Bitcoin Weekly Update: $7k Lost, Bulls Vanished. Will The Gold Fractal Play Out?

[cryptoadvocate]

Latest Bitcoin market update is now out. I talk about the significance of the level Bitcoin just lost, my strategy from here and take another look at the BTC-Gold Fractal and what that might look like if it plays out.

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-11-24-2019

[acdc]

At this point, the price of Bitcoin has dropped below 7k and is still on a downward trend. This is a sharp decline and we still haven't seen the final bottom, most likely this discount will last until the end of 2019.
Taking this opportunity, people who dislike Bitcoin and sharks are constantly releasing adverse news for Bitcoin in order to lower the price of Bitcoin to the maximum extent possible and force investors to sell Bitcoin. But I still believe in Bitcoin and its recovery so I bought some Bitcoin when it went down to 7k, if Bitcoin went down to 6k5 I would buy some more.

[avikz]

Latest Bitcoin market update is now out. I talk about the significance of the level Bitcoin just lost, my strategy from here and take another look at the BTC-Gold Fractal and what that might look like if it plays out.

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-11-24-2019

It's a nice opportunity given to HODLers to average out their buying price which we may not see again in future! With Black Friday around the corner and Christmas approaching next month, it's no wonder that the market is seeing some heavy dumping! And the result is sharp decline.

However, I personally see no reason to worry because at the current price level of $6700, bitcoin looks really attractive!

[adaseb]

Latest Bitcoin market update is now out. I talk about the significance of the level Bitcoin just lost, my strategy from here and take another look at the BTC-Gold Fractal and what that might look like if it plays out.

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-11-24-2019

It's a nice opportunity given to HODLers to average out their buying price which we may not see again in future! With Black Friday around the corner and Christmas approaching next month, it's no wonder that the market is seeing some heavy dumping! And the result is sharp decline.

However, I personally see no reason to worry because at the current price level of $6700, bitcoin looks really attractive!

I don't think this sell-off has anything to do with people selling their cryptos to buy Presents for Christmas or Black Friday. Most likely its the typical over-leveraged longs being liquidated and causing these huge price declines. I also think we went up from the $3200 area to $13800 rather very quickly, it created FOMO and people are stuck in their $10K long positons and they are probably being liquidated everytime we hit a new low.

Also keep in mind that generally this time of the year was very bullish for Bitcoin historically. Besides 2018 and 2019, it was generally a very bullish month, hence the theory of people selling Crypto to buy presents just isn't true in this extend.

The only time in my opinion when Crypto selling could of had an effect was maybe the April 2018 time because people needed to sell alot of Crypto to pay huge capital tax gains from 2017 trading. This is probably why we had a relief rally in April 2018 shortly after tax date was due.

[Wexnident]

Well, at the moment, it seems like BTC has regained its lost ground, albeit temporarily. Plus, it seems like searches for BTC after its drop to 6k spiked. We can assume from this that a lot of people have been actually waiting for this moment to come, for BTC to drop to 6k before they start buying, hoarding and hodling once again.

[watergold]

Bitcoin has passed $ 7,000. I believe there will be an improvement in the next few days, but what strategy is used today is that we look at market movements and then analyze the techniques on the charts and what happens well to buy bitcoin at this time is still good because there is still hope for the best suggestions good from me.

[zeze18]

Bitcoin has passed $ 7,000. I believe there will be an improvement in the next few days, but what strategy is used today is that we look at market movements and then analyze the techniques on the charts and what happens well to buy bitcoin at this time is still good because there is still hope for the best suggestions good from me.

I think it won't have an improvement in few days, i think bitcoin is not reach it's dip yet this year. But most of people predictions bitcoin will recover next year and it will create a new price high because of the halving effect. I think the whales are creating this condition make bitcoin look like low price but in fact they want to buy bitcoin in low price so they can get much profits

[TrevorS]

I am impressed by the opinion that I will give below:

Frankly, I assumed that the price would remain at the level of 8200-8400 for some time and only then the drain and panic sale would begin. Since sales were not enough, based on the analysis of large orders and the general pessimistic mood of the masses. But it seems like a squeeze down caught the main stops, which turned out to be a lot, then panic , and since the price was at the psychological level of 7900-8000 and everyone was on the button, ready to quickly start selling, the collapse turned out to be swift. It is known that no one will buy off panic from large ones, it is too expensive and, accordingly, the price has dropped to the closing zone of the main shorts at 6800-7200.

[CarnagexD]

Latest Bitcoin market update is now out. I talk about the significance of the level Bitcoin just lost, my strategy from here and take another look at the BTC-Gold Fractal and what that might look like if it plays out.

https://www.cryptoadvocate.net/post/bitcoin-weekly-update-11-24-2019

It's a nice opportunity given to HODLers to average out their buying price which we may not see again in future! With Black Friday around the corner and Christmas approaching next month, it's no wonder that the market is seeing some heavy dumping! And the result is sharp decline.

Big factor to consider with these digital investments is the holiday season especially on december since christmas is approaching. Deep dive is heavily anticipated with the symptoms I see right now. I checked its price, gladly it comes back +$400 than its price early in the morning. I don't mind this at the moment, It is bitcoin, top rank of the market, why would people be anxious about it.

However, I personally see no reason to worry because at the current price level of $6700, bitcoin looks really attractive!

Me too, Only if I could just have some spare money for this I'll probably put it in, with the long time bitcoin's price moves on a short price range and sudden decline is an opportunity at front to grab.  Price is really attractive at the moment and everything could happen one month before this year ends.

[cryptoadvocate]

Think we run to 7600, maybe 7800 then back down

[btc_angela]

Think we run to 7600, maybe 7800 then back down

Thanks, I think we have defended $7k, although there are some slipped in the last 2 days, but the price seems to go back to $7k-$7300 at least. So that's a good sign that people are still investing and the panic that happen is a great opportunity for most of us to buy at this dip. I'm expecting the price to at least breach $7500 in the coming days.

[figmentofmyass]

Also keep in mind that generally this time of the year was very bullish for Bitcoin historically. Besides 2018 and 2019, it was generally a very bullish month, hence the theory of people selling Crypto to buy presents just isn't true in this extend.

The only time in my opinion when Crypto selling could of had an effect was maybe the April 2018 time because people needed to sell alot of Crypto to pay huge capital tax gains from 2017 trading. This is probably why we had a relief rally in April 2018 shortly after tax date was due.

that's not how taxes work. anyone who has significant gains throughout the year but waits until the following april to pay taxes will face big penalties. there are 4 tax payment deadlines throughout the year. april 15th is just one of them. https://www.irs.gov/faqs/estimated-tax

i don't believe in any of these "bitcoin always rises in x month and falls in y month" theories. let's see how that data looks in 100 years.

[bassbity]

Think we run to 7600, maybe 7800 then back down

Thanks, I think we have defended $7k, although there are some slipped in the last 2 days, but the price seems to go back to $7k-$7300 at least. So that's a good sign that people are still investing and the panic that happen is a great opportunity for most of us to buy at this dip. I'm expecting the price to at least breach $7500 in the coming days.

The market is back green now bitoin has grown 4% so the expectation to $ 7500 is very close it will probably reach it in a few days, this is still worth investing bitcoin prices are still low even though it's green too, but I analyze bitcoin will soon touch $ 8000 in a few Sunday.
So this is a good start for entering December which is expected to rise.

[Wexnident]

The market is back green now bitoin has grown 4% so the expectation to $ 7500 is very close it will probably reach it in a few days, this is still worth investing bitcoin prices are still low even though it's green too, but I analyze bitcoin will soon touch $ 8000 in a few Sunday.
So this is a good start for entering December which is expected to rise.

Well, bears are still fighting back though. Price still going steady within the 7.2k range and after the comeback from 6500, BTC hasn't seen any chances to fight back for a higher place. Well, we'll see how it goes. If bulls are able to fight back towards 7.4k, there's a chance it may continue onward with its pace.

[Upgrade00]

We're witnessing an all too familiar scenario for those who have been involved with bitcoins for a couple of years now.
The further the price drops or stabilizes at a bearish price range, the more people lose enthusiasm and FUD gets generated. The current price range may hold for a when or it may drop further and be the launch to higher grounds, possibly hitting our current ATH.

[piebeyb]

now is recovering a bit and improving after yesterday saw a great battle, I only see we are above $ 7k and if it continues until tomorrow we will see an increase in the next few days and the next few weeks, I don't think it will push to the price of $ 3000, there is still buy support at $ 5500 - $ 6000, so let's look at that in the next few days

[andycarrol]

now is recovering a bit and improving after yesterday saw a great battle, I only see we are above $ 7k and if it continues until tomorrow we will see an increase in the next few days and the next few weeks, I don't think it will push to the price of $ 3000, there is still buy support at $ 5500 - $ 6000, so let's look at that in the next few days

the price has a recovery to 7300 should be 3000 it will not happen. but I'm not sure yet, is it possible that history will repeat, if you look at the last year December 2018 the price really touched 3170. So it is possible if not this month, next month prices can still fall below 4000?

[piebeyb]

now is recovering a bit and improving after yesterday saw a great battle, I only see we are above $ 7k and if it continues until tomorrow we will see an increase in the next few days and the next few weeks, I don't think it will push to the price of $ 3000, there is still buy support at $ 5500 - $ 6000, so let's look at that in the next few days

the price has a recovery to 7300 should be 3000 it will not happen. but I'm not sure yet, is it possible that history will repeat, if you look at the last year December 2018 the price really touched 3170. So it is possible if not this month, next month prices can still fall below 4000?

history might indeed be repeated but I never mention about the month of bitcoin in 2020, the peak is 2021, but most other experts say everything is in 2020, but I still say the peak is 2021, well I know the current price is almost the same as the end in 2018, if the lowest price of bitcoin at the end of 2018 $ 3,000 to the beginning of 2019 soar, if at the end of 2019 this is a low of $ 6,000 and at the beginning of 2020 soar we don't know, let's just look at it later in a matter of weeks and months

[Furious 7]

now is recovering a bit and improving after yesterday saw a great battle, I only see we are above $ 7k and if it continues until tomorrow we will see an increase in the next few days and the next few weeks, I don't think it will push to the price of $ 3000, there is still buy support at $ 5500 - $ 6000, so let's look at that in the next few days

the price has a recovery to 7300 should be 3000 it will not happen. but I'm not sure yet, is it possible that history will repeat, if you look at the last year December 2018 the price really touched 3170. So it is possible if not this month, next month prices can still fall below 4000?

history might indeed be repeated but I never mention about the month of bitcoin in 2020, the peak is 2021, but most other experts say everything is in 2020, but I still say the peak is 2021, well I know the current price is almost the same as the end in 2018, if the lowest price of bitcoin at the end of 2018 $ 3,000 to the beginning of 2019 soar, if at the end of 2019 this is a low of $ 6,000 and at the beginning of 2020 soar we don't know, let's just look at it later in a matter of weeks and months

History will definitely repeat itself why I say that because in 2020 a lot of updates will be developed, moreover many will preach the adoption of blockchain in the future.
Bitcoin may at this time still be low and can be said to be unstable and tend to continue to fall, but in 2021 many people will know what bitcoin is actually and there is where more and more bitcoin users are turning sky high.

[piebeyb]

now is recovering a bit and improving after yesterday saw a great battle, I only see we are above $ 7k and if it continues until tomorrow we will see an increase in the next few days and the next few weeks, I don't think it will push to the price of $ 3000, there is still buy support at $ 5500 - $ 6000, so let's look at that in the next few days

the price has a recovery to 7300 should be 3000 it will not happen. but I'm not sure yet, is it possible that history will repeat, if you look at the last year December 2018 the price really touched 3170. So it is possible if not this month, next month prices can still fall below 4000?

history might indeed be repeated but I never mention about the month of bitcoin in 2020, the peak is 2021, but most other experts say everything is in 2020, but I still say the peak is 2021, well I know the current price is almost the same as the end in 2018, if the lowest price of bitcoin at the end of 2018 $ 3,000 to the beginning of 2019 soar, if at the end of 2019 this is a low of $ 6,000 and at the beginning of 2020 soar we don't know, let's just look at it later in a matter of weeks and months

History will definitely repeat itself why I say that because in 2020 a lot of updates will be developed, moreover many will preach the adoption of blockchain in the future.
Bitcoin may at this time still be low and can be said to be unstable and tend to continue to fall, but in 2021 many people will know what bitcoin is actually and there is where more and more bitcoin users are turning sky high.

renewal and adoption of what is being developed, if you can provide a source link, I said that historical events could have happened do not need to predict something that is not certain will come about future development, currently there is a lot of market manipulation so silence is better to prevent whales change the direction of the clock, at least let's see it later, just save what you want to say after 2021