Bitcoin Drops $1,600 Amidst Global Uncertainty. What's next for BTC?

[cryptoadvocate]

20 MA, on weeks ?   I see yearly and 200 day average are underneath the price currently so BTC getting back above is some positive.

We seem to have some closing of range possible or momentum of the 2 day average reflecting the recent rise but then weekly average at 8500 is a good marker for resistance possible there.  Maybe a break either way but for the moment I think it is positive.   If we lose these recent gains then possibly it turns more negative.

Agreed, seems rangebound with weekly and monthly levels overhead acting as resistance, major ma's below as support

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[ballerin and giroud]

But in the fact bitcoin price is still stand on $8500 as its support for has been several times. Which I mean there is no dump anymore in my prediction. If we just talk about about prediction and we just use technical analyst only it might be less accurate. Maybe you need to integrated it with fundamental analyst, then I will be agree with what you are predicting. You should know, what is happening on cryptosphere at this time, because it will change the sentiment market.

[criza]

Both possibilities has a high chance to happen because, we still don't know for sure on what is the effect of the upcoming halving event in the standing of Bitcoin in the present. Some month ago as the price of Bitcoin have reached its all time high this year, I though it will continue and a bull run ensues in the month of the halving but, I was wrong, it faded when it started to decrease till now. Still, I believe that the halving event would indeed affect it greatly in the future.

[gabbie2010]

I just hope the drop in the price reach $8K where a support might hold it meanwhile the price had dumped to $8300 till $8K at that zone buying would be secured the fear of more dump would be allayed.
Speculations of a likely in the aftermath of halving is sure way of making huge profits if we continue to buy and accumulate while some clever traders buy low and sell high irrespective of any fundamentals that might influence the price.

[Slow death]

Will Bitcoin drop further or recover from here?

I believe that by this time you should already be seeing the bloodbath and you should already have the answer to that question you asked on this thread.

March 8th, current price: $8300 and is struggling not to drop below $8000.

What are the prospects for the next 3 months in my opinion?

In my opinion in the next 3 months the price will be between $6800 to $7700

Speculations of a likely in the aftermath of halving is sure way of making huge profits if we continue to buy and accumulate while some clever traders buy low and sell high irrespective of any fundamentals that might influence the price.

years ago it was a small market, now it seems that the rich are in control. weeks ago someone who made a profit of 7 million dollars predicted that the price would fall a lot... today we are seeing this bloodbath, does he have a crystal ball or does he use other methods that I don't need to mention?