Topic: BTC Price might drop now?! (Read 1132 times)
Bitcoin Predictions this downtrend of Bitcoin should further deepen in 2020 and the bitcoin price should on average hover around the 8k$. BTC will smash through 20k when it does in fact go mainstream.
It all depends on what will happen in the future and what people will think of whats going on as well.
You have separate those two things, whats actually happening and what people think about it are two different things.
There could be something awesome going on but people may look at it and not believe it and get scared and sell when everything looks great or maybe the market is horrible but people look at it and see potential profit there and suddenly start buying as well. That is what I think happened with bitcoin in the past 3 months as well, it dropped like crazy but instead of seeing it as a scare, people saw it as a chance to make more profit and they bought a lot of it increasing the price. So we need these two data to decide, what will happen and what will people think about it.
You have separate those two things, whats actually happening and what people think about it are two different things.
There could be something awesome going on but people may look at it and not believe it and get scared and sell when everything looks great or maybe the market is horrible but people look at it and see potential profit there and suddenly start buying as well. That is what I think happened with bitcoin in the past 3 months as well, it dropped like crazy but instead of seeing it as a scare, people saw it as a chance to make more profit and they bought a lot of it increasing the price. So we need these two data to decide, what will happen and what will people think about it.
It could be, the decrease of trading volume will be the most noticeable when talking about the possible drop. People are still following the halving trend wherein in a span of 6 or so months after the halving the price tends to slow down a bit before it will initiate a good run.
Nevertheless, the chart is showing some strong signs of the possible Bitcoin drop. It will be a good thing for those who wish to have a good buy.
Bitcoin trading volume drop shouldn't happen right now, during the market shifts always the trading volume increases in the case of bitcoin. The price drop will be a very rapid one of we get the rejection now at the resistance level, the support at $9500 level can also break after the rejection which can cause further fall below $9k. And many of the technical analysts are also saying that this is the most crucial moment for the bitcoin price, if it goes up then $15k is easily achievable but if the downtrend starts then $5.7k is the next level to look for. I am hoping that the pice would only go up, fingers crossed. Nevertheless, the chart is showing some strong signs of the possible Bitcoin drop. It will be a good thing for those who wish to have a good buy.
All of those factors are seperate to the dollar which is used internationally not just in USA. If dollar is weak as it is deliberately made right now then BTC probably doesn't drop that much, the idea of economic recession causing weakness in pricing is partly from contraction in the economy and a harder currency policy during that time. We arent seeing that as money is being produced even while GDP might be dropping, the most obvious sign is lower interest rates.
Its strong so far on the chart, above most averages and only failing to move higher just sideways is any clue of weakness or tiredness in the price.
When it rises this strongly, I agree but Im not sure the sell off will be as strong second time around as was seen in March. I was thinking a pullback to the 200 day average would be fair but so far none of the action has come close to even a threat to do this.
Its strong so far on the chart, above most averages and only failing to move higher just sideways is any clue of weakness or tiredness in the price.
Quote
the entire financial market will experience another strong sell-off.
When it rises this strongly, I agree but Im not sure the sell off will be as strong second time around as was seen in March. I was thinking a pullback to the 200 day average would be fair but so far none of the action has come close to even a threat to do this.
Currently, the Bitcoin price fluctuates between 9250 and 10400. Strong resistance is very close to the current price. Looks like the price drop hasn't weakened yet. Now it is better to not take a new entry until you get confirmation of breakout or coming down.
feel that the price of bitcoin will dump will only make us panic, and afraid of making decisions. until now, the price of bitcoin does not look like it will fall below the price of $ 9k, in fact, there is a high possibility of going up. I just feel that holding the bitcoin that you have right now is more appropriate than selling it because of dump speculation.
Currently, the Bitcoin price fluctuates between 9250 and 10400. Strong resistance is very close to the current price. Looks like the price drop hasn't weakened yet. Now it is better to not take a new entry until you get confirmation of breakout or coming down.
feel that the price of bitcoin will dump will only make us panic, and afraid of making decisions. until now, the price of bitcoin does not look like it will fall below the price of $ 9k, in fact, there is a high possibility of going up. I just feel that holding the bitcoin that you have right now is more appropriate than selling it because of dump speculation. 
Currently, the Bitcoin price fluctuates between 9250 and 10400. Strong resistance is very close to the current price. Looks like the price drop hasn't weakened yet. Now it is better to not take a new entry until you get confirmation of breakout or coming down.
I agree with you, maybe this is also heading to the altcoin season, dominance BTC is now weakening, and looks down, and some altcoin pump up to 100%, still watching
Currently, the Bitcoin price fluctuates between 9250 and 10400. Strong resistance is very close to the current price. Looks like the price drop hasn't weakened yet. Now it is better to not take a new entry until you get confirmation of breakout or coming down.
The present indication in the Bitcoin chart does not have any traces of dropping in the price unless any negative News comes in. Year 2020 might be the greatest year for Bitcoin
I don't think so, I am sure that the price of BTC will continue to move upwards and can break through $ 10k by mid 2020. BTC is experiencing significant price movements and is affecting the rise of several altcoins such as ETH, ADA etc.
Right now it looks like the price is not dropping at all, if it was it would have dropped already. Look at the prices right now, the market is very vulnerable since the buyers are out of money and they are not making it go any higher, plus the support is weak as well, so if the sellers wanted to drop the price all they would have to do is sell about 10-30 thousand bitcoins right away and the price would have been $6k as well, use some short futures with leverage on top and we are talking about tens of millions of dollars in profit for them (which they did during $10.2k to $9.2k period) since they are not doing that when they can, that means market is not looking bearish at all.
We are just waiting for the buyers to recover and when they have enough money they will once again increase the price.
We are just waiting for the buyers to recover and when they have enough money they will once again increase the price.
Bitcoin price crashed down into the $4,000 because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty. cryptocurrency markets comes amid a broader sell-off in equities as governments worldwide continue to grapple with the new corona virus that's spreading rapidly across the world.
Bitcoin's price to drop to as low as $6,500. In the third quarter of 2019, Bitcoin's price dropped from $10,500 to $6,410. Bitcoin price crashed down into the $3,000s because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty.
Yeah, you have made two comments with the same essence. Seem like you didn't read all commenting here and just click the reply, it is worst mate.
You may need to recheck before you made a new comment/thread in case there is a user who curious to your opinion and they want as something to you.
Im not leveraged long, I only have a few leveraged shorts as it turns out but net long anyway. But that spongy nature to speculative positions can apply in both directions, I think there is a base holding of BTC that doesnt sell off so easily precisely because these prices fly everywhere occasionally.
So dangerous for doing long by now since situation is not yet definable and I can't even trust the current flow since provably we will be trapped for some certain situation, maybe I think the safest timeline for us to tell the faith is when the crisis ends since provably we will see some good insights on when is the good entry by that time and proceed for long trades, for now I'm with you on short leveraging since this is more quite safe and decent.
Bitcoin's price to drop to as low as $6,500. In the third quarter of 2019, Bitcoin's price dropped from $10,500 to $6,410. Bitcoin price crashed down into the $3,000s because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty.
Im not leveraged long, I only have a few leveraged shorts as it turns out but net long anyway. But that spongy nature to speculative positions can apply in both directions, I think there is a base holding of BTC that doesnt sell off so easily precisely because these prices fly everywhere occasionally.
There has been a good trend since March, dont think that has failed yet just we have risen so long we're back to the struggle that existed in beginning of the month.
Quote
continuous upward movements everyday
There has been a good trend since March, dont think that has failed yet just we have risen so long we're back to the struggle that existed in beginning of the month.
Bitcoin price crashed down into the $4,000 because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty. cryptocurrency markets comes amid a broader sell-off in equities as governments worldwide continue to grapple with the new corona virus that's spreading rapidly across the world.
It looks like the price of Bitcoin is still safe in the range of $ 9000,
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect
After the halving, we have been seeing a minimal kind of movement that isn't really changing much of prices. A little up and down. The range of price is still around the 9,000 true but expect more run maybe up if 9,500 gets broken.
It looks like the price of Bitcoin is still safe in the range of $ 9000,
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect
After the halving, we have been seeing a minimal kind of movement that isn't really changing much of prices. A little up and down. The range of price is still around the 9,000 true but expect more run maybe up if 9,500 gets broken.
It looks like the price of Bitcoin is still safe in the range of $ 9000,
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect
seen now it's been a few days Bitcoin is in the zone, weekend also does not affect
The retracement of the price already happened so expect that the price may now go up again, there is a currently breakout that happening but I do not know if it will become successful or it will be just another fakeout. The market is now so volatile so proper risk management is very important. The breakout is a sign of strength so the possibility of going up is higer and it is the reason why we should expect another rally.
I think the next week will actually confirm a strong volatility because the few days to the end of this trading week has been dull. Yesterday and today especially have been dragging for position. At the opening of next week, we might see a volatile pricing.
Maybe yes and maybe no. You haven't explained why exactly the next week should be so crucial.
Anyway, price drop is always possible as well as price rise. However, for some significant price change there should be some circumstances and some trigger that would initiate that. At the moment I'm not aware something like that is coming next week but Bitcoin users should always be prepared both for positive or negative price changes.
Jump to: