Are we looking at Bitcoin down to $5K? - page 5.

wxa7115

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Quote from: cryptomarketyourself on October 11, 2019, 10:17:13 AM

Two weeks ago everything seemed like we were on a bullish trend towards a 12K mark. Now we're all fearing a 5K resistance level. Thoughts?

https://cryptotradernews.com/crypto-trader-pro/will-bitcoin-fall-to-5k-by-end-of-2019/

^^^ good insights on why btc could go up and down.

"Experts believe that Bitcoin’s performance will improve as the US-China trade war intensifies or a no-deal Brexit comes closer."

People were being too optimistic about the chances of bitcoin of reaching a new all time high when nothing of particular importance was announced at the time, so the movement that began on the first quarter of this year was mostly inspired by the incredibly low price of bitcoin and nothing more, but once the value of bitcoin reached 5 figures the demand dropped and the price decreased once again.

I really believe that 5k is the lowest the price could go this time around but it will not be a fast process, it will probably take at least a few months to see that price, but if the demand begins to increase due to the halving then the lowest price we could see could be closer to 6k or 7k.

inanilujimi

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not at all, $ 5k for Q 4 this year is not possible because usually ending the year the price of btc will increase maybe for $ 10k will be reached later this year.

Oceat

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I don't see any signs that Bitcoin would fall to that level of price, unless there is a correction or FUDs but I really doubt if there is. But one thing is for sure, once Bitcoin starts to go bullish, expect a bunch of BS Fuds and other negative propaganda that will going to pop out of nowhere.

Bitcoin next month might be bullish if the stable price of $8k continue and I am expecting a $9k by that time somehow. At least $9k is still a reasonable price to argue next month. Grin

djselery

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I don't think so, the market is recovering again slowly, so BTC price is also expected to go up again during the next coming months. The actual price is a bit above $8k and it is going up, so it is hard that it will fall below $5k, in the nearest future at least.
However, it is still a good time to buy BTC, at the actual low rate, to make bigger profits soon when the price increase.

ardentvolcanoes

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Quote from: watergold on October 12, 2019, 10:49:28 AM

Quote from: Kyraishi on October 12, 2019, 05:33:56 AM

Doubt there's anyway we see the prices plummetting to the 5,000 range this year, things are still fairly stable and they haven't crashed or blown up in the recent year.

When it goes down to 6k, it'll hold there and it'll only be some time before bigger investors come into play and take advantage of the lower price.

I think the only way we see this price happening is if a series of whales dump their coins.

Bitcoin will be stable in the range of $ 8000 but may not fall to the price of $ 5,000 because investors still consider the price of $ 7,700 as the lowest point, and I think a series of whales is not possible to throw coins. , seeing the current stable market conditions, but in the end bitcoin news still says that it will grow quickly and some say it is falling badly and only time can determine the price of bitcoin.

For now we are holding from that range, but who knows what the market will bring tomorrow and the next day to follow. Some fears that it will fall to $5k level while some are waiting to take that bottom and collect those cheap coins while waiting for the expected halving next year.
It will be a tough job to call your position since volatility is very active inside the market. take your position and wait whether it will brings you the benefits that you are aiming or it will go to the other direction and failed your expectations.

beerlover

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I doubt bitcoin will be $5k but I don't doubt bitcoin could go down anytime soon. I mean look at how people look at bitcoin, everyone thinks it will go down to a really low number and price which is why we all are talking here about the $5k price, hell even $5k could be possible if we go down too much, do you really think if bitcoin goes to $6k then it won't go under neither? We have been falling for a long time if that happens (from all the way from $13.8k at max) so anything under $7k is risky.

Now, if we don't fall then there is no problem because we would go back into bull mode and break $10k once again, however as soon as we start to fall we will definitely have a risky situation where price may hit $5k or at least a bit above that nearby because of the panic sellers.

iMark

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Quote from: 7788bitcoin on October 12, 2019, 08:24:09 AM

Quote from: Kyraishi on October 12, 2019, 05:33:56 AM

Doubt there's anyway we see the prices plummetting to the 5,000 range this year, things are still fairly stable and they haven't crashed or blown up in the recent year.

Even if the price of bitcoin goes below $6k i hope that will be the last time we will see those prices and even if it goes down just consider it as an opportunity to purchase at a good valuation. If we have the next bull run then there is no way that the price is coming down to these three digit valuation until and unless there is a major issue in the entire market, be it a big global financial crises or some other major crises.

I don't think we can say that all possibilities are impossible, you can't say that prices won't fall to $5k, despite the fact that some time ago many people said that the bottom line was at $10k, but the price fell deeper to $8k. You can't say that the price will definitely go up to $12k, but the price will go more to $14k. Bitcoin market cannot be predicted in the long run like this, many unpredictable things can change market conditions right away.

watergold

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Quote from: Kyraishi on October 12, 2019, 05:33:56 AM

Doubt there's anyway we see the prices plummetting to the 5,000 range this year, things are still fairly stable and they haven't crashed or blown up in the recent year.

When it goes down to 6k, it'll hold there and it'll only be some time before bigger investors come into play and take advantage of the lower price.

I think the only way we see this price happening is if a series of whales dump their coins.

Bitcoin will be stable in the range of $ 8000 but may not fall to the price of $ 5,000 because investors still consider the price of $ 7,700 as the lowest point, and I think a series of whales is not possible to throw coins. , seeing the current stable market conditions, but in the end bitcoin news still says that it will grow quickly and some say it is falling badly and only time can determine the price of bitcoin.

gabbie2010

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Quote from: target on October 11, 2019, 10:58:41 AM

Quote from: ?? on ??

Although the article said that the price of Bitcoin could decrease to $ 5k by the end of this year, But I am pessimistic that it will happen. I still confident that the price of Bitcoin can reach $15k at the end of this year. The Bearish trend is starting to end slowly but not completely gone, the little Bearish trend still exists today.

I checked the article, they did give a statement but didn't backed it up with the chart analysis. This is sort of a clickbait executed poorly. The price could go dip of course there is the possibility since this is the time where small time and big traders are re-accumulating what was dumped two years ago. If the support at $7K will break, the price to dip at $5k or even below it is possible. I doubt it will happen soon, you will have to wait for weeks to see signs.

They should had backed it up with a chart however the price movement of bitcoin is based on fundamentals as it now the price might not touch the support at $7000, once the resistance at $7800 was broken the price might retouch it and boom the bullish runs continues, I believed speculators just want the price down to $5000 to that they can buy at having in mind that the halving of bitcoin in 2020 is going to be massive.

7788bitcoin

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Quote from: Kyraishi on October 12, 2019, 05:33:56 AM

Doubt there's anyway we see the prices plummetting to the 5,000 range this year, things are still fairly stable and they haven't crashed or blown up in the recent year.

Even if the price of bitcoin goes below $6k i hope that will be the last time we will see those prices and even if it goes down just consider it as an opportunity to purchase at a good valuation. If we have the next bull run then there is no way that the price is coming down to these three digit valuation until and unless there is a major issue in the entire market, be it a big global financial crises or some other major crises.

Kyraishi

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Doubt there's anyway we see the prices plummetting to the 5,000 range this year, things are still fairly stable and they haven't crashed or blown up in the recent year.

When it goes down to 6k, it'll hold there and it'll only be some time before bigger investors come into play and take advantage of the lower price.

I think the only way we see this price happening is if a series of whales dump their coins.

dragonvslinux

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I don't see $5k being out of the question, it was around this price that initiated longer term investors to come into the market last year.
It would no doubt be a level we see investors come back to the market, if $6k level doesn't hold.

Here's an example of how the $5k area could occur, to provide more of a realistic (as well as optimistic) perspective:

Quote from: dragonvslinux on September 29, 2019, 06:47:30 AM

Source: Trading View, September 17th 2019

gandame

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Quote from: mindrust on October 11, 2019, 10:40:56 AM

Anything is possible but there are far too many people waiting for cheap bitcoins. And I don't see it going that low while there are that many people waiting to buy those coins. Whenever btc makes a nosedive, people are going to get in line and fill those order books.

I wait that price also so i think positive that bitcoin goes down at $5k and i will buy also bitcoin. And i will keep anf holding it for along investment. So nothing is impossible be positive and do what we thought so that we can achieve our dream by holding bitcoin.

Republikcoin.com

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Quote from: Reid on October 11, 2019, 10:53:12 PM

Then who are those experts? Wink

5k USD is way too low for me. I dont think it will go that far. 6k USD is what I believe is the lowest it could go.
But, given the resistance that we are seeing now it may not happen too. Although if it does then I am all the way to a buy mode without any doubts or regrets.
That is way too low and will have sure profit even in a short time.

preparing ourselves at a price of $ 5k is a pretty good thing. however, I also think that the price of bitcoin will not reach that level. until now the price of bitcoin is still at the level of $ 8k, and there is a big possibility to increase due to several developments.

Even though there is quite a lot of resistance from outside parties, such as ETF and other FUDs, I am pretty sure that the price of bitcoin can exceed the $ 9k level this year. if it decreases to reach the level of $ 5k or $ 6k, I think that it is an opportunity to have bitcoin at a cheap price.

Reid

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Then who are those experts? Wink

5k USD is way too low for me. I dont think it will go that far. 6k USD is what I believe is the lowest it could go.
But, given the resistance that we are seeing now it may not happen too. Although if it does then I am all the way to a buy mode without any doubts or regrets.
That is way too low and will have sure profit even in a short time.

STT

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Charts will give better indications then news, how an article is written can change what might start off neutral into being bullish or bearish. Also its hard to tell if people have already reacted to what you perceive as new to you, quite alot of the news I've noticed is written after not before the significant change in the market. This is quite a common mistake but I think its closer to the truth to say news is historical more then predictive and journalists arent trying to make the news so I believe they would agree they record what happened.
The exception to this idea is where a trend is repeating, if we have an iterative effect in play then the news is describing something ongoing. If we had an article to describe weakness in FIAT then I'm interested as its not a one off by far.

The chart today was to meet old volume, most easily or recently observed on the price rise in the spring of this year but possibly also relevant previous years. Of course we are under 200 day average but it did attempt to break up today, so 5k is still possible. I would say 5k is going to be more of an over reaction in price but people might feel its forever at the time, if it happens

veleten

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no , 5k levels are if not impossible , are highly unlikely
despite what some of the analysts were saying , there was no further crash after the 10.500 to 8.000$ price drop
the level is stable and it is not showing any signs of dropping to 7k ish , not even speaking about 5-6k here
while we certainly won't see the promised ATH this year , going from 3k in May to 8k now is good
don't get me wrong , nothing bad would happen if it dropped to 5k or lower , would mean cheaper coins to buy
just as of now I can't see any signs of a coming crash

exstasie

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Quote from: cryptomarketyourself on October 11, 2019, 10:17:13 AM

Two weeks ago everything seemed like we were on a bullish trend towards a 12K mark. Now we're all fearing a 5K resistance level. Thoughts?

https://cryptotradernews.com/crypto-trader-pro/will-bitcoin-fall-to-5k-by-end-of-2019/

My thoughts on this $5K target everyone has been throwing around:

Quote from: exstasie on September 29, 2019, 02:58:42 PM

The bears need to get through some major levels first.

There is a monthly support from June which hasn't been tested yet. On Coinbase, the level is $7,427. There is also the 61.8% retracement of the uptrend in the $7,200s. That's the first area to watch.

After that, we have the apex of last year's triangle around $6,500 and the 70.5% retracement level at $6,300. Then in the $5,400s we have weekly pivots from April and the 78.6% retracement level.

If the market busts through all these (and that's a big "if") then you'll get your $5K.

There's no point predicting whether we'll get to $5K. It's more useful to watch for bullish reactions at major support levels on the way there. If lower lows are on the way, I believe one of the above support levels will serve as the final bottom.

wheelz1200

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Quote from: cryptomarketyourself on October 11, 2019, 10:17:13 AM

Two weeks ago everything seemed like we were on a bullish trend towards a 12K mark. Now we're all fearing a 5K resistance level. Thoughts?

https://cryptotradernews.com/crypto-trader-pro/will-bitcoin-fall-to-5k-by-end-of-2019/

^^^ good insights on why btc could go up and down.

"Experts believe that Bitcoin’s performance will improve as the US-China trade war intensifies or a no-deal Brexit comes closer."

It's basically in the same position as it's always been. Wild swings up and down, what you need to look at is the overall trend and if we are on an upswing which I believe we are. We should have never spiked to 12k so quick this year but it did so this is the correction. Can it touch 5, yup it very well can and it would still be higher than the beginning of the year

illyiller

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Quote from: cryptomarketyourself on October 11, 2019, 10:17:13 AM

Two weeks ago everything seemed like we were on a bullish trend towards a 12K mark. Now we're all fearing a 5K resistance level. Thoughts?

It just goes to show you how market sentiment goes. Rise $1,500 and everyone thinks we're going to the moon. Fall $2,000 and all of sudden we're headed to the earth's core. Chances are the reality won't be so extreme. I don't think we'll make it to $5K. I'm betting that any spike down into the $6,000s gets bought up pretty quickly.

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