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Author Topic: Bitcoin's bottum price?  (Read 213 times)
BillCoin
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March 26, 2018, 07:38:01 PM
 #41

6800$ seems to be the support level, as it has been lower then that for only 3 hours, at a large prespective( talking about weekly chart, this level is invisible).
I think that bitcoin has to gain a hype like we had few months ago when we hit 20K$, that's the only way for us to recover, and this hype may come from regulators.
If a big government decides that it sees bitcoin as a legal tender, it may get the price to skyrocket again.
Even if we are talking about a small country, it's still a game changer for us.

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March 26, 2018, 08:28:39 PM
 #42

If a big government decides that it sees bitcoin as a legal tender, it may get the price to skyrocket again.
Even if we are talking about a small country, it's still a game changer for us.

It would definitely contribute towards a more positive sentiment, but we don't really need that. Last year the market behaved in a very similar fashion, where in May the market started to go crazy and the longer term bull run started. If I look at the 1W chart, it perfectly shows how even current levels might be somewhat on the higher side. The peak of $19,700 is just ridiculous and doesn't even look like a justified increase. I see a massive speculative peak that got tanked back to where it belongs, but unfortunately that's not how people look at the market. For them it's just the market having lost big time, while I see a solid gain. This market clearly wasn't ready for so much growth, and possibly still isn't ready for it....
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