Bitcoin might be $5000 short term, $1000 longterm if support is broken - Sosnick

[El duderino_]

What's the lowest it got to over the past 24 hours?

It will MOOOOOON! Sell your house, buy BTC, get all in!

(not a financial advice)

Seriously man, why do you even ask here these questions, nobody knows what's gonna happen. Unless you have your own strategy and tools to do daytrading you shouldn't even bother.

How sell home and buy bitcoin

look to Ethereum It is a disaster 
People lose their money in trade
You should stop buying bitcoin

I was trying to show that there's no point in asking 24 hour price questions here. Anything people will tell you is nonsense coz they don't know. Either do your own research or don't bother with price movements within 24 hour periods because you will definitely  lose money

So it means that right now nothing should be bought neither eth, or other altcoin or btc , just sit and see the roller coaster. I am expecting eth price to go down to 0.030 level and then their will be bounce back. BTC maximum  tonight we can see is nearby $5650 level and then their will be slight rise and can close nearby $6000 level.

There's a long crypto winter ahead of us. No point in buying now for the long term IMO.

?? no point of buying for the long term? you are HIGH or something ? its the only point to buy BTC for the long term.... offcourse every day askink when MOON when this price why that dumb when recover etc is pointless cause nobody does know whats going to happen ,but when youre willing to invest in BTC than buying DIPS and low prices or the thing that you wanna buy if not than maybe its better to look for something else and never look to BTC again ........

[1713542721]

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[1713542721]

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[stiffbud]

This is not a clickbait doom article, but a simple analysis, by Sosnick of Interactive Brokers, of what might happen if bitcoin has completely broken the $6000 floor.

I reckon this is one of the most practical analysis that I have seen, but I hope his longterm speculation will not happen hehehe. It might also be an exaggeration, I reckon.



Watch the video https://www.bloomberg.com/news/videos/2018-08-13/bitcoin-could-fall-to-1-000-long-term-interactive-brokers-sosnick-says-video

This seems too good to be true, bitcoin coming back to $1k is a wonderland for investors that are looking to invest into bitcoin but it is a suicidal situation for those who have invested into bitcoin back in December as they will take the biggest hit from this price decrease. But this price fall isn't gonna happen as the market will quickly recover even if the price falls below $5k range.

[gentlemand]

There's a long crypto winter ahead of us. No point in buying now for the long term IMO.

And what figures do you think a crypto summer would bring?

Do the opposite of what your emotions want you to do and you'll come out on top.

If people had done that in early 2015 they would've made 100x profit buying at the absolute nadir and selling at the peak but of course most were too scared.

I don't think there's any reason to be bullish for the near future, but buying a little on a regular basis will add up nicely when the right time comes.

[El duderino_]

^
buying every month a percentage of whats coming in whiteout looking to the price and just hodl it

[bitcoin31]

We don't know what really happen to bitcoin. But we hope so for sure it will be fine in the next few months.
But we can change bitcoin price now if we buy more bitcoin and hold it for few years so we can earn more money.

[mostkey]

There are so many people who are confused about the current conditions, there are still people who lose their mentality and in the end they sell all the reasons for Bitcoin not to endanger, I hope the great wall today does not collapse to not touch deeper prices, investors just wait and press prices that are considered very cheap but misleading the people who have been in it for a long time, nothing can be done in this kind of strategy, to more calmly place money in a bloody market condition.

What's the lowest it got to over the past 24 hours?

It will MOOOOOON! Sell your house, buy BTC, get all in!

(not a financial advice)

Seriously man, why do you even ask here these questions, nobody knows what's gonna happen. Unless you have your own strategy and tools to do daytrading you shouldn't even bother.

How sell home and buy bitcoin

look to Ethereum It is a disaster 
People lose their money in trade
You should stop buying bitcoin

I was trying to show that there's no point in asking 24 hour price questions here. Anything people will tell you is nonsense coz they don't know. Either do your own research or don't bother with price movements within 24 hour periods because you will definitely  lose money

So it means that right now nothing should be bought neither eth, or other altcoin or btc , just sit and see the roller coaster. I am expecting eth price to go down to 0.030 level and then their will be bounce back. BTC maximum  tonight we can see is nearby $5650 level and then their will be slight rise and can close nearby $6000 level.

There's a long crypto winter ahead of us. No point in buying now for the long term IMO.

I have always been convinced that long-term investments will make me rich by buying more Bitcoin and Ethereum at very cheap prices like now and needing to wait in the next few days might be even cheaper, in cryptocurrency history every year finds good or bad achievements , but everything always fluctuates over time, this is the earliest hype after the achievement of Bitcoin against ATH, it never hurts to take advantage of such situations for the long term.

[jseverson]

There's a long crypto winter ahead of us. No point in buying now for the long term IMO.

?? no point of buying for the long term? you are HIGH or something ? its the only point to buy BTC for the long term.... offcourse every day askink when MOON when this price why that dumb when recover etc is pointless cause nobody does know whats going to happen ,but when youre willing to invest in BTC than buying DIPS and low prices or the thing that you wanna buy if not than maybe its better to look for something else and never look to BTC again ........

Well they did say now, which suggests they expect prices to drop further. Buying the bottom is better than buying the dip, just much harder to execute, so I can understand where they're coming from.

I personally believe we haven't seen the bottom yet, but I do dollar cost averaging anyway so I guess it doesn't matter.

[pooya87]

There's a long crypto winter ahead of us. No point in buying now for the long term IMO.

?? no point of buying for the long term? you are HIGH or something ? its the only point to buy BTC for the long term.... offcourse every day askink when MOON when this price why that dumb when recover etc is pointless cause nobody does know whats going to happen ,but when youre willing to invest in BTC than buying DIPS and low prices or the thing that you wanna buy if not than maybe its better to look for something else and never look to BTC again ........

Well they did say now, which suggests they expect prices to drop further. Buying the bottom is better than buying the dip, just much harder to execute, so I can understand where they're coming from.

I personally believe we haven't seen the bottom yet, but I do dollar cost averaging anyway so I guess it doesn't matter.

that is the whole reason why you buy now instead of waiting to hit some bottom that you have in mind. at least you buy something if not with all your money. and who is to say you aren't going to wait for a new bottom as soon as the bottom you have in mind now was reached?

for example back in 2015 i remember price was stuck at $220 for a long time and every time the bottom was tested it didn't break but people were saying the bottom is $100-$50,... and said you shouldn't buy then. you know what $200 was not the bottom, price fell to $150 which is a 25% drop but all those who were waiting for that bottom could not buy because it was only a short time (about an hour if i am not mistaken) before price jumping back up and starting the rise. so unless they left their money on exchanges for months they couldn't have bought the bottom.
and psychologically when you miss something like that you don't just buy back at $250, now you have a sense of being right so you wait for that price to be repeated so you end up being forced to buy at $400 instead.

(the funny part is that we are talking about making $19,850 profit per coin versus $19,800 profit per coin )

[jseverson]

-snip-

that is the whole reason why you buy now instead of waiting to hit some bottom that you have in mind. at least you buy something if not with all your money. and who is to say you aren't going to wait for a new bottom as soon as the bottom you have in mind now was reached?

for example back in 2015 i remember price was stuck at $220 for a long time and every time the bottom was tested it didn't break but people were saying the bottom is $100-$50,... and said you shouldn't buy then. you know what $200 was not the bottom, price fell to $150 which is a 25% drop but all those who were waiting for that bottom could not buy because it was only a short time (about an hour if i am not mistaken) before price jumping back up and starting the rise. so unless they left their money on exchanges for months they couldn't have bought the bottom.
and psychologically when you miss something like that you don't just buy back at $250, now you have a sense of being right so you wait for that price to be repeated so you end up being forced to buy at $400 instead.

(the funny part is that we are talking about making $19,850 profit per coin versus $19,800 profit per coin )

Those are valid points and I agree completely.

I would just like to point out, however, that your scenario only checks out ($50 difference per coin) if the buyer was only going to buy a fixed number of Bitcoins anyway. If you were planning to spend a fixed amount of money, let's say $1000, on $150 per coin as opposed to $200 per coin, you'd have ~1.66 more Bitcoins, which is a whopping ~$32k difference.

I personally don't wait for the bottom because I do dollar cost averaging as I said, and I'm shitty at predictions in general, but I see the merits in trying to catch the bottom. A little difference can be massive down the line, so I can't fault the mentality even if it's essentially gambling.

[Pursuer]

I have always been convinced that long-term investments will make me rich by buying more Bitcoin and Ethereum at very cheap prices like now and needing to wait in the next few days might be even cheaper, in cryptocurrency history every year finds good or bad achievements , but everything always fluctuates over time, this is the earliest hype after the achievement of Bitcoin against ATH, it never hurts to take advantage of such situations for the long term.

not everything! it has been only bitcoin that goes up consistently and stays up. the rest of them go up but then fall back down and stay down. that is why bitcoin is the only long term investment.
since last year that they started spam attacking the bitcoin network and then pump altcoins on the sideline, many shifted their attention towards them more than before thinking things have changed for altcoins but they are now realizing that this has been the same as all the previous years: a pump and dump. and now they are going back down again while bitcoin stays up.

[gabmen]

There's a long crypto winter ahead of us. No point in buying now for the long term IMO.

?? no point of buying for the long term? you are HIGH or something ? its the only point to buy BTC for the long term.... offcourse every day askink when MOON when this price why that dumb when recover etc is pointless cause nobody does know whats going to happen ,but when youre willing to invest in BTC than buying DIPS and low prices or the thing that you wanna buy if not than maybe its better to look for something else and never look to BTC again ........

Well they did say now, which suggests they expect prices to drop further. Buying the bottom is better than buying the dip, just much harder to execute, so I can understand where they're coming from.

I personally believe we haven't seen the bottom yet, but I do dollar cost averaging anyway so I guess it doesn't matter.

Well nobody would actually know where the bottom is, but the support at 6k would probably hold quite well unless of course something big comes up like an etf denial this december. Guess we'll just have to wait and see.

[buwaytress]

?? no point of buying for the long term? you are HIGH or something ? its the only point to buy BTC for the long term.... offcourse every day askink when MOON when this price why that dumb when recover etc is pointless cause nobody does know whats going to happen ,but when youre willing to invest in BTC than buying DIPS and low prices or the thing that you wanna buy if not than maybe its better to look for something else and never look to BTC again ........

Nothing like the words of a true holder, haha. I think we've to understand that for a lot of people, long term is something they can't comprehend. Definitely high/drunk when bingeing on the bull run, so they're simply accustomed to magnitudes of order of profits. They're definitely leaving Bitcoin in droves. Hanging their heads and wishing they'd spent the last 10 months buying stocks.

(the funny part is that we are talking about making $19,850 profit per coin versus $19,800 profit per coin )

THIS is the funny part indeed. And same as today, we're talking about $6k and $5k. But who has the money these days to even buy 1 BTC? More likely (unless I'm wrong in thinking most people are just earning in the tens if not hundreds of dollars), we're just adding small portions of Bitcoin, and talking really about the difference of 50 - 100 profit at wholesale Bitcoin price.

[zxcv cool]

$4,000 should be the ultimate price for BTC, and if the price does reach $1,000, many people will lose a lot, and they will leave the crypto market.

[alyssa85]

The $6,000 support is broken now and it's dumping like crazy. It just keeps going down. I hope there are willing buyers out there that would push the price higher and keep the $6,000 support for the daily candle. Stoch RSI is already oversold and it seems that there are buyers out there because it is pushing the price now but we have yet to see if the bulls would be able to push the price up and beat the bears for the day. After all, there is still more than 20 hours left for the day candle to close. I do hope that the $1,000 price would not be reach too.

It's back up to $6400.

The "dumping like crazy" that happened when $6000 broke was just stop losses being triggered on longs. (Because they were long, they had to sell to close the trade).

I think there are a lot of institutional buyers who sit just below $6000 hoping to pick up cheap coins, which is why we have bounced back up.

[cellard]

On every Bitcoin bottom there will always be people that in the long term end up looking like morons with their overly-pessimistic bear predictions. This always happens, no exceptions. It's just a fact, statistically, some people aim for way lower prices than what ends up happening. Case in point, the bear predictions of Vinny Lingham:



He went bear and sold right before the big bull market to $20k started, when BTC was hoovering $1k. Ouch. This puts perspective on things, and how all these big names can be wrong, very wrong, often.

Other names include Tone Vays and his infamous $7500 top best case scenario for 2017, and we all know what happened. He is obsessed now in predicting this bear market after missing the top by a long shot.

The real question is, does it even fucking matter if you get in now or at $1k in the long term? seriously. Anyone with a brain should be buying at current prices because $6k might be the final bottom after all, and so it's reasonable to start buying. This creates a bullish case already. And even if t went lower, then take that as a discount. Think long term.

[magneto]

I agree with the $5k short term prediction.

We could see price levels of even lower, downwards to probably $3-4k if the $6k support was broken. However, I don't think that this bear market as well as the collapse of the $6k support would be able to bring anything close to a 95% fall in value from BTC's peak back in 2017.

Personally, I think that we're nearing a bottom, and recovery will most likely start next year.

I just think that there will just be way too much demand for coins below the $3k level by both speculators and long term bitcoin holders for prices to ever regress back to $1k. I just don't foresee it even in the worst case, most bearish scenario possible. Buyers are already starting to accumulate on a massive scale at the $6k zone, let alone below $5k.

[wuvdoll]

This is not a clickbait doom article, but a simple analysis, by Sosnick of Interactive Brokers, of what might happen if bitcoin has completely broken the $6000 floor.

I reckon this is one of the most practical analysis that I have seen, but I hope his longterm speculation will not happen hehehe. It might also be an exaggeration, I reckon.

[im g]https://asset.barrons.com/public/resources/images/ON-CJ695_Umbrel_B620_20171229162631.jpg[/img]

Watch the video https://www.bloomberg.com/news/videos/2018-08-13/bitcoin-could-fall-to-1-000-long-term-interactive-brokers-sosnick-says-video

Lol, yeah and than it will be 10 cents each, than we will find life on some distant galaxy and they will send spaceships to our world and there will be misunderstanding because of the big egos of our politicians in the world and the war between aliens and humans will cost a lot of times but I will unite humanity under one flag versus the aliens and manage to best them and humanity will award me with bitcoins and make me king and I will be assassinated by my court gesture out of nowhere.

Dude what the hell are you smoking, bitcoin can NEVER be $1000 again. Like even if biggest top 20 countries in the world like USA, UK, China, Germany and what not can come out and say we ban bitcoin and anyone uses bitcoin will be jailed for life, even than price will probably not reach 1000 dollars.

[St4yInTh3D4rk]

It will defenetly go to $5K. Then, in September there will be a small rise - $7-7.5K. And after SEC will decline ETF again - $4K. In December it will be $2.5K

Woww,nice story but the chance of happening is still very minimum since we can see that the price of bitcoin has very good resistance at $6000 range since we can see that there were many time the price were spiked soon after it hit $5900 or low maybe this is due to whales or the miners.So I conclude that the price won't go far beyond $6000 or the miners will have problems working on.

[Slow death]

I thought I'd seen $10,000, but seriously they're talking about $1000? well, I'm not an economist, but even I realize that when the price was  $1000 we did not have much adoption and today we have a lot of adoption and we still have a lot of space to have more adoption, it does not make much sense to say that the price can be of  $1000. But as people have the habit of entering panic whenever the price drops and already start saying that the end of bitcoin, will fall to $0, so we will ignore... must have been analysis of someone who is having losses and he is angry with bitcoin

What's the lowest it got to over the past 24 hours?

It will MOOOOOON! Sell your house, buy BTC, get all in!

(not a financial advice)

Seriously man, why do you even ask here these questions, nobody knows what's gonna happen. Unless you have your own strategy and tools to do daytrading you shouldn't even bother.

How sell home and buy bitcoin

look to Ethereum It is a disaster 
People lose their money in trade
You should stop buying bitcoin

It is true that the price of ETH has dropped a lot, but will eventually recover and bitcoin may also have a very high price in the future. The strategy is to buy low and hold for many years

[andohyeb]

Bitcoins will truly in the short term be trading around 6000 to 7000 for a while but in the long term from a year to 2 years , it will trade within 10,000 to 30,000. All is patience on the side of traders to wait to get the maximum benefit from holing it for long term.