Will Bitcoin Go Below 6000 USD? Prop Bet

[richardsNY]

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

It's nothing more than a cheap kwukduck impersonator. I find it quite interesting actually to find out what's driving these people to act like that. I think it's pure bitterness because he bought way up last year, or he's just trying to kill time, or both. I don't mind these people because they can't impact the way I think about Bitcoin, and more importantly, I never have any type of high expectations when it comes to the short term market. Institutional capital will lift this market up once they have the clarity on the regulatory side, and of course their playthings to enter this market with longer term exposure. Institutions don't want to mess with exchanges, but want to deal with 'trusted' platforms as CME, CBOE, NASDAQ, etc.

[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

It's nothing more than a cheap kwukduck impersonator. I find it quite interesting actually to find out what's driving these people to act like that. I think it's pure bitterness because he bought way up last year, or he's just trying to kill time, or both. I don't mind these people because they can't impact the way I think about Bitcoin, and more importantly, I never have any type of high expectations when it comes to the short term market. Institutional capital will lift this market up once they have the clarity on the regulatory side, and of course their playthings to enter this market with longer term exposure. Institutions don't want to mess with exchanges, but want to deal with 'trusted' platforms as CME, CBOE, NASDAQ, etc.

I think a lot of the time it’s people who can’t afford to buy in, even now. Maybe they heard about bitcoin in 2012 & laughed it off but now wish they’d invested but it’s too late.

Or maybe they were uber early adopters who sold everything before we even hit $100.

One thing’s for sure the bitterness in their posts suggests they’re upset about what bitcoin has maybe done to them.

[timerland]

There's a high likelihood that this could happen. Obviously $6.7k seems to be a pretty strong support right now, but I don't think that is going to be the bottom of this bear market. Based on price history, prices usually fall by 80% or more from an all time high before finally gaining support at the bottom.

Also considering that the market is still extremely bear-sentimented, and that $10k resistance is so strong, it's hard to see a recovery happen any time soon.

Combining all of these things, I think it's fair to say that BTC is near its bottom, but not quite there yet. There is most likely some more room for prices to go downwards before stabilizing. I think that the prices is definitely going to be lower than $6k at some time of this year.

[Zlatna Kopa4ka]

Hate to say it, but I personally that anything is possible with Bitcoin nowadays. Its not very far off from that value, that is why I'm saying its possible. I also feel like if it does happen, if the price goes below $6.000 it will eventually bounce back stronger than ever.

[Carterwyang]

I do not think that it will happen unless that there is a major FUD around here, but the price is good at the moment, it is a good entry point for newcomers in here.

[tokeweed]

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.

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

Anybody?

[sunanbonang]

no, before the bitcoin price reaches the $ 6k price the market is back green. that's a sign of bitcoin prices have started to rise again. I'm glad the bitcoin prices do not drop below $ 6k

[TwSeventh]

no, before the bitcoin price reaches the $ 6k price the market is back green. that's a sign of bitcoin prices have started to rise again. I'm glad the bitcoin prices do not drop below $ 6k

did you remember when people said it won't go under $7000 when we're breaking $7800 level a week/s ago ?
look at it right now.
it has a possibility to reach that point or even below that if we are looking at technical analysis,market sentiment and our current news.
but personally i do hope we are making a reversal trend.
it's so boring to see it going this way and everything is bleeding along with it.

[Nahl]

i would not bets for this but i have to says bitcoin will never fall to $6000 below even today there was small movement that bitcoin back to $6500 above however i was wondering what factors makes bitcoin looks stuck at $6500-$7500 and seems there was the particular factors to avoid bitcoin price rise up more higher

[wriizo]

By the looks of it, lets be honest here, its not far off from that dollar mark. I remember people were writing that it wont go under the eight or seven dollar mark. These days its not easy to predict how prices are going to move, so I just could be writing nonsense here. Its us, the people who will determine the value of Bitcoin. Even if it goes below $6000 I highly doubt it that it will stay for long.

[Kronos21]

Theoretically, the price of bitcoin can be reduced by $ 1900. After this threshold, miners will start to stop the equipment. I think that bitcoin owners are not ready to sell coins at such low prices. This will deter speculators. I am pleased only that someday speculators will raise the price of bitcoin in order to sell their coins more expensive. I'll be waiting.

[XCANA]

Well the way things are going it is very possible that Bitcoin market value may likely decline below  $6,000 and touch $5,000 if not below the said amount in the nearest future. And if it eventually happen then that will create an opportunity for investors to buy at a cheaper rate and sell later when its value appreciate.

[weblouartisan]

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.

i do agree on that, it might go down below $6k dollars because there are a lot of people who are not really good in trading and they will sell their coins at the lowest price in which will make the value of the coin to decrease even more and it was a good news at the same time since we can invest a huge amount.

[Welsh]

I don't normally to this kind of speculation, but I'll add my two cents for anyone willing to take the OP up on their bet.

In my opinion the recent downward trend was directly related a few whales which have been manipulating the market. If you combine this with the predicted stabilization that has been threatening to happen every since Bitcoin hit it's highest value ever then it's certainly not impossible for it to go much lower than 6000. I'm not willing to put my money where my mouth with this one though as I do hate to speculate.

Even though I say that it could go down much lower than 6000 I don't think we'll be seeing that happen. I think a realistic figure would be somewhere around 5000-5500.

[GoodLuck2]

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.

Anything can happen and we can expect because bitcoin is a digital currency and ups and downs occur in the price of digital currencies. In the present there are no chances that it will go below 6000USD but yes it can happen because everything is possible. Yes, it is possible for bitcoin but I think it can’t happen in the present or near time because its demand is rising day by day, which is constantly increasing the price of bitcoin.

[eth9888]

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.

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

Anybody?

You did not mention WHEN is the end of this bet.

[RemarkJohn]

My opinion is that it’s very much 50/50 for Bitcoin at the moment, it’s possible it could be completely obsolete and useless in less than a few years as more and more contenders for the top spot develop and build better running block chains.
Or, It could very well go to the moon which is why now would be a very good time to buy in if you haven’t already.

All in all, just another day in the world of crypto-currency.

[BitcoinNewbie15]

My opinion is that it’s very much 50/50 for Bitcoin at the moment, it’s possible it could be completely obsolete and useless in less than a few years as more and more contenders for the top spot develop and build better running block chains.
Or, It could very well go to the moon which is why now would be a very good time to buy in if you haven’t already.

All in all, just another day in the world of crypto-currency.

That's a possible outcome. However, I don't think Bitcoin is likely to become obsolete. For a few reasons, but mainly because it is has the largest foundation and its scarcity makes it a great alternative to gold for both store of value and speculation. I think because of Bitcoins immutability and capped (low) supply, many will use it to store their wealth. Eventually, some governments could even start hoarding BTC as part of their reserves.

[Altcoins enthusiast]

Nice to hear that people have started betting for this and I think it is possible and it might go down to $5000 in days to come.  The current situation in the market is not too good for investment as bitcoin has been loosing $2,000 to $4,000 every month since January 2018. I don't think bitcoin will grow the same way it do last year.

[magneto]

I think that prices are most likely going to drop below $6000 during this stretch of bear market. We're not seeing any signs that a trend reversal is going to come in the near term, which is why I feel like prices have a lot more room to drop still, before it bottoms and consolidates.

We've actually went through the support at the $6700 level which was the level prices started to rally a little last time, which means that there is probably going to be a panic dump situation again. But the major level to watch is still $6.2k or so, as that was the low of the year.

But anyways, no guarantees that it'll dip below $6000 for more than 2 weeks consecutively, but I think it will.