How low will BTC go?

[BTCgrinders.com]

This is not looking too good for Bitcoin holders. Some scientists estimate there will be 100 million plus infected with the Coronavirus2019 in the United States, eventually.

USA is the finance and Bitcoin capital of the world.

[Wilhelm]

This is not looking too good for Bitcoin holders. Some scientists estimate there will be 100 million plus infected with the Coronavirus2019 in the United States, eventually.

USA is the finance and Bitcoin capital of the world.

Influenza is a part of life. Corona will be too.
Just need to get used to the idea.

In a year they will be close to a vaccination...

[jackg]

A vaccine hopefully shouldn't be needed as the world should be able to iradicate it by then, if the un picks 3 weeks, tells everyone to save up to then and gives everyone a certain amount to live off etc then the virus should be well contained (at max a month) but they ought to try to do something if this hasn't gone away by Christmas.

It's probably useless to try to guess how far btc can fall. It could go to zero or it could stop at $4000.... Or it could see a short squeeze at $5k and go straight up...

[The Sceptical Chymist]

USA is the finance and Bitcoin capital of the world.

Financial capital, perhaps, but I thought China ruled the bitcoin world.  In any case, both finance and crypto are completely global and I seriously doubt that even if millions of Americans were infected with COVID-19 it would kill the economy.  Right now it's not really the virus that's causing markets to slump; it's the outbreak of fear of the virus that's doing it.  Most people who get infected will have mild symptoms and will recover nicely--and I get that COVID-19 is worse than a cold, but it's not exactly like other viruses which are much more virulent.

Anyone see the movie Contagion?  Great flick, and people right now are almost reacting like the folks in the movie did. 

Oh yeah, how low will bitcoin go?  It's under $6k at the moment, and I have a strong feeling that it'll go lower before it goes higher--and the reason I say that is because I don't think the panic is anywhere near over, and I think people are going to be hoarding cash for months at least.  That means everything is going to get sold, including stocks, bonds, oil futures, and bitcoin.

[El duderino_]

USA is the finance and Bitcoin capital of the world.

Financial capital, perhaps, but I thought China ruled the bitcoin world.  In any case, both finance and crypto are completely global and I seriously doubt that even if millions of Americans were infected with COVID-19 it would kill the economy.  Right now it's not really the virus that's causing markets to slump; it's the outbreak of fear of the virus that's doing it.  Most people who get infected will have mild symptoms and will recover nicely--and I get that COVID-19 is worse than a cold, but it's not exactly like other viruses which are much more virulent.

Anyone see the movie Contagion?  Great flick, and people right now are almost reacting like the folks in the movie did. 

Oh yeah, how low will bitcoin go?  It's under $6k at the moment, and I have a strong feeling that it'll go lower before it goes higher--and the reason I say that is because I don't think the panic is anywhere near over, and I think people are going to be hoarding cash for months at least.  That means everything is going to get sold, including stocks, bonds, oil futures, and bitcoin.

Saw the movie longer time ago, but many similarities with whats happening with the corona virus, also very nice cast in that movie.

[naaimmd]

This is not looking too good for Bitcoin holders. Some scientists estimate there will be 100 million plus infected with the Coronavirus2019 in the United States, eventually.

USA is the finance and Bitcoin capital of the world.

well, it's hard to say what will happen and we saw a huge dump and pump yesterday. today bitcoin hit 3800$ and pump again 5500$ for now it looks like stable in 5000$ support but I think BTC will hit 2000$-3000$ soon and I hope it won't fall below that.

[fabiorem]

It touched $3k last night.

Might happen again, but the window is very short.

[naaimmd]

It touched $3k last night.

Might happen again, but the window is very short.

yes I never saw this much violation in one day and current scenario not looking good if it's dump 3000$ again I hope it stabilizes there otherwise it will go bellow 2000$ this week

[Baofeng]

It touched $3k last night.

Might happen again, but the window is very short.

yes I never saw this much violation in one day and current scenario not looking good if it's dump 3000$ again I hope it stabilizes there otherwise it will go bellow 2000$ this week

No, the crypto market has bounce back already, the lowest price I saw was $4100 with minus 46% down.

Just look at the market now, it is now $5600 and minus 6%. Obviously, everything has settled down, the manipulators has played us again, using the corona scare as means to manipulate the market and make tons of money out of those who fear the epidemic. Now, the question, is this a trap? how are we as investors/ traders going to react about the flash bounce?

[Lucius]

Just look at the market now, it is now $5600 and minus 6%. Obviously, everything has settled down, the manipulators has played us again, using the corona scare as means to manipulate the market and make tons of money out of those who fear the epidemic. Now, the question, is this a trap? how are we as investors/ traders going to react about the flash bounce?

Who can say is this huge drop the work of some whales who used the pandemic news to lower the price as much as possible, or panic around the world has done its thing. However, it should be borne in mind that the price of BTC performed very well when other markets recorded large losses (stock market $5 trillion loss in just few days), and even gold was down.

Obviously there was a point of resistance that at one point broke, and the trigger was the declaration of a pandemic which is followed by 20% drop in price of oil, and another big crash of stocks markets. All in all I think we did well (because it could have been a lot of worse) but since the virus has just started spreading over the Europe, fear and panic will have a huge impact on all markets in the months to come.

[BTCgrinders.com]

It touched $3k last night.

Might happen again, but the window is very short.

yes I never saw this much violation in one day and current scenario not looking good if it's dump 3000$ again I hope it stabilizes there otherwise it will go bellow 2000$ this week

No, the crypto market has bounce back already, the lowest price I saw was $4100 with minus 46% down.

Just look at the market now, it is now $5600 and minus 6%. Obviously, everything has settled down, the manipulators has played us again, using the corona scare as means to manipulate the market and make tons of money out of those who fear the epidemic. Now, the question, is this a trap? how are we as investors/ traders going to react about the flash bounce?

If that's the case, this is just the beginning. The media is going insane over a small handful of cases in the USA, but what's going to happen when roughly 50 to 150 MILLION people have it in the USA and the media starts to focus on the 1 to 3 million that dies?

[bgaf]

This is not looking too good for Bitcoin holders. Some scientists estimate there will be 100 million plus infected with the Coronavirus2019 in the United States, eventually.

USA is the finance and Bitcoin capital of the world.

The virus will continue for few more months or worse years. People cannot sustained some of their needs when this time come and definitely the only resort is to sell assets either on shares, stocks, business venture and even crypto asset. We cant deny the fact that not all have good standing in life and you cant blame them for doing so, if you marked them as stupid or not thinking then we are just judgemental people who are not understanding their situation but keep talking here and blaming them. Whales have different case and thinking, they arent care much to people have beem swayed by their brutal move. I didnt sell any asset but I understand some who did dumped.

[bassbity]

This is not looking too good for Bitcoin holders. Some scientists estimate there will be 100 million plus infected with the Coronavirus2019 in the United States, eventually.

USA is the finance and Bitcoin capital of the world.

The virus will continue for few more months or worse years. People cannot sustained some of their needs when this time come and definitely the only resort is to sell assets either on shares, stocks, business venture and even crypto asset. We cant deny the fact that not all have good standing in life and you cant blame them for doing so, if you marked them as stupid or not thinking then we are just judgemental people who are not understanding their situation but keep talking here and blaming them. Whales have different case and thinking, they arent care much to people have beem swayed by their brutal move. I didnt sell any asset but I understand some who did dumped.

With this corona virus making them continue to urge needs so that their assets will be sold to supply food and etc. they need, I also know conditions like this because there are no more activities out there so selling assets is the best choice for them , and maybe they will start again from zero to invest in crypto.

With this dumping there are several factors between its ongoing fud news and also panic from the holders so that they panic and sell their assets to the stock exchange.

[Jating]

At least today we have seen some relieved, the market is going green and we didn't fall to $3k or even lower as others have predicted. But still the market situation is uncertain, if this is tied to the corona virus scare then we should expect more people going to sell off to have cash on hand to buy some basic needs like food and water.

So we need to be very cautious, of course, it is good to see the market rebounding, but we can really tell if this is just momentarily peak because they see that the price of most crypto are very cheap. But what if in the next coming days, we see worst situations? maybe we can see some massive sell off again.

[The Cryptovator]

I don't think only USA is capital of bitcoin, and this isn't real reason of current bitcoin dump (IMO). We know how world populations are on panic now because of Corona fear. Due to panic they want to hold some real cash for emergency situation incase if happen something wrong. As a result huge bitcoin sell was happened. And that's the real reason of current bitcoin crash (IMO).

I will not surprised if bitcoin back to previous bottom on $3K zone. Because COVID-19 still out of control, so still there is chances for more dump. When world overcome Corona panic then most likely bitcoin will start grow up (IMO).

[Twinkledoe]

At least today we have seen some relieved, the market is going green and we didn't fall to $3k or even lower as others have predicted. But still the market situation is uncertain, if this is tied to the corona virus scare then we should expect more people going to sell off to have cash on hand to buy some basic needs like food and water.

So we need to be very cautious, of course, it is good to see the market rebounding, but we can really tell if this is just momentarily peak because they see that the price of most crypto are very cheap. But what if in the next coming days, we see worst situations? maybe we can see some massive sell off again.

This is the reason why health authorities should fast track the vaccine for this virus or cure for those infected. But I'm glad that bitcoin didn't hit below 3k. This is a big challenge not only in crypto but across the globe. Economy of countries that are hardly hit by this virus is not doing well, so many losses because of business closures. But at the moment, let's enjoy the fact that we are now above 5k and still doing  good.

[imstillthebest]

This is not looking too good for Bitcoin holders. Some scientists estimate there will be 100 million plus infected with the Coronavirus2019 in the United States, eventually.

USA is the finance and Bitcoin capital of the world.

100 million plus infected what ? .  usa might be the btc capital but what about china ? china is also know as the supplier for btc mining equipment and also known for a big country  , most of these people also involved on btc.  to the question if how low btc will go ? i think this is the lowest point because i observed that the price are only recovering but there are times that it fell but it didnt fell hard anymore .

  this isnt looking good for a btc seller like me but this looks good for the whales and the people that are going to invest .

[UnDerDoG81]

I bought in 2014 and hodl. But if it dips sub $1000 I gonna buy for sure even though I never bought after 2014 and got all my eggs in the Bitcoin basket.

[Finestream]

That's a huge number, I think the analysis is wrong, OP, can you provide a source of that information?
Things will be worse if that would happen, imagine what is already happening now, maybe bitcoin will be back to $100 if that prediction will come into reality.

Actually I don't believe it will happen, so I would not panic.

[Republikcoin.com]

I hope that the vaccine for this virus will soon be found. if not, little by little, it will erode the prices of various types of investments, not even just bitcoin, but also various types of investments. Well, if this can get worse, prepare everything for it, or you can convert your assets into USDT.