Bitcoin faces more decreases

[BrewMaster]

it is funny that people were saying the exact same thing when price was in the range very similar to these days but between $3.5k and $4.1k. they kept calling it "decrease" and just like OP claimed price is going to fall more and never see 5 digits this year again...

when will people learn that these are just accumulation phases with some sideways action before the big rise comes.

[veleten]

people incline to fixate on round figures like 20.000 , 30% etc. etc. , it is the trend that matters , not if we break a certain figure this year
20.000 was never a target and we should be happy to reach 13.000$ high this year
just look at the falling markets everywhere , while it could be beneficial for bitcoin since capital flows out of  your regular safe investment havens that there are none nowadays
and come to the risky assets such as cryptocurrencies , this signals that the world is on a brink of one of the worst crisis since 2008
I won't be surprised if we wake up , in a week to 7.000-8.000 price , but I expect it to stay somewhere between 9.200 and 10.500
and once again , disclaimer: you never know with bitcoin , how many pro traders you know with consistently correct price predictions?
yup , none

[Jating]

for this time I can't predict how much BTC goes down and goes up at the end of the year,
Today's decline is beyond my prediction, BTC should be going to 12,000 USD, but it's going down very deeply today,
but in the science of bounce ball, the deeper the fall, the higher the rise, hopefully.

Way below $12k now and even $10k, it just hit $9600 and I'm sure a lot of noobs are panicking right now seeing the price just continue to plummet. Everyone thinks that after $12k the price will continue, it doesn't work that way though. Bitcoin price is very unstable and the main driver (supply and demand) will shift gear without any notice.

The big bull run is not going to happen this year (in my opinion), we need some trigger, and that catalyst would be the block halving in 2020.

[leowonderful]

Absolutely unprecedented selling at the moment with RSI exceptionally low on the 4H (14 consecutive red candles on the 4H on Bitmex, one barely green candle interrupts on GDAX), and Stoch RSI glued to 0 for the last several hours as well. Definitely a lot of people panic selling at the moment, and it seems we've been blowing past supports recently as well. Wouldn't advise doing anything for the time being at all until the dust settles, because many indicators are pointing to being severely oversold on many timeframes but we just keep grinding down.

[adaseb]

Yes the selling is still advancing and everything across the board is in the deep red. Some alts are down 10% relative to BTC and BTC is down itself also 10% so its getting pretty bad.

The $10K which we assumed would be decent support basically broke like butter and the sell-off went further. I am assuming this is due to that Chinese Ponzi where they were sending funds to various exchanges and selling their Bitcoins and Ethereum. Reminds me of the BitConnect event which is what caused BTC to peak at $20K and go down to $3K a year later. Hopefully this won't be the same situation this time.

[pieppiep]

Yes, the price now has decrease than yesterday but I hope that the price will not go down below than $10k. Many people still waiting a good time to buy more bitcoin, especially for people who have much money, they won't let this opportunity go without buying bitcoin. We need to be careful to decide because bitcoin price still up and down and we don't have the right information about that except by watching on the market and make our prediction base on the market. But I am sure that this is not going to stay for a long time because bitcoin still trying to increase and still waiting the good time to lift the price so maybe we need to wait until the next week.

[Distinctin]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

There is a drop, that's pretty evident, in fact, BTC dropped to below $10,000 today, and still trading at $9900 as of this writing, however I don't think this would affect the possibility for bitcoin to reach $20,000 before the end of this year.

There's still a lot of time, BTC can pump 100% in a week, and the fact that BTC has stayed $10K as it's average price, there's no doubt that 100% possibility will help BTC to achieved it's new ATH.

Just wait for the big bull run, and let the FOMO take charge of everything.

[1Referee]

I am assuming this is due to that Chinese Ponzi where they were sending funds to various exchanges and selling their Bitcoins and Ethereum. Reminds me of the BitConnect event which is what caused BTC to peak at $20K and go down to $3K a year later. Hopefully this won't be the same situation this time.

Nah. People always try to connect dots but that's just how they are. It helps whales unload a portion their bags to take off some risk without being called manipulators, because now people have pointed their attention to this ponzi scheme and blame them for the decline in the price.

XRP is actually quite an interesting coin to follow when it comes to measuring the sentiment within the crypto market. It has been slaughtered before Bitcoin and Ethereum hit their daily lows, and that while XRP is usually not as volatile as other cryptos in both the up and down directions.

Poor altcoiners. They believed that when Bitcoin would take another hit the altcoin season would start, but it seems that smart money isn't sharing the same opinion.

[btc78]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

We had recovered to above 10k$ again from suffering a bad day yesterday,I think we will not going any dip than this as market has a strong hold to below or above $10,000
And this is a normal trend to dump atleast up to 10% but not to go more than that

bitcoin still prepare and make correction in market before going to the moon, now we are in the middle of year, like data based on previous chart from few year ago, we can see the same condition and you know what happen later, just prepare yourself for bitcoin wave

It’s too early to predict the wave because we’re still in the midst,I think we will continue having like this for atleast until 4rth quarter before mooning in atleast November or December

[Slow death]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

This is the source of the news:

Bitcoin Price Bounces Back to $10K on Fresh Bullish Sentiment

When the price drops so much these analysts always come in to make pessimistic forecasts, but whenever they make optimistic forecasts, they never get it right. I'll follow up to see if they will get it right

Some alts are down 10% relative to BTC and BTC is down itself also 10% so its getting pretty bad.

Altcoins are dying

[davinchi]

I think ever since that big drop there is a lot of people who are afraid price will see a bear year and they will never see their profits hence whenever there is a fall there are people who get panic and sell all of their coins to avoid same thing happening to them.

However, what they are missing is that price didn't skyrcoketed here, it has been here for months now and that means there is a settlement here where people are fine with this number and not trying to cash out their profits, that is the difference.

Of course, they are still free to do whatever because when they do sell that means we are getting rid of the weak hands and gathering more and more investors who are long on bitcoin and doesn't care about the price now. I hope more stuff like this will happen soon because I really want to see all these runners to go away and all big corporations get into it.

[South Park]

Why look for a larger increase. We already went up for a high increase in value already.
For some it is already Christmas but I think some are just too greedy and want some more.

I would rather stay with this price for now and until the end of the year. The sudden increase is too questionable and it might cause the bitcoin technology to be banned to other countries which could worsen the value of bitcoin with low usage and investors.

I agree, I understand the natural desire to want to get more profits that every investor has, but except for those that bought during December of 2017 everyone else should be in profits already, trying to push the market even more will only create an artificial pump in the price that will most likely make the price crash in the future, besides we need to prepare since in my opinion the growth that we saw during the previous months is nothing compared to the potential growth that we could see in 2020 or 2021.

[dark08]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

This is a correction of a massive pump for bitcoin the bad thing that I see in this dump most altcoin are suffer and continue to dump.
Most of us want to see another alt season but in this bullish run altcoin are dying.
Let's just see if altcoin will back to normal but right now I'm expecting a pump up again for bitcoin.

[STT]

The $10K which we assumed would be decent support basically broke like butter

10k itself isnt support, its the areas around it above and below that are like gates open or closed.   RIght now I think we are open to move through this area more easily.



Just 5 minute bars but I think its struggling to recover above the basic low first seen after the 13k sold off, $10,300    If we cant bounce this much the market is more likely to go lower before it really turns properly and is more bullish.   So more work to do, more time before its positive.

[RealMalatesta]

Taking you back to memory lane a little bit, remember that you never really see bitcoin reaching this height it has reached now just within 3 months, and now we still have like 4 months more, anything could happen that will turn things up, so I would not completely agree with you that bitcoin reaching $20k this week will not be realistic.

There are some developments that are bound to really manifest by the last quarter of this year, and this could have some effect on the price of bitcoin since majority of investor would always make bitcoin their first choice of interested irrespective of the project that invited them to the market, but if bitcoin does not reach that price this year, the value it is presently on which I do not think it will go lower than is still much okay.

[LimLims]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

The price is fluctuating now due to the fluctuation in the trading volume.
People are really now a days involved in buying the coin.
So it's not too far to see Bitcoin again at 20k usd.
Many have predicted that BTC will reach 20k usd by the end of this year.
Nevertheless lets wait and hope for th best.

[veleten]

bitcoin and cryptocurrencies market in general prove once again that they are unpredictable
several hours ago the price went down from to 11.400$ to 9.400$
and almost al of the "analysts" started crying bear market , quoting various reasons
once the price went below 10.000$ sources reported that Coinbase bitcoin holders started to buy in bulk
driving the price back over 10.000$ mark , it sits at 10.500$ at the moment of the post
proves once again , that the situation on the market changes so fast that it is almost impossible to predict and all of the predictions are only working 50% of the time - they either work or they don't  

[Lanatsa]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

Whats make it not realistic? Its never been realistic neither which way you do see either a bull run or bearish ones.Market is always been unpredictable and I don't see for it to be

tagged up by any analyst forecast on possible drop since they aren't correlated at all.People are way hoping too much more reaching ATH on this years which isn't still possible to be that fast yet we would still need to face a hell of a bumpy road before reaching that point.

[Yamifoud]

That declining scheme of bitcoin isn't a wary thing to cause for a huge loss but a time given for investors to buy more.
If we are an investor, we could be happy that it turns like that and have this opportunity. With all that ups and downs, uncertainty might be pulling us down and might catch us into FOMO.

[JohnBitCo]

Bitcoin Dips Below $11,000: Analysts Forecast 30% Drop to CME Futures Gap. I think bitcoin might suffers more decreases before the end of the year and making the 20,000$ year end price not realistic.

Bitcoin may be down again temporary due to CME futures gap but we all know that bitcoin halving is going to happen next year. They hype of this event can again bring a major pump in the bitcoin prices.