Why bitcoin will go down below 6000 (explanation)

[tranduc2101]

Bitcoin drops below $ 6,000 because demand buys for Bitcoin by investors around the world drops. But I think the only reason Bitcoin prices are down is the market trend

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[lance04]

I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.

[wuvdoll]

At this point, I really would not be surprised and the only thing that may end up overriding this is for us to break out from the downtrend channel with a very huge volume from here which does not look like a possibility for now. With the way things are going, I feel we have a last leg to that spot which could possibly lead us to those levels anytime soon before any possible short term reversal which I am gladly looking forward to.

When last week of June was full of uncertainty, bitcoin showed its class. Yes, even prices dropped below $6000 levels. it did not hold up there. Immediate bounce back happened. Compared yesterday's prices, market is trading down today but I am not thinking it will move down further.

[mrproblem]

This is what I am waiting also too. I have same idea like in first message in here

[MinerHQ]

Or maybe this is due to the fact that now other crypto-currencies have also started to develop very actively?Why bitcoin is falling is falling all the others.Vicious circle...I also read that at the end of 2017, due to the growth of the exchange rate,many investors sold their bitcoins and these bitcoins got to the traders who are profitable to keep the rate falling.

I believe many investors didn't sell bitcoin around peak price because most of the investors were thinking that in 2018 they can see a new high and most of them are still holding. Currently, investors are worried that governments can put a restriction on crypto trading at any time so they are waiting for a regulation to this market. If that happens then again prices will start moving up. If not, we will see more lows than highs from the current level.

[beerlover]

So far I agree with your explanation but it's too early to give up and panic. Bitcoin is normally has a volatile attitude to counter it just trust and advertise more bitcoin so that many investors are getting involve.

I do as well because if we really want to look at the way things are presently, it is becoming glaring that history is actually somehow beginning to repeat itself. We still have a long way to go though, anything can change at any time, but for now, we sure are on the track of history.

Nevertheless, this does not change anything and we probably are going to be hitting it anyway based on lot of technicalities, so I guess we will have to wait and see how things would evolve.

[crypmike]

For sure, this is just a theory, but this scenario still possible

[Lhaine]

I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.

I thought bitcoin will continue to increase but im wrong and here we are again now, bitcoin going back again on 6k $ and for sure many new investors got panic and maybe some of them sell their bitcoin .

[Ganbound]

I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.

I thought bitcoin will continue to increase but im wrong and here we are again now, bitcoin going back again on 6k $ and for sure many new investors got panic and maybe some of them sell their bitcoin .

You need to harm. I am hopeful that bitcoin price is not gong to break the 6000$ level . I hope that bitcoin price will recover its position very soon and  will hopeful recover our lost, for which we are holding our bitcoin for last one year.

[Fredomago]

I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.

I thought bitcoin will continue to increase but im wrong and here we are again now, bitcoin going back again on 6k $ and for sure many new investors got panic and maybe some of them sell their bitcoin .

We really can't predict exactly how things will happen the next day, we are talking about bull run and a week after this downfall occur again, but the best thing to do is keep on buying and holding though supply and demand really affects the value, there's still some great news to wait like the delayed of ETF the decision will happen this coming september so those who are selling at its cheap value will regret it after the price arise higher than the last pumped, chill down and keep holding.

[loveinberlin]

Thanks for sharing the useful explanation because I have never thoughts that there are so many reasons. I believe that the price will increase soon and it will become larger than it is now

[Dimon8]

The price of Bitcoin decreased because it was deliberately omitted by those who manage the market. And the market is managed by "whales", they buy at an affordable price, in order to raise the price and earn their billions in autumn or winter.

[kaizerblitz]

Everything happen has a reason bitcoin is on the early progress and it have many roads to be taken just trust bitcoin and hodl it wait for the November and bitcoin will jump again to the moon.

[richmcrich]

Thanks for sharing the useful explanation because I have never thoughts that there are so many reasons. I believe that the price will increase soon and it will become larger than it is now

Exactly. The current price is more than $6000 and it is expected to rise again. There was a rise in the value of Bitcoin as July started and this rise was though to be the start of the recovery and the finally the boom but this did not happen.

Besides, the experts continue to speculate about the rise in the price in future as the expansion of the technology has paced up which in tern has boosted the inflow of funds to the crypto market and this is the reason why it will rise again.

[pawanjain]

The comparisons are good as a theory but it cannot determine the future trend as only demand creates the trend in crypto trading. Bitcoin has already went as low as $4800 this year and current holding at $6200. If the price goes below $6000 then it might go as low as $5200 in my opinion. Anyway, if it goes low the chances are that it will bounce back quickly and start for the bull run.

[crypmike]

still actual

[charlotte04]

Hello everybody!

People are trying to guess where is the final point of the current market dump

I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets

1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000

UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?

2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k

3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination

UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..


Of course, this is nothing more than theory. But I hope that was at least interesting.

If you found his post interesting,  I will be really appreciated for +merit.   Have good profits!

And it really goes down to these levels which had a lot of panic to all the people inside of the crypto space. But I know that it will go back up again or maybe would start to make the next big rally.

[Lazada]

I think there are many reasons for the decline in Bitcoin prices. One of the things that I think is happening is that there is a community that manipulates prices, they simultaneously disrupt the market situation and when this happens they have made many investors panic to sell the Bitcoin they have. This is what will worsen the situation and of course, as we see now, which has a very significant price reduction !!! Bitcoin prices have dropped dramatically and we will never know how long this will happen.

[juperos]

I quite agree with you. At present, financial markets like us have been weakened by the ongoing economic wars in major countries. I think we should not invest anymore, sell them as soon as possible and wait for the bitcoin to return to $ 4000. That would be the best price to buy.

[akram143]

I think there are many reasons for the decline in Bitcoin prices. One of the things that I think is happening is that there is a community that manipulates prices, they simultaneously disrupt the market situation and when this happens they have made many investors panic to sell the Bitcoin they have. This is what will worsen the situation and of course, as we see now, which has a very significant price reduction !!! Bitcoin prices have dropped dramatically and we will never know how long this will happen.

We don't know why the Bitcoin will falling down like this but we had the ability to grow of the Bitcoin in short period of time so the only thing we can do just hold on for long time and make some investment in cryptocurrency this will be the lead to growth value of cryptocurrencies.