Will BTC test 5970 USD as it goes into contango

[Tilbrook007]

A strong possibility as the market enters contango

https://www.cnbc.com/2018/03/29/as-bitcoin-goes-bust-one-classic-market-signal-is-pointing-to-more-pain.html

[1715454382]

1715454382

[1715454382]

1715454382

[Xester]

I dont believe bitcoin will fall down to that value. Though bitcoin has dropped below 7k$ and it went down to 6800$ but it is just temporary and it will go back again to 8k$. The reason why the value went down in a surge is that the whales have tried to manipulate the bitcoin market riding the issue of twitter banning cryptocurrency ads and ICO's. This move have caused the traders to panic and sell their coins only to find out later on that they are being played by the big whales. In this game of tug and war the whales are always having the advantage. If you panic you will lose.

[DarLim11]

I can't actually believe bitcoin could go this low but there is still a possibility and that could really be a bad for those who invested when it was way up. If this drop continues to go on it could be detrimental for the price of bitcoin.

[pooya87]

one thing that i have always believed about bitcoin price is that whenever you break some major buy support and keep the sell pressure up to prevent the jump back up, the price will continue sliding down a lot more. i don't see any significance for $5970 though
the first major buy support was at $10k which was broken in January with a lot of manipulation and whale dumps and ever since that day price has been struggling. right now we are seeing $6k as another one.

[boboking]

one thing that i have always believed about bitcoin price is that whenever you break some major buy support and keep the sell pressure up to prevent the jump back up, the price will continue sliding down a lot more. i don't see any significance for $5970 though
the first major buy support was at $10k which was broken in January with a lot of manipulation and whale dumps and ever since that day price has been struggling. right now we are seeing $6k as another one.

Yes I agree with you, also if the bears will able to break the $6,000 support level I think there will a major panic selling from holders and price may slide down further to the $3,000 - $4,000 area. If that happen I assume that the price will be very attractive to people that the price will bounce back right away. If we reach that price I personally will buy a lot of coins.

[Tilbrook007]

one thing that i have always believed about bitcoin price is that whenever you break some major buy support and keep the sell pressure up to prevent the jump back up, the price will continue sliding down a lot more. i don't see any significance for $5970 though
the first major buy support was at $10k which was broken in January with a lot of manipulation and whale dumps and ever since that day price has been struggling. right now we are seeing $6k as another one.

Yes I agree with you, also if the bears will able to break the $6,000 support level I think there will a major panic selling from holders and price may slide down further to the $3,000 - $4,000 area. If that happen I assume that the price will be very attractive to people that the price will bounce back right away. If we reach that price I personally will buy a lot of coins.

I’m with you on that

[Daris_1933]

I think BTC drop to 4000 and after inscrease!