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

[Jating]

Anything can happen this is crypto world but i think bitcoin will stable at 9k$ and will grow by the mid of july and will cross 11k$ price milestone but if it will drop to 8k$ then that will be the best time to invest in bitcoin because it will definitely increase in near future.

Indeed, an analyst on that video link I post stated that the patient holder will be rewarded and that the current drop is just temporary.  I believe that crypto price will go sideways and we will not see a dramatic increase this next week.  I just hope that it won't drop to sub $8k since it can trigger another panic selling.  The further drop may be a good chance to buy more but it will also take longer for BTC to recover and goes back to uptrend market.

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

[bitbunnny]

Anything can happen this is crypto world but i think bitcoin will stable at 9k$ and will grow by the mid of july and will cross 11k$ price milestone but if it will drop to 8k$ then that will be the best time to invest in bitcoin because it will definitely increase in near future.

Indeed, an analyst on that video link I post stated that the patient holder will be rewarded and that the current drop is just temporary.  I believe that crypto price will go sideways and we will not see a dramatic increase this next week.  I just hope that it won't drop to sub $8k since it can trigger another panic selling.  The further drop may be a good chance to buy more but it will also take longer for BTC to recover and goes back to uptrend market.

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

I sincerely hope there will be no massive panic selling. Anyway, this is the situation we've seen before and I don't expect massive negative response although some exchanges announced price drop. However, I don't think the price will fall under 8000$ and the fluctuations will continue. Volatility was never gone anyway, it just wasn't so visible.

[ethereumhunter]

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

I hope if the price is down to $8k level will not make people panic selling because that can make the price go down for more. But I hope that the price will stay at a price now or if the price is down again, it will not go too far. In these few days, it seems the price is at a sideways but we hope that the situations will change to give time for the price to increase. It seems we need more patient to wait for the price to go back and break the higher price.

[bitgolden]

I sincerely hope there will be no massive panic selling. Anyway, this is the situation we've seen before and I don't expect massive negative response although some exchanges announced price drop. However, I don't think the price will fall under 8000$ and the fluctuations will continue. Volatility was never gone anyway, it just wasn't so visible.

Yeah, looking at the price it is still holding off over $9k which is a marvel, the sellers are throwing everything they have against bitcoin to drop the price but we are still holding off very strongly. I am very proud of the buyers and bull callers because they are working and fighting hard against the waves.

Eventually the sellers will give up and the market will change, this amazing sell wave can't continue forever and can't be sustained, which means eventually buyers will become bigger and sellers will dwindle to little amounts. At that point we will see bitcoin rising, maybe not right away, maybe it will be like the current drop but reverse, maybe it will take a month to just reach $10k and it would be many more months before it reaches anywhere close to $12k, but it will happen, as long as we can continue to hold off sellers we will get to that higher levels eventually.

[ssamotoev]

Bitcoin has never lost its high price volatility. A decentralized cryptocurrency will always have it. If the price of bitcoin for a relatively long time as a whole stands still, this is most likely an exception based on the counteraction of several opposite factors.
However, no matter how the price of Bitcoin changes now - in the direction of decline or growth, good price growth expects it during the year due to a decrease in remuneration to miners in May, and if the global economic crisis comes soon, then much earlier.

Exactly, the volatility won't decrease until whole bitcoin resource is mined and most of existing coins are settled down in hands of hodlers.
Thats when bitcoin is going to become a real digital gold

[STT]

The majority of Bitcoin is mined already, the volatility is not so apparent recently as its been in a range.   I dont expect further reduction in block reward to have as much effect as previously, its already reduced most of what it had previously and each further change is far less again.    Most of the economy is about how much people pay in fees and then the usage vs speculation.   The biggest volatile element is outside the protocol because Dollar has alot of changes done to QE programs and fiscal overspending, shifts in reserve holdings alters its liquidity and value across the world its used in and thats inverse to BTC strength most likely.
   We arent back to volatile times till we lose roughly the yearly average, thats the low or regain the higher trend we had since March.    I think its most likely to reset or revisit the 200 day average out of the two choices.  For 2020 we are about neutral after alls said and done.

[pooya87]

The majority of Bitcoin is mined already, the volatility is not so apparent recently as its been in a range.   I dont expect further reduction in block reward to have as much effect as previously, its already reduced most of what it had previously and each further change is far less again.

i agree that effects of block reward halving are reduced but they are still huge if you look at how much bitcoin is being mined per day even with the reduction. it is still 900 bitcoin per day + the fees and when that finds its way to the circulation that is about $8 million per day. that is still a significant enough number to be able to affect the price.
and that is down from 1800 so basically $8 million less is being sold per day.

keep in mind that last time when reward halved the reduction was only $7500 per day (from 50BTC to 12.5BTC * price = ~600).

[ethereumhunter]

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

I hope if the price is down to $8k level will not make people panic selling because that can make the price go down for more. But I hope that the price will stay at a price now or if the price is down again, it will not go too far. In these few days, it seems the price is at a sideways but we hope that the situations will change to give time for the price to increase. It seems we need more patient to wait for the price to go back and break the higher price.

Good thing what has happened is price seems to have recovered from the below 9k level and is above 9100$ . So, if it stays above 9100$ or move slight up then it should be good. But again, if becomes volatile and fall back below 9k levels then we may see some downward movement it seems and may not be that good sign for the bitcoin holders. Though on dips it also gives an opportunity to buy more.

I think the price will be volatile, and the price will be changed again this time. But I don't know what will happen in the next month because it could be a good time for bitcoin price to lift the price and break $9,200 barrier. We have the experience to get down at $8k level, so if bitcoin can stay at a price now, the chance to increase will be wide open. Next month can give us new hope to see the price to go to the high price, and we can only prepare to buy more at this time or to wait for a while to sell at above $9,200.

[el kaka22]

I understand that volatility is scaring people but guys you have to understand without volatility there is no proper trading, when there is no proper trading there is no proper traders and when there is less traders that means there is less attention. We need as much attention to bitcoin as we can, we can't afford to actually let it be for a long time, we need it to get as high as possible without really risking any lack of mainstream media coverage and other stuff.

If bitcoin is $9k for 4 months, that is not news worthy, that is not attention worthy and that is not trade worthy, all of which hurts us and price could go down. This is why we need volatility, even if that means bitcoin going to $5k first and slowly going over $10k, that is still fine by me because that means there is still some people trying to do something with it.

[elisabetheva]

I understand that volatility is scaring people but guys you have to understand without volatility there is no proper trading, when there is no proper trading there is no proper traders and when there is less traders that means there is less attention. We need as much attention to bitcoin as we can, we can't afford to actually let it be for a long time, we need it to get as high as possible without really risking any lack of mainstream media coverage and other stuff.

If bitcoin is $9k for 4 months, that is not news worthy, that is not attention worthy and that is not trade worthy, all of which hurts us and price could go down. This is why we need volatility, even if that means bitcoin going to $5k first and slowly going over $10k, that is still fine by me because that means there is still some people trying to do something with it.

I agree that for the past few months the move to bitcoin has always been not far from $ 9K, even if it ever broke through $ 10K it did not last long and returned to a price of around $ 9K as well. the possibility of bitcoin going down is still potential because it is expected that the rise will start to be excited towards the end of the year. but after passing $ 10K and continuing a bit longer then it is certain that bitcoin will start to increase until the end of the year and even peak in 2021. considering the past halving experience is after a year later then new bitcoin reaches its peak.

[Yamifoud]

Bitcoin has a stabilizing movement from $9k to $10k after a huge drop last March. For that long, I'm really confident that it continues to move high rather than to drops back again and looking forward to surpassing $10k at this quarter.

Anyway, we can't neglect such volatility effect and it will certainly affect the trend but couldn't just a reason alone to think about the declining sentiment to come few days from now? Well, that gonna be possible but looking at how the market behaviors it looks like in a few months? We can tell that we have a big chance to see the price rallying high than to decline below $9k.

[Jating]

Anything can happen this is crypto world but i think bitcoin will stable at 9k$ and will grow by the mid of july and will cross 11k$ price milestone but if it will drop to 8k$ then that will be the best time to invest in bitcoin because it will definitely increase in near future.

Indeed, an analyst on that video link I post stated that the patient holder will be rewarded and that the current drop is just temporary.  I believe that crypto price will go sideways and we will not see a dramatic increase this next week.  I just hope that it won't drop to sub $8k since it can trigger another panic selling.  The further drop may be a good chance to buy more but it will also take longer for BTC to recover and goes back to uptrend market.

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

I sincerely hope there will be no massive panic selling. Anyway, this is the situation we've seen before and I don't expect massive negative response although some exchanges announced price drop. However, I don't think the price will fall under 8000$ and the fluctuations will continue. Volatility was never gone anyway, it just wasn't so visible.

None so far, but the price just keeps on dropping, and we are seeing $9k to be a big support right now. And it keeps on bouncing but not really getting over $9300, so obviously that is the big resistance that we need to overcome.

It could be that the price is really stabilising as others have been saying, but I do a believed that a break out run will soon happen once we enter September-December.

[Becky666]

I did not see volatility now but maybe in the future. Bitcoin has been moving in side way since the halving. I do believe that the uncertainty infect of covid19 has made investors not to have interest on the market.

But there is bubbles in volatility these days, we have seen many fluctuations in the cryptocurrency market and this has actually helped many traders save some stash. According to some traders: "there is gold in bitcoin volatility". For those who are serious minded traders, this should be the most favourable seasons for traders to make some good profits from bitcoin volatility. Imagine bitcoin dropped to $8730k and then moved up again to $9k+. Though the covid-19 impacts has come and gone, the cryptocurrency market still surpass the stock market and others in terms of growths.

[Juggy777]

Anything can happen this is crypto world but i think bitcoin will stable at 9k$ and will grow by the mid of july and will cross 11k$ price milestone but if it will drop to 8k$ then that will be the best time to invest in bitcoin because it will definitely increase in near future.

Indeed, an analyst on that video link I post stated that the patient holder will be rewarded and that the current drop is just temporary.  I believe that crypto price will go sideways and we will not see a dramatic increase this next week.  I just hope that it won't drop to sub $8k since it can trigger another panic selling.  The further drop may be a good chance to buy more but it will also take longer for BTC to recover and goes back to uptrend market.

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

I sincerely hope there will be no massive panic selling. Anyway, this is the situation we've seen before and I don't expect massive negative response although some exchanges announced price drop. However, I don't think the price will fall under 8000$ and the fluctuations will continue. Volatility was never gone anyway, it just wasn't so visible.

None so far, but the price just keeps on dropping, and we are seeing $9k to be a big support right now. And it keeps on bouncing but not really getting over $9300, so obviously that is the big resistance that we need to overcome.

It could be that the price is really stabilising as others have been saying, but I do a believed that a break out run will soon happen once we enter September-December.

When I had posted this post there was lots of uncertainty but luckily bitcoin has managed to stay in the $9k levels, and since half the year has passed away I found some interesting predictions all of which were done by analysts and all turned out to be wrong.

Some famous ones:

1) Thomas Lee claimed that Bitcoin prices will rise by 197% on Feb 5th 2020, and instead of rising bitcoins prices crashed by 40%.

2) Timothy Peterson, claimed that Bitcoin was close to $75000 on June 8th 2020, and we all know where bitcoin prices were in June don’t we.

Hence as the experienced members of this forum often say don’t read much into analysts statements, and instead focus on your own research as these analysts just can’t get it right when it comes to bitcoin.

Source:

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-outlook-a-recap-of-failed-btc-usd-predictions-in-2020-202007031320

[Sebas.tian]

Bitcoin has a stabilizing movement from $9k to $10k after a huge drop last March. For that long, I'm really confident that it continues to move high rather than to drops back again and looking forward to surpassing $10k at this quarter.
°°°°°

Actually, bitcoin stability from January has actually landed the price to a stable one, compared to other years which we experienced different things from what we have right now. What I see as the Major contributor to this dropped was covid-19, during this time bitcoin has remains down and unpredictable. Bitcoin would gotten the chance to have a bull run if this pandemic wasn't available. Sincerely, the price of Bitcoin will remains bearish till December 2020.

[Untomabur]

if according to the current experts Bitcoin is likely to go down,
I am also still waiting when the price of Bitcoin to the $ 8000 and will buy it

[romero121]

Bitcoin has a stabilizing movement from $9k to $10k after a huge drop last March. For that long, I'm really confident that it continues to move high rather than to drops back again and looking forward to surpassing $10k at this quarter.
°°°°°

Actually, bitcoin stability from January has actually landed the price to a stable one, compared to other years which we experienced different things from what we have right now. What I see as the Major contributor to this dropped was covid-19, during this time bitcoin has remains down and unpredictable. Bitcoin would gotten the chance to have a bull run if this pandemic wasn't available. Sincerely, the price of Bitcoin will remains bearish till December 2020.

Agreed, the price of bitcoin was predicted to mark a big growth by now. Due to the pandemic the crypto market has slowed down, but with the stocks and other financial sectors experience a major blow.

With the present market situation the price could've fallen low to $8000 by now, but the price has set to move between $9200-$9500 for a long. Upon this there is more chances for the price to reach $10000 over the months.