Today bitcoin back to $4200. As we saw yesterday it was $3700. Is there any chances that bitcoin go below $3000? If yes then what will be the main reason for it?
First of all, this belongs to Speculation subforum.
Yes, it does and has been subsequently moved to the speculation section, credits to the moderator.
The market is highly volatile these days and that’s what I am concerned about!
Today bitcoin back to $4200. As we saw yesterday it was $3700. Is there any chances that bitcoin go below $3000? If yes then what will be the main reason for it?
The chance is big that if such drop happens to be caused by the same speculation. Also the recovery was caused by the news about Nasdaq and may be temporary.
What happened in the last 7 days has already given me heebie jeebies and somehow the ‘temporary corrections’ accrued through Nasdaq rallying behind NYSE to facilitate Bitcoin futures which might as well be derived from Singapore’s premier stock exchange SIX launching Bitcoin ETP along with an added flavor of the demand for crypto among traditional investors, or several states and countries coming together to find a suitable place for crypto in their daily mathematics such as Ohio, Paraguay, Nigeria and many more in the past 7 days.
Alas we forget the groundbreaking deal of BBVA and Santander banks shaking hands with European Union or earlier when international charity firm Oxfam linked Cambodian rice to blockchain for the welfare of farmers and if that’s not enough for bitcoin’s growing footprints in daily life then we all know how Ron Paul’s survey played out on Twitter.
The $3600 support has been tested severally over the past few days, and I has held out comfortably. I think we can call that the bottom now, I s just temporary, we will need a longer period to fully ascertain.
After market plummeting, on this poll itself, almost 70% people don’t feel like even speculating the speculable, so maybe crypto community is more or less likely to fall with the fall and rise with the same.
But, if we are to look at loans collateralized using bitcoin or altcoins, or govt coming out in open to accept cryptocurrency as regular tradable and ‘taxable’ commodities then it must mean that sentiment for crypto is closing fast.
implying that capitulation hasn't occurred yet. After the momentum from this relief rally fades, I think we'll see bears make another push.
So, what if we are to say the next we see is fiat bonds with crypto custody which is already the case with many big players then we may need to pick sides at the end of the day, but I’m still unsure to fully understand how long will it take for crypto market to finally initiate into maturity period.
Which, at the same time, I’m not looking very forward to, as it might take away volatility from bitcoin or crypto at large, forever.
For now bitcoin is as authoritarian as USD when compared with other currencies but 10 years from now, USD is not something I’m placing my bets on.
Second: we don't know what the future holds. It may fall, it may not. There's a chance to get to 20$, there's a chance to get to 1000000$.
Reasons? For now it was pure speculation. In the future?
You say rise to $1000000 or fall to $20 but with widespread adoption that might not exactly be the case, as altcoins can surely obstruct the path for bitcoin to be the conglomerate in the future like it is today.
Sub-$3k will only happen if something fundamental like MtGox's lost coins, happens.
I think chances are small that we will go <$3k. However everything is possible...
And, if the vulnerabilities in code is to be nitpicked for any exchange or wallet provider, then my friend, pack your bags, say your last goodbyes, war is over.
However, I still think that Bitcoin has better reasons to rise than fall. But it may be just me...
So, it probably isn’t just you that bitcoin has better chances to rise than fall, it’s the same with everybody.
Today bitcoin back to $4200. As we saw yesterday it was $3700. Is there any chances that bitcoin go below $3000? If yes then what will be the main reason for it?
FUDs and FOMOs are one of the big reasons why people lose their belief in cryptocurrencies. Remember that this is an emotional driven market.
Despite the present FUD and FOMO, as they were the reason at first place which brought everyone to listen intently to the becoming of such phenomena so that we be able to even talk about it.
Today bitcoin back to $4200. As we saw yesterday it was $3700. Is there any chances that bitcoin go below $3000? If yes then what will be the main reason for it?
I just see this sales period has expired and it's time for Bitcoin to rise from adversity
Because somehow every adversity is also an adrenaline rush for some, and
The main reason? Craig Wright.
please no need to mention Craig Wright as he can bask in the glory of Satoshi right now but how long will he be able to keep the allegations of blockchain reorganization and market mosh pit at the helm?
So, anyway, I think bitcoin is sorta like Batman, hunted now, loved tomorrow and renounced the very next day onwards.
