Bitcoin Highly Unlikely To Nose Dive To $5k Right Now, Analyst

[Subrata65]

Crypto-trader and Blockroots co-founder, Josh Rager, believes it is highly unlikely we will see bitcoin price nosedive straight to $5k. Whilst he doesn’t rule out a drop to this level, in his opinion “there would be bounces in between.”

https://bitcoinist.com/bitcoin-highly-unlikely-to-nose-dive-to-5k-right-now-analyst/

[bL4nkcode]

And on another day they will ask somewhat related to some personalities on crypto companies then they will make a headline from it based on what they/he/she said, since this is the only way news outlets will have their news and even earned from it, from nonsense predictions of random crypto personality.

[sunsilk]

And on another day they will ask somewhat related to some personalities on crypto companies then they will make a headline from it based on what they/he/she said, since this is the only way news outlets will have their news and even earned from it, from nonsense predictions of random crypto personality.

Haha, you got it right. These news articles just get everything that they may content so that the flow of their articles will be continuous. What it would be next time? a known speculator from social media and crypto trader tells that bitcoin will be reaching new highs? these articles really does contain nothing with the news that they publish everyday.

The article calls the names of other popular analyst and prediction experts. And they are looking into long term for bitcoin and still sees that it will be a tough way before it goes on high.

[xvids]

And on another day they will ask somewhat related to some personalities on crypto companies then they will make a headline from it based on what they/he/she said, since this is the only way news outlets will have their news and even earned from it, from nonsense predictions of random crypto personality.

Those TA are becoming more famous because of some random news like this.
This is a win win situation for them the person would be promoted by their headlines as one of the great TA's or such thing then they would earn from it.
They are just promoting this personalities to get more follower.

[Pearls Before Swine]

Okay, well that's not much of a prediction is it?

I could probably have said the same nonsense myself, tho it wouldn't have made the news.  But not only don't I think bitcoin is headed 'straight down' to $5000, I don't think it's headed in that direction at all.  Every time the price drops a few percentage points, we start hearing all of these bearish comments and predictions.  Then if bitcoin goes up a little, it's all sunshine and puppy dogs from the peanut gallery.

They are just promoting this personalities to get more follower.

Yes, and it is unfortunate indeed that they actually do get followers.  Who would listen to inane drivel like this?

[pixie85]

And what is that supposed to say? Bitcoin is not going straight to 5000 because there will be bounces and  Bitcoin is not going straight to 8k because there will be corrections.

Say somebody dumps 1000 BItcoins? We can see market depth is almost non existent. Even 100 Bitcoins dumped on bitstamp make a big red candle so 1000 could take us down to 6k and then it can be a game of bots.

[Text]

Another clickbait again, good job for rephrasing the thread title. No wonder, no one here will believe in these unknown crypto personalities, nothing is interesting though. I don't think  🤔 that this a news with a great TA.
TA that lacks information to defend speculative market movements.

[bitcampaign]

there is no problem if there is a price decline of $ 5k, because we also know about this analysis that the price of bitcoin has full support behind, I think there is a price that will bounce high if it touches $ 5k, where I also saw some analysis of people in this forum prices will not touch below $ 5k anymore, so waiting to enter 2020 is important

[drachman]

Crypto-trader and Blockroots co-founder, Josh Rager, believes it is highly unlikely we will see bitcoin price nosedive straight to $5k. Whilst he doesn’t rule out a drop to this level, in his opinion “there would be bounces in between.”

https://bitcoinist.com/bitcoin-highly-unlikely-to-nose-dive-to-5k-right-now-analyst/

And since when any asset has a tendency to go directly from one price to the other? Anyone that has ever taken a look at a chart knows that the price does not move in a straight line, it moves up a little bit and then it moves down a little bit as well as people are trying to discover what it is the fair price of bitcoin which is a never ending process, so this is not really too much of a prediction since anyone could have predicted something like that.

[pooya87]

yet another idiot making random guesses which the desperate news sites publish for traffic.

at times like this there isn't much movement in the market and as things become calmer and the volumes drop due to holiday,... there can be big drops or spikes but none of them would last. and right now there isn't any reason for the price to go either up or down and it should stay in $7k range. it doesn't really need that much analysis to come up with this though!

[adaseb]

Don't really understand the point of this article since he says "Right Now". Most bull and bear markets usually never go up or down in a straight line, it almost always has ups and downs.

Since we hit $6400 going to $5000 wouldn't be too far off. We had many days of >$1000 before. Even a few days ago we had a day when we went from $6400 to $7500. So if we go back to $6400 then $5000 isn't too far away and can easily reach it in a day or 2. So does that count as a nose dive? I think a nose dive was maybe going from $6500 to $3100 last year when we broke support.

This is why I usually never click on any of these articles because its a waste of time to read. I think they are getting more and more desperate for views that they pretty much publish anything out there.

Maybe I should write my own article and title it "Bitcoin might go to a new all time high ... or it might not".

[Wexnident]

The guy just stating the obvious right now. With how the sideways movement of BTC ongoing plus the continuous resistance of the market towards the 6.6k drops, There's little doubt that it could actually drop to 5k. Sides, he said that it wouldn't drop yet he also doesn't rule out the possibility of a drop to it, Why even bother making a prediction then, when you actually chose both ends of the coin? Jeez. Complete waste of time and completely filled with hype only.

[Wexlike]

Crypto-trader and Blockroots co-founder, Josh Rager, believes it is highly unlikely we will see bitcoin price nosedive straight to $5k. Whilst he doesn’t rule out a drop to this level, in his opinion “there would be bounces in between.”

https://bitcoinist.com/bitcoin-highly-unlikely-to-nose-dive-to-5k-right-now-analyst/

IF (big emphasis on if) we break below the 100 MA (4hr) and turn 7.2k resistance we could easily form a head and shoulders with a PT of around 6.8k. I'm not really putting much weight on this happening and won't be trading based on this assumption unless we have a convincing breakdown to the mentioned range. For the time being I'm thinking that test of low 7.2k a bit ago was backtesting/confirming support (for now).

Lots of support on the way down, so I would rather rule out any possibilities for a 5k coin.

[mirakal]

That's seem to be correct, bitcoin is quite steady at $7,000 now, and it has been rising a bit in the past few days, so not likely to drop with a week only before the end of the year. Next year is having time, so I am expecting that the hype will happen and the rise will continue, when its near to the schedule, $10,000 is easy to achieve IMO.

[buwaytress]

Got some really interesting bets on some peer markets right now actually. Some guy willing to pay up 100x on Bitcoin going to 5k before 1 January. That's really "only" a 30% loss and we've definitely seen much worse happen much quicker, but yeah, hard to see BTC going less than 6k or more than 9k in the remaining week of the year.

Still hoping for fireworks but probably best just set some orders if you're trading and then enjoy the holidays.

[1Referee]

That's seem to be correct, bitcoin is quite steady at $7,000 now, and it has been rising a bit in the past few days, so not likely to drop with a week only before the end of the year.

Bitcoin was quite 'steady' around $10,000, $9000, $8000, $7000..... It's nothing special on its own because despite all that 'steadiness' the price kept tanking.

People here are more likely to agree with less bearish forecasts than with bearish forecasts because they want to see their coins go up. The 'analysts' that they trashed for being bearish are now cool again because they aren't that bearish anymore? Seriously? 

I want to see these 'analysts' show me their recent trade history. I'm pretty sure they will not agree to that because they don't put their money where their mouth is. In other words, their 'analysis' is dog shit.

[Wexlike]

That's seem to be correct, bitcoin is quite steady at $7,000 now, and it has been rising a bit in the past few days, so not likely to drop with a week only before the end of the year. Next year is having time, so I am expecting that the hype will happen and the rise will continue, when its near to the schedule, $10,000 is easy to achieve IMO.

It's like a self fulfilling prophecy. Looking forward for my second halving. This time with a large party with all the people I know in RL who are engaged as well

[FanEagle]

"Unlikely" is the right term for this issue, $5k is looking more and more unlikely with time, we haven't been under 6 thousand dollars ever since that uptick in April. I don't know if we will ever see those prices in history of bitcoin again but it is too soon to speak since the prices look to be about the level where it could nose dive and destroy my logic but I just feel just as the same where bitcoin is not going to drop that much.

We are getting to new year now and there will be a lot of people all around the world who gets an extra payment as new year bonus, the names are different everywhere but usually there are a lot of people who get some bonus, if some of those people actually end up buying bitcoin as well, we might actually see bitcoin over $10k solid this time around.

[STT]

Certainly I dont expect us to move purely in one direction, trend says 5000 is very possible though.   Till trend changes I wait and watch before I can change my mind, I do expect development to occur but its harder to say when or what price exactly.   A spike to 5k is much easier to achieve then actually continually staying at 5k.



Lets look at daily bars just quickly.   Below the 50 day average in blue, so its not time to bullish without serious consideration as we are challenged.    Then we are below 7400 rough area for large long term picture of recovery to ATH, not bullish.   
  The positive is that right now we are above the negative trend, the declining angled line there goes back to July.   We are near to but above that trend, it might be better to wait till end of this week and observe weekly bars to truely this as bullish signal but its quite big if we leave that trend imo.   i.e. 5k less probable then

[YuginKadoya]

Hearsay and FUD are sure surrounding us to give analysis such as these, but if it is the end of the year it is not likely to drop that far, but if we are not making any progress this coming new year then we might see the $5000 USD and that is really consistent right now the bouncing back was always there and waiting for a proper insight is never really easy in my opinion on whether the price will take aa deep dive or a high rise this coming new year and the unlikely halving that may occur can be devastating because we are still in the midst of a bearish market.