Will Bitcoin reach $ 3884 again?

[Farma]

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000  will get their predictions right

I also feel like that the price will not be further than $ 4000. in addition, at this time the price is slowly growing, and I am pretty sure that the price of bitcoin can reach the price of $ 7000 earlier this month. to be honest, I feel that price recovery will start now.

[exstasie]

This is revealing - https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

"In the 48 hours during and immediately following the drop, we saw record-breaking numbers compared to our last 12-month averages:
5x increase in cash and crypto deposits, totalling $1.3B
2x increase in new-user signups
3x increase in trading users
6x increase in total traded volume
But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility."

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

Yup, lines up with my thinking at the time:

The prospects for a full on V-bottom look decent. We saw insanely high volume exchanged. Capitulation occurred for sure and shorts piled on massively. We just need bulls to follow through now and trap sellers below $6K.

Based on volume and magnitude, this selloff looks like the January 2015 capitulation. A true old school BTC capitulation. I hope nobody around here managed to sell in the $3,000s.

Capitulations like that don't come along but once every few years, like you said. And like any good V-bottom, the market never retested the lows. I honestly don't think we're going to see the $3,000s again.

[JL0]

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000  will get their predictions right

I also feel like that the price will not be further than $ 4000. in addition, at this time the price is slowly growing, and I am pretty sure that the price of bitcoin can reach the price of $ 7000 earlier this month. to be honest, I feel that price recovery will start now.

Masterluc's last TA saying that we will go lower. I also feel like you guys too but let's see

[michellee]

Well, although it is hard to reach $3,884 again, it could be possible to happen as we know that the crypto market has volatility. If that happens, I guess we need to be ready to buy at that price. But I hope that it won't happen because we already reach the lowest price before, and we hope that the price can increase and break the next high price.

[smyslov]

So far it is safe at $6700 but there is no guaranty on our current situation, this Covid crisis is wreaking havoc on everything, but with the news that some countries have able to contain it and news of the vaccine, the market has stabilized a little bit, what's going to happen in the next few weeks will have an impact on the market, so we are going to stay tune.

[gentlemand]

It could happen though as anything is possible in crypto, whales are just looking for the right opportunity, and if it dump then they'll start making money again. That information you've share is pretty amazing, it only tells that there's a lot of money here in crypto and it will not die, and every time it will dump it could easy bounce back with people pumping it every time it will happen.

It's about the magnitude of the dump. Things of that size and violence don't happen time after time. Like I said it could get back to that price out of sheer boredom and gloom but that would be after weeks, not a few hours. I don't think it can manage it in similar circumstances.

It's just the same as a blow off top except in reverse and the tops don't come around very often either.

Yup, lines up with my thinking at the time:

Nicely called.

[Darooghe]

I'm skeptical it will reach 4,000 US dollars as the market seems to violently reject the price when it hits 6,000 US dollars when looking at the small timeframe, still a possibility though, but I won't bet on it. There are many FUD now and many people are pulling their money out for fiat. You can now buy and be perfectly happy knowing you can only go up from here unless it keeps dropping. In that case, buy what you can on a daily or weekly basis and stop when it starts going up on a daily chart.

[FanEagle]

It is quite obvious that people wanted a piece of the pie because everybody knew that bitcoin price was way more than 4k yet the price went under it so everybody rushed to get more and more. I didn't know 1.3 billion went into it that quickly, I hope not all of them bought because I would like to imagine it takes a lot less amount to get bitcoin over 6k then 1.3 billion however if it really requires that much that means we gonna need a lot more money to actually increase it over 10k as well.

On that note it baffles me that maybe there was more sellers as well? I mean we have seen over 10k just this year in 2020 which tells me if it took 1.3 billion from 4k to 6k, does that mean we spent a lot more than 1.3 billion to go over 10k this year? I doubt that honestly.

[Janation]

Well, although it is hard to reach $3,884 again, it could be possible to happen as we know that the crypto market has volatility. If that happens, I guess we need to be ready to buy at that price. But I hope that it won't happen because we already reach the lowest price before, and we hope that the price can increase and break the next high price.

I think future dumps would be inevitable.

There are those people that hold Bitcoin that may forcibly sell in order to buy essentials for their family to use for the weeks of quarantine. This kind of pandemic will be longer than we thought and those people in countries that are majorly affected by this pandemic would be really dumping their Bitcoins for their safety. There is a possibility that it will still dump but let's just keep in our minds that it is a chance and not the time to spread FUD.

[Botnake]

Well, although it is hard to reach $3,884 again, it could be possible to happen as we know that the crypto market has volatility. If that happens, I guess we need to be ready to buy at that price. But I hope that it won't happen because we already reach the lowest price before, and we hope that the price can increase and break the next high price.

I think future dumps would be inevitable.

There are those people that hold Bitcoin that may forcibly sell in order to buy essentials for their family to use for the weeks of quarantine. This kind of pandemic will be longer than we thought and those people in countries that are majorly affected by this pandemic would be really dumping their Bitcoins for their safety. There is a possibility that it will still dump but let's just keep in our minds that it is a chance and not the time to spread FUD.

I don't think people will dump because they panic and looking for safety, maybe the fool or the weak hands but there are smart investors here, they are willing to take bigger risk and they are gambling with the crypto market.

in fact, Warren Buffett once said that bitcoin is a gambling device, so anyone who invested here are gamblers and can afford to lose their investment.

https://www.cnbc.com/2019/05/04/warren-buffett-says-bitcoin-is-a-gambling-device-with-a-lot-of-frauds-connected-with-it.html

[Farma]

Masterluc's last TA saying that we will go lower. I also feel like you guys too but let's see

Well, actually I don't really care about what people think about prices. I just can't wait to see that their predictions are wrong. however, I was one of those who supported the rise in the price of bitcoin, even when things were still pretty bad.

[tamim101001]

Bye the way,

Actually, I am waiting for $4k.
 I need to hold some btc. I think if btc reach 4k then it’s my golden time to buy. 

[kotajikikox]

202003106

BTC: Short to $ 3884
ETH: Bearish $ 87
XRP: Bearish to $ 0.1
BCH: Bearish to $ 135
BSV: Bearish $ 80
LTC: Short to $ 24.79

Overall market: bearish

Assets plunged last week:
Bitcoin (-42%), oil (-24%), gold (-8.67%), Italian FTSE MIB (-36.36%), US stock Dow Jones (-16%)

Rising assets last week:
Natural gas (8.11%), tea (8.19%)
Rhodium (13%, up 220% in 2019 for electric vehicles)

Am still waiting for another dump because i missed the last one(but i bought in 4k level) but thats not enough when i can purchase in much low price.

Bye the way,

Actually, I am waiting for $4k.
 I need to hold some btc. I think if btc reach 4k then it’s my golden time to buy. 

it does happen already weeks ago and now since we are nearing 7k level again i believe that there is no 4k happening before and after the Halving.

[ethereumhunter]

Bye the way,

Actually, I am waiting for $4k.
 I need to hold some btc. I think if btc reach 4k then it’s my golden time to buy. 

I am sure people wants to buy at that price

But we don't know if the price can go down until that level or not. But if it's happening, then that will be the best time for you and us to buy a lot of bitcoin if you have a lot of money.

But we can enjoy the price now than to wait for a long time to see that low price.

[Smitty Werben Man Jensen]

it looks like if you take part in the whale game, then the price of Bitcoin I am sure will not touch $ 3800 again, because Bitcoin has returned to the bullish trend line, but there is still a possibility of $ 1000- $ 3000, I think 20% is just that possibility, my suggestion is to prepare some money for buy at that level

[exstasie]

Actually, I am waiting for $4k.
I need to hold some btc. I think if btc reach 4k then it’s my golden time to buy. 

Good luck. Everyone wants to buy $4K now.

If the market breaks down from here, the upper $4,000s still look possible. If the rally continues to $8K+, then the best bears can probably hope for is $5K-$5,500 when it eventually does break down.

The March capitulation closely resembles the one from January 2015. In similar fashion, it probably won't go anywhere near the $3,850 low again. Bottom sellers will be punished.

[Wexnident]

Expect another panic, and you'd expect another $4k. The situation has pretty much stabilized already, much so that you can actually see every market slowly, but surely recovering from the massive drops that happened in the past few weeks. I'm honestly also looking forward to another drop since I missed the last one, but I don't want another panic to ensue in the public.

I'm skeptical it will reach 4,000 US dollars as the market seems to violently reject the price when it hits 6,000 US dollars when looking at the small timeframe, still a possibility though, but I won't bet on it. There are many FUD now and many people are pulling their money out for fiat. You can now buy and be perfectly happy knowing you can only go up from here unless it keeps dropping. In that case, buy what you can on a daily or weekly basis and stop when it starts going up on a daily chart.

Well, many are reacting to drops ever since the last drop after all. They are probably fearing that they may miss out on profits if they actually missed out the $6k price. Especially if you saw how the $3.8k price bounced back quite quickly. It's also quite scary buying it right now, since the after effects of the fear are pretty much still in the air, plus, the major cause of that fear is still pretty much out there. No solution has been found tbh, and I believe this peace is pretty much just a temporary one.

[bakasabo]

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000  will get their predictions right

I would not be that sure that the price has stabilized and it will not drop to $4000 again. The sudden price drop in the middle of March could easily be repeated. Imagine if the lock-down period will be prolonged and how world economy would suffer from that. Im sure it will pull the price down again. What is the lock-down period in most of the countries? From middle April to May ? Expect price drop or stagnation starting from that period.

[aakashsangwan]

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000  will get their predictions right

I would not be that sure that the price has stabilized and it will not drop to $4000 again. The sudden price drop in the middle of March could easily be repeated. Imagine if the lock-down period will be prolonged and how world economy would suffer from that. Im sure it will pull the price down again. What is the lock-down period in most of the countries? From middle April to May ? Expect price drop or stagnation starting from that period.

I am from India and even though the number of covid-19 positive cases are not in extreme range but what it feels like here that the lockdown period is definitely going to extend till the start of the month of June and till then economy will remain on halt, but also we should consider the fact that the bitcoin block reward halving is also going to happen and that can contribute to the rise in the price of bitcoins, so I also don't believe that a bearish cycle can start now.

[buwaytress]

Good luck. Everyone wants to buy $4K now.

If the market breaks down from here, the upper $4,000s still look possible. If the rally continues to $8K+, then the best bears can probably hope for is $5K-$5,500 when it eventually does break down.

The March capitulation closely resembles the one from January 2015. In similar fashion, it probably won't go anywhere near the $3,850 low again. Bottom sellers will be punished.

Count me in on that everyone. I know the halving's got to have at minimum psychological impact, even if I myself said everything's been priced in for years, it's just the condition of the market now and the accompanying economic crisis that's suddenly shone a light onto Bitcoin for a lot of people who now maybe see things through a different lens. Still hoping for one more significant dip but I don't think the gods will be that kind to us.