Topic: How far is the bottom for Bitcoin ? When will it peak again? (Read 293 times)

I think that the bottom is actually quite close to the current level. The $6k support has been extremely strong and has essentially been the floor for the past half a year or so. Even though I'm still not completely optimistic on that being the final bottom before the recovery finally takes place, I do believe that the actual bottom will not be below $4-5k, if not just at the $6k level.

This is mostly due to the huge buying demand that we'll see at $4-5k, if prices were to ever get that low. It's also why it's such a good time to accumulate right now, with minimal risk and huge rewards.

I agree with the article in the highlighted parts in particular. This bear market is only a normal occurance in the bitcoin's historical cycles. It's not really anything surprising. A bull market will emerge as soon as the prices bottom and the recovery starts, which I believe will happen before the 2020 halving happens.

Can people like you for once stop considering last year's peak prices to be normal? They weren't normal and current price isn't low at all.

Nothing in the world justifies Bitcoin this year to increase much further beyond current levels without any actual fundamental improvements. We're not going through an adoption boost. We're not seeing any ETF approvals. We're not seeing any fundamental improvements in the altcoin part of the market. Money is stagnant or even leaving the ecosystem due to the bear market. And so forth.

In other words, we should be more than happy with a gradual increase this year, because we're definitely not out of the lower bottom danger zone.

Yes you are right, you should invest a huge amount today while the market prices are still low because in this way you are going to earn more profit when the prices goes back to normal.

why do you want to know the bottom?
if it is for making an investment (not day trading) then you should have started buying a while ago when we hit $6k. it may not be exactly the lowest price that bitcoin can reach but it certainly is a low price very close to it and accumulating at this stage is not such a bad idea.
but if it is for day trading then bottom should not matter to you! it is day-trading not month trading

If we all know the bottom, we sure won't be stressing ourselves about anything as it would be easy to invest at the right time. We may have hit the bottom, although I still feel otherwise, but one thing is, like you said, from $1000 to $19800 and then testing $5800 - $6k as bottom feels like a good market to me, so, if anyone wants to see it as a death scenario, that is their call.

Altcoins on the other hand,  we all know this is one pump and dump market that is incomparable to the support bitcoin has and even of we have not reached the bottom yet, it would just be a good opportunity to buy more anyway.

I'm more interested in the bottom of bitcoin for this current time frame rather than anticipating for yet another ATH, which I think wouldn't happen in the next coming months even in 2019. Seeing bitcoin's bottom could ultimately give us a great insight as to how strong and resilient the price will be and how far can the bulls go if they decided that accumulating time is over and it's time to do yet another run. Getting a solid baseline matters, and the higher the bottom is, the greater the ATH could possibly be, so if $5k is the absolute bottom of this run, one can only imagine how much would be the new ATH by then.

Well that's going to be a good point of discussion there since for me, btc has already bottomed at 5.8k though i agree with you that this year would probably go to the bears already. A good run perhaps to cap the year but not the likes that we've seen last year.

I think about $6k is as low as it will get, I do not see it going to $4k like so many people believe. For bitcoin to go down as far as $4k there will need to be thousands of bitcoins sold at once to cripple the market and other people panicking and selling like crazy.

I do not see how anyone can have thousands of bitcoins and sell it at these prices when bitcoin is so low. It happened only once when mtgox trustee who is probably the only person that has that much bitcoin and still can sell without a worry did it but never been done ever since. So, I think we are at a place where there is no one else left in the market even whales that would be willing to sell that much bitcoin at this cheap prices, hence the only way is up for bitcoin.

The bottom will be $5348.67 on Sep 26th 2018 at 16:45:34 UTC. Give or take a second. It's a rough estimate after all...

Hard to say about the peak though. Somewhere between Feb 2019 and Apr 2058...

Hope this helps. 

although I don't agree with the $5k but I can see the possibility of that. but regarding no movement until next halving I have to say that is a very long time away. why do you think bitcoin is not going to move at all for years? to be honest that doesn't seem realistic to me at all, the market is so active these days and the adoption is growing despite all the drama. I can not see nothing happening to bitcoin for more than a couple of more months.

the facts that we have so far all say one thing and that is: $6000 is the bottom for bitcoin.

we have had situations like this before when price hits the bottom and everyone is confused about when it is going to go up or whether it can go lower. in bitcoin all these doubts are normal but the history shows that price rises start from these doubtable moments.

I can not say if a drop will sure happen but as far as I see the movement of bitcoin it is green already but the real question now will be, If it will continue to rise if this continue and we are nearing in the midst of Ber months we may see the value keep on going on a slow pace rise and I think that is a good thing, But if this will not continue and may see a drop again we can see a crash in the end of Aug. But the bottom base will be at $6000 USD for sure, If we can not see any problem so far so good.

Bitcoins will never die because the market price is still growing and all we need is patience since the value are volatile due to demand and supply.

All of us are just speculating, including the so-called expert we read on the mainstream media. I still believe the final bottom will be around $5,000 but not sure if we will see a significant move before the next halving

For me,bitcoin bottom line seems to be in the range of 6,000 dollars as we have seen it falling from higher price but not below 6,000 dollars.

I think that bitcoin price would continue to travel in the price range of 6,000 to 7,000 dollars until bitcoin ETF gets approved as it seems to be the only possible option available to boost again the bitcoin price.

ignore the HIGHS. you will just drive yourself insane always checking and hoping for highs.. no one knows or can tell you how high or when high..

however there is both math and psychology that backs up the LOWS.. its called the cost of obtaining limit. (only stupid sell below the cost they obtained it)


bitcoins hashrate at january 2017 was only 2.5exa hash  with ASICS average price being $2k. and calculating the number of asic units and the electric and spreading the unit costs.. brought the COST to mine btc to $700+
bitcoins exchange price LOW was ~$900 ($700 value + $200 speculation hype)

skip forward 6 months
bitcoins hashrate at july 2017 hashrate was 6exa.. with ASICS average price being $2k. and calculating the number of asic units and the electric and spreading the unit costs.. brought the COST to mine btc to $1680
bitcoins exchange price LOW was ~$1990 ($1680 value + $310 speculation hype)

decembers hype was not sustainable. and would never have lasted and not many people actually got to be online to take advantage of the temporary bubble and correction event.. which is another reason to not fuss over th hype bubbles because they happen so fast 99% of people just cry they missed out. so dont worry or car about it..

moving forward lets take july 2018
at this point ASIC unit cost dropped to $850 (waa $2k a unit)

bitcoins hashrate at june 2018 hashrate was 36exa.. with ASICS average price being $850. and calculating the number of asic units and the electric and spreading the unit costs.. brought the COST to mine btc to $5570
bitcoins exchange price LOW was ~$5850 ($5570 value + $280 speculation hype)

this math is not to be taken literally as a daily scale.. as people do not sell instantly. its best to get the months low hashrate and treat that as the months price LOW once calculated.
weekly/daily/hourly do not work out as correlated as people are random about when they finally sell coins

so take a months overview and take the lowst hashrate you see and the highest. to see the area/zone of break even
https://www.blockchain.com/en/charts/hash-rate?timespan=30days
37exa(28th july)-54exa (11th aug)

so now look at this months low of 37exa and this months top of 54exa.. you will see a range of $5.7k-$8k for the month. and now guess what the high and low bitcoin PRICE swing was for this month.. yep $5.7k-$8k
magic right... nope. its math and social conscience of nevr selling at a loss

now you can be left to look at the hashrate chart and draw some lines on the hashrate chart and it may hlp you better define where the LOWS may settle

I think the bottom of Bitcoin should be balanced with the benefits of mining. Even if the market is in a downturn, I think the price of Bitcoin can't be less than $5000!

I think bitcoin had already reached the bottom at $5.8K USD and definitely will not go down beyond the $5.8K level. My assumption to the expected up trend could possibly reached within the last quarter of the year therefore people in this community should wait for it and enjoy the profit once it will peak again.

I think that bitcoin will not die this early, bitcoin have many potential to be unlocked in the near future. So if you hold bitcoins and wait for it to skyrocket like last year you will be so happy. To answer the question when will it peak again, no one knows it when it will skyrocket.

Do you really think so? I do not think that bitcoin will fall so low ... And in general, in my opinion, bitcoin is a cryptocurrency for a long holding. So to say, to ensure old age))) Therefore, I'm not upset about the drop in its value, because there will definitely be growth!