Are we looking at Bitcoin down to $5K?

[liuqi]

No I will never expect such value for the bitcoin.

When there is bitcoin goes to 10k USD or even more it all be helpful for the investors and holdersczn make some decent money with it. But there is very less opportunity only in coming days

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[romero121]

When the price of bitcoin can reach $14000 all of the sudden from $5000 in a much shorter time period, there is also possibility for bitcoin to fall to $5000 in no time. As the price fall below $8000 there is more predictions of bitcoin reaching low. To the expectation there happened upward price move. This has made the price touch $8600.

There are people who are looking for $5000, and this is an expectation based on the upcoming halving which is scheduled for the year 2020. During previous halving the price fell and once again got pumped close to the days of halving.

[ScamViruS]

Bitcoin for $5k  and I really don't care. If I get BTC at $5k I can buy more BTC and increase my Holdings . Because I believe in BTC that one day BTC will be use all over the world and That time bitcoin price will go .....? And everything is possible in crypto. If BTC go down under $3k  I wouldn't be surprised.

[Youghoor]

The entire Bitcoin market ecosystem is full of huge possibilities and it is very likely that Bitcoin might drop to $5k but there is also a possibility that it might also hit $10k before October comes to an end.  We just have to watch the market and invest strategically.

[serjent05]

The entire Bitcoin market ecosystem is full of huge possibilities and it is very likely that Bitcoin might drop to $5k but there is also a possibility that it might also hit $10k before October comes to an end.  We just have to watch the market and invest strategically.

Indeed but if we look at fundamentals, it is quite impossible for Bitcoin to go back to $5k this month.  the set back caused by the rejection of ETF is not enough to pull Bitcoin price to that level unless something big negative news happen in the market like Satoshi being discovered and arrested .  Also, I read that the least possible price would be around $6k according to chart pattern and that was  3 or 4 days ago, but the chart pattern changes since Bitcoin break the $8500 resistance the other day (it is already Oct. 12 here).

[Kemarit]

Well there are some "experts" saying that Bitcoin could go down to $6000 or shoot up to $10000. Which means that anything can happen.  . Personally though, I just grow tired of this predictions that I would just rather hold my Bitcoin and see how the market will perform in the long run. People are just putting too much pressures on themselves if they keep on looking at the charts and says this and that, LOL.

[YA2018]

Here everyone thinks that he will fall, on the contrary, I think this is a ploy. My forecast is he will go beyond 9000$

[hahay]

That is very possible because in this situation I also believe prices will fall lower, because so far the decline is stronger than the increase so it is not surprising when the recovery does not last for at least a few days. But if the situation can turn positive maybe 7k is the lowest value but this condition will not allow it and the market will crash badly.

[Astvile]

At this point anything can happen, bitcoins price can fall even beyond $5k if the resistance can't handle it. Really bitcoin is unpredictable so we can expect even $3k is really possible at this point and going to $15k again is very possible you know how volatile bitcoin is right.

[micalith]

We didn't broke below 7500 and instead, we broke out 8500$ with a high volume. I think we will be here for more, this period seems like an accumulation period. So, this is probably not going to 5000$  currently. On the other hand, with fundamental analysis, we will have another important halving in the near future. This will create a buying power and therefore we won't be going down to 5000$.

[illyiller]

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?

It just goes to show you how market sentiment goes. Rise $1,500 and everyone thinks we're going to the moon. Fall $2,000 and all of sudden we're headed to the earth's core. Chances are the reality won't be so extreme. I don't think we'll make it to $5K. I'm betting that any spike down into the $6,000s gets bought up pretty quickly.

[wheelz1200]

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."

It's basically in the same position as it's always been.  Wild swings up and down, what you need to look at is the overall trend and if we are on an upswing which I believe we are.  We should have never spiked to 12k so quick this year but it did so this is the correction.  Can it touch 5, yup it very well can and it would still be higher than the beginning of the year

[exstasie]

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/

My thoughts on this $5K target everyone has been throwing around:

The bears need to get through some major levels first.

There is a monthly support from June which hasn't been tested yet. On Coinbase, the level is $7,427. There is also the 61.8% retracement of the uptrend in the $7,200s. That's the first area to watch.

After that, we have the apex of last year's triangle around $6,500 and the 70.5% retracement level at $6,300. Then in the $5,400s we have weekly pivots from April and the 78.6% retracement level.

If the market busts through all these (and that's a big "if") then you'll get your $5K.

There's no point predicting whether we'll get to $5K. It's more useful to watch for bullish reactions at major support levels on the way there. If lower lows are on the way, I believe one of the above support levels will serve as the final bottom.

[veleten]

no , 5k levels are if not impossible , are highly unlikely
despite what some of the analysts were saying , there was no further crash after the 10.500 to 8.000$ price drop
the level is stable and it is not showing any signs of dropping to 7k ish , not even speaking about 5-6k here
while we certainly won't see the promised ATH this year , going from 3k in May to 8k now is good
don't get me wrong , nothing bad would happen if it dropped to 5k or lower , would mean cheaper coins to buy
just as of now I can't see any signs of a coming crash

[STT]

Charts will give better indications then news, how an article is written can change what might start off neutral into being bullish or bearish.    Also its hard to tell if people have already reacted to what you perceive as new to you, quite alot of the news I've noticed is written after not before the significant change in the market.    This is quite a common mistake but I think its closer to the truth to say news is historical more then predictive and journalists arent trying to make the news so I believe they would agree they record what happened.
  The exception to this idea is where a trend is repeating, if we have an iterative effect in play then the news is describing something ongoing.   If we had an article to describe weakness in FIAT then I'm interested as its not a one off by far.



The chart today was to meet old volume, most easily or recently observed on the price rise in the spring of this year but possibly also relevant previous years.   Of course we are under 200 day average but it did attempt to break up today, so 5k is still possible.   I would say 5k is going to be more of an over reaction in price but people might feel its forever at the time, if it happens

[Reid]

Then who are those experts?  

5k USD is way too low for me. I dont think it will go that far. 6k USD is what I believe is the lowest it could go.
But, given the resistance that we are seeing now it may not happen too. Although if it does then I am all the way to a buy mode without any doubts or regrets.
That is way too low and will have sure profit even in a short time.

[Republikcoin.com]

Then who are those experts?  

5k USD is way too low for me. I dont think it will go that far. 6k USD is what I believe is the lowest it could go.
But, given the resistance that we are seeing now it may not happen too. Although if it does then I am all the way to a buy mode without any doubts or regrets.
That is way too low and will have sure profit even in a short time.

preparing ourselves at a price of $ 5k is a pretty good thing. however, I also think that the price of bitcoin will not reach that level. until now the price of bitcoin is still at the level of $ 8k, and there is a big possibility to increase due to several developments.

Even though there is quite a lot of resistance from outside parties, such as ETF and other FUDs, I am pretty sure that the price of bitcoin can exceed the $ 9k level this year. if it decreases to reach the level of $ 5k or $ 6k, I think that it is an opportunity to have bitcoin at a cheap price.

[gandame]

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.

I wait that price also so i think positive that bitcoin goes down at $5k and i will buy also bitcoin. And i will keep anf holding it for along investment. So nothing is impossible be positive and do what we thought so that we can achieve our dream by holding bitcoin.

[dragonvslinux]

I don't see $5k being out of the question, it was around this price that initiated longer term investors to come into the market last year.
It would no doubt be a level we see investors come back to the market, if $6k level doesn't hold.

Here's an example of how the $5k area could occur, to provide more of a realistic (as well as optimistic) perspective:

Source: Trading View, September 17th 2019

[Kyraishi]

Doubt there's anyway we see the prices plummetting to the 5,000 range this year, things are still fairly stable and they haven't crashed or blown up in the recent year.

When it goes down to 6k, it'll hold there and it'll only be some time before bigger investors come into play and take advantage of the lower price.

I think the only way we see this price happening is if a series of whales dump their coins.