What if Bitcoin price drops even further?

[shield132]

I don't want to sound I am panicking, but the price of BTC has reached the lowest point this month. Checking on the chart of this quarter on 5Feb there was this dip when the price of BTC even went down to $6,500

I heard people around me they believe BTC price will even fall further. Is this really gonna happen?

Can you write pros and cons of high price before saying that falling of it is bad?
High price also caused high fees, which for me, as a bitcoin user is very bad (don't tell me to use altcoin, I need btc currently).
Now we have it between 8-9K and that's great, I think this is the optimal price for bitcoin currently, everything works perfectly.
What if it falls? Nothing, because nothing was happening 1 year ago when price was 600$.

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[richardsNY]

The more people panic, the cheaper the coins will be for me to buy back, so go ahead.

We have been through similar market phases many times already, but yet people still seem to panic over nothing. Seriously, from $1000 last year to +$8000 right now, how bad can this market be with that in mind? Bitcoin had to fall back down, because of how the market has been pumped up due to the insane level of speculation last year. Take that speculation away, and the market is guaranteed to come back down to more appropriate levels. As long as we remain above the $6000 level, there is literally nothing to worry about. Why do people find it necessary to constantly look at short term fluctuations, while in the longer term everyone will look back at current prices and regret not having bought when they still had the chance....

[Indrawan77]

Yes it is quite possible, because a lot of people easily belive the FUD news, that is the one that causing the panic sell and price dropping, the banning of ads related from facebook and google actually not going to hurt anyone, but because of this news people sold their coins, this is the result of investing in crypto without proper knowledge and preparation and this is also the one that causing the price keep on dropping, if the price drop but still have the chance to go up then its a good opportunity to make profit, the one that we afraid is the price go down without any ability to move up again, and I don't see that threat in bitcoin, so it will be fine

[imapessimist]

Nobody knows what is going to happen.  So I'd think it wouldn't be very wise to invest a great deal of your savings in Bitcoin at this very moment in time.  It's just too uncertain for people who value their money and don't want to end up losing it.

[fabiorem]

There are no historical parallels to 2014. It's in a league of its own regarding time.

True, but both at that time and now, the bear market was started by Mt.Gox.

And we had already three months of bear market, since middle December when the building started to crumble.

We should be already above 12k, but we aren't. Correction, as a technical term, is already over. Now is just plain manipulation or massive panic selling (it can also be both).

The bull trend can last until May. I say that because last year the price started to go up for real in May, having only the fork crash in June and July, and that other in September due to the China FUD.

If the price do not recover by May, it will be uncharted territory.

The impression I get everytime I visit this forum, is of overall panic. There are multiple threads of panic, full of fear and doubt about bitcoin future (despite all the development). Those topic starters screaming for people not to sell are the ones who are itching to sell, and they want confirmation that others are not going to sell like they want. At the same time, we have only 4k unconfirmed transactions at this moment.

I hope when it recovers we have a full functional sidechain.

[perto01]

Yes the bitcoin will fall, but this is not the end of bitcoin. What happen now is normal, the price will up and down. Don't panic and think positive. No one knows what happen next time.

[gigusico]

if the price goes even lower than now, then I'll try to get a little into this fall because I'm sure in it that it will recover in the future

[RamonBTC]

I don't want to sound I am panicking

You weren’t panicking, your just worried and that’s normal. Most of us does when things going unexpected especially about money.

I heard people around me they believe BTC price will even fall further. Is this really gonna happen?

Don’t listen too much to them. They want you not to worry, but to sold your hold bitcoin and invest on the coin they are investing with. If that is your friend or a relative, prove them wrong and if bitcoin price increases then don’t treat them on a dinner. Just kidding. Bitcoin can drop its price, but risk is irrelevant when future high price is possible.

[batang_bitcoin]

I heard people around me they believe BTC price will even fall further. Is this really gonna happen?

It can happen, otherwise it won't. You may not look panicking but you should not worry at all. Don't think too much because it will lead you to think out of this world impossible things.

The more people panic, the cheaper the coins will be for me to buy back, so go ahead.

This is the advantage when the price of bitcoin fall further.

[exstasie]

There are no historical parallels to 2014. It's in a league of its own regarding time.

True, but both at that time and now, the bear market was started by Mt.Gox.

I don't think so. The collapse of Mt Gox may have accelerated things, but it didn't fundamentally change anything. The market was not devoid of competent exchanges and volume went elsewhere, as expected.

Remember, the 2014-2015 bear market occurred after a 5-year bull market. We can't only consider it in relation to the November 2013 bubble and the Mt Gox collapse.

And we had already three months of bear market, since middle December when the building started to crumble.

We should be already above 12k, but we aren't. Correction, as a technical term, is already over. Now is just plain manipulation or massive panic selling (it can also be both).

My feeling is we're still squeezing early bulls, those who thought they could just keep buying every dip.

The time to squeeze late bears (those who think they can just short every bounce) is coming soon.

Where I think we're going:

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.

[icoworld]

if the price goes down even lower then I will try to buy bitcoin at this time and I do not think that the price is very much

[Ultegra134]

I don't want to sound I am panicking, but the price of BTC has reached the lowest point this month. Checking on the chart of this quarter on 5Feb there was this dip when the price of BTC even went down to $6,500

I heard people around me they believe BTC price will even fall further. Is this really gonna happen?

It's possible, as you've already mentioned, it did fall down to $6.500. However, I don't think it's going to happen this time, it did fall down to $7.000s but has already recovered a tad bit, I think it will recover in the next 1 to 2 days at max. It's a great opportunity to buy BTC currently and sell at a higher price within the next week.

[XCANA]

Well, if the value of Bitcoin and other altcoins decline further it eventually create an avenue for one to buy at a cheaper rate with the hope that it will rise in no distance time from now and will be able to make huge profit. So that shouldn't be a much issues of concerns as that is for good in disguise.

[Yamifoud]

I don't want to sound I am panicking, but the price of BTC has reached the lowest point this month. Checking on the chart of this quarter on 5Feb there was this dip when the price of BTC even went down to $6,500

I heard people around me they believe BTC price will even fall further. Is this really gonna happen?

It is quite possible from happening but I really feel that it won't go much deeper maybe reaching only $5k. Of what a worst thing happen before, certainly it won't happen again as the numbers of crypto users are now increasing and it be a big help for the market recovery.

[sjefdeklerk]

Only a year ago the value was $1000. If we go back to $1200 you still have 20%  in a year, still pretty good investment.

[Farma]

we can only withstand it, and accept it. if you are a real bitcoiners, you might see that as an opportunity to buy a large amount of bitcoin, because I'm sure that bitcoin has a very high price.

[SillyGirl]

3 Days after I have posted this subject Bitcoin price even drops further to $7,400 and it is dropping by the second.

I am standy and will buy BTC when the price make a free fall.

[Jating]

3 Days after I have posted this subject Bitcoin price even drops further to $7,400 and it is dropping by the second.

I am standy and will buy BTC when the price make a free fall.

Yeah, the price keeps going low and a lot has been in the panic mode. Well as I have said, this is another perfect time to get in the market will its at a discount.

The Mt. Gox trustee dumping is already done. I don't know why people thinks it is still the main factor as to the current nose dive of bitcoin. Its really the panic sellers who are doing this. Stop with the Mt. Gox argument. Its becoming non-sense now.

If people would try to understand what's going on, there's no coin movement of the Mt. Gox trustee, its really the weak hands that are exiting because they really got murdered when they bought bitcoin at the top price and want to cut their losses. But for most of us, we look at it at the price side. Cheaper coins now means we can purchase more coins.

[hahahafr]

I have a good chunk of money on my GDAX account waiting to be used to buy bitcoins when the price drops to $4000.

3 Days after I have posted this subject Bitcoin price even drops further to $7,400 and it is dropping by the second.
I am standy and will buy BTC when the price make a free fall.

I am confident in that it will drop more, but it is not bad.. before the end of the year it will touch a new all time high, we all know that.

[SillyGirl]

The Bitcoin went up to $8,200 right now.