Are we looking at Bitcoin down to $5K?

[cryptomarketyourself]

Two weeks ago everything seemed like we were on a bullish trend towards a 12K mark. Now we're all fearing a 5K resistance level. Thoughts?

https://cryptotradernews.com/crypto-trader-pro/will-bitcoin-fall-to-5k-by-end-of-2019/


^^^ good insights on why btc could go up and down.

"Experts believe that Bitcoin’s performance will improve as the US-China trade war intensifies or a no-deal Brexit comes closer."

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[timcook]

My favorite takeaway: "Experts believe that institutional investors were at play behind the recent price drop in Bitcoin. Moreover, the scenario may not improve any time soon. Sell-off may intensify and Bitcoin may plunge to $5,000 before Christmas."

[mindrust]

Anything is possible but there are far too many people waiting for cheap bitcoins. And I don't see it going that low while there are that many people waiting to buy those coins.  Whenever btc makes a nosedive, people are going to get in line and fill those order books.

[BitcoinGirl.Club]

LOL
I do not care about the price. Ups and downs whatever it is - if the move is very significant then you can always take leverage from it. If the price is down too much then buy! Do the opposite when it's up.

So let it be at $5k LOL

By the way, in a serious note : I think this time is over. We are looking at five figure again.

[DoublerHunter]

^^^ good insights on why btc could go up and down.

"Experts believe that Bitcoin’s performance will improve as the US-China trade war intensifies or a no-deal Brexit comes closer."

^ There are too many factors that can affect the Bitcoin price and the reason for struggling to pump up and now it remains on $8k plus dollar range. Some are believing in playing whales and some are just because of the effect of after launching BAKKT. The fact is an unknown reason why Bitcoin goes up and down. But I am sure that it will not go down it the price of $8k or $7k range. Nevertheless, remember that usually when the end quarter of the year will end, the price goes up and I also believe in the next halving will come. So, it is impossible to go down beyond 5k dollars.

[target]

Although the article said that the price of Bitcoin could decrease to $ 5k by the end of this year, But I am pessimistic that it will happen. I still confident that the price of Bitcoin can reach $15k at the end of this year. The Bearish trend is starting to end slowly but not completely gone, the little Bearish trend still exists today.

I checked the article, they did give a statement but didn't backed it up with the chart analysis. This is sort of a clickbait executed poorly.  The price could go dip of course there is the possibility since this is the time where small time and big traders are re-accumulating what was dumped two years ago. If the support at $7K will break, the price to dip at $5k or even below it is possible. I doubt it will happen soon, you will have to wait for weeks to see signs.

[harizen]

Now we're all fearing a 5K resistance level. Thoughts?

Who's this "all"? Don't include me to that as I never think of that and that drop to $8,000 isn't really alarming at all.

Although anything can happen, even going back to $1 at 0.00000001%, there are lots of price support levels that need to be break before concluding that we might see a $5,000 resistance level soon. Aside from that, if the price goes back to $5,000 level, then take that as an opportunity to acquire more to your precious stash.

This thread is more appropriate here to discuss: https://bitcointalk.org/index.php?board=57.0

P.S Is that your article? I can't read the whole article content as it needs to be a pro account to view it. I checked the pro account and it's a paid subscription. Gathering users there?

[rdluffy]

Although the article said that the price of Bitcoin could decrease to $ 5k by the end of this year, But I am pessimistic that it will happen. I still confident that the price of Bitcoin can reach $15k at the end of this year. The Bearish trend is starting to end slowly but not completely gone, the little Bearish trend still exists today.

I checked the article, they did give a statement but didn't backed it up with the chart analysis. This is sort of a clickbait executed poorly.  The price could go dip of course there is the possibility since this is the time where small time and big traders are re-accumulating what was dumped two years ago. If the support at $7K will break, the price to dip at $5k or even below it is possible. I doubt it will happen soon, you will have to wait for weeks to see signs.

Yes I agree, websites and analysts, "experts", have to publish articles, and sometimes (a lot) they have to create something that is not real. I don't see strong evidences that we can reach 5k level this year
Of course we can reach 1k, 20k, 50k...but they don't have any real conclusion and I disagree with this price, I believe in a sideway market, where we'll end the year at 8 to 10k level, we are in this range for some time

[cryptomarketyourself]

Although the article said that the price of Bitcoin could decrease to $ 5k by the end of this year, But I am pessimistic that it will happen. I still confident that the price of Bitcoin can reach $15k at the end of this year. The Bearish trend is starting to end slowly but not completely gone, the little Bearish trend still exists today.

If we look at 2017, september was rough and christmas was heaven. Hopefully you're right!

[cryptomarketyourself]

Now we're all fearing a 5K resistance level. Thoughts?

Who's this "all"? Don't include me to that as I never think of that and that drop to $8,000 isn't really alarming at all.

Although anything can happen, even going back to $1 at 0.00000001%, there are lots of price support levels that need to be break before concluding that we might see a $5,000 resistance level soon. Aside from that, if the price goes back to $5,000 level, then take that as an opportunity to acquire more to your precious stash.

This thread is more appropriate here to discuss: https://bitcointalk.org/index.php?board=57.0

P.S Is that your article? I can't read the whole article content as it needs to be a pro account to view it. I checked the pro account and it's a paid subscription. Gathering users there?

Eh, no. Wtf it's a five dollar membership why would I be in here promoting that thing how much would I be making?? lol


A $3000 drop from 8K to 5K is very much possible. We've seen worse things happen before.

[kryptqnick]

I clicked on the article, but then the page told me "Hold on! This is for Crypto Trader Pros Only!", which irritated me. Are those who commented on the article actually subscribed/registered there, or do the warning and limitation randomly strike some visitors but not all of them? Or did you actually register only to read it?
Anyway, I hope that we are not heading towards $5k this time. Yes, Bitcoin is down and no, it does not seem to be moving back to $10k. However, maybe the current price is just a stabilization point where Bitcoin will stay for a while. The current price is not great, not terrible IMO. If it stays this way for a while, I am okay with that. But seeing my savings go down very significantly once again? I'd rather not.

[ChrisPop]

On the macro timeframes we're still generally bullish. My opinion is that we won't go below the $7000 mark this year, simply because I'm expecting a significant bounce from the 21 EMA and 10 SMA on the monthly timeframe while there are only 2 months left of this year.. On the weekly we're consolidating and on the daily we're looking kind drippy. I'd expect another leg down before the reversal back to bullish and probably to new all-time-heights.

[coin-investor]

Although the article said that the price of Bitcoin could decrease to $ 5k by the end of this year, But I am pessimistic that it will happen. I still confident that the price of Bitcoin can reach $15k at the end of this year. The Bearish trend is starting to end slowly but not completely gone, the little Bearish trend still exists today.

If we look at 2017, september was rough and christmas was heaven. Hopefully you're right!

But unfortunately each year presents a different scenario, honestly, I have no idea what kind of scenario that we are going to see, is it the 2017 or the 2018 or we will have a new one this 2019, such exciting scenario each one of us has their own version of what will happen before the end year, and right now we don't have a hint or even a confirmation, everything is hanging.

[yoseph]

Although the article said that the price of Bitcoin could decrease to $ 5k by the end of this year, But I am pessimistic that it will happen. I still confident that the price of Bitcoin can reach $15k at the end of this year. The Bearish trend is starting to end slowly but not completely gone, the little Bearish trend still exists today.

If we look at 2017, september was rough and christmas was heaven. Hopefully you're right!

I will say that Bitcoin has been very steady and at the moment hovering around the $8000 range for a while since it dropped and I really don't see any reason why it's bound to even go less than the $5000 . I am believing that  $8K will be the lowest price from now till the year end.

[20kevin20]

Well, the price gets drastically affected by the events worldwide so any outcome means a price change. That's how trading and speculation works, but I don't really follow the speculations anymore. There are too many out there, and whoever gets the right prediction in the end is followed by many... until they mess up. I'd rather follow my own intuition.

[Willitivity]

So far, the market is still very much fragile, it can move to either direction. For now, with Bitcoin holding above the $8,000 region is pretty solid. There are also a couple of support on the way down, so even if it starts going down it won't easily get to $5k. It has to be a gradual process. Am bullish on Bitcoin for end of the year.

[crypthough]

Fundamentally, I would say I'm bullish at the moment, but when I argue with the TA, we are still under the 200 EMA and this is clearly bearish and as longer we stay under it as higher is the chance to drop much deeper. But the market is still manipulated and you can never know what will happen. I'm as a BTC bull would be happy if I get the chance to buy BTC again at 5k, consequently I see long term much more value than 5k.

[finaleshot2016]

I hope bitcoin will not reach less than 8k$, the year 2019 is coming to an end and still, bitcoin has no sign of getting up. The market is still fragile and unstable, long term investment is sure for now.

I thought bitcoin in 2019 is similar to 2017's bull run.

[minersday]

From my personal observations,  the price of Bitcoin is not gonna drop down to $5k anymore. The lowest price it is likely to drop down to is $7k.  The rise and fall of Bitcoin is not anything new to a lot of people in the crypto space. The decentralized nature of the entire Bitcoin blockchain network is the major contribute to its price fluctuations.

[serjent05]

Two weeks ago everything seemed like we were on a bullish trend towards a 12K mark. Now we're all fearing a 5K resistance level. Thoughts?

https://cryptotradernews.com/crypto-trader-pro/will-bitcoin-fall-to-5k-by-end-of-2019/


^^^ good insights on why btc could go up and down.

"Experts believe that Bitcoin’s performance will improve as the US-China trade war intensifies or a no-deal Brexit comes closer."

$5000 BTC is way to low, I do not think that Bitcoin will fall to that category yet.  We have a good resistance from $8k and $7k so Bitcoin falling to $5k even $6k has a small chance to happen.  some of the analyst even stated that there is a good chance that Bitcoin may reach $9k this month.  As far as I can see, $7k would be the lowest Bitcoin can fall this month.