It's really possible because the market has been really surprising. It could rise up and go down easily and $7k is so near to its current value. We could expect all the best from Bitcoin but we can also expect the worst at the same time.
The market is volatile so this possibility could happen anytime.
Topic: Are We Going Back to $7,000? - page 4. (Read 10408 times)
trends don't have to last indefinitely. they only last as long as the force behind them are still strong and there and end when that force ends. more importantly that end doesn't mean reversal, it just means that trend ended and new one is starting.
in this case the trend was party a FOMO and partly a long overdue correction of an underpriced state which needed to go back up fast and big like this. so it happened. in other words bitcoin price should have reached $8000 in December or January tops so it is already 5 months late.
when that happened, it slowed down and entered a new phase which is the build up to the next rally towards $10k. it doesn't have to go back down to $7k or other lower prices, not to mention that it still would be a less than 10% drop which is ignorable.
in this case the trend was party a FOMO and partly a long overdue correction of an underpriced state which needed to go back up fast and big like this. so it happened. in other words bitcoin price should have reached $8000 in December or January tops so it is already 5 months late.
when that happened, it slowed down and entered a new phase which is the build up to the next rally towards $10k. it doesn't have to go back down to $7k or other lower prices, not to mention that it still would be a less than 10% drop which is ignorable.
Support level at this point is $7700, $7500, obviously if those are broken then the price could go to $7000 levels. So there is that possibility and that everyone should take that opportunity to stash some more and then see if the market will continue to go down or not. If it did, then buy more at this dip.
So far the price is holding at $7700-$8000, It retested $8000, but wasn't able to push enough to $8200-$8400 upper bounds. So let's see if a break-out run could resurfaces or the price could go as low as $7500.
So far the price is holding at $7700-$8000, It retested $8000, but wasn't able to push enough to $8200-$8400 upper bounds. So let's see if a break-out run could resurfaces or the price could go as low as $7500.
We'll reach $7000 often which is just a kind of a price fluctuation. The market has gained good support and it is on the urge for the next price increase. With that we can reach the $10000+ value. This is how the market is moving, same time if the whales try to manipulate we can experience a downtrend and further will begin its growth. If there is some form of deep fall it can be used as right time for investment.
And its totally staying to $7900 for the moment. We will see $10000 soon if this gain will never stop the market.Strong support is placed at $7500 on most exchanges right now though that doesn't mean that it can't be pulled off by whoever owns that at any given moment. Right now I won't recommend buying, but the insane dip just a few days ago would have been a nice buy if you are keen on what's happening with the market at that time. $7900 is currently a fragile price point and I wouldn't suggest buying at this range. Perhaps if we climb back down $7500 or lower, buying would be good.
There's still a possibility that we might see a pull back to $7000 but I'm confident that we will stay higher than the support. And later on it will break a new support. 
We'll reach $7000 often which is just a kind of a price fluctuation. The market has gained good support and it is on the urge for the next price increase. With that we can reach the $10000+ value. This is how the market is moving, same time if the whales try to manipulate we can experience a downtrend and further will begin its growth. If there is some form of deep fall it can be used as right time for investment.
Strong support is placed at $7500 on most exchanges right now though that doesn't mean that it can't be pulled off by whoever owns that at any given moment. Right now I won't recommend buying, but the insane dip just a few days ago would have been a nice buy if you are keen on what's happening with the market at that time. $7900 is currently a fragile price point and I wouldn't suggest buying at this range. Perhaps if we climb back down $7500 or lower, buying would be good.
Do you think this little dip can be the best opportunity to add more bitcoin into one's portfolio? Or should we wait some more time as there is that possibility that bitcoin can get back or retrace into the $7,000 level? What is your guess?
People waiting for a dip to start buying most likely won't end up buying at all, because when it does reach $7000 they will wait for $6500, then $6000, and so forth. In other words, they'll miss out once again.The price hovered below the $4000 for quite some time and people didn't want to touch Bitcoin, while now it's worth twice as much people suddenly wait for $7000 to start buying? Nonsense. Don't fool yourself thinking that.
Noobs will continue to miss out and eventually yolo buy during a pump because they are sick and tired of waiting. The downside to that is the likelihood of them buying the top of the pump and see the price crash shortly after.
A fool with money is still a fool at the end of the day....
How can we really tell that it's real correction and just the usual happening in the market?
Can't tell beforehand.
I see a lot of selling going on as we speak (open up your exchange tab and see it happen live for yourself), and so far the sales are absorbed with little to no effort and we keep going back to that $8000 level, which is a positive sign in my opinion. The more people we see take profits right now, the easier the ride up will be when the rush continues.
I would love a revisit of $6000 (or even lower) so I can buy back lower, but the bulls have shown more strength than I initially gave them credit for.
Bitstamp's orderbook currently has a depth of +$80 million in visible buy orders, which is more than double of what it was before we started pumping, which shows that this increase isn't based on hot air, and this after the 5000BTC dump that took like $35 million out. This is very impressive I would say.
I think we're seeing that happen because the ALTs finally decided to fight back and hence as they gain appreciable momentum, Bitcoin on the other hand had to retrace a little. Anyways i don't believe we're heading back to $7K. We'll hover around $8K for the time being.
It is still swinging on the moment and its still need to see if it is going to spike or bust. It depends on the time span you want to hold, for longer terms go for it.
I believe that during the summer, Bitcoin can drop for a short time to the level of $ 7,000. This will be a logical and expected correction for me, which in principle will not affect my long-term investment plans. Therefore, I admit the development of the situation in such a scenario.
Nothing unusual I would say and nothing to be worried about. We've seen such corrections many times so far and I could say it was kind of expected. Obviously some predictions that Bitcoin price will touch 10000$ this weekend were wrong but this isn't the first time. I wouldn't be surprised if price goes even below 7000$ this week but that doesn't mean that it will continue to drop, recovery could happen rather soon.
Yeah, no big deal with this market movement. This supposedly 'correction' will happen time and time again. How can we really tell that it's real correction and just the usual happening in the market?
Back to 7000$ now no, but this looks like a game, after grow to over 8200$ drop to 7100$ or lower and again grow to 7800$ and i think maybe again will drop and after will grow again, who have money can make some good profit.
For someone who's been in this forum since to 2015, it seems weird that you would call these market movements a "game" 
You should know how this market works and that these extreme price swings in the BTC price are pretty normal when both price and volume suddenly go up. BY saying "game" you're making it sounds as if there's someone behind the scenes manipulating the prices...Yes this is needed. Let's hover in the 7000s for a few weeks, otherwise we wont see any ATH in the near future. Too early for FOMO.
Why 7000, and not 6000, though? The price went up from 5k to +7k without much resistance, so why not some consolidation around 6k? If its not going to break the $8k, it will just keep the price swinging from $7k to 8k. The bulls just stop and there are more reasons to accumulate more coins than to keep it going to moon. This is where you shall think the sudden rise is actually a bulltrap, if you believe it you will end up selling.
Nothing unusual I would say and nothing to be worried about. We've seen such corrections many times so far and I could say it was kind of expected. Obviously some predictions that Bitcoin price will touch 10000$ this weekend were wrong but this isn't the first time. I wouldn't be surprised if price goes even below 7000$ this week but that doesn't mean that it will continue to drop, recovery could happen rather soon.
It would be hard to get back to 7k again.
There are many resistances that have to go through if we want to get back to that levels. Also retracement is going to happen easier if it does around 8k and not around 7k, so I don't think we have to worry.
There are many resistances that have to go through if we want to get back to that levels. Also retracement is going to happen easier if it does around 8k and not around 7k, so I don't think we have to worry.
Yes this is needed. Let's hover in the 7000s for a few weeks, otherwise we wont see any ATH in the near future. Too early for FOMO.
Back to 7000$ now no, but this looks like a game, after grow to over 8200$ drop to 7100$ or lower and again grow to 7800$ and i think maybe again will drop and after will grow again, who have money can make some good profit.
The 8K USD price level isn't getting enough support,so many "not very patient" traders will start selling their bitcoins and cashing out the profits of the recent bull run.This might push the price down to 7K USD,but that's perfectly fine.I still believe that bitcoin will reach a new ATH next year,so I'm not selling my bitcoins.
yes, besides the price has also just recovered, so I think, there are still many people who can't wait to sell their assets. Current prices may be very difficult to stabilize above the price of $ 8k, but I think little by little, prices will recover and rise again 
The 8K USD price level isn't getting enough support,so many "not very patient" traders will start selling their bitcoins and cashing out the profits of the recent bull run.This might push the price down to 7K USD,but that's perfectly fine.I still believe that bitcoin will reach a new ATH next year,so I'm not selling my bitcoins.
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