“Bitcoin’s no longer boring” price could fall as low as the $1500

[Kakmakr]

Looks like $1500 was pulled from the bitcoin chart history.
https://coinmarketcap.com/currencies/bitcoin/

$1500 is what the price of bitcoin was right before it started the run up on the charts on ~ May 04,2017.

So the Bloomberg's analyst are really thinking all of the price gains since then are going to be wiped out.

* If the Bcash Hash War causes the Billionaires involved to sell the majority of their crypto holdings to support their fork,
all of the crypto they were holding (including btc) will face a serious downward price pressure as long as the hash war continues,
Wright has already said he is willing to sell his btc down to $1000 in support of his sv fork. *
  

CW and his partners do not have enough bitcoins to influence the market in such a way. The miners that are backing him are burning a lot of electricity that they have to pay, so they are not hoarding massive amounts of coins.

He just said that to try and scare BTC miners away from utilizing their hash power to support the Bitcoin Cash ABC fork. <desperate actions from a desperate man> 

All of this is just empty threats. 

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[franky1]

trading alone. if mining was not involved could speculate the price randomly.
all the way up/ all the way down

but if you actually calculate the mining costs. (averaging out the "luck" of who wins vs their hashpower vs their cost of hardware & electric)

you will see the line of resistance. which the traders always bounce back to at a correction of speculation/manipulation

EG yea may 2017 had a mining cost of above $1200 so i can see why may 2017 had a $1.3-$2k*
(again why specifically $1.5 of May 4th??.. why May at all?? why 2017 at all?? )

and if you check the charts. the main players are mining farms. they dont react. they influence
check out the hashrate chart and you will see the curve.(a few blurred vision people deny the curve)


this curve is where new ASICS are being cough tested out cough (making money).
swapping old for new more efficient miners

i also marked the date(red circle 14th-15th october) at which they decided not to push the hashrate too much and actually bring the hashrate down while also using boost to stay mor efficient and still win blocks. which was 14th-15th OCTOBER.. before the altcoin drama.. (awhole month before before price movements)

as you can see by the red circle it was the last day the hashrate average tipped 60exa and the first day of october it went below 45exa

which shows it was not altcoin drama caused. because the altcoin drama didnt start until just a few days ago(mid november.. a month later).
mining farms do not react to price/altcoin drama(only small hobbiests do). because the miners were instead doing stuff a month before the price. and so now have cheaper hardware to be able to sell coin cheaper this month than they did before last month

*https://coinmarketcap.com/currencies/bitcoin/historical-data/?start=20170501&end=20170528

[davis196]

https://cointelegraph.com/news/bitcoins-no-longer-boring-price-heading-towards-15k-say-bloomberg-analysts

“Bitcoin’s no longer boring” declares Bloomberg, before stating that analysts predict the price could fall as low as the $1,500 point, a further 70 percent drop in the coin’s price.

Bloomberg cites hedge fund founder Travis Kling saying that he “didn’t sleep well” because of the potential turmoil in wider crypto markets due to the recent Bitcoin Cash hard fork:

“There’s a small chance that, it’s difficult to estimate, that something really bad could happen related to Bitcoin Cash that could then impact the entire crypto market.”

Looks like the warnings of btc dropping down to $1000 is not so far fetched after all.
Also looks like the analysts are blaming it all on the bcash war.

Can the Miners survive a drop below $2000?
Time will tell.    

Great.I want something really bad to happen with BCH,the impact over the entire crypto market will be short term and it doesn't matter to me.I want BCH to disappear,and the 2 BCH forked altcoins to become totally useless and practically dead.Saying that bitcoin core will crash to 1500 USD,only because of BCH is a weird fantasy.

[aad140386]

Of course, for a crypto-market, a drop to $ 1000 will be a heavy blow. If this happens, the bear market may last another year, and maybe even more. But, personally, I do not really believe in this figure. I believe that with the worst scenario, the price of bitcoin will stop in the range of 3000-6000 dollars. Unfortunately, this scenario now seems to me the most likely. There is a chance, of course, to break through support in the region of 6000 and get up, but so far I do not see any prerequisites for this. Perhaps the year 2019 for cryptocurrency will also become bearish.

[franky1]

with all that said. my point is. prices of speculation and manipulation correct back around the mining cost value line when there is low speculation and low manipulation.

this is because miners if they can
buy bitcoin cheaper than their mining cost. they will buy it
sell bitcoin profiting above their mining cost. they will sell it

mining farms have private OTC deals with VC's and whales to contractually mine and give coin to them at certain rates. so if they see opportunity to buy/sell coin and profit on the markets to then fulfil the OTC contracts. they will.

thus if the price dips too much. they buy on the market. (bringing price up) if they see profit on the market they will. which fights off the manipulators/speculators to bring in corrections back close to their costs

now i see no reason for $1500.. because the costs of mining is not that low
now i see no reason for $1500.. because the trader support (70%+ of UTXOs moved above $5800)
now i see no reason for $1500.. because the pric only moved $400 below the support.. not $4000

[nicster551]

https://cointelegraph.com/news/bitcoins-no-longer-boring-price-heading-towards-15k-say-bloomberg-analysts

“Bitcoin’s no longer boring” declares Bloomberg, before stating that analysts predict the price could fall as low as the $1,500 point, a further 70 percent drop in the coin’s price.

Bloomberg cites hedge fund founder Travis Kling saying that he “didn’t sleep well” because of the potential turmoil in wider crypto markets due to the recent Bitcoin Cash hard fork:

“There’s a small chance that, it’s difficult to estimate, that something really bad could happen related to Bitcoin Cash that could then impact the entire crypto market.”

Looks like the warnings of btc dropping down to $1000 is not so far fetched after all.
Also looks like the analysts are blaming it all on the bcash war.

Can the Miners survive a drop below $2000?
Time will tell.   

Well, I also see that it will happen but at the same time people tend to believe that it will go up significantly and will make a new big rally.

[efxtrader]

If bitcoin price fall below $4000, i think many miner will stop mining bitcoin. Its below production cost in many country because electricity cost getting highest these day. Hopely that prediction not going to happen

[shoreno]

If bitcoin price fall below $4000, i think many miner will stop mining bitcoin. Its below production cost in many country because electricity cost getting highest these day. Hopely that prediction not going to happen

thats good actually because if more miners will stop , the difficulty of mining will also lessen and some will still continue to mine btc because the value can still possibly grow in the future .

But mining isnt the one that going to be affected on here , other business or income oppurtunites as well such as trading/investing .

@op , you mean to say bitcoin will become more boring if your prediction happens .  price fall isnt interesting to most people , thats why they considered it boring .

[supermine]

Don't worry it won't fall that much so the miners can survive this small dump on their profits and they will continue to mine because we are heading near to end of this year and the new year will give some bright light to the crypto markets.We can see that the market is now much stable at $5500 and hopefully will start to bump at the time of Christmas.

[Sandus_Cryptolover]

If bitcoin price fall below $4000, i think many miner will stop mining bitcoin. Its below production cost in many country because electricity cost getting highest these day. Hopely that prediction not going to happen

I hope such predictions will not happen else many investors might cashout and that may cause Bitcoin price fall..

[talkbitcoin]

people have been sharing their wishes and calling it speculation for years. it doesn't matter if it is a big name like this one or a random boob on the internet trying to gain some attention. it is not news that they low ball guess the price when price is not rising and predict high prices when it is rising. not so long ago they were saying price is going to be $100k by the end of 2018 but by that time price was headed towards $20k.

[Zin-Zang]

$5000 support level has been broken.

Bitcoin has now fallen below $5000 support to $4,888.09    

Next Support level is $4000, time before it's failure, not long according to the Bloomberg analysts.

Less than $3400 to fall before the final $1500 support level is reached.

[Bincanet]

   Well,maybe someone is want bitcoin to fall even $1500 so that they can buy more but i think it will not happen because people also want the value of bitcoin increase.

I don't think bitcoin will fall to $1500. Just compare to lats Dec, the price at the moment is very good to buy. Please do not say something like this, it would make people worry and leave bitcoin. the price will be lower and lower. What if it won't come back again?

[Zin-Zang]

Looks like we are going to start over again at $1,500 .
Are we going to see another great start if this happen or are we going to continue dropping down .
Are you willing to continue if the price hits that low again or are you going to quit,
I am sure that many people would quit on it because they lose to much money in investing at the all time high.

Speculation is at least a 3 year Bear Market.
Unknown if BTC network & miners can survive with btc at less than $2000 for an extended period of time.
Many here don't have the patience to wait a week without complaining much less 3 years.

One thing I found interesting was Jihan Wu said ,
that the fact that they had to remove mining power from the BTC network to use on the BCH network could cause a collapse in price. 
It should make no difference in price , Unless:
That statement implies that Wu's miners were only stockpiling btc and not selling any,
and the fact that other miners would be able to mine and earn more btc , means they would sell and crash the price.
This also implies that Wu was falsely propping up the price of btc by limiting supply and now that false prop up can no longer be maintained due to the bch hash war.  Anyway just a Personal Speculation.

[redsap]

agree with that, after the bcash war this is really a huge impact on bitcoin itself, and maybe can getting more low in the price market
and many people in this world are waiting this aftermath war, whats next in the end of the year ?

[BAGOBO]

agree with that, after the bcash war this is really a huge impact on bitcoin itself, and maybe can getting more low in the price market
and many people in this world are waiting this aftermath war, whats next in the end of the year ?

we'll see what will happen with the price of bitcoin in the future. Bitcoin prices have decreased while being cautious in conducting trade and investment. If your predictions are not going well, consider the factors. remember, every experience has lessons. do not regret your decision to continue to fight for better results.

[kevinlhuxley]

$5000 support level has been broken.

Bitcoin has now fallen below $5000 support to $4,888.09    

Next Support level is $4000, time before it's failure, not long according to the Bloomberg analysts.

Less than $3400 to fall before the final $1500 support level is reached.

So true. I just checked it now $4,848.00!! I hope btc will not decrease lower!! I don't fear of losing but cryptocurrencies are the future money. If drop to $1500 there will be no future! 

[shendy]

Hmm ... seeing the falling btc price is a bit of a worrying scene, and this doesn't saturate it but there is a stronger desire to make it run back bull. The graph will provide the answer hash rate that occurs and will help the holder to stay afloat.

[BuyBuyBitcoin]

For anyone believing $1500 is impossible and the article is just FUD....

https://www.youtube.com/watch?v=e68N-T3q6IE

4 former wall street traders analyzing the current price for 2 hours....they have all analyzed bitcoin for years and price predictions are quite good.

None of them are calling the "bottom" yet and it could hit $1k depending how it looks over the next few days.

If it actually hits $1k we are going to have such a discount on the next coins every gets