iamike (OP)
Jr. Member
 Offline
Activity: 314
Merit: 1
|
 |
October 18, 2018, 04:04:17 PM |
|
Bitcoin has stabilized at $6,500, after rising to $6,700 on fiat-to-crypto exchanges and achieving $7,700 on Bitfinex. Over the past 48 hours, the volume of Bitcoin has risen from $3.2 billion to $7 billion at its peak, but has since dropped to $4 billion. In a two-day period, BTC has shown a 25 percent increase in its daily trading volume, which can be considered as a positive indicator for the short-term trend of the digital asset. Can Bitcoin Defend $6,000 Support Level?The general sentiment regarding the mid-term price trend of Bitcoin is if BTC can successfully and comfortably defend the $6,000 support level in the weeks to come, then a large shakeout or a significant drop to the low $5,000 region is highly unlikely. Based on the stability BTC has demonstrated since early August and the fact that the dominant cryptocurrency had not fallen below the $6,000 mark as the daily trading volume of the asset reached its yearly low, it has become more challenging for bears to bring down the value of BTC in the short-term. Cryptocurrency trader Eric Thies stated that it is rare to find an asset that tests a major support level more than 20 times on a weekly chart. He emphasized that the only way BTC falls to the $5,000 region is if an unpredicted event occurs that negatively impacts the crypto market by a magnitude that exceeds the expectations of every investor in the market. “My core reason on BTC bullishness is simple: Find me anywhere in any market where the floor held 20+ times on a weekly chart, only to break to the downside afterward. You’ll be looking for a while. The only way it happens on Bitcoin would be from an enormous black swan event.” This article was published by Joseph Young in CCN and I deem it worth sharing. You can read more on https://www.ccn.com/bitcoin-has-hit-the-bottom-why-it-is-unlikely-to-fall-below-6000/amp/ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
Looking-upto-vod
Jr. Member
Offline
Activity: 42
Merit: 5
|
|
October 18, 2018, 04:56:46 PM |
|
In cryptocurrency there is no pegged bottom or pegged maximum height the market is very volatile and all coin moves as to the regards of the market situations. A lot of predictions has already failed this year so it not black magic.
|
|
|
|
|
Slow death
Legendary
 Online
Activity: 3010
Merit: 1100
Leading Crypto Sports Betting & Casino Platform
|
|
October 18, 2018, 05:31:54 PM |
|
Can Bitcoin Defend $6,000 Support Level? well, we have some options: 1- If the ETF's are approved, then we will see a great increase in prices and maybe we will not see the price of $ 6000 2 - If the ETF's are rejected, then we will see prices below $ 6000. So the answer is in these two options |
| ..Stake.com.. | | | ▄████████████████████████████████████▄
██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄
██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████
██ ██████████ ██ ██ ██████████ ██ ▀██▀
██ ██ ██ ██████ ██ ██ ██ ██ ██
██ ██████ ██ █████ ███ ██████ ██ ████▄ ██
██ █████ ███ ████ ████ █████ ███ ████████
██ ████ ████ ██████████ ████ ████ ████▀
██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
██ ▀▀▀▀▀▀▀▀▀▀ ██
▀█████████▀ ▄████████████▄ ▀█████████▀
▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄
██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█ ▄▀▄ █▀▀█▀▄▄
█ █▀█ █ ▐ ▐▌
█ ▄██▄ █ ▌ █
█ ▄██████▄ █ ▌ ▐▌
█ ██████████ █ ▐ █
█ ▐██████████▌ █ ▐ ▐▌
█ ▀▀██████▀▀ █ ▌ █
█ ▄▄▄██▄▄▄ █ ▌▐▌
█ █▐ █
█ █▐▐▌
█ █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀ ▐█▌ ▀█▄
██ ▐█▌ ██
████▄ ▄█████▄ ▄████
████████▄███████████▄████████
███▀ █████████████ ▀███
██ ███████████ ██
▀█▄ █████████ ▄█▀
▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀
▀███████ ███████▀
▀█████▄ ▄█████▀
▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
|
October 18, 2018, 05:47:22 PM |
|
It will never go below $6,000 unless it does and then it will.
|
|
|
|
|
Mi5h0
|
|
October 18, 2018, 05:57:30 PM |
|
It will never go below $6,000 unless it does and then it will.
And if it does, but I'm not saying it will, I'll be the first one to tell you "I told you so!". |
|
|
|
|
|
pixie85
|
|
October 18, 2018, 06:20:23 PM |
|
Why are you posting these articles here when there's a press section made specifically for them?
I think that price can fall below 6000 at any point because it relies on on the fundamental state of Bitcoin. If something bad happens and people get scared we'll face a dump never seen before. You could see what happened when there were rumors about tether. What if these rumors became facts? There would be a bump on Bitfinex and dump everywhere else.
|
|
|
|
|
|
yoseph
|
|
October 18, 2018, 06:30:44 PM |
|
It will never go below $6,000 unless it does and then it will.
For me Bitcoin has been able to stabilize above the $6000 mark and though there has been some instances of bad news regarding bitcoins, it is still around that value and I know it’s still going to be irrespective of what happens. |
|
|
|
|
kryptqnick
Legendary
Offline
Activity: 3094
Merit: 1385
Join the world-leading crypto sportsbook NOW!
|
|
October 18, 2018, 06:33:37 PM |
|
In cryptocurrency there is no pegged bottom or pegged maximum height the market is very volatile and all coin moves as to the regards of the market situations. A lot of predictions has already failed this year so it not black magic.
And yet it's been almost a year of a bearish market and the price never went below $6k. So why would everything change all of a sudden? The way I see it, the market is pretty stable between 6500 and 7500 with rare moves above our below these marks. It might be very hard to reach the next stage and never go below, say, $7k, but what could possible make the market leave the stable position and go down even more? Can Bitcoin Defend $6,000 Support Level? well, we have some options: 1- If the ETF's are approved, then we will see a great increase in prices and maybe we will not see the price of $ 6000 2 - If the ETF's are rejected, then we will see prices below $ 6000. So the answer is in these two options There've been a couple of ETF applications already which obviously got rejected. And yet we didn't see the second option becoming real. Why would another application rejection change that? |
|
|
|
|
silent17
|
|
October 18, 2018, 06:37:34 PM |
|
It's really not bad to predict what will be the outcome to the bitcoin price, the most important to me is that I can still keep my asset as they are. For me, being wise is the best option as of the moment when the Bitcoin has these up's and down moment.
|
|
|
|
|
antisocial77
Jr. Member
Offline
Activity: 378
Merit: 4
|
|
October 18, 2018, 06:47:46 PM |
|
never say never in crypto.6000 is strong but noone say it cant broken.probably you are experienced than me but all i've learnd so far is everything is possible here.
|
Silica NeXus
▄▄▄▄▄ Crowdfund the Nexus ▄▄▄▄▄ |
|
|
Dig Bicks
Member
Offline
Activity: 348
Merit: 22
|
|
October 18, 2018, 06:53:00 PM |
|
Panic sellers got played by the whales and sold off their coins like idiots. There are a lot of BIG investors and countries and getting in on bitcoin now. We will not see bitcoin below 6k levels again.
|
|
|
|
|
|
Nameless27
|
|
October 18, 2018, 07:00:26 PM |
|
BTC falls to the $5,000 region is if an unpredicted event occurs that negatively impacts the crypto market Nothing fancy and that’s true, it happens like most possible with a huge propaganda pieces of machinery our competitors from mainstream and those against cryptocurrency. One and most obvious are the government like China and the financial profiles affected by it, the bankers. We can’t also deny that bitcoin has been the favorite target by ICO/BCH(Roger Ver) within the market that is probably unworthy but does do make an impact to bitcoin in dumping season. |
|
|
|
|
kzozenberg
Jr. Member
Offline
Activity: 140
Merit: 1
|
|
October 18, 2018, 07:01:21 PM |
|
I also think that bitcoin can go to the level of 5 000 but it is unlikely. It is very tight at 6000 and may begin to grow very soon .
|
∨∧∨∧∨∧∨∧∨∧∨∧ [ BRAVO ] Send and receive anonymous and instant payments with the power of blockchain ∨∧∨∧∨∧∨∧∨∧∨∧
https://bvo.trybravo.com/ |
|
|
|
kickdapa
|
|
October 18, 2018, 07:19:39 PM |
|
Can Bitcoin Defend $6,000 Support Level? well, we have some options: 1- If the ETF's are approved, then we will see a great increase in prices and maybe we will not see the price of $ 6000 2 - If the ETF's are rejected, then we will see prices below $ 6000. So the answer is in these two options I think ETF will reject Bitcoin again, and There is no possibility to accept crypto by the ETF! But I don't think Bitcoin price will not go under 6K USD! 6K is a strong zone for the bitcoin and BTC price is moving between 6K to 6800 for many days! We have seen several ETF rejections before and that time Bitcoin price was above of 6K USD! so this time BTC price will remain at 6K zone, not less. |
|
|
|
|
oginiimaoyani
|
|
October 18, 2018, 07:23:27 PM |
|
At this time predictions never gives the suitable answers but we are all believing that it has hit the bottom which will also give hope to holders for better days ahead.
|
|
|
|
|
tenakha
|
|
October 18, 2018, 07:40:16 PM |
|
Can Bitcoin Defend $6,000 Support Level? well, we have some options: 1- If the ETF's are approved, then we will see a great increase in prices and maybe we will not see the price of $ 6000 2 - If the ETF's are rejected, then we will see prices below $ 6000. So the answer is in these two options Your thoughts are limited, not right to link the price change only to the ETF's decision. According to your opinion if there is no decision, the price must be fixed to 6k which we all know is unlikely. I agree with you that the decision will leave a big impact on the price, but they do nothing except extend this decision. |
|
|
|
|
sidebyside
Member
Offline
Activity: 245
Merit: 10
|
|
October 18, 2018, 07:50:00 PM |
|
I think the market is saturated this year, when investors do not continue to invest in bitcoin, they are waiting for its value to increase. That's why the bitcoin value is around $ 6000. This is the lowest price of bitcoin and it will not fall below this level. When the whale works again I believe the price of bitcoin will increase and reach new milestones.
|
|
|
|
|
Sonaile
|
|
October 18, 2018, 07:52:43 PM |
|
It's too late in the year for Bitcoin to fall bellow 6k.. Smart investers already know that the upside move is extremely greater by year end..
|
|
|
|
|
|
Harlot
|
|
October 18, 2018, 08:00:07 PM |
|
Everytime Bitcoin rejects to go down below 6,000$ level it makes the imaginary support line become stronger which it has proven several times. Right now we are seeing BTC to go up more but the problem here is the price of BTC is going up with the volume still remaining the same, which only means not everyone in the market is participating and only some are trading, this makes the price rally go weak and the same thing can be said when the prices are going down, there is not enough people offloading their BTC to make it go down to that level. Not unless we have a big combination of a really bad news and panic selling, we won't see BTC go down below the 6,000$ level.
|
|
|
|
|
zazarb
Legendary
Offline
Activity: 3374
Merit: 1548
Get loan in just five minutes goo.gl/8WMW6n
|
|
October 19, 2018, 04:09:32 PM |
|
In this Cryptocurrencies market everything is possible, one day prices could shoot up, and in second day price could go very low, but I don't think it'll go under $6k for now. Of course panic sellers are ruining the market right now so it may break that wall. But there is very small chance of that.
|
|
|
|
|
