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

[LuanX3]

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.

True, but really this is also brought about by the recent Mt.Gox liquidation. The  price is bring brought down because of the increased supply in bitcoins going back into the market. The bitcoins that were frozen and thought to be burned because it remained in stored for a long time has resurfaced and is causing the price to go down.

[snowdropfore]

there is no bottom ,be patience ,come back 2 tears later ,it will hit ATH and go higher and higher again

[timerland]

BTC is now above $7k once again. Next week could potentially start with a pretty sizeable pump, before further bearish movements.

For now, $6k seems to be the bottom.

If we take 2013-14 as an example, prices went as low as $200 and bottomed out there after the big pump. Of course it's not fully the same as 2017's pump since we now see a lot more long term holders that won't sell out easily, but it should be around the same for every bubble.

It took just over 1 year for BTC to go from its then ATH of around $1200, to under $200. So I think it's safe to say that most of this year will be bearish for sure. The exact bottom can't be predicted, but probably is going to be around 20% of the ATH, so I'd say around $4000 will be the bottom. Anything below $5k is going to really be seen as a steal for BTC investors when the bull market comes around again.

[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.

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.

True, but doesn't mean that it won't happen. Just like how $20k was obviously an extremely good time to sell, but most people missed it waiting for the next pump. Same thing goes for dumps.

It will be an excellent opportunity to accumulate cheap bitcoins while the market is in panic mode. But when the market is fully bearish, you never know when it's going to bottom out and often, the prices will undershoot it's real final bottom before crawling back up. Looking at the dump right now markets seem to be recovering again back up to $7000, a huge psychological barrier since $6000 was the support in January. There is a chance that this dump will be one of the lowest prices we'll see, but honestly i don't see that happening with the climate being so bearish. If there comes another dump it could well take BTC's market cap down below the $100 billion psychological barrier. Again, that would mean prices close to $3k ultimately.

That's just my opinion though, i don't think that $3k is too low for a bottom. But heck, if prices do go that low, I would buy in with all the fiat I've got left

[airdagon]

this is just my opinion, the price will not go back down further. we should not Bent out of shape as it is today. the lowest point of the price will not be less than $ 6000, I believe that bitcoin will soon re-pump its price in the near future.

I think it so, price of bitcoin could not go lower $5k this year. So many news that acquire bitcoin into went down price, however we can see again to increased as we did not expected it. It will pump so holding this time.

we just need time to recover all the losses, the storm must have passed! this situation Catch lots of one's eyes! we must be sure that bitcoin will immediately pump the price back and reverse the situation as it was. many people assume that this is the way of death, but I do not think like that. I will keep holding it until the price recovers. to be honest, I am also now facing huge losses, but I try to face it calmly, so panic does not come to me.

[BTCLovingDude]

there is no bottom ,be patience ,come back 2 tears later ,it will hit ATH and go higher and higher again

why would anyone want to lose this awesome opportunity that is being provided to use NOW and ignore it to come back 2 "years" later?
instead of hiding under the bed it is best to start making plans on how and when you want to buy bitcoin before the price starts rising back up again. the when is important though because you always want to be as close to the bottom as possible.

[onrise]

there is no bottom ,be patience ,come back 2 tears later ,it will hit ATH and go higher and higher again

why would anyone want to lose this awesome opportunity that is being provided to use NOW and ignore it to come back 2 "years" later?
instead of hiding under the bed it is best to start making plans on how and when you want to buy bitcoin before the price starts rising back up again. the when is important though because you always want to be as close to the bottom as possible.

I think so that btc prices are already low at 7k and this should be its last level of falling before it finally start rising up. We have seen in past few days how after bottoming at 7k it rises above till 9k and people are making the most of it.

Thus this time too one has a good opportunity to make some money.

[Proton2233]

The bottom of bitcoin is in our minds. I believe that many people do not have the money to buy a large number of bitcoins but stop selling their coins in our power. It seems to me that large speculators from wall street have entered the market now and they buy large sums of coins to establish full control over bitcoin. The appearance of futures it was the first signal.

[denny27]

I think for the lowest it looks like $6k, and it will not be down till to $5k. Well, maybe because I'm still believe it will recover slowly. So many predictions are confusing me, which obviously I just remain optimistic and keep doing some things to earn some profit that's not just investing only.

[eduvacation.net]

I see the strongest support level of bitcoin prices at $ 6000 but if when touching the price the sales pressure is still stronger than the pressure of purchase then it could be the decline of bitcoin will continue let alone death cross closer and possibly the worst could happen. We better take advantage of this decline and wait for a good momentum to reenter the market and buy bitcoin.

[1Referee]

It took just over 1 year for BTC to go from its then ATH of around $1200, to under $200.

MtGox closure was the main reason the price went down that much, which at that point was well justified considering the central position of that exchange. Currently there is nothing that even hints at a similar scenario. People just need to calm down and get themselves toghether, because it's just stupid to keep selling the market down all the way to the bottom. If you didn't sell at +$15,000, +$10,000, what's the point of selling right now?

It wasn't all that long ago where people said to instantly buy as soon as the price falls back to sub $10,000 levels, and now we're there, people sell instead of buying. This once again shows how people's targets are as volatile as the market itself is. Once we're six or so months away from now, people will create threads asking whether or not it's a good time to buy at the $12,000 level.

First purchase came in just under $6700 today, looking forward to buy more at lower levels.

[mace15]

I think for the lowest it looks like $6k, and it will not be down till to $5k. Well, maybe because I'm still believe it will recover slowly. So many predictions are confusing me, which obviously I just remain optimistic and keep doing some things to earn some profit that's not just investing only.

I think the bottom will not go lower to $5k this time. Yes so many predictions but no one can gives an accurate price actually. However, the same I believe bitcoin price may slowly recovering in time and let's hope their is a good news that can lift up the price.

[lili song]

Now bitcoin more a little bit around $ 6,800 - $ 7,100. But now situation the price is drop, some investors is panic and sell their bitcoin.
I sure bitcoin not drop down below $ 6,000. Bitcoin price lower is not temporary it will rise and shine again in the future.
So the bottom bitcoin price for me is $ 6,000.

[lingwistiko]

If we look at the price of bitcoin since the start of this year, it went down 6k and then go up again. This week, it went down 6k again and went up back. So i think there's a strong resistance to go deeper than 6k.

[AICoin_Official]

Now bitcoin more a little bit around $ 6,800 - $ 7,100. But now situation the price is drop, some investors is panic and sell their bitcoin.
I sure bitcoin not drop down below $ 6,000. Bitcoin price lower is not temporary it will rise and shine again in the future.
So the bottom bitcoin price for me is $ 6,000.

As you can see, price is getting close to 6K agian, will you buy in this time?

[AICoin_Official]

I think for the lowest it looks like $6k, and it will not be down till to $5k. Well, maybe because I'm still believe it will recover slowly. So many predictions are confusing me, which obviously I just remain optimistic and keep doing some things to earn some profit that's not just investing only.

I think the bottom will not go lower to $5k this time. Yes so many predictions but no one can gives an accurate price actually. However, the same I believe bitcoin price may slowly recovering in time and let's hope their is a good news that can lift up the price.

Actually, we've heard a lot of application of blockchain or other coins, price remains weak in action, is there another reason for the drop?

[BingoDog]

It's hard to tell, with bitcoin everything is possible but at this moment I don't think that the price will go under 6000$.
But below 6000$ or not now it's the good time to buy, it's investment for the future. Just don't panic, this leads to nowhere.

[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

https://i.imgur.com/sfydpEX.png

Heres the same chart again after its bounced from channel bottom.  This is just a trend lately, longer term trends go back to 2017



Right now its a question of volume of selling now vs previous price volume.  Certain areas have a better chance of holding a price as being a more significant area.   For example round number figures are usually called out as important, this is just an easy concept to grasp but since price varies in every different country its not as true as the graph levels.

[yanesna3]

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

OMG, these charts change so fast that you never know what will happen the next moment.I suppose that Bitcoin will not fall so low, and it will recover soon.

[Yuuto]

I don't think that it's going to go lower than $4000.

A lot of long term holders will definitely start to go into buy mode because the price would just be so cheap then compared to the all time high for them to get more coins. The support at $4000 is going to be pretty strong, and as a result that should be the bottom.

We haven't seen BTC really go down under $6500 either, meaning that even support at this level is strong and there is a ton of buyers. I would hold for now.