Bitcoin Will hit 5500 ?

[The Sceptical Chymist]

i think bitcoin will hiy 5500$  because of bitmex leavrage trading

I don't think you have any idea what you're talking about.  Being able to use leverage shouldn't cause the price to drop any.  Hell, there are already other exchanges that offer margin trading.

And finally, $7k support is broken

There never was any support at $7k.  That's just a fiction created in the minds of TA traders for the sake of making themselves feel safer than they really are. 

I was surprised to see bitcoin going as low as $6728 (where it currently stands) when I got up this morning, but oh well.  Volatility like this shouldn't surprise any of us, I guess.  Maybe this is a christmas sell off or something. 

[Murat]

It's really a disappointing issue that Bitcoin price is not improving for a long time, I think 5500 is not any difficult figure for Bitcoin because it's not the first time to see this type of scenario, we need to find out a proper solution to get solved this pricing problem of Bitcoin, otherwise, people will get lost their interest in Bitcoin, Price volatility is not a bad thing at all but when you see a continuous devaluation of price then it doesn't bring any positive sense towards this issue, so this thing should take seriously without any delay, otherwise anything could happen in this system.

[hulla]

i think bitcoin will hiy 5500$  because of bitmex leavrage trading

Bitcoin can dump to the price range mentioned but no one know the what the bottom price of the bitcoin market will be before halving and the bottom was indeed $5500 it definitely won't be because of exchange site mentioned leverage trading system because current market season is know for been high manipulated.

[Palider]

i think bitcoin will hiy 5500$  because of bitmex leavrage trading

At the moment the price of 1 Bircoin is 6,688 USD and it is continuing to decline and closing as more and more people are waiting for prices of 5,500 USD and 5,000 USD so there is no buy support right now to prevent the collapse.
And we expect it, but after that we will see the price return 6,500 usd to 6,800 usd.

[alexsandria]

i think bitcoin will hiy 5500$  because of bitmex leavrage trading

I don't think so. $5500 was quite deep, and not reasonable for bitcoin to hit such price drop just because bitmex leverage. At $7000 mark was quite tough to break, and we are seeing a bit of price sideways at $7000. Though who knows, right? Or we might slide down when we hit 6k but still I do believe it won't.

[justdimin]

It doesn't look good I can agree with that. I personally never imagined bitcoin going under 7 thousand dollars again after that spike to 9 thousand dollars but here we are under 7 thousand dollars and the economy is hurting. I sure hope that bitcoin recovers but if nothing major changes I am afraid right now in the market there is more bitcoins sold than bought.

Maybe it is the whales who are making these kinds of sales so that they can buy for cheap and get more bitcoins but looking at the buying amounts it looks as if there is not enough buys to justify that neither so I don't know why bitcoin is going down. Surely before halving it should be going up but we are just 5 months away now and people are still selling more than they are buying which confuses me a lot.

[Inkdatar]

The current status of bitcoin is obviously not improving and it seems it can go deeper. But hopefully, it will not hit 5500. The point these days we cannot determined if it will hit to that price because of bitmex leaverage. A lot of reasons why this is happening, some grabbing this opportunity to have some btc since halving is near. This really shows how the market is volatile.

[Dart18]

Is this thing going to be normal thread here in bitcointalk?
Every time there is a dump they will create a new thread which is asking if it will hit the current price -$1000. 
Last time the question was "Will it hit $6000?" and now this.

Well I bet it could hit any number just don't ruin the dump that is happening by creating discussions like this.
Might be a reason for another pump since people will see how cheap bitcoin is now.

[minersday]

So just because some few folks decided to dump bitcoin everybody is now giving us new bottom records of bitcoin. Anyway, this is not the bottom of bitcoin and no matter how we may suffer the volatility of bitcoin i doubt it would ever sink that low. This currenct price is surely one of the perfect buy zone of bitcoin, don't miss out.

[ubercool]

Seeing the raise in longs, it's definitely looking like going towards 5500$ mark because whenever we see more longs, it's definitely going to get short. I'm hoping that am wrong but the trend is looking bearish.

[Hamphser]

Seeing the raise in longs, it's definitely looking like going towards 5500$ mark because whenever we see more longs, it's definitely going to get short. I'm hoping that am wrong but the trend is looking bearish.

I think so. Since there's no sign of having a bullish market yet so better hold them all right now until we see some bullish signs. So for now, accumulating bitcoin for future investment and get ready to hold and invest until the market shows signs of bullishness.

[figmentofmyass]

Seeing the raise in longs, it's definitely looking like going towards 5500$ mark because whenever we see more longs, it's definitely going to get short. I'm hoping that am wrong but the trend is looking bearish.

i'm beginning to wonder if there aren't some shenanigans going on with bitfinex's data. given all the outstanding longs, i expected the breakdown of $6500 last night to trigger a major selloff. the opposite happened. buyers immediately bought price back above $6900 and now the daily chart looks like a double bottom!

[EliteCrash]

Doubt BTC will go any lower than $6,000 but of course that is just my speculation. If it ever drops down to that points I will pick up some BTC at a discounted price I guess. Hoping it will start rising soon so I can get back in the ride.

[okala]

Bitcoin has recovered this evening and this might be the new part that is creating. It seems $6450 is now the new bottom. The wise thing to do is to buy now that it just recover above $7150.

[sunsilk]

Bitcoin has recovered this evening and this might be the new part that is creating. It seems $6450 is now the new bottom. The wise thing to do is to buy now that it just recover above $7150.

It's wiser if everyone bought at $6,500. As I've said, I'm preparing myself to buy at that bottom but it seems that our thoughts of looking to that price was wrong. I guess this is a better turnover and scene now to look for.

And it's starting to go near to $7,200 and now the question will be popped and that would be looking for the reasons for this quick pump.

[Ayiranorea]

Bitcoin has recovered this evening and this might be the new part that is creating. It seems $6450 is now the new bottom. The wise thing to do is to buy now that it just recover above $7150.

There is a big recovery, and now this has made the price to be close around $7200. Maybe the low bottom hasn't reached, but it is sure that there is good resistance and a forward push. This doesn't look like a manipulated one, possibly the growth looks to take place from now onwards, because the previous time price reaching $14000 too got initiated from this value.

[Ridwan Fauzi]

i think bitcoin will hiy 5500$  because of bitmex leavrage trading

Seeing the price movement right now it is very impressing, yesterday it is price touch arround $6.600 and now its price has been increasing and touch $7100.

The sentiment market yesterdays are really bad indeed, I got many information who stated that bitcoin will dump to lower price such as $5000 even $4000. But I'm sure with the increasing now it will change the sentiment market and its price will up drastically.

[Omega Weapon]

Seems we have to prepare more cash to buy the dip, it will drop to the significance level, can't resist the temptation obviously. I'm surprised that there are people willing to sell bitcoin at cheaper rates like below $6000, but there the list; miners, traders, and manipulators. Considering miners still gain profits after cover their expenses, there is no problem to keep selling bitcoin.

For a very short moment you had the opportunity to buy bitcoin for 6500 dollars unfortunately this opportunity was very brief and if you were not watching the market when that happened then you missed it, since then the price has recovered but I have the feeling that is not going to be the last time that we are going to see such a low price, because it seems that everyone is doing the best that they can to defend the 7000 level but it seems like it is a lost battle.

[sana54210]

Going to $5500 doesn't seem all that impossible nowadays, I know that people are bearish when the price is bearish so it goes even more bearish (for some reason people sell low, when they should buy low) but that doesn't mean we "will" go to $5500. We "may" go to $5500 but there is a huge difference between those words, I see bitcoin bottoming out very soon and finally start going back up because halving is getting closer and closer. We just need one hype, one small increase and the price will skyrocket back.

In a scenario where one rich person buys over 5 thousand bitcoins all at once somewhere, the price of bitcoin will skyrocket in every exchange. Of course, these are just my predictions but I see bitcoins bottom as higher than $5500 and closer to $6.4k levels.

[Free1bitco.in]

it looks like the current bitcoin movement is pretty good, and goes up to the level of $ 7k again. to be honest, I also thought that the price of bitcoin would reach a level of $ 5k, but it seems that there is still little hope at this time. bitcoin prices are again working hard to achieve high prices. if the price of bitcoin rises continuously, there is a possibility the price could reach $ 8k at the end of the year, well that's my hope. at least the price of bitcoin is far from the price of $ 5k.