Is 7K the right price to buy in at a bottom price?

[AICoin_Official]

Price of BTC is $7,661 in Bitfinex, is it reasonable to buy at 7K or price will go lower? I almost lose my patience.

Still, i have an original price analysis from Kaung Ren, a Chinese analyst, to share with you, please feel free to leave your comments below:

Price is expected to continue oscillating downwards along with MA 5 after breaking below $8,500 last night. However, rally can be used to play the segment after dipping far below MA 5, you can also dump your chips when price moves back above MA 5.

Apart from the extremely weak performance in price move during the last 2 sessions, BTC also shows no signs of expansion in volumes at bottom price. Even though the arrow as marked serves as a support, nobody knows exactly where price is heading for when price continues moving downwards along with MA 5. If you bought around $18,000, there’s no more reason to be afraid.

Original by Kuang Ren, translated by AICoin Jami.

Check the full-version analysis here: https://www.aicoin.net.cn/article/12960.html

[Tzupy]

A local bottom might be reached in 4 - 6 hours from now, so it might be a good entry for a short term trade.

[sjefdeklerk]

Ok let me give you the standard answers:

* It's a great time to buy more! If you have some money left, buy more here!
* This tank was to be expected
* It's only FUD
* It's because of Christmas !!

[TeeBone]

A local bottom might be reached in 4 - 6 hours from now, so it might be a good entry for a short term trade.

You still a perma-bear ?

[alyssa85]

Nobody can call the bottom. So instead of investing your entire wad, drip feed it in, buying a little every week. That way, if the prices trend downwards, you'll be protected from a huge loss (you'll just have a small loss from your early buys).

[jimbo2000]

Price of BTC is $7,661 in Bitfinex, is it reasonable to buy at 7K or price will go lower? I almost lose my patience.

Still, i have an original price analysis from Kaung Ren, a Chinese analyst, to share with you, please feel free to leave your comments below:

Price is expected to continue oscillating downwards along with MA 5 after breaking below $8,500 last night. However, rally can be used to play the segment after dipping far below MA 5, you can also dump your chips when price moves back above MA 5.

Apart from the extremely weak performance in price move during the last 2 sessions, BTC also shows no signs of expansion in volumes at bottom price. Even though the arrow as marked serves as a support, nobody knows exactly where price is heading for when price continues moving downwards along with MA 5. If you bought around $18,000, there’s no more reason to be afraid.

Original by Kuang Ren, translated by AICoin Jami.

Check the full-version analysis here: https://www.aicoin.net.cn/article/12960.html

I've suspected it before at 10k and 9k and then 8k so it's risky to say we're at the bottom but the only real reasons we keep falling is because we can't go 2 days without another load of bad news and the subsequent FUD that comes with it. Once we have a quiet week then the money will start to flow back in, most buyers will wait for a 10-20% recovery before really piling in. At least that's my expectation.

[Tzupy]

A local bottom might be reached in 4 - 6 hours from now, so it might be a good entry for a short term trade.

You still a perma-bear ?

If I were a perma-bear I would say: "There is no bottom!" 
About the final bottom, IMO we'll (or at least I will) recognize it when 24h MACD will cross into positive, following a couple of weeks of strong buys.
But so far 24h MACD is deep into the red, so we are still months away from the final bottom.

[arnbrd]

I would say yes for two reasons. We are almost at the bottom of where we can go, and also price will be much more higher in the future months, so even if you buy now, that it drops to 6k, think that it will go at least to 20k by next year. That is how a trader should think.

[bitcad4u]

A local bottom might be reached in 4 - 6 hours from now, so it might be a good entry for a short term trade.

The price may reach the bottom most stable point very soon.If you have a idea to inverse in bitcoin for short term profit means ,this will the perfect time.Tomorrow the price may reach to the lower limit of 6500$,this will be the lowest price of past two months.The price of bitcoin will reach 15,000$ on 18th February,so you will get good profit soon.

[richardsNY]

Ignore bottoms. Just buy whenever you can on the way down. People have constantly been looking at charts and analysis to conclude that $10k was the bottom, and it wasn't. Then it was $9, and then $8, and now $7, and soon we'll see the market keep falling down even below $7k. I managed to buy myself some coins around $7300 and will execute another buy action as soon as we near $6k (obviously assuming it will fall down deeper). I am however sure that we're not far away from an oversold market, so if anyone plans to buy, do it quickly -- the market doesn't wait for you to pull the trigger, that's a fact.

[SHAWN-MIDWAYS]

Ok let me give you the standard answers:

* It's a great time to buy more! If you have some money left, buy more here!
* This tank was to be expected
* It's only FUD
* It's because of Christmas !!

I agree with you, the price usually tanks today Christmas and the start of the new year now that these have passed price will start to recover and  IMHO this should be a good time to buy some more coins.

[arpon11]

The bottom is very close and it might just happened today or tomorrow as most of the weak hand has already sold they coins.  I think the current holders are those that believe in bitcoin and not those that are in cryptocurrency just to make profits from it.  Nerveless I think the bottom may be around $6,000 or maybe a little bit above that! The 200ma maybe the the support and resistance level that may determined the next price movement.

[gentlemand]

I don't think we've even brushed our botty yet. This has been so rapid that people haven't really had the time to digest. This isn't how true manias end. It takes much, much longer and gloom turns to utter boredom. You can't pull that off in a few days.

Those who'll sell may not have gotten around to it yet. I'd guess that $3000 or slightly below is conceivable. Or the whole thing will reignite and this has been a heavy blip.  

Either option tells us that this price isn't anywhere near a definitive one.

[Tzupy]

A local bottom might be reached in 4 - 6 hours from now, so it might be a good entry for a short term trade.

Looks like a local bottom to me, but it went a bit lower than I expected.

[fabiorem]

Put your order around $4100-4500. This is the mining cost for bitcoin blocks.

If it go below there, my guess is there will be a complete shutdown of the network. Nobody will be able to trade as there will be no miner to validate the transactions. Of course, I'm just speculating. If anybody have any information about it, feel free to share.

[gentlemand]

Put your order around $4100-4500. This is the mining cost for bitcoin blocks.

If it go below there, my guess is there will be a complete shutdown of the network. Nobody will be able to trade as there will be no miner to validate the transactions. Of course, I'm just speculating. If anybody have any information about it, feel free to share.

That's a tad drama queeny. I'm sure during 2014/15 there were periods where it was barely worth bothering. The big operations would be well capitalised enough to account for fallow periods.

As ever, if enough miners clear off it becomes cheap enough to mine to attract others after a sluggish period of readjustment.

[vit05]

No one knows the price that people will be willing to pay tomorrow. But today, anyone who buys is probably imagining the price they can sell in two or more weeks. And that price will be at least double from today. The great and dreadful crash of Tether occurred and the market still exists. The only way is up.

[eann014]

I think $7k is not the right price to buy, maybe it will go down more, mayne $4k or $3k will be the lowest price of bitcoin. After bitcoin touch new ATH, we are now experiencing hardly drop of bitcoin and I don't know if that is still normal.

[BitMaxz]

Not good if you buy under $5k the price was too low and the price was hit almost $6,600 today and i think this is the bottom price of bitcoin..
If you still wait maybe sooner or later the price increase a bit and stay..
After the drop happen today expect that you will heard a good news about china and india about regulation in bitcoin. that can push the price of bitcoin up again..
What i see right now people are panic selling.. they are likely exit in bitcoin investment which is they don't know that this is always happening in bitcoin that the price always falling and gaining back again in few months just like years ago still never change until now..
So if you keep holding bitcoin make sure that you are always ready and hold them tightly and much better to do if you can invest more bitcoin better to buy right now because the price will increase back after bitcoin reach at the bottom. .

[Viper1]

Despite there being more hype and thus more people flowing into bitcoin now, this situation is no different than the previous ATH a few years ago. Based on how that played out (people flowed in and then out when the price started dropping) and in the absence of anything "big" occurring, bitcoin will most likely follow the same trend and keep dropping over the period of maybe a year until it reaches something like 400-600... When's the next halving? That will play a factor in bitcoins price as well.