Will Bitcoin cross 3K USD this year?

[FanEagle]

I don't understand from chats that much so I can't tell you what the charts are saying or what the public sentiment is or whatever. However, I can tell you that even if bitcoin goes to $3k that means it will go back up eventually, doesn't matter how further bitcoin goes down it always goes up. Remember, we were once 20 thousand dollars! and it went down as low as 3.5 thousand dollars, that is literally a ~6x difference and we still managed to go back up to $13.8k at our most recent peak didn't we?

So, the long term is still the same, buy bitcoin when you can afford to buy some and stash it aside, when the price goes up you will make more money. Its just simple truth that no matter how much bitcoin falls eventually it goes back up, that is how bitcoin has been forever.

[Vantix]

Personally I wouldn't go that far as 3000 dollars. It would be totally distress from mass adoption perspective and it will scare most of new potential investors which would lead to further price drop.

[bitgolden]

It seems to bear market. Should I hold BTC now?

I agree with you that there is a chance that bitcoin will fall again into the bear market but still unpredictable and let's see if bitcoin will truly drop at the price of 3000$ in the end of this year 2019. If I were you, I will probably buy now and I will for the next halving of bitcoin which has more potential that the price will pump. Lastly, Just look at the chart in the market and speculate if bitcoin will really drop on that price and if never you should buy now.

You just said that there is a chance of bitcoin falling back to $3000, since you have seen the chance of it falling that low again, why then do you still advise that they should buy now, which means that the investor needs to just wait a little longer then before buying and see if the price will fall further to that again, but I think this will never really happen, it would never be impossible for us to fall back to the price that we were before bitcoin made a head run to start climbing from $5k above till the present price it has now.

This correction may have confused people a little, but that is not enough to prove that we are plunging lower than now, I think that the market will start recovering now, and I will follow that advice that say we should better buy now against the halving of next year.

[Silberman]

I've seen the price recovered today, but seems to be early to say that we are out of the bear market. Strong support though at $8k and it seems we have found our new bottom for now. I thought that the market has been taking over by the bears, but the bulls are definitely back so I think that we can see the price crossing $3k again, in my opinion.

Anyone that has watched the markets for a long time knows that bull markets take a long time to materialize and that bear markets can decrease the price very abruptly and then they seem to go on forever, if what we are experimenting is in fact a new bear market then you can be sure that it is not going to be over after a few weeks, it is likely that we will see more red in the market and that many traders will get extremely discouraged by this and will leave the market for good.

[ardentvolcanoes]

I've seen the price recovered today, but seems to be early to say that we are out of the bear market. Strong support though at $8k and it seems we have found our new bottom for now. I thought that the market has been taking over by the bears, but the bulls are definitely back so I think that we can see the price crossing $3k again, in my opinion.

Anyone that has watched the markets for a long time knows that bull markets take a long time to materialize and that bear markets can decrease the price very abruptly and then they seem to go on forever, if what we are experimenting is in fact a new bear market then you can be sure that it is not going to be over after a few weeks, it is likely that we will see more red in the market and that many traders will get extremely discouraged by this and will leave the market for good.

Un-denying facts that each time the market suffered a big fall, Investors become disappointed and leave the market. This attitude is just repeatedly happened and more people are leaving after losing their investment, You need to be more patients and allow each event to take place, don't lose hope because in due time the market will bounce, prepare yourself and think positively acquiring those cheap coins just incase the market rallied down to that level.

[Pearls Before Swine]

$3,000 is not going to happen this year & will probably never be seen again.

Wouldn't be so sure about that even though you are probably correct.  Never is an awfully long timeframe and we all know how finnicky bitcoin can be with respect to demand.  We are at $8000 which isn't too far away from that price.  All it would take would be for sentiment to swirl down the toilet for bitcoin to drop $5000.  Probable?  I dont think so, but its possible.

Bitcoin is not in a bear market although the tanking to $8000 was bearish.  There's a big difference between a true bear market and a correction and I'm not sure if some of these forumites have figured that out yet.

bitcoin prices did go down quite steep due to the effects of BAKKT.

Ascribing this slide to Bakkt might not be right though I can't deny that the timing would suggest it's true.  Not that I've been following volume on it, but from what I've seen here its pretty low.  It doesn't seem like Bakkt would be affecting bitcoin this seriously.  Not a $2000 drop.

[barota]

marcket preparing for another dump ; my predection is bitcoin will fall much and price to 6500 at latest before 2020.
but i dont expect 3000 usd per btc because for reach  those levels from current price 8100 marcket require crash by 250 percent or more and its hard for sure
the correct prediction is that in the middle

[Inkdatar]

Their is uncertainty about the price of bitcoin to cross $3k this year and current price ranging $8k. Even though many prediction comes up let us observe the market this year. Good to hold btc at this time and wait for the bull run, who knows bitcoin possibly may increase the following year. As to note, bitcoin price is really unpredictable and hard to judge at what price it will goes. For the mean time in this market condition I am also holding my btc.

[Silberman]

Anyone that has watched the markets for a long time knows that bull markets take a long time to materialize and that bear markets can decrease the price very abruptly and then they seem to go on forever, if what we are experimenting is in fact a new bear market then you can be sure that it is not going to be over after a few weeks, it is likely that we will see more red in the market and that many traders will get extremely discouraged by this and will leave the market for good.

Un-denying facts that each time the market suffered a big fall, Investors become disappointed and leave the market. This attitude is just repeatedly happened and more people are leaving after losing their investment, You need to be more patients and allow each event to take place, don't lose hope because in due time the market will bounce, prepare yourself and think positively acquiring those cheap coins just incase the market rallied down to that level.

Do not worry I have no intention of ever leaving this market since there is no other market that can give me so many profits in such a short amount of time, however I still stand by what I said, when the market crashed at the end of 2017 and it went from 20000 to a price close to 3000 you can be sure that at that point many people gave up, accepted their losses and moved on with their lives, it is unfortunate because if they have held they could have recovered most of the money they lost when bitcoin reached a price close to 14000.

[inanilujimi]

Never again will BTC touch the price of $ 3000, this price is too low comrades with the current market capacity.
rest assured no one really left this market.

[michellee]

Never again will BTC touch the price of $ 3000, this price is too low comrades with the current market capacity.
rest assured no one really left this market.

That will make many people disappointed, especially the miner. We still waiting for what will happen in the market, and maybe after this day, we will see bitcoin can rise to another high price. But the chance to go lower price will still there although we don't want to see it. But if I see on the bitcoin price, the situations at this moment will be at a sideway because the price does not move to the higher price or a lower price.

[Darooghe]

I don't think so, but if bitcoin goes to $3,000, that would still make bitcoin’s price massively valuable. Remember, bitcoin was at $600 for most of 2016. That means that it spent years after the first bubble at 2x below $1,200.

From the perspective of 2015 and 2016, $3000 bitcoin is just a massive increase in price. This is actually a critical point which I think a lot of people, permabulls and permabears alike, don’t understand. Bitcoin can go to the lower $3,000 and still have demonstrated a massive long term price increase. It just depends on your timeframe and comparison.  if you think bitcoin is undervalued at $3,000, it’s not that bitcoin is actually undervalued, you’ve just been spoiled by $20,000 prices. after all, it is impossible for Bitcoin not to gain value over time by this mechanism as long as it stays secure and a fixed supply asset.

[sana54210]

Considering the miners are not capable of mining 1 bitcoin for $3k and it costs a lot more and then we will have a halving that would make it even harder, I doubt bitcoin will ever be $3k as well. I mean think about it, there needs to be thousands and thousands of asic miners that needs to be closed down in order to make the rest of the machines work less and still make profit so they can sell for $3k, that is not going to happen anytime soon.

Yeah, we had a similar period where mining was about $5k-$6k cost at around $20k bitcoin price so we said it won't go under but it did and miners started to stop their machines because they couldn't profit so the ones that kept it open started to profit thanks to lower difficulty but that was a HUGE bear run, this is not like that.

[WatchMaker]

No way, I don't think the bitcoin price will fall anywhere near $3k but rather $6k to $7k.
You know during this time of the year Q4 - there are certain market bull runs because people are investing bitcoin for easy profits.

[Silberman]

snip

if you think bitcoin is undervalued at $3,000, it’s not that bitcoin is actually undervalued, you’ve just been spoiled by $20,000 prices.

snip

This is something I have been thinking for a long time, those that joined bitcoin during 2017 are spoiled, they do not really know what it is to wait for years for the market to move at all, they just got in the market and the biggest movement in bitcoin history happened, they profited massively and now they want that to happen every single year and that will never be possible, that is why I believe it will take us a long time to challenge the all time high since those movements are not that common.

[gandame]

For that price sir maybe its hard to up now for $3000 this year because its been hard and slow for the price recover.  Maybe wait and have patience for the right time and year for that price. It takes a long time for bitcoin recovery.

[shield132]

I don't think so, but if bitcoin goes to $3,000, that would still make bitcoin’s price massively valuable. Remember, bitcoin was at $600 for most of 2016. That means that it spent years after the first bubble at 2x below $1,200.

From the perspective of 2015 and 2016, $3000 bitcoin is just a massive increase in price. This is actually a critical point which I think a lot of people, permabulls and permabears alike, don’t understand. Bitcoin can go to the lower $3,000 and still have demonstrated a massive long term price increase. It just depends on your timeframe and comparison.  if you think bitcoin is undervalued at $3,000, it’s not that bitcoin is actually undervalued, you’ve just been spoiled by $20,000 prices. after all, it is impossible for Bitcoin not to gain value over time by this mechanism as long as it stays secure and a fixed supply asset.

I 100% agree with you, that's what I'm saying too always.If we compare 2016's price to current one, there is huge increase in price. If 600$ was enough in 3016 where still even 1k was a dream, current price is far more than enough cause demand on bitcoin hasn't increased that much. But at the same time if price fall on 3k, it will be a huge shock and will be hard to overcome this. Why? Because of expectations from people, 2016's thoughts and current thoughts are far different among people. Also don't forget mining, upcoming halving, fall on 3k will ruin everything.

[jostorres]

If we compare 2016's price to current one, there is huge increase in price. If 600$ was enough in 3016 where still even 1k was a dream, current price is far more than enough cause demand on bitcoin hasn't increased that much. But at the same time if price fall on 3k, it will be a huge shock and will be hard to overcome this. Why? Because of expectations from people, 2016's thoughts and current thoughts are far different among people. Also don't forget mining, upcoming halving, fall on 3k will ruin everything.

Far back when bitcoin was first released, I am sure that the early investors never even predicted that the value of bitcoin would have even reached $8000, look at what bitcoin virtually grew from within the space of just 10 years, which system that even the government create that can ever have such drastic performance and acceptance without them even enforcing it on people.

So I think that bitcoin has done so well and I believe that the future of it will still be great than its present. This year, I believe that bitcoin will actually cross over $13000 again and may increase to as much as $15000. Last quarter of the year is always good and I think that in the history of bitcoin, every year ending is always better than the previous year, so I believe that this year will end well with very good value.

[iamsange]

snip

if you think bitcoin is undervalued at $3,000, it’s not that bitcoin is actually undervalued, you’ve just been spoiled by $20,000 prices.

snip

This is something I have been thinking for a long time, those that joined bitcoin during 2017 are spoiled, they do not really know what it is to wait for years for the market to move at all, they just got in the market and the biggest movement in bitcoin history happened, they profited massively and now they want that to happen every single year and that will never be possible, that is why I believe it will take us a long time to challenge the all time high since those movements are not that common.

People who only think about instant profit will come after big pump at 2017. Because they see bitcoin price increased very fast and high. That is why people think next halving same thing will happen. Actually i hope for that too.

[d3nz]

snip

if you think bitcoin is undervalued at $3,000, it’s not that bitcoin is actually undervalued, you’ve just been spoiled by $20,000 prices.

snip

This is something I have been thinking for a long time, those that joined bitcoin during 2017 are spoiled, they do not really know what it is to wait for years for the market to move at all, they just got in the market and the biggest movement in bitcoin history happened, they profited massively and now they want that to happen every single year and that will never be possible, that is why I believe it will take us a long time to challenge the all time high since those movements are not that common.

People who only think about instant profit will come after big pump at 2017. Because they see bitcoin price increased very fast and high. That is why people think next halving same thing will happen. Actually i hope for that too.

And that's the main problem for some people greediness. I agree that we've been spoil after Bitcoin reaching its ATH and some or "ALL OF US" are waiting to reach it again and definitely it could happen after the halving by next year.

The value of bitcoin will not fall below $7k and there will be a major support to hold its price.