Are we looking at Bitcoin down to $5K?

[radjie]

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.

many people take advantage of the declining market situation, they do not want to miss taking the opportunity when the market price drops again, but I think this time the decline is only temporary and will not be below the price of $ 7000, market conditions will bounce back and there will be a further pump after being able to touch the price of $ 7,000.

[Hippocrypto]

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.

many people take advantage of the declining market situation, they do not want to miss taking the opportunity when the market price drops again, but I think this time the decline is only temporary and will not be below the price of $ 7000, market conditions will bounce back and there will be a further pump after being able to touch the price of $ 7,000.

For the word advantage, this has been their chances right now while btc went down quickly and after that sudden drop; they're just preparing for recovery period. Don't expect too much on this trend here, we really don't know what's next to happen. That temporary downturn might not be stable for now, it might drop more if panic sellers will increase but not on that point of $5k.

[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.

many people take advantage of the declining market situation, they do not want to miss taking the opportunity when the market price drops again, but I think this time the decline is only temporary and will not be below the price of $ 7000, market conditions will bounce back and there will be a further pump after being able to touch the price of $ 7,000.

For the word advantage, this has been their chances right now while btc went down quickly and after that sudden drop; they're just preparing for recovery period. Don't expect too much on this trend here, we really don't know what's next to happen. That temporary downturn might not be stable for now, it might drop more if panic sellers will increase but not on that point of $5k.

Maybe that is why some people keep optimistic to spread positive awareness to people. Freedomago in above said that weak holders need to get postiive too so they are not panic and make price get worse than now.

[Darooghe]

It is really possible that the bitcoin dump around $3000-5000 and it is possibly because of the bear market that is happening right now. There is some assumptions that the bitcoin and the Cryptocurrency will continue to fall down before 2020. if trust or interest would withdraw from bitcoin then it can happen quickly as fast as in few weeks or couple of days.

The market now is bad, and the range of the price is $7000-9000$. I just hope that the price of bitcoin will continue to grow like the price of it in 2016-2017 that is very high. Just continue believing on bitcoin and do not lose patience. A new bull run is coming in 2 years and do not take after all the sources of information that only have the role of misinformation. Their purpose is to panic in people to sell their investments and they can buy at a better price.

[SquallLeonhart]

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.

When it comes to price speculation, I think that bitcoin is always working with opposite and that is what I have actually studied about bitcoin, at the point where you find so many fud in the forum or over the internet, that is when bitcoin usually head for the spike, but when there is good news and everyone seems to be predicting the price of bitcoin to favor us at a point, that is when bitcoin actually heads for a decline in price.

I am not really worried about some news again when I see them, the only thing that I do is to way the speculations and see where it falls more, when there is speculation favoring bitcoin, I just sell, but when there is speculation going against bitcoin, that is when I do buy and I must tell you that this method has really helped me for a while now.

[uray]

many people take advantage of the declining market situation, they do not want to miss taking the opportunity when the market price drops again, but I think this time the decline is only temporary and will not be below the price of $ 7000, market conditions will bounce back and there will be a further pump after being able to touch the price of $ 7,000.

Whenever there is a correction in the market people will take advantage of it and invest in huge numbers, the reason you feel like the correction is temporary is because there are investors flooding the market whenever the price goes down and hence you will see a small recovery but if the market slows down we might see another correction, you cannot predict how the market will move exactly in the next few days.

[STT]

A lot of people i read said that $5000 is not possible to happen,

Its unlikely because there is such a large volume of trades in the 6000 area.   The trend is likely to change rather then continue without great challenge, even today we see a sharp rise.   That effect applied over the longer term means we are more likely to a break of any trend downwards just as the rise over the spring summer did break and profit taking occurred as is normal in a market.


Heres a good chart I saw posted by nictrades on twitter - https://twitter.com/NicTrades/status/1187832596996198400



Trading above the 200 day and confirming above there on daily bars is going to confirm better any break upwards.  For the moment I think its just moving within the space between support and resistance.   200 day average is some indicator we are not yet fully negative as it rises and yet below we should have caution while the market is checking in a negative direction.
   I'll be more interested early Monday for how we proceed and operate near 200 DMA.

[wxa7115]

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.

The market has seen an explosive recovery during the last days but it is up in the air what this could possibly mean, after reaching a high of almost 10400 the price then has been going down and now bitcoin is trading at 9100, I have great doubts this is a sign of a long term recovery this is just manipulation of the highest level and the only ones that can hope to profit from this are day traders which watch the price obsessively.

For the rest of those not holding bitcoin it is better to wait and see if they can see an indication this is something more than manipulation or if this is a change of the bearish trend we have seen during the last weeks.

[carter34]

For the rest of those not holding bitcoin it is better to wait and see if they can see an indication this is something more than manipulation or if this is a change of the bearish trend we have seen during the last weeks.

The price at this moment is at $9,024. The bearish of last week has become bull this weekend. This is a wooping close to $2,000 difference buying in last week. Maybe we are just seeing the beginning of volatility.

[ajqjjj]

For the rest of those not holding bitcoin it is better to wait and see if they can see an indication this is something more than manipulation or if this is a change of the bearish trend we have seen during the last weeks.

The price at this moment is at $9,024. The bearish of last week has become bull this weekend. This is a wooping close to $2,000 difference buying in last week. Maybe we are just seeing the beginning of volatility.

Bitcoin is a forever volatile cryptocurrency so it raise at anytime and automatically it will get back to previous results also so active traders are make more in Bitcoin. Some investors are concentrate the long term investment also so gradually every year it going to on further years. May be sometime big crash will occur and automatically it will stable so many peoples are like the volatile currency.