BTC Moving towards 6000$

[mwaqar17]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

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[dutchlincoln]

don't know, but i do know that i'm getting very tired of shitcoin.... 

[harizen]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

Disagree. Some altcoins are gaining an increase in terms of their bitcoin price value so it's not a whole market.

Now for how far this decrease will goes through, no one knows and even I can't speculate what will happened because my only mindset is "all trends are bound to end" whether an uptrend or downtrend. Even with the current happenings today, one move by a big investors can changed the trend so just be ready.

We will just know the exact answer once it happened. If the purpose of the question was for buying purposes, then you can consider buying at current price as long as you understand the risks. On the other hand, if the purpose was to sell, Im not that type of person who minimize losses in terms of bitcoin so I'll keep hodling it.

[olubams]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

You don't expect anyone to be able to give the answer to this just like the way several threads on this issue have been responded to. The market is taking a down trend now yes will it go further, yes will it also recover, of course yes but the timing is what I don't see anyone being able to say. What matter is what are you doing with it? Answer this question and you are less bothered about whwn it will recover.

[STT]

There is a long term uptrend in place since April 2017 and presently trend is at 7850.  I dont think such a long term standing trend would be idly crossed without alot of negative volume.   

Theres no special reason for the sell off right now just impatientance, fear as always.   Im short term bullish just on the basis we recover the 7850 trend and confirm it likely as a bottom.  If it should prove to be a failure of this trend then this confirmation comes later imo

[BitMaxz]

I don't think the price of bitcoin can be decrease more and hit $6000 or not, but I think the price will stay at the $7K level.

I don't see any news could push the price down and I think there is something behind to it. That is why the price is still dropping slowly.

What I see from the live bitcoin chart just few minutes someone sold a large amount of bitcoin and I think the price could decrease more soon.

MT.Gox funds status according to some tracker it's not moving so it means that there is another reason why the price decreasing and maybe there are groups of dumpers is trying to sell their bitcoin to push other holders to panic sell.

[bocyaj]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

Everything happen in bitcoin.But I was totally disagree with this point.If you have idea to buy a bitcoin,now you can buy that.Just check the price is increasing now.Because the price is raised to 7600$ from 7500$.This show the positive impact of bitcoin .If it continues,the price will get back to 8.5k$ by today.

[BitHodler]

MT.Gox funds status according to some tracker it's not moving so it means that there is another reason why the price decreasing and maybe there are groups of dumpers is trying to sell their bitcoin to push other holders to panic sell.

MtGox has likely never even affected the market noticeably. It's just that people make a big deal out of it, where admittedly, I was one of them as well, but that stopped after they obtained enough fiat to cover the debt.

Having enough fiat means that there is no reason why more coins should be sold, and for that reason it's not happening (at least not through exchanges). As always it's the speculation making it more of a problem than it is.

The larger dumps I observe aren't panic dumps, but more well timed dumps coordinated by a group of whales teaming up. In other words, I do believe that there is some manipulation happening right now.

It may have been manipulation on the way up, and now they steer the market back down.

[LeGaulois]

The larger dumps I observe aren't panic dumps, but more well timed dumps coordinated by a group of whales teaming up. In other words, I do believe that there is some manipulation happening right now.

This.
Not the first time we see it and surely not the last. Since about 6 months it is with more evidence we can see some people are really looking to push down the price to get some bitcoins as cheap as possible. Fake news, misunderstood statements, and so on, everything is good to use.
I would say it can also be considered as a good sign if these people are really thinking the price will hit up the sky...

[Phenoca]

I'd like to think that the whales feel pressed for time, since most people are expecting a rally. I'm curious to see how Wallstreet firms and Iranian banks affect the market.

[richminded]

Bitcoin may hit below $7k again but we must remain positive because this happen so many times this year and yet the price are still soaring. $6 level is a good place to enter the market again so its actually a good opportunity, I still see bitcoin on $20k level again this year.

[batang_bitcoin]

What is your opinion about this decline??

I'm speechless lol. This isn't really new to us and it's an indication that there are people who are dominating the bitcoin market and I believe with the same thought.

In other words, I do believe that there is some manipulation happening right now.

Whoever they are behind this, they started to took profit and we'll just do the same thing of buying again when it's enough for the price to buy back.

Bitcoin may hit below $7k again

Or it may go lower, we don't know.

[shone08]

The larger dumps I observe aren't panic dumps, but more well timed dumps coordinated by a group of whales teaming up. In other words, I do believe that there is some manipulation happening right now.

This.
Not the first time we see it and surely not the last. Since about 6 months it is with more evidence we can see some people are really looking to push down the price to get some bitcoins as cheap as possible. Fake news, misunderstood statements, and so on, everything is good to use.
I would say it can also be considered as a good sign if these people are really thinking the price will hit up the sky...

This is absolutely right most of us want to buy bitcoin again at a lower price thats a reason there so many fake news regarding to bitcoin potential.
According to the chart of bitcoin we expect a continue falling down because the situation are in downtrend so I think the price will stay to $7k level but hoping it will recover as soon as possible.

[Jating]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

For me its not just the crypto who has gone down in the last 24 hours and Nasdaq and Dow Jones are just up by less than 1%. So its global and let's not isolate crypto market in general. My opinion about decline, it will be short live and I don't think that will go down below $7K. When everything has settled down in the next 2-3 days, the price could go up again in the $8K level.

Something must have triggered this crypto bloodbath again (manipulation?), but I have a feeling that it will not go on another 72 hours without making a break out run again.

[uray]

I don't think the price of bitcoin can be decrease more and hit $6000 or not, but I think the price will stay at the $7K level.

You really cannot predict a bear market like that, we have seen that in 2014 when the price went down drastically and that can happen even now and the market might recover at a later time.

What I see from the live bitcoin chart just few minutes someone sold a large amount of bitcoin and I think the price could decrease more soon.

There are many early investors who are having a huge stash of coins who opted the big blocks and it is possible that they are selling off their coins, they could really have a big impact on the price if they plan to sell ten percent of their coins.

[STT]

Never think in straight lines only, a profit would be far too simple to make if we just moved in an obvious up or down.   Problem is the market whips back on a complacent market as soon it presumes we go down or up.   Way harder is viewing the overall trend without alot of noise.

My guess right this moment is a long term trend up will have to be confirmed at least as a ceiling before we can become more bearish or get this 6000 target downside people are thinking is likely.    I dont see BTC is especially negative but who can tell what all around the globe feel about BTC right now.

Here is a couple of examples below of the trend line sloping upwards and how BTC price reacted to it.    The bottom price in Feb and April, the important note is right now we are below this uptrend.  I believe we will return to $7900 before any great selling

 

[pooya87]

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Disagree. Some altcoins are gaining an increase in terms of their bitcoin price value so it's not a whole market.
~

there are always a bunch of random altcoins that are getting pumped even during a market wide price drop. these are considered exceptions and you can't talk about them as a rule. all the rest of the ~1700 altcoins are getting dumped.
they may show a rise against bitcoin for a couple of minutes during a sharp drop just because of the arbitrage trading bots but it will be fixed soon and they go down against both USD and BTC.

[magneto]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

I think that there is going to be a bounce before prices actually settle under $7k, as there is still support to some degree at the $7k level. However, as I've stated before even in the midst of the rally, we're still quite bearish.

With this correction, I do expect us to go down to the former support of $6.8k eventually, potentially even lower before the recovery takes place.

Even though I'm not optimistic in the short term, doesn't mean that it means the same thing for the long term. Long term, I'm still bullish on bitcoin, and this huge fall just means more opportunity to accumulate cheap coins, imho. Do some dollar cost averaging, and buy at regular intervals. You never know when it's going to bottom, no point trying to time it perfectly.

[Ararbermas]

The price of bitcoin is going down and it has crashed whole market. There is almost 10% decrease in price in last 24 hours and still going down. What is your opinion about this decline?? Will it be going more down towards 6000$ or it will stop at 7000$.

this is what we could manipulations mate not a decline because of some causes which is from 10k to 8k . and the reason behind why the growth rate constantly decreasing it is because of some weak hands that can't control their emotions after the fluctuation which is they are dumping as well to protect their money on it even had loses. So indeed we can't call it declined 'cause it's just a panic selling made by some noobs who always rely on others predictions.  Lol by the way in my view on this bearish the value will not go further and yes perhaps 7k is enough.

[pealr12]

Its not new to some people cause some already predicted that bitcoin will drop at 4000$ or even lower,but still the price is  high compared last year when bitcoin is only 1000$.