Irrational. Bitcoin could fall to $800

[Oasisman]

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?

Because there are a lot of people whos bothered by the possibility for this to happen and worry about the future of Bitcoin and their investment.
For me, I dont even care for the price to go as deep as that number, it doesnt stay that figure forever anyway.

[1714697656]

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[cellard]

This statement seems totally rubbish for me.
I can't really understand what lies behind their claims and what is the point of realizing fake information to the public.

I have stopped reading the news that they do not come from credible websites. This way I keep my trading decisions untouched from manipulative information.

It's rather obvious. Reasonable predictions are just a boring thing which gets no traffic, it's just a matter of clicks. More clicks = more ad revenue. That's all that matters.

As far as the prediction itself, once again seems to be the same hyperwave thing that Tyler Jenks is spreading. At the same time Tyler Jenks makes long term predictions of $10,000,000 per BTC, so there's that. A man of extremes indeed. It's how his hyperwave model works.

I think it will be, as always, a medium thing. The pessimists get it wrong, the optimists get it wrong. I don't see bitcoin going below $1000. The bull orders are just too thick.

[cunicula]

It is hard to say, as far as i believe that bitcoin is hard to fall below 3000 usd as it has a massive support at 3k usd. if it breaks below it then 800 usd is not far.

[Wind_FURY]

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?

The guy woke up, turned on his computer, and decided that $4,600 is where he'll enter his short-sell order. $800 is where he'll enter his buy to cover. Hahaha.

[ngusmin]

Everyone has their own predictions, and for the bitcoin forecast to fall for $ 800, I think that's just a prediction of random origin, and I don't believe that.

[kodtycoon]

so easily people analyze without thinking about the conditions in all exchanges, in fact between $1000 to $2000 there are too many requests that will limit each jump. well there are a lot of walls that we call even too much so it is difficult to crash $800, attracting users to follow only with arguments

[Idrisu]

Everyone has their own predictions, and for the bitcoin forecast to fall for $ 800, I think that's just a prediction of random origin, and I don't believe that.

I don't think there is any analysis behind this predictions and it look like it was a random prediction.  It might not be possible for bitcoin to get to $800 again however in cryptocurrencies notting is impossible. 

[2chase]

At present, I am not surprised at anything, even if it happens that for some reason unprecedented to me, the price of bitcoin drops to $ 800, which most likely will not cause me a special shock, I will just continue to look this philosophically as i do it now. It's hard to surprise me with anything.

[exstasie]

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.

The US has jurisdiction wherever they say they do. It's funny because even though Bitfinex prohibited US customers, the launch of CFTC-regulated futures markets put any company dealing in the spot markets under their perceived jurisdiction. That's why the CFTC launched the investigation around the time the Cboe and CME markets were launched.

Who would have thought they could take down BTC-e or the offshore darknet marketplaces and things like that? They do that kind of stuff all the time. I'll bet the reason they haven't come closed in on Bitfinex yet is the complicated web of shell companies and banks that Bitfinex uses. Like Giancarlo the CFO said once, they bank like criminals. I wouldn't plan on this situation continuing indefinitely. It's a time bomb waiting to go off.

[shesheboy]

At present, I am not surprised at anything, even if it happens that for some reason unprecedented to me, the price of bitcoin drops to $ 800, which most likely will not cause me a special shock, I will just continue to look this philosophically as i do it now. It's hard to surprise me with anything.

good for you because you are already immune and strong  but what about us ?  we are scared of anything that could happen to bitcoin , how much more if its value drop down to 800 usd ? i dont know what to do , maybe i will panic instantly but not to the point of selling my coins .  rather ill panic buy because 800 usd is a one good oppurtunity that strikes rarely  .  the ones that will panic sell are totally out of thier minds  .

[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.

The US has jurisdiction wherever they say they do. It's funny because even though Bitfinex prohibited US customers, the launch of CFTC-regulated futures markets put any company dealing in the spot markets under their perceived jurisdiction. That's why the CFTC launched the investigation around the time the Cboe and CME markets were launched.

Who would have thought they could take down BTC-e or the offshore darknet marketplaces and things like that? They do that kind of stuff all the time. I'll bet the reason they haven't come closed in on Bitfinex yet is the complicated web of shell companies and banks that Bitfinex uses. Like Giancarlo the CFO said once, they bank like criminals. I wouldn't plan on this situation continuing indefinitely. It's a time bomb waiting to go off.

I believe not everywhere, especially not in China's jurisdiction, which includes Hong Kong. Plus not with Donald Trump's trade-war going on against China.

I believe Bitfnex would have been one of the first exchanges to shutdown by the US if they knew China would cooperate.

[figmentofmyass]

I believe not everywhere, especially not in China's jurisdiction, which includes Hong Kong. Plus not with Donald Trump's trade-war going on against China.

I believe Bitfnex would have been one of the first exchanges to shutdown by the US if they knew China would cooperate.

i'm pretty sure it doesn't matter where their headquarters are (or used to be), or where their registration is (the british virgin islands). what matters is where their bank accounts are. how the USA usually operates is to seize bank accounts and force payment processors to freeze funds. that's how they destroy offshore businesses. bitfinex and tether are wiring USD to customers, so they are obviously exposed to this seizure risk. their .com domains can also easily be seized.

[Clark05]

Predicting for the value of the bitcoin at $800 is not good because maybe other will panic selling that cause again dumping. Predicting is free and everyone can predict what is the possible price for the bitcoin. But $800 is really low and I hope it will not happen this year but for sure and 100 percent in the future that will happen but not today. I hope maybe we can predict $8000 not $800.

[Wind_FURY]

I believe not everywhere, especially not in China's jurisdiction, which includes Hong Kong. Plus not with Donald Trump's trade-war going on against China.

I believe Bitfnex would have been one of the first exchanges to shutdown by the US if they knew China would cooperate.

i'm pretty sure it doesn't matter where their headquarters are (or used to be), or where their registration is (the british virgin islands). what matters is where their bank accounts are. how the USA usually operates is to seize bank accounts and force payment processors to freeze funds. that's how they destroy offshore businesses. bitfinex and tether are wiring USD to customers, so they are obviously exposed to this seizure risk. their .com domains can also easily be seized.

Although, are some exchanges easier to shutdown than others? BTC-e's shutdown was quick and easy, but Bitfinex was always rumored to be shutdown, its bank accounts closed by its banking partners, it was also hacked with millions stolen, and it was "broke" and forced to issue its own tokens.

Bitfinex is still standing.

[Ararbermas]

Its impossible mate and it sounds like you saying as well that soon bitcoin will die soon or later such FUD's. Lol do you read some news? Or you are just making your a prediction own your own  which is fake just to intimidate buyers not to buy because you still want to see another dump because you cant afford the current price of bitcoin?. Well it's sad mate because unfortunately it will pump now to new stage.  Lol

[CoinChili]

That will probably change in an instant. Speculations aare circulating to create FOMO and FUD making investors to panic sell their coins. Whales can easily change the market flow. If that's gonna happen, many investors will turn down and leave cryptocurrency.

[The Cryptovator]

I don't believe such as predictions about bitcoin price. We can see on last year, someone predict 10K,  someone 3K and many more. So eventually someone's predictions will correct. Because everyone give different predictions. So usually price will match with someone. But true is bitcoin walking on own way. Strong support on paste year was $3K. In my opinions it was bear market. So I don't think personally bitcoin will break $3K zone. If break then strong support will be $1.5K. So I will not believe bitcoin will hit $800 anymore.

[xvids]

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/

Then whats next? Bitcoin would be back to under $100 ,
Anything is possible but don't you think that $800 is so low even if we compare it to the current price ?
It is really hard to see how could it drop down to $800 .
If I am not wrong when Bitcoin already hit about $1,500 it never get back down below $1,000 .
What else now that it is around $3,800.

[numismatist]

I don't believe such as predictions about bitcoin price. We can see on last year, someone predict 10K,  someone 3K and many more. So eventually someone's predictions will correct. Because everyone give different predictions. So usually price will match with someone. But true is bitcoin walking on own way. Strong support on paste year was $3K. In my opinions it was bear market. So I don't think personally bitcoin will break $3K zone. If break then strong support will be $1.5K. So I will not believe bitcoin will hit $800 anymore.

It's all guesswork, true. Just there are "hard incidents" taking place this year, just take a look at great brittain. There will be a hard "Brexit" and people *will* have to struggle making payments across new borders. And it's good advise to flee the Pound into Bitcoin right now.
Some two weeks still left to accomplish that.

[KennyR]

The price could fall that low if there is some form of decrease in the usage around the globe. Regularly the usage and adoption keeps growing. This assures with the growth rather than fall in value. The market is drastically fallen, but if it was to reach $800, we could have touched by the days when bitcoin showed signs of continued fall. Now the market has gained resistance and the same is making it progress forward reaching $6000 at the earliest as most users predicted.