Do you think Bitcoin price will bottom out at $3000?

[b3j0]

in my opinion the price of bitcoin will not drop below $ 3k, if the price of bitcoin falls below $ 3k it will have a very bad impact on bitcoin. chances are the price of bitcoin will recover with a long time.

[Nolimitz84]

I think yes. The last level as for me is 2900$. After this target crypto will start growing. I think that the next bullrun will start in Q1 2019. Also it can be some later. Now it's better to hold.

The fact is that the crypto world does not lend itself to logic,although it deals directly with numbers.To predict here is very difficult,due to various factors.Personally, my opinion Bitcoin probably will not fall to $ 3000, and we will never see such a price anymore.

[South Park]

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price  at $3000 level.

What do you think? will stop at $3000 level or will it go further down

We did not touch that price but I agree with your overall analysis, at some point the drop has to stop since panic sellers will no longer be in the market but the issue with such a big drop is that it creates more panic sellers as people get afraid of losing even more money with cryptocurrencies than what they have lost already but fortunately it seems that process has stopped already.

[Argoo]

I think that the price of Bitcoin will not go lower already and will not fall to 3,000 dollars. The danger was a few days ago, when Bitcoin rapidly began to fall in price and dropped below 4,000 dollars. Now the situation seems to be gradually stabilizing, although it is precisely before the new year that it can be deliberately lowered again in price. In general, the situation is now unpredictable and there may be various variants of Bitcoin behavior.

[Bytem3]

I think we are getting very close to the bottom. IMO it's a good time to enter Bitcoin again.

Check out this video technical analysis by Altcoin Buzz, pretty insightful:
https://coincodex.tv/videos/510/when-is-the-best-time-to-buy-bitcoin

[gentlemand]

Small problem using market cap as any type of psychological barrier.

1 - market cap is horse shit.

2 - nearly half of that figure is made up of wretched shitcoins.

I don't think we're going to get a crypto spring until plenty more shit is flushed away. That means a market cap considerably lower than where it is at present.

[gabmen]

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price  at $3000 level.

What do you think? will stop at $3000 level or will it go further down

We did not touch that price but I agree with your overall analysis, at some point the drop has to stop since panic sellers will no longer be in the market but the issue with such a big drop is that it creates more panic sellers as people get afraid of losing even more money with cryptocurrencies than what they have lost already but fortunately it seems that process has stopped already.

Lol. People still in the market right now have pretty much lost most of their investments. I think a lot have that all or nothing mentality already and would just opt to see where this goes. I think it's close to bottoming out now whether we bounce from 3k or go below it.

[exstasie]

Small problem using market cap as any type of psychological barrier.

1 - market cap is horse shit.

2 - nearly half of that figure is made up of wretched shitcoins.

I don't think we're going to get a crypto spring until plenty more shit is flushed away. That means a market cap considerably lower than where it is at present.

I think nearly enough value may have been flushed out of altcoins. They'll never dump as far as you think if your perspective is that they're valueless shit. Altcoins perpetually troll bitcoiners the same way Bitcoin perpetually trolls nocoiners. They never die, they never go as low as you think, and a million dead coins are going to rise in another bubble after you've already written of the possibility.

I'm not exactly mid-term bullish on altcoins, but the bulk of the damage is already done. They're totally secondary to what the BTC market does too. I wouldn't bet on too much blood while BTC is hovering at the 200-week MA.

[sheenshane]

I hate being analytically speculation, but I think this is the bottom price since it is now a yuletide season many people having a financial problem and probably weak people converted their bitcoin asset to fiat and that probably gets the market to become the price worst.
So, if it is the bottom price now, don't worry we all know that Bitcoin and other cryptos will never hit into the ground.

[exstasie]

I don't know if it'll be the ultimate bottom, but I think there's a good chance for a mid-term bottom here. Selling momentum has slowed considerably, there's horizontal S/R at $3K, there's long term MA support here as well. Daily Chande and RSI are in great position with potential bullish divergences too.

This low off $3,122 looks a bit weak with low volume, so I wouldn't be surprised to see another stab down but my overall expectation is something along these lines. If we draw a parallel to previous cycles, we're currently in late September 2014:

[BlackPanda]

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price  at $3000 level.

What do you think? will stop at $3000 level or will it go further down

We did not touch that price but I agree with your overall analysis, at some point the drop has to stop since panic sellers will no longer be in the market but the issue with such a big drop is that it creates more panic sellers as people get afraid of losing even more money with cryptocurrencies than what they have lost already but fortunately it seems that process has stopped already.

Lol. People still in the market right now have pretty much lost most of their investments. I think a lot have that all or nothing mentality already and would just opt to see where this goes. I think it's close to bottoming out now whether we bounce from 3k or go below it.

We will go through a phase like this, we all know that Bitcoin is still something that is in great demand by many people. The benefits and functions that Bitcoin has have an extraordinary appeal. The price of Bitcoin is currently in a bad situation, but I'm sure this will only happen in a few moments. There will be an increase and we are all convinced that we can become the rise of Bitcoin in the future. Let us together to support Bitcoin, increase the use of Bitcoin and we will get the benefits if we dare to invest at this time when the price of Bitcoin is in a cheap range.

[btc78]

Why would it look at the charts and the news seems like game over to me, lots of investors will have to bail out and those with big profits will take some.  Feel free to buy some more though as crypto is cheap the real question is why ?

What do you mean by Feel free to buy some,but the Question Why?

Why do we need to buy crypto?Because we believe in the technology behind this,and we know that future lies on this currencies things that you dont wanna hear because you are Fud creator lol.stop this issues brother aand start trusting cryptocurrencies for you own future

[sashu]

i think it will may happen because price falls so fast. And then we will see a rebound...I hope

[liuqi]

i think it will may happen because price falls so fast. And then we will see a rebound...I hope

No one is expect this price fall so when it will rebound is impossible to predict so high margin investors only make profit. But no one is loose the hope because number of news are comes in positively so we must wait for the next bullish trend.  All the pump and dump is unpredictable so we should concentrate in long term our journey is safe.

[Cherylstar86]

i think it will may happen because price falls so fast. And then we will see a rebound...I hope

No one is expect this price fall so when it will rebound is impossible to predict so high margin investors only make profit. But no one is loose the hope because number of news are comes in positively so we must wait for the next bullish trend.  All the pump and dump is unpredictable so we should concentrate in long term our journey is safe.

Market seem to be moving uncontrollably and is very unpredictable. We can't really tell what will happen if the price will continue to go downward or it will have an upward movement before year ends. It times of uncertainties and downfalls, we tend to panic, be disturbed, and bothered not realizing that it already ruins our purpose and vision. No matter how hard the situation seems to be, never forget to get back on what your goals are, don't lose hope, everything happens for a reason, there are things are out of our control and we should learn to embrace that harsh reality of life.

[aragom]

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price  at $3000 level.

What do you think? will stop at $3000 level or will it go further down

I believe bitcoins has already bottomed out at 3100$, and the panic sellers have left the market for good. As we have been seeing bitcoins prices touched 4k, but it came down to 3800$ As it could not sustain those levels. I feel it's finding resistance at 3500$ levels, and with the news of Nasdaq futures coming in a rally may soon be on cards hence I feel it should go upwards now.

it wont drop under 3000 dollar.
it is the deep level for bitcoin in 2019. and in 2020 it will go up and up.
i hope.

[exstasie]

With today's strong reversal candle, it looks to me like we've confirmed the local bottom. I don't think we'll get to $5,000 on this leg, but I think we'll get to at least $4,400 if not $4,750 as stated in the chart.

We could still be in a larger bear market. But we've at least taken our first baby step towards painting a reversal.

[deppil]

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price  at $3000 level.

What do you think? will stop at $3000 level or will it go further down

I believe bitcoins has already bottomed out at 3100$, and the panic sellers have left the market for good. As we have been seeing bitcoins prices touched 4k, but it came down to 3800$ As it could not sustain those levels. I feel it's finding resistance at 3500$ levels, and with the news of Nasdaq futures coming in a rally may soon be on cards hence I feel it should go upwards now.

I can't be sure of that. crypto is full of unpredictable changes. prices can go down and go up whenever there is news and trends
that occur. but for now it looks like prices will stabilize at $3100-$3400

[knightmairesaint]

I think it should.

As per CMC the total Market cap is only $121 billion. If the price of Bitcoin hits $3000, then the market cap approx will be $100 billion. I may be wrong in the calculation, but it will be less to what it is now. Which means most of the short term investors and panic sellers have left the market. Those who are left are either long term holders and big whales.
The only option left for these whales is to pump the price  at $3000 level.

What do you think? will stop at $3000 level or will it go further down

According to the price volatility everything can be. We don't know what we are gonna face tomorrow. Unless there is an innovation against the price decline we can see even below 2k. The darker price, harder it gets towards the darker and I think we are close to that dark color. A new breath is needed and subsequently everything can be fixed.

It is very hard to decide and to think whether bitcoin will rise from this and honestly, all I have now is the belief that bitcoin is the currency of the future. Based from the price, people keeps selling even at low prices and there are so many reasons to think why they do that. Maybe they need money, maybe they give up on bitcoin already and etc.

Even if whales could be the one doing the selling causing the big dump at the price, @pakhitheboss could be right. Maybe the only option left is for whales to be greedy right now, and them buying will surely make a change at the market price.

[sliderider]

I think we have fully capitulated over the last month.

What's going to be really funny is if we get 2-3 more days like this in a row, then all those people waiting for 3k jump back in when it's clear the bottom has come and gone... and well... fireworks will happen.

I mean, we could hit 8k and just be back where we were a month ago, except for those of us that were accumulating at the bottom.