Are We Going Back to $7,000?

[marcbitcoins]

I think this latest Bitcoin market declined was due to hackers who just sold their stolen Bitcoins from exchanges but fortunately the market was able to recovered as maybe the other investors see it an opportunity to buy that is why it will never going back to $7,000 again.

[KlepZ]

Bitcoin’s steady climb to $7,000 appears to be due to improving bitcoin and crypto sentiment and technical data spurring on the market. The bitcoin price, beginning the year at under $4,000, hit $7,049 on the Luxembourg-based Bitstamp exchange earlier this evening.Meanwhile, bullish analysts have continued to voice their support for bitcoin ahead of one of the biggest events in the cryptocurrency calendar starting next week Blockchain Week NYC and CoinDesk’s Consensus 2019 event, beginning Monday, May 13, and running all week at the New York Hilton Midtown.

[Cherylstar86]

I think this latest Bitcoin market declined was due to hackers who just sold their stolen Bitcoins from exchanges but fortunately the market was able to recovered as maybe the other investors see it an opportunity to buy that is why it will never going back to $7,000 again.

   Declination may shown a good opportunity to every investor who are eager to earn accummulate profits, still I am hoping that bitcoin's value will never undergo beyond $8k, because we are suffering bearishness for too long and recently it shown arouse progression, yet gradually dump. Still I keep my fidelity and positiveness for every possible conclusion.

[xvids]

I don't think that it would be down to $7,000 again it is playing around $7,900-8,000 .
If it does go down the lowest price would be around $7,500 because the investors would surely take the chance to buy it so it wouldn't stay low for a long time.
But if it does break it's current price range then maybe it would start climbing to $10K.

[wuvdoll]

It wouldn't be impossible to go back to 7000, it is mathematically and technically quite possible, however the hype and attention bitcoin has right now can only cause it to go up and common sense states we won't be seeing 7000 for a while, maybe never who knows. It is only possible if something like what Craig Wright did happens, if some rich whale comes up and sells 50 thousand bitcoins all at once on 5 different huge exchanges then you can bet that price of bitcoin will plummet to who knows where.

Unless that happens the hype is real and bull run is here so we are going to try our best to make it go beyond the all time high price once again and will make sure the support is strong in every single level below that to make sure we don't go down that fast ever again.

[buwaytress]

I wouldn't rule out a return to the lower or mid $7000s in the short term either as it seems we're having a somewhat difficult time breaking over $8000-8100 at the moment, though most of the dips that have occurred recently have also been bought up relatively quickly. Can't rule out an unexpected large wick down like what happened on the 16th of May either. I would be extremely cautious margin trading for now, keep watch on your positions and close out as needed.

7,000 or lower? I wouldn't even rule out 5,000 to be honest. We're talking short term here, and that to me means till the rest of the year to wait out. We saw a huge pullback happen already for 20% losses and it could be a very different story if we didn't see this remarkable recovery to just below 8,000.

Another 20% slide from that 7k would have seen us at 5400... And then you know how people panic when they see their stash lose that much that quickly. Emotion is a funny thing in this market.

[Gozie51]

I wouldn't rule out a return to the lower or mid $7000s in the short term either as it seems we're having a somewhat difficult time breaking over $8000-8100 at the moment, though most of the dips that have occurred recently have also been bought up relatively quickly. Can't rule out an unexpected large wick down like what happened on the 16th of May either. I would be extremely cautious margin trading for now, keep watch on your positions and close out as needed.

7,000 or lower? I wouldn't even rule out 5,000 to be honest. We're talking short term here, and that to me means till the rest of the year to wait out. We saw a huge pullback happen already for 20% losses and it could be a very different story if we didn't see this remarkable recovery to just below 8,000.

Another 20% slide from that 7k would have seen us at 5400... And then you know how people panic when they see their stash lose that much that quickly. Emotion is a funny thing in this market.

Far from $5,000 we are. The market has a mechanism for some backslide which is what it has done already. Just like when it was bear, it also had a time for buys too after then it continued bear and I believe in this way, it has continued it trend.

[oseikuf44]

I don't think so. Before any bull run the market normally experience up and down until it break the 8000 price upward. It is time Bitcoin is picking up and coming below 7000 USD is a no go area.

[OrangeII]

I don't think that it would be down to $7,000 again it is playing around $7,900-8,000 .
If it does go down the lowest price would be around $7,500 because the investors would surely take the chance to buy it so it wouldn't stay low for a long time.
But if it does break it's current price range then maybe it would start climbing to $10K.

well, right now we are at $ 7800. that is natural, because the price of bitcoin is indeed unstable, but prices are now approaching $ 8000, and have the potential to be even higher. when prices fall, it's natural, and now, of course, people are very optimistic about the increase in the price of bitcoin at the end.

[1Referee]

7,000 or lower? I wouldn't even rule out 5,000 to be honest. We're talking short term here, and that to me means till the rest of the year to wait out. We saw a huge pullback happen already for 20% losses and it could be a very different story if we didn't see this remarkable recovery to just below 8,000.

Another 20% slide from that 7k would have seen us at 5400... And then you know how people panic when they see their stash lose that much that quickly. Emotion is a funny thing in this market.

I like that. It seems that people have gotten more bearish in the short term, which might be resolved in a powerful green candle to the $8500 resistance.

People (moon boys mainly) were full of confidence on the way up, kept drinking hopium after it topped out, and now the price has been moving side ways longer than they expected, hopium lost its effect and as result fear starts to creep in. You got to love how volatile people's mindsets are. It's more volatile than the price of Bitcoin itself. 

I'm prepared for both up and down movements, so I can sit back and enjoy how the short term price action will play out.

[exstasie]

In the short term, I'm not sure we can get all the way back to $7,000 again. That momentary selloff the other night was bought up very quickly, exhibiting very strong demand at lower levels.

If we break down from this $7,900 area, I see a zone of support in the $7,200-$7,400 area. My guess is that's where any correction will stop. Then we'll probably go on to new highs.

[n0ne]

I don't think that it would be down to $7,000 again it is playing around $7,900-8,000 .
If it does go down the lowest price would be around $7,500 because the investors would surely take the chance to buy it so it wouldn't stay low for a long time.
But if it does break it's current price range then maybe it would start climbing to $10K.

well, right now we are at $ 7800. that is natural, because the price of bitcoin is indeed unstable, but prices are now approaching $ 8000, and have the potential to be even higher. when prices fall, it's natural, and now, of course, people are very optimistic about the increase in the price of bitcoin at the end.

The price at which we stand is quite high compared to the quoted $7000. I too believe that the market is the same, and being volatile or fluctuating is its common growth manner. Until it gains resistance we'll see this price, and once achieved it will start moving to cross $8000. If it was towards $7000, days back when it fell back to $7300 by that time it could've taken place.

[leowonderful]

7,000 or lower? I wouldn't even rule out 5,000 to be honest. We're talking short term here, and that to me means till the rest of the year to wait out. We saw a huge pullback happen already for 20% losses and it could be a very different story if we didn't see this remarkable recovery to just below 8,000.

Another 20% slide from that 7k would have seen us at 5400... And then you know how people panic when they see their stash lose that much that quickly. Emotion is a funny thing in this market.

I completely agree, seems like we're continuing to sit right at or under $8000 for the time being and it seems to me a breakdown is more likely than a break above $8K at the moment. Longs also outnumber shorts on Bitfinex at the moment according to Datamish. I have a small long still open as I haven't had very good luck shorting this market recently, but things indeed look a bit shaky at the moment as the price slowly slides farther from $8k.

[michellee]

We already stay at $7,000-$7900 from yesterday, and the price now was trying to break the higher price, and I am sure the price can do that. But we need to be patient and don't sell too fast because we could wait for a while until the price can increase more than $8,000 and then we can sell some bitcoin. But I don't think that the price will go lower than $7,000 in the next month because that will makes people being panic if they see that price happen.

[jademaxsuy]

I think not because the market has been decided by the investors and it seems that whales are holding back their btc up to bull run. There maybe a fluctuation this probably weak hands could not control by selling their btc holdings after seeing a minimal profit that has happen in tue current market. But, mind you that this will not going to go dow. instead many some weak hands will going back to invest bitcoin and eventually market will going to recover.

[Herbert2020]

7,000 or lower? I wouldn't even rule out 5,000 to be honest. We're talking short term here, and that to me means till the rest of the year to wait out. We saw a huge pullback happen already for 20% losses and it could be a very different story if we didn't see this remarkable recovery to just below 8,000.

Another 20% slide from that 7k would have seen us at 5400... And then you know how people panic when they see their stash lose that much that quickly. Emotion is a funny thing in this market.

I completely agree, seems like we're continuing to sit right at or under $8000 for the time being and it seems to me a breakdown is more likely than a break above $8K at the moment. Longs also outnumber shorts on Bitfinex at the moment according to Datamish. I have a small long still open as I haven't had very good luck shorting this market recently, but things indeed look a bit shaky at the moment as the price slowly slides farther from $8k.

we are behind the $8k price because this is the real resistance and all the previous levels which people thought were "resistances" were really only a price on the way to this point. not to mention that because of the dumps earlier this year price was below the real intrinsic value and it needed to "jump" back up to this point which should have been reached months ago.
and that is why i don't see any drops without any really serious drama!

[Gaff]

$7k to $8k range was within the range right now on bitcoin price, and it's barely playing over it's fluctuating trend. The activity was showing deep momentum cycle, as it's trending towards the highest price. Although the situation was not having an exact phase of increase signals, it's always a positive approach towards price increase capability.
Don't give up, just have a focus on every opportunity that will come because in survival your chances always depends on the outcome. You can't say the final conclusion unless, you did what's the best that you can do in order to succeed.

[OrangeII]

We already stay at $7,000-$7900 from yesterday, and the price now was trying to break the higher price, and I am sure the price can do that. But we need to be patient and don't sell too fast because we could wait for a while until the price can increase more than $8,000 and then we can sell some bitcoin. But I don't think that the price will go lower than $7,000 in the next month because that will makes people being panic if they see that price happen.

however, the price of bitcoin is so close to that price. but, paying attention to what happens every month, the bitcoin price at the end of the month always shows a decline. I hope the current decline is no more than $ 7500. well, even when the price is so close, the potential to have a high price is of course so big.

[deisik]

In the short term, I'm not sure we can get all the way back to $7,000 again. That momentary selloff the other night was bought up very quickly, exhibiting very strong demand at lower levels.

If we break down from this $7,900 area, I see a zone of support in the $7,200-$7,400 area. My guess is that's where any correction will stop. Then we'll probably go on to new highs

This whole thing looks very suspicious to me

If you were following the prices as well as news, you would have noticed that the major price movements as of recent are mostly related to Bitfinex in some way (and their litigation with the New York Attorney General’s office). Unsurprisingly, the fast rise from lower 4k had begun shortly before Bitfinex announced they had 850M dollars arrested. So how much of the current growth is organic, if I can say so? Could this rally have been caused by Bitfinex doing something nasty again (like printing tethers and buying up bitcoins to fill their liquidity gap)?

[boyptc]

I don't think so. Before any bull run the market normally experience up and down until it break the 8000 price upward. It is time Bitcoin is picking up and coming below 7000 USD is a no go area.

I won't be that confident to say that $7k and below is a no-go area for bitcoin.

Every price is of possible until we see heights that are too far from that. But today, we're still on the axis of $7k and it's likely that we can go down anytime.