Bitcoin went below 7000 USD, it is not known where to stop

bitcad4u

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Quote from: fabiorem on June 14, 2018, 03:43:26 PM

$4800 seems the most likely target. Anything above it may lead to bull traps.

Now the price of bitcoin reaches 6669$ today .This will not huge as compared to 19,000$.But it is the high for the people who had holding from 6245$.They will get some profit from the raise. But I don't think the price will not reach 4800$.My expectation is bitcoin will reach 7000$.

fabiorem

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$4800 seems the most likely target. Anything above it may lead to bull traps.

Idrisu

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This is not the first time that this has happened and bitcoin has fall below $7,000 like two times in this year alone. I think we should see this as a normal occurrence in cryptocurrencies trading and bitcoin price movement as bitcoin cannot continuously going up or down. Ending of Last year we enjoyed pumping of bitcoin price and early this year we are having a very big corrections.

magneto

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Quote from: konstant111 on June 12, 2018, 06:42:59 PM

The week is not starting with good news. Bitcoin price tumbled 10 percent on Sunday, dropping to one-month lows after a South Korean exchange claimed it was hacked. At the time of writing price is under 7,000 USD per unit. Yesterday John McAfee claimed on Twitter "it is an overreaction to the news that Bitstamp, Coinbase, itBit and Kraken are being investigated for price manipulation". We will see. In the meantime, let's see what's hot in the following weeks, and I would like to start with a couple of cool giveaways....

It's probably not exactly caused by just an overreaction alone, however, that could be a catalyst in driving prices down. The main reason is still that we are simply not in a bull market, and the sentiment in the market has shifted to bearishness.

But things such as the investigations he talked about, and the hack of the Korean exchange, all contribute to short term dips. But it doesn't really change the overall trend.

I think that there is probably still some time to go before we can say that we've bottomed and are entering a stage of recovery. But imo, bitcoin will go down to around $4k as a bottom. But any price under $7k should be a good level to buy at for the long run.

pooya87

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i do really think that the South Korean exchange hack was just a coincidence with the price drop. it might have scared some people enough to make them sell and deepen the drop but it wasn't the cause of it. i don't think the investigations is the reason either because if it were then they would have stopped the manipulation instead of intensifying it!

livingfree

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Quote from: konstant111 on June 12, 2018, 06:42:59 PM

The week is not starting with good news.

Not only this week but ever since this year has came in, there's a bad start for this year.

Quote from: konstant111 on June 12, 2018, 06:42:59 PM

Bitcoin price tumbled 10 percent on Sunday, dropping to one-month lows after a South Korean exchange claimed it was hacked. At the time of writing price is under 7,000 USD per unit.

Everyone's blaming Coinrail's incident of hacking for this and everyone's hoping for a quick recovery just like what bitcoin do and surprises us before but it seems to be different this time.
As I type this the price of bitcoin = $6,235.

Quote from: konstant111 on June 12, 2018, 06:42:59 PM

Yesterday John McAfee claimed on Twitter "it is an overreaction to the news that Bitstamp, Coinbase, itBit and Kraken are being investigated for price manipulation".

I'm following any of his tweets now, if his posts are like this and not about shilled coins I may follow him again. I don't have an idea about the investigation about the price manipulation. But I've heard it before and it's on the news about the 2017 high's.

Quote from: konstant111 on June 12, 2018, 06:42:59 PM

We will see. In the meantime, let's see what's hot in the following weeks, and I would like to start with a couple of cool giveaways....

What's these cool giveaways? Grin

mozers

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Yep it's very bad to start a week. In the market just red and red. I think it's time to shutdown computer and start walk with own dog )).

rizkyhiw

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Quote from: konstant111 on June 12, 2018, 06:42:59 PM

The week is not starting with good news. Bitcoin price tumbled 10 percent on Sunday, dropping to one-month lows after a South Korean exchange claimed it was hacked. At the time of writing price is under 7,000 USD per unit. Yesterday John McAfee claimed on Twitter "it is an overreaction to the news that Bitstamp, Coinbase, itBit and Kraken are being investigated for price manipulation". We will see. In the meantime, let's see what's hot in the following weeks, and I would like to start with a couple of cool giveaways....

do not know clearly all the hot news that exists today, it is true, obviously there are currently some people who panic and do not want to take risks, maybe this should happen at the current market price after the stable price is long enough, on all existing altcoins, quite a lot of correction takes a long time for the price to return to be good in a few months, then be patient for all that has happened to the decline, which will surely happen because the price fluctuates it is very applicable in a very fast, smart time in taking advantage not to harm yourself.

TheAndy500

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Quote from: jurgen444 on June 13, 2018, 01:47:13 PM

when bitcoin prices fall, then altcoin prices will follow. and in my opinion there will be panic sales that cause bitcoin prices to continue falling to the range of $ 6000 - $ 6300, this situation will last until the end of this month.

But thanks to that people who just sold their coins there are some new investers who are just waiting for price drop, after that they will invest their money and price could just go up again.

Spellwing

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I think the only correct option now is to wait. If people start selling Bitcoin now, this will further lower the price

jurgen444

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when bitcoin prices fall, then altcoin prices will follow. and in my opinion there will be panic sales that cause bitcoin prices to continue falling to the range of $ 6000 - $ 6300, this situation will last until the end of this month.

Katabit

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ENTRY cryptocurrency

Now an excellent price to buy, you need to take advantage of the situation and buy as many coins as possible.

alient86

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This is really very bad news. Now a lot of investors will start to panic and sell their savings. And this could drop the rate by another tens percent

Vieni

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it may go down in my oppinion below $5000. well if that is the case it is time to accumulate more. it's like a black friday sale event

Jayyzz_promos

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I honestly believe that the manipulation of the BTC market is a very true sentiment and it is partly the reason why many outsiders looking in don't want to invest their hard earned money not knowing what it will do being so volatile in this bear market. It can also be said a lower priced BTC can also be jet fuel for those itchy fingered outside investors who want to join the cryptosphere for a much better price whereby the chances of being at a lost are fewer as the only direction from the bottom is up.

Fendi23

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Quote from: bird17 on June 13, 2018, 08:19:58 AM

no one knows how low the price will fall, but if panic sweeps the whole market, the price may drop to $ 5000

hope will be up,and don't panic and will be make sell your coin.
because when we all panic and sell only make the price if all dropped.why always korea make a ussue how make prive dropped

sehoon

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I don't think that the exchanges can manipulate the price because at the first place they weren't the one who made bitcoin. We should be aware that the price of bitcoin is really volatile. We shouldn't be worried because there will be a lot of good things ahead and we should trust our coins.

slaman29

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What's strange to me is that even with the investigations going on on all those three/four exchanges, what the hell does it matter to the rest of us anyway? I don't use any of those exchanges, and I bet very few people on this forum do as well. I bet even John McAfee himself doesn't trade on those. So this is yet another proof of "they don't care, they just pick up on the news and follow the trend".

Keep on coming FUD. Cheap coins.

bird17

newbie

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no one knows how low the price will fall, but if panic sweeps the whole market, the price may drop to $ 5000

efodix

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Nobody can say exactly when it is the lowest point of getting down. The only one truth is that the upfront trend should appear, sooner or later, we just need to be patient.

Topic: Bitcoin went below 7000 USD, it is not known where to stop (Read 260 times)