BTC 5K? Future price discussion! - page 2.

Baofeng

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Quote from: airdagon on May 18, 2018, 05:23:07 AM

I have no idea! which obviously bitcoin prices did not make it through the predicted rally, it is likely that prices will experience a small decline again, the current price alone shows in the order of $ 8,107 and decreased up to 1.98%.
hopefully the price will soon get support and start refocusing to the figure $ 9000 - $ 10,000

Right, its because those so called predictions doesn't always hit it marks and most of the time they are very wrong. As what the OP has suggesting, Bitcoin will get to $5K, because he has the "TA to backed it up", However, the market moves on the opposite direction. We bottom at $6500 but we are slowly recovering at $8K again. I know we are struggling to get into the $9K-$10K range, we might see that price once again when investors renewed their interest on the market in the next month or so.

richardsNY

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Quote from: mu_enrico on May 18, 2018, 12:47:16 PM

Yeah looking from TA, now bitcoin currently test $7k support level, some analyst predict if this support cannot hold then we might expect more decline to $4k or $5k (depend on who is the analyst). I'm currently 50:50 on this, prepare to buy more when dip, but if rally then fine just hodl.

We are all analysts and equally good or bad at the end of the ride with our predictions. If people believe that we're up for much lower levels, then they should open short positions to back up their words, otherwise what's it worth to "confidently" say that you think something is going to happen? If I strongly believe that the price will be going up or down, it's not just words but I actually go long or short. Yes, you can't always be right, but at least I put my funds to work. There is no point in predicting something to happen where afterwards it happens, but you didn't take advantage of that opportunity.... It's a waste of time and feels like you lost money while in reality you haven't lost anything.

dothebeats

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The same predictions were also made back in February when the price is even weaker and support levels seem shaky. Right now, even if the price is in a slump, there is still a huge bullish sentiment left so I doubt that it will lose its grip on $7000 or even $6000 that fast. There's still a huge room for reversal even with the short-term signs pointing up to a dominant bearish trend and I'm still hoping for such to happen within the next few weeks. If not, then I guess we'll be seeing the good 'ol $6000 again.

mu_enrico

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Yeah looking from TA, now bitcoin currently test $7k support level, some analyst predict if this support cannot hold then we might expect more decline to $4k or $5k (depend on who is the analyst). I'm currently 50:50 on this, prepare to buy more when dip, but if rally then fine just hodl.

1Referee

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Quote from: ajochems on May 18, 2018, 12:02:42 PM

I don't think the price will reduce to 5000$ by this year.It may happen in future.

If it doesn't happen this year, which is very unlikely already with $6000 being the absolute base in my opinion, it won't ever happen again.

Quote from: ajochems on May 18, 2018, 12:02:42 PM

In case the bitcoin price move to 5000$,I will just hold my bitcoin and buy the maximum number of bitcoin with my entire savings.Because I know it is temporary one and soon the price will increase.

It's never a good thing when you dump all your savings into something. The thing with this market is that regardless of how cheap it may look after a massive correction, it can always go far lower than that. If you went all in and the price tanks further, you are pretty much in a horrible situation because you have no funds left to buy the market down and to lower your average buying price. It's just a matter of logical thinking in the end.

Ridwan Fauzi

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Graphically I believe what you say when bitcoin prices will go up instantly the price drops back, at least this week bitcoin price drop to $8000 after last week bitcoin price touched $9000. According to the chart if this situation continues it is not impossible bitcoin will breakout to the lowest price of about $ 5000- $ 3000.

But the graph is just a tool that may not happen because who has the power to change bitcoin price is fundamental. If you look at some of the news that is happening right now there is a lot of good news about the world of cryptocurrency. Moreover, yesterday's consensus that many companies will adopt cryptocurrency and blockchain, this will give positive effect to cryptocurrency market.

ajochems

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I don't think the price will reduce to 5000$ by this year.It may happen in future. In case the bitcoin price move to 5000$,I will just hold my bitcoin and buy the maximum number of bitcoin with my entire savings.Because I know it is temporary one and soon the price will increase.

kingcolex

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Quote from: BrewMaster on May 18, 2018, 10:35:52 AM

it is understandable that you want to predict a big drop just because it has been dropping now and some sort of small downtrend has shaped up but no chart can tell you where this downtrend is headed. so far the $8k has been holding up nicely and despite what you think the buy support has been decent for it.
it will take a lot of sell pressure to bring it down.

I actually believe it passed the test the new test is $8100 holding, then if it does up from there.

Denker

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Quote from: kingcolex on May 18, 2018, 10:30:40 AM

I think the initial fall from $19,000 would have been the $5,000 one. Now we're too late, it's been mostly positive news people are relaxing and not so fearful anymore. I think $8,000 support is somewhat decent. I know we dipped below but it was quickly popped back up. I think we could go mid 7,000s but I doubt lower.

I totally agree. There is of course always a chance for a dip below 6k, but the fundamentals of Bitcoin are extremely good. To be honest, they have never been better and that's the reason why I believe going down to 5k would be a tough nut to crack for the bears. And even if we would drop to 5k, I'm pretty sure we wouldn't hang out there for long. That's why I have placed a few low orders. Just in case. Who doesn't like to buy cheap coins right?! Grin

BrewMaster

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it is understandable that you want to predict a big drop just because it has been dropping now and some sort of small downtrend has shaped up but no chart can tell you where this downtrend is headed. so far the $8k has been holding up nicely and despite what you think the buy support has been decent for it.
it will take a lot of sell pressure to bring it down.

kingcolex

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I think the initial fall from $19,000 would have been the $5,000 one. Now we're too late, it's been mostly positive news people are relaxing and not so fearful anymore. I think $8,000 support is somewhat decent. I know we dipped below but it was quickly popped back up. I think we could go mid 7,000s but I doubt lower.

reliable

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Quote from: fabiorem on May 18, 2018, 09:09:51 AM

There was a prediction from a guy, two or three months ago, saying the price would fall to 3k by June or July.

If thats the case, I'm going to prepare the fiat to buy.

Such predictions are many and from years it is being saying that btc would become zero. Those people who knew such FUD invested highly and got their return so much that they have become millionaire today. So avoid such rumors which is better for you only.

fabiorem

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There was a prediction from a guy, two or three months ago, saying the price would fall to 3k by June or July.

If thats the case, I'm going to prepare the fiat to buy.

Quote from: djpitagora on May 18, 2018, 09:05:55 AM

setting technical analysys aside, if BTC is going to be used as a real coin it's going to end up priced at around the mining costs, which right now are 2000-5000$, depending on the rig you have.

The cost actually is around 13k. As you can see here:

https://www.cryptocompare.com/mining/calculator/btc?HashingPower=4730&HashingUnit=GH%2Fs&PowerConsumption=1293&CostPerkWh=0.12&MiningPoolFee=1

djpitagora

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setting technical analysys aside, if BTC is going to be used as a real coin it's going to end up priced at around the mining costs, which right now are 2000-5000$, depending on the rig you have. Market imbalances fix themselves automatically after a while. Speculation alone can't keep the prices up.

vinasky

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Quote from: airdagon on May 18, 2018, 05:23:07 AM

I have no idea! which obviously bitcoin prices did not make it through the predicted rally, it is likely that prices will experience a small decline again, the current price alone shows in the order of $ 8,107 and decreased up to 1.98%.
hopefully the price will soon get support and start refocusing to the figure $ 9000 - $ 10,000

Sure will, mate Wink

airdagon

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I have no idea! which obviously bitcoin prices did not make it through the predicted rally, it is likely that prices will experience a small decline again, the current price alone shows in the order of $ 8,107 and decreased up to 1.98%.
hopefully the price will soon get support and start refocusing to the figure $ 9000 - $ 10,000

vinasky

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Quote from: talkbitcoin on May 18, 2018, 04:10:01 AM

basically the same as the other topic. you keep repeating Forex and trying to use TA but neither are relevant here. of course analysis works to some extent but that is not enough to make a speculation like this.
go to tradingview and see hundreds of them there, sometimes everyone is predicting a different thing. i can show you at least a dozen of them saying price is going to rise to $11,700

Quote from: Getcoinsite on May 18, 2018, 03:25:23 AM

If you didnt notice even bitcoin price dropping but its market domination continue to increase,

yet another reason why market capitalization is a false factor to use for cryptocurrencies!
there are a lot of shitcoins with huge supplies like eth with 100 million and when they get dumped the total market cap takes a bigger hit just like when they get pumped the total market cap bloats that much.

You have the point, but i won't take any information from your advice.
I am still standing strong at my point, guess cya at 5k)

Getcoinsite

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Quote from: talkbitcoin on May 18, 2018, 04:10:01 AM

basically the same as the other topic. you keep repeating Forex and trying to use TA but neither are relevant here. of course analysis works to some extent but that is not enough to make a speculation like this.
go to tradingview and see hundreds of them there, sometimes everyone is predicting a different thing. i can show you at least a dozen of them saying price is going to rise to $11,700

Quote from: Getcoinsite on May 18, 2018, 03:25:23 AM

If you didnt notice even bitcoin price dropping but its market domination continue to increase,

yet another reason why market capitalization is a false factor to use for cryptocurrencies!
there are a lot of shitcoins with huge supplies like eth with 100 million and when they get dumped the total market cap takes a bigger hit just like when they get pumped the total market cap bloats that much.

You've got one good point here,i must admit that i didn't anticipate those shitcoins which I only focus on good coin that part of circulations in market.

And youre right gain saying that market capitalization wasnt good to use a reference for any conversations here in crypto since investors of shitcoins are just putting fund to pump and dump,and dont even let their money stays for longer time.

Thanks for enlightenment mate ,i owe you one here

talkbitcoin

legendary

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All I know is that I know nothing.

basically the same as the other topic. you keep repeating Forex and trying to use TA but neither are relevant here. of course analysis works to some extent but that is not enough to make a speculation like this.
go to tradingview and see hundreds of them there, sometimes everyone is predicting a different thing. i can show you at least a dozen of them saying price is going to rise to $11,700

Quote from: Getcoinsite on May 18, 2018, 03:25:23 AM

If you didnt notice even bitcoin price dropping but its market domination continue to increase,

yet another reason why market capitalization is a false factor to use for cryptocurrencies!
there are a lot of shitcoins with huge supplies like eth with 100 million and when they get dumped the total market cap takes a bigger hit just like when they get pumped the total market cap bloats that much.

vinasky

newbie

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Quote from: Getcoinsite on May 18, 2018, 03:44:08 AM

Quote from: vinasky on May 18, 2018, 03:34:44 AM

Quote from: Getcoinsite on May 18, 2018, 03:25:23 AM

If you didnt notice even bitcoin price dropping but its market domination continue to increase,today while bitcoin is sitting to $8,000 the market dominance is 37.5% meaning its not only bitcoin dropping its market cap but most of the altcoins too,including top 10 coins.

So if we will make a deeper look we will notice that before bitcoin hit the ground altcoins will do it first,so expect no falling that low.

Bitcoin will grow and grow,but will never come back to $5,000 thats for sure n

1 thing that I learned from forex is that market has its rules and if you will not respect them - you are going to end up with no money.
The fact that bitcoin could fall to 5k is an amazing thing!
It will give very sturdy support to the future 36-40k upward movement!
The fact itself that we are bearish right now is very good!
Market does not approve of 1-sided movements

We have the same thought about this thing,believe it or not i love it when bitcoin will fallback even upto $3k because this will give many aspirant to purchase much than when price is higher.

But as what i was delivers the trend and for me is what reality means,im not closing and idea of getting back but i am boosting those holders and waitings for the recovery from the last years highest recorded price.

But to be transparent for both,i will be neutral and will wait until the start of Q3 ,from that we will have the idea on where we are heading..thanks for this good exchanging of ideas and visualization mate..Salute!!!

Cheers to that!
Beers on me! Wink

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