BTC slumps again, is it heading for 6K or lower prices?

[AICoin_Official]

BTC bounces with weak strength at current level, bulls also show weak momentum to push price up, bears, however, are taking a rest after a continuous downtrend.

Judging by current price action, my analysis that BTC will consolidate around current price without any major rally stays the same.

Moreover, no one will dump their chips unless there are major bearish news waiting ahead, making it very likely for price to continue dipping after a repeated oscillation pattern.

Besides, once BTC dips below the floor at $8,500, price holds great chances to move towards $6,000 or even break below it. Being cautious is still recommended.

Original by Kuang Ren, translated by AICoin Jami.

Full version: https://www.aicoin.net.cn/article/17114.html

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[BitHodler]

As long as $8,370 holds, and it did almost a week ago, then we'll be up for another bounce back to potentially the $10,000 mark. If it breaks, then sub $8000 is almost a certainty, and that would indicate a lower demand.

I don't see the market dip under the previous bottom, because that would actually be somewhat worrying. It means that a long term cycle has been broken where the price never dipped below it previous bottom.

I am comfortably hodling my coins, and will continue doing so. I however will use the decreasing market to accumulate as many coins as possible within my financial reach, so there is not much to complain about for me.

I think it's safe to say that the mtgox dumpings might play an important role when it comes to the lower demand, and that sucks. It's a shame that mtgox even in today's world manages to impact the market negatively.

[Kemarit]

Yeah, we are still not out of the Mt. Gox ghost from the past and it has somewhat an impact to the current price. As far as I know, the price is holding above $8000 and its very strong. We have been bouncing around $8800-$9200 but I don't think that it will go lower than that unless something of another FUD that will make the price dip to almost the last bottom that we have witnessed ($5500-$6000). But then we all know what we gonna do if we breach $6000, time to buy more coins so better prepare you funds right now just in case. In any case, I will not be that stupid to dump by coins, I will prefer to hold and look at it the bright side. We have been in much worst situation before but eventually get up and see the light at the end of the tunnel.

[lotfiuser]

bitcoin  has become worst tahn gambling we need more investors more money to get higher price cuz all investor are just trying to get there money back and leave crypto

[Slash61]

With the condition of bitcoin now, the tendency of some traders do not want the benefits doubled. They do not want to lose many times, provided there is a profit even if little they will sell. And as a result of little demand, trigger bitcoin continues to decline and only a few bumps.

[iram1011]

BTC bounces with weak strength at current level, bulls also show weak momentum to push price up, bears, however, are taking a rest after a continuous downtrend.

Judging by current price action, my analysis that BTC will consolidate around current price without any major rally stays the same.

Moreover, no one will dump their chips unless there are major bearish news waiting ahead, making it very likely for price to continue dipping after a repeated oscillation pattern.

Besides, once BTC dips below the floor at $8,500, price holds great chances to move towards $6,000 or even break below it. Being cautious is still recommended.

Original by Kuang Ren, translated by AICoin Jami.

Full version: https://www.aicoin.net.cn/article/17114.html

The g20 summit is on 19-20 March and market sentiments are negative. People are expecting tighter regulations and even a ban. Always be cautious on news related events. Dump is usually hard at these times. Some more negative news are in the market like Google banning cryptocurrency ads, South Korea seizing 3 major exchange accounts are adding up to the fud. Thus, Bitcoin will most probably follow the bearish cycle with next major support level being $6k.

[alyssa85]

As long as $8,370 holds, and it did almost a week ago, then we'll be up for another bounce back to potentially the $10,000 mark. If it breaks, then sub $8000 is almost a certainty, and that would indicate a lower demand.

I don't see the market dip under the previous bottom, because that would actually be somewhat worrying. It means that a long term cycle has been broken where the price never dipped below it previous bottom.

I am comfortably hodling my coins, and will continue doing so. I however will use the decreasing market to accumulate as many coins as possible within my financial reach, so there is not much to complain about for me.

You might want to put buy orders at the $6000 mark. We may get a quick flash crash where it dips below $8370 - and those who have their orders in advance will be the ones to benefit.

[1Referee]

bitcoin  has become worst tahn gambling we need more investors more money to get higher price cuz all investor are just trying to get there money back and leave crypto

Worse than gambling? Not sure if you know the actual difference (probably not), but with gambling you lose everything when you go wrong, with Bitcoin you don't actually lose anything. If you consider the fiat value of your investment going down to be the same as losing, you're just too fiat centric. Investors need a bullish trigger in a market so focused at speculation and hype, and without that bullish trigger, we'll likely be up for even lower prices. Segwit adoption isn't enough, future markets have turned out to be a gimmick, etc. Now the speculation aspect is slowly fading, we will soon see what's left of the price, and that price will turn out to be a fair reflection of the market. People expecting a moon rocket launch soon will face heavy disappointment, that's for sure.

[haroldtee]

Well, let's hope the $8500 region holds. This is going to be the third time we are going to be testing it now and I am sure every trader is trying to watch out for the price action in that region and technically, I do not see any volume or bull power to help with that so far, so I always like to keep some 'MAYBE(s)' aside at times like this.

If we bounce back from there, this may be a moment of consolidation and maybe time to play with some alts, however, the pattern being formed since the start of the correction from $11,700 and the last two test of this region still gives some form of bear flag as well as a lot of mixed feelings in the market. Let's see how the next few hours is going to be playing out, but if we break past that, I am sure breaking my buy orders from $7000 down to $6000.

[Pursuer]

whenever the gates of FUD opens, there is more and more FUD coming out of it every minute and  with each of them, the market reacts big time and price drops a little more. and it seems to me that the market makers are currently deciding that this current price action is more beneficial for them so here we go again! more drops, more FUD, more panics, more shakeouts...

the worst part is that we may see a huge rally with price shooting up to the moon after this phase ended, instead of a smooth and solid rise.

[markj113]

bitcoin  has become worst tahn gambling we need more investors more money to get higher price cuz all investor are just trying to get there money back and leave crypto

You make BTC sound like a ponzi 

[owengtam09]

I guess the average price of bitcoin this year would be around $6k to $14k, and if bitcoin price will go lower then for me it will touch down to $6k, and if bitcoin price will rise then it will rise not more than $14k. I am not saying that I can tell everything, this is only my prediction that I think can possibly happen this year.

[gatti]

It's not possible to move to 6000$.Still now the price of bitcoin is stable at 8000$,so no worry for the holders.They will get some dollars in their hand if they hold.They have to hold the bitcoin with patience for the profit.

[cryptokwuk]

It will only go lower and lower.
Bitcoin offers NOTHING.
It's SLOW!
It DOESN't SCALE!
It's EXPENSIVE!
It's an ENVIRONMENTAL DISASTER!
It's NOT PRIVATE!
It's been HIJACKED BY COMMERCIAL CORPORATION Blockstream!

Better invest in real scalable secure green solutions!

[Pursuer]

...
Better invest in real scalable secure green solutions!

so far your "real" blah blah solutions are getting dumped hard too:


you can keep on keeping your head in the sand and bag hold all these shitcoins, nobody is stopping you to throw your money away

[Bardman]

BTC bounces with weak strength at current level, bulls also show weak momentum to push price up, bears, however, are taking a rest after a continuous downtrend.

Judging by current price action, my analysis that BTC will consolidate around current price without any major rally stays the same.

Moreover, no one will dump their chips unless there are major bearish news waiting ahead, making it very likely for price to continue dipping after a repeated oscillation pattern.

Besides, once BTC dips below the floor at $8,500, price holds great chances to move towards $6,000 or even break below it. Being cautious is still recommended.

Original by Kuang Ren, translated by AICoin Jami.

Full version: https://www.aicoin.net.cn/article/17114.html

The g20 summit is on 19-20 March and market sentiments are negative. People are expecting tighter regulations and even a ban. Always be cautious on news related events. Dump is usually hard at these times. Some more negative news are in the market like Google banning cryptocurrency ads, South Korea seizing 3 major exchange accounts are adding up to the fud. Thus, Bitcoin will most probably follow the bearish cycle with next major support level being $6k.

https://www.express.co.uk/finance/city/917017/bitcoin-news-latest-regulation-g20-meeting-cryptocurrency-south-korea-india-japan-france

Tighter regulations is not a bad thing, regulations are needed whether we like it or not, look at all the scams, that's what's killing bitcoin, not the regulations. We are still in a major uptrend of over a year, even after the crash.

Google ban is also pretty meaningless and ¿good? Most ICO's and ads were scams or viruses. Google is garbage anyways, run by sjw's just like twitter and youtube, they are all disgusting anyways, the faster we get rid of them the better.

[bitbunnny]

It's not possible to move to 6000$.Still now the price of bitcoin is stable at 8000$,so no worry for the holders.They will get some dollars in their hand if they hold.They have to hold the bitcoin with patience for the profit.

Of course it's possible to fall to 6000$. Every price is possible but it's question of moment and if there are circumstances for this to happen.
Not so long time ago we had similar situation and it's hard to beleive that people are always asking the same question.
Just remember that Bitcoin is volatile and price dumps are normal process.

[cryptokwuk]

...
Better invest in real scalable secure green solutions!

so far your "real" blah blah solutions are getting dumped hard too:


you can keep on keeping your head in the sand and bag hold all these shitcoins, nobody is stopping you to throw your money away

Ignorance is bliss eh?
Call it shitcoins. They solve critical problems.
If you think a system like bitcoin, flawed in so many critical ways, will get adopted globally and have a sustainable value, you're completely delusional.

The market is in an irrational state right now, all hype and everybody wants to be rich by the end of the year.
But over time good fundamentals will win out over the clusterf*ck that is Bitcoin.

[Virtual miner]

As long as $8,370 holds, and it did almost a week ago, then we'll be up for another bounce back to potentially the $10,000 mark. If it breaks, then sub $8000 is almost a certainty, and that would indicate a lower demand.

I don't see the market dip under the previous bottom, because that would actually be somewhat worrying. It means that a long term cycle has been broken where the price never dipped below it previous bottom.

I am comfortably hodling my coins, and will continue doing so. I however will use the decreasing market to accumulate as many coins as possible within my financial reach, so there is not much to complain about for me.

I think it's safe to say that the mtgox dumpings might play an important role when it comes to the lower demand, and that sucks. It's a shame that mtgox even in today's world manages to impact the market negatively.

I hold the same opinion as yours. It is like that phase where most of us have this kind of strategy to hold in hope of better market conditions. And yes it is the time when most of us would buy more bitcoins thus the demand may exceed its potential supply that  would lead to a  hike in the bitcoin prices according to simple rule  of economics. So this might smooth en the situation in the market to a great extent as we hope.

P.S. : In order to face the market conditions, don't get nervous or panicked, think *rationally*

[sjefdeklerk]

Besides, once BTC dips below the floor at $8,500, price holds great chances to move towards $6,000 or even break below it. Being cautious is still recommended.

We're trading at $8400 now, not looking good ...