How far is the bottom for Bitcoin ? When will it peak again?

[Valency]

Bitcoin and alts have seen a massive correction since they peaked in December 2017. Some people have predicted this to be the death of Bitcoin and of all the other coins that are collectively categorised as ‘shitcoins’ in crypto terminology. But this is not the first time Bitcoin has seen this level of correction.

If we zoom out, there were at least two major corrections in the past. One in 2011 when Bitcoin fell from $32 to $2 marking a 94% correction and in 2013-14 where it took over 400 days to correct from ~$1100 to $170, which is 85% fall from the peak then. Compare this to 2018 fall from $19,500 to a low of $5850 is only 70%. This is just to provide a perspective rather than claim that it will go further.

Bitcoin Bottom


After the peak, Bitcoin dropped three times to the zone of 5800 to 6400. That was not surprising considering the parabolic rise in price from ~$1000 to $19,500 in the last year. As mentioned before, this is 70% fall and if we were to look at the historical crashes – both of them followed a parabolic rise – there is still room for correction.

Read More: https://zycrypto.com/how-far-is-the-bottom-for-bitcoin-and-alts-when-will-they-peak-again/

[pooya87]

Bitcoin and alts have seen a massive correction since they peaked in December 2017. Some people have predicted this to be the death of Bitcoin and of all the other coins that are collectively categorised as ‘shitcoins’ in crypto terminology. But this is not the first time Bitcoin has seen this level of correction.

first of all you can't even begin to compare bitcoin drop and altcoin dumps!
for starters bitcoin drop stopped about 2-3 months ago not to mention that the bottom of the price was reached February (6 months ago) and price has not gone below it ever since. but altcoins have been getting dumped and going lower and lower each time setting a new bottom and still breaking it a week or so later.

second no body predicted "bitcoin death". don't confuse bullshit on the internet with actual "prediction"
as for death of altcoins, it happens every day, it is not news. take a look at altcoin graveyard and you'll see.

[mxyzptlkof6th]

Bitcoin and alts have seen a massive correction since they peaked in December 2017. Some people have predicted this to be the death of Bitcoin and of all the other coins that are collectively categorised as ‘shitcoins’ in crypto terminology. But this is not the first time Bitcoin has seen this level of correction.

If we zoom out, there were at least two major corrections in the past. One in 2011 when Bitcoin fell from $32 to $2 marking a 94% correction and in 2013-14 where it took over 400 days to correct from ~$1100 to $170, which is 85% fall from the peak then. Compare this to 2018 fall from $19,500 to a low of $5850 is only 70%. This is just to provide a perspective rather than claim that it will go further.

Bitcoin Bottom


After the peak, Bitcoin dropped three times to the zone of 5800 to 6400. That was not surprising considering the parabolic rise in price from ~$1000 to $19,500 in the last year. As mentioned before, this is 70% fall and if we were to look at the historical crashes – both of them followed a parabolic rise – there is still room for correction.

Read More: https://zycrypto.com/how-far-is-the-bottom-for-bitcoin-and-alts-when-will-they-peak-again/

I suppose that every year, the percentage of correction decreases and bitcoin is able to hold its ground. It is because the cryptomarket is developing at a slow rate and we just dont feel it. As technology improves, cryptocurrencies unlocks more opportunities in which they contribute to our everyday lives.

[Pursuer]

it is practically impossible to predict the bottom by just looking at what happened in previous times. and the big price drop OP posted is only one of many big bubbles that bitcoin had in its history and most of them don't end with a big drop. they usually have a much smaller drop and in a much shorter time-frame. what we have today is one of the bigger and longer ones.
additionally as other poster mentioned bitcoin is being adopted more and more and with it the market grows, as a result the swings aren't as big and things happen much faster because there is a lot more traders and a lot more money in the market now.

[micher143]

Actually, we can't even predict exactly until when it will still be in bottom but one thing is for sure and that will be bitcoin won't be die or dead because we can noticed in it's passed experiences and scenarios of it bitcoin are really experiencing bottom for a long period of time and definitely that was has a bigger percentage of decreasing compare in to our current year but even it's happened it will continuously to grow and performed in cryptomarket so in that happened it will only means that no matter how far of it's bottoms it takes there will be the perfect time that it will booms again and reach it's highest peak or better it will perform a new highest peak  record for the coming end of this year 2018.

[BitcoinHodler]

it is true that you can not predict the bottom but with the evidence that we have at hand right now you can say with a reasonable confidence that the bottom is around $6000 and the chances of going lower than this price level and staying there are minimal.

as for the rise back up, you should be more concerned about how much you can accumulate in the time that you currently have not concerned about when you are going to run out of time.

[spazie]

All crypto are currently experiencing a decline, in my opinion it is very reasonable and it will not be long to return at its peak, only bitcoin can survive to be stable.

[Bvvvp009]

BTC Crypto currency especially Bitcoin is the most trusted crypto it can hold forever it is making a solid foundation now.In Nov 2013 Bitcoin fell to 152$ from 1163$ nearly 87% surge Bitcoin took 411days for correction,after 2013 Bitcoin feb2018 is the major correction

[moooner]

I believe the two questions are linked: if the bottom is around 6000$, no way it doesn't reach ATH sometimes in the future. On the other hand, posting lower lows now after months of apparent bottom would worry me quite a bit. Sheningans with tether begun around 3000$ so supposedly that's the true demand bottom if everything comes to worse.

[stasik201330]

Bitcoin and alts have seen a massive correction since they peaked in December 2017. Some people have predicted this to be the death of Bitcoin and of all the other coins that are collectively categorised as ‘shitcoins’ in crypto terminology. But this is not the first time Bitcoin has seen this level of correction.

If we zoom out, there were at least two major corrections in the past. One in 2011 when Bitcoin fell from $32 to $2 marking a 94% correction and in 2013-14 where it took over 400 days to correct from ~$1100 to $170, which is 85% fall from the peak then. Compare this to 2018 fall from $19,500 to a low of $5850 is only 70%. This is just to provide a perspective rather than claim that it will go further.

Bitcoin Bottom


After the peak, Bitcoin dropped three times to the zone of 5800 to 6400. That was not surprising considering the parabolic rise in price from ~$1000 to $19,500 in the last year. As mentioned before, this is 70% fall and if we were to look at the historical crashes – both of them followed a parabolic rise – there is still room for correction.

Read More: https://zycrypto.com/how-far-is-the-bottom-for-bitcoin-and-alts-when-will-they-peak-again/

Do you really think so? I do not think that bitcoin will fall so low ... And in general, in my opinion, bitcoin is a cryptocurrency for a long holding. So to say, to ensure old age))) Therefore, I'm not upset about the drop in its value, because there will definitely be growth!

[Cheezesus]

I think that bitcoin will not die this early, bitcoin have many potential to be unlocked in the near future. So if you hold bitcoins and wait for it to skyrocket like last year you will be so happy. To answer the question when will it peak again, no one knows it when it will skyrocket.

[louie69]

I think bitcoin had already reached the bottom at $5.8K USD and definitely will not go down beyond the $5.8K level. My assumption to the expected up trend could possibly reached within the last quarter of the year therefore people in this community should wait for it and enjoy the profit once it will peak again.

[duoduoshigexiaozhu]

I think the bottom of Bitcoin should be balanced with the benefits of mining. Even if the market is in a downturn, I think the price of Bitcoin can't be less than $5000!

[franky1]

ignore the HIGHS. you will just drive yourself insane always checking and hoping for highs.. no one knows or can tell you how high or when high..

however there is both math and psychology that backs up the LOWS.. its called the cost of obtaining limit. (only stupid sell below the cost they obtained it)


bitcoins hashrate at january 2017 was only 2.5exa hash  with ASICS average price being $2k. and calculating the number of asic units and the electric and spreading the unit costs.. brought the COST to mine btc to $700+
bitcoins exchange price LOW was ~$900 ($700 value + $200 speculation hype)

skip forward 6 months
bitcoins hashrate at july 2017 hashrate was 6exa.. with ASICS average price being $2k. and calculating the number of asic units and the electric and spreading the unit costs.. brought the COST to mine btc to $1680
bitcoins exchange price LOW was ~$1990 ($1680 value + $310 speculation hype)

decembers hype was not sustainable. and would never have lasted and not many people actually got to be online to take advantage of the temporary bubble and correction event.. which is another reason to not fuss over th hype bubbles because they happen so fast 99% of people just cry they missed out. so dont worry or car about it..

moving forward lets take july 2018
at this point ASIC unit cost dropped to $850 (waa $2k a unit)

bitcoins hashrate at june 2018 hashrate was 36exa.. with ASICS average price being $850. and calculating the number of asic units and the electric and spreading the unit costs.. brought the COST to mine btc to $5570
bitcoins exchange price LOW was ~$5850 ($5570 value + $280 speculation hype)

this math is not to be taken literally as a daily scale.. as people do not sell instantly. its best to get the months low hashrate and treat that as the months price LOW once calculated.
weekly/daily/hourly do not work out as correlated as people are random about when they finally sell coins

so take a months overview and take the lowst hashrate you see and the highest. to see the area/zone of break even
https://www.blockchain.com/en/charts/hash-rate?timespan=30days
37exa(28th july)-54exa (11th aug)

so now look at this months low of 37exa and this months top of 54exa.. you will see a range of $5.7k-$8k for the month. and now guess what the high and low bitcoin PRICE swing was for this month.. yep $5.7k-$8k
magic right... nope. its math and social conscience of nevr selling at a loss

now you can be left to look at the hashrate chart and draw some lines on the hashrate chart and it may hlp you better define where the LOWS may settle

[r32godzilla]

For me,bitcoin bottom line seems to be in the range of 6,000 dollars as we have seen it falling from higher price but not below 6,000 dollars.

I think that bitcoin price would continue to travel in the price range of 6,000 to 7,000 dollars until bitcoin ETF gets approved as it seems to be the only possible option available to boost again the bitcoin price.

[LeGaulois]

All of us are just speculating, including the so-called expert we read on the mainstream media. I still believe the final bottom will be around $5,000 but not sure if we will see a significant move before the next halving

[websoftwareengineer]

I think that bitcoin will not die this early, bitcoin have many potential to be unlocked in the near future. So if you hold bitcoins and wait for it to skyrocket like last year you will be so happy. To answer the question when will it peak again, no one knows it when it will skyrocket.

Bitcoins will never die because the market price is still growing and all we need is patience since the value are volatile due to demand and supply.

[YuginKadoya]

I can not say if a drop will sure happen but as far as I see the movement of bitcoin it is green already but the real question now will be, If it will continue to rise if this continue and we are nearing in the midst of Ber months we may see the value keep on going on a slow pace rise and I think that is a good thing, But if this will not continue and may see a drop again we can see a crash in the end of Aug. But the bottom base will be at $6000 USD for sure, If we can not see any problem so far so good.

[talkbitcoin]

the facts that we have so far all say one thing and that is: $6000 is the bottom for bitcoin.

we have had situations like this before when price hits the bottom and everyone is confused about when it is going to go up or whether it can go lower. in bitcoin all these doubts are normal but the history shows that price rises start from these doubtable moments.

[Pursuer]

All of us are just speculating, including the so-called expert we read on the mainstream media. I still believe the final bottom will be around $5,000 but not sure if we will see a significant move before the next halving

although I don't agree with the $5k but I can see the possibility of that. but regarding no movement until next halving I have to say that is a very long time away. why do you think bitcoin is not going to move at all for years? to be honest that doesn't seem realistic to me at all, the market is so active these days and the adoption is growing despite all the drama. I can not see nothing happening to bitcoin for more than a couple of more months.