Will bitcoin dump below $30,000 this week?

[stadus]

It's been bearish for bitcoin thus far, and now it slowly going down again. We hit $30k in the past few days and it seems we are going back to that level again. The price is currently at $32,900 per http://preev.com/.. and the price is descending.

What's your take on this, will this dump continue in the next few days or bitcoin will bounce back strong going back to $60,000?

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[somac.]

Nobody knows.

But bulls will probably be looking for a bounce this week. If that doesn't happen, I'm sure a lot will be thinking long term bear market.

However, 2013 had a large drop mid cycle, so anything is possible.

All I know is that this would be a good time for any institutions that were thinking of buying to buy.

[Taskford]

It's been bearish for bitcoin thus far, and now it slowly going down again. We hit $30k in the past few days and it seems we are going back to that level again. The price is currently at $32,900 per http://preev.com/.. and the price is descending.

What's your take on this, will this dump continue in the next few days or bitcoin will bounce back strong going back to $60,000?

Possibly the support of bitcoins at that level is not so high so I wonder if many people will place their order seeing the marker is keep collapsing. Hopefully the $30k will not be break since this scenario will create panic to those people who's not prepared for the bear market crash.

Hoping to see a bounceback and will see if bitcoin would reach at $60k.

[Raflesia]

There is still a long way for bitcoin to return to the $60,000 level. It is difficult for him to get through this challenge. I think the decline will continue in the next few days and we will see what the bottom price will be because this dump will definitely continue until time has not been determined.

Because Dump has a lot of bad news that continues to haunt investors so that the market becomes an unbearable bubble even this panic continues to be because there will be many cuts at times like this, it's no wonder this dump will definitely continue to tail at the end where we will know from history before him.

[Woodie]

I don't think so!

 looking at the charts you can see that there is a lot of support around the 30000 area possibly a lot of pending buy orders waiting to be filled around this area too to take price on the upside.

FYI a drop below the $30K would change market sentiments to be bearish.

[Oceat]

If we based the pattern of the chart from the start of Bitcoin we will see that the pattern is like a wave but is moving up. So there's still a huge chance that we aren't going to go bearish yet this year since a drop below from $30k support will surely trigger a bearish trend. There's a lot of tension in the market already and the market is congested also with these panic sellers so if there's another tension going to happen it will eventually lead to bearish market.

I am very bullish so there's still a high chance there's a new investors that's going to break the $64k ATH, I hope I am right.

[BrewMaster]

i don't think we can expect a bounce back anytime soon because of the way the dumping is continuing and people are panicking these days. even if the dumping starts most of the same newbies are too afraid to buy back and the whales would need time to accumulate more bitcoin at these super cheap prices so it could easily take a month before we can see the real price of bitcoin again above $60k.

[Poker Player]

I am optimistic that it won't go beyond this week and that we won't go below $30K, but there is no way of knowing. I think that the drop now is partly due to the low volume this weekend and that we are at prices that, whoever knows the instrucinsic properties of Bitcoin and its history, knows that they are a bargain. I therefore believe that we should not have long to hit the bottom and from there start to recover.

[STT]

Its rejected attempts to break the downtrend so far, Monday is a good day to see if it can start a new trend having finished the last weekly bar it can mean selling over extends and we get a bounce.



Just waiting for it to break this or the 2 day average and start to confirm above while heading to test 200 day average for example.     I do still consider this a flush, some of it is forced by China wanting to control capital flow within their population, because of the size of the country it would be enough to tip us into a series of sell patterns downwards.

[Oilacris]

It's been bearish for bitcoin thus far, and now it slowly going down again. We hit $30k in the past few days and it seems we are going back to that level again. The price is currently at $32,900 per http://preev.com/.. and the price is descending.

What's your take on this, will this dump continue in the next few days or bitcoin will bounce back strong going back to $60,000?

No one knows because no person on this world does have the crystal ball to see on what would happen in the market as of next minute or hours or days or months or years.

We have seen some several sentiments that we do presume out that the main reason of this dump and the rest is still unknown and this had been always the characteristic

on where the market is way too unpredictable.I have already accumulate on this price point and playing up with the current price swings even in bouncy moments. 

[STT]

There is no certainty but we can assess a good level of probability to moves, its usually quite simple observation in a repeatable trend to selling or buying.  The part that confuses often is the different time frames that may be intra day, over a week or even a year or so.   Its not random, I also dont take the news too seriously especially flashy head lines from important people who can sell newspapers but really arent going to alter factors in crypto itself.    Theres two main points to observe, the dollar and usage of Bitcoin itself then the rest is speculative flows in and out.

[iamsheikhadil]

After setting a ATH of $60k, I don't think it can plummet very very much, but if it does, I'm sure the hype will be so much that investors will jump in and increase in demand equals you know = price hike, and we might then see it again bouncing back to the ATH or breaking it even. But, it's all just theory, and not classical, but quantum one

[South Park]

It's been bearish for bitcoin thus far, and now it slowly going down again. We hit $30k in the past few days and it seems we are going back to that level again. The price is currently at $32,900 per http://preev.com/.. and the price is descending.

What's your take on this, will this dump continue in the next few days or bitcoin will bounce back strong going back to $60,000?

We will have to wait and see, it seems the whales defended the 30k level a few days ago and it is possible they are going to do this again, however taking into account the extreme fear that we are seeing in the market they might as well let it crash even further and get even more coins for their fiat, which is the whole point of the current correction, what I am more interested to find out is if this is indeed the end of the bull market or if this is just a monster correction and then the bull market resumes its upwards trajectory.

[Furious 7]

We are in a bearish phase and should prepare for an unstable market with a continuous decline and it is undeniable that the current fall in prices will be more than what is expected to survive, so for me it is very difficult to predict that bitcoin can return to its original price because we have passed a fairly high ATH period and that's when bitcoin slumped due to FUD.

And I cannot conclude about this prediction even the experts are not necessarily correct in processing the predictions, therefore we must be prepared for any situation because this has become a market habit before.

[sunsilk]

Well, just think of any possibility that can happen since it's very close to the $30k spot. If it manages to reach back that price, there will be a lot of buy orders that will be filled that consider it as the dip for this cycle. And once it happens, we'll see that it's going to recover a little which will encourage those people that are still in doubt and fear because of the bad news that has come.

There can be a reversal that it shall bring it to $40k. I'm still positive that it can get back to $60k but I don't know when it can happen. If this is the same scenario as the 2018 bear market, I like this year more than that year with what I'm seeing, even more.

[uneng]

Yes, it's possible to go below 30,000$ soon. Last wednesday btc reached 32,000$, then the market recovered nicely until friday, when btc dropped to 34,000$ with a very shy recovery right after, which resulted in the recent fall to 31,000$ already this sunday. What I see is that bitcoin is slowly going down, what means it's hitting limit orders of different investors set for different prices in 30,000's range, but these investors aren't willing to put a lot of money in bitcoin yet. It looks like big money isn't going to come into btc until the digital currency reaches at least the 20,000's range again.

[STT]

Froth doesn't determine pricing best, the base line moves gradually despite worries when hype evaporates and this is the most steady gain in BTC to take note of; my highest confidence is with the least desired pricing which long term is still incredible and very bright imo.  The highest prices are the most inaccurate, thats the thing to remember unfortunately.   Fast moves, grand estimates are obviously attractive but also highly unstable compared to regular lows which are the best indicator of direction.   I dont know if others do so but my most serious estimate is when few have an optimistic outlook.

[dimonstration]

I don't think so!

 looking at the charts you can see that there is a lot of support around the 30000 area possibly a lot of pending buy orders waiting to be filled around this area too to take price on the upside.

FYI a drop below the $30K would change market sentiments to be bearish.

It still hard to determine if upto how much the market will be, some were waiting to do buy back and probqbky hoping for prices to go dipper, once it reach lower 30k theres a possibility that the bearish trend will go up again. Many were just waiting for signals to buy.

[CaVO32]

Well, just think of any possibility that can happen since it's very close to the $30k spot. If it manages to reach back that price, there will be a lot of buy orders that will be filled that consider it as the dip for this cycle. And once it happens, we'll see that it's going to recover a little which will encourage those people that are still in doubt and fear because of the bad news that has come.

There can be a reversal that it shall bring it to $40k. I'm still positive that it can get back to $60k but I don't know when it can happen. If this is the same scenario as the 2018 bear market, I like this year more than that year with what I'm seeing, even more.

We can see that the support in the 30k level is quite strong, but in this market, everything is possible to happen. So it may go down below 30k but it can go up fast. Another week in trading and we will see where the market is moving. I am also optimistic in this market as the adoption this time is very different than in previous years. We need one good news to get up again.

[Gozie51]

I don't think so!

 looking at the charts you can see that there is a lot of support around the 30000 area possibly a lot of pending buy orders waiting to be filled around this area too to take price on the upside.

I think or also expect some buys to happen this week. The whales will be ready in filling there basket having made some good profit. This buy will be a factor which will begin to push price up back again to bull. The bear actually came early which may be from Elon musk negatively tweeting against bitcoin. I think the profit have been made and now is likely to see recovery.