Bottom of BTC descending channel is 3000$?

[TheUltraElite]

$3,000 is just too low. Price wont even touch close to $5,000. And if ever that happens it will just entice more holders to buy more and hold as everyone is anticipating the price of Bitcoin to break $20,000 USD by December again granting that there will be no other bups ahead like a major news that will shake Bitcoin again.

Yeah the price touching 30k is too lame a mis-speculation. You cant help those who are not confident about the long term demand of crypto and how crypto shapes the future economy. Those who are having finger trembling seeing the drop in price just need to sell off their assets and not look back again. Crypto market is not for them.

We can actually hope on that but really bitcoin can go even below this position, because we're facing so deep state of cryptocurrencies prices that almost everything is possible.

It wont be long till prices are pushed up again. Havent you seen the constant rise and fall whenever the price goes near 6k? Trades are buying at that price and I am sure there is a buy wall below it as well.

[dadanpradana]

All of them are only reviews written on paper and that is only a prediction.
I will not believe in predictions, because predictions can sometimes be wrong and can also be true.

I'd better believe in myself.

[drmasa]

Old investors got out. Now its time for new investors and their starting price of entry point of 6500$ for 1 btc.

[Johnyz]

All of them are only reviews written on paper and that is only a prediction.
I will not believe in predictions, because predictions can sometimes be wrong and can also be true.

I'd better believe in myself.

Of course we should not depend on any news, we still need to have our own research about the coins we have. $3000 is not possible with bitcoin, well I trust this market so it will not happen. We may experience many dumps this year, bitcoin is still suppotted by many investors.

[tesla80]

According to following tradingview analysis, it will see 2800$ - 3600$ levels in January 2018. Will see what is expecting us.

https://www.tradingview.com/chart/BTCUSD/Gqzx8jnU-BITCOIN-LEGENDARY-ANALYSIS-LONG-TERM/

[ThorWin]

Never BTC can drop below $ 3000. I believe in the future, the BTC price will be higher than $ 10000. So I always expect and hold this coin until they cross the $ 10,000 mark

[rickadone]

$3,000 is just too low. Price wont even touch close to $5,000. And if ever that happens it will just entice more holders to buy more and hold as everyone is anticipating the price of Bitcoin to break $20,000 USD by December again granting that there will be no other bups ahead like a major news that will shake Bitcoin again.

You actually got it right with the market enticing more investors to want to buy more but you should remember those would end up being smart investors and it is not everyone investing in this space that will be smart. For what it is, I am sure as a lot of people are seeing it as an opportunity to buy more, some are freaking out and then bailing out of the market even at huge loss because trust me at this stage, the FUD will definitely increase.

Nevertheless, nothing is guaranteed here and I would not say that it is impossible for us to go as low as $3k, because any break of the $5800 support can lead us down very fast.

[TheUltraElite]

All of them are only reviews written on paper and that is only a prediction.
I will not believe in predictions, because predictions can sometimes be wrong and can also be true.

I'd better believe in myself.

Thats good because nerves of steel is what is needed in trading during the bear market. If you fall for the wrong emotions then you will either sell at loss or get a heart attack. Either one of them are hazardous and would not want it to happen.

On the bright side if you have the nerve to hold during the bearish trend to wait for the bull run you would be in profit. But what is needed is the patience. Just like the patience the bitcoin hodlers had in 2010-2016.

Old investors got out. Now its time for new investors and their starting price of entry point of 6500$ for 1 btc.

You can actually get in a a lot lower price. Not now because the price is moving between 6k and 7k USD everyday now. We are hoping for a small bull run followed by a bearish drop again.

[Iykecollins]

even if it's possible, I believe it will be very small chance and less likely to happen
at the time OP posted the chart, the pattern shows a possible drop below $6,000
but that was early august and the market formed a very good support at ~$6,000
it looked like the support held strong and bounced the price up some time mid august (14th)
and currently it continues to rise to test immediate resistances at ~$7,500 and ~$8,000

This is actually a very sound analysis of the current btc trend, I need not say further, however I do not see the possibility of dropping below $6000 any further as at the level of every dip, the lowest had been around $5800 and so far we haven't seen such in long time

[Riddikulo]

Never BTC can drop below $ 3000. I believe in the future, the BTC price will be higher than $ 10000. So I always expect and hold this coin until they cross the $ 10,000 mark

I wish this drop will never happen but no one can say if it is not possible. Do you remember how many people thought that Ethereum would go higher than 5 or 10 thousand? The crypto market cannot be predicted.

[boy130]

In my opinion this seems like a reasonable educated guess, possibly applied to a massive market crush. IT really is surprising how fast and low it could go.

[wayancrypto]

I dont see any reason the price of Bitcoin will going down to $3000, because on the market now dominance by BTC more than 55%, in my prediction the current price is the bottom and will going up later to $20K again and possible will surpass this level in next year. Bitcoin is have strong fundamental and the demand will keep growing in the long term because we can see the history price since 2009 when created is only going up for long term.

[weblaraveluser]

While most of the analysts are letting their wishful thinking of a trend reversal influencing their analysis, this top analyst on Tradingview (MagicPoopCannon) has been predicting the current price action of BTC already several months ago and he is setting 3000$ as a logical bottom. Click on the link below to read his analysis and see his chart. What do you think about it?

https://www.tradingview.com/chart/BTCUSD/GLtEEYfz-The-Downtrend-Continues-BITCOIN-BTC-D/

The price of bitcoins will never go down to $3k dollars because there are a lot of people who are interested on cryptocurrency and i believe that $6k is the stable price today in the market.

[Malandro]

When Someone draw a line to a chart and take more conclusions then de direction should take some pills

[yonjitsu]

So many speculations were already made about bitcoin's market price to go down the 5,000$ mark but i think it will never happen at all. How many times does bitcoin fall in the 5,000% mark this year? It's only in that mark that bitcoin has fallen but it never went down below that that anymore.

[daicavung]

BTCs will never be able to fall below $ 3,000, they are now above $ 6,300, so try to hold on until they can grow to over $ 8,000 to sell, and also Depends on the price you bought the BTC.

[Jeremiesaranza]

I don't think that a lot of people will sell bitcoin under $6000 (some panic sells dont count). They need to create really scary narrative (china bans dont work anymore)

[Chattym]

$3000 isn't that bad, actually. It isn't $0.01, is it? But frankly I don't know who can guarantee the price level either high or low, whatever. In a market like that we could expect anything even beyond our expectations (the moon last year was totally unexpected, wasn't it?)

[tulezua]

Things were quite active in the cryptocurrency space, and the correction took place on most of the bubble markets after some digital assets hit an all-time high. The mainstream media is reporting on Bitcoin's price increase. The possibility of bitcoin breaking the $ 3000 range and finding new highs is not a problem.

[iram3130]

I dont think it will descend any lower than 5800$ ever. Thats a great support level and even haters are waiting there to buy bitcoins at that price.