Bitcoins can hit either $8k or bounce back to $10k - volatile times are back?

[Juggy777]

It was just few days ago that we were witnessing bitcoin prices trade between $9500 -$9900 levels, and there was a strong feeling among us that Bitcoin prices would soon cross $10k levels and stabilise there, but sometimes we all tend to forget that bitcoins prices are never stable and today when it slipped towards $9k, people began claiming that it’ll drop to $8k levels.

However those people will be disappointed to know that bitcoin prices are not dropping to $8k levels, in fact they’re already rising on preev and currently bitcoins are trading at $9100 levels.

The moral of this story is not to sell your bitcoins because it’s falling or because people are claiming that it’ll fall, rather one should assess the situation and then hodl on to their coins, as they’ll be rewarded in the long run for holding their bitcoins.

Lastly what are your thoughts on the current price situation, as I feel that bitcoin prices won’t drop below $9k levels, but what do you’ll think is it possible that we shall see bitcoin prices drop below $9k levels?.

Sources:

https://cointelegraph.com/news/bitcoin-price-dips-below-9k-amid-heavy-stock-market-futures-losses

https://www.ccn.com/traders-explain-why-you-should-be-long-term-bullish-bitcoin/

[crwth]

For the recent price changes that have happened, I'm not panicking at all with the recent dump because I think it's a correction that would come back up to $10000 and beyond (hoping for this)



Checking the price trend, the recent bounce is definitely what bullish-bias people are hoping for. I'm one of them, hoping that it would come back above $10000. The obvious move for me right now is accumulating more BTC.

[exstasie]

Lastly what are your thoughts on the current price situation, as I feel that bitcoin prices won’t drop below $9k levels, but what do you’ll think is it possible that we shall see bitcoin prices drop below $9k levels?.

I'm getting more bearish now that price is below the 50-day MA. That's been a very reliable trend indicator since late 2019: https://bitcointalk.org/index.php?topic=5196072.msg54622389#msg54622389

Price is also testing the lower daily BB, and the bands are very tight, meaning a breakout is coming soon. If the recent low at $8,900 doesn't hold then we could see some major downside volatility. I get the impression there is a lot of latent sell pressure that will enter if stock markets take a dump this week. Watching the Dow and S&P 500 closely.....

[Coin_trader]

For the recent price changes that have happened, I'm not panicking at all with the recent dump because I think it's a correction that would come back up to $10000 and beyond (hoping for this)



Checking the price trend, the recent bounce is definitely what bullish-bias people are hoping for. I'm one of them, hoping that it would come back above $10000. The obvious move for me right now is accumulating more BTC.

A close below 8900 level is a warning for a price plunge. The 8900 support is a bit strong right now because it bounce back quickly once bitcoin hit it today. I hope that support will hold within this week and the volume build up again in favor of bulls. It is too early right now to predict the direction of BTC since there is no significant volume that can dictate the price movement. I will be happy to see a huge buy volume @9000 level tomorrow or else a pond days happened again.

[palle11]

For the recent price changes that have happened, I'm not panicking at all with the recent dump because I think it's a correction that would come back up to $10000 and beyond (hoping for this)



Checking the price trend, the recent bounce is definitely what bullish-bias people are hoping for. I'm one of them, hoping that it would come back above $10000. The obvious move for me right now is accumulating more BTC.

A close below 8900 level is a warning for a price plunge. The 8900 support is a bit strong right now because it bounce back quickly once bitcoin hit it today. I hope that support will hold within this week and the volume build up again in favor of bulls. It is too early right now to predict the direction of BTC since there is no significant volume that can dictate the price movement. I will be happy to see a huge buy volume @9000 level tomorrow or else a pond days happened again.

Anyway, price dropped sharply from last week falls , down to $9,000 but it has pumped back to $9,245 currently. The daily outlook still looks bull, if it ends this way for today, we might see some upwards rally this week.

[Upgrade00]

The moral of this story is not to sell your bitcoins because it’s falling or because people are claiming that it’ll fall, rather one should assess the situation and then hodl on to their coins, as they’ll be rewarded in the long run for holding their bitcoins.

An investor should not be too concerned about daily price movements, especially when you are in for the long-term. The only time you incur a loss is when you panic sell, the fundamentals of Bitcoin is solid support to ensure the price rises again.

The market volatility is again growing, and the trading volume is still low, so we could see more quick movements over the next couple of days.

[Harlot]

Bitcoin just lost around 600$ of there value and then suddenly a lot of people are getting bearish sentiments with BTC? We are still in the 9,200$ level and there are no signs of reversals happening which is neither good or bad since this just shows that Bitcoin is still consolidating, other than that the volume pretty much tells us that there is no "panic" happening in the market as it is really weak showing no signs of support on a potential downtrend. In this times where 200-600$ price movements happen with Bitcoin I won't really jump into any kind of conclusion that Bitcoin is indeed moving upwards or downwards.

[BrewMaster]

if one side is $8k then the other side of the possibilities is $11k not $10k. we are seeing fluctuations between $9k and $10k already so it anything were about to change that can go both ways not just one. also a couple of days ago when the trend was up nobody was speaking of $11k which is funny because it was exactly the trend we are seeing today but in the opposite direction and here we are talking about $8k...

[sunsilk]

I learned from my experience that it's not good to sell whenever you see bloods. If you do that, it indicates that you're panicking. Create a plan and price you really have no problem in selling and don't sell until it goes there. And you might buy as well while going to that point of selling you have set when you see price going down.

Reviewing the price of bitcoin since March this year, we should be still happy to see if it goes $8k. Whenever bitcoin price plummets, we'll always see people claiming to be bearish and when it goes up, we'll see them vice versa.

[fabiorem]

If it breaks $8900, I think it will pierce straight to $7k, maybe $7400-7600 area.

[beerlover]

Volatile times were never really gone too far, we just had a past 4 months where price moved from $9k to $3.6k at bottom to back to over $10k and it all took many tries as well, it wasn't like direct movements, it was usually going up and down to reach those levels as well and now we are around at $9k once again like we started.

So, we can't really say that volatile times were gone, they were always here, it is here right now too, we just didn't really get what we are going through while it happened and wasn't aware of it. Now that it happened people are realizing what is going on once again. Hopefully volatility continues because when the price moves like this traders are more interested and that means more adoption and more people talking about bitcoin as well.

[DonQuijote]

if one side is $8k then the other side of the possibilities is $11k not $10k. we are seeing fluctuations between $9k and $10k already so it anything were about to change that can go both ways not just one. also a couple of days ago when the trend was up nobody was speaking of $11k which is funny because it was exactly the trend we are seeing today but in the opposite direction and here we are talking about $8k...

10,000 is a strong resistance, in fact 10,400 would be a "moon point", we dont need 11k because we have info with only 10.4k

[Oasisman]

Seeing Bitcoin having a lot of swings in a certain region for about several weeks now, from $9,000 to $10,000. I think that indicates that the price may break loose of the resistance level soon, and If it drops significantly, I don't see any reasons to sell during blood bath. That'll only make you lose some instead of gains. This has been going on for years now, and there are still people who has not learned from this.

Anyway, Bitcoin doesn't seem to be falling below $9,000 level. It had so many attempts from the last few days/week. It went as low as $9,100, but didn't get even lower than that level. Bitcoin is back up again at $9,500.

[bitbunnny]

The moral of this story is not to sell your bitcoins because it’s falling or because people are claiming that it’ll fall, rather one should assess the situation and then hodl on to their coins, as they’ll be rewarded in the long run for holding their bitcoins.

An investor should not be too concerned about daily price movements, especially when you are in for the long-term. The only time you incur a loss is when you panic sell, the fundamentals of Bitcoin is solid support to ensure the price rises again.

The market volatility is again growing, and the trading volume is still low, so we could see more quick movements over the next couple of days.

Volatility has actually never gone, it's always present but more or less visible, depending on how much price is fluctuating.
I agree that is not so.important for long term investors however volatility is something you always need to keep in mind. For daily traders it's totaly different story, their profit depends on volatility.

[carlfebz2]

For the recent price changes that have happened, I'm not panicking at all with the recent dump because I think it's a correction that would come back up to $10000 and beyond (hoping for this)

Checking the price trend, the recent bounce is definitely what bullish-bias people are hoping for. I'm one of them, hoping that it would come back above $10000. The obvious move for me right now is accumulating more BTC.

Its always been like this and this is the hard part if we are witnessing a sideways movement on the market which we cant decide if it would tend to follow up TA's or would definitely break it in an instant.

Market is very unpredictable but basing on the analysis you posted.It do really shows that upward trend.If it wont able to break up those supports then we might see 5 digit price earlier.

For now in talks of volatility then i can say that it isnt really that much in fast few days but in last 2 days i can say that i do made up some money specially on the current price decrease.

[Kelvinid]

If it breaks $8900, I think it will pierce straight to $7k, maybe $7400-7600 area.

There is a possibility that it dumps below $9k but quite not to see a huge drop either and see a price below $8k.
If we look into the current market flows, the trend is still strong that giving us hope for the price to surge high rather than to fall. But of course, all of these things remain uncertain to the reason that we live in a volatile and unpredictable market. But believing how halving could give an impact on the market, I should have to keep optimistic and remain to be bullish.

Once we jump over $10k again, I have to think for Bullrun to start similar thing when 2017 is in the bullish.

[Darooghe]

The volatility of bitcoin's price and all cryptocurrencies is their nature. There are always pumps and dumps in the cryptocurrencies market. So knowing the price if it would go high or down is really hard. We recently had a slight price fall and bitcoin fell to $9,300. This was an opportunity for a small enter and exit but I decided not to use this occasion because I thought that maybe the next movement after this would be still downward not upward. I think This month bitcoin tends to fluctuate between $9000 and $9900 and this $900 movement is the room to play in the market.

[Lucius]

I may understand that some beginners wonder how it is possible for a price to change by $500 or $1000 in either direction in one day, but I am really surprised that some older members of this forum are only now discovering volatility of Bitcoin. The cryptocurrency market is very small if we talk about total value of Bitcoins which is now around $175 billion, with less than $100 billion in altcoins. For those who have fiat + BTC it is extremely easy to manipulate such a market, especially if bots are used on several major crypto exchanges.

Little people are just ordinary observers, whether tomorrow's price will be $8k or $10k is more or less irrelevant. Those who would sell are waiting for ATH, those who would just invest are praying for another big drop, those who want BTC at zero are praying for the second and third wave of the pandemic or the third world war...

[crwth]

Its always been like this and this is the hard part if we are witnessing a sideways movement on the market which we cant decide if it would tend to follow up TA's or would definitely break it in an instant.

This is what I would want, the side market first because of my bot, the market making bot, and it will utilize this trend and would continue to trade and make rebates.

Market is very unpredictable but basing on the analysis you posted.It do really shows that upward trend.If it wont able to break up those supports then we might see 5 digit price earlier.

When I posted this it was around $9100~$9200 range and now we are in $9500 which was successfully predicted. Maybe will be up to $10000 in no time. Hopefully.

For now in talks of volatility then i can say that it isnt really that much in fast few days but in last 2 days i can say that i do made up some money specially on the current price decrease.

If you are comparing it to historical movements in BTC, it's definitely not the most volatile but taking advantage of that is our goal for sure.

[sunsilk]

I learned from my experience that it's not good to sell whenever you see bloods. If you do that, it indicates that you're panicking. Create a plan and price you really have no problem in selling and don't sell until it goes there. And you might buy as well while going to that point of selling you have set when you see price going down.

Reviewing the price of bitcoin since March this year, we should be still happy to see if it goes $8k. Whenever bitcoin price plummets, we'll always see people claiming to be bearish and when it goes up, we'll see them vice versa.

Selling for a lower price that your bought price is really not good, it can make you lose money so don’t be like that. You can at least set your cutting loss to which is very normal for a trader but if you do play long, then don’t need to sell at all instead if there’s a more cheaper price you’ll buy more so the average cost will be lessen.

We heard a lot of predictions, it can be good or bad to us but we should still analyze the market because most of those predictions are just hyping you out and might take you out of your strategies. If there’s a good price to buy, don’t hesitate to go in.

As I'm telling, it's my experience and I'm just sharing what I have experienced before and probably this isn't just my personal experience because many investors experienced the same. Moving to the present, selling at any price depends now on our needs and satisfaction.

It's not good to be greedy at all because it can lead to further loss. With those predictions that we're hearing as long as it's maintainable and reachable like $8k or $10k - $10500, we have to keep it whichever your plan is.