If Bitcoin drops to $8k

[sklopan]

Not believing with Bitcoin values drop under $8,000 and support price I think only under $29,000. But never have any possible with bitcoin if always have bad news we can get under $8,000 although as little possibility. Many company accepted bitcoin and they won't losing much money if have to sell bitcoin under $8,000. Actually if bitcoin drop few percent from price now I think many investor will buy back and earn moment for bitcoin back to higher price.

I completely agree. I think that now many investors understand that in the future the price of bitcoin will only grow. So, while no one writes off bitcoin.

[Questat]

Lets assume Guggenheim's Minerd speculation on bitcoin having an ultimate bottom of $8k if it hits $30k referencing the "[U.S. Federal Reserve] being restrictive.”, Currently bitcoin price is below $28k and from the look of things this speculation might and might not be accurate but what if bitcoin price falls to this very dip.

I am asking what will you sell to buy more bitcoin if this speculation ever happens or will you choose to  sell off all your bitcoin due to FUD.

That is his point of view and it was different from mine (and even from the other members). I would say that was not a realistic view in the market today nor we could compare before as saying it runs to the same point like having a huge drop again.

We have never seen yet that Bitcoin drop below $25k, not even it reached that level until today. This was an indication that the market has its stronghold at @28k. Though we can't assure until when the Bitcoin can hold that price, however, I was optimistic that it could until it rallies back high again.

[gabbie2010]

Now What do you think after seeing of the current market conditions?  Will it ever happen that Bitcoin will go to 8000? No, I don't think that will be ever happening. And if it ever happened, I would borrow money from others and buy as much bitcoin as I could.  Because there is no fear of holding bitcoin.

If possible I will also sell my landed property to buy bitcoin should the price fall to $8K, this would have been a very big opportunity for those of us that missed early adoption of bitcoin, with reference to all the past dump of the Price it is obvious and evidently known that no matter how dip the price, the chances of price recovery is very bright, bitcoin is the most common and popular cryptocurrency I am very sure that once it drop to $8K there is going to be a massive buying by individuals and institutions which will invariably pump the price massively and return bullish.

[Desscount]

Bitcoin's strong support is at $26k I think, if $26k breaks then we'll see $20k,
what the OP said I think $8k is not really technical analysis, because Bitcoin never goes down that deep,
$15k to $20k maybe will be the bottom price of Bitcoin.

[SirLancelot]

I think, the best decision if the bitcoin price dropped down to $8,000 or $10,000 is to sell some items to raise money to buy huge amount of bitcoin for future profit making. We are still in bearish market, it will be favourable to hold for the price to hit back to $50,000 before you can sell to make a good income. It will be difficult for the price to decrease to $8,000 at this moment, because we are about to enter bullish market where people will be rushing to sell their bitcoin to make a passive income.

Indeed that would be the best idea but I am telling you when and if that actually happens, BTC dropping to $8000, people will panic and everyone will be feared to buy because that's very normal and while $8000 looks juicy right now, it will look threatening when it actually happens. When BTC was $60000 people were saying they will buy when the price drops below $50k and then $40k but how many of us are buying now? Hardly a few of us.

In my opinion, the price will not fall to this level. Overall, though, such a drop would be pretty interesting, and I would definitely buy at that price.

Good to see new traders/members having such confidence but honestly don't see the price dropping to $8000 unless there is a massive hack or exit scam from a big exchange like Binance or Coinbase, which isn't a real possibility but you never know what can happen in crypto.

[AakZaki]

I will buy more bitcoin if it continue to drop. I prefer to hold during this time and no shoping policy for my self to avoid any unneeded things and save for bitcoin investment.

It's hard, I'm afraid if the price of bitcoin is less than $13k. I wish the worst prices were around the area. If it's below it's really bad. It should be that if it reaches that area BTC will again rise. If we believe in the halving cycle and believe that the law of supply and deman then the price will increase even more. For several periods we have seen that happen so right now we just have to wait patiently. In addition, we still have to be vigilant and continue to discipline our asset management.

[Lanatsa]

I will buy more bitcoin if it continue to drop. I prefer to hold during this time and no shoping policy for my self to avoid any unneeded things and save for bitcoin investment.

It's hard, I'm afraid if the price of bitcoin is less than $13k. I wish the worst prices were around the area. If it's below it's really bad. It should be that if it reaches that area BTC will again rise. If we believe in the halving cycle and believe that the law of supply and deman then the price will increase even more. For several periods we have seen that happen so right now we just have to wait patiently. In addition, we still have to be vigilant and continue to discipline our asset management.

Whenever we do go back into those early days price or lets say 2015-2018 then it would really be creating that kind of fear in the entire market on what the hell is happening in the market?

You cant just easily trying out to make out some buybacks into these times which it would really be something hard to be done even if you do have the money or funds then this kind of decision wont really be that simple.

If you could accumulate more that into these levels or points but of course you cant be sure if recovery would be next or totally complete decline.Who knows?

[BuNga_cute]

Lets assume Guggenheim's Minerd speculation on bitcoin having an ultimate bottom of $8k if it hits $30k referencing the "[U.S. Federal Reserve] being restrictive.”, Currently bitcoin price is below $28k and from the look of things this speculation might and might not be accurate but what if bitcoin price falls to this very dip.

I am asking what will you sell to buy more bitcoin if this speculation ever happens or will you choose to  sell off all your bitcoin due to FUD.

I don't think i am going to sell part of my coins if ever bitcoin drops into $8k because we all know that when bitcoin price is dropping, majority of the coins are dropping too so its gonna be selling at a loss if i consider that. Instead, i will continue hodling all my coins and just spend some of my extra funds to buy more cheap bitcoin. That way, i know i will be hodling them all for profits, not for losses instead.

I will also do the same thing if it is true that the price of Bitcoin falls to the price of $8k, the best step is to hold the coins that we have.
Because it's a bad decision in my opinion if we sell the coins we have when the price is low, because our initial goal of investing in crypto is
to make a profit, not to suffer a loss. Moreover, we have invested in coins which are indeed good based on the results of the research and
analysis we have done. So we have to believe in the future of these coins and hold until the price goes up again.

Sell on loss is a dumb decision to be made by someone and if the price drops on that low then it would be better to hold your position.I know it wont be easy on accumulating
even more on times or conditions like this where doubts and anxiety would surely mix up on where you do raise up questions into your mind on what the fuck is happening on the market.
You would really be minding or asking questions again if there are some other new coins which is more better than bitcoin itself or this is just an another
typical crash that do happen in the market.

That is why it is very important to have knowledge about Bitcoin before we decide to invest in Bitcoin. At least so that we understand Bitcoin,
so it makes us believe that Bitcoin is a coin that has a bright future. So when the Bitcoin price drops we don't panic easily and can be more patient
holding Bitcoin, because we already understand how Bitcoin works. Without knowledge, there is a risk that we will hesitate to hold Bitcoin if the price
falls very deep, and there is a possibility that we sell Bitcoin at a low price. Even though Bitcoin is the safest coin to buy during a bear market,
because of how deep the Bitcoin price has fallen, surely one day it will rise even higher if we can be patient holding Bitcoin. Therefore, never be lazy
to continue learning the crypto world, because having knowledge is one of the keys to success in making big profits in the crypto world. Without
knowledge we will often make wrong decisions and will only make us experience losses.

[Hypnosis00]

...

Whenever we do go back into those early days price or lets say 2015-2018 then it would really be creating that kind of fear in the entire market on what the hell is happening in the market?

You cant just easily trying out to make out some buybacks into these times which it would really be something hard to be done even if you do have the money or funds then this kind of decision wont really be that simple.

If you could accumulate more that into these levels or points but of course you cant be sure if recovery would be next or totally complete decline.Who knows?

If the price of Bitcoin will drop below $20k, not time people will start to panic and wonder what really happening in the market. It certainly will come out of their mind about the previous bear season when prices drop almost to the ground. But, I don't think that will come, not this time as people had already had to learn to be patient and hold, they now appreciate how holding saves them from losing their money rather than selling it at a lower price.

2018-2019 is just a history, people make use of it as a mirror to what they have done during that time and they figured out their wrongdoings. For now, it was quite good to see the view of the market as, despite the war and FUDs, we've still in a healthy market condition.

[Dave1]

I will buy more bitcoin if it continue to drop. I prefer to hold during this time and no shoping policy for my self to avoid any unneeded things and save for bitcoin investment.

It's hard, I'm afraid if the price of bitcoin is less than $13k. I wish the worst prices were around the area. If it's below it's really bad. It should be that if it reaches that area BTC will again rise. If we believe in the halving cycle and believe that the law of supply and deman then the price will increase even more. For several periods we have seen that happen so right now we just have to wait patiently. In addition, we still have to be vigilant and continue to discipline our asset management.

Yes, the basic supply and demand and bitcoin halving could be the reason that we might not see the price going below $10k. I think we have reached that prior to the bull run of 2017, so I doubt that we will go backwards. Bitcoin is one of the most sought after asset currently in the market. So the moment there is a huge dip, investors are going to flock and buy tons of it.

[Oshosondy]

Not believing with Bitcoin values drop under $8,000 and support price I think only under $29,000. But never have any possible with bitcoin if always have bad news we can get under $8,000 although as little possibility. Many company accepted bitcoin and they won't losing much money if have to sell bitcoin under $8,000. Actually if bitcoin drop few percent from price now I think many investor will buy back and earn moment for bitcoin back to higher price.

With last 4 year cycle volatility, bitcoin only decreased like 5x of the ATH, if the ATH in this 4 year cycle is $69000, then I predict the lowest price can not be lesser than $14000, I do not think bitcoin can fall to less than $10000 again, but what is possible is $100000 which will occur in the next 4 year cycle bull market.

[Silberman]

Not believing with Bitcoin values drop under $8,000 and support price I think only under $29,000. But never have any possible with bitcoin if always have bad news we can get under $8,000 although as little possibility. Many company accepted bitcoin and they won't losing much money if have to sell bitcoin under $8,000. Actually if bitcoin drop few percent from price now I think many investor will buy back and earn moment for bitcoin back to higher price.

With last 4 year cycle volatility, bitcoin only decreased like 5x of the ATH, if the ATH in this 4 year cycle is $69000, then I predict the lowest price can not be lesser than $14000, I do not think bitcoin can fall to less than $10000 again, but what is possible is $100000 which will occur in the next 4 year cycle bull market.

However we also need to consider that the bull market we saw was nowhere near as intense as the one that we saw previously, so it would make sense the drop is not as intense either, personally I think the very bottom could be at 20k which is close to the all time high we reached during the 2017 bull run, so I agree with you that we are never going to see a price below 10k ever again and anyone which wishes for this to happen will become incredibly disappointed.

[sana54210]

Bitcoin's strong support is at $26k I think, if $26k breaks then we'll see $20k,
what the OP said I think $8k is not really technical analysis, because Bitcoin never goes down that deep,
$15k to $20k maybe will be the bottom price of Bitcoin.

I do not think that it will even be broken. We have reached 26k bottom, and we recovered from there pretty quickly, the market doesn't want it to be there and I believe that we should not be focusing on anything that the market doesn't want to do. If there was a possibility, we wouldn't be recovering like this, and we would be doing much better.

I hope that we would reach to a higher level, 40k+ is not that far off and I believe that if we work towards that, we could potentially reach it. This is of course something that would take some time, so while waiting for 40k+ we also need to be a bit more patient and eventually we will reach there.

[blockman]

Market makers can go for stop hunting below $10k level because of possible accumulated limit orders for years in mentioned price range. I doubt the FUD will cause such huge depression on market, the possibility of such event is near 0,IMHO. I will join buyers and accumulate much more crypto if predicted market crash ever happens.

It had pulled the market from the ATH and then we go to the half of it from there. FUD still works for these whales and they still move the markets but what is good for experienced people that have been on the market, they don't mind whatever the FUD is.
We know that these FUD are going to create panic mostly among the newbies but to us, we just accept whatever it is and we know that eventually, the market will recover. About bitcoin going down to $8k again, it may happen through chances but just as what the most opinion says, it's little.

[Yamifoud]

Market makers can go for stop hunting below $10k level because of possible accumulated limit orders for years in mentioned price range. I doubt the FUD will cause such huge depression on market, the possibility of such event is near 0,IMHO. I will join buyers and accumulate much more crypto if predicted market crash ever happens.

It had pulled the market from the ATH and then we go to the half of it from there. FUD still works for these whales and they still move the markets but what is good for experienced people that have been on the market, they don't mind whatever the FUD is.
We know that these FUD are going to create panic mostly among the newbies but to us, we just accept whatever it is and we know that eventually, the market will recover. About bitcoin going down to $8k again, it may happen through chances but just as what the most opinion says, it's little.

FUD doesn't work by now - it was just a failed attempt that these whales are trying to do in the market and manipulate the price.
What he (Guggenheim's Minerd) say is pure assumptions about a very unpredictable future, and likely wrong. Reaching back to $8k is quite impossible, not at this moment as people know how to hold and are already strengthening their faith in Bitcoin. And to see the possible huge increase in demand, the more it helps to keep the current price to its current level (and to see a spike is likely possible).

[Mr.right85]

As unrealistic as I would like to imagine that to be (Bitcoin price falling down to $8k) some many have happened in the market that one can't just stop being disappointed. The market often beats our every prediction and I can tell that the cash so far was very much unanticipated to get this far.

In the event that bitcoin falls to $8k, a lot of questions would definitely flood my thoughts and it's going to be basically questions on what have changed in the system. Should it be the wahles just flooding the market with coins to crash the market, I'm surely going to find a way to get some funds (a perceng of it) off my personal savings to invest more in the market.

If that happens not to be the case, perhaps I would hold further to see what would become of the market other than  rushing into a sell but trust me, I'm sure to see the end of bitcoin if it supposedly have one.

[blockman]

It had pulled the market from the ATH and then we go to the half of it from there. FUD still works for these whales and they still move the markets but what is good for experienced people that have been on the market, they don't mind whatever the FUD is.
We know that these FUD are going to create panic mostly among the newbies but to us, we just accept whatever it is and we know that eventually, the market will recover. About bitcoin going down to $8k again, it may happen through chances but just as what the most opinion says, it's little.

FUD doesn't work by now - it was just a failed attempt that these whales are trying to do in the market and manipulate the price.
What he (Guggenheim's Minerd) say is pure assumptions about a very unpredictable future, and likely wrong. Reaching back to $8k is quite impossible, not at this moment as people know how to hold and are already strengthening their faith in Bitcoin. And to see the possible huge increase in demand, the more it helps to keep the current price to its current level (and to see a spike is likely possible).

I wouldn't say impossible, it's still possible but very little chance to make it happen. We're on the moving forward phase and despite the bearish market sign that it shows, bitcoin stands firm at the range of $28k and above. Well, for me that's a good sign and it only shows how strong bitcoin is in these times. While the other markets, there's a possible huge dump because of the world situation. Bitcoin stands on its own and we know that it's a separate market that can't be put down by the traditional markets even if they spread too much FUD.

[Desmong]

As unrealistic as I would like to imagine that to be (Bitcoin price falling down to $8k) some many have happened in the market that one can't just stop being disappointed. The market often beats our every prediction and I can tell that the cash so far was very much unanticipated to get this far.

In the event that bitcoin falls to $8k, a lot of questions would definitely flood my thoughts and it's going to be basically questions on what have changed in the system. Should it be the wahles just flooding the market with coins to crash the market, I'm surely going to find a way to get some funds (a perceng of it) off my personal savings to invest more in the market.

If that happens not to be the case, perhaps I would hold further to see what would become of the market other than  rushing into a sell but trust me, I'm sure to see the end of bitcoin if it supposedly have one.

I see no reason why the price of Bitcoin will go that bad of reaching 8k. This is unacceptable for me because we might have seen a lots of things happening in the Crypto world where the price of Bitcoin falls so bad that investors never believed it. The least I think Bitcoin can fall to is $20k before going back to the top. We have seen many occurrence when the price of Bitcoin goes bearish to an unbelievable level, but this one wi not be so.

[kapalmabur]

As unrealistic as I would like to imagine that to be (Bitcoin price falling down to $8k) some many have happened in the market that one can't just stop being disappointed. The market often beats our every prediction and I can tell that the cash so far was very much unanticipated to get this far.

In the event that bitcoin falls to $8k, a lot of questions would definitely flood my thoughts and it's going to be basically questions on what have changed in the system. Should it be the wahles just flooding the market with coins to crash the market, I'm surely going to find a way to get some funds (a perceng of it) off my personal savings to invest more in the market.

If that happens not to be the case, perhaps I would hold further to see what would become of the market other than  rushing into a sell but trust me, I'm sure to see the end of bitcoin if it supposedly have one.

I see no reason why the price of Bitcoin will go that bad of reaching 8k. This is unacceptable for me because we might have seen a lots of things happening in the Crypto world where the price of Bitcoin falls so bad that investors never believed it. The least I think Bitcoin can fall to is $20k before going back to the top. We have seen many occurrence when the price of Bitcoin goes bearish to an unbelievable level, but this one wi not be so.

Even though the price of Bitcoin in the past few weeks had continued to decline, I also don't think the price of Bitcoin will go down to $8k,
so far the price is still steady at $29k and hope it can get back up soon,
What's clear is that it's better to just follow the progress and we never know what will happen in the future

[iv4n]

Are you really believing this dumb person? not any single his prediction is correct lol.

December 2020
    Minerd said bitcoin "should be worth around $400,000."
    Bitcoin's price: about $20,000.

February 2021
    Minerd said bitcoin could go to $400,000 to $600,000
    Bitcoin's price: about $40,000.

June 2021
    Minerd told CNBC that bitcoin could bottom out at $10,000 to $15,000 in its latest swoon.
    Bitcoin's price: about $35,500.

October 2021
    Minerd said he was no longer invested in bitcoin.
    Bitcoin's price: around $63,000.

May 23, 2022
    Minerd told CNBC bitcoin could fall to $8,000.
    Bitcoin's price: around $29,000.

This was from your article, the reason why he predict Bitcoin will fall to $8K is because he's no longer invest in Bitcoin anymore and want to create stupid prediction to make a panic on the market, obviously this can be his advantages to buy Bitcoin since he may likely sold around $30K-$40K. Look at his prediction on June 2021, why Bitcoin price was increase and not dump? answer this question.

He is just another "crypto expert"! There's no answer to your question, what he is doing is making some blind predictions based on his feeling only! He is loud so he got some followers, but if they really followed his signs I guess they are at loss for sure!

At least he predicted $8k, he didn't say Bitcoin will die like many others did, so many times... that is probably his next prediction! Anyway, I doubt that will happen, and people should try to choose whom to follow more carefully!