How low will BTC go?

[Wexnident]

Well, as long as the panic is there, economy would probably continue crashing still. Possible comeback of BTC is either when the mass populace actually learns what's what in terms of knowledge regarding the virus and them knowing that their hoarding is actually just spreading more panic. Another would be the development of a vaccine. Stocks and crypto market would probably make a huge comeback, possibly even bigger compared to its initial one before the economic crash. The root of it all is the mass panic spread by the NCOV virus after all, so once either the people know what it's about or a solution has been made, things should go/return slowly back to normal.

[carlisle1]

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.

Nope thats wrong because this is the best time for Bitcoin Holders imagine we can buy at 4k? When will be that chance happen again?And this will give us more opportunity to gain sooner.
I am a Bitcoin Holder myself that i why i consider this as once in a blue moon opportunity.

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.

It will mate because whole world are looking for the vaccine and i believe that Americans will not let this Virus ruin the world when the cure ca be found.

[dragonvslinux]

I think price "can" drop to around $2,500 (based on September 2019 TA, so "ignoring" the past 6 months of price action). This would be based on another round of capitulationon breaking the $3,850 lows, the 2014 fractal as well as $6,200 holding as resistance, but otherwise would only give 10% chance of this at the moment (at best).

For me, it's an 80% chance that $3,850 is the new swing low. Problem is, if we break this, I find the likelihood of holding $3,200 lows as pretty low odds.

[buwaytress]

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...

Agreed. This is bad, it will probably get worse before it gets better, but life goes on and people pick up the pieces. I think this kind of unexpected kill-all event has done its best to hit everything and so far the effects are strong and will continue to reverberate but Bitcoin's resilience is particularly unique. It moved past the 2017 crisis (remember that?) and it'll move past this one just as quickly.

And in a few years, the whole world will again be watching cat videos and Kardashian memes.

[Rosilito]

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.

Hi there, man. Where's the source of this estimation/claim 'cause I couldn't find anything similar in the internet. Anyway with that saying, it is not always that infected people are going to die, 'cause recovery cases counts greater than death cases and usually the people who died with the virus are the ones who have disease existing already before getting infected by COVID-19, the virus just made it worse, and in addition elderly are the most prone with such unfortunate event. But anyway I do believe that sooner this virus will be resolved, and everyone will get recovered, and as well the crypto market, it is just right now people are in panic that is why they act recklessly.

[sheenshane]

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.

It doesn't mean this is the end of the world, there is always looking and find ways for the cure and I believed in it they will find sooner or later and as what I have heard there is already a vaccine on that pandemic decrease. Bitcoin price might be affected but it will resist after this recovery happen. Just stay strong and if you have the extra money in your pocket, it is the right time to accumulate Bitcoin as much as you can while it is very cheap and this opportunity will bring us profit.

How long BTC will go? Nobody knows but I may suggest being a brave holder and dont panic because probably some whales now are trying to ride this event.

[kripto_corumlu]

volume says this is the dip.

[Febo]

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.

If you are big holder you can simply move to China. I never see any event that is bad fro Bitcoin holders. I see plenty events that are very bad for those that love to trade Bitcoins or those that have any.

[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?

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?

Then we can see bitcoin going into bottom, but the thing with manipulators is that they really know how to timing the market very well, others might succumb, that's why we have this saying that the weak hands have been shaken. So if the media blown out this outbreak out of proportion, and whales and manipulators doing their thing so I expect that $3k lowest low again. And if you are a true believer, then that the best time to buy.

[TheAndy500]

I expected Bitcoin price drop to $5k, but I thought it would happen at the end of March or even in April. In my opinion, this short bear market will last around to the end of April and then the price will stabilize. If the price reached the level of $5k so quickly, in my opinion it is very likely that it will even reach the level of $3k within a month.

[hahay]

I think that technical analysis is currently difficult to estimate the exact price because this is the impact of coronavirus which makes things worse is very possible to happen, the decline continues and if prices continue to fall below 5k then surely a deeper decline is very likely to occur with fast, this is a threat to many holders out there and not just about bitcoin.

[figmentofmyass]

some researchers think this crash had more to do with plus token scammers unloading than the coronavirus scare and decline in world markets.

plus token wallets moved another ~13k BTC into mixers last week shortly before the crash: https://twitter.com/ErgoBTC/status/1236072541808029696

it's probably safe to assume this amplified the selling pressure.

according to Ergo, the rate of selling is decreasing significantly compared to last year. i'm not sure how many coins they still have. it would be nice to know how much reserves they have left to dump but i can't find a straight answer. this is like the mt gox bankruptcy distributions all over again.

[FanEagle]

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.

Looking at things, the price is deadly undervalued right now. We all know what will happen with the halving, we all know millions of dollars not going into market for sale anymore after that, even if miners have some stash aside we will actually have that run out one day as well, they can't continue forever like this.

Maybe the new machines makes sure the difficulty goes higher as well, maybe old machines closes so it is easier to mine but in the end we will still see some increase. Now I don't want to be a downer but when bitcoin moved from 6.5k to 3.5k back in late 2018 we did said the same things so I hope same doesn't happen. I still see the price undervalued because of halving and we will probably see over 10k very soon at latest this summer again.

[Latviand]

No one really knows, some are saying that it would fall down to $3,000 but I do hope that it won't, because although that would be a bigger opportunity to invest, but if we would be realistic and practical, such market value will give difficulties for Bitcoin to recover. But if that would come into reality, i won't hesitate to invest. It won't be a problem for me to wait for years, and others should also be, because the moment we engaged from investing into it, it should be already clear that our money is already at risk. Downfalls and uptrend makes the volatility which is in nature of all cryptos not only Bitcoin. The prices do tend to change a lot from time to time, and lack of patience would more likely drag an investor down.

I think that technical analysis is currently difficult to estimate the exact price because this is the impact of coronavirus which makes things worse is very possible to happen, the decline continues and if prices continue to fall below 5k then surely a deeper decline is very likely to occur with fast, this is a threat to many holders out there and not just about bitcoin.

If corona virus is the main player behind the decrease, then there is hope. Going back to reality, there are people who are recovering from the infection of the virus which could be a sign for a comeback regarding the issue. And it might reflect to the market prices. Also, there is an anticioated Bitcoin halving which is believed to lift the price of Bitcoin up, so maybe, holding should not be a threat for the investors. Knowing that there's hope, we should still be positive at times of such no matter how huge the decline is.

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.

If you are big holder you can simply move to China. I never see any event that is bad fro Bitcoin holders. I see plenty events that are very bad for those that love to trade Bitcoins or those that have any.

There are methods in which one could save himself from being infected. One could limit his interactions with the masses in order to not need migration to another country which would be more of a hassle. What are those events which are bad for those who trade and invest? All I see is the nature of market volatility, and nothing is new in this industry; a factor would affect the price and it can either go up or down, as simple as that.

[Republikcoin.com]

I expected Bitcoin price drop to $5k, but I thought it would happen at the end of March or even in April. In my opinion, this short bear market will last around to the end of April and then the price will stabilize. If the price reached the level of $5k so quickly, in my opinion it is very likely that it will even reach the level of $3k within a month.

I think the lowest level is the true $ 3k. but, I did not expect that. so far, the price of bitcoin has remained in the range of $ 5k, and there are no signs of going down further. I believe that many people have turned their assets into USDT because they are waiting for lower prices. Well, it's the middle of the month, if there is a decrease or increase, it can happen at the end of this month.

[criza]

As far as the pandemic might spread across borders, we still don't know how long it will affect the standing of Bitcoin in the market. This month of March, the lowest is just below the $5,000 value and is getting steady above the said price in the present. If it maintains its current price till the end of the month, we might expect a gradual increase after surviving the dump until the halving event comes.

For me, we should still hold Bitcoin because, it has still a lot of potential especially in this year of halving.

[Japinat]

I think no one knows how low bitcoin will go, but maybe the question here is what will we do if bitcoin will dump, for those believers, are you strong enough to still hold even seeing bitcoin will dump at a very fast rate.

As of now, bitcoin dump below $5000 and it seems like this is another big dump incoming.

Would you still trust bitcoin seeing what's happening now?

[Lucius]

Would you still trust bitcoin seeing what's happening now?

That's a good question, because many are in great temptation to sell and exit now when they see that BTC is fail to be safe haven or store of value in times of such a major health crisis. Some things will definitely change, people will start thinking differently and will be even more cautious when it comes to risky investments.

I still trust in BTC, but as holder in long-term. The question is when and how we can expect market recovery, and how long it will take for BTC to recover? One mitigating factor is that we have halving soon, and that the market will respond positively in Q3 and Q4 if we manage to stop the pandemic.

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.

Nonsense, how the pandemic will stop without vaccine? Unless you think everyone gets infected and then the most resilient survive? And what about the next winter season, all over again - the young survive, the elderly die and the world economy stops for a few months... COVID-19 will only go to sleep, same as flu virus, and we need effective vaccine as soon as possible.

[fabiorem]

Going to $700 right now.

[Japinat]

Would you still trust bitcoin seeing what's happening now?

That's a good question, because many are in great temptation to sell and exit now when they see that BTC is fail to be safe haven or store of value in times of such a major health crisis. Some things will definitely change, people will start thinking differently and will be even more cautious when it comes to risky investments.

I still trust in BTC, but as holder in long-term. The question is when and how we can expect market recovery, and how long it will take for BTC to recover? One mitigating factor is that we have halving soon, and that the market will respond positively in Q3 and Q4 if we manage to stop the pandemic.

I have no doubt bitcoin will recover fast this year as long as the pandemic will be contained, this is the biggest factor that hindrance bitcoin from rising, it has ruined the hype of halving already, so this is insane but I have a feeling this year bitcoin will at least rise back to $10,000.