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

[eagle10]

I think worst case we'll see a double bottom at around USD 6,000,- but I'm actually a bit hopeful that Bitcoin will be able to hold the USD 7,000,- to USD 8,000,- levels. Then again I might be a permabull.

I second that. While some of you might see it as sluggish, it actually confirmed the bottom at 6k and the next wave red candles ended higher, at 7200. When there are 2 huge red spikes and each of them stops at a higher level it confirms the bottom and starts forming a clear uptrend. As i'm writing this a decent green candle has formed at 7800. Could that be our new low support? To me it looks like we're getting closer to a breakout from the 8k range.

Everybody is hoping and expecting an uptrend if there is favorable reason to think so. But I don't believe it will slow down and going low till 2000 usd per bitcoin. Let's just watch the market to get back on their feet. We should not just rely on chart reading because in cryptocurrency world it is different market sentiment.

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[AntonYar]

I also think that bitcoin will drop, but I think that up to 6000 and it will go up sharply to 15,000

[Rath_]

I don't think that we will see anything under $6000 this year. I'm surprised that many people are selling their BTC due to FUD. If they don't stop, we might actually have a problem. Panic will have to end at some point and the question is, when? There isn't any particular reason why would Bitcoin drop any further. Governments that participated in G20 are positive about Bitcoin. Most of them don't want to regulate cryptocurrencies heavily. You are all too impatient. Are you here only because of money?

[owlman]

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 do not think that the reasons that you named affect the price of bitcoin, definitely.
We can not predict the price that will be. It can go down to 5000 (as you said), and can rise to $ 10,000. We need to assess the situation that has developed at the moment.

[poplolnman]

you will find that there are many layers of resistance points

mining income resistence point remains at around $8k (this is based on actual cost calculations not numbers picked out of a hat)
https://bitcointalk.org/index.php?topic=3140327.msg32495804#msg32495804

day trading resistance point based on 6-12 month month lows.. is around $6k+ ($6.6k at the moment)

so take that info any way you please

but i do like how many grab a random number but cant back it up..

Thanks frank for that formula , u just show a different perspective to the people around here who usually just use fundamental as their primary analysis technique. Worth to try. I do believe the support are on $6k for now , would hard to break it and the resistance changed to $7.5k or so.

[September11Myth]

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 agree with you, but not for this reason. Speculation is the real reason for the price to have ralled so much in 2017 and now to crash land so badly in 2018.

[jbdjy]

I think this is one of the worst ideas. If you think that you think better, I think it will soon break out. It will surpass last year's currency and reach a new height. I hope so.

[YinShuiSiYuan]

I also think that bitcoin will drop, but I think that up to 6000 and it will go up sharply to 15,000

It's quite possible that the price will drop to $ 5,000. If the bear market continues to dominate, there is little chance of a rebound. Too many people lose patience and sell. And this has a bad effect on the market.

[Red-Apple]

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. 

your reasons are invalid so your prediction is even more invalid. so even if price does fall down to that level your prediction is still worth nothing.

first the adoption world wide has been growing non stop. the only thing that has dropped is the adoption by speculators or in other words the number of newbies who buy bitcoin to become rich has decreased.

second there is no competition from alts! if there were, we would have seen something above bitcoin or at the very least we would have seen an altcoin which hasn't gotten dumped hard in the past few months. do you see such a thing? didn't think so!

[coynedterm]

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. 

Every person in this field have his own thinking but not the thinking of all person will be perfect because the main reason is that this is a type of fear and also experience for many people .
Here my opinion is saying that you will be wrong soon because the main reason is that here in this field most of the panic seller get exited and now it is a time for us to hold and wait for the new positive news regarding about bitcoin , so it will be better for us to wait for the perfect time and just hold your assets and be ready for the incoming profit in future .
My strong believe from my personal analysis is that bitcoin will not go down for now again , because no more panic sell will happen in this field .

[Maryverycool]

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, I think that will happen soon. Now the currency of the price is $7500, but it has stopped falling and yao, I think it will soon reached $5000, many people will become panic and choose to sell the currency, it will speed up the currency price of $5000, this will make many people panic

[hitrawal91]

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, of course there is really a tough and increasing competition among the bitcoin and other altcoins.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.

I like your answer, and i agree with you because in this high competition world the bitcoin journey is really going to tough as you said. We need to learn technical analysis first and then we will try to find the end and start of the correction by which i can easily find out whats going wrong with bitcoin and other cryptocurrencies. I also think that here there is lack of fundamentals by which we cannot examine the fundamental factors as we used to trade during the stocks and forex currencies. Kindly help me in learning the technical analysis, i have sent a msg, check your inbox pls.

[darkangel]

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. 

Your guess may not happen. bitcoin has recovered. Investors are not too worried about attacks, so they have invested in bitcoin. This causes the price of bitcoin to rise again

[rext]

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. 

The price of digital currency has increased steadily in recent weeks. The virtual currency market has recovered from fluctuations throughout the world. I think bitcoin will continue to fluctuate in the future

[piebeyb]

in 3 weeks there has been no good development and buy support, I think it could happen but I still see in the next 2 weeks to see it again

[jademacoy]

I guess you are right bitcoin market price will still fall down up to 5k usd. This is not surprising though there are many smart investors out there just waiting for the right time and being ready to buy for a couple of btc in low amount. Other investors especially to those who are new in this investment will be scared off and probably will going to sell their btc. So as not to compromise the bitcoin fall down of price this experience investors will come to put an end especially if there target bitcoin low price will be achieve then it is a matter of time that bitcoin price will move again and will raise its market price.

[caberum]

How are you ppl enjoying todays price ?

https://bitcoinwisdom.com/markets/bitstamp/btcusd

Remember what I said, the price will fall to sub $2K by the end of the year

[Gabriellefull]

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 don't think so. Now that the price of bitcoin has stopped falling, I think it will soon start to return to normal. We don't have to worry about bitcoin dying. Now that the entire encryption market is falling, what we can do is continue to wait.

[LuvCyanide]

It's just a hunch. No technical analysis can't predict the rise and fall of Bitcoin. I don't think it's going to fall below 6,000 $, but that's my opinion.

[Gatorelf]

How are you ppl enjoying todays price ?

https://bitcoinwisdom.com/markets/bitstamp/btcusd

Remember what I said, the price will fall to sub $2K by the end of the year

Only if Japan bails