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

[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.

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[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.