has reached the line of $9,500.

The only good news of this great drop is that it is impossible for the bitcoin price to fall as much as $10,500 again.

Therefore from this moment bitcoin only has two options: either grow a lot, or drop a bit, and both scenarios are quite favorable compared to the hard times we have suffered these last weeks.

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[just_Alice]

Since December of last year until now, bitcoin has depreciated $10,500 and its price has reached the line of $9,500.

The only good news of this great drop is that it is impossible for the bitcoin price to fall as much as $10,500 again.

Therefore from this moment bitcoin only has two options: either grow a lot, or drop a bit, and both scenarios are quite favorable compared to the hard times we have suffered these last weeks.

I'm entirely in agreement with you, for some time there might be minor fluctuations, but it shouldn't drop prominently, it is the bottom line now, like in 2014 - 2015: from $1K to ~ $200, but a couple of years later we could see rapid price increase. So now, eventually it must go up in price, it's just the matter of time. What are your predictions about BTC recovering its price?

[iwishicouldfly]

Nope, don't agree with you.  I think it's just as likely to go down to 6k than it is to go back up to 20k.  I've seen nothing that convinces me otherwise.  Your two scenarios are not the only scenarios, although pretty unlikely there's a non-negligible chance it could go even lower than 5k.  In short, anything can happen.  I'll wait to see some stability before buying more bitcoins.

[avikz]

Since December of last year until now, bitcoin has depreciated $10,500 and its price has reached the line of $9,500.

The only good news of this great drop is that it is impossible for the bitcoin price to fall as much as $10,500 again.

Therefore from this moment bitcoin only has two options: either grow a lot, or drop a bit, and both scenarios are quite favorable compared to the hard times we have suffered these last weeks.

I would contradict with your thoughts because I don't feel the same way. It is not impossible for bitcoin go down to 5k level or go up to 25k level. If countries like India or South Korea bans bitcoin, its price will go down to the lowest possible level which we can't quantify at this point of time. On the other hand, if we they are legalizing it, the price will go up exponentially. So anything and everything can happen and the worst is not over yet.

Even I am optimistic about bitcoin and I also have a good amount invested in it, but I can't see a very rosy picture about bitcoin now. Unless we solve the network scaling issue, I don't see it going to the previous level again. Instead it can go down further.

[pooya87]

meh, you know what? i stopped worrying about bitcoin price a couple of days ago. i cashed out of the market (withdrew my bitcoins out to cold storage) and stopped thinking about what will happen and stopped trying to make profit. i stopped trading altcoins too because when bitcoin is unpredictable they become unpredictable too.
now i am happy with my coins in safety of a cold storage. i will just buy more if i had any spare money in the near future and will wait until movements become more logical rather than irrational panic sells.

[stronghands4lyfe]

A positive light to view the markets in, not standard but I like the idea . While I do tend to agree the worst of it is over I was never worried through this run because it had to end sometime and going through the run last July where coins lost 80-90% their value nothing seems as bad as that. Not saying I wish this of course but I have some back bone to bend on and it feels nice to not panic!

[djpitagora]

Since December of last year until now, bitcoin has depreciated $10,500 and its price has reached the line of $9,500.

The only good news of this great drop is that it is impossible for the bitcoin price to fall as much as $10,500 again.

Therefore from this moment bitcoin only has two options: either grow a lot, or drop a bit, and both scenarios are quite favorable compared to the hard times we have suffered these last weeks.

I'm entirely in agreement with you, for some time there might be minor fluctuations, but it shouldn't drop prominently, it is the bottom line now, like in 2014 - 2015: from $1K to ~ $200, but a couple of years later we could see rapid price increase. So now, eventually it must go up in price, it's just the matter of time. What are your predictions about BTC recovering its price?

there is only one problem with that reasoning. In 2014-2015 when it went back up we were in full economic recovery. There is a very high chance of recession in 1-2 years max. Already when I look around I see the first signs of that: companies have borrowed to their limits and the banks are cutting on lending.

[fabiorem]

meh, you know what? i stopped worrying about bitcoin price a couple of days ago. i cashed out of the market (withdrew my bitcoins out to cold storage) and stopped thinking about what will happen and stopped trying to make profit. i stopped trading altcoins too because when bitcoin is unpredictable they become unpredictable too.
now i am happy with my coins in safety of a cold storage. i will just buy more if i had any spare money in the near future and will wait until movements become more logical rather than irrational panic sells.

We have to go long and stop thinking about it for some time.

We all rejoiced back in august at 3k and october at 5k. Its bad to see everything dropping back and threatening those levels.

Curiously, august was the month of the bcash fork, and october of the bgold fork. Maybe we need a new professional fork to spike the price up? Or a new Roger Ver to make some drama?

[Idrisu]

I don't think bitcoin is passing through the worst conditions and I always saying that this market is highly unpredictable. This is a sign that bitcoin is not a market that can be control by few  people but it has it own personal emotions and it react to the world events.
We expect a bance back in March as it has been happening every year. January has never been good in the history of bitcoin and we should not expect this year to be different.

[topper26]

title of this thread is WRONG
We are dropping below 9K real quick

[Wilhelm]

title of this thread is WRONG
We are dropping below 9K real quick

9240 now ... where you looking at 

[topper26]

price has been really dropping, just a hunch, keep reading many sources, looking at tons of charts, many predict sub 8k even!

[onecall123]

Yes, I understood in the past. Too much FUD and possible regulation from various governments possibly reason market driving backwards massively rather upwards. Until no point going up, but buys the dip and waiting the bounce.

[fabiorem]

I was believing it was FUD too, but really, I'm starting to think all this crash is being provoked by a single whale.

when whales want to dump, they stack the bid side to feign buy support, then have bots auto-remove the bids when the dumps get close

This is a very likely scenario. The whale is dumping and faking buy walls at lower prices. People are falling to his lure and panic-selling in their turn. It becomes a snowball.

[Yurkov]

I was believing it was FUD too, but really, I'm starting to think all this crash is being provoked by a single whale.

This happens after the news that Facebook will ban the promotion of cryptocurrencies and ICO. Besides, Bitfinex and Tether were requested from the CFTC, and proceedings are pending against them.

[dothebeats]

Well you forgot to include one more, dropped hard until it meets the resistance level @ $4000, which I think is still a pretty probable descent given the amount of negative news that aired very recently surrounding bitcoin. Still won't put my hopes up regarding any increases this month or even in the next month as the market's overall mood turns into complete bearish.

I was believing it was FUD too, but really, I'm starting to think all this crash is being provoked by a single whale.

This happens after the news that Facebook will ban the promotion of cryptocurrencies and ICO. Besides, Bitfinex and Tether were requested from the CFTC, and proceedings are pending against them.

Yep, it only added to the flame, and I don't think whales are commanding the dullness of the market but rather are only playing with what's in the table currently. For those who bought @ @$15000>, you guys might be kicking yourselves right now. We'll see a huge number of bagholders, and I think that insane pushes will occur again once these whales drained the bagholders off of their cheap bitcoins.

[bitcoinvamp]

Since December of last year until now, bitcoin has depreciated $10,500 and its price has reached the line of $9,500.

The only good news of this great drop is that it is impossible for the bitcoin price to fall as much as $10,500 again.

Therefore from this moment bitcoin only has two options: either grow a lot, or drop a bit, and both scenarios are quite favorable compared to the hard times we have suffered these last weeks.

Yeah i think you are right on this bitcoin would now have to start to increase and it will because if we see the old stats of past years it is obvious that the price drops every year as we know bitcoin has always been volatile and no one can change that so rise and drop is just the part of bitcoin. It has dropped to the least it could go now it will rise and cover the drop in very less time. This is what i think but still can't say anything with 100% surety .

[drachman]

Nope, don't agree with you.  I think it's just as likely to go down to 6k than it is to go back up to 20k.  I've seen nothing that convinces me otherwise.  Your two scenarios are not the only scenarios, although pretty unlikely there's a non-negligible chance it could go even lower than 5k.  In short, anything can happen.  I'll wait to see some stability before buying more bitcoins.

Anything can happen but why are you going to wait even more,  you can get bitcoin for 9k that is good enough, I know that is better to buy at the absolute bottom of a market but to predict the exact bottom is difficult you need to set a price in which you think is good enough for you to buy, if 9k is not enough for you then what kind of price are you waiting for?

[iwishicouldfly]

Nope, don't agree with you.  I think it's just as likely to go down to 6k than it is to go back up to 20k.  I've seen nothing that convinces me otherwise.  Your two scenarios are not the only scenarios, although pretty unlikely there's a non-negligible chance it could go even lower than 5k.  In short, anything can happen.  I'll wait to see some stability before buying more bitcoins.

Anything can happen but why are you going to wait even more,  you can get bitcoin for 9k that is good enough, I know that is better to buy at the absolute bottom of a market but to predict the exact bottom is difficult you need to set a price in which you think is good enough for you to buy, if 9k is not enough for you then what kind of price are you waiting for?

I'm not waiting for a price I'm waiting for stabilisation. Even if it means I don't get as much profit, it means I'm far less at risk of losing money.

[goaldigger]

Id likely think more optimistic like you do but somehownyou have a point also. Ive heard that there are a senario where bitcoins price drops super low on the past 4 years I think and increased totally last year. So if it is the bottom drop, the only movement is to increase or go back to the margin.