BTC Moving towards 6000$

[gabmen]

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.

Well that's what people should be focusing right now instead of making negative speculations. I'm quite unconvinced that we're going to hit that low but then if it does happen, might as well buy more. That's what i've been doing all these times

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[The Sceptical Chymist]

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

I've been tired of shitcoins for a long time now, not that they ever held any real appeal to me.

As far as if bitcoin is going to keep dropping:  I have a feeling it's not, but my feeling isn't based on any data.  It's just a hunch, and yes it's a pretty damn steep slide we've got going on here.  We're a long-ass way away from bitcoin's ATH, and it's obviously a long road back to it.  As I've said in other threads, however, I do think the bull market that was in progress last year isn't quite over yet. 

There hasn't been any real news lately that I've read, and it could be that sentiment is turning somewhat negative.  It's very hard to tell, but my thought is that bitcoin has been pounded about as hard as it's going to be.  Probably it's a good time to buy.

[tomahawk9]

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.

"invest only what you can afford to lose" 
just hold your coins and don't panic, prices might recover in the next few days.

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.

It happens from time to time, some whale decides to dump, and then the weak hands enter panic mode, I think only difference from the other drops we've had recently was that we were already in a downtrend before the big drop yesterday, and the sell-off was quite substantial. But yeah, it seems like we've recovered a bit, hopefully, the downtrend is over (or at least the massive dumps).

[BrewMaster]

despite what OP and some of the posters in this topic think, just because price has gone down a certain amount so far it doesn't mean it will continue on reaching your desired price.

and this drop was not any logical drop like a correction or anything like that. this has been a lot of manipulations and FUD going into pushing the price down and this type of drop is never predictable and also never lasts long.

[Slow death]

What is your opinion about this decline??

this is something normal if we take into consideration that bitcoin is suffering pressure from many governments, then it is expected that there will be a decrease in price

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

honestly I hope it does not fall below $6000, a drop below $6000 will trigger a big panic

I've been tired of shitcoins for a long time now, not that they ever held any real appeal to me.

some people become very rich with these shitcoins, unfortunately there are people who do not have feelings, create a coin just to deceive other people and steal money from them, this is something very cruel.

[Cryptodaddy05]

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$.

No one can state for sure what will happen with the bitcoin price of course, which at $7.5K currently is down ~25% from it’s high this month of ~ $10K on May 6. My impression though is that there is significant buying suppprt at the $8K level, and I think $7K is likely to be the floor price of this down market we’ve had for 6 months now - and that any drop below that to $6.5 or $6K would only be a short lived thing for less than a day like what happened on Febuary 6.

[DeadCoin]

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.

 there are chances to go back to 6000.  Let's just wait and see if the bitcoin price goes to the Moon soon in this month as we again see this correction after a month.  At times this can be a push to next peak.  Every altcoin is well are on blood path.  Though it's nature of crypto, investors look for time to gain profit as well.  Hope to see a hike soon.

[Lumada]

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.

  there are chances to go back to 6000.  Let's just wait and see if the bitcoin price goes to the Moon soon in this month.

June might be a good start of green days, we hope to see a brighter days for crypto since it making too slow in progress of having ATH. we should have more patience till it goes to the moon.

[cakravothy]

this now bitcoin price 7500 dollar
i think bitcoin price still above 7000 dollar
but if bitcoin price down to 6000 dollar, because price can down again to 5k dollar

[shulio]

There is a strong support at 7000 dollars. The fall of the price do not touched the 7000 dollars yet. The fall seems stopped. It will take 3 to 5 days to decide the way, up, or down.

[yanlap]

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.

Well that's what people should be focusing right now instead of making negative speculations. I'm quite unconvinced that we're going to hit that low but then if it does happen, might as well buy more. That's what i've been doing all these times

Well right now the market price is more than $75000 and it was more than $8500 a month ago. So there is a rise and fall in the prices of Bitcoin and things look like the rise and fall will keep going for some time until it will boom. SO this is quite possible for Bitcoin to fall again to the $6000 value but it is also possible to Rise to $30000 in future.

[Ewinsane]

There is a strong support at 7000 dollars. The fall of the price do not touched the 7000 dollars yet. The fall seems stopped. It will take 3 to 5 days to decide the way, up, or down.

It is not going to get down to 6000 dollars in any way because the prices have been stable roughly for a month at least. There is not much chance for bitcoin to go down again because this is the time for the coin to touch the sky and make all supporters jubilant. I am saying that now the market is on recovery track, so no need of worrying about any other big decrease in the values. Just stay optimistic.

[verguat33]

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!

I actually do not understand why people are so eager to know what the market brings, when the market will actually give us the answer in its own due time. We cannot say for now how far the market is going to go way down or when it is going to get to bounce back up but one thing for sure is that time will tell. We still have some support that could be broken, and we still have some resistance that would need to be taken out of the way, so, I guess we will have to wait and see how things turn out.

[Emitdama]

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.

Well that's what people should be focusing right now instead of making negative speculations. I'm quite unconvinced that we're going to hit that low but then if it does happen, might as well buy more. That's what i've been doing all these times

What any wise person would be thinking as an investor anyway. Usually, traders will always have the upper hand always in a volatile market based on their chances of selling when a support is broken quickly and buying way back lower. However, for an investor that may not know how to work out those moments, the best thing is to just hold and look forward to buying more at the dip. We are all traders anyway and it is just the time difference in making trades that differs.

[Rooster101]

That will be possible if there is a big negative development that make the bitcoin price to go down. The recent hacking of south Korean exchange cause only some minimal dip in bitcoin price and still staying at $6600. Factors like hackings can make a significant dip in bitcoin price if the value of the hacked coins is big. But no one knows exactly when will the bitcoin go down to that price level.

[giantrobot]

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$.

Another topic is talking about the decline of bitcoin. When people stop talking about its decline. For me, it's very normal, because after the boom is a dumpster with a lot of bad stuff.

[melkola]

Bitcoin is very peculiar. There are too few factors that can strongly influence him, my opinion. Yes, there are some negative points that move the course a little. But so far, I don't see anything terrible that could finally drop the course.

[iram1011]

If this pattern follows, price might fall below $6000 and can dump to the $5k levels. But lately, price isn't really following the technical analysis. But technical analysis is showing a bear reversal which will stop at $5200. If price from here gains a volume to breach $6850, we will see a bullish reversal, else we are heading in deep bearish zone. But price manipulation is so high that nothing can be said with certainty.

[ajochems]

Now the price of bitcoin is reduced to 6170$,this is the one of the lowest value reach by bitcoin.The main reason for the fall is hacking of million of dollars.It occur in this week and many new investors start to sell their bitcoin due to this news.They may got panic and sell due to lack of patience.Patience is the essential only to escape from loss.

[Denker]

Now the price of bitcoin is reduced to 6170$,this is the one of the lowest value reach by bitcoin.The main reason for the fall is hacking of million of dollars.It occur in this week and many new investors start to sell their bitcoin due to this news.They may got panic and sell due to lack of patience.Patience is the essential only to escape from loss.

That's not true. The reason we are going down now has nothing to do with the Bithumb hack.
We retraced shortly after the hack, that's true. But we also moved up with the Tether announcement just a day later.
Today's down move is just the market, and not news driven in any way. However we had really good news today. I looks like the Mt. Gox trustee doesn't need to sell anymore coins.