Where is the bottom for BTC price? 6K, 5K or even lower?

[figmentofmyass]

wow, i had prepared for some bear power, but this was unexpected. okcoin quarterly futures just dropped to $4755! that's 31% lower than all the spot exchanges (even more at the extremes)....wtf happened?

i can't tell if a huge contract holder getting liquidated caused a cascade, or if something went very wrong with their order matching system. either way, the okex chart is completely rekt. what a shitty day....

[gilangIDR]

Where is the bottom for BTC price? 6K or 5K even lower?

Price never stays at bottom fro long. It bounces up. $5000 Bitcoin bottom price is totally possible. I believe is possible way lover then that.  It can go under $4000 easily, but as I said it will not stay there for long. It woudl bounce back over $5000 in few days.

Bitcoin prices are currently experiencing bad conditions. But as always, there is always a wave-like condition, the price increases and decreases every time. So there will never be a clear benchmark to illustrate the price of Bitcoin. We will all decide the price of Bitcoin, when we believe in Bitcoin and continue to use Bitcoin for financial transactions every day it could be Bitcoin price will increase and when we start leaving Bitcoin so the volume of transactions decreases then it is certain Bitcoin price will also participate decreased .

[Oceat]

I don't know where and what but i don't know what's the problem why it goes down for a moment. Despite of having a G20 nothing else that i could think of why it goes down. No matter what is the bottom price i do still believe at Bitcoin, and when there's dip meaning it could be a chance to buy more than less on a daytraders.

[AICoin_Official]

If you look at the chart, then it's easy to see that the price target is the june/july level from last year, so about $2500

You scaried me.

[AICoin_Official]

If you look at the chart, then it's easy to see that the price target is the june/july level from last year, so about $2500

As we are loosing a couple of 100 USD each day now this is very much possible.

I'm experiencing the same story right now, give me a hug.

[AICoin_Official]

it is impossible to tell. the bottom may be the current price or it may be a lot lower than this but one thing is for sure, and that is the fact that it was proven that no amount of technical analysis can ever work on bitcoin otherwise it wouldn't have fallen this low in first place since everything was pointing in other direction not so long ago and also other times they have been predicting a lot lower than bitcoin ever got!

Well, for short-term traders, I believe it's quite useful.

[BitcoinThugLife]

We'll see sub $3k by mid year for sure

[Paractor]

Thanks for great article. I also believe it will not go down from 6k. If it goes I think we can see 4k or lower

When it was dumping from since the beginning of the year people were saying then we will be seeing it go back down to $3k.
So it is half way there right now.
All we can do is wait and see from this point on.
Nobody knows to be honest.

[DPoS2]

Perfect storm of 2017 is over..  the parents stopped the party & called the cops (IRS, SEC, etc, etc) on ICOs, exchanges, miners, and whatnot

Gox dump like vomit on carpet.. everyone leave


2018... Probably best to make money using crypto than speculate on price

Miners looking like baghodlers

[bitcad4u]

Personally I had not expect this fall in the price of crypto currency.In a single day,the price of bitcoin reduce to 1000$ .This will be the one of crash occurred in the price of bitcoin in past few month and this will be red chart welcome to the beginner  to buy the valuable bitcoin at low price.

[STT]

This is only a short term trend but it could combine with other trends.   In any case it can form a bottom price as part of a series of lowest prices.   Last channel bottom resulted in 8250 as seen on the left
Channel top would be 7000 but Im also watching long term trends I think could come into play.    Price never moves in one direction only, that would be free money for traders.   This is true in every market

[HatakeKakashi]

Maybe once the price down at $5000 maybe it will increase again. But actually we don't know what is the possible lower price of the bitcoin. But I hope the price will increase again and not decrease . Better you gonna do is to buy bitcoin and you hold it for few years and for sure you will make more profit. Don't sell your bitcoin so the price will become stable and it will increase again.

[pooya87]

Secondly, lots of investors still believe price will slump to lower prices again, they’re waiting to buy in at $5,000, $4,000 even $3,000.

lots of investors are always waiting for some weird prices at all times. just like they were waiting for $50000 to sell their coins they are not waiting for $5000 to buy bitcoin. them waiting for it doesn't mean these prices will be reached and also them waiting for it doesn't mean they will act on it if the price was reached! it have seen multiple times that when the price drops, people who have been waiting for that price get greedy and wait some more just to waste a perfect opportunity.

[wack slacker]

The price of bitcoin I think can not be lower because currently no money source withdrawn from the market. Only bad news is fabricated and the market plummeted. I believe that bitcoin will soon increase in value. The support level of 6000 is very strong.

[magneto]

No idea where the bottom is going to be in the future. It's way too hard to predict.

For now it's going to stay at the $6k bottom that was previously discovered by the dump back in January. As someone else said, that is the psychological bottom for now. If that psychological bottom doesn't hold up and there are more panic dumps in the short term, we could see BTC crash down to lower level like $5k, $4k.

Anyways, I doubt that we're nearing the bottom yet. It's going to come with cycles of recoveries and then more dumps, but the general trend is definitely bearish for now. It seems improbable that this trend would stop right now as well, it's much more likely we see it play out throughout the year, and potentially find a bottom at around low $3k's.

[AICoin_Official]

We'll see sub $3k by mid year for sure

3 more months to go, we'll see by that time.

[AICoin_Official]

No idea where the bottom is going to be in the future. It's way too hard to predict.

For now it's going to stay at the $6k bottom that was previously discovered by the dump back in January. As someone else said, that is the psychological bottom for now. If that psychological bottom doesn't hold up and there are more panic dumps in the short term, we could see BTC crash down to lower level like $5k, $4k.

Anyways, I doubt that we're nearing the bottom yet. It's going to come with cycles of recoveries and then more dumps, but the general trend is definitely bearish for now. It seems improbable that this trend would stop right now as well, it's much more likely we see it play out throughout the year, and potentially find a bottom at around low $3k's.

Personally, 3K is way too low, for those believing BTC, that price will sound like a free gift, some investors may want to sell their house to buy BTC instead.

[AICoin_Official]

The price of bitcoin I think can not be lower because currently no money source withdrawn from the market. Only bad news is fabricated and the market plummeted. I believe that bitcoin will soon increase in value. The support level of 6000 is very strong.

It may be just a matter of time before the support at 6K is digested. Panic chips need to be forced out by testing 5K, then it will fly to the moon.

[AICoin_Official]

wow, i had prepared for some bear power, but this was unexpected. okcoin quarterly futures just dropped to $4755! that's 31% lower than all the spot exchanges (even more at the extremes)....wtf happened?

i can't tell if a huge contract holder getting liquidated caused a cascade, or if something went very wrong with their order matching system. either way, the okex chart is completely rekt. what a shitty day....

It'll be rolled back. Check their Twitter here: https://support.okex.com/hc/en-us/articles/360002279012

[truongdhnh]

Thanks for great article. I also believe it will not go down from 6k. If it goes I think we can see 4k or lower

Me too. The situation will not be that bad, in April everything will return to orbit. Whales are creating psychological panic for everyone.