How low will Bitcoin go???????????????????????

proudhon

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Quote from: Samthehero on May 17, 2021, 01:24:55 PM

Will it stop going down when it reaches 10K

No

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will it continue to drop below 5K?

Yes, definitely.

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What do you guys think about that and why?

I think it's obvious, and I've confirmed it using math and science.

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ELON MUSK now hates Bitcoin.

True

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Alternative crypto's will take over BTC's throne.

True

LUCKMCFLY

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I do not think it will drop more than $40k, the reason is because many whales are beginning to defend their positions, although the market is very bearish for many in the short term, in some analyzes they are being quite negative, at least for me it is, I have I have read many articles, but this one seems to me to be very bearish:

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After a false breakout of the $42,000 zone, bulls are not showing any efforts to return the price to the bullish channel. In addition, the buying trading volume is low, confirming the power of bears.

Source: https://u.today/btc-eth-xrp-and-ltc-price-analysis-for-may-18

For this reason, I do not think it will fall in price, I think that in the short to medium term Bitcoin will take a bullish turn, perhaps the bears are taking advantage, but many investors and traders are beginning to buy the fall.

Saisher

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Quote from: Samthehero on May 17, 2021, 01:24:55 PM

Alternative crypto's will take over BTC's throne.

I have read these hundreds of times and some of the coins that were touted to take the number one spot over Bitcoin are not existing anymore, after Bitcoin reached $50k we still have people like you who like to create FUDS, I wonder when will FUDDERS like you stop your wishful thinking when after Bitcoin recover it's the same people who will praise Bitcoin to high heavens.

traderethereum

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I do not know, and other people will not know.
Bitcoin can go to any lowest price without us know and it is already happening before. From $50k into $44k, and no one will know for sure.
We can speculate how deep the bitcoin price will go down, but that is still speculation and maybe we can prepare for any worst thing that can happen to bitcoin.
But I am not sure if any coins can replace the bitcoin position and become a leader in the crypto market because bitcoin can still lift the price later.
Maybe the deep price will go for $35k-$40k but I hope the price will not go down for that price range.

adaseb

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I don't think it will go to $5K. However keep in mind that is possible that we might head to $20K some day. With that Elon tweet alone we lost like 25%, basically we were at almost 60K and almost touched 40K. So with enough panic don't be surprised for the selling to accelerate.

If you look at volume profile, it shows where the most volume occured. There was tons of volume at $33K and $19K and $11K. So those people are sitting on huge profits. Unless they took profits already, they will most likely "go for breakeven" if price goes back to their entry. So either of those can be the low. Most likely $33K might be the lowest.

Kong Hey Pakboy

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Quote from: quocsi on May 17, 2021, 06:25:58 PM

The bitcoin market is plunging. Bitcoin value is decreasing day by day. But I think it will quickly bounce back in the near future. There have been a lot of periods when bitcoin hit a deep bottom, but still stood and thrived. Many factors are affecting bitcoin and it will be a trap for bitcoin to explode again.

Pretty cliche answer but you are right that it will bounce back when the time comes, bitcoin has proven it already over the course of a decade so I think that the only way for bitcoin is to go up which may happen in a year or about a month from now. I don't know how low but maybe it can go as low as around 1k USD.

quocsi

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The bitcoin market is plunging. Bitcoin value is decreasing day by day. But I think it will quickly bounce back in the near future. There have been a lot of periods when bitcoin hit a deep bottom, but still stood and thrived. Many factors are affecting bitcoin and it will be a trap for bitcoin to explode again.

Kez1817

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I think many people now are waiting more dump on bitcoin to buy more. But I don't think if it dump below $30k or much lower. It depends on the buying and selling state. Only I believe that even there is a bitcoin dump, it will not replace with other digital coins as long as there are lots of demand and the dump is just a moment and it will bounce back again.

famososMuertos

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Hi,
It is a situation that was expected, you cannot have amnesia, you read something, you know something, in any case this moment is also a strategy, you have to take advantage of the situation; buy-sell, profit from the new price.

Do you want to help the supply or do you want to help the demand? ...it's up to you.

The El-On factors and traditional protagonists are a part but not the whole, it is not worth complaining about them, but if you analyze them, that could give you a prism of colors for your decision.

?=>$40K /G.B.

Swordsoffreedom

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Quote from: Samthehero on May 17, 2021, 01:24:55 PM

Will it stop going down when it reaches 10K, or will it continue to drop below 5K?

10K-5K is insane, Cheesy

, It will never happen.
It is really a good thing that the market bounced back from $42100 and accumulating between $42k to $45k, it seems panic selling is over and the bull is taking rest in this key-support zone.
If the market able to hold this price range for several days then the dumping speed will become slow down and bear will be defeated. So above 46K market will be bullish and below 41K market will be bearish.

Oasisman

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Quote from: Samthehero on May 17, 2021, 01:24:55 PM

Will it stop going down when it reaches 10K, or will it continue to drop below 5K?
What do you guys think about that and why?

$10k is so deep, let's see If it goes below $30k first and If it stays of even go below that level. Most likely to happen when Elon decides to announce that Tesla will sell all of it's Btc holdings. People loves to follow Elon's activities and so Elon loves trolling the crypto community and will try to manipulate the market.

Quote from: Samthehero on May 17, 2021, 01:24:55 PM

ELON MUSK now hates Bitcoin.
Alternative crypto's will take over BTC's throne.

Elon hates Bitcoin? Why?
Why would he hates an asset where he could easily influence it's market sentiments lol.
Altcoins taking over Btc? Big news!
Wake me up when this dreaming is over.

acener

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Quote from: Samthehero on May 17, 2021, 01:24:55 PM

Will it stop going down when it reaches 10K, or will it continue to drop below 5K?

What do you guys think about that and why?

Headwinds for BTC;

Rising US and world wide interest rates coming.

ELON MUSK now hates Bitcoin.

Alternative crypto's will take over BTC's throne.

We don't know how much it could drop down but I hope it wouldn't drop down below $20K again.
If it continues to crash down then let's just enjoy it and wait till it rise up again.
Elon Musk hates BTC and you think that alt-coin would take over the place of BTC because of it?
Then are you suggesting Doge would be the next King of crypto since Elon favors it so much?

Slow death

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the market was rising thanks to the constant praise of elon Musk, as he is a rich person and owner of a famous company, he is an influential guy and the cryptocurrency market is a very sensitive market that reacts to any news coming from a famous guy like elon musk, this caused the price to increase a lot and now that tesla made that announcement, people are asking themselves:

as the price will be higher than $60,000 without the support of billionaires and millionaires

and this lack of hope is making some sell their bitcoins to reap profits and buy low when the price drops. how low can the price fall? I would say that the price will remain between $40,000 to $50,000, we can only panic if the price falls below $39,000, something very difficult to happen

Hobo66

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No one can say how much bitcoim can fall because Predictions of BTC prices can't be made on the basis of these chart patterns. Whole crypto market moves on the basis of Fundamentals, it don't follow any technicals. 42k and 38 k may be. Lets see what happen

o48o

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Quote from: Samthehero on May 17, 2021, 01:24:55 PM

Will it stop going down when it reaches 10K, or will it continue to drop below 5K?

If it goes so low i would say that this cycle is over. I was thinking it could bounce from $40k but if it goes under 30k it wouldn't be healthy for the chart and btc moon mission would be postponed for years to come again, unless something unexpected happens with the fundamentals and adoption.

swogerino

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I don't know what to think right now.Elon Musk claimed that there is a lot of energy consumed to mine a bitcoin so he is looking for alternate green energy and this was enough to make this downfall in Bitcoin price.However I think we need to show to Musk that Bitcoin is not controlled nor impacted by a central authority (a role which Musk seems to play with his behavior) so I don't think it will go way down to 10K but the lowest I predict is 20-25k before it skyrocket to where it should be in the year end at 100k or more.

dataispower

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All of a sudden a clown like Elon Musk has a great effect on the new money, he has further decided to make it seem like it is a decentralised system. Going below $10k at this current exposure doesn't seem real to me though. But is all fine whatever plays out currently.

rhomelmabini

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No God or Kings, only BITCOIN.

If you asked me literally Bitcoin can go low as zero but because of the correction or we say the FUD sell-off I think we might see this max pain until 29k or 28k. It's a good thing if ever that happens, I'll be more happy to get cheap BTC while I can.

Just forget that narcissist Musk out of the picture sooner or later no one will gonna pay attention to what he gonna tweet towards Bitcoin, he's showing now his nature and it's a dangerous thing. Bitcoin has been successful without this @55 and will still thrive to keep that phase without him.

boyptc

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As low as you can ever imagine.

Honestly, those prices that you've given are too low and like what you see, the price has been stabilized and we're getting into the support of $43k.

If it drops then the support has been broken and you're going to expect even lower.

Samthehero

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Yeah. Looking at the technical chart, it looks like there is some support at or around 30K. Could be a battle of buyers and sellers right there. If it should power right through it and keep on dropping, that would be a clear signal to sell.

Rikafip

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Let me check my crystal ball and I'll get back at you Cheesy

Joke aside, I don't think that we will see anywhere close to the 10k. Going down to 30k wouldn't surprise me at all, but I don't think that its going to fall down pass that. Even if that happens, all that means is that we will have an opportunity to acquire more cheap BTC. Either way, its a win!

xonar2

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Keep in mind there are also miners who are mining with stolen electricity or hardware, and they can continue to sell and pump coins on the market as much as they want to since mining costs nothing to them.

There isn't even a theoretical floor to how low it can go.
Miners say the floor is the cost of ASICS + electricity to create 1 bitcoin on average, but once again, these people fail to realize there are also illegitimate miners whose fixed and running costs are $0. They will sell BTC even if it falls to $500.

Personally, I am buying more coins if it dips below 40,000 USD. I'm not good at timing dips, but I'm comfortable buying at that level, at this point in time.
I would not buy right now seeing how turbulent the market is.

Gamerholic

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It is obvious that the fall will continue until it bumps into serious demand. This demand can be triggered either by an objectively low and attractive price, or just some fund or some other big investor will not decide to buy a cheap and promising asset, which, despite all the news background, is bitcoin. The history of bitcoin is happening before our eyes and it is very interesting to see where all this will lead.

Samthehero

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Will it stop going down when it reaches 10K, or will it continue to drop below 5K?

What do you guys think about that and why?

Headwinds for BTC;

Rising US and world wide interest rates coming.

ELON MUSK now hates Bitcoin.

Alternative crypto's will take over BTC's throne.

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