Bitcoin Price Could Sink to $1,850 Despite Bullish Crypto Momentum

[magneto]

However, speaking to CCN in an interview, a cryptocurrency technical analyst known as “Bleeding Crypto” said that a drop to $1,850 still remains a strong possibility for the dominant cryptocurrency.
Why $1,850 For Bitcoin?

Earlier this month, after Bitcoin cleanly broke out of $4,000 but failed to break out of the crucial $4,200 resistance level, the technical analyst said that a drop to $2,400 to $3,100 is likely to be the next near-term move for BTC.

Just because a resistance isn't broken, doesn't mean that all of a sudden, prices are going to tumble down.

I respectfully disagree with this person's sentiments, because I think that during this bear market people have gained a much more realistic expectation of the market compared to the FOMO in 2017. This means that the markets are most likely going to be less responsive to negative news, which means that panic dumping to result in a further -50% loss, especially at this stage of the bear market when the floor seems to already be in any ways is very unlikely.

This is not to mention that there are plenty of adopters now gained from the bull market of 2017, as well as the institutions that entered in 2018 that will likely spark demand for cheap coins at lower price levels.

I wouldn't necessarily call the current momentum bullish either. It could be the start of a recovery, but we are yet to see any form of major rally happen. Though, $4k resistance is only a matter of time before it gets breached.

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[Whosdaddy]

According to the analyst, in mid-2017, Bitcoin remained in the $2,400 region for several months before dipping to $1,850 and establishing a bottom following the Bitcoin Cash hard fork, which led to a bearish trend in the market.

Well none of that sentence is true. just none of it.

You know everyone wants to just have their own opinion just to gain popularity or respect as someone who has verse knowledge of the system, meanwhile they have none. Why should he predict judging it from the angle of trend when trend has no influence of the current way it operates ? None of them really makes any sense as you said; these are the bunch of news about Bitcoin still limiting its progress too.

This was how a well-known analyst too predicted that by march, bitcoin will fall to $1800, this is march and bitcoin has not even fallen below $3500.

[tomahawk9]

People have been predicting sub 2k since last year, and I have yet to see the price go down sub 3k. Maybe that there's people that still have a somewhat bearish sentiment left over even though we've gotten rid of that sentiment by a lot over the last few months.

Imagine if people actually believed those sub 2k predictions, they must be kicking themselves in the head now after missing out on buying at the low 3k range because they thought it was going to go down when actually the opposite happened.

But all in all, to me, this article is either FUD, or the "analyst" got paid a big sum by a big whale that still wants to buy cheap coins.

[dodgrad]

In order for Bitcoin's price to fall below $2,500 it would have to rise very rapidly - break the $4,000 barrier and jump to about $5,500 - $6,000. Only from such a level would it be possible to create a new panic sell and find a new bottom.

[Wind_FURY]

OP, I believe someone is very distressed, spreading FUD, because he might have miscalculated and missed a good opportunity of buying the "low" $3,000 to $3,500 price limit.

[Lucius]

Just remember how much we were sure the price would not go below 6000$, but this has happened after months of stability. I do not think that's the same situation now, although it is evident that 4000$ is hold very strong resistance for now. Usually after a few attempts to broke such resistance point, in case to be unsuccessful, the price starts to move in the opposite direction.

I personally do not believe we can drop so low, but some speculators believe in that possibility - and most of them are saying that 6000$ will be broken with time, which is exactly what happened. We can call it FUD, or just attempt of some players to buy bitcoin at cheap price, but the rule is that there are no rules when it comes to bitcoin.

[gentlemand]

It's conceivable. If there was any sustained selling most would run screaming and let it fall. There are very few people out there willing to resist a concerted attempt to batter a price level. They come skulking back when it's all over and claim they knew it was going to happen all along.

I don't care any more about short ish term prices. What will be will be and nothing will change it.

[BUK2016]

I don't just to believe any speculating the market without any strong evidence to back up there speculation and personally with the look of things in the crypto currency market and the news coming in, I don't think there will be any further decline to the turn of $1,850 in five months to come.

[shesheboy]

In order for Bitcoin's price to fall below $2,500 it would have to rise very rapidly - break the $4,000 barrier and jump to about $5,500 - $6,000. Only from such a level would it be possible to create a new panic sell and find a new bottom.

I dont think that 5k+ usd to 6k usd can create a panic sell  . thats too low imo  .  people wont probably continue to hodl and buy more coins if they see that bitcoin is skyrocketing  .  we dont need to see any ath before we decide that bitcoin is going to dump because btc could actually dump anytime if ever people will sell their coins . whales can also dump the entire market if they want to  .  lets hope they dont  ,

[Caladonian]

In order for Bitcoin's price to fall below $2,500 it would have to rise very rapidly - break the $4,000 barrier and jump to about $5,500 - $6,000. Only from such a level would it be possible to create a new panic sell and find a new bottom.

I dont think that 5k+ usd to 6k usd can create a panic sell  . thats too low imo  .  people wont probably continue to hodl and buy more coins if they see that bitcoin is skyrocketing  .  we dont need to see any ath before we decide that bitcoin is going to dump because btc could actually dump anytime if ever people will sell their coins . whales can also dump the entire market if they want to  .  lets hope they dont  ,

That's right, wen need to be more wiser not to wait before the momentum change, as we are continue to witness the down and fall coming out
from this market, we don't need to wait but we need to believe with our own assessment, this market will be a great venue for people who can
handle risk and always willing to stand their grounds.

[raven7886]

Despite the fact that he came of live TV to analyze this, everything is still speculation because no one is really sure of the direction the coin will take since the major determinant is the usage and adoption of the coin. This year will record its number of newly introduced investors to BTC which will definitely have a very great influence on the value of bitcoin, and so long the market cap keeps increasing. I see no reason why BTC will fall below $3000 but rather keep appreciating till it succeed in finally breaking the $4k resistance.

[Bitcotalk]

I disagree so much about bitcoin price sinking to $1850, if the price of btc is going to get to that stage, then I think we should be there already. Bitcoin has built a resistance around $3000 and I don't think the resistance would be broken in a negative manner but rather in a positive way because we a going to see a massive bull run in the price of bitcoin especially at the fourth quarter of the year when everyone has given up.

[Juggy777]

I disagree so much about bitcoin price sinking to $1850, if the price of btc is going to get to that stage, then I think we should be there already. Bitcoin has built a resistance around $3000 and I don't think the resistance would be broken in a negative manner but rather in a positive way because we a going to see a massive bull run in the price of bitcoin especially at the fourth quarter of the year when everyone has given up.

Hey Bitcoins is not sinking anytime soon and all these numbers are just a ploy to make you sell your bitcoins. If you may have observed everytime bitcoins starts to rise post a bear phase these so called analysts come up with similar numbers, the fact is they’re jealous and upset they sold it early. Also it’s pertinent to note that bitcoins has a strong resistance around 3300$ levels so there’s no way it’ll sink.

[Wilhelm]

Look at the 1W charts. We are crossing the bollinger band center. If we pass we have a good chance to easily go to $5500.
The passing of the 1W bollinger band is a bullish sign in my opinion.
We won't see Da M00n soon but we will see a slow steady increase in the oncomming year.

[Lucius]

~snip~

Bitcoin is also have resistance at 6000$ for months, and then when most people expected some December bull run it just sink to 3000$. I wonder why you think that massive bull run can come at the end of the year, and what will make the difference compared to the previous year?

In my opinion only some big positive event / news can be a trigger for bull run, which should never be excluded as a possibility. But some bad news, or hack of big exchange can happen at any time. We need to be positive and hope for the best, but at the same time we should not forget how bitcoin is unpredictable.

[ajqjjj]

Look at the 1W charts. We are crossing the bollinger band center. If we pass we have a good chance to easily go to $5500.
The passing of the 1W bollinger band is a bullish sign in my opinion.
We won't see Da M00n soon but we will see a slow steady increase in the oncomming year.

I think this month gradual pump and dumps are happening because If we saw the last week chart and 4 years ago chart some coordination was happened so we will expect the bull run on April or May. Already cryptocurrency awareness was spread in entire world so some countries are plan to legalised in Bitcoin. This year market was totally different from last year so Bull run possible soon.

[bitbunnny]

The situation on the market that we are having now I wouldn't call bullish. It's still far away from that, it's just smaller positive price correction which still doesn't show clear direction or trend. So, changes in both ways are possible and that also includes price dump. Would it be as low as 1800$ this is hard to tell, it depends on many parametrs. Still I don't expect some huge price downfall, it's more likely that it will stay in current range with smaller fluctuations in both ways.

[eaLiTy]

So our prediction basis is someone named "bleeding crypto"? Wonder why someone named bleeding crypto would make predictions about bitcoin going down... I mean from just his username of "bleeding crypto" it looks like this dude usually always says positive things about crypto and pretty much is a big bull guy but said it will go down just for this once.

The user name is exactly what he is predicting, he is predicting a downfall which means the market will bleed in the near future. 
@OP if anyone is so confident that the market will go down like that, he could make a lot of money in the future market, just use his talents in technical analysis and make a hell lot of money with those analysis and then he should publicly post his exploits in the market when the entire market goes down, rather than posting technical news after news without much substance.

[LUCKMCFLY]

Well, if it's just a technical analyst with a chart base, it's debatable, it's not so bad that I can go down to those levels, it's totally valid, but I find it a bit difficult to reach those prices, as it would cause disappointment. in many people, and they would leave the market, they would kill all their castles in the air, as they say in the book of A Random Walk Through Wall Streeth by Malkiel Burton..

And most market speculators are interested in many more people entering the market to invest, there are also many enthusiasts interested in the technology that represents and have a good future and, from the point of view of analysis, We are in a phase of Accumulation (according to Wyckoff's philosophy).

Truth would not trust me in those analyzes, I'm sure the technical analyst has never shown his operations or his balance.

[HODL2090]

Bitcoin below $2000 seems very unlikely, but I have learnt nit to rule out any scenario in this market. But this is just an opinion of one and as such does not hold much weight. Can Bitcoin drop to zero? Yes it can. But is it likely to? No!