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Author Topic: do you think bitcoin will go back to 6000? should i sell now?  (Read 709 times)
cryhavoc38
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February 03, 2018, 08:50:35 AM
 #21

It depends: (1) what is your average price?; and (2) how much does this investment represent in your total savings/portfolio?

Answering your question: no, I don't believe BTC will touch the 6,000 level

Unfortunately, I see btc hitting 6k within the next couple weeks.
At least momentarily it will, then it will establish a new line in the mid 7k range, then another week, we will see it dip to the 5k range.

The issue with the price fall is that the market is there to short BTC hard.
Those who are shorting btc, especially since the futures market was opened up, are booking some serious profits.

Most in this game are day trading it. buying and selling making some good cash on the daily rise and fall.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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February 03, 2018, 08:53:26 AM
 #22

I think so, because now almost everyone is still calm.
So I think it's going to fall further, but I suggest you don't sell bitcoin, because when it goes up, you probably won't buy it again.

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February 03, 2018, 08:57:02 AM
 #23

There's something people didn't understand. Traditional graphics doesn't work for bitcoin (usually). I think no one can know where it goes. There are just personal opinions. In my opinion bitcoin will hit 100k dollars someday in future. Of course it can drop to 5k even 3k. But I believe in bitcoin and blockchain technology. So I don't sell. I think the real question you have to ask yourself is "what's my opinion?"
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February 03, 2018, 09:32:10 AM
 #24

I see this bad condition will end in June or July 2018, meaning that the crypto world will be back to normal again at that time. so there is still the possibility of bitcoin prices going down to the point of $ 6000, even very likely going down to the point of $ 4500.
do not sell now, but better buy more or hold. So, there are only 2 options.

Yeah I don't see anything good anytime soon, it will probably take many months.

Well, my analysis there:
https://bitcointalk.org/index.php?topic=2873358.0

The main thing to think of: -who- will buy BTC above 12k? You need new blood for that, veteran investors will not risk it. And the new blood, well the BTC just got its chance, blew it, it will take time for the confidence to return to the general public who is more than needed for the price to reach 20k again, I believe.

Perhaps one day many investors will come from the classic shares market to BTC, and well, -perhaps- now is the right time for those, but frankly I think the crypto world will need to be a lot more stable for that.
If BTC now takes a whole year to reach 12k, then yes I can imagine it continuing to grow (slowly). But do you see this happening? I believe that if BTC "only" goes up to 12k by the end of the year, many will have sold in-between, or have moved to ALTs.


While I knew BTC for a long time, I would never have risked putting my money in it. That, until a few months ago when it reached 3k$. By the time my bank transfer arrived to the exchange, it had already pumped to 4500. And you know what, I still bought. Because I was a newcomer, because I wanted to take my chance. I was the idiot, like the ones needed for prices to pump. Quick rise to 3k, then 4.5k, who already in the community would have bought? No one. Only newcomers do.
So that's the question, who will those newcomers be now. Perhaps those who are wise enough & didn't dare to buy at 20k, but if it does one more parabolic rise & dump again, it will be over for those too.
Gamblers will always be part of it, though. And well, crypto is a fun game afterall, and you still have less chances to be fucked than in a casino.
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February 03, 2018, 09:47:26 AM
 #25

do you think it is going to 6000?


I don't recommend to sell it at this time. but all decisions are on your hands. all speculation is always at risk
I think bitcoin will be able to go back to normal and slowly increase. yes, this is the result of the 2017 correction, so it's natural if the market is currently down.

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February 03, 2018, 09:56:22 AM
 #26

That's proof of bitcoin not being healthy. Good currency circulates well. Bitcoin not. Something went totally wrong with Satoshi idea.
So there should be bitcoin community tax put on hoarders otherwise bitcoin will not be good crypto. Like tax on land which is hoarded for speculation and not being used properly.
So if you have address and spend your bitcoins regularly you will have no community tax.
But if you do not spend from more tahn 1 year , your bitcoin value should be gradually  decreaed to give you incentive to spend your bitcoins and help bitcoin world community grow.
Fantastic!


How would the market price of BTC react if there was some 'tax' applied like this to discourage investors? I believe that it would crash even further. How would such a tax be applied, and who would apply it if BTC is decentralised? Where would the tax funds go to?

I don't think this is a feasible idea.
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February 03, 2018, 09:57:19 AM
 #27

There's something people didn't understand. Traditional graphics doesn't work for bitcoin (usually). I think no one can know where it goes.

I 100% agree.
I like to watch Tone Vays because he's entertaining and he seems passionate about what he does. But he's really full of shit when he does his pointless analysis. And when he ever predicts right, it's because he actually has enough influence to change the market.


There are just personal opinions. In my opinion bitcoin will hit 100k dollars someday in future. Of course it can drop to 5k even 3k. But I believe in bitcoin and blockchain technology. So I don't sell. I think the real question you have to ask yourself is "what's my opinion?"

That's where I don't agree. Well first, blockchain isn't just BTC - which is btw the reason I sold a few of my BTC, I'm holding way more ALTs now, I had too many BTCs (which I only value like gold, but gold needs confidence).
As a programmer, I admire that it works, and I think it can have many uses. But not nearly as many as people think. Remember when the .com craze started, people were valuing shitty "cooking receipies" websites at crazy prices.

Also, I believe people put too much money on what are just -concepts- right now. I'm not surprised about it, because well, Kickstarter. The only coin that I valued when I got in, was REP, because Augur was close to being an actual app, for which on top of it profits do make sense (even though they make sense in ETH, not really REP, but that's another story).
A decentralized casino, a decentralized exchange? Hell yeah, that'd have advantages. A decentralized reduction coupon system for some brand? Well, give me a reason for that to need to be decentralized.
Decentralized currency? Sure, not really for us who are already used to pay instantly, using stable fiat, but for some countries, or fraudsters, yes. Question is, why should it be Bitcoin? Technically, I don't see why. I do see the trust, and that's the reason I invested in it in the first place, but it looks fragile, when you see so many peole leaving the boat instantly.
I don't think that blockchain & decentralization have that many uses. But if Bitcoin's technology has that much of an advance, I'd like to see where exactly. It has support, definitely. As a currency? Well it needs miners, while, as a programmer, my ideal decentralized currency would need no miners, at least not to verify transactions. In a system of *actually* used currency, it's people doing transactions who can also verify them.

Also, as a programmer, I would never value so much v1 of something. BTC is v1. It will forever be in history books. It's amazing that it worked/works, and paved the way for the future. BUT I'm a programmer, v1 is always far from the best. Sometimes you can patch things for years and still improve it. But really, often you just need to rewrite things. I don't think that BTC is "the best" because it was the first, I think the opposite.

Yet, I don't even believe this matters at all. People are there for money, they don't care about technology. XRP was pumped to second place, and it's not even decentralized. BCH was pumped to second place, and it's a copy/paste scam. People go where the money is, it's that simple.
Long-time hodlers sure care about technology, but here too, beware, there is always a new challenger to improve on your coin of choice, and make it worthless. ETH vs NEO? Who knows which one will win, if both, or any, will survive? Apps on the blockchain, totally. But using which technology? Perhaps not even one started yet. Sadly one can't simply invest "in blockchain".
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February 03, 2018, 10:06:15 AM
 #28

That's proof of bitcoin not being healthy. Good currency circulates well. Bitcoin not. Something went totally wrong with Satoshi idea.
So there should be bitcoin community tax put on hoarders otherwise bitcoin will not be good crypto. Like tax on land which is hoarded for speculation and not being used properly.
So if you have address and spend your bitcoins regularly you will have no community tax.
But if you do not spend from more tahn 1 year , your bitcoin value should be gradually  decreaed to give you incentive to spend your bitcoins and help bitcoin world community grow.
Fantastic!


How would the market price of BTC react if there was some 'tax' applied like this to discourage investors? I believe that it would crash even further. How would such a tax be applied, and who would apply it if BTC is decentralised? Where would the tax funds go to?

I don't think this is a feasible idea.

I don't think it's the BTC concept that's wrong anyway. The problem is the way to mass adoption. It needs to be adopted by a lot of people to be stable enough.

Also the problem that, and it will be true this time again, after a crash the money (well, BTC) goes from the many weak hands to the few strong hands, isn't helping mass adoption.

I think a solution would be to, for many years or even decades, limit the amount of BTC that one person can hold. But, with it based on anonymous addresses, I don't see how you'd achieve that. But if you managed to initially limit the amount of coins one could hold, it would probably go to everyone quickly, without as much pumping, it would get a chance to actually be used.

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February 03, 2018, 10:10:08 AM
 #29

I don't recommend to sell it at this time. but all decisions are on your hands. all speculation is always at risk
I think bitcoin will be able to go back to normal and slowly increase.


I too think it's gonna slowly increase, but the question is who will keep investing in a crypto that "just" slowly increases? Knowing the risks, that is. If the BTC keeps just slowly increases, I predict people will quickly move to ALTs, and then BTC crashes again.
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February 03, 2018, 10:12:08 AM
 #30

It depends: (1) what is your average price?; and (2) how much does this investment represent in your total savings/portfolio?

Answering your question: no, I don't believe BTC will touch the 6,000 level

Unfortunately, I see btc hitting 6k within the next couple weeks.
At least momentarily it will, then it will establish a new line in the mid 7k range, then another week, we will see it dip to the 5k range.

The issue with the price fall is that the market is there to short BTC hard.
Those who are shorting btc, especially since the futures market was opened up, are booking some serious profits.

Most in this game are day trading it. buying and selling making some good cash on the daily rise and fall.

The price of bitcoin has experienced some ups and downs in the recent period. At what price to sell bitcoin to see personal investment philosophy.
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February 03, 2018, 10:16:56 AM
 #31

We just have to wait till next tuesday after the US authorities hearing on Bitfinex and Tether. If the authorities find Bitfinex has pumped the price of Bitcoin with Tether, then the price will drop to 5 or 6K. But when this is all over bitcoin will increase, because many people who missed out will step in and buy large numbers of bitcoin. So, better do not sell.

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February 03, 2018, 10:21:36 AM
 #32

No one can exactly tell about it but i think in coming months the price will definitely increase. So keep holding your coins and sell after few months.

rose8963
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February 03, 2018, 10:28:14 AM
 #33

It is difficult to assess the crypto market at this time in terms of price. I think bitcoin can repeat the cycle as it did in 2017. I think the price could hit bottom $ 6000 or lower. Will it then boom again? There are only 2 options, sell or buy and hold it. I personally added a few altcoins to myself a few days ago. I am still considering investing in the upcoming bitcoin.
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February 03, 2018, 10:43:06 AM
 #34

in the world of cryptocurrency many possibilities can happen. Bitcoin is currently $ 8000 to reach $ 6000 it may just happen even more than that. one of the reasons that many people are just getting to know bitcoin panic at a steadily declining price and selling it. I hope for the beginner to be patient and do not panic because the panic will actually lead to worsening market prices.
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February 03, 2018, 10:46:24 AM
 #35

in the world of cryptocurrency many possibilities can happen. Bitcoin is currently $ 8000 to reach $ 6000 it may just happen even more than that. one of the reasons that many people are just getting to know bitcoin panic at a steadily declining price and selling it. I hope for the beginner to be patient and do not panic because the panic will actually lead to worsening market prices.
No o e knows exactly that whether it will touch 6k figure or not but selling your bitcoin is the worst option now a days and you will surely get loss so just hold because one day or the other it will boost up and on that day you will surely get much better profit.
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February 03, 2018, 11:15:23 AM
 #36

This is possible .. Bitcoin is likely to fall to 6000. At present, bitcoin prices are falling sharply. It seems many sell it. but please do not. Please be patient . Bitcoin will soon recover. I will not sell my bitcoin. I will wait until its value reaches its best

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February 03, 2018, 11:16:59 AM
 #37

I guess it's not that easy maybe this is the last decline of bitcoin then after that it will be stable and many predict the month of March will go up as year previous year

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February 03, 2018, 11:19:56 AM
 #38

do you think it is going to 6000?

I don't think it will go down to 6k usd until it will ho back to its high price again. this is bot the biggest dip in bitcoin. don't sell your bitcoin you will regret later. wait for such time that bitcoin will go back to its price which is higher that what the price now is. So hang on and wait a little bit. Hopefully this will end sooner.


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Kloug
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February 03, 2018, 11:31:58 AM
 #39

I guess it's not that easy maybe this is the last decline of bitcoin then after that it will be stable and many predict the month of March will go up as year previous year

That will totally depend on the outcome of the USDT case. I can understand price stopped dropping while we don't know yet, but what do you think will happen?

-USDT is legit? Instant pump (most likely before I have the time to react. I sold half of my BTCs, so if that happens I'm a bit screwed. Well not really because I still made a profit, but I intended to hodl them all)

-USDT is a scam? Instant dump, perhaps as bad as the ones caused by MtGox.
In a short time it will probably pump because people will wanna quickly get rid of their USDT, then move what they just bought to another exchanged not backed by USDT, dump there for real fiat & transfer to their bank.
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February 03, 2018, 11:35:23 AM
 #40

I think so, because now almost everyone is still calm.
So I think it's going to fall further, but I suggest you don't sell bitcoin, because when it goes up, you probably won't buy it again.

You wish so because you don't have bitcoin? If you are waiting btc to come down to 6k to buy you might wait till forever. I believe 8000-9000 usd levels are very good to get in as it is fibonacci retracement level.
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