Can Bitcoin hold $6,075.04.

[poplolnman]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

I think that bitcoin will drop to a level  $3k -very strong support on the monthly chart. it's summer now, which means that the assets will be sold from the stock exchanges and the market will falll down more.

Damn , it's an extreme prediction lol , I could make a bet that there no more drop even 5k support broken , the market healthy enough now , as you said it might due summer time come and investors feel have to cash some assets, it could be due the crypto regulation massively applied and of course after the markeT sideways few weeks ago turned to a strong bearish until today .... The doubts on Bitcoin getting bigger but still Bitcoin too big for now to fall again to over 50%. Just wait for the momentum to buy at the dips.

[1714127001]

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[nobetci]

The price of bitcoin is above $6300 now. Although I have some hesitations about its next prices, I believe that it can have a big rising after the ending of this bear season.

[the1arty]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Cost of mining if I am correct in China is about $3500+- and we can go to that level. However, next levels could be $5k - very psychological price.
By the way, we saw miner in China been working for a loss previously for short period of time. However, in the longtime crypto community is growing, thus long-term price may grow quite a lot.

[jeffthebaker]

My technical analysis suggests that the true bottom will be $6,044.72. So no, the magical $6,075.04 mark will not hold  

But in all seriousness- whether we've hit the bottom or not - most of the bear trend has ran its course. If BTC drops to 6k or holds at 6.3k, or falls into the 5k range- doesn't really matter. It will hit 19k and beyond again eventually, and I think the trend of everyone losing money is nearing its termination.

[jeffthebaker]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Cost of mining if I am correct in China is about $3500+- and we can go to that level. However, next levels could be $5k - very psychological price.
By the way, we saw miner in China been working for a loss previously for short period of time. However, in the longtime crypto community is growing, thus long-term price may grow quite a lot.

Recent post on /r/Bitcoin suggested that institutional investment is waiting to the point where miners are in danger of losing profitability. I imagine that some of the inefficient and higher electricity cost set ups are beginning to approach that point in time where they are gonna be dangerously close to mining at a loss. When we get to the point where hashrate stalls or even reverses due to the decreasing prices (which may be dangerously soon?) Things should begin to shape up for the better.

Here is the post https://www.reddit.com/r/Bitcoin/comments/8qfbwd/heres_what_institutional_investors_are_waiting_for/

[waynechong1995]

Cruel fact is btc is still pricey compared to months ago, even with the downish trend, 5k is possible, or even 4k but rhats means many existing altcoin would die out of lack in values as well less adoption as more speculator would be rather than genuine users. I believe couple of FUDs btc would be back to 5k

[rommelzkie]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

We need to wait for more confirmations. If you look into the chart, btc price can still go lower and lower. My advise is Do not catch the falling knife it will surely hurt you.

in my opinion, The ideal price for bitcoin now is 5,000. but if we saw huge BUY volume on 6,000 price level that last for a week. then there is a chance that btc will bounce at that price.

Take a look at this analysis https://www.tradingview.com/chart/BTCUSD/mVUZLkaJ-OH-NOO-My-2014-Comparison-is-Alive-Reversal-at-4-888-7-USD/

[Mr.Coinzer]

Appears lke you anticipated it right, we are currently about 6,000 USD now. Perhaps we will begin to bob from here, in the event that we don't ricochet we will see 6k or possibly beneath that. Be that as it may, how about we pause and watch the graph!

[renault18turbo]

The main thing is that the price of bitcoin would not fall below 6 k $. It would be like a disaster for many altcoins. I feel sorry for those investors who appeared in the crypto-currency world in December-January.

[Matcuda]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Just wondering where you got this number, with such a slow fall if it continues for another month, it may be lower. Summer is not a time when investments will increase and capitalization will return to its former level.

[Idrisu]

I think bitcoin has hold that level and I think it is now at the recovery face.  If all things been equal we should expect another little upwards movement towards $7,000 and $7500. I believe that we are at the time when it is hard to invest in cryptocurrencies but those that are able to invest now are going to get big profits in future.

[acheampong64]

I also saw this somewhere that if Bitcoin is able to resist breaking the $6000 line, then we're in for a bullish run but if it does the bearish continues for sometime more. Let's hope for the best anyways

[lablab03]

 Yes it will keep holding on that price even the market still not fine nowadays. beecause that is the original bottom price and no one can break it to push bitcoin value into cheap . Which is indeed it's been how many attempts since the long bear season ended last few months and it always survive after it touch 6k value. . So for sure it will stay above  6k until the month of june end.

[eth9888]

In short, no.

[ReiMomo]

Correct, Bitcoin price with such a low can be used for buying and filling our bags for good profit in coming days. The price of Bitcoin is all time low for this year and this is the perfect time to invest and buy some and keep it for future profit. Bitcoin will rise its price probably within July to double from the current price and we can see double profit.

[batang_bitcoin]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Magic number? or you just want to express that you really want bitcoin at that cheapest price? 

Don't worry, the price seems to be in good recovery today. It was at the bottom of $6,200 and now it's moving up and has finally recovered quickly for this day.

As I'm posting this, the price is $6,501.

[bengsabeng]

as far as I know bitcoin has not gone down to that price, currently the bitcoin price has started to rise again and reaches the price of $ 6500.
you should continue to monitor the market because the market is in a bad state right now.

[iram1011]

Bitcoin tested the long-term floor around $6000 which is right at the bottom of the descending triangle visible on longer-term time frames. I believe this jump of BTC to $6500 to be a temporary one. Bitcoin is making lower highs which means it is ready to test $5800 level, next. The 100 SMA is below the longer-term 200 SMA which means that Bitcoin is most likely to break lower support levels instead of going back again to $8000. Market is expected to see more bloodshed in coming weeks.

[jamesashmore1964]

If $6,075.04 is not breached it will be a good opportunity to buy in on BTC and ALTs
This could be the magic number!

Cost of mining if I am correct in China is about $3500+- and we can go to that level. However, next levels could be $5k - very psychological price.
By the way, we saw miner in China been working for a loss previously for short period of time. However, in the longtime crypto community is growing, thus long-term price may grow quite a lot.

Recent post on /r/Bitcoin suggested that institutional investment is waiting to the point where miners are in danger of losing profitability. I imagine that some of the inefficient and higher electricity cost set ups are beginning to approach that point in time where they are gonna be dangerously close to mining at a loss. When we get to the point where hashrate stalls or even reverses due to the decreasing prices (which may be dangerously soon?) Things should begin to shape up for the better.

Here is the post https://www.reddit.com/r/Bitcoin/comments/8qfbwd/heres_what_institutional_investors_are_waiting_for/

In addition over half the miners are in China: This worries me because the Chinese Govt are capable of anything!

[jamesashmore1964]

Bitcoin tested the long-term floor around $6000 which is right at the bottom of the descending triangle visible on longer-term time frames. I believe this jump of BTC to $6500 to be a temporary one. Bitcoin is making lower highs which means it is ready to test $5800 level, next. The 100 SMA is below the longer-term 200 SMA which means that Bitcoin is most likely to break lower support levels instead of going back again to $8000. Market is expected to see more bloodshed in coming weeks.

I have read this point of view also BUT the bottom line what can you believe. I think no one knows!
Also bad news can be published any tick of the clock!