Will Bitcoin Go Below 6000 USD? Prop Bet

[tokeweed]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

Edit:  Prop bet added.

Anybody wanna put their money where their mouth is?  Since it's near the what I think is the 6000 USD floor, would anybody here wanna bet against me 8 to 1?

I say BTC won't go below 6000 USD for your 80 bucks vs my 10 bucks (I could go up to 50 for your 400).

Terms would be:  

If BTC goes below 6000 USD, it should stay there for at least two weeks to be considered actually 'below 6000'.

If BTC goes below 6000 USD for a week (for example) then goes back up and then back down again, the counter for the 'below 6000 two week time frame' goes back to zero.

We use Bitfinex's BTC/USD price.

Bet is only open while BTC is above 6500 USD.

*Bet is only available til the end of June (2018).

Bets would only be open to very trusted members and gamblers in hilariousandco's FIFA and EPL betting pool.

*If ever somebody bites and bets against me, it will end on December 31, 2018, midnight (forum time).

Anybody?

[nl247]

I would say below $6k is a bit uncertain but there is actually a huge chance and possibility to see it happen. Firstly we just broke out from a wedge formation which was believed to lead us lower and we broke the support formed by the lower trend line of that wedge around $6800, so that makes it a possibility to lead us down towards $6400 (a low formed on the 1st of April) or around $6000 formed round 6th of February). Now, a break below this last support would obviously lead us way lower which could be a rapid one.

However, the volume on breakout is a bit low, as I was expecting a whole lot more after breaking that wedge, so this makes me to wonder if the possibility of all that I have said in the first paragraph could actually come into play or we should see a good bounce back up with the possibility of a double bottom forming, but I guess we will live that for time and trend to decide.

[Denker]

It is possible yes. But how likely is it? Hard to guess. I'd say we could stay above 6000.
The fundamentals are extremely good. And without some absolute serious mega FUD I can not see us go below 6000, especially not for a longer period of time.
If we should go down, I will buy whatever I can. Orders are placed.

[1Referee]

According to the bottom development cycle not, but retail panic ignores everything that makes sense, so it's not entirely impossible.

Good thing is that between $5000/$6000 there are several layers where massive buy support is likely going to kick in, and for that reason it would be smart to have some fiat that you can use by that time.

Currently the price is still hovering above the price that could be seen as somewhat important, which is $6500. If it falls below that, a test of $6000 is pretty much guaranteed. If it falls below $6000, a test of November 2017's bottom of $5555 will happen, and if that doesn't hold either, we have $5000 to act as an obstacle.

As long as there aren't actual bullish developments, the market will remain unmotivad, which is why I have pointed out several times before that we aren't done with sub $10,000 levels for the rest of this year.

[jadenunderhill]

Of course, it will. Next resistance level is 5.800 and then going straight to 2.500. For a few years. Enjoy

[supermine]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

No,it will not go below $6000 because even in this year there were lot of bump and dump happened but it doesn't go beyond that $6000 so for now $6k is the bottom level and it is my own opinion I didn't do any technical analysis because most of the time it becomes false.But yesterday there is a huge dump occurred which may triggered the panic button among the newbie investors so now the price is slightly below $7K hope it will bump back soon.

[Pursuer]

I am going to go ahead and say it is go below $6000.

but not because I expect it to, not because it is possible to reach that price, not because some analysis says it, not because of supply and demand, not because of support levels, and certainly not because I want it to.

but simply because of the same reasons why it went below $10k and then $9k, $8k and so on. dump, dump and more dump followed by FUD and a lot of false news and panic.
we had a ridiculously strong support at $10k but it was broken. price wanted to go back above it but it wasn't allowed, it tried again two more times and it wasn't allowed to break it and it was constantly pressed down so far. and this pressure has not been lifted and also it has not yet reached that time when it can no longer fight the power of the rest of the market combined.

[UnDerDoG81]

I´ll say yes. We are at 6700k and there is still no run on bitcoin. Why should we stay over 6k then? This happened many times. They drop the price in weekly patterns with sell attacks. From 10k to 9.3k to 8.5k to 7.7k to 6.7k and so on. They will do this until they trigger a bull run. I can´t imagine we´ll see 5 digits until 2020. Just my oppinion...

[khaled0111]

Apparently, Bitcoin started recovering and it will reach 7k soon.
I don't think it will go below 6k Dollars because many investors are buying right now because they believe it is the lowest price Bitcoin can reach.
I hope other members can explain why they think it will go up or down with solid evidences and not only giving assumptions.

[mobnepal]

If we will start to create thread like this for every $1k we loss in price than first page of speculation will be full of just whether price will go below/up from certain price range. 

We are currently in bear market so price will always tend to go down and some massive dump within a hour period is also quite normal like what we have seen last night that is why we are below $7k.

I don't see any other reason than some whales cashed out last night which cause massive dip and soon market will recover.

[UnDerDoG81]

Apparently, Bitcoin started recovering and it will reach 7k soon.
I don't think it will go below 6k Dollars because many investors are buying right now because they believe it is the lowest price Bitcoin can reach.
I hope other members can explain why they think it will go up or down with solid evidences and not only giving assumptions.

Where do you see a recovery? People said this after each drop. Don´t get me wrong, I want to see Bitcoin @100k. But face the truth, we won´t go anywhere anytime soon. Some people simply don´t want it to.

[liuqi]

This scenario really good for Bitcoin hunters so it will reach 6000 USD is possible and peoples are buy more Bitcoin automatically this will reach more than 7000 USD also possible so we should not exactly predict the Bitcoin future. I hope bitcoin will reach more than 10000 USD in next month and many looking to Crypto payment system so it will move big hype in future.

[BrewMaster]

I´ll say yes. We are at 6700k and there is still no run on bitcoin. Why should we stay over 6k then? This happened many times. They drop the price in weekly patterns with sell attacks. From 10k to 9.3k to 8.5k to 7.7k to 6.7k and so on. They will do this until they trigger a bull run. I can´t imagine we´ll see 5 digits until 2020. Just my oppinion...

we reached ATH on first month of 2018 so you are saying this time to see price back to normal level ($10k) not even the ATH we need 2 full years. i seriously doubt that it is going to take that long this time.
but i agree with the other part, the "sell attacks" will continue for a long time until we reach that sweet bottom.

[Lazada]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

I think all things could happen to Bitcoin. So there is not a thing that can be ascertained because the price changes that always happen make the market very difficult to predict. which I believe is that Bitcoin will continue to develop and I am optimistic it can get better, the decline will not last long and everything will change for the better.

[almersyn]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

I do not know in detail about the effect of Bitcoin's current downturn. It seems to me too bad if Bitcoin will cost under 6000 USD. But we hope Bitcoin will experience a positive trend over the past year

[paul00]

As of today were above 6000 USD and yes it is possible to go down low as you mention because no one really knows when at how will it go down or go up but the one that really matter is that we should stay possitive in this moment don't panic.

[Tzupy]

Weekly MACD went deeper into the negative, and 12h, 1d and 3d MACD also look quite bearish short term.
It's not yet impossible for the market to recover, but my favorite scenario is now an intermediary bottom around 4,500 $, and final bottom around 3,000 $.

[batang_bitcoin]

Yes and No.

Yes, The possibility and chances that it will go below $6,000 is already there because of the current price of bitcoin which is between $6,000 - $7,000.

No, I've been bullish on bitcoin and I think that we're totally done with this bear off soon and it will recover in a while.

[LFC_Bitcoin]

And discuss why or why not?

I just wanna know all your opinions.  I was also gonna make this a poll, but I think the discussion 'why' (or why not) would be better.

Let's also have some fun around in the thread...  

I’m going to HODL my coins until at least 6-12 months after the halving in 2020 so the proce faloijg atm shouldn’t bother me as my get out point is still a good while away......but it does bother me.

I hate seeing the price fall & I think it’s manipulated to fuck, whales shorting & fucking up the market. I even think Wall St & governments are doing it too.

So to answer the OP, unfortunately yes, I think the price could go sub 6k.

We’ll reach a new ATH before or a year or so after the halving any way though, bitcoin ALWAYS recovers.

[LFC_Bitcoin]

Of course, it will. Next resistance level is 5.800 and then going straight to 2.500. For a few years. Enjoy

No coiners like this ^^ don’t help the mood on here, manipulating noobs etc



Edit - Look at this losers post history