Bitcoin Will hit 5500 ?

[DevilSlayer]

Even though it's hard to admit, it's the worst possible case of bitcoin going towards $ 5,000. We must be prepared for any conditions,
my advice is still patient with holding bitcoin, until mid-2020. Because even though the current market conditions are very bad, there
is still hope that bitcoin will return to the peak price. Right now the biggest hope is that there will be a halving effect for the rise in bitcoin
prices. Hopefully, we will enter the beginning of the year there is a positive movement towards the price of bitcoin. We have to tolerate
the price of bitcoin is now down, because it wants to welcome Christmas and the new year. Which investors are in need of money to spend
celebrating Christmas and the new year.

As long as the market is still in downtrens, there are many possibilities that may happen. It is possible that the bitcoin will become more cheaper because the selling pressure is high and the buyers are overwhelming by seller that causing the decline of the price of bitcoin. I recently sell my bitcoins when it got breakdown, for me it is a cut loss strategy to minimize my losses.

[blandana]

Even though it's hard to admit, it's the worst possible case of bitcoin going towards $ 5,000. We must be prepared for any conditions,
my advice is still patient with holding bitcoin, until mid-2020. Because even though the current market conditions are very bad, there
is still hope that bitcoin will return to the peak price. Right now the biggest hope is that there will be a halving effect for the rise in bitcoin
prices. Hopefully, we will enter the beginning of the year there is a positive movement towards the price of bitcoin. We have to tolerate
the price of bitcoin is now down, because it wants to welcome Christmas and the new year. Which investors are in need of money to spend
celebrating Christmas and the new year.

As long as the market is still in downtrens, there are many possibilities that may happen. It is possible that the bitcoin will become more cheaper because the selling pressure is high and the buyers are overwhelming by seller that causing the decline of the price of bitcoin. I recently sell my bitcoins when it got breakdown, for me it is a cut loss strategy to minimize my losses.

Unforuntately trusting someone who can only say just hold is very dangerous (this isn't a sell signal, but it is dangerous to trust someone like that, we're obviously having more volatility at the moment).  When I started that's how I lost half of my money.  It may seem glamorous but if you can understand the market you'll realize there are weeks of warnings sometimes and it can be easy if there wasn't so much wash trading (mostly in the up direction).

[Shinpako09]

It's no surprising if ever we touched on that floor. We are in bear market, so it's kinda given that most aren't expecting a gain, a resistance or fall instead. The bitmex issue addition to bad news making it more possible to be in bottom again plus it's holiday season, many will sell for personal matters.

Actually, it's not bad at all, atleast many of us can buy at a cheaper price before halving since most of us are expecting a massive rise after that.

[adaseb]

Yes we could hit the $5500 area but it won't be from over-leveraged longs on Bitmex. 2018 was different, November came and everybody was long using leverage. Right now I am sure many people are short on Bitmex, we might see $8500 before we see $5500.

I don't know how much of this is true but on Bloomberg was the piece about Plus Token selling their Ponzi ETH and BTC coins which is leading to this decline. Might or might not be true. The ponzi was actually exposed back in June 2019 when the peak happened, so its possible it might of been the fuel from $4K all the way to $14K.

However reading this forum and the posts on Twitter and Reddit, there are too many bears at the moment and leads me to think that we might be near the bottom, pretty soon and much closer than $5500.

[philipma1957]

Yes we could hit the $5500 area but it won't be from over-leveraged longs on Bitmex. 2018 was different, November came and everybody was long using leverage. Right now I am sure many people are short on Bitmex, we might see $8500 before we see $5500.

I don't know how much of this is true but on Bloomberg was the piece about Plus Token selling their Ponzi ETH and BTC coins which is leading to this decline. Might or might not be true. The ponzi was actually exposed back in June 2019 when the peak happened, so its possible it might of been the fuel from $4K all the way to $14K.

However reading this forum and the posts on Twitter and Reddit, there are too many bears at the moment and leads me to think that we might be near the bottom, pretty soon and much closer than $5500.

the floor for well prepped miners is about 4000.

I would not mind a drop from 6800 to 5900 maybe even 4900.

Not looking for it to go to 3900.

[arwin100]

Even though it's hard to admit, it's the worst possible case of bitcoin going towards $ 5,000. We must be prepared for any conditions,
my advice is still patient with holding bitcoin, until mid-2020. Because even though the current market conditions are very bad, there
is still hope that bitcoin will return to the peak price. Right now the biggest hope is that there will be a halving effect for the rise in bitcoin
prices. Hopefully, we will enter the beginning of the year there is a positive movement towards the price of bitcoin. We have to tolerate
the price of bitcoin is now down, because it wants to welcome Christmas and the new year. Which investors are in need of money to spend
celebrating Christmas and the new year.

As long as the market is still in downtrens, there are many possibilities that may happen. It is possible that the bitcoin will become more cheaper because the selling pressure is high and the buyers are overwhelming by seller that causing the decline of the price of bitcoin. I recently sell my bitcoins when it got breakdown, for me it is a cut loss strategy to minimize my losses.

Unforuntately trusting someone who can only say just hold is very dangerous (this isn't a sell signal, but it is dangerous to trust someone like that, we're obviously having more volatility at the moment).  When I started that's how I lost half of my money.  It may seem glamorous but if you can understand the market you'll realize there are weeks of warnings sometimes and it can be easy if there wasn't so much wash trading (mostly in the up direction).

It's the common suggestion by the people who just want to lift up the spirit of the people but unfortunately it's different story in this scenario since if you keep holding with no proper posture of the market condition for sure you will end up pressuring yourself to see a good price to sell even though it's on losing pace. But if you learn the cut loss strategy then might you thinking straighly and earn what you lose at the time the market upset occur.

[o48o]

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

What the hell leverage trading got to do with that? I can see no causality but by all means please share more of your insights. Maybe you got some magic fa ta combination that no one has thought of.

[killerfrost]

Obviously, there is no Merry Christmas and Happy New Year gift from Bitcoin. While there can be some who expected some price surge as we are nearing the holidays, I already this that this month can be anemic for our beloved digital asset. And of course, there are many holders who are selling their Bitcoin maybe for personal reasons. This is the part of volatility that I don't really like but there is nothing I can do but just continually hold, wait and just hope that in January the carnage can be stopped and that the halving will start to be showing some influence on the market.

Since I knew this market until now, the market is always bleeding at the end of the year. I don't know why but I have never seen a Christmas present from this market. Always losing money and losing money in the last months of the year, this year will certainly be the same. Bitcoin is currently at $ 7000 and it will soon go down to $ 5800 in the next few weeks before a new round of growth begins

[Reid]

If you're holding or holding profits best just to keep holding and try to increase your holdings by buying morw
. Minimal amounts can be shorted on leveraged trading but I don't have too much trust in the manipulators of this market).

I will have to agree with that.

Worse may come but it is also a possibility for new buyers to come or those who are getting ready with their cash or USDT to become bitcoin again.
Hold the bitcoin and add some more.
That is the main road that I want to keep tracking for now. It is difficult already to buy bitcoin an expensive price. I don't want to make it worse by regretting it when the price suddenly pumps up.

[gabbie2010]

Obviously, there is no Merry Christmas and Happy New Year gift from Bitcoin. While there can be some who expected some price surge as we are nearing the holidays, I already this that this month can be anemic for our beloved digital asset. And of course, there are many holders who are selling their Bitcoin maybe for personal reasons. This is the part of volatility that I don't really like but there is nothing I can do but just continually hold, wait and just hope that in January the carnage can be stopped and that the halving will start to be showing some influence on the market.

Since I knew this market until now, the market is always bleeding at the end of the year. I don't know why but I have never seen a Christmas present from this market. Always losing money and losing money in the last months of the year, this year will certainly be the same. Bitcoin is currently at $ 7000 and it will soon go down to $ 5800 in the next few weeks before a new round of growth begins

Price history is repeating itself again the price action of bitcoin towards the end of every year is always on decline this year not an exception as Christmas approaches it price is already heading to $6500 though trying to break the support at that zone I believed before we can have any growth as you rightly it might be early next year thus the only option now is to buy and accumulate while traders should only sell  not buy at the appropriate zones.

[bitbunnny]

Another correction, this time we go under 7000$ but I don't think that some sharp price will happen. I don't think the price will go under 6000$, although some further corrections are possible. It's more likely that price will stay somwhere in range between 6000$ and 7500$.
Also, I don't think that current price correction has anything to do with Christmas and holiday season.

[karanggatak]

yes maybe bitcoin can fall to $ 5500 because currently the price of bitcoin is $ 6800. if the next days bitcoin continues to decline then maybe by the end of this December the price of bitcoin will be $ 5500. Don't despair and keep on believing that bitcoin can pump again. this kind of decline is common in bitcoin. and if we have savings I think if bitcoin can go down to $ 5500 it would be a good opportunity for us to buy bitcoin again. and then hold it until the bitcoin bull run.

[NewRanger]

Another correction, this time we go under 7000$ but I don't think that some sharp price will happen. I don't think the price will go under 6000$, although some further corrections are possible. It's more likely that price will stay somwhere in range between 6000$ and 7500$.
Also, I don't think that current price correction has anything to do with Christmas and holiday season.

i have different opinion , we have to things that give pressure to bitcoin price. first thing tehnically bitcoin price will test level on around $5700 that previously tested as support , and now price trying to test it as valid suport or not. and second thing we know usually in end of december many investors some their assets that used to their holiday. moreover now near in christmas event, i am sure it will hit below $6k again in near future.

[exstasie]

If the $6K zone doesn't hold, then $5,400 is the next area of interest. That's where the 0.786 fib of the 2019 uptrend is. It's a common Wave 2 retracement level; I know xxxx123abcxxxx is watching for a reaction off it.

If that doesn't hold, things start to look pretty ugly.

[kapalmabur]

I hope not, because if $ 6400 is broken then $ 5500 will be reached,
hopefully this time the support can be strong and ready to fly again at least at $ 8000

[Oceat]

And finally, $7k support is broken so the resemblance of what happened in January this year might happen next year. We might see the $3k again if things get ugly after breaking several supports level.

So Bitcoin just hit the $6,800 it might revolve at that price range up to $7k or down to $6.5k

[crossabdd]

Let's wait and see. because bitcoin is still at a price that supports pumps. I just think if bitcoin falls back below $ 6700 then the next lowest level is as you say $ 5500. My expectations for bitcoin only reach at $ 6700 as the lowest price and pump return.

[cryptoangel]

Bitcoin is a longterm relationship platform so 5.5k hit will never occur at this year. Last year it was stay in low level and again it will growing after May month so it will never hit the low level on current period. I hope current dump make continuous hype on next month and all are active in next uptrend.

[daarul50]

Yes we could hit the $5500 area but it won't be from over-leveraged longs on Bitmex. 2018 was different, November came and everybody was long using leverage. Right now I am sure many people are short on Bitmex, we might see $8500 before we see $5500.

I don't know how much of this is true but on Bloomberg was the piece about Plus Token selling their Ponzi ETH and BTC coins which is leading to this decline. Might or might not be true. The ponzi was actually exposed back in June 2019 when the peak happened, so its possible it might of been the fuel from $4K all the way to $14K.

However reading this forum and the posts on Twitter and Reddit, there are too many bears at the moment and leads me to think that we might be near the bottom, pretty soon and much closer than $5500.

that is the fact. this is bearish .

it is inevitable now , once it goes down , it goes down for real. especially when you look at several altcoins start to moving up , this is a clear sign that some big whales moved his vitcoin already to altcoins to play some trade games there.
this is too obvious now that the altcoin season coming , it is coming now.

altcoins up 10%, 20% a day and bitcoin down 5% to 10% a day.
any other accurate speculation than this?
i have this data in my pocket since the rise of bitcoin . now it is time to get a little nap for the bear bitcoin and let the bull hits altcoins.

[dimonstration]

Let's wait and see. because bitcoin is still at a price that supports pumps. I just think if bitcoin falls back below $ 6700 then the next lowest level is as you say $ 5500. My expectations for bitcoin only reach at $ 6700 as the lowest price and pump return.

I don't think it will hit that low as halving is approaching. The price may fall to 6k but I hope not to touch 5K as it may send many FUDS to investors that halving have no longer effect in BTC price. Will jsut keep buying until halving happens if I have some extra to buy.