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

[kasianov77]

I believe that bitcoin can go even lower, and I think this trend can be quite protracted and have a lot of nerves to the newcomers of the market, who entered at the peak. But it is worth remembering that bitcoin will thank those who believe.

[1714878867]

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[1714878867]

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[Mister1k]

I believe that bitcoin can go even lower, and I think this trend can be quite protracted and have a lot of nerves to the newcomers of the market, who entered at the peak. But it is worth remembering that bitcoin will thank those who believe.

6k would be least value correction as much my knowledge. There are people in this forum including me looking bitcoin to be skyrocket mate. Why traders and others expecting bitcoin to be touched the cheap value again.
There would be upcoming price bump in the market for sure, but expecting that bump should take all the cryptos flight again mate.

[Hazir]

How does it have growing competition from alts? Have you not seen that BTC dominance is almost 45% now? Compared to about 36% last November. Also, you post this right when BTC starts pumping its way back to $8,500. Bad timing dude.

Altcoins are not really dominants at all - bitcoin is still number one and will always act as a gateway to the crypto world.
We need to understand that most altcoins are nothing more but overhyped projects, and the vast majority of them won't survive in the end.
Bitcoin race which happened in December was simply too fast - correction happened and then a chain of events/FUD killed the price even further.

[Finestream]

I also think so because bitcoin price is falling down on this year.So it can be possible that bitcoin price goes down to $5000.It's already 6000 + so I think at the end of this month it may fall down to $5000.Bitcoin is in serious trouble now as it's price is getting lesser.

Yeah I had similar feelings like you wherein it's a mixed feeling on one hand you will be worried about the downtrend of bitcoin value and on the other hand we still have that trust that bitcoin will recover like it did in the past.

Yes.If you trace it in the past history,btc price has touched much lower price but still it did come up with a new heights again.So its still a matter of faith in bitcoin.I know that it there is high chances that it will be going down more because of the negatives news around but we have to strongly believe in bitcoin that it will not really frustrate us in the end.

[Msile]

That's your individual assessment and you are free to express it, but you dont have basis for this claim and that weakens your argument. BTC will still go places

[marjil]

It's funny and unique, when a lot of people are busy talking about bitcoin going down without any apparent reason. fundamentally important but technically just a formula.
many arguments speculate that bitcoin drops due to over-priced miner transactions and many investors use altcoin and many other reasons.
give me a reason if bitcoin goes down, then it will rise again?

Yes this is what happens. The bitcoin is going up but it stopped short at the $6800 mark. If you look at the price yesterday it did a spike but lowered through the next six hours. Now it has done a price recovery. We can see it up to $6800 which is where we started in the current uptrend. This can be broken, so we could see a reduction back down to early Feb levels of around $5000. If we test the resistance there then we are looking at lowering to $4500 or maybe $4200.

[jak3]

I have already guessed that the Bitcoin price will drop up to $5,000 and I know this from like 2 months. And I see many incidences in this month happen which proves things just like today Indian government has declared that the citizens will use Bitcoin as a payment method and they have clearly told no banks or any services will be available in India which can transfer or deposit/withdrawal Bitcoin on their accounts. I am pretty sure that Bitcoin is going to reach$5,000 pretty soon.

[Ultegra134]

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 think that we're actually rock bottom now, in terms of price levels. After the recent pump, up to $7.450, the price has crashed again to $6.600-6800 and it's been stable since then. If you have a look back at the other dips that happened throughout the month, you'll see that none of them dropped any further than that.

[friends1980]

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 for not just sharing your opinion, idea, hope, fear, "I think", "I believe" and "I feel" but really giving us some thorough vision and numbers.

I remain convinced that BTC price won't go lower than the real mining cost - as I posted before. If it does, however, I have no idea how miners will react. I bet it won't be in an optimistic way though.

[marcuslong]

I believe that bitcoin can go even lower, and I think this trend can be quite protracted and have a lot of nerves to the newcomers of the market, who entered at the peak. But it is worth remembering that bitcoin will thank those who believe.

6k would be least value correction as much my knowledge. There are people in this forum including me looking bitcoin to be skyrocket mate. Why traders and others expecting bitcoin to be touched the cheap value again.
There would be upcoming price bump in the market for sure, but expecting that bump should take all the cryptos flight again mate.

That's certain mate, bitcoin price now at $6k and above stabilized towards $7k based on my montoring. I am also hoping for that day of skyrocket of bitcoin's price again, because I was stacked with my holdings for so long. Even price isn't that profitable enough for my goals of my alt holdings, it doesn't come to my thinking to panic sell those remain coins I had. The positivity is what I am always believing and it doesn't matter how the btc markets affected by volatile price, what is important to is I controlled myself. Right now that $5000 isn't impossible to happen, but it isn't for longer days and maybe for shorter time price will start to pump again. Let's prepare for it soon and just stay tuned for the recent updates.

[cicciogas]

I don't think we will reach a dip like that. Maybe we will stagnate over $6.5K/BTC. That's what i think. But yes, slow adoption and FUD from stop of google advertising are the main culprits according to me.

[Fayamba]

It is very scarring, the way the price is falling. But it has fallen enough and we just hope that it stops there and starts rising again, but that is not what we are seeing. At one hour,its becomes greeen, then at the next hour, it becomes red again. Anyway,people are still making money out of it.

[Pattberry]

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 see any altcoin that has the potential to challenge bitcoin in any way and i could not see any alt coin making a huge rally when this market is down , the main reason for the stagnant market is because of the regulation talks being going on for a while and unless we have a clear picture people will have two thoughts before investing their money into this market.

[Gatorelf]

That's your individual assessment and you are free to express it, but you dont have basis for this claim and that weakens your argument. BTC will still go places

No basis for my claim ? how about

1. weakness in the market
2. slow adoption from countires
3. on a three month downtrend
4. The new has wore off so to speak, everyone that wanted in is in now and has a crypto account or two
5. cost of mining vs other store of value

[Gatorelf]

It's funny and unique, when a lot of people are busy talking about bitcoin going down without any apparent reason. fundamentally important but technically just a formula.
many arguments speculate that bitcoin drops due to over-priced miner transactions and many investors use altcoin and many other reasons.
give me a reason if bitcoin goes down, then it will rise again?

I posted the reasons just now but as for rise, BTC needs another sizable government/country to accept it as a legal asset. It is still king and the whole market is effected by its rise and fall currently. FOMO is over for now until there is a reason to rise. 

[BingoDog]

It's strange how every time when the price comes around 6000$ speculations about price going down under 5000$ begin. Everthing is possible, I don't say but to my opinion curently market doesn't seem like falling deeper down. Actualy I would say that price will stay somwhere between 6000$ and 7000$ for a while.

[raidarksword]

It is really unpredictable, as always that's why bitcoin is volatile. It's a quite a scare if that happen, expect the worst could happened but i believe bitcoin will rise back up from the dead, without a doubt. Bitcoin is gaining stable price so let's expect a great price few months from now.

[Zapto25]

I believe that bitcoin price will rise up and lead all cryptocurryncies all over the world. Nothing can defeat bitcoin even its price get low.

Exactly. in bitcoin cryptocurrency nothing counterbalance what else beats the bitcoin. I dream of bitcoin will reach $ 50,000. all bitcoin lovers will feel happiness, without regret

[efremovav]

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 alt coins had really ruined it for bitcoins. Now all the crypto investment is scattered among all the coins and bitcoins is suffering because of this. We should have a limited number of coins so that more people are benefited.

[CryptosGeek]

Nooooooo..... I strongly believe it will go up!