Topic: Bitcoin below $3000: "Good buy" or "Goodbye"? (Read 2124 times)

According to some people that inclined on cryptocurrency and cryptocurrency enthusiasts that this year bitcoin will be stabilized on the range of $4000-$5000 upward, but i cannot assure with this assumption, since a lot of big companies may have the potential to bitch out and do some jerky moves like what JP Morgan did.

43 people here thinks that now is good time for buying, including me. In my opinion option goodbye wasn't possible, I don't understand where this 3 people come from. Bitcoin is up again and still price is for good buy, I said price until the end of the year will be 7000 dollars or more, so when ever you buy until then you will make profit. Bitcoin is not easy to kill, and some news can make panic here among bitcoin users but not to all of us. Bitcoin is good for holding and people who sell it should do only in a need for some cash, but of not save until bitcoin gets to some higher price because that is coming in next few years. Bitcoin is main topic on all continents, in all cores of society, and is it good or bad is not important as long as they spell Bitcoin correctly, do you know who said that first?

the $3000 marks is the right time to GOOD BUY in bitcoin, in my speculation bitcoin will not down totally in #2500 marks. so in that state, its a big opportunity to buy some bitcoin. and hold it until the bitcoin will rise at his $4000 marks.

@e-coinomist:

I think he refers to the fact that after the "exchange ban", there will be still a lot of Bitcoin supply originating in China because of the miners, but much less demand because the "ordinary public" will be excluded from Bitcoin (well, some tech-savy nerds and people with special financial knowledge / rich people who can afford international transfers will still be able to "get in" but most others not). As the miners will have to sell their BTC in neighboring countries (like Taiwan, what you mention), these markets could get out of balance and get bearish.

As Bitcoin is still inflationary (and thus to hold the price, we need more buyers than sellers), that can have a (short-term) bearish impact in western prices, too.

In general, I don't see too much signs for a return to the bull market in the coming months - I still think we're in a bounce, and I have predicted in earlier posts that the "cat" can go well over $4000. At about $4300-4400 I would begin to doubt if we're still bearish, but to return to the bull market, technically $4970 must be broken

His "paying the energy bill" concerns are on spot, but solveable. Back again on that example mining collocation, they have absolutely no trouble moving their BTC out of China, onto some Taiwan exchange site. I know which they do use, but that's not for this thread.
Buying goods in Taiwan, exporting them into China. Let's say "rice" for heavens sake. Some day China will have to ban rice?
Selling rice, getting Renminbi in exchange. Paying them bills with that. Accomplished.

A nonissue.

The other are sentiments and technical charts. Such a punch as we experienced lately could very well get employed for squeezing out the competition, further concentrating the markets onto a smaller subset of active players. This would form out as a bulltrap following the last ATH. Copy-paste 2013/2014 charts onto today, will look similar.
Just if we are approaching a bulltrap, it's still "Good buy" just now. Something swaneyblackish like Segwit2x Fail later onwards could get us into a hurry, again.

I think I agree on what you said sir, it's time to buy bitcoin because their price now is fall down. Also it was started to raising up again, I believe that on the next year 2018 bitcoin value was raised up into $5000. Moreover I was not panic when bitcoin value decline into $3000 because I trust to bitcoin and I know their potential in terms of marketing.

Definitely, It is a good buy a bitcoin drop that made bitcoin's price touch $3000 is an awesome opportunity  to buy bitcoins. and I do not think bitcoin will ever touch $2000 or lower but i am not sure with this, as we can see as of now, if bitcoin dips it will just temporary and immediately it will rally up again to stabilize it's price between $3000-$4000.

The current exchange rate of $3700-3900 is again slightly in "bubble" territory. But at a price of under 3000 USD I think it's a good buy for long time investors with money they can afford to lose - those that can forget the coins for some years and then profit when Bitcoin starts the next bullish cycle.

But I think that very likely the $2900-3000 range we saw three days ago will not be "the bottom" (I pretty much agree with this post of ParabellumLite). I expect the bottom to form in the first half of 2018. The bottom (most probably, if there's no bullish or bearish black swan event like an ETF or a fatal bug) can be anywhere between ~$735 and ~$2300, and I consider the $1300-$1850 level the most likely one.

But Bitcoin will only stay at that bottom for some days or, at most, some weeks. Most of the rest of the bear market Bitcoin will be much higher (2300-3500 area), with dips and "intermediate bubbles".

Hodl and buy the dips! Buy into paper wallets or physical (collectable) coins, that way its easier to hodl the btc. If you hodl on an exchange then you are too tempted to trade  

Good Buy bless you China and all fuders,bitcoin will recover and at the end of Year we will have new high
China is not so much important for btc than all people think.Japanise mining company has 90mln$ budget to start his oparation

Just by looking at the daily chart of Bitcoin right now I see that the volume is still high for it to be considered that it is losing its demand. Also seeing what happened to Bitcoin in September 15, 2017 (which a huge play happened) which Bitcoin has dropped down to 3000$ but it quickly jump back up to 3800$ and closed the day at around 3700$ obviously seeing this traders are not yet done on their profit taking, after all is done and everyone has bought Bitcoin at the bottom, I assume the price will go back up to 4000$ again.

Bitcoin prices have improved considerably in the last day. There is a positive stigma obtained and this is evidenced by the increased volume of bitcoin in various exchanges. For those who buy bitcoin at rates 3000 $ then it is a very good choice. Good buy and you get many benefits.

Yes I believe price will recover and it is time for a good buy. Even price is not that yet stable to buy at downtrend it will recover for sure. So buy btc while we can and hold for a long term to gain profit.

Well I'll go for 'Good Buy' as market is still recovering and bitcoin price will surely go up. So at this time it is a great chance to get more profit by getting it at a low price as it has a lot of potential and will definitely rise soon...

Answering on bullet 3 first.
Bitmain's mine employs roundabout 50 workers, according to some nytimes.com foto feature from this month.
They represent about one-twentieth of the world's daily new BTC or $318,000 dollars a day, at the time of print.
Each person is allowed to export 50,000 RMB or $7,201.
(This value has been 200,000 RMB two years ago, PBOC getting more tight)

So without hiring any money mules they could move 50x $7000 = $360,000 on their own, which is more than BTC production. Assuming they are not mining at a loss, costs < revenue

Oh wait, that rule by thumb calculation lacks timeframe. Daily versus yearly, I think those 50k yuan are an annual individual quota. Hiring mules makes things expensive, but at least there are enough chinese living in china who are eager to earn a buck (about a 10 digits figure). They need twelve 365 times more people than those fifty, just for one single tasks once a year, transfering money from Korea where the BTC got sold back into china. That could become a common job opportunity in 2018
    
Damn politics!


Bullet 1 and bullet 2 are actually identical, since "crypto investment funds" are equal to "Western markets". However they might want to buy in as cheap as possible, hence that dip vom $5000 down to $3000 which is a loss like -30% and got pumped back in a hurry once even daring to touch below $2900. A second bounce on that line would make people more confident?

I'm not worried. My bigger concern is all Segwit2x the 2nd part.

pretty much this, with or without china BTC is still the same so it's surely a good buy

It is not uncommon for the market of any asset to be bearish at one time or the other and yes in the coming month, as a result of the proposed hard fork by proponents of Segwit2x, the red line in the image below may be breached, but beyond that a huge rebound as always should be expected.
https://bitcointalksearch.org/topic/m.21909403

Obviously recent goings-on in the community and market already have answered all your questions and just in case you still want more:

1. it is the global market and not just the western market that are out and already absorbing every Bitcoin China is letting go;

2. Bitcoin is now legal in Japan and South Korea and companies are springing up, by the time China wakes up from their slumber, they would find themselves miles behind.

Today is a perfect time to invest because bitcoin price drop but it is now recovering, but for me it is still a good buy, and wait for the price to rise again. I think it will still rise and recover so better to invest today.

Apple is a nice company. Bitcoin is a nice cryptocurrency. If If banks/government threw everything they could at Apple, and the stock plummeted 33%, would you sell, buy more, of HODL the stock? I will be holding on to my BTC and buying a little whenever it falls under $3000. Wish me luck!

i already vote about bitcoin   "Good Buy".  of course it is a great chance for us for buy bitcoin at low price and get a lot of profit by hold long.  it is good time for investment also for those people,  who was unable to buy bitcoin and miss a chance before. i think bitcoin will rise up soon and will be able to recovered its loss

It depends on how you handle your bitcoins, if you think it is just another pump and dump coin and you don't value it that much then it is goodbye for some. But if you hodl and think positively and of course think this coin is a good buy now that its price had lowered then we have the same thinking.

From 3k mark Bitcoin has suddenly being the Good Buy coin instead of Good bye . It was really a bullish market from there as it has reached 3800 and then now at around 3500 mark . I feel that this should move forward from here as market has already fallen and should reach 4k In coming week .

Indeed. It really depends on whether you think that this bearish market is going to continue into the next few months/years or not, or will a bull wave just recover all the losses made in this round of dumps.

Personally I think that the 1st option is much more likely right now considering there are simply so much bad news, especially from China which still has quite a large influence over the bitcoin market and exchanges. But i think we will see price rise up to $4k+ once again, before a real bear market sets in.

Personally i don't believe that weekends/weekdays have anything to do with market trends.

Short term should be a great buy. The price floor is set in stone so it seems at $3000 right now so anything significantly below that will definitely attract a rebound as soon as the panic stops, to around $3.5k+ levels.

Though in the next few months if the panic ensues then this floor could adjust down and make it a bad decision.

I would say that if btc does go down below $3,000, by with 50% of your funds so that you have buying power if the floor gets decreased.

polls like this are mostly unreliable because people may mistakenly vote for something else, people may troll and also there are always a lot of FUDsters alone who will vote the only option that helps their FUD. you think someone like KuwkDuck is going to vote for good buying opportunity? of course he will spread FUD and he is not alone.

in any case the dips like what we saw 2 days ago where price went below $3000 to test was the best thing anybody could hope for an investment chance. it is like the previous times when a dip like that happens. it only lasted a couple of minutes and soon after the fast rise started and price was $800 higher in minutes.

It is definitely not cheap, but it is better priced for buying than a few weeks ago (I don't feel great as I am one of the people that purchased a tiny amount when it was way past 4K, but I needed it to invest on an ICO - which I ended up not doing - so now I am just hoping for it to continue to rise). I might be tempted to buy a bit more right now as a long term investment, and not for ICO investments (I think I will stick to ETH or LTC, when accepted, because since the price isn't THAT high, it doesn't feel that terrible when the price decreases).

For those of you with more Bitcoin or exchange experience, does crypto currency tend to increase or decrease during the weekends or are the price fluctuations too unpredictable?

It's not goodbye, this is the right time to buy bitcoin, we all know that bitcoin has a potential already to reach until $4300, and more. So this is the right time to buy and hold bitcoin to gain more income in the future. $3000 still a good amount and we can't deny that bitcoin already prove a lot right now.

What you're talking about is still an opinion not a fact, on what basis do you believe that bitcoin will reach $ 5k. We should analyze the possibilities and the latest news about bitcoin or crypto currency before arguing about the price.

The price went low to $3000 in unexpected time and once again this has started to  increase and reach a value above $3500. This time the price might grow and reach the long expected $5000 mark. Irrespective of the issues growth is something assured with bitcoin, so it can be considered as an buying opportunity.

So out of 30 votes, there are 10% who don't even understand the investment they are in. Why people fail to understand the potential of cryptocurrencies and what market they are disrupting. If these small rounds of negative news are enough to panic them, then they better say goodbye. Cryptocurrencies are targeting a billion market of internet users. Potential is way too high. Price will definitely increase in long term. We should understand that we are lucky enough to get Bitcoin at still an affordable price.

I think it is still good to buy. Indeed we are having a hard dump as of this moment but I believe that it won't be permanent such that eventually pumps will take place. We lose a big investor which is china so this thing is already expected. But seeing Bitcoi recovering little by little, there's still hope that it will make its way up again. And with that, there'll still profit on investing to Bitcoin. So we should buy Bitcoin during this dump to make profit out of it when its price is back to normal.

Well i think it can be rise up again even we are not lucky to buy when the price hit 3k to be exact..
We are still lucky if we can by bitcoins right now and holding them for a long time i think wait for a month to see that the price of bitcoin can be hit back again in $4k value or i think the price can be burst increase if exchanges in china will be start running again ..

As you see in your poll, most tend to say "good buy". Transfer the results to the whole community and result will be similar. The little down can't stop the great future of cryptocurrencies.

But it's not getting lower than $3000 anymore i guess and your best hopes is to buy at some lowest price that you'll see. Bitcoin is rising again so it's not a good idea anymore to buy to gain some profit. If you are planning on to invest in long-term it could be the best way. Just buy now and hold it longer so you can get your profit doubled in the future.

For sure those people bought yesterday when the price below 3000 dollars are now very happy because they can earn profit. Ita good for shorterm. We dont if the price decrease again or continue to increase in the next few days but I hope the price will recover from the dumping or crashing. I hope we see the price of 5k dollars before end of this month of september. Buy more bitcoin guyz and make a loy of profit.

If bitcoin pricr down at 3000 dollars or below its better if you buy bitcoin. And for sure if you buy bitcoin in cheap price they have possible that you earn a lot of profit. But it depends to you if you want to buy bitcoin or not. But invest only you can afford to lose because we dont know when the price decrease or when the increase. But as of now bitcoin increasing again and for sure it will recover again .

Well, in my opinion, it is still a good buy. Backdrops are normal because Bitcoin is volatile. This one's a bit hard ofcourse, but to think how bitcoin grew in a short period of time, we should not be afraid of declines on its market value because eventually it will rise again. We just need to patiently wait and trust Bitcoin's greatness because it will overcome this problem soon and will again rise over the fall.

Bitcoin good buy below $ 3000
I think the Bitcoin will recover again with $4000 price, then it will continue to grow slowly.
If there are many more good news, I thought BTC will increase faster than expected

This has proven to be a good buy for anyone that bought below $3000. I thought that the markets probably overreacted with the news and i bought some myself though i haven't timed my trades perfectly so did buy at a more expensive price.

I think that the recovery should take us up to more than $4000 right now, though i'm not entirely confident that it's going to stay that way.

It could be possible that price is just going to go up and then down in a major way. This could be the bull trap.

Right now bitcoin has rebounded back up to $3800.

I have bought some coin at just above $3000 and it's definitely paying off for me. wish I bought more.

However, we have to be careful as Chinese exchanges are going to be gone in a month or so and that could cause quite a stir within the crypto, especially the chinese crypto community. It could mean the start of another bear trend. Although you can definitely argue that most trading is done p2p anyways, which is true in china.

I think the price of btc reaching 3k $ is a blessing to me because I selialu want to multiply my bitcoin, but the possibility of reaching 3k $ is small

When the price below $3000 is a good buy and now still a good buy, this falling price is because the china users decreasing, since bitcoin already got alot of users and a lot of people waiting the price to become lower to buy, so I dont doubt it will rising back again, so it is a good buy

Turned out to be good buy. I can't believe so many weak hands got burnt again. Everybody needs to stay a lot stronger during bad times.

masterluc sees a recovery to $4200, then a down-trending zig-zag for a while with possible lows of $2300 (in 2018).
I kind of agree. China aborted our run which should have ended at $15-20K.
No matter, it will happen in 2020-2021.

One year ago, it would had been considered impossible to have bitcoin at 3000 usd. If you belive it will be mass adopted, it's always a good buy. If you think it's going to fail and it's overvalued, it won't be a good buy even at 2000

good to buy but less down a bit, do not think goodbye, a long as there is altcoin that uses bitcoin as a means of transportation to paper money then bitcoin will never die.

Indeed, if you think the panic seller will make the price of Bitcoin drop more after drop to strong support price like $3,000 , you are wrong. Although the price of Bitcoin has dropped bellow this price, but it does not mean keep in this price forever. Investor will know best bottom price in this cycle and they will comeback to buy Bitcoin.

Cheap? I don't know about that.  In a purely relative sense, maybe, and only if you use the last 4 months to compare it to.  That's pretty short sighted if you ask me.

On the other hand, I think we're on our way back up and may surpass $5000 sometime soon.  I have to add my voice to the echo chamber here and say it probably is a good time to buy.  Go for it.

Bitcoin value now is started to raise up again, fall down of bitcoin price is an opportunity to all investors that fully trust in bitcoin.

I also took this opportunity and bought a coin. And now I see how the price rises again. My purchase was really successful. Thank you bitcoin

It was indeed a "good buy" option. Bitcoin fundamentals are the same, with or without China, so a $3000 btc was an opportunity to buy at low price.

both

it was good buy for those who have been thinking ahead and placed some orders below the price since it only lasted like a second!

and goodbye to those who were listening to FUD all day long instead of using their brain and experience to make proper plans according to the market movement not the what the comments written by some random unknown troll on the internet told them.

I say It is a good buy for me and all of us that needs bitcoin badly, because after this drop we can surely see the big leap again, we had just recovered from the painful affliction of china to us, but I think some Chinese feel sorry and could not do anything about it, I have known one that are deeply sadden about the fall of bitcoin.

Of course this is a Good Buy. It's not everyday that you can purchase some Bitcoins at a lower price isn't it? If the price gets even lower then it would be a "Great Buy". If you intend to wait a little more, it might get you disappointed. Sometimes waiting too much will make you lose your opportunity. So if the opportunity comes, it is best to grab it and wait not too long.

Yup - the rise from $3000 to $5000 was just too fast. If it stabalises at $3300 or so, that will be a result.

It's actually a good thing that China is closing it's exchanges - they were never going to allow adoption there (they'd already banned merchants from accepting it), so it was only ever a token for gambling over there.

for those who have a large capital and dare to take a certain risk this is an opportunity. because when bitcoin prices increase to a $ 4500 rate then they can get huge profits. but when prices continue to decline then we can only say goodbye. in my heart bitcoin should be able to grow much better, we just have to wait for all this. but without any patience then we can not wait and have to make decisions fast.

LOL, even if price went below a lower price, it wouldn't have been "goodbye"! it would have been a greated opportunity to buy bitcion at an even bigger discount!

and so far it seems like swings are mad, the below $3000 was like a rocket fuel that pushed price up to $3500 all of a sudden

I am really going to save this one. You are probably one of the most well known permabulls on this board, and I will spam you to death with  this kind of dangerous talk  if doom descends unto Bitcoin.

Didn't took too long until the answer was clear: was a good buy opportunity, sad for those who hesitated or woke up after the recovery

Four years from now, I have no doubt that we'll see $15-20K/btc.

That is all.

Possibly but people should see that as a good opportunity to load up rather than be a bitch & panic sell. I see threads from newbies all the time complaining about getting into the game too late. Well your chance could be coming soon gentlemen.

Prices are going down fast now, it comes from their trust. after listening to the words of an experienced man who is famous in America. People are starting to doubt about bitcoin, so they sell it as quickly as possible. But to me, this is a good time to buy.

Wait, the price will go down to 2500$ at least

I am a big bitcoin supporter, but this was expected the way the Bitcoin price rose. There was a massive pump in my opinion, the max stable price i expect is around 1800 dollars. There was no significant breakthrough in bitcoin which could have caused that rise. Plus the recent China ban has made the situation worse. Fingers crossed for the next two months.

You aren't guaranteed to that - at all. You cannot be sure, as the situation in 2017 is completely different than late 2013/ early 2014. There is simply way more competition out there, and crypto funds have also shifted their attention to those options.

Bitcoin can easily lose on technicals, as it is outdated and vulnerable. It is also highly centralized due to how Bitcoin mining works and no longer anonymous, therefore having already lost its major selling points of the past.

Also, to finally address the greatest mistake you make: an asset cannot appreciate forever. At some point a top will be found, after which price consolidation will start. I believe we are there now, and this is going to take a (long) while.  There are plenty of permabulls here that have lost all sense of reality, as they figure that Bitcoin will continue to appreciate forever. It will not.

And don't even get started about Japan: nearly no one is using Bitcoin there, or anywhere in the world in that sense, at least for buying stuff, and the 12 or something nodes in Japan are further proof to that.  All of it has been blown out of proportion, and hordes of people have been played - again.

$3,000 is just where we were a bit more than one month ago, so stop panicking like it's the end of the world. We may go lower if more people will decide to panic or if there will be some more real FUD, but keep in mind that selling can be as dangerous as buying - Bitcoin can reverse its direction at any moment and sellers will turn into losers. Now is a good time to start buying - maybe not everything in one time but continiously. Bitcoin will go up in the future, it's technology hasn't suffered any damages, it only keeps getting better.

Goodbye in my view.

I do not expect BTC to  cross 2500 already: there will be probably be another leg up to the 3500-4000 USD range, before the real bear enters the game and confirms the bear market at 2500 USD.
People here are consistenly underestimating the risks they are running with respect to their investment. Relevant questions like the ones I am about to pose aren't even answered in practice:

- How much Chinese BTC can Western markets absorb?
- How many dedicated crypto investment funds will keep BTC in their portfolio long term?
- How will Chinese miners pay the energy bill, when they can no longer easily exchange their BTC for RMB?

There needs to be way more attention to such questions here.

Bitcoin below $3000 is absolutely a good buy,
It's not the first time we saw something like this before,and many people always afraid about it.
A lot of rumour,fud came up from nowhere like a month ago when we're facing chain split.
Always do the opposite,they said it will be huge blow and we will see Bitcoin under $1000 or else.that mean it's a time to buy,the market always moving to the opposite side of the trader speculation.
So i believe it's a good time to buy and hold

Great opportunity to get in cheap. (Good) buy and hold has always been the winning strategy.

Now that Bitcoin is hovering around $3000 after reaching a price around $5000 a couple of weeks ago, do you think this a good time to buy (Good buy) or a time to say Goodbye to Bitcoin?

I think it's time to start buying again with this drop. You can get Bitcoins much cheaper than a couple of weeks ago but there are some things to consider. It's possible that Bitcoin won't recover or it could take a very long time. The price could go even lower before it goes back up so maybe we should wait a little longer to buy.

What do you think?