Is $6000 to $7000 the stable price for bitcoin?

[Barbut]

BTC is trying to reach 7K level again. But resistance still so powerfull. We have to reach 7500$ or all alts getting loose again.

Which I believe with the volume recently, we might see an attempt towards that region, but breaking it upwards, or coming back downwards to have a retest of the $6k support is one thing we would likely see and in the situation where we get to see a huge breakdown lower below the $6k support, we might start seeing some huge move downwards.

Moreover, I still believe the market may take some time to get to the $7k region or a bit higher which would give the altcoins chance to do good for themselves within this short period of time.

`Michael Novogratz, a former hedge-fund manager who is heavily invested in digital currencies, called a bottom on cryptocurrencies.` that is a news from weeks ago, you can find it everywhere. Most of the people, including me, believes in rise in last quarter of the year, its like something that always happen, it will happen this year too. Maybe we will hold this level for a while, but that is fine, this bottom is great start for next train to up.
Last couple weeks are good, we have a little uptrend and that can continue in upcoming months. Winter always bring a lot of excitement and that will happen this year too probably, lets wait for that before we make any calls.

[1715321808]

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[DashS]

I guess that 6-7k range is good for current adoption level and media coverage. I mean adoption is still super small and there's a lot room to growth. Adoption and tech is very important, I hope we'll see lightning network up and running one day for Bitcoin, it will make small purchases super easy!

[BrewMaster]

BTC is trying to reach 7K level again. But resistance still so powerfull. We have to reach 7500$ or all alts getting loose again.

Which I believe with the volume recently, we might see an attempt towards that region, but breaking it upwards, or coming back downwards to have a retest of the $6k support is one thing we would likely see and in the situation where we get to see a huge breakdown lower below the $6k support, we might start seeing some huge move downwards.

Moreover, I still believe the market may take some time to get to the $7k region or a bit higher which would give the altcoins chance to do good for themselves within this short period of time.

`Michael Novogratz, a former hedge-fund manager who is heavily invested in digital currencies, called a bottom on cryptocurrencies.` that is a news from weeks ago, you can find it everywhere. Most of the people, including me, believes in rise in last quarter of the year, its like something that always happen, it will happen this year too. Maybe we will hold this level for a while, but that is fine, this bottom is great start for next train to up.
Last couple weeks are good, we have a little uptrend and that can continue in upcoming months. Winter always bring a lot of excitement and that will happen this year too probably, lets wait for that before we make any calls.

i don't think we can see a rise the way people are expecting it, anytime soon. there is no news and there is absolutely no more hype left for bitcoin to see that kind of big rises. that we currently have is this stability phase which is working more like a build up phase for the next round of big rises.
although not having big rises doesn't mean no rise at all. we can reach $10k by the end of the year with a slow and solid rise instead of a big jump.

[prinlyn]

There has been numerous discussions about the stability of bitcoin and what is the stable price for the bitcoin, as we see the market has been tending around $6000 for months and one more thing which we have witnessed is that bitcoin will not dip any further below $5000, so shall we consider $6k as stable price for bitcoin?

I think it is because for the last several months the price of bitcoin remained stuck between $6000 and $7000. No dip and no increase. The price fluctuates between $6200 and $6800. Therefore I can say that $6000 is the bottom price for bitcoin. The price is almost stable and the investors are not making any profit for long time. This situation will remain for some more time.

[juli50]

For what I saw, when the price went down, it always stayed up from 6k. What I think is that people think that bitcoin worth more than 6k, so who have bitcoins dont want to sell them at that price so they hold their coins. Now I hope bitcoin price will start to go up during the next mounths and also in 2019, good days are coming.

[qualitywork]

There has been numerous discussions about the stability of bitcoin and what is the stable price for the bitcoin, as we see the market has been tending around $6000 for months and one more thing which we have witnessed is that bitcoin will not dip any further below $5000, so shall we consider $6k as stable price for bitcoin?

I think it is because for the last several months the price of bitcoin remained stuck between $6000 and $7000. No dip and no increase. The price fluctuates between $6200 and $6800. Therefore I can say that $6000 is the bottom price for bitcoin. The price is almost stable and the investors are not making any profit for long time. This situation will remain for some more time.

Yes I agree with your statement.

[jhonjhon]

For what I saw, when the price went down, it always stayed up from 6k. What I think is that people think that bitcoin worth more than 6k, so who have bitcoins dont want to sell them at that price so they hold their coins. Now I hope bitcoin price will start to go up during the next mounths and also in 2019, good days are coming.

Is that what we all aiming for but sadly crypto isn't listening to us.  Having a price bracket from $6k -$7k is same to be good price for me, isn't that much enough so people who are limited capital to start with will be given a chance to take part.

[Ozero]

There has been numerous discussions about the stability of bitcoin and what is the stable price for the bitcoin, as we see the market has been tending around $6000 for months and one more thing which we have witnessed is that bitcoin will not dip any further below $5000, so shall we consider $6k as stable price for bitcoin?

Perhaps this is true, but such a price can be considered stable for Bitcoin only this year. Stable prices for Bitcoin can not be. It will always change. Perhaps it will become more stable when Bitcoin reaches a certain maximum limit in its value. However, the achievement of this maximum limit can immediately be accompanied by a sharp fall in its price as it was last December.

[exstasie]

The Bollinger Bands really say it all. BB width is the bottom indicator: this is the tightest price action we've seen all year.



You could call it price stability. But when I see tight bands like this, my first thought is calm before the storm.

After months of leaning bearish, my bias has switched to mid-term bullish. It looks like an accumulation pattern. If it was a bear consolidation, it should have fallen by now. (I still think we're stuck in a long term sideways though)

[ethereumhunter]

The Bollinger Bands really say it all. BB width is the bottom indicator: this is the tightest price action we've seen all year.



You could call it price stability. But when I see tight bands like this, my first thought is calm before the storm.

After months of leaning bearish, my bias has switched to mid-term bullish. It looks like an accumulation pattern. If it was a bear consolidation, it should have fallen by now. (I still think we're stuck in a long term sideways though)

From your chart, I think we will see 2013-2015 will going to happen again because if you said that we are in long-term sideways, then my feeling told that we are going to see $6000-$6500-$7000 for a long time. But I still hope that will not happen for a long time, and I expect that in the next year, the price can increase, at least we can stable at $7000 before it moves to another high price. We can only make predictions without knowing what will happen in the future and I guess that right now, we need to satisfied with the price now.

[Husecomang]

so shall we consider $6k as stable price for bitcoin?

Maybe in last year bitcoin will too the moon like the end of previous year Bitcoin price to nearly $20k. But total Suply of Bitcoin is under 20%, i don't know if that will make price grow up or no

I don’t agree with this because the trend this is change and people are not investing in bitcoin. They are now interested in Altcoin because there are some good coins which can give investors big profit in less time. Why one would take risk while investing in bitcoin and there is no guarantee for growth in the price. I think the price will remain the same till end as it is today.

[Pamadar]

There has been numerous discussions about the stability of bitcoin and what is the stable price for the bitcoin, as we see the market has been tending around $6000 for months and one more thing which we have witnessed is that bitcoin will not dip any further below $5000, so shall we consider $6k as stable price for bitcoin?

Perhaps this is true, but such a price can be considered stable for Bitcoin only this year. Stable prices for Bitcoin can not be. It will always change. Perhaps it will become more stable when Bitcoin reaches a certain maximum limit in its value. However, the achievement of this maximum limit can immediately be accompanied by a sharp fall in its price as it was last December.

There's a lots of possibilities we can't predict whether the value already been stable to this level or anytime soon it can jumped over the last height or
it will fall deeper we just need to make some good assumptions and have always good strategy in order adopt certain  changes,  we are still in the process of waiting and speculate whatever movements market will go after.

[andycarrol]

There has been numerous discussions about the stability of bitcoin and what is the stable price for the bitcoin, as we see the market has been tending around $6000 for months and one more thing which we have witnessed is that bitcoin will not dip any further below $5000, so shall we consider $6k as stable price for bitcoin?

I think $6k - $7k is stable prices for this year, in the next year I am sure the price will increase and most likely be stable at range $10k. But to buy for the long term, it seems really good at this time, after seeing the price of bitcoin stable in the range of $6k and never goes under $5k.

[Altcoins enthusiast]

That is what we are witnessing now and to make things easier to investors I think bitcoin remain around $6,000 and $7000 is highly advisable.  Many investors are going to come into the market because of this and the retail and wholesalers will using and adopt bitcoin if the price is table.

[bitbunnny]

Since the price is fluctuating for a longer time now between 6000$ and 7000$ it looks like it's prety much stable. But in fact it isn't so and Bitcoin is volatile all the time. Still that is the price that marked this year for Bitcoin, more or less, and I don't see we will see much changes this year. Maybe closer to the end of the year but don't expect some bigger growth.
But even on such small price changes is possible to make the profit so Bitcoin price is never dull.

[Biscutard]

I can't seem to tell the exact date or month for that stabled price of bitcoin but aren't we already in a stable price. Like, look how this price still staying for more than a month and still it doesn't change or even break the resistance. Those who predicted $20k for this year seems too impossible if this continue until december.

[Bagaji]

There has been numerous discussions about the stability of bitcoin and what is the stable price for the bitcoin, as we see the market has been tending around $6000 for months and one more thing which we have witnessed is that bitcoin will not dip any further below $5000, so shall we consider $6k as stable price for bitcoin?

One cannot be certain as to whether at its current market value is the stable or equilibrium value of Bitcoin  because anything can happen in crypto currency market in the nearest future particularly if the the market manipulators resume their usual activities Bitcoin market value may move higher than $7,000 in time to come.

[beerlover]

I can't seem to tell the exact date or month for that stabled price of bitcoin but aren't we already in a stable price. Like, look how this price still staying for more than a month and still it doesn't change or even break the resistance. Those who predicted $20k for this year seems too impossible if this continue until december.

.No one can definitely seem to tell the exact date or month that a market will end up becoming stable, moreover, the market cannot be stable as it will still keep being within that fluctuation zone, even though it is moving sideways and as we are seeing it, currently between the ranges the OP mentioned. For now, we will just have to see what October may be holding and if possible we will be in this zone till the ending of October or the market would make a decision before then. No one can know how bitcoin would be in the long run, but since we are still in the early stage, there is still more room for growth in the long run.

[Thirdspace]

Well looking at the current trading trends, we can say $6k to $7k can be considered as the stable price of Bitcoin for now but i see the market price of bitcoin going beyond $7k before this year ends.

yes I concur, somewhat stable price for now... stable in a sense of short term price (last 3-4 months)
the price of bitcoin in the first semester 2018 was moving downhill,
but the second semester shows very strong support at $6000+ and pushes upward gradually
I'm seeing higher support now ~$6500 and hoping it continues to the end of year to ~$7000 level

[Affilate User]

yes you are correct that the price of bitcoin this year is likely to be stable at the price of $ 6-7k and it seems very difficult to be able to return to high prices again because there is no good news that can trigger investors or whales to buy coins. I also see from the graph that it seems like this year bitcoin prices tend to fall.