We will never see $6000 bitcoins again and my reason

[LazerViking]

https://bitcointalk.org/index.php?topic=1337473.msg13644861#msg13644861

https://bitcointalk.org/index.php?topic=1445661.msg15004768#msg15004768

I made a similar prediction 4 years ago. I realize $6k is a bold statement, but I think we are smooth sailing higher from here on out for the next 1.5-2 years.  Target peak bitcoin price at climax of new bull run is $200k-400k.

There’s just too small of a supply of bitcoin with such an increasing amount of money and interest flooding into the sector for bitcoin to stay where it is. I think the price bottomed at $3500 and we are now on our way back up.  It will be a slow grind up, but I would say in about 9-12 months that’s when the gut wrenching roller coaster will really begin.

When we have seen it all along, the masses are just beginning to see why bitcoin is so valuable, because it’s scarcity and because it does not have the liability of being attached to any government. It takes a while for the world to wake up to a new paradigm, but this is an idea that can’t be stopped.  Basically as fiat currency keeps getting printed at ever increasing speed, you can count on bad money(fiat) chasing after good money(bitcoin).

So, while other cryptos may do better % wise, bitcoin will maintain market dominance because it has the market momentum and is basically the eponym of cryptocurrency.  Because a lot of noobs coming into the market view bitcoin and crypto as the same thing, most will buy bitcoin. Or, if they are a slightly more sophisticated investor and they choose to diversify into other coins, a majority of their portfolio will be bitcoin, because it is considered to the average person as the safest choice due to it being around the longest.

I admit my prediction is basically a hunch, based on mostly fundamentals and looking at what the price has done historically around the time of the halvenings.  I have been around for a bit so I feel like I have a good pulse on the market. Just my 2 cents.

I would like this post to stay up so I can look back at it fondly from time to time after I’m proven to be right. 

[moviebuff777]

I agree that we will most likely never see Bitcoin drop to $6000 again because we’re getting too close to the halving that the price doesn’t have time to drop significantly again.

[ecnalubma]

Its about time, maybe this year will be a different year for Bitcoin unlike 2019 which undeniably dominated by bear. People are aware that after halving the price improve, lets watch it closely because we might experience another good gains in the next few months.

[Barbarian]

Its about time, maybe this year will be a different year for Bitcoin unlike 2019 which undeniably dominated by bear. People are aware that after halving the price improve, lets watch it closely because we might experience another good gains in the next few months.

Despite the last months of the market that were dominated by the bears the year of 2019 was a positive one and the beginning of this year is proving to be very good and it is possible we are going to witness an even bigger bull run than the one we saw in 2017 what I do not know is if we are going to reach 200k or 400k as the OP suggests but as long as the next bull market reaches at least 50k then I will be happy with my results since at that point the value of my coins will allow me to make my life a lot easier.

[STT]

Seems a reasonable guess but I was expecting us to drag along the bottom for a while longer.    The action recently has been bullish and we rose from a low, could be we pull back as too many speculators are the cause of the rise but it might be we have ignited a bigger section of bullish action.
   I think price action is classic looking stair stepping higher.   However it does need to confirm on 4hr bars and also weekly bars, so its until Sunday we wont exactly be sure.   Meanwhile the 2 day average catches up and thats where we get some weight of selling in theory.

[yulionoo]

yes I also agree with you bitcoin will not fall to the price of $ 6000 because at this time bitcoin has experienced an increase to $ 8300. and I think the next bitcoin will continue to increase until bitcoin is reduced by half next year. it looks like history will repeat itself in 2016 bitcoin also continues to increase before bitcoin is reduced by half.

[samuraijin]

I believe it will not touch another $ 6000 if we really come out touching the price of $ 11k, we will no longer see the price of $ 6000 or even $ 7000, I see the price increase yesterday until now hopefully it will not drop deeper when the bitcoin price has peaked, at least prices must continue to touch the 5 digits in the near future so that it does not go down too deep later, your thread will be a witness in the future

[Wexnident]

Well, seems fair enough. But never is kind of an overstatement I'd suggest? A low probability is all I'd give to it tbh. If we ever see a massive bubble just like in 2017, I'd say there's a fair enough chance for the market to crash so bad it'd go back to $3k or $4k. Just a hunch, but completely possible, since we are talking about a crash. Sure enough, a lot of people are getting to know Bitcoin, and a lot are realizing its monetary value, especially with countries that have a dead economy(Speaking about how Iran bought out BTC at $24000 worth of Iran currency).

[panganib999]

I agree that we will most likely never see Bitcoin drop to $6000 again because we’re getting too close to the halving that the price doesn’t have time to drop significantly again.

The halving may help in stopping the price from decreasing drastically, but It doesn't meant hat we can't reach $6k again. I mean, $6k is still quite a high level, and even if Bitcoin reached another ATH after the halving, there's still the possibility of it actually going down because of the massive push it did to get to another ATH. That in the end is just a possibility though.

I believe it will not touch another $ 6000 if we really come out touching the price of $ 11k, we will no longer see the price of $ 6000 or even $ 7000, I see the price increase yesterday until now hopefully it will not drop deeper when the bitcoin price has peaked, at least prices must continue to touch the 5 digits in the near future so that it does not go down too deep later, your thread will be a witness in the future

Nuh uh. Remember that we touched upon $19k in the past and YET we still touched massive lows back then. Could still happen all the same.

[Distinctin]

It might only fudder will say that Bitcoin will drop hard this year as we know that halving is coming.
This might be the year that we've been waiting for so long. Quite interesting to see that the market price trend climbing back at high, and it all be coming to the top again. ATH might not possible this time if this trend will never change.

[FairUser]

The current market is bustling again and the price of bitcoin is rising slowly. I like the way the growth looks like right now because it will create a stable support and the price of bitcoin is very unlikely to collapse suddenly like before. I also hope that we will never see bitcoin at 6000 $ again. The goal this year is to break ATH in 2017 and create a new record

[gabbie2010]

I agree that we will most likely never see Bitcoin drop to $6000 again because we’re getting too close to the halving that the price doesn’t have time to drop significantly again.

I also agreed with the OP prediction, technical analysis of BTC/USD on a daily chart indicates series of supports the price would have to breakthrough before dumping to $6000 which is unlikely,  we have three to four strong supports and the upcoming halving of bitcoin is more of a positive news that would pump it price.

[The Sceptical Chymist]

I admit my prediction is basically a hunch, based on mostly fundamentals and looking at what the price has done historically around the time of the halvenings. 

I'm sure a lot of folks are thinking the same thing as you and probably for the same reasons above, but I'm not convinced.  Bitcoin has surprised me time and time again by doing things I never thought it would do.  When it was above $10k last time, I was almost sure that it would never drop below that level again--and here we are, a couple thousand dollars below it. 

But believe me, I hope you're right.  I just wouldn't bet the ranch on it.  This last bit of bullishness has colored a lot of people's glasses a nice shade of rose, but don't start thinking that bitcoin is never going to crash again.  Even if the halving brings it back up to $20k and beyond, it could easily fall below $7k again.  Easily.

[andycarrol]

some of the effects of the Iran war made gold and oil increase, as did bitcoin and as the Middle East war escalates, bitcoin is the best place to protect their assets. so maybe we won't see the 6000 number anymore, especially the 4-year event happening this year.

[Soots]

It might only fudder will say that Bitcoin will drop hard this year as we know that halving is coming.
This might be the year that we've been waiting for so long. Quite interesting to see that the market price trend climbing back at high, and it all be coming to the top again. ATH might not possible this time if this trend will never change.

The trend can't be certain if this current market will not increase substantially. All ideas coming in right now was hoping for better results as expected. However it's not yet going to be as quick as many people had been expecting, but seeing btc goes down that bad of $6k was really annoying.

[Raflesia]

It might only fudder will say that Bitcoin will drop hard this year as we know that halving is coming.
This might be the year that we've been waiting for so long. Quite interesting to see that the market price trend climbing back at high, and it all be coming to the top again. ATH might not possible this time if this trend will never change.

I will not believe in FUD news because it likes to give news that is not in accordance with the facts.
We are now looking forward to where the market trends have arrived, whatever others are talking about, is too serious because they only spread FUD.
Indeed, this year many are looking forward because halving will come in the near future, hoping this will approach ATH.

[Icygreen]

https://bitcointalk.org/index.php?topic=1337473.msg13644861#msg13644861

https://bitcointalk.org/index.php?topic=1445661.msg15004768#msg15004768

I made a similar prediction 4 years ago. I realize $6k is a bold statement, but I think we are smooth sailing higher from here on out for the next 1.5-2 years.  Target peak bitcoin price at climax of new bull run is $200k-400k.

There’s just too small of a supply of bitcoin with such an increasing amount of money and interest flooding into the sector for bitcoin to stay where it is. I think the price bottomed at $3500 and we are now on our way back up.  It will be a slow grind up, but I would say in about 9-12 months that’s when the gut wrenching roller coaster will really begin.

When we have seen it all along, the masses are just beginning to see why bitcoin is so valuable, because it’s scarcity and because it does not have the liability of being attached to any government. It takes a while for the world to wake up to a new paradigm, but this is an idea that can’t be stopped.  Basically as fiat currency keeps getting printed at ever increasing speed, you can count on bad money(fiat) chasing after good money(bitcoin).

So, while other cryptos may do better % wise, bitcoin will maintain market dominance because it has the market momentum and is basically the eponym of cryptocurrency.  Because a lot of noobs coming into the market view bitcoin and crypto as the same thing, most will buy bitcoin. Or, if they are a slightly more sophisticated investor and they choose to diversify into other coins, a majority of their portfolio will be bitcoin, because it is considered to the average person as the safest choice due to it being around the longest.

I admit my prediction is basically a hunch, based on mostly fundamentals and looking at what the price has done historically around the time of the halvenings.  I have been around for a bit so I feel like I have a good pulse on the market. Just my 2 cents.

I would like this post to stay up so I can look back at it fondly from time to time after I’m proven to be right. 

Thanks for starting a new thread and posting your views and the links to your previous predictions. I had thought you deleted my comment until I discovered that the entire thread was deleted for lack of OP content.  Fair enough.
I also believe 6k will not be broken again however if it does, I'll be throwing everything I can at it like last time at 3k's.
The previous support base at 6.4K will act as major support now and anything that gets close will be bought immediately.

Personally, I think anything below 10K is a bargain. I think of 8k as a 20% discount. 
Soon It will naturally make sense (psychologically and mathematically) to view .01 bitcoin as $100, in fact most of us probably already do.

[coinary]

I hope the same.

The thread's author has good reasons, I hope after halving the market didn't crashes bellow to $6k (some people are forecasting it) taking account the mining cost.

[STT]

Never again suggests we have put in multi year lows on good volume and certainty by the market.   We got to 6425 recently so its too early to presume we will far past that after very little time.
   The last big volume spike I see was on October 26th and in theory volume counts more then the actual price for putting in levels that last.   We can have any price on any day if volume is low enough, the extremes can get to call the shots briefly high or low.

6k is possible still even if briefly.