Irrational. Bitcoin could fall to $800

[dothebeats]

This is not new as there are naysayers and doomsday predictors that linger around the crypto ecosystem even before the strings of bad luck happened to bitcoin. Sub-$1000 predictions had been around ever since the $19k ATH was broken, so I guess it will not be completely dissolved as long as we are still experiencing a bear market.

As if we're not already used to these kind of statements and analyses that pop every now and then? They are shilling for whatever motives they have and that's fine for me.

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[xuv500]

Could this be an end of crypto's? If bitcoin goes to $800 then how about the alts which are following BTC from long days. Most probably this will not happen however we need to be ready to stick to any kind of situation. predictions these days don't work.

[el kaka22]

There has been people who said bitcoin could go to a million dollars as well. Both sides have their crazy people and at least us people who have common sense and a bit of bitcoin do not follow these type of people, it would be horrible if most people followed these kinds of people and invested accordingly. Could bitcoin hit 800 dollars ? Mathematically of course, it could even hit 1 cent, after all its a mathematical deal and we can is it either 1 cent or 1 billion and nothing would stop that.

Moreover, in reality 800 dollars will never happen again in all of bitcoins life, never again, not now not in the distant future, those days are long gone behind us now. Could it drop a bit ? Sure, maybe who knows it could even reach under 3 thousand dollars, I doubt it but its not impossible but 800 dollars is just waaaaaay too irrational.

[munify]

Nobody knows for the future, it could be true that bitcoin fell at a price of $800, but that possibility is very small given the popularity of bitcoin. Honestly, I never thought that would happen.

[fabiorem]

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.

[egyptian magician]

Anyone else feel like we haven't really hit the despair stage yet? Once we see HODLers giving up and selling at a loss, and the true believers being mocked and ridiculed, I think we'll be there and truly have our bottom. Will it take $800 BTC to get there? Probably not, but I do expect we'll have at least one more steep drop followed by months of sideways movement before we're really out of this bear market.

[Upgrade00]

Once we see HODLers giving up and selling at a loss, and the true believers being mocked and ridiculed, I think we'll be there and truly have our bottom.

We may possibly have both of that happening right now. There has been so much FUD spread in the past few days about the price and that could serve as ridicule of true believers. And hodlers may as well be cutting their losses. Exchanges are always going on, so it's quite impossible to pinpoint a time when hodlers pack up.

I take FUD as well as FOMO with lots of reservation. Amd I'd prefer if members stopped propagating them here on the forum.

[barota]

all these predection prices bitcoin, for example: 100 usd or  800 or 1500 or 50000 or 100000 or 250000...... Unrealistic and Does not help stabilize prices. People have to be conscious
real price of bitcoin at this time should be 4500 and 7000 after 6 month

[semobo]

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.

Then why the price came down from $6000 to $3300? We can't really say that it may happen if the people are taking their profits out from their holdings but hopefully we are not going that much far.

[figmentofmyass]

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.

it looks like garbage analysis. he's extrapolating the magnitude based on a past move---no regard for supply/demand and S/R, just elementary fractal "analysis" that would be laughed out the room by any competent traders.

he did it based on linear scale too. what an idiot.

$800 is possible, but this guy's analysis is garbage. the only truism here is that we're still stuck in a downtrend and the most likely long term direction is down.

[LUCKMCFLY]

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.

it looks like garbage analysis. he's extrapolating the magnitude based on a past move---no regard for supply/demand and S/R, just elementary fractal "analysis" that would be laughed out the room by any competent traders.

he did it based on linear scale too. what an idiot.

$800 is possible, but this guy's analysis is garbage. the only truism here is that we're still stuck in a downtrend and the most likely long term direction is down.

The analysis does not make sense, it seems an unfounded prediction, you have to do an analysis in which you consider almost all temporalities, it seems a bet. The technical analysis can help you a lot, but you have to take into account the values ​​that are now according to the current events, you leave out many elements.

[magneto]

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?

I would say it's a typical analysis posted by a so called "expert" in bitcoin price speculation, in a bear market.

Who the person that is posting this is honestly irrelevant, but technical analysis can be manipulated in different ways to produce different predictions to support a person's narrative, and can even create the illusion of authority in predictions. And I think that this is what is happening in a lot of these media outlets covering bitcoin price movements.

I simply don't see bitcoin going down to three digits any time soon, the fundamentals of bitcoin has only changed for the better since the ATH in 2017, and there is no reason to panic so hard now just because the sentiment of the market is bearish. The demand (especially institutional) for bitcoin will likewise pick up drastically when prices do fall through $2-3k, which would suggest a sizeable rebound before prices ever get to that low.

[AjithBtc]

Any form of change could happen with bitcoin, the price could fall low to $800. Why I say on a common man's view, because when the price was above $5000 it was predicted to be the low bottom and $5000 being a standard price for bitcoin. Things happened in the opposite way, and the same is the reason that bitcoin might go reach $800.

[Question123]

There are dozens of predictions like this , some saying price will go to $50k other saying it will go under 1000$. So its better not to listen to anyone since everyone has different opinions and they are always going to come with arguments why price will go up or down doesnt matter if we are in bear or bull market.

It's them choice if they want to listen to their prediction or not. But make sure the prediction is near to the realy or realistic. I alsp a lot of prediction who predicting a huge price for the bitcoin which is not happen for sure in the future. There is someone who predicting $1M for the bitcoin but this prediction now which is $800 is possible to happen because for sure in the end they have chances in the future that price will really happen.

[exstasie]

Bitcoin could fall to $800. Acknowledging that isn't irrational. There's even a decent bear case to be made.

But this dude didn't make a good case. His chart has no respect for historical support and resistance. There's no reasoning behind the scope of the drop......another 80% drop, in a month? Seriously? Based on what? Yes this is a bear market, but we might as well predict $100 or $10 then. There's no rhyme or reason to this analysis. He's just predicting a crash so huge it's unprecedented, and based on zero evidence.

[Oceat]

This post is total rubbish to me because of people who keep FOMOing and following the trend just to create a FUD to everyone. Where do you get this $800 anyway? So do you think Bitcoin would dive in straight at the bottom while you drew some lines like that? Do you remember that we have whales? So by the time a bullish trend start, they will eventually make the biggest changes in the market too.

[gabbie2010]

Those technical analysis wouldn't work as far as BTC price is concerned Bitcoin does defies those TA in most cases without any doubt bitcoin can never fall to $800, so many predictions during last BTC ATH that it would hit $50K backed with TA by the so called expert traders however in the long run BTC defies their predictions and pullback to a bearish run which is presently experienced likewise this prediction wouldn't stand test of time.

[fasdorcas]

I don't agree with your analysis, I don't see any chances of bitcoin dropping to even as low as $2000 in the nearest future, the initial drop was actually caused by the uptrend in 2017 which lead to over 1000% profit in bitcoin, so everyone who benefited began to take out profit since it was predicted by experts that the price might not go pass $20000 and it's advisable to take out profit.

The correction began in the market all through the year 2018 and it's now time to see a bull run.

[Dreamchaser21]

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.

Then why the price came down from $6000 to $3300? We can't really say that it may happen if the people are taking their profits out from their holdings but hopefully we are not going that much far.

There is reason why is this happening, maybe whales are trying to dump the market again so they can buy a cheaper bitcoin because we all know that the next halving will begin next year and the price can be more expensive that can actually generate profit to them. I don't see a trend for bitcoin to go lower than $2k again. We will rise for sure, the bottom was hit already.

[pooya87]

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.

Then why the price came down from $6000 to $3300? We can't really say that it may happen if the people are taking their profits out from their holdings but hopefully we are not going that much far.

going from $6k down to $3k had nothing to do with "taking profit", it was purely based on manipulation and panic because of the bcash fork FUD attack and the market was ready at that point to either see a launch or a panic sell wave like this.
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.