Abolute bottom of Bitcoin? - page 4.

teosanru

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

I hope you are saying 30K and not 30.00$ because if it's 30 dollars either you are insane to even think that low. Bitcoin has changed too much from what it was 5-6 years ago. Only way it can go this low is if we found some vulnerability or problem in it's blockchain otherwise no reason that it would go so low ever. I think one should rather think of upwards. Yes, it's okay if you have to take an entry again for the price pump but if it goes to 30$ it's definitely never coming up again. 30K on the other hand seems to me as a good bottom. I think the bull run has actually ended and we are just trading around sideways finding the next bottom and 38k could be the first bottom after which btc might hover around this area for a year again.

plr

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

I would not bet, there's really no one can tell on the bottom five years from now, the market is very dynamic and no one here is a good fortune teller to tell the price, not even a good speculator or trader can do that, we can only have a hint or insight for a few months, even the dip of the market is unpredictable.

Fatunad

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Quote from: dothebeats on May 14, 2021, 01:02:01 PM

We have seen crashes and bear markets plunging bitcoin to -80% of the ATH, so it might not be entirely different compared to the previous tops and bottoms. $15k would be, IMO, the absolute bottom this current term can get if we are to base it on previous price performance. Of course, it can go several ways so there is no certainty as to what the absolute bottom of this current term is—and we haven't even explored the highest it can get as there are still a lot of upside potential for btc albeit being stuck in $50k - $60k for weeks.

It cant really be precise and no one could ever predict on how far we would able to go down this is why its always been a hard question in regards to this where is the bottom or what price is the peak.
The best thing to be done is to play on moving prices for your own advantage, yeah it might sounds risky but its very rewarding if you done it right and this will be varying on someones
skills and knowledge when they do trade and we know that not all people would really be similar into that manner.

Welsh

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Theoretically, the bottom is $0. However, the likelihood of that happening now is very small. However, considering this is the speculation section, I would say we could potentially return to below 10,000. However, that doesn't mean the currency is done or dead by any means.

Quote from: Fundamentals Of on May 13, 2021, 09:33:49 PM

How do you measure Bitcoin's success? Only through its price value?

What if in 5 years' time Bitcoin is only $20,000 but majority of ordinary markets, stores, restaurants, spas, pubs, barbershops, etc where people go every single day are already accepting it as payment? Or what if Bitcoin has gone down to $10,000 and yet 90% of the world's population is already using it? Or what if Bitcoin has already lost all fiat value because fiat has gone worthless and Bitcoin is only measured in terms of satoshis? Are we to declare Bitcoin as failure?

Despite what many people say, Bitcoin's success is judged based on its current exchange rate. That is just something we have to accept. Of course, Bitcoin is successful in many other factors, for example its proved that we don't need to rely on the banking system, and you safely, and effectively manage your own worth. Its also proved that you can have a system that people use all around the world, while still remaining decentralized. Its also proven that there are alternatives to the capitalist world we live in.

So, for many Bitcoin users particularly the ones which believe in the technology, rather than the ones that get hung up on the price Bitcoin has, and will always be successful for building the foundation that is has. However, in the eyes of the general population, and news sources the current value is the only thing that matters when talking about Bitcoin.

dothebeats

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We have seen crashes and bear markets plunging bitcoin to -80% of the ATH, so it might not be entirely different compared to the previous tops and bottoms. $15k would be, IMO, the absolute bottom this current term can get if we are to base it on previous price performance. Of course, it can go several ways so there is no certainty as to what the absolute bottom of this current term is—and we haven't even explored the highest it can get as there are still a lot of upside potential for btc albeit being stuck in $50k - $60k for weeks.

South Park

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

I do not know, this is a difficult topic, 30k could be a bottom that is true but in that case the all time high will need to at least get to 120k before we see such a low price, however if the current all time high is as high as we are going to go then I will say that at most we will see 40k and that will be it, since I do not see bitcoin crashing that much when we have some institutional investors protecting bitcoin and buying every time there is a single dip on the price.

BrewMaster

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There is trouble abrewing

the absolute bottom is as it has always been at $0.

the bottom of the short term dips is only predictable if we are in a bear market and the price is moving in an expected direction (down). in which case there are some technical analysis that can help.
other times when we are in a bull market and there is a dip there is no way to predict what the bottom of it is going to be. the size of them are usually between 10% to 40% and they can last between a couple of days up to 2 months.

Raflesia

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Quote from: GreatArkansas on May 14, 2021, 01:55:56 AM

Quote from: Mankov on May 13, 2021, 04:39:47 PM

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

For me, the best scenario is we will not able to see the lowest price reached of Bitcoin from the last bear run, which is below $4,000.
In short, the 90% correction from the previous all-time-high of around $60,000 is now impossible for me. The market is now different from previous years, volume is different now, adoption is different now.

We don't know what will happen in the future, bitcoin is actually moving faster and we never thought it would be that low when it reached a higher ATH and each adoption could certainly affect other things where bitcoin could last a long time.
Large enough market capitalists with a few institutions can also influence more quickly so I don't think it will be lower what many people expect.
In the next 5 years the development will be faster and this will make it even faster.

el kaka22

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I believe at this point we are not going to go under 20k that I can say, maybe it will not go under 30k too who knows but I am pretty sure it will not go under 20k and that is the absolutely bottom for me. It means if bitcoin price ever drops to anything under 25k and above 20k, I will probably use every single thing I own, sell them and then buy bitcoin.

I know that is against rule number one of investment; do not put money you can't afford to lose, however I am so certain that if it becomes anything between 20k-25k levels that would actually be something I would be more than happy to risk, I know that it could go 50k+ again and that means if I buy at anywhere under 25k I will make more than 2x profit from it. Combine with the fact that everything I own worths a decent amount and the x2+ of that worths even a lot more, that would make my life very easy.

Botnake

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I guess $15k.. actually, we will never know and we don't know if bitcoin has already reached its ATH as it's possible it will again pump and make a new ATH. All we can do now is carefully observed the market, once it falls and it will result in a bear market, then eventually we will see how people will panic which would result in a very low price.

If we will base in the past bull run, we could reach $10k when the bear season comes IMO.

pilosopotasyo

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

Are you late in buying, or failed to take the opportunity to buy Bitcoin at $5000 last year, the whole community is talking about all-time highs and lowest dip this year, very few people talk about the lowest dip next year or even the next five years, it's very hard to predict what's going to happen next year, much more for the next five years, we'll just take anything that's coming.

Kong Hey Pakboy

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How would you know that if it falls lower than 30k that it is going to fail forever? Do you have any evidences or facts to support the idea that it will fail when it goes lower than what you expected to be the lowest bar? I don't think that we will know what's going to be the absolute bottom of the prices until we arrive to that point.

Taskford

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

There's no exact bottom we can assume since it always depend on situation. Maybe we cannot see more deeper on what you though since many are waiting to accumulate at the dip and that could possibly be a support for bitcoin to not go more lower.

Quote from: Mankov on May 13, 2021, 04:39:47 PM

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

That's decent prediction and this figure is what I think the deep we might possibly reach. But if price will go more it doesn't mean that bitcoin will fail forever since we see more worse than that and bitcoin recovers from huge disaster.

GreatArkansas

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

For me, the best scenario is we will not able to see the lowest price reached of Bitcoin from the last bear run, which is below $4,000.
In short, the 90% correction from the previous all-time-high of around $60,000 is now impossible for me. The market is now different from previous years, volume is different now, adoption is different now.

bitterguy28

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

Always remember that there is incident that can make the market shaken like what we have last year.

- PANDEMIC or other related situation that can make market value very bad.

mk4

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Concerning bitcoin's price, one thing's for sure — most people end up getting totally surprised with how bitcoin performs(regardless if downwards or upwards). Hence why there's a reason that the DCA strategy is one of the most recommended buying strategies, and NOT timing buys/sells.

Lorence.xD

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Quote from: Ararbermas on May 13, 2021, 09:57:46 PM

Don't make too much expectation for this downfall mate because it can't help.. And honestly seems your just like those who's spreading fools prediction or a FUD despite of the declined ,, why not make a technical analysis first before doing this?

That's what I want to say too, I think that they are making a big deal out of it not knowing that the more we talk about it, the more we are going to see it go down. Not to mention that Elon didn't dump Tesla's bitcoin, they just suspended bitcoin payments.

Ararbermas

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Don't make too much expectation for this downfall mate because it can't help.. And honestly seems your just like those who's spreading fools prediction or a FUD despite of the declined ,, why not make a technical analysis first before doing this? Because for sure it will change the point of view that you have right now.
Indeed bitcoin is a very strong asset in this crypto world so how come it will end up like this especially after all the massive improvements? this is just a temporary situation like what always happen mate..

Fundamentals Of

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How do you measure Bitcoin's success? Only through its price value?

What if in 5 years' time Bitcoin is only $20,000 but majority of ordinary markets, stores, restaurants, spas, pubs, barbershops, etc where people go every single day are already accepting it as payment? Or what if Bitcoin has gone down to $10,000 and yet 90% of the world's population is already using it? Or what if Bitcoin has already lost all fiat value because fiat has gone worthless and Bitcoin is only measured in terms of satoshis? Are we to declare Bitcoin as failure?

TravelMug

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

5 years? That's a long time mate, really hard to see what could be the bottom.

Quote from: Mankov on May 13, 2021, 04:39:47 PM

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

To find the bottom we need to see what will be the absolute ceiling price, 6 digits? Then I wouldn't say that $30,000 will be the floor price here. And I don't think that bitcoin will fair 'forever', it has existed for the last 10 years and will continue. We might not see the last bitcoin being mine, but for the next 3 halvings, we might see the top price.

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