BTC Moving towards 6000$

[Kemarit]

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$.

As compare to the start of 2017 when bitcoin price is below $1000? Yes the current price is like X7 and that's something to cheer about. But the problem is that there are a lot who FOMO and bought bitcoin around the 5 digit mark and they are the first one to bitch around when the price is going down. Well, the price seems to really move down very fast as there are news that regulatory body from USA and Canada are doing a coordinate investigations on ICO, sadly though is has put a lot of pressure on the price that's why it plummeted in the last 24 hours or so. But I believed that there are strong support at $7000 at least, so we not might see it going below that price in the next couple of days.

[1714012074]

1714012074

[BitHodler]

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.

I do so too. External manipulation doesn't necessarily have to be a bad thing because of how we can take advantage of it as well. It's like they do the work for us, and we just ride the market how it comes.

I can definitely understand that people get upset about current market, but that's what they bought themselves into, so it's up to them to conduct proper research before blindly putting money into something.

Concerning the current manipulation, I observed very suspicious activity during massive on-exchange dumps and large short positions on BitMex just before that. If it happens nearly every time, it's no longer coincidence.

It could allow you to do the same, but I am not into that sort of 'luck based' trading. I am not here to book quick gains.

[superving]

Then its an opportunity to buy cheap bitcoin, im waiting bitcoin to go down deep at 5000$ there i can now buy bitcoin cause that would be last time we will.bitcoin hit that lowest price this year.

[livingfree]

I'm hoping that it will stop at $7,000 and won't go further to the bottom ($6,000 - $5,000 and so on).

Big investors won't buy @$9,000 and $8,000 so they have to do something to pull the price down and to get a nice entry point.

[fourpiece]

I dont like this happening in bitcoins price , my portfolio has been down by almost 50% and im so scared if this continues to go down then its time for me to sell all my holdings.

[Thirdspace]

Will it be going more down towards 6000$ or it will stop at 7000$.

I think it will bounce back up soon with lowest around ~$7000
if it does break $7000 then probably just a little bit below it, perhaps around ~$6900
then it will recover back up to previous steady price at $8500-$9000

[Ewox]

I think it is going down to $6k and once it hits that amount, it might bounce back but I dont know to what amount it will bounce back though.

[tomahawk9]

Something must have triggered this crypto bloodbath again (manipulation?),

Manipulation might be right anwser, these massive dumps don't happen at random, either whales got scared about something and began exiting BTC (could be due to the news about the US Government launching a criminal probe into manipulators?), or the whales are simply trying to tank so that more whales can enter the market at low prices, either way, long-term holders are happy for this great opportunity to buy cheap (:

[Eleven86]

All are think like this but it struggles to move towards 6000$. All week somewhat the market is better, but todays market goes very low. No one expect this much of downlines. Dont know when the market will recover and again the price starts to increase. We can make this opportunity to buy the bitcoin. Because in future the price will reach high at that time we cannt able to buy.  Hope soon it will cross 6000$ lets wait and see what changes is going to happen in the market.

[batang_bitcoin]

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.

[1]I do so too. External manipulation doesn't necessarily have to be a bad thing because of how we can take advantage of it as well. It's like they do the work for us, and we just ride the market how it comes.

[2]I can definitely understand that people get upset about current market, but that's what they bought themselves into, so it's up to them to conduct proper research before blindly putting money into something.

Concerning the current manipulation, I observed very suspicious activity during massive on-exchange dumps and large short positions on BitMex just before that. If it happens nearly every time, it's no longer coincidence.

It could allow you to do the same, but I am not into that sort of 'luck based' trading. I am not here to book quick gains.

[1]As I grow to the market before I've been always thinking that these manipulations were totally bad but I've come up to that conclusion.(the bolded part).
[2]Everyone only wants bitcoin to fluctuate higher and higher for the profits sake so well, if expectation didn't go according to what they are thinking that's upsetting comes.

Btw, does anyone think that this temporary dip was caused by bitcoin gold's double spend attack?

[thecodebear]

BTC is currently in a months-long wedge/flag that closes in the next two months. Right now its near the bottom of that wedge so unless Bitcoin really breaks down it is much more likely to go back up to 8000s soon than go back down to 6000.

[peter0425]

Something must have triggered this crypto bloodbath again (manipulation?),

Manipulation might be right anwser, these massive dumps don't happen at random, either whales got scared about something and began exiting BTC (could be due to the news about the US Government launching a criminal probe into manipulators?), or the whales are simply trying to tank so that more whales can enter the market at low prices, either way, long-term holders are happy for this great opportunity to buy cheap (:

Yes, I just read that US is launching a criminal probe into bitcoin price manipulation that's why the price reacted in the negative way. Although lately is been a struggle, but with this sort of bad news coming along, its no surprises that the market panic and the domino effect follows. I'm not sure if we are going to $6K again as I'm seeing a nice gain and the price is moving to $7500 range already. Maybe investors saw $7200-$7300 as a bottom and didn't wait for it to go down even further.

[Kylapoiss]

I dont like this happening in bitcoins price , my portfolio has been down by almost 50% and im so scared if this continues to go down then its time for me to sell all my holdings.

Are you in for long term or quick profit? If the latter then you are in the wrong place, getrichquick thinking can make you much poorer than you were before investing. If you are in for the long term, then delete blockfolio/delta or whatever app you're using and don't look at the prices for a few months. So you wouldn't do any emotional decisions. BTC will thrive in long term for sure.

[Kylapoiss]

Will it be going more down towards 6000$ or it will stop at 7000$.

I think it will bounce back up soon with lowest around ~$7000
if it does break $7000 then probably just a little bit below it, perhaps around ~$6900
then it will recover back up to previous steady price at $8500-$9000

I'm guessing we're going to retest the 6600 levels from February, if it goes further down from there, then nobody knows where it might go. Good time for buying nevertheless.

[Fuhre]

now all being Being the same boat facing this price decline, it seems the price will continue to decline until the end of May. my opinion, the price will stop in the range of $ 6,800 and will start again to reflect the price to the next level. big rallies will occur in June until the end of 2018.

[Cacingkemi]

The decline that occurs briefly and if in thought this is already the 3rd right? does't seem to fall on the value of 6K,this is actually the original growth of BTC if the fall does't further than the previous correction.A good start for market value in ALT should be the time to grow others while BTC is falling and I think this dump is great .

[Anait]

Don't know what will be the bottom line of bitcoin. At present the price is staggering around the $7300. Hope this will continue for few days and further the forward move will begin. Price towards $6000 is a good buy and needs the patience to hold and benefit as none knows when the further rise gets ignited.

[1Referee]

Concerning the current manipulation, I observed very suspicious activity during massive on-exchange dumps and large short positions on BitMex just before that. If it happens nearly every time, it's no longer coincidence.

It's a multi profit way, so from that perspective I really can't blame whales for using BitMEX and other platforms to short trade the market. All the lower side adjustments we are seeing are artificial dumps. If these dumps don't occur, the market will slowly crawl back up, but the whales toying around don't plan to let it recover, so the game continues.

I personally think that there is around 10% of downward potential left, so it might be a good moment to enter, or at least consider to do so. If the bottom development is following its path, then the next bottom is either just over or under the $7000 level. I made a relatively small purchase slightly below $7400 which I am happy with. It might be the last ever chance to buy at such levels, so better utilize it while you still can.

[Altas]

I believe that the price has begun its forward move, because after it going close to the $7000 tag now it has grown above the $7500 which looks good and gives positive impact upon the growth. Another thing is the growth with other altcoins together with bitcoin making the network flourish.

[Denker]

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$.

Before speaking about $4000, let's see if market can be pushed down to $6000 and then $5000.
Most of the talk or 'prediction' is just pure fear mongering by some certain people. They probably have opened some serious short positions.
As a bear you try to FUD and make people to sell their coins. More profit for you and a nice entry price to buy in.
As a bull you try peopple to FOMO in to the market. That's in pretty simple terms explained, all you need to know.
Very good traders are also good in playing with other peoples' emotions!