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

[Kemarit]

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.

You have a point. If we look back at 2015 pattern, it seems that we can see similarity. Right now bitcoin is trading sideways, meaning it could have a new trend in the next following days, and obviously will go either direction, go $5800-$6000 or go on a $7000 run. Interesting to note though that 2015 was a great period of accumulation from January 2015 $2++ to January 2016 of $4++. So we might see the same pattern again this 2018-2019 as this could be another period of consolidation before making a good run at a new all-time-high in the following years.

[1714131410]

1714131410

[1714131410]

1714131410

[1714131410]

1714131410

[1714131410]

1714131410

[1714131410]

1714131410

[1714131410]

1714131410

[Turst1974]

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.

Currently bitcoin price is trading too much stable, but I do not think that it will stay at that price for a long time. very soon we are expecting that bitcoin price will cross 10000$ level which is a psychological barrier for the investors. I think that crossing that limit will give new hope to investors. 

[PaulLines]

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

There is no doubt about it. Such cases has already been happened in past. I think that still bitcoin and etherium has too much potential and very are very much confident and hopeful that price of both these coins will very soon recover and  very soon they will be trading in a very good price.

[bitbunnny]

We have seen many such predictions and scenarios so far, dramatic announcements every time when the market is down. But which of them has actualy came true?
I don't see any purpose of it then to.spread the panic and bad mood among the users but I don't bother myself with predictions at all.

[michellee]

I think if bitcoin break the $6000, then bitcoin price can get lower and maybe $5000 is the lowest price. and if the price still going down and reach $1000, then we might be back to 2011-2013 again because in that time, bitcoin price is down too deep and it stays in that price level for a long time. and if this is really happening, then many people will get a huge loss especially for people who bought bitcoin at more than $5000 price level and they need to wait for a long time to see the price can back to that price level.

[Mr.grin]

We have seen many such predictions and scenarios so far, dramatic announcements every time when the market is down. But which of them has actualy came true?
I don't see any purpose of it then to.spread the panic and bad mood among the users but I don't bother myself with predictions at all.

Well, I still remain optimistic about this. I am still so sure of the price of bitcoin that will reach a high price in the future. everyone is free to speculate about anything, and I think speculation about the price of bitcoin that has dropped has already happened in previous years. well, stay optimistic in holding the coins you have.

[sunanbonang]

the pump is over, the price doesn't reach 7k and now the price of bitcoin is back down. I hope there will be a strong push that makes the price of bitcoin above 10k.

[Deubila]

I think if bitcoin break the $6000, then bitcoin price can get lower and maybe $5000 is the lowest price. and if the price still going down and reach $1000, then we might be back to 2011-2013 again because in that time, bitcoin price is down too deep and it stays in that price level for a long time. and if this is really happening, then many people will get a huge loss especially for people who bought bitcoin at more than $5000 price level and they need to wait for a long time to see the price can back to that price level.

The rich, the last time hard to lose holes. Their volume of assets likely to come with usdt should also. And if it's down to 1k is sure to crown the new millionaires.

[michellee]

I think if bitcoin break the $6000, then bitcoin price can get lower and maybe $5000 is the lowest price. and if the price still going down and reach $1000, then we might be back to 2011-2013 again because in that time, bitcoin price is down too deep and it stays in that price level for a long time. and if this is really happening, then many people will get a huge loss especially for people who bought bitcoin at more than $5000 price level and they need to wait for a long time to see the price can back to that price level.

The rich, the last time hard to lose holes. Their volume of assets likely to come with usdt should also. And if it's down to 1k is sure to crown the new millionaires.

I don't think that the bitcoin price will down to $1k because if this is happening, then we can see the cryptocurrency will crash and many people will leave cryptocurrency. besides that, there is no chance for the cryptocurrency to rise again and maybe there will be a new technology that is better than the cryptocurrency. but there are many possibilities for bitcoin to go down again but we don't know how much the price can down and we only need to wait for a while.

[btc_angela]

the pump is over, the price doesn't reach 7k and now the price of bitcoin is back down. I hope there will be a strong push that makes the price of bitcoin above 10k.

Maybe what you are seeing is that support levels is broken. However, just by looking at the current price, it looks like its very strong to say the least, if we broke the resistance along the $6700-$6800 barrier's I think bitcoin will reach $7K at the end of the week. So the short term ($5K) and long term ($1K) price prediction is completely out of the picture now.

[bbc.reporter]

@btc_angela. Hehehe we should never say it is completely out of the picture. But if the support on $6000 is strongly holding, that longterm $1000 possibility will not be very great.

[zazarb]

Seems like Bitcoin support is very strong at 6000$ and where is no sign that price will go down lower than this price. But if somehow this support will collapse it is possible that next support line is around 4-5K .

[sunanbonang]

it looks like bitcoin prices won't go down to 6k anymore, now the bitcoin price is far above 6k. precisely the price of bitcoin has reached 7k, say goodbye to the bear market.

[cellard]

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

Spot on. It's interesting to see how people constantly force themselves to figure out what the market will be doing today or in the next few days, while most of them repeatedly state that they are in for the long term.

Day trading for most people has always been similar to gambling with how there isn't much you can rely on. Noobies should stick with dollar cost averaging while the market keeps going down.

Just like how this market can't always go up endlessly, it won't keep going down endlessly. By dollar cost averaging every other week or once a month you can pretty accurately buy the bottom or very close to it.

These people make a living off doing predictions. They get an audience, create a youtube channel, start racking up views and ad revenue, then start giving seminars, like Tone Vays. Of course then eventually get some thing really wrong, like his prediction which missed by $10000+ the top, so anyone that listened to him sold too early and a lost of potential gains there.

I believe we are starting to get analysts go overly pessimistic with these $1k predictions, and this may be the beginning of the end of the bear market. This is how markets bottom, analysts make overly pessimistic predictions which never happen. There's always a margin of distance between actual bottom and these predictions. Maybe $5k was it after all.

Also I would like to see miners dealing with sub $5k prices for a long time. I doubt they will let it happen. So if we go deeper it will be a flash crash, a fast dip that you can't time most of the time, so not worth even losing sleep over it.

[bbc.reporter]

@cellard. The bears might be overly pessmistic or they are biased towards bitcoin's failure as a currency and as an investment. Also, others are paid to say negative things about it like article about Jordan Belfort, the wolf of Wall Street mentioning that bitcoin is a ponzi scheme.