I believe BTC is going to trend down to $5,000 whats your thoughts

[felicita]

i dont think we will reach that low point back to 5000$
But if we reach back to such low prize its a good opinion to buy in again !


regards

[1714892891]

1714892891

[BartS]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

That seems too low and the reason for that is if you think that bitcoin is going to settle around those prices then that means that at some point bitcoin will probably need to go close to a price of 3000 dollars at the lowest point of that dip and that seems incredible unlikely, I do not see bitcoin reaching that price because I think if that happened then everyone will invest all the money they have in bitcoin right away and it will shoot the price up once again so it seems the range in which bitcoin is trading right now is the range we are going to see for a long time.

[Hobo66]

It is hard to predict market of bitcoin rising,
maybe bitcoin go up allot in price value or
maybe the price will fall a bit lower than $5k.

[matanglawin]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

That really expected. Bitcoin's market value will surely fall even more but the thing here is that, we don't really need to worry about it. Don't mind the dumps and focus on investing into Bitcoin. I do believe that this will be a huge opportunity such that once the market price starts to recover, huge profit will be earned from investing at times like this whereas its market price is still low.

[Gatorelf]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

I can see the trend and seen that the price being sustained at this range is awaiting a major break in an upward trend or a lower trend. I fear for it to break out down further. There are really a lot of factors working against the Cryptocurrency rise at this periods but soon, there will be a balance too.

yes that is the problem, Futures were not friendly to BTC other than letting wall street know hey we are playing this thing.  The good news is I believe eventually the good ole USA is going to surprise  the rest of the world and accept cryptocurrency as a legal financial asset following Japans lead. If for nothing else they want their finger in the pie being able to generate tax revenue.

This would be the shot heard round the world part 2

[jimbojones3000]

From what i have seen it's fairly hard to predict the markets.

Mostly due to outside influences or influences that can't be forseen - The china ban for example.

Tomorrow the US could ban it, the price will drop hard. No control, no way to tell the demand or acceptance from the market.

[justine11]

Well if this continues well indeed we might see 5k again but for now i think the support is still very hard on 7-8k at the moment despite all of the pressures not just the government and also, google , twitter and facebook by banning cryptocurrency ads on their respective platforms. Googld thing i already sold my bitcoin before this happen and i think holding is not recommended this time

[Kelvinid]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

That really expected. Bitcoin's market value will surely fall even more but the thing here is that, we don't really need to worry about it. Don't mind the dumps and focus on investing into Bitcoin. I do believe that this will be a huge opportunity such that once the market price starts to recover, huge profit will be earned from investing at times like this whereas its market price is still low.

I still hope that bitcoin will still have higher chances to grow more in the next days.Bitcoin is a very volatile one so we cannot predict the definite time when will it pump or dump so much better if we focus on our investments than worrying on the market price dropdown.After all,we are looking forward for our profits to be gained so we should keep on moving.

[spadormie]

This is really expected for btc to go down. As expected, more fuds. Fuds here, fuds there. This is our life now. I don't really know why people wanted to dump btc all the way down. Don't they want btc to improve itself.

[hakertajniak]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

If your reason for bitcoin price is because altcoins competition, why altcoins price falling too ?
it should be only bitcoin price that falling. but it is still possible to occur that bitcoin will go to price around $6k.
just like last february 2018.

[jayco25]

The price of bitcoin drop because of so many issues that must need to be fixed. Many people are making FUD because they want to break bitcoin and many countries today do not want the crypto currency so the price of bitcoin is affected. But I believe that all of these can be overcome by bitcoin.

#Datarius

[crocozino]

I'm afraid that if bitcoin will go down to 5000 a lot of general investors will go out of crypto and will loose their trust in it
the most bad thing in it - is loosing the trust. to gain it back, the market will require a lot of time and huge margins..

[sollahp]

I'm afraid that if bitcoin will go down to 5000 a lot of general investors will go out of crypto and will loose their trust in it
the most bad thing in it - is loosing the trust. to gain it back, the market will require a lot of time and huge margins..

Given the volatility of cryptocurrency in general, is it worthwhile to try using options during trading? Particularly, the long straddle or long strangle would imo be ideal to profit during large increases and large decreases. Note that this way you wouldn't have to actually "own" the cryptocurrency.
I'm hoping for 1k! It goes down 1k a week it seems like so we got 6 more weeks to go! I'm holding what I have too and I'm super happy people are selling.

[Iyeman]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

If your reason for bitcoin price is because altcoins competition, why altcoins price falling too ?
it should be only bitcoin price that falling. but it is still possible to occur that bitcoin will go to price around $6k.
just like last february 2018.

Altcoins indirectly bond to btc mainly because the funding uses bitcoin and also Ethereum bond with bitcoin. There is no competition as the market cap for each coin always growing and not decreasing.
Actually speaking from my opinion, this bearish market will eventually ends, this bearish market seems huge becaue when we're on bullish market, the price increase so much that it's becoming too dangerous.

[Haiduongbg]

If it breaks the support level 7200, and 6000, I'm sure we'll see 5,000$ again. The market is still bearish we cannot rule out that possibility. In this market, good traders will make a lot of money, holding is not a good strategy anymore. Someone say for sure that BTC will never below 5000$ is just fooling themselves like they said BTC will not below 10000$ when we're around 18000$

[Gatorelf]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

If your reason for bitcoin price is because altcoins competition, why altcoins price falling too ?
it should be only bitcoin price that falling. but it is still possible to occur that bitcoin will go to price around $6k.
just like last february 2018.

Because the market has become saturated with Alt cryptos taking 55% of the total market. If there were no Alts investors would be all in BTC which increases demand and price.  The over all market is down because profit taking moved to other investments so overall demand is also down.

[dionisi]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

Those alts are going to be shut down with time. Recently 82 coins were closed as no one showed interests in these. I think we will have only 102-20 coins finally and all of them will have some unique aspects. Bitcoin will still rule for next 10-20 years.

[Gatorelf]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

Those alts are going to be shut down with time. Recently 82 coins were closed as no one showed interests in these. I think we will have only 102-20 coins finally and all of them will have some unique aspects. Bitcoin will still rule for next 10-20 years.

yep I think 80% will die off and the cream of the crop will fill niches from hard work, need and perseverance building a reputation. A question was brought up to me a while back that is really interesting. It would take a techie like Lee to answer maybe I should ask him some time.  But it was, just as we have forks from a block BCH from BTC as an example...  is it possible the tech from the forks could be consolidated back into the original chain in the future ? 



   

[Nisharawal]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

Yes, ofcourse there is really a tough and increasing competition among the bitcoin and other altcoin.Even we expected the downtrend to end and thought that the uptrend will start soon but it never happened and I think it will not happen for now. And right now I think there are high chances to touch the $5000 price level soon and if you follow my advice if you are holding bitcoin then better sell your position and then buy again if the trend gets started again and it is better to search for some other crypto coin for our trading and investment purposes.

[smyslov]

IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts. 

That's possible it is slowly slipping to that level there are more days now than green and we will wake one day that it is on that level, but if ever it hit to that level I'm sure whales are going to take this opportunity to buy more, newbies or late investors are the ones selling their shares.