Topic: Bitcoin Will hit 5500 ? (Read 875 times)

Not a good strategy for day traders. But yea bitcoin is bound to hit new ath so get it while it’s cheap stack’em sats

when everyone is waiting for a high price, don't think negatively that the price of bitcoin touches the price of $ 5000. OK, that can happen, but the potential is not yet visible. however, bitcoin needs to pass the $ 6k level to get there.
rather than thinking negatively that the price of bitcoin can go down to that price, you better focus on collecting bitcoin so that when the pump occurs, you do not pass the train to this month.

Market getting crashed and leading to massive fall in price can happen anytime which is quite common with the market. As we've come close to the year end with just a day left there won't be massive drop in the value of bitcoin reaching low to $5500. As most users predicted possibly the year end will gets closed with $7500 market price. Few altcoins will show much manipulated growth by the year end while majority shows gradual growth.

well after the double bottom at 6500 dropping down back to 5500 might be devastating for bitcoin. Many people expect the 6500 level to hold because the halving is near. If that doesn't hold and we go to halving with bearish price action, many people might sell out because it would be an indicator that the bull cycle might not happen this time around.

However, I would expect the price to go up from now on just because of how much suffer there has been in the market lately, having a few longs open with the stop losses just bellow the 6500 support. Hopefully that's gonna make me some bread

to go down to the price of $ 5500 is still very possible for bitcoin. at this time bitcoin is still not completely out of the bear market, and the price can drop significantly at any time. but this won't happen anytime soon, I'm sure this year the price of bitcoin will be closed at $ 7500.

Definitely, it was a waste of time waiting for it cause it seems to be impossible to reach that price even next year. If really we want to invest Bitcoin, let's consider the current price is a big opportunity by then. It seems to be not impossible that that market will rise next year and taking the price today is good enough to have gains in the coming days, might be having 50%. Not really bad.

If you wait for the lowest point of $ 5500 long enough to want to when it happens and I don't think it will reach that low, the increase after Christmas shows that bitcoin will go towards $ 8000. I think it will reach that level and indeed the market is starting to recover.
Pretty good if now put the price at $ 7100-7250

if you really want to play safely, my advice is to wait at the $ 5500 support point, but Bitcoin is currently experiencing a pretty good increase after Christmas, I don't know if we will see $ 5500 or maybe we will see $ 9,000 in the future, better buy gradually

Just Dollar cost average on Dips. Probably repeating myself here a bit lol.

I'm currently patiently waiting to long $6.9k (0.618 fib of $6.4-7.7k move as well as stop area for longs opened in low $7k’s) even though it looks like we may have a shot on forming big ass H&S with target of $6.5k by end of the week or early next week. In that case I think new low will be reached shortly after. Move sub $7k or above $7.5k within the next few days invalidates potential H&S.

Then it looks like there is another good time to invest and buy more bitcoin if that happens. Buying in a small amount of bitcoin is really a big advantage to big investors. If that is true then that is good news to those who are waiting for dips but not to those who are waiting for the increase of value. It has a bad and good impact on each and every one of us.

According to you bitcoin price may hit $1000 tomorrow. Like you said "you never know", then how are you guessing the price of bitcoin. How do you know that the price of bitcoin maybe "$7000" if you never know? Stop predicting and giving random suggestions to the people online. You are just putting them in danger.
Others saying that halving will cause massive rise to the price, please look at previous halving and then share your "wisdom" over here.

But percentage wise, you'd have to invest much more capital to get that same exposure at $7,000.

Let's say you have $5,500 to invest and price is $5,500 = 1 BTC. If you put that same capital in at $7,000 that only nets 0.7857 BTC. So when BTC hits $100K, your position will be valued at $78,570 instead of $100K.


Indeed, this makes for quite the dilemma. Keep waiting for a better entry or risk missing out? It's an age old question.

When Bitcoin is at the old ATH at 20k, and you look back at the time you bought at $7,000, you won't be saying: wow, if only I bought at 5500, because now I would have made $14,500 instead of "only" $13,000.

And then, after ATH is breached and we see who knows, $100k? Will you be sweating over making $93,000 instead of $94,500?

Wait more and you'll miss out on 7k even.

There is huge possibility of bitcoin going to $5500 or may be below that. Bitcoin started this year with $3200 and may close this year around $7000. For those who wanna buy bitcoin at dip should start buying around $6000. You never know whats the minimum for bitcoin.

There is a possibility that the price of bitcoin to go down at around $5,000 per each. If the price of the bitcoin breakdown in its current support level at $6500, then it is sadly to say that the price of bitcoin will gradually decrease again. There is a role reversal will happen if the breakdown occur where its previous support at around $6500 will become its new resistance. My strategy is depending on the price action so I keep monitoring the price of the bitcoin.

By now for sure there's no way we can see those figure coming up and we are almost ending this month so provability of the hype to start up will come next year and maybe we can see those slow changes of the price since the halving will give a good fuds which could ignite the FOMO on the ecosystem. So maybe we can really reach on $8,000 soon since this is quite reachable as of now.

I'm not sure Bitcoin will reach $5500 this month, as I saw in my technical analysis, the second support line is priced at $6000.  whereas now the price is above $7000 and the Parabolic SAR indicator is still pushing from below in the sense that the bullish trend still exists.  so I think the possibility of reaching $8,000 until closing this year is still possible.  we need to see it until we really reach the new year.

nope,though we fall to below $6k yet not enough to hit back to $5.5k and now we are staying strong at $7,000 level. lets hope we wont hit 5k level again since we are near closing to May 2020 when the halving is expect to happen again after years of waiting.

I personally think that during the next months it will be entirely possible to get bitcoin for a price of 5500 but I do not think that anyone that buys bitcoin for a price of 7000 is doing a bad business at all, it is just that it is going to be more difficult for them to obtain profits during the next months because I really believe that the price will go down a little bit during the next months, so we are about to see one of the best opportunities that you could have to accumulate coins and after that we will see the recovery that we are expecting.

$ 5500 doesn't seem to be going to happen at the end of this year, Bitcoin bounces down support,
and making the price go up to more than $ 7,000 is great for this Christmas

I wish it can go down to that price of $5500 so I can buy some more bitcoins but it didn’t look that it may fall to that price. Seems 7000$ is a strong rebound for Bitcoin. The latest news are that bitcoin is moving up, which is good sign for folks who bought at recent decline.

We have already seen price of $5500 this year for bitcoin and it may go down to $5000 again. From latest pumping of bitcoin, chances are that bitcoin may not go to $5000 but to $9000. I am ready for both, down for buying and up for selling. Lets see what comes first

looking at the development of the current price of bitcoin I think bitcoin will not fall at $ 5500. because the low point of yesterday's bitcoin price was $ 6400 and then bitcoin went back up to $ 7200 and is currently back up to $ 7600. I think that until this year, Bitcoin will be in the range of $ 7,000 or $ 8,000. hopefully in 2020 bitcoin will start pumping and enter the bull market.

Seems the prediction was wrong since the last drop of bitcoin still holds its position above $6400 then quickly rebound to $7000 levels. The weather on crypto-space has changed recently, we're heading towards a higher point, to reach $8000 sooner or later. Judge by the market condition, the price may fluctuate a bit before breakout the resistance level of $7800.

Looks like it aint gonna happen this year anymore, BTC is going up in the last 2 weeks of the year and that's a good sign for a great start next year.
Market is volatile but glad the support is good, as of today, bitcoin had 4.57% per https://coinmarketcap.com/...  so it's not likely to go down anymore.

remember, halving next year, so maybe more hype waiting.

The short term is still somewhat murky. It's possible we've already carved out the bottom though.

The weekly candle is about to close as a hammer, which is a bullish reversal candle. The daily is printing a $300+ mark-up into the close and retesting the range highs, suggesting an upwards break may be imminent. The 4-hour has already triggered an upside BB squeeze. So all the higher time frames are looking bullish at this moment.

We just need some follow-through.....

It highly depends on what we end up doing when we crash after having touched the $50k mark. An 80% crash after a peak within crypto is quite common, so deducting 80% from $50k leaves you with $10k flat.

We need the price at +$100k levels to be somewhat confident in saying that we will not talk about $10k again, and who knows how long it will take for the price to get there. I will definitely cash out most of what I currently own.

I could definitely see the lower $6000s happening and maybe $5500 because it seems like we're still stuck in a mostly descending pattern of lower lows and lower highs, though I agree that we've started to find support near the $6500s and there's been two failed attempts to breach that area thus far. Support doesn't hold forever and it's completely possible we just hold around this area and break downwards later, but I also agree that sentiment seems extremely bearish in many places at the moment and the selling might start to relent soon.

strong support is at $ 6500, hopefully it won't break, I'm sure Bitcoin will survive in this zone,
$6500-7500 we will see until 2020

10k is nothing. It's only 50% of ATH. It's the same as $500 in 2014 and 15. Would any of you say that 500 dollars was an important level on the way to 20k? Now nobody even mentions it in the TA or as a possible low. The lowest low mentioned in the tA of bearish traders is 1k and even that is a rarity, most see 3500 as the bottom and expect nothing worse than a double bottom at that level.

In 5 years nobody will talk about 10k when we're at 50k. this fall from 7k to 6.5 we had in the recent weeks will not even be just one small candle on the chart. You'll need to zoom in to even notice it.

We will not see a stable market for years. Before and after the halving we can expect turbulent times, the price can rise, the price can drop really hard after that, who can tell where is the next top and where will be a new bottom, nobody. I will save my Bitcoin for some higher prices, probably that will be for after the halving.

if it cross 6500 does not mean that it will continue soaring high but there was still a small risk/chance of the price to plummet   .  that can likely  happen on the next cycle  .


oh really  ? this might be true because the price were now heading that way  . currently the value was back again at 7k and hopefully itll continue to atleast 9k usd by the end of the year   .


no it itsnt . 10k usd was a small price compare to what btc have achieved before  so its not surprising to see that happen   . infact people are expecting more about what btc can do  .

We are struggling to cross $8,000 mark again it's hard to believe that we have already crossed the mark of $10,000 twice this year because those were shortlived and the fact remains the same that bitcoin can go either way as it might go below $5,000 as well as above $8,000 within a short span of time if the whales and traders decide to turn the tide as they did in the past. I don't think we will see a stable market situation until the end of the halving post which the prices are expected to pump.

Oh no. But since it reached down to $6k last few days, it can be possible to hit down to $5,500. We still keep on holding. Not all the time we will experience this kind of bearish moments. Speculations saying that bitcoin will still have a high chance to go up next year to $20k. Lets just hope for the best since halving next year will coming soon.

it seems that $ 5500 won't happen for now, $ 6500 has already been passed and bitcoin is now above it, maybe later Q1-Q2 Bitcoin is accumulated at $ 6500- $ 8000 before flying after halving  

Possible. There are two bullish scenarios I'm considering in the short term:



The aqua path is the impulsive scenario. It calls for a 5-wave advance that would likely test (and temporarily fail at) the descending trendline from the $13,800s. This scenario suggests the bottom is in and the early 2019 bull run may be continuing.

The red path is a measured move target. It's the conservative target that assumes this November-December consolidation is an expanding flat wave. If this scenario plays out, it would indicate sideways congestion or more bearish price action to come.

I'd like to see that OBV get off the ground. There is still some weakness here.

I do not agree with the point that the price of BTCitcoin is solely based on the difficultly level or the expenditure to generate a BTCitcoin, it has nothing to do with the way the structure works, it is solely dependent on the investors and you cannot expect the market to see more investors because the miners are at a loss  . The reason why everyone expects the market to rise after halving is because the number of coins created will be reduced and thereby less coins in the market.

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When the market breached the support level of $6500 i thought we will go to the second support level but then the market rallied again, if we see a correction now, we might touch the second support level and even the third but i doubt we will see those valuations considering the amount of investment that comes in whenever the price touches the first support level.

I hope that bitcoin price can back to the highest price like what we saw in 2017. But if somehow, the price is getting down and reach $5500, that will be our best time to buy bitcoin because we are hard to see that price will happen in the future. Yes, the halving moment will be a good time to push the price to jump to the higher price, and we can hope that soon after the halving happens, the price will start to break the higher price and still increase higher.

Or it can go higher than $20k if that is your reasoning.  Anyway, all of the stated figure here is just an assumption thinking that Bitcoin price will go this way or that way.  I am not saying that there is no possibility that Bitcoin will go down to $5500 but the same possibility may occur that it will hit more than $10k in the coming days.  Remember the strength of the halving hype is getting stronger as the time of the halving is getting nearer.

I wink at that price as a strong buying support at $ 5500, we are still at PLAN A where prices will continue to stabilize until the beginning of the year and move up close to halving or enter into PLAN B touching the support floor of $ 5500 buying until early next year and starting crawling up to halving, there are 2 PLAN where I like to let the whales play with prices and buy some bitcoin when it's cheap, only that does it repeatedly

Congratulation on people who already bought bitcoin at below than $7000 because now, we are hit more than $7000 in a few hours, and I see that the price still trying to break the higher rate. If many people are trying to buy bitcoin again, I think that can push the price to increase so we will see another high price. But be careful because the price still cannot be predicted and we need to prepare if the dump is coming again. But still, the trend still at the downtrend, so that needs more attention and more analysis to know what will happen later.

it looks like the current bitcoin movement is pretty good, and goes up to the level of $ 7k again. to be honest, I also thought that the price of bitcoin would reach a level of $ 5k, but it seems that there is still little hope at this time. bitcoin prices are again working hard to achieve high prices. if the price of bitcoin rises continuously, there is a possibility the price could reach $ 8k at the end of the year, well that's my hope. at least the price of bitcoin is far from the price of $ 5k.

Going to $5500 doesn't seem all that impossible nowadays, I know that people are bearish when the price is bearish so it goes even more bearish (for some reason people sell low, when they should buy low) but that doesn't mean we "will" go to $5500. We "may" go to $5500 but there is a huge difference between those words, I see bitcoin bottoming out very soon and finally start going back up because halving is getting closer and closer. We just need one hype, one small increase and the price will skyrocket back.

In a scenario where one rich person buys over 5 thousand bitcoins all at once somewhere, the price of bitcoin will skyrocket in every exchange. Of course, these are just my predictions but I see bitcoins bottom as higher than $5500 and closer to $6.4k levels.

For a very short moment you had the opportunity to buy bitcoin for 6500 dollars unfortunately this opportunity was very brief and if you were not watching the market when that happened then you missed it, since then the price has recovered but I have the feeling that is not going to be the last time that we are going to see such a low price, because it seems that everyone is doing the best that they can to defend the 7000 level but it seems like it is a lost battle.

Seeing the price movement right now it is very impressing, yesterday it is price touch arround $6.600 and now its price has been increasing and touch $7100.

The sentiment market yesterdays are really bad indeed, I got many information who stated that bitcoin will dump to lower price such as $5000 even $4000. But I'm sure with the increasing now it will change the sentiment market and its price will up drastically.

There is a big recovery, and now this has made the price to be close around $7200. Maybe the low bottom hasn't reached, but it is sure that there is good resistance and a forward push. This doesn't look like a manipulated one, possibly the growth looks to take place from now onwards, because the previous time price reaching $14000 too got initiated from this value.

It's wiser if everyone bought at $6,500. As I've said, I'm preparing myself to buy at that bottom but it seems that our thoughts of looking to that price was wrong. I guess this is a better turnover and scene now to look for.

And it's starting to go near to $7,200 and now the question will be popped and that would be looking for the reasons for this quick pump.

Bitcoin has recovered this evening and this might be the new part that is creating. It seems $6450 is now the new bottom. The wise thing to do is to buy now that it just recover above $7150.

Doubt BTC will go any lower than $6,000 but of course that is just my speculation. If it ever drops down to that points I will pick up some BTC at a discounted price I guess. Hoping it will start rising soon so I can get back in the ride.

i'm beginning to wonder if there aren't some shenanigans going on with bitfinex's data. given all the outstanding longs, i expected the breakdown of $6500 last night to trigger a major selloff. the opposite happened. buyers immediately bought price back above $6900 and now the daily chart looks like a double bottom!

If this happen then it will be a great opportunity for those who have been looking for such opportunity to buy Bitcoin at the cheaper rate to buy and it will a bad one for those who has plans to sell their Bitcoin for faith Currency for Christmas and New year shopping.

I think so. Since there's no sign of having a bullish market yet so better hold them all right now until we see some bullish signs. So for now, accumulating bitcoin for future investment and get ready to hold and invest until the market shows signs of bullishness.

Seeing the raise in longs, it's definitely looking like going towards 5500$ mark because whenever we see more longs, it's definitely going to get short. I'm hoping that am wrong but the trend is looking bearish.

So just because some few folks decided to dump bitcoin everybody is now giving us new bottom records of bitcoin. Anyway, this is not the bottom of bitcoin and no matter how we may suffer the volatility of bitcoin i doubt it would ever sink that low. This currenct price is surely one of the perfect buy zone of bitcoin, don't miss out.

Is this thing going to be normal thread here in bitcointalk?
Every time there is a dump they will create a new thread which is asking if it will hit the current price -$1000. 
Last time the question was "Will it hit $6000?" and now this.

Well I bet it could hit any number just don't ruin the dump that is happening by creating discussions like this.
Might be a reason for another pump since people will see how cheap bitcoin is now.

The current status of bitcoin is obviously not improving and it seems it can go deeper. But hopefully, it will not hit 5500. The point these days we cannot determined if it will hit to that price because of bitmex leaverage. A lot of reasons why this is happening, some grabbing this opportunity to have some btc since halving is near. This really shows how the market is volatile.

It doesn't look good I can agree with that. I personally never imagined bitcoin going under 7 thousand dollars again after that spike to 9 thousand dollars but here we are under 7 thousand dollars and the economy is hurting. I sure hope that bitcoin recovers but if nothing major changes I am afraid right now in the market there is more bitcoins sold than bought.

Maybe it is the whales who are making these kinds of sales so that they can buy for cheap and get more bitcoins but looking at the buying amounts it looks as if there is not enough buys to justify that neither so I don't know why bitcoin is going down. Surely before halving it should be going up but we are just 5 months away now and people are still selling more than they are buying which confuses me a lot.

I don't think so. $5500 was quite deep, and not reasonable for bitcoin to hit such price drop just because bitmex leverage. At $7000 mark was quite tough to break, and we are seeing a bit of price sideways at $7000. Though who knows, right? Or we might slide down when we hit 6k but still I do believe it won't.

At the moment the price of 1 Bircoin is 6,688 USD and it is continuing to decline and closing as more and more people are waiting for prices of 5,500 USD and 5,000 USD so there is no buy support right now to prevent the collapse.
And we expect it, but after that we will see the price return 6,500 usd to 6,800 usd.

Bitcoin can dump to the price range mentioned but no one know the what the bottom price of the bitcoin market will be before halving and the bottom was indeed $5500 it definitely won't be because of exchange site mentioned leverage trading system because current market season is know for been high manipulated.

It's really a disappointing issue that Bitcoin price is not improving for a long time, I think 5500 is not any difficult figure for Bitcoin because it's not the first time to see this type of scenario, we need to find out a proper solution to get solved this pricing problem of Bitcoin, otherwise, people will get lost their interest in Bitcoin, Price volatility is not a bad thing at all but when you see a continuous devaluation of price then it doesn't bring any positive sense towards this issue, so this thing should take seriously without any delay, otherwise anything could happen in this system.

I don't think you have any idea what you're talking about.  Being able to use leverage shouldn't cause the price to drop any.  Hell, there are already other exchanges that offer margin trading.

There never was any support at $7k.  That's just a fiction created in the minds of TA traders for the sake of making themselves feel safer than they really are. 

I was surprised to see bitcoin going as low as $6728 (where it currently stands) when I got up this morning, but oh well.  Volatility like this shouldn't surprise any of us, I guess.  Maybe this is a christmas sell off or something. 

I don't think it will hit that low as halving is approaching. The price may fall to 6k but I hope not to touch 5K as it may send many FUDS to investors that halving have no longer effect in BTC price. Will jsut keep buying until halving happens if I have some extra to buy.

that is the fact. this is bearish .

it is inevitable now , once it goes down , it goes down for real. especially when you look at several altcoins start to moving up , this is a clear sign that some big whales moved his vitcoin already to altcoins to play some trade games there.
this is too obvious now that the altcoin season coming , it is coming now.

altcoins up 10%, 20% a day and bitcoin down 5% to 10% a day.
any other accurate speculation than this?
i have this data in my pocket since the rise of bitcoin . now it is time to get a little nap for the bear bitcoin and let the bull hits altcoins.

Bitcoin is a longterm relationship platform so 5.5k hit will never occur at this year. Last year it was stay in low level and again it will growing after May month so it will never hit the low level on current period. I hope current dump make continuous hype on next month and all are active in next uptrend.

Let's wait and see. because bitcoin is still at a price that supports pumps. I just think if bitcoin falls back below $ 6700 then the next lowest level is as you say $ 5500. My expectations for bitcoin only reach at $ 6700 as the lowest price and pump return.

And finally, $7k support is broken so the resemblance of what happened in January this year might happen next year. We might see the $3k again if things get ugly after breaking several supports level.

So Bitcoin just hit the $6,800 it might revolve at that price range up to $7k or down to $6.5k

I hope not, because if $ 6400 is broken then $ 5500 will be reached,
hopefully this time the support can be strong and ready to fly again at least at $ 8000

If the $6K zone doesn't hold, then $5,400 is the next area of interest. That's where the 0.786 fib of the 2019 uptrend is. It's a common Wave 2 retracement level; I know xxxx123abcxxxx is watching for a reaction off it.

If that doesn't hold, things start to look pretty ugly.

i have different opinion , we have to things that give pressure to bitcoin price. first thing tehnically bitcoin price will test level on around $5700 that previously tested as support , and now price trying to test it as valid suport or not. and second thing we know usually in end of december many investors some their assets that used to their holiday. moreover now near in christmas event, i am sure it will hit below $6k again in near future.

yes maybe bitcoin can fall to $ 5500 because currently the price of bitcoin is $ 6800. if the next days bitcoin continues to decline then maybe by the end of this December the price of bitcoin will be $ 5500. Don't despair and keep on believing that bitcoin can pump again. this kind of decline is common in bitcoin. and if we have savings I think if bitcoin can go down to $ 5500 it would be a good opportunity for us to buy bitcoin again. and then hold it until the bitcoin bull run.

Another correction, this time we go under 7000$ but I don't think that some sharp price will happen. I don't think the price will go under 6000$, although some further corrections are possible. It's more likely that price will stay somwhere in range between 6000$ and 7500$.
Also, I don't think that current price correction has anything to do with Christmas and holiday season.

There is no full assurance that bitcoin will continue to rise up until the middle of 2020 even though there is an upcoming halving we still not sure about its result. I am now worried about the price of bitcoin because I just check it right now and I see falling down price. There is a big possibility that bitcoin will totally hit the 5500$ and I still hope that it would not come true. If this keeps on falling down we can assure that we can start a new year with a dump price on market.

Price history is repeating itself again the price action of bitcoin towards the end of every year is always on decline this year not an exception as Christmas approaches it price is already heading to $6500 though trying to break the support at that zone I believed before we can have any growth as you rightly it might be early next year thus the only option now is to buy and accumulate while traders should only sell  not buy at the appropriate zones.

I will have to agree with that.

Worse may come but it is also a possibility for new buyers to come or those who are getting ready with their cash or USDT to become bitcoin again.
Hold the bitcoin and add some more.
That is the main road that I want to keep tracking for now. It is difficult already to buy bitcoin an expensive price. I don't want to make it worse by regretting it when the price suddenly pumps up.

Since I knew this market until now, the market is always bleeding at the end of the year. I don't know why but I have never seen a Christmas present from this market. Always losing money and losing money in the last months of the year, this year will certainly be the same. Bitcoin is currently at $ 7000 and it will soon go down to $ 5800 in the next few weeks before a new round of growth begins

What the hell leverage trading got to do with that? I can see no causality but by all means please share more of your insights. Maybe you got some magic fa ta combination that no one has thought of.

It's the common suggestion by the people who just want to lift up the spirit of the people but unfortunately it's different story in this scenario since if you keep holding with no proper posture of the market condition for sure you will end up pressuring yourself to see a good price to sell even though it's on losing pace. But if you learn the cut loss strategy then might you thinking straighly and earn what you lose at the time the market upset occur.

the floor for well prepped miners is about 4000.

I would not mind a drop from 6800 to 5900 maybe even 4900.

Not looking for it to go to 3900.

Yes we could hit the $5500 area but it won't be from over-leveraged longs on Bitmex. 2018 was different, November came and everybody was long using leverage. Right now I am sure many people are short on Bitmex, we might see $8500 before we see $5500.

I don't know how much of this is true but on Bloomberg was the piece about Plus Token selling their Ponzi ETH and BTC coins which is leading to this decline. Might or might not be true. The ponzi was actually exposed back in June 2019 when the peak happened, so its possible it might of been the fuel from $4K all the way to $14K.

However reading this forum and the posts on Twitter and Reddit, there are too many bears at the moment and leads me to think that we might be near the bottom, pretty soon and much closer than $5500.

It's no surprising if ever we touched on that floor. We are in bear market, so it's kinda given that most aren't expecting a gain, a resistance or fall instead. The bitmex issue addition to bad news making it more possible to be in bottom again plus it's holiday season, many will sell for personal matters.

Actually, it's not bad at all, atleast many of us can buy at a cheaper price before halving since most of us are expecting a massive rise after that.

Unforuntately trusting someone who can only say just hold is very dangerous (this isn't a sell signal, but it is dangerous to trust someone like that, we're obviously having more volatility at the moment).  When I started that's how I lost half of my money.  It may seem glamorous but if you can understand the market you'll realize there are weeks of warnings sometimes and it can be easy if there wasn't so much wash trading (mostly in the up direction).

I hope it's just what you say, because there is no hope like that, I think bitcoin will continue to rise until the middle of 2020 ... !!

As long as the market is still in downtrens, there are many possibilities that may happen. It is possible that the bitcoin will become more cheaper because the selling pressure is high and the buyers are overwhelming by seller that causing the decline of the price of bitcoin. I recently sell my bitcoins when it got breakdown, for me it is a cut loss strategy to minimize my losses.

I see that the situation of bitcoin hasn't improved since the start of December nowadays, and I don't know what's with that leverage trading talks about. Maybe because of this incoming holiday season, which I think many individuals used their digital asset for personal consumption. Digital to fiat currency conversion will have to be affected due to spending demand, that's why this price $5500 is nearly occuring.

Everybody on this forum has his/her own assumptions with regards to the possible market value of Bitcoin in the next months or days. I don't really think Bitmex leaverage trading can't be the specific reason for the market aof Bitcoin to drop to 5500$. Please try to get a concrete evidence or proof to back your assumptions in order for others to understand your reasons for having such assumptions.

Most likely, if you want my expert opinion.   The answer is  most likely "yes."  However, (the time is now 12/17/2019 01:36:59 UTC) ethereum just crashed a bit more percentage wise than bitcoin and as such we might see a drama trying to stabilize the market.  

It seems as though there might be people wanting to buy ethereum but also people wanting to sell bitcoin since bitcoin didn't get as much of a crash.  

If anything in the next few days I expect gains to be mostly on ethereum and then bitcoin will have another crash since volume has severely declined.  It's highly unusual for bitcoin volume to go below 200 million volume on binance and now it has happened for the third time in a few months.

As a side note what I can forsee (experience wise, I don't have a crystal ball here) is that ripple might give the market "trouble" if as a majority it is tending to want to go down more since it hasn't gotten many moments.  Ripple could have a run but the market might crash again before that happens (it'll go up most likely regardless if the whole market has a "blip" before anymore crashes if you know what I mean).   I'm hoping ripple doesn't sort of become a "market deviant" but it could.  If all goes well any ripple run I was hoping would coincide with a large crash like what has just happened.  I'm just not sure it's over yet though.

Even though it's hard to admit, it's the worst possible case of bitcoin going towards $ 5,000. We must be prepared for any conditions,
my advice is still patient with holding bitcoin, until mid-2020. Because even though the current market conditions are very bad, there
is still hope that bitcoin will return to the peak price. Right now the biggest hope is that there will be a halving effect for the rise in bitcoin
prices. Hopefully, we will enter the beginning of the year there is a positive movement towards the price of bitcoin. We have to tolerate
the price of bitcoin is now down, because it wants to welcome Christmas and the new year. Which investors are in need of money to spend
celebrating Christmas and the new year.

Obviously, there is no Merry Christmas and Happy New Year gift from Bitcoin. While there can be some who expected some price surge as we are nearing the holidays, I already this that this month can be anemic for our beloved digital asset. And of course, there are many holders who are selling their Bitcoin maybe for personal reasons. This is the part of volatility that I don't really like but there is nothing I can do but just continually hold, wait and just hope that in January the carnage can be stopped and that the halving will start to be showing some influence on the market.

The price has decreased considerably, BTC, lost support of $ 7,000 and perhaps fall more, for those who trust the project, it is a good time to buy and then expect an accelerated recovery in the coming weeks and months.

Holdays for many are coming, Xmas, New Year, Hanukah, Diwali. Eid, Chinese New Year..Everyone wants to cash out for their lambos at holiday time so I see a big leaching of the market and even tether will go down some points as there becomes the mass exodus into Fiat over the next two to three months. I see a fall in price inevitable, thanks to Bitmex traders killing the price and constantly shorting the market , every time there is a little breather of a pump coming. With leverage trading, we have no chance of a big rise unless we get tons and tons of hodlers coming in and even then the margin traders can still manipulate. I easily see us hittign a 5k Bitcoin by Chinese New Year. I learned the hard way through this long drawn out bear market, that you need to trade to survive, hodling ain't good enough anymore, you need to trade, to accumulate more and also some tether for hedging.

There's no exact reason but yeah it can happen before the year end. We are below $7k right now and if this trend continues, we might see another bottom which is a good buying opportunity for those who have extra money. Let's see if the bottom will hit again or it will remain on this level before the halving.

The price is about $6+ now, something tells me it might go down to $5.
However, at the same time, I am fed up of hearing price prediction from different angles just because of people are expecting a miracle of price increase this December.
Bitcoin price can go down and it does not mean that it is influenced by bitmex leavrage trading or any event. People might just want to sell because they might be disappointed in December.

My mind is already for the possibility that we might see bitcoin end this year with that price with so many factors. Given with that reason or another reason but usually we see this event before halving commences.

We're used to this situation and best to get your positions ready if ever we get to see $5500 or less face to face.

I think it will hit 5k but not because of this. I'm waiting for this price by spring.

The price of fertilizer doesn't effect what Tulips are worth.

Just look at the bright side if the price hits $5500. It could be the perfect time to accumulate again because this kind of opportunity might not present itself. Specially with the block halvening coming in less than four months, its a good time to stash more BTC and fatten your wallet.

So don't despair when you see the price going down, look at the long term perspective here. Year to year though, bitcoin is still profitable, if you have invested at the start of the year when the price is ~$3k then you still have a good ROI even if the price sinks deeper to $5k at the end of the year.

Actually, the scenario is somewhat complicated, the "Longs" are open and the "Shorts" also, the volume that has been presented is remarkable, it is as if they were lowering the price per share of the "Shorts" to buy cheap, They have produced a lot of sales, although I don't think it reaches $5.5k.

@bdivrik, a $5000 bitcoin would mean people paying 10 cents per kwh would be at b/e (electricity cost of $12 a day).

Remember though that as the price falls, difficulty normally falls with it as mining starts to become unprofitable for the people paying a higher unit price.

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If you're holding or holding profits best just to keep holding and try to increase your holdings by buying morw
. Minimal amounts can be shorted on leveraged trading but I don't have too much trust in the manipulators of this market).

Btc is unpredictable, but I still hope so

Seems we have to prepare more cash to buy the dip, it will drop to the significance level, can't resist the temptation obviously. I'm surprised that there are people willing to sell bitcoin at cheaper rates like below $6000, but there the list; miners, traders, and manipulators. Considering miners still gain profits after cover their expenses, there is no problem to keep selling bitcoin.

The unit price of electricity needs to be calculated well. There are also different situations for each device. The electrical consumption of the devices is not constant. They can have different electrical consumption at different temperatures. I don't think mining makes sense. Good research needs to be done.

Would be interesting to see that happen. I suspect the floor to be 4000
as worst.

If I have 100 th in the form of 2 s17 pro miners they earn

100 x 0.00001921 = 0.001921 btc a day or   $7.684  if coins are 4000 usd

So they use 5kwatts  an hour or 120 kwatts a day

at 5 cent power  they cost six dollars to

so you clear $1.684 a day with 5 cent power and 4,000 usd coin price

at 6 cent power they cost 7.20 to run and they would only make a 48

cent profit.

So we could drop to 4k price in coin based on the s17 pro's earning price.

I do not see  your 5500 guess out of line.

i think bitcoin will hiy 5500$  because of bitmex leavrage trading