Are we looking at Bitcoin down to $5K?

[Febo]

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?

In June most thought we will see new ATH in few months time. That is how it is. Bitcoin goes from FUD to hype and back in a day.

[justdimin]

Bitcoin looks to be doing better than expected. Every expects it to go down like crazy before a big upwards movement starts and everyone talks about how bitcoin should be dropping to $5k but we are still going strong, sure we had a little downwards movement and I am upset about it and hope that we will go back up soon but that doesn't mean that bitcoin is down and gone, its still doing quite well and I am pretty sure it will do even better in few weeks.

I am waiting for November already, usually those are the times people start to make their big investments, November and December, if November goes bad then it will be a bad year for us until halving time, if it happens to be good we are going to have a huge bull year in 2020 for sure. Gonna wait another 5 weeks to figure out which one it will be.

[Oasisman]

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?

In June most thought we will see new ATH in few months time. That is how it is. Bitcoin goes from FUD to hype and back in a day.

It all goes in circle, thats how the market works. FUD and Hype are additional elements to predict and speculate the future price, as it will influence the decisions of the traders and investors.
 I was even one of those who hope to see a new ATH when Bitcoin starts to rally back from $3,000 mark.

[joinfree]

That will be a huge downfall which i doubt ever happening especially with the news of bitcoin halving just around the corner. It's possible to see the levels of $7k-$8k but i doubt we would ever sink below this range to over $5k. This is the best of times to get friendly with the use of stable currencies lol.

[Wysi]

That will be a huge downfall which i doubt ever happening especially with the news of bitcoin halving just around the corner. It's possible to see the levels of $7k-$8k but i doubt we would ever sink below this range to over $5k. This is the best of times to get friendly with the use of stable currencies lol.

Yes going below $5k at this particular moment seems unreal as it might fluctuate between $7,500 and $8,500 as of now but sudden dump from the whales might lead to downfall and we could approach $5k but let's keep the negative vibes aside as you said we have stable coin to bank on in case of any debacle.

[CryptoBry]

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.

This is actually one big factor why Bitcoin may not go as low as $5000 as there are people just waiting on the sideline for the dip making this thing like a leverage or insurance for the coin. Right now, there is that good sentiment that by 2020 a bull run can happen that's why Bitcoin holders and traders are not dropping Bitcoin anytime. Of course, anything can happen with this volatile market so my prediction can be as good as anybody else's. Let's just wait for the real score to happen.

[lienfaye]

I am used to see the price turning ups and down so I wont be surprise if the value will go down to $5k. However I dont think it will happen (though anything is possible as the market is high volatile) because some of us are just waiting for an opportunity to see the price declining to affordable price.

No one knows whats ahead for the future of bitcoin but im certain that many crypto enthusiasts are waiting to buy in dip price so as long as there's a demand the value cant go lower.

[owengtam09]

I don't see any problem if bitcoin will go down again at $5k, investors can take this as their advantage, there are always possibilities that bitcoin will go down again before the end of the year, just like always happens every end of the year. LOL. Once that holidays seasons are coming bitcoin price always drop, maybe it is because a lot of bitcoin users are withdrawing or selling their coins.

[Inkdatar]

I don't see any problem if bitcoin will go down again at $5k, investors can take this as their advantage, there are always possibilities that bitcoin will go down again before the end of the year, just like always happens every end of the year. LOL. Once that holidays seasons are coming bitcoin price always drop, maybe it is because a lot of bitcoin users are withdrawing or selling their coins.

Bitcoin touch the price before to $5k but this time we cannot tell if this will hit to that price. Since these days it varies from 7900-8200$. A lot of reason these down and uptrend for bitcoin but let’s observe what’s ahead to achieve on bitcoin price this year. Well, indeed that's the usual case when the season comes people are cashing out.

[cryptoknightt]

I think now the price of bitcoin is very difficult to be able to fall back to the price of $ 5k again because I feel it will approach halving day so the price of bitcoin will not easily fall, demand will definitely increase because many will not want to miss the opportunity to buy bitcoin at prices which is currently still cheap.

[SummerBliss]

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."

Although the market is volatile and price can go down but it seems difficult to me that it will go down once again to low level of $5000 as it has managed to reach $8000 and now we will see bull run soon hitting the market.The investmemts are increasing pumping the prices and increasing the demand so be patient until that time.

[BigBos]

I don't see any problem if bitcoin will go down again at $5k, investors can take this as their advantage, there are always possibilities that bitcoin will go down again before the end of the year, just like always happens every end of the year. LOL. Once that holidays seasons are coming bitcoin price always drop, maybe it is because a lot of bitcoin users are withdrawing or selling their coins.

maybe you don't see a problem there, but it's very problematic for people who have been holding bitcoin for a long time. if the price of bitcoin touches the price of $ 5k at the moment, isn't that a bad thing? the point is I heard that halving will happen soon when the price of bitcoin goes down at halving, it will be difficult to determine the next pump. That might be a good thing for bitcoin collectors, but I don't think bitcoin prices will drop below the $ 7000 level.

[Duzter]

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?

In June most thought we will see new ATH in few months time. That is how it is. Bitcoin goes from FUD to hype and back in a day.

can't wait for that day.
To be honest I am also a little panicked seeing so many people expect a price of $ 5k. although they were very enthusiastic last June when the price of bitcoin touched its highest price and predicted that prices would rise higher, that changed suddenly when bitcoin prices touched prices below $ 10k, and now they are waiting for prices of $ 5k. Well, I'm sure prices will definitely be higher in the near future.

There is very less chance to experience $5000 in the prevailing market condition. The growth got disturbed when the price fell low to $10000. This hasn't caused a big market fluctuation as there is gain of good momentum around $8000. When the price fell low to $10000 this could've taken place, now it's time for growth.

[wxa7115]

The 7.9k barrier has been holding very well for us, I doubt we will go back down to 5k anytime soon, I even doubt we will reach 5k ever again. It looks like we have hit the rock bottom for us nowadays and we will definitely go up, I can't guarantee anything other than I have put all my money into bitcoin right now, that is as far as anyone can go for bitcoin.

$5,000 is way too deep from where we are right now, I strongly believe that (I hope Im not wrong). Around $7,000 probably is the bottom and youre right, were still doing fine at $7,900 from the last 48hrs. As you can see, a lot of hodlers and momentum trades thinks its good to accumulate more Bitcoin in this figure. So, most probably the $7,900 support level still holds tight.

It is interesting how each person sees the market differently, I do not see anything wrong with the price of bitcoin going back to 5000, it will be a great opportunity for many investors that did not took the opportunity to buy bitcoin for a price slightly above 3000 to buy it again at a reasonable price, some may argue that we are too close to the halving for that price to be reached, but those people are also forgetting that the price will not skyrocket immediately after the halving and that it will take a few months for the price to go up.

I can see investors are defending bitcoin at the 7900 dollars range but there is very little volume and when that small amount of volume goes down the price will go down with.

[skarais]

~Skip
I can see investors are defending bitcoin at the 7900 dollars range but there is very little volume and when that small amount of volume goes down the price will go down with.

Prices have dropped rapidly in the last 24 hours, but still the $5,000 target isn't right at the moment. Bitcoin will still maintain prices above $7,000 this week, in my opinion. Unless there is a crazy whale that drives prices down lower. Lets wait for a good trend going forward.

[electronicash]

~Skip
I can see investors are defending bitcoin at the 7900 dollars range but there is very little volume and when that small amount of volume goes down the price will go down with.

Prices have dropped rapidly in the last 24 hours, but still the $5,000 target isn't right at the moment. Bitcoin will still maintain prices above $7,000 this week, in my opinion. Unless there is a crazy whale that drives prices down lower. Lets wait for a good trend going forward.

US-China trade war hasn't intensified though and this no-deal Brexit is yet. it doesn't help yet to make bitcoin go up. maybe there is the need for countries to have instability, take for example Bolivia political crisis right now could be another trigger to go up though crypto is illegal there but if their election protest there are going to be resolved, btc will probably dip another to $5k. 

but its easy to say the reason is there is low volume to the price range of $8000-$8300 even when support level strong so look now, breakout just happen.

[Lmaooo]

Of course, we are on the same page on this one. The bitcoin price is currently going down and perhaps the price will fall down to $5000 or even lower. We are now in the fourth quarter of the year, it is unlikely for the Bitcoin price to recover since many people are already HODLing bitcoins waiting for the final bull run of the year and it seems there is none this year. 

[nydiacaskey01]

Surprised to see Bitcoin dropped to $7,400 today. But, I don’t think this will continue and drop further to $7,000. There are still upcoming events that will give Bitcoin a little pump and go back to $8,000.

$5,000? I don’t think so. Thats to far fetched but it may happen if there will be new issues about Bitcoin or the popular exchangers.

[BitcoinHunt3r]

Surprised to see Bitcoin dropped to $7,400 today. But, I don’t think this will continue and drop further to $7,000. There are still upcoming events that will give Bitcoin a little pump and go back to $8,000.

$5,000? I don’t think so. Thats to far fetched but it may happen if there will be new issues about Bitcoin or the popular exchangers.

A lot of people i read said that $5000 is not possible to happen, maybe people very optimistic about bitcoin price and although it dropped until $7400, might be some people panic, but not much as people who still be patient and wait for good moment to sell.

[Fredomago]

Surprised to see Bitcoin dropped to $7,400 today. But, I don’t think this will continue and drop further to $7,000. There are still upcoming events that will give Bitcoin a little pump and go back to $8,000.

$5,000? I don’t think so. Thats to far fetched but it may happen if there will be new issues about Bitcoin or the popular exchangers.

A lot of people i read said that $5000 is not possible to happen, maybe people very optimistic about bitcoin price and although it dropped until $7400, might be some people panic, but not much as people who still be patient and wait for good moment to sell.

It's need to boost those weak holders not to panic and sell everything as downfall will be much stronger to go deeper. Optimistic investors will keep being positive even with this kind of situations, it's tough seeing the market like this but we need to work in order to help lifting the price not to collapse that hard.

Every investors and traders who follows this market knew that bounce back is always a big thing from this industry, buying those cheap dumped
coins is another opportunities to grab while waiting.