Irrational. Bitcoin could fall to $800

[Wind_FURY]

I agree with OP. That Twitter account is being built up for a purpose. Yes I know, tinfoil hats on.

But we have seen how some schemers in Bitcoin Land play the game, like Roger Ver, Faketoshi, and some people like Kevin Pham who pretend to be a commited Bitcoiner, gain thousands of followers, then turn around and support Bitcoin Cash SV as "the real Bitcoin". Hahaha.

[Febo]

The cryptospace appears to be beginning to spread bear market irrationality. According to this clickbait news, an up and coming analyst that hides behind its twitter account name Financial Survivalism, bitcoin could drop to $800 if it fails to surmount a declining trendline at $4600.

Bitcoin will not go under $1000 and most likely will not go under $2000 either. We are still waiting to go under $3000. Eventually it might happen that not even that will get delivered.

[Wilhelm]

We are going sideways now. So the tide is changing.
There might be a few tests for lower prices but I doubt that we will go below $3000.

[Wysi]

Even I feel this will not happen most probably the big whales are spreading FUD's to buy coin for more cheaper price, few are busy expecting bull run in this forum and here is a scary news. I still believe it will not lose its reputation which might not go low below 3k.

[figmentofmyass]

I dont think we will go to three-digits anymore.

Price is on this level for a longer time than it was on the 6000s.

price first bounced off $6k in february last year. we crashed to $3k in november. (9 months)

it hasn't even been 3 months yet since the last swing low.

the thing about drops is that the lower we go, the bigger a drama/FUD we need. and there is no more FUD remaining that can have any kind of significant effect on the price.

here's one possible source: the CFTC and DOJ are actively investigating tether and bitfinex. imagine what happens to the price if the feds take down their sites and seize lots of their bank accounts.

[bitgov]

Even I feel this will not happen most probably the big whales are spreading FUD's to buy coin for more cheaper price, few are busy expecting bull run in this forum and here is a scary news. I still believe it will not lose its reputation which might not go low below 3k.

For a long time, I think that the price of Bitcoin will not fall below $3k. If the whales wanted to lower the price more, they would not let that so much positive information appear on the market and would create a lot of negative information to make it easier to make panic sell again. $800 is impossible.

[fabiorem]

price first bounced off $6k in february last year. we crashed to $3k in november. (9 months)

it hasn't even been 3 months yet since the last swing low.

I was talking about a continuous price. It had plunged to 6k in February, but then it raised up back to 11k.

Continously, 6k starts in August, with a peak to 7k. The previous level would be 8-9k.

Right now, we didnt had any return to 6k. It has been 3k continuously since November, touching only 4k recently.

[Wind_FURY]

I dont think we will go to three-digits anymore.

Price is on this level for a longer time than it was on the 6000s.

price first bounced off $6k in february last year. we crashed to $3k in november. (9 months)

it hasn't even been 3 months yet since the last swing low.

the thing about drops is that the lower we go, the bigger a drama/FUD we need. and there is no more FUD remaining that can have any kind of significant effect on the price.

here's one possible source: the CFTC and DOJ are actively investigating tether and bitfinex. imagine what happens to the price if the feds take down their sites and seize lots of their bank accounts.

It will not be that simple. I believe if the DOJ or the CFTC really had jurisdiction in Hong Kong, they would have shutdown Bitfinex by now.

[figmentofmyass]

price first bounced off $6k in february last year. we crashed to $3k in november. (9 months)

it hasn't even been 3 months yet since the last swing low.

I was talking about a continuous price. It had plunged to 6k in February, but then it raised up back to 11k.

Continously, 6k starts in August, with a peak to 7k. The previous level would be 8-9k.

Right now, we didnt had any return to 6k. It has been 3k continuously since November, touching only 4k recently.

doesn't that just mean we haven't really bounced yet?

the february bottom looked like a real capitulation IMO. this time i'm not sure i believe it. especially because people seem so quick to declare we've seen the bottom. short term can go either way but over the next several months i'm seeing more blood coming.

[1Referee]

If the whales wanted to lower the price more, they would not let that so much positive information appear on the market and would create a lot of negative information to make it easier to make panic sell again.

Positive news is meaningless right now. We've had heaps of it, yet it doesn't even remotely dent the price.

I think it's safe to say that most whales are just as surprised about how brutal the 50% crash was as you guys are. Don't forget that the sellers are dumping into buy orders, which means that for everyone selling there are buyers on the other side of the book seeing their paper value tank as the price tanks.

People just need to acknowledge the nature of this market. On the way up no one complained, and now people don't get what they want anymore, it's a problem. 

[lablab03]

Don't fall on that Fud's bro. Just stay away on it because it cant help on this situation, wherein i suggest to focus on your strategy to minimize risk situation . Actually $800 is very impossible to be honest which even though the market keep fluctuating it will never happen in my opinion. So much better to dont mind it and keep believing  that soon there's still a brighter future with bitcoin

[davit putra]

Market declines make people think negatively and think that bitcoin will decline further, a decline can occur but if it reaches the $ 800 point it will not be possible.

[omonuyak]

The cryptospace appears to be beginning to spread bear market irrationality. According to this clickbait news, an up and coming analyst that hides behind its twitter account name Financial Survivalism, bitcoin could drop to $800 if it fails to surmount a declining trendline at $4600.

I reckon the people who controls that Twitter account should talk to the now rational Tom Lee for advice hehehe.

Also, this news might be a scam effort to gain more followers for that account which might also be controlled by newbtc.com. I might also be irrational in this, however hehehe.

In any case, who owns newsbtc?



Another day, another foreboding piece of analysis. A leading analyst claims that as Bitcoin (BTC) has yet to break out of its current range, there’s a growing potential that the cryptocurrency could fractal, and undergo a drop that looks much like that seen in November of yesteryear.

Financial Survivalism, an up-and-coming analyst centered around Bitcoin, recently took to Twitter to issue a harrowing comment. He noted that the longer than BTC fails to surmount a long-term declining trendline at ~$4,600, the higher likelihood that the cryptocurrency’s price could “mirror the price action from September 20th to November 25th of last year.

Per the analyst, this would mean that BTC could trade flat for another two to three months, before falling dramatically to the $800 price point. This, of course, is a worst-case scenario, but Survivalism does allude to a good point about market cycles and behavioral finance.

Read in full https://www.newsbtc.com/2019/03/03/bitcoin-collapse-800-late-2018s-plunge-mirrored-crypto-analyst/

I believe that the analysis was made in other to create FUD and makes investors to began to sell their holding out of panic.  If thoroughly we are to see bitcoin falling to $800 it should not be now that it is a bit doing somehow well.

[vintages]

$800 is way to unrealistic for now, it stopping point is $3000 from the way I see it. But even if it lowered to that price of $800; does it really matter?
The price of Bitcoin will be unbeatable in the future so gladly accept any price you see now, it future will be remarkable.

[BlackPanda]

The cryptospace appears to be beginning to spread bear market irrationality. According to this clickbait news, an up and coming analyst that hides behind its twitter account name Financial Survivalism, bitcoin could drop to $800 if it fails to surmount a declining trendline at $4600.

I reckon the people who controls that Twitter account should talk to the now rational Tom Lee for advice hehehe.

Also, this news might be a scam effort to gain more followers for that account which might also be controlled by newbtc.com. I might also be irrational in this, however hehehe.

In any case, who owns newsbtc?



Another day, another foreboding piece of analysis. A leading analyst claims that as Bitcoin (BTC) has yet to break out of its current range, there’s a growing potential that the cryptocurrency could fractal, and undergo a drop that looks much like that seen in November of yesteryear.

Financial Survivalism, an up-and-coming analyst centered around Bitcoin, recently took to Twitter to issue a harrowing comment. He noted that the longer than BTC fails to surmount a long-term declining trendline at ~$4,600, the higher likelihood that the cryptocurrency’s price could “mirror the price action from September 20th to November 25th of last year.

Per the analyst, this would mean that BTC could trade flat for another two to three months, before falling dramatically to the $800 price point. This, of course, is a worst-case scenario, but Survivalism does allude to a good point about market cycles and behavioral finance.

Read in full https://www.newsbtc.com/2019/03/03/bitcoin-collapse-800-late-2018s-plunge-mirrored-crypto-analyst/

I am not sure it will happen at this time. The development of bitcoin at the time was so good and should have increased. This needs to be appreciated because currently the number of Bitcoin users is increasing, so there are no indicators that can cause the price of Bitcoin to decline to 800USD. As long as we believe in bitcoin then the price of Bitcoin will remain positive.

[Wind_FURY]

price first bounced off $6k in february last year. we crashed to $3k in november. (9 months)

it hasn't even been 3 months yet since the last swing low.

I was talking about a continuous price. It had plunged to 6k in February, but then it raised up back to 11k.

Continously, 6k starts in August, with a peak to 7k. The previous level would be 8-9k.

Right now, we didnt had any return to 6k. It has been 3k continuously since November, touching only 4k recently.

doesn't that just mean we haven't really bounced yet?

the february bottom looked like a real capitulation IMO. this time i'm not sure i believe it. especially because people seem so quick to declare we've seen the bottom. short term can go either way but over the next several months i'm seeing more blood coming.

While the plebs wait, the whalecumulators keep accumulating.

OR, some plebs may have become smarter, that they won't sell any of their coins. Which would be the best decision for their investment in my opinion.

[BitHodler]

$800 is way to unrealistic for now, it stopping point is $3000 from the way I see it. But even if it lowered to that price of $800; does it really matter?
The price of Bitcoin will be unbeatable in the future so gladly accept any price you see now, it future will be remarkable.

It depends on how you look at things. While we were hovering between $6000-$7000 people called you a fud spreader for pointing out that a $3000 visit isn't all that unlikely before the end of 2019.

Admittedly, $800 looks unreasonably low, but I don't rule out a horror flash crash that could tank the price under $2000 but that's just me being realistic. I don't think it will happen, but I'm not going to discard the event entirely.

Look at $800 from this perspective: it's way easier to double from $800 to $1600 than to double from where we are right now to $7500. If it would drop under $2000 I will go big on Bitcoin, like extremely big.

[Wind_FURY]

$800 is way to unrealistic for now, it stopping point is $3000 from the way I see it. But even if it lowered to that price of $800; does it really matter?
The price of Bitcoin will be unbeatable in the future so gladly accept any price you see now, it future will be remarkable.

It depends on how you look at things. While we were hovering between $6000-$7000 people called you a fud spreader for pointing out that a $3000 visit isn't all that unlikely before the end of 2019.

This is true.

Admittedly, $800 looks unreasonably low, but I don't rule out a horror flash crash that could tank the price under $2000 but that's just me being realistic. I don't think it will happen, but I'm not going to discard the event entirely.

But look at the difference between everyone's mood and their behavior when they thought $6,000 was the bottom, and to now when everyone believes that $3,000 support might break.

It might give us different outcomes based on different maket behavior, and reactions.

Look at $800 from this perspective: it's way easier to double from $800 to $1600 than to double from where we are right now to $7500. If it would drop under $2000 I will go big on Bitcoin, like extremely big.

This is one reason why Bitcoin would not crash, or capitulate. Everyone is already expecting it.

[fabiorem]

doesn't that just mean we haven't really bounced yet?

the february bottom looked like a real capitulation IMO. this time i'm not sure i believe it. especially because people seem so quick to declare we've seen the bottom. short term can go either way but over the next several months i'm seeing more blood coming.

No, it means we could have reached the real bottom. At 6k the price was unstable, going back and forth, first to 11k, then 9k, and lastly, to 8k. When 6k got stabilized, it lasted for three months and a half, then falling to 3k.

However, at 3k the price didnt go back to 6k, didnt have any spike to the previous levels. The price just stayed stabilized at this level, until recently, when it touched 4k. Instead of crazy spikes, we are now having a gradual rising. This could mean 3k was the real bottom, and we cant go any lower.

[Slow death]

bitcoin could drop to $800 if it fails to surmount a declining trendline at $4600

basically the guy woke up, took his coffee, turned on his computer and entered the twitter and chose two random numbers:

$800 and $4600

And posted its price forecast. Why the hell do we have to take this bullshit seriously?