Topic: Bitcoin will soon reach a reliable low, below which the price will not fall. (Read 313 times)

$5800 has been the average support for bitcoin throughout 2018, and this is comparatively higher than previous years. And I see that bottom holding out for a while.
Everyone is entitled to an opinion on what they think the price would  in the future, but they are all speculations regardless of the source.

Again and again, its being sounded, when you quote a source, there is nothing hard in putting a reference as this would add credibility to the post and equally give an opportunity for follow up to anyone who is willing to read more not forgetting the complement to the author of such information and finally not getting banned on the forum for plagiarism as this goes to Op and those going outside the forum to source for content to be discussed.

One thing I noticed that is common to people who expressed their opinions above is the word "I think" and that points to the fact that whatever they say should not be relied upon 100% as its merely an expression of opinion that is not dependent on objective evidence and more so there is no uniform conclusion as some were of the opinion of falling, others were optimistic of further increase which leave the option to those reading in deciding which side they want to belong.

The old saying, "Opinions are like assholes, everyone has one" comes to mind when I look at all these predictions. It is just logical that a spike like 2017, will be followed by a correction and that the correction must bottom out at some stage. We do not need any genius to predict that and we also know if the price stabilize , then that might be a signal that it might be the end of the correction phase. 

So there you have it, no expert advice is needed to extract that from the current price behaviour. 

you should have posted this at least 6 months ago where this "reliable low" was actually reached. we have been above that solid low with a strong buy support behind it for a couple of months now and that is one of the reasons why the whale accumulators have started their accumulating processes. otherwise they would have been equally confused like the rest of the market.

The cryptocurrency world is quite volatile and prone to changes. 80% of prediction turns out to be incorrect and there is no minimal and maximal point of any coin. I would advice you just keep watching the market and pay less attention to predictions, this has brought doom to alot of people

with CNBC on Friday

$5800 has been the average support for bitcoin throughout 2018, and this is comparatively higher than previous years. And I see that bottom holding out for a while.

Everyone is entitled to an opinion on what they think the price would  in the future, but they are all speculations regardless of the source.

The expert of the venture crypto company Blockchain Capital Spencer Bogart believes that bitcoin is ready to signal the discovery of a reliable minimum, below which the price will not fall.
"Regarding its peak values, the price of bitcoin fell by 70%, so I think that bitcoin is close to finding its minimum, like all other cryptocurrencies," Bogart said in an interview with CNBC on Friday.
"At the end of 2017, we saw a strong rally of the entire crypto market, despite the fact that there was a lot of negative news. Now you can see that there are positive news, but the price is not growing, " he added.
Under positive news Bogart meant investing broker TD Ameritrade in an adjustable ErisX crypto currency exchange, and a statement by Rick Edelman regarding the bitcoin ETF approval and funding Yale University cryptofauna for $400 million.
"All this news is important building blocks that are laid in a new Foundation for the promotion of institutional capital in the crypto space," Bogart said.
Similar opinion is shared by Mike Novogratz, who last month suggested that bitcoin "has reached its bottom". This statement was based on a comparison of the current Bloomberg Galaxy Crypto (BGCI) index readings with those existing at the time when the market started its bullish rally. Novogratz also said that in the next 2-3 years a lot of financial institutions will be included in cryptoprocessor. He said this at the South Korean conference Beyond Blocks in July.
Earlier, a team of researchers published data according to which 54% of institutional investors believe that the price of bitcoin has already reached its minimum. At the same time, 57% of all respondents said that by the end of 2019 they expect to see the price above $15,000.
In may, fundstrat analyst Tom Lee once again expressed his expectations regarding the price of bitcoin, which, according to him, will reach $22,000-$25,000 by the end of this year. Later in August, he changed his Outlook, saying that real prices could be much higher. As evidence, he provided a correlation between emerging markets and the crypto market.
Despite these forecasts, the price of bitcoin, apparently, is not going to update the historical maximum, in connection with which Novograts also changed his forecast, saying that bitcoin is unlikely to pass the mark of $9,000 before the end of this year. However, by the end of the second quarter of 2019 Novogratz expects to see a price above $10 000.