Will Bitcoin fall bellow 3000$ and Gold price will increase?

[figmentofmyass]

Gold is also crashing hard. It is so amazing that when the crisis comes, almost everything is sold in exchange for fiat money (which we constantly describe as a scam) or government bond. The trust that rich people place on government debts are enormous

gold is only down 10% from its recent highs. BTC dropped more than 60%! brutal.

but yes, it just goes to show you how investors operate during financial crises. for as long as i can remember, gold bugs and bitcoiners alike have been predicting the next economic collapse would be followed by a rush into (respectively) gold and BTC. all those people have been proven completely wrong yet again.

in times of crisis, investors want cash and bonds. they may be a "scam" over the very long term or in the rare case of currency collapse, but investors are measuring those small risks against the risk of massive paper losses from holding risky assets. it makes perfect sense.

[Febo]

Today we are seeing huge dump in cryptocurrency that we have never seen Btc down by 27% and because of it other major crypto currency falling. This might be affected by a coronavirus and get worse in a few days. what do you think Bitcoin next stage is it below 3000$ or it will recover from today's fall?

Also, do you think the Gold price will rise significantly now?

Price of Bitcoin can go under $3000 this year and price of Gold should not raise significantly just now. It probably will next year.

[el kaka22]

Gold increased a lot in late 2019 and early 2020 so I doubt that would be one of the first ones to get back to what it was, it would probably be the last one that would go up, I see years before it can recover and have a decent profit. However, the first one to recover will always be stock market, there is trillions of dollars involved with stock market that moves every single day like crazy, when it drops so much that means a lot of people lose money but also a lot of big companies who bribe the right people also lost money so they will be saved first.

I really hope one day we can figure out how governments could help everyone like they help banks but until that moment I think stock market will recover faster than everything else, followed by crypto currencies.

[rayhanazad]

Below $3k is as hard to manipulate as above $12k. The $3k mark is the price from 1st August 2017, a historic date for bitcoin, which was when BCH had forked from it. Below $3k is the area from the other bear market, the one from 2013, and the consequent recovery and bull-run.

Those who bought above $3k will likely not sell below it, as it is too cheap.
Those who bought below $3k but didnt suffer the 2013 bear market will also not sell it, as they probably experimented the 2017 bubble and consequent crash.
Those who bought below $3k and did suffer the 2013 bear market have already sold if they wanted to. They are early adopters and if they weren't in DCA the prices from 2018 and 2019 would look high to them.

So its hard to bring the price below $3k. I read that 60 billion dollars were withdrawn from the bitcoin markets in the recent manipulation. The bearwhales will make much less if they dump it to three digits, and might not work after all.

I saw the price touching the $3000s last night, and only lasted a few minutes. People will flock to buy in.

all of your point are true but if economy get worse there's no garrenty price won't fall below 3k. let's all hope btc won't fall anymore since huge amount cash already withdrawn.

[virasog]

Gold is also crashing hard. It is so amazing that when the crisis comes, almost everything is sold in exchange for fiat money (which we constantly describe as a scam) or government bond. The trust that rich people place on government debts are enormous

gold is only down 10% from its recent highs. BTC dropped more than 60%! brutal.

I thought that people will invest in crypto currencies when there is a financial crisis but opposite of this happened. As soon as stocks and markets fell, bitcoin dropped even more than that. This shows that people still have not full trust in crypto or it can be the whales doing the manipulation as always and rest damage is done by the panic sellers.

[royalfestus]

I think today's sudden crash was just a knee-jerk response to COVID-19 being declared a pandemic.

There really isn't anything else that can be said about COVID-19 now that would produce an even worse response than we already saw today, so I think we have seen the worst of it, at least in terms of sudden severity.

We might still trend a bit lower from here since the virus is nowhere near finished, and people are looking to hold more liquid assets like cash during what idiots think is the end of the world.

Pretty stupid really, but it always happens. Smart investors know to short the market when a pandemic is declared, while the rich are going to have a field-day buying up the cheap shares and properties that result from the mass hysteria.

At the end of it, the idiots will be left poorer and the rich will be richer, as things always were.

Yes sudden crash made me worry and since there hasn't been fund any antibiotics for coronavirus it's hard to say what will happen and people are terrified about it so  there selling there asset and crypto I hope this problem resolved soon

FYI, antibiotics kill infections of bacterial nature, and since COVID-19 is a virus, there won't ever be antibiotics against it. Scientists are working on a vaccine, but it seems difficult to predict how much time is required for that (from months to more than a year). In any case, I don't think that Bitcoin will be suffering all this time and will then magically recover when the pandemic is over. People just need to calm down and realize that Bitcoin has no reason to go down, unlike many other businesses, and it'll be fine. How much time it takes for people to calm down - now, that's a question. I hope it's a matter of weeks.

The first clinical trial of vaccine should be next months or two, to ascertain a reliable vaccines will take several month but not beyond this year. Basic information about the virus is known especially the mode of infection and damage of the body system. The are no stigma to this disease, not out of sexual carelessness or infidelity. The basic challenge is way it is hidden in the body with no obvious symptoms in several months. It is more difficult to speculate and predict the price of bitcoin even after halving with the crisis.

[johnyj]

I think so far the chinese way is the best, they have been isolating EVERY CITY since February and now after more than a month, viruses are all dead, either by themselves or by killing the human they infected, and contained in hospital. If western countries take this approach, it would also stop the virus in one month

[virasog]

I think so far the chinese way is the best, they have been isolating EVERY CITY since February and now after more than a month, viruses are all dead, either by themselves or by killing the human they infected, and contained in hospital. If western countries take this approach, it would also stop the virus in one month

So indirectly you are saying that we should lock down all the cities (as virus has been spread world wide) and kill all those who are infected. You should know that the percentage of people who can die because of this virus is only 2% and the rest can be recovered. Why not take precautionary measures and heal the persons rather then killing them. Europe will never take this approach of killing the mankind.

[rayhanazad]

I think so far the chinese way is the best, they have been isolating EVERY CITY since February and now after more than a month, viruses are all dead, either by themselves or by killing the human they infected, and contained in hospital. If western countries take this approach, it would also stop the virus in one month

This not true i don't know where you hear that they killed but i have talked to friend who are from China and confirmed me that no one where killed. Yes they have locked city and treat all who are infected and it's true that they're not telling how many people actually died. my friend told me in Wohan daily 100 people died so huge number of people died because of coronavirus even in news it's only 4000+

[palle11]

Pretty stupid really, but it always happens. Smart investors know to short the market when a pandemic is declared, while the rich are going to have a field-day buying up the cheap shares and properties that result from the mass hysteria.

At the end of it, the idiots will be left poorer and the rich will be richer, as things always were.

This is really the story. A time to buy for the rich is the time the poor sell. If the poor don't sell, the rich won't see what to buy. This is a situation that keeps coming in our faces. Apart from panic, the other thing that makes the poor to always look at selling as a means to survive is lack of liquidity for investment.

[Furious 7]

There is a strong possibility that the price of bitcoin could fall to $ 3000 if this case continues for a long time because with many crises everywhere the market will not be strong enough to deal with this as most stock, mining and crypto markets have declined.
But when bitcoin goes down then I'm not sure gold will increase I think both will have the same thing in this situation gold will remain stable but the increase will not be significant.

[fabiorem]

Below $3k is as hard to manipulate as above $12k. The $3k mark is the price from 1st August 2017, a historic date for bitcoin, which was when BCH had forked from it. Below $3k is the area from the other bear market, the one from 2013, and the consequent recovery and bull-run.

Those who bought above $3k will likely not sell below it, as it is too cheap.
Those who bought below $3k but didnt suffer the 2013 bear market will also not sell it, as they probably experimented the 2017 bubble and consequent crash.
Those who bought below $3k and did suffer the 2013 bear market have already sold if they wanted to. They are early adopters and if they weren't in DCA the prices from 2018 and 2019 would look high to them.

So its hard to bring the price below $3k. I read that 60 billion dollars were withdrawn from the bitcoin markets in the recent manipulation. The bearwhales will make much less if they dump it to three digits, and might not work after all.

I saw the price touching the $3000s last night, and only lasted a few minutes. People will flock to buy in.

all of your point are true but if economy get worse there's no garrenty price won't fall below 3k. let's all hope btc won't fall anymore since huge amount cash already withdrawn.

Scrap it. When I wrote it I still was using some reasoning.
But there is no reasoning when there is a derivatives casino operating against bitcoin.
Now that the source has been identified, its much more easy to do a prediction.

We are going to zero in less than a month.
Right now its pointing to sub-$1000.

But there is no buy liquidity in that area, people who buy will have difficulty to sell.
So it will take two or three weeks to reach the two-digit area, and then its zero.

[Wilhelm]

Below $3k is as hard to manipulate as above $12k. The $3k mark is the price from 1st August 2017, a historic date for bitcoin, which was when BCH had forked from it. Below $3k is the area from the other bear market, the one from 2013, and the consequent recovery and bull-run.

Those who bought above $3k will likely not sell below it, as it is too cheap.
Those who bought below $3k but didnt suffer the 2013 bear market will also not sell it, as they probably experimented the 2017 bubble and consequent crash.
Those who bought below $3k and did suffer the 2013 bear market have already sold if they wanted to. They are early adopters and if they weren't in DCA the prices from 2018 and 2019 would look high to them.

So its hard to bring the price below $3k. I read that 60 billion dollars were withdrawn from the bitcoin markets in the recent manipulation. The bearwhales will make much less if they dump it to three digits, and might not work after all.

I saw the price touching the $3000s last night, and only lasted a few minutes. People will flock to buy in.

all of your point are true but if economy get worse there's no garrenty price won't fall below 3k. let's all hope btc won't fall anymore since huge amount cash already withdrawn.

Scrap it. When I wrote it I still was using some reasoning.
But there is no reasoning when there is a derivatives casino operating against bitcoin.
Now that the source has been identified, its much more easy to do a prediction.

We are going to zero in less than a month.
Right now its pointing to sub-$1000.

But there is no buy liquidity in that area, people who buy will have difficulty to sell.
So it will take two or three weeks to reach the two-digit area, and then its zero.

FEAR!!!

That means it's time to BUY 

[rdluffy]

Below $3k is as hard to manipulate as above $12k. The $3k mark is the price from 1st August 2017, a historic date for bitcoin, which was when BCH had forked from it. Below $3k is the area from the other bear market, the one from 2013, and the consequent recovery and bull-run.

Those who bought above $3k will likely not sell below it, as it is too cheap.
Those who bought below $3k but didnt suffer the 2013 bear market will also not sell it, as they probably experimented the 2017 bubble and consequent crash.
Those who bought below $3k and did suffer the 2013 bear market have already sold if they wanted to. They are early adopters and if they weren't in DCA the prices from 2018 and 2019 would look high to them.

So its hard to bring the price below $3k. I read that 60 billion dollars were withdrawn from the bitcoin markets in the recent manipulation. The bearwhales will make much less if they dump it to three digits, and might not work after all.

I saw the price touching the $3000s last night, and only lasted a few minutes. People will flock to buy in.

all of your point are true but if economy get worse there's no garrenty price won't fall below 3k. let's all hope btc won't fall anymore since huge amount cash already withdrawn.

Scrap it. When I wrote it I still was using some reasoning.
But there is no reasoning when there is a derivatives casino operating against bitcoin.
Now that the source has been identified, its much more easy to do a prediction.

We are going to zero in less than a month.
Right now its pointing to sub-$1000.

But there is no buy liquidity in that area, people who buy will have difficulty to sell.
So it will take two or three weeks to reach the two-digit area, and then its zero.

Ok, do you really trust in what you're saying?
Because you can bet all your money against BTC and probably became millionaire

[sujonali1819]

This is really a disappointing moment for the … we did not ready for that. If this situation only for the corona virus. Then we mind it that this starts only. There are more things left to happen. We can see more and more dumps in the future.
Before dumping to 3000$ BTC needs to cross 4200$ and 3800$ support level. And BTC is holding now 4800$ support level. So if BTC can hold this support level and can cross the 5200$ Resistance then we can see 6000$. But in this situation, it is very hard.

[sheenshane]

There is a lot of technical analysis regarding Bitcoin price predictions but as we can see there is no given accurate result on it. As we can see, not only Bitcoin here was affected by the economic crisis due to the pandemic. Also, those other stock in the market was affected by this moment and most of them had a downtrend. Yet, Bitcoin is unpredictable, probably it will go under $3k but as I can see, it will stop on $4k(I hope so) and it will resist again after this economic crisis happen.

Dont be dumb if you sell your Bitcoin at this very cheap price. Investors need to hold further if they dont want to lose their profit from investing in Bitcoin. From the start, you should know that Bitcoin is not for short term investment and also this is very volatile every now and then it will pump fast of even down.

[Wysi]

This is really a disappointing moment for the … we did not ready for that. If this situation only for the corona virus. Then we mind it that this starts only. There are more things left to happen. We can see more and more dumps in the future.
Before dumping to 3000$ BTC needs to cross 4200$ and 3800$ support level. And BTC is holding now 4800$ support level. So if BTC can hold this support level and can cross the 5200$ Resistance then we can see 6000$. But in this situation, it is very hard.

It's really hard to hold on during these situations especially for low and mid level users, I don't usually panic sell but when the value has dropped by almost half of what it was before few weeks then it's a sign to worry and it does concern me as well. But looking at current trend I am sure we might see further dumps and looking at global economical slowdown due to corona it might go either way. We need to convert our assests into stable coins for time being until we see some momentum in the market.

[AakZaki]

Has anyone ever thought if the price of Bitcoin falls below $3000 then bitcoin will be stuck because there are no more people mining because mining tools are no longer profitable?

That is a bit of my view, even though some say that people who do mining will not stop.  Then I will ask whether the person who is mining will continue to run his mining tools at a loss?  Certainly not.

IMO, this is only part of the momentary panic, where market participants make it in such a way as to collect Bitcoin.  remember halving also had a few more weeks left.  I am still confident that the price of bitcoin will soon recover, seeing TF 1D, the RSI indicator is at its lowest.

[Yamifoud]

Today we are seeing huge dump in cryptocurrency that we have never seen Btc down by 27% and because of it other major crypto currency falling. This might be affected by a coronavirus and get worse in a few days. what do you think Bitcoin next stage is it below 3000$ or it will recover from today's fall?

Other threads saying that it drops into $3,880 and you will say for $3k. This all been in market speculation and I understand that we've been doing this for a long time but ain't say that this all be done. Yes, we can't escape from any possibility but we shouldn't have also to think negatively about this. Though it looks like not a normal scenario and a little bit worrying but not could stop crypto at all. Definitely, it recovers sooner.

Also, do you think the Gold price will rise significantly now?
Note " Maybe you all know that people are buying Gold and selling their assets in China so maybe others also doing the same"

Sorry, but I was not thinking that people are now buying Gold because of China's demand. Maybe people are buying gold for their own but not to sell this time.

[fortunecrypto]

We are still in unstable market, anything can still happen but I'm glad with all that's happening in the market Bitcoin is still at $5000 mark, it's still we are better than when we are in the bear market, so far the Crypto market is very resilience, it's going to recover very fast once we see that the the world is improving in battling this epidemic.