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 ...

[Altero]

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 ...

It's getting down again, not for sure it will go down deeper same thing happen last December dip.  Since you have invested it in that amount you better keep it and wait for it's bounce back.  Cause I'm pretty sure it will go that way after, and not taking so long in dip.  Those people having weak hands might be on selling their coins right now which definitely creating a big loss to their self.

[Mobshady24]

Google fud has been said and done but BTC is holding on 8K price, i don't think it will reach 6k but will stay there for few days and who knows what will happen after 

[MiningBattalion]

Hold on buddy. Now the price of bitcoin is just bounce to low value and some panic sellers had sell the bitcoin with low price and make this further reduce. So if you hold the bitcoin instead of selling at panic means, atleast it will make the price of bitcoin very stable. Hold is the best way to avoid loss.

[el kaka22]

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.

MtGox obviously played an important role but I thought the whole rumor (as I have not been able to confirm anything from the horse's mouth) about him holding up till September should have at least stepped down the whole bear market a little bit and give the bulls some little bit of chance.

The bounce of bitcoin though within $5500 may probably give alts the chance for some activities, but I still feel the break down below should cause a huge rally afterwards, so I guess we have to just wait. Maybe it is time to start loading up for another moment of lower buy ins.

There is a lot of huge uncertainty in the market and no one wants to be caught in any bear trap at this moment, but since we can only play with what the chart is telling us, we might as well just keep trying to see what happens next from here. Anything can happen, and the likelihood of $6000 is tightly knocking. I just keep wondering when all these FUDs will end.

[omonuyak]

Bitcoin has really pull back very hard and it may get to $6000 before a rebance. I have told some of my friends this morning that they really need to wait to enter the market at the right time as the buying streignt is currently very weak. Bitcoin has also pull down every other coins and tokens and currently all the coins are in red

[Fuhre]

this is the situation that many people talk about. IMO as long as traders do not panic we will not see the lowest price, indeed the lowest price becomes an opportunity for investors to buy again and can take many advantages. but, this is bad news for merchants, because it is less profitable. the price will return to the safe zone in the near future, most likely we will see the price in the figure $ 25k - $ 30k in the coming months of June.

[swscowods]

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.

I guess the FUDS will just never stop, and they will keep coming. We are getting used to them anyway and who really cares if Korea lay siege on an exchange or Google ban crypto related advert for a good reason, FUDers will always find something to say no matter what, won't they? We just have to see how the whole bearish things want to play out, but I am not expecting us to go anyway below $6000, if we do not get to see a bounce back before then.

[TravelMug]

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.

I guess the FUDS will just never stop, and they will keep coming. We are getting used to them anyway and who really cares if Korea lay siege on an exchange or Google ban crypto related advert for a good reason, FUDers will always find something to say no matter what, won't they? We just have to see how the whole bearish things want to play out, but I am not expecting us to go anyway below $6000, if we do not get to see a bounce back before then.

I agree there will always be FUD around no matter what the sentiments are going to be. Right now though, the market suddenly turns green and we are strong above $8200. Obviously, we wanted to stay above the 5 digit mark, but with so much negative sentiments and FUD around its gonna be a tough road ahead.

But we have to bear in mind, that we are still in the early stages of this year and I read that LN is now in beta with more Nodes supporting it. So this is going to be critical, if implemented, I think it will push the price to go above $10K again.

[lumeire]

I've read from an analysis that the next big resistance to the bear market is already on the $7000s, this means we could expect new baseline lows again in the few coming weeks. Maybe 6k is next.

During these times, it's always much better to focus on the long term.

[followmenot]

I started to believe that we may hit even lower than $6000. There are so may bad news on public and many public figures (intentional or not) started to talk against bitcoin. Its very sad that humanity rejects this gift that could truly work for our financial freedom.

[onrise]

I started to believe that we may hit even lower than $6000. There are so may bad news on public and many public figures (intentional or not) started to talk against bitcoin. Its very sad that humanity rejects this gift that could truly work for our financial freedom.

This type of statement make me laugh that it will head below this level etc. Just to let you know btc is moving up and now above 8200$ already and possible that by weekend we should be able to see more positive wave to happen it is the sentiments now which people think and selling in the panic mode.

[p i e c e]

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.

I suppose that everything will be approximately like that you are writing about it here. However, I believe that Bitcoin will not fall less than 6,5K.

[readygoaw]

I suppose the critical point will be 7.5 thousand. If Bitcoin price fells lower than this point, it might go down further. I do hope still that it will be not seen.

[jukka]

i think that there is big resistance in 8K. it can go slightly below that BUT less than one month and we will see 10k again.

[BillyBobZorton]

There's still time. Let's see if we can close today above $8500, that would be the very limit... if we go lower and we get a candle under the 1 day moving average... well I guess we may have higher chances at going lower.

Ideally, we want to close the weekend at $9000, ideally a nice pump of $10000+ to close above 5 figures, but unless someone can confirm it, we are still at the mercy of Kobayashi dumping on Kraken. This guy needs to be stopped if he is still not going OTC.

[exstasie]

I've been speculating on this pattern, a falling wedge. It's still valid for now. It's got nice 5-wave form and a typical throwover below the lower trend line. The upper bound stands in the $8,700s right at a horizontal resistance level.



A measured move from this pattern would net $14,000 or higher. That's in the realm of the retracements we saw following the top in August 2012 and April 2013 (58%-62%). Those are my models for the current correction.

[LuffyD.Monkey]

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 really sound like a newbie even though you are a senior member. Have you been on the stock market or Forex before? Every market is bound to fluctuate, so if you consider bitcoin worse than gambling as a result of that, then you should probably be the one questioning yourself, if you are actually the one gambling here with your decisions. Should there be anyone that does not understand the volatility of bitcoin already? Investors will enter when they feel it is time to enter bro!

[Alijiindahaus]

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 really sound like a newbie even though you are a senior member. Have you been on the stock market or Forex before? Every market is bound to fluctuate, so if you consider bitcoin worse than gambling as a result of that, then you should probably be the one questioning yourself, if you are actually the one gambling here with your decisions. Should there be anyone that does not understand the volatility of bitcoin already? Investors will enter when they feel it is time to enter bro!

I think that they already and so tried, Because a lot of information that some holder of a large number of Bitcoin, threw coins into the market. And this influenced the fact that the market collapsed and prices fell.

[warrior333]

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 really sound like a newbie even though you are a senior member. Have you been on the stock market or Forex before? Every market is bound to fluctuate, so if you consider bitcoin worse than gambling as a result of that, then you should probably be the one questioning yourself, if you are actually the one gambling here with your decisions. Should there be anyone that does not understand the volatility of bitcoin already? Investors will enter when they feel it is time to enter bro!

This will always be the case if the main purpose of bitcoin is speculation in the market. Such capital is not sustainable and is constantly moving. But that could change if bitcoin will have the properties of a currency. It may more evenly distribute the coins among the users and it will make the price of bitcoin stable. I really want to see this time.

[YinShuiSiYuan]

It is possible that it will happen. From the beginning of the year, the price actually falls only. It is known, the price of bitcoin varies very much but now there are no strong signals to rebound.

[exstasie]

I've been speculating on this pattern, a falling wedge. It's still valid for now. It's got nice 5-wave form and a typical throwover below the lower trend line. The upper bound stands in the $8,700s right at a horizontal resistance level.

Bears really smacked this thing down. Ouch. The pitchfork mentioned here is holding on for dear life. And this falling wedge is teetering on the edge:



If bulls are going to make a stand, this would be the time.

It is possible that it will happen. From the beginning of the year, the price actually falls only. It is known, the price of bitcoin varies very much but now there are no strong signals to rebound.

I hate to say it. But if the mid-$7,000s fail to hold and we return to $6,000 and beyond, this really starts to look like 2011.