Next Stop of BTC.....5000$ - page 3.

arpon11

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Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Today market is going down and in a single day 112B$ to 101B$ and still it is going down. Do you think it is getting ready to move up or it will go down further towards 5000$ or more. Track record of BTC shows that it is vrey un-predictive to predict about BTC.

We are already in and whatever happens we have to face it. $5000 is possible and turning from $5600 is also possible.

I just read a post now when the op said bitcoin is never going to go below $5000 but to me we can not really predict this market and the best thing to do is, knowing how volatile this market is and buying as much as you could when it is down and do likewise when it up.
Remember that since yesterday bitcoin has lose over $750 dollars and this is a huge loses in the face of this bearish market. If you are still holding it is best to keep holding until you can sell above your purchase price as bitcoin will still recover in future.

If you have risked capital you can also buy now that bitcoin is extremely cheap.

hahay

legendary

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This is what I have felt so far, before many said that the market would recover at the end of the year. Even so far I have always seen if at the end of the year the time for correction to occur, we can see that the market is now red again and this is a big correction and it is likely that there will be many people who panic too. Yes it looks like the next stop is at $5k, we need a long time to see a recovering market or maybe this is the time to rise in the near future. Be patient.

bitcoin31

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I want the value of the bitcoin to up again, but depends on the situation if many people buy again bitcoin because now a lot of people who are selling their bitcoin so the value decrease more and I hope they will stop them.

Shinpako09

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It depends if people will continue to panic and dump their coin. I thought we're going to have a rise because we are near Bakkt and holiday season but then again the unexpected thing happen. This is bad for those in need of fiat. They need to sell it at this price no matter what. Hope the price will recover in December.

dunfida

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Quote from: LeGaulois on November 14, 2018, 02:22:11 PM

@cellard, you may be right while thinking below $5,000 is a more realistic price, but an adjustment of 20% within a 24h period is not a "natural" adjustment. It's something that usually takes place within several days or weeks. I didn't read the news so don't know what's going on.

After all the years we've been here these kind of price swings on a short period of time or lets say at 24 hour scope movement.Im not already surprised on whats happening. Price been somehow
stabilized for how many months already and there are already some bullish news do happen but the price didn't react. For people who haven't the time to read up
some things circling around will definitely got confused on whats going on. Cheesy

BitHodler

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Business as usual. People expect an increase, think $6000 is the support that won't be broken again, and the market does the exact opposite. This is why I remained so conservative in the last couple of months.

There is no point in looking for reasons, we never found out why the price went down in the last months, and we won't find out the reason for the current dump. Don't waste time trying to figure out what happened.

I managed to buy myself some coins slightly above $5400 and I am thankful for the opportunity. The price won't keep going down endlessly, that's why you have to use the current levels in your advantage to fill up your pockets.

Slow death

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When I saw the price in the coinmarketcap, I thought: "I will see many Thread with titles of people whining and thinking that we will see the $4000"

and I got it right

Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Today market is going down and in a single day 112B$ to 101B$ and still it is going down.

This was expected, the price was stagnant for a long time and did not rise so it was predictable that it would fall

Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Do you think it is getting ready to move up or it will go down further towards 5000$ or more.

It is more likely to fall than to climb, see that there is no good news able to raise the price and people know this, so I believe that there is more chance of falling prices than increase

Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Track record of BTC shows that it is vrey un-predictive to predict about BTC.

True

cellard

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Quote from: LeGaulois on November 14, 2018, 02:22:11 PM

@cellard, you may be right while thinking below $5,000 is a more realistic price, but an adjustment of 20% within a 24h period is not a "natural" adjustment. It's something that usually takes place within several days or weeks. I didn't read the news so don't know what's going on.

I've been reading the news myself looking for something that would explain it and I only found the 2 things that I mentioned, and these aren't probably relevant at all. Asymmetry in information is always there so we may be missing something. Until someone comes up with a better explanation, I believe it's futures contract expiration manipulation as usual. They want to reach total demoralization point so they will continue trying to keep the price low. Their only goal is to become the biggest players on bitcoin and they have the tools to do so. Once they have amassed a couple million BTC they will default on USD debt and claim BTC as world reserve currency. This is a long term plan of 10+ years so this is nothing.

magneto

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Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Today market is going down and in a single day 112B$ to 101B$ and still it is going down. Do you think it is getting ready to move up or it will go down further towards 5000$ or more. Track record of BTC shows that it is vrey un-predictive to predict about BTC.

I've been saying this for quite a while now - I fully expect prices to dip further in this bear market down to around $4-5k potentially. That seems like the trend from the past bear markets where prices have gone down similar percentages before recovering.

Apparently, the price dip was due to people selling off coins for tax reasons but I don't think that it can be solely attributed to that alone. The bearish sentiments certainly acted as a catalyst in this dip.

$5k is likely as a bottom but we don't know whether bitcoin will have a short term rebound this time just like the previous few times, or actually fall through the $6k support. Anyhow, if you do have spare funds at this stage to invest, I would do so wisely as I believe we are close to the floor for this bear market. Recovery for the next bull market is still quite distant right now, I expect that to happen mid to late next year.

LeGaulois

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@cellard, you may be right while thinking below $5,000 is a more realistic price, but an adjustment of 20% within a 24h period is not a "natural" adjustment. It's something that usually takes place within several days or weeks. I didn't read the news so don't know what's going on.

hatshepsut93

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With Bitcoin everything is possible, prices in range of $4000 can happen, but not likely. We'll either have $5500 as a new floor for a while or return back to low $6,000 soon - these are the most likely scenario's IMO. Maybe this is all a preparation for ETF announcement, like it happened earlier this year, or maybe it's all because of bcash.

cellard

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Quote from: Adriano2010 on November 14, 2018, 02:04:38 PM

An interesting article https://www.cryptoglobe.com/latest/2018/11/bitcoin-drops-below-6000-for-first-time-in-months-as-13bn-wiped-off-markets/

Maybe the stop is at 4500$

I've always believed something along the lines of $4500, because $4900 is the last resistance point before it would start getting insanely cheap and thus ridiculous for anyone with 2 braincells to not be buying at these prices. So I believe we will go below $4900 in a quick dip, a nice flash crash that will finally remove all noobs and generally weak hands off the market. At that point all the fiat whales that still haven't entered will do so (through OTC deals of course, but eventually OTC will dry and they will need to go into exchange buying too)

The big channel still remains:

It's just market noise as usual. Buy the dip and stay within the channel. $100,000+ is coming in a couple of years anyway.

barota

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Yeah .
bitcoin needs correction At least 5,000 usd per btc
The rich bitmain did not leave the support of the wall 5800-6000 for a long time; This led the prices Stability under severe resistance

Adriano2010

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An interesting article https://www.cryptoglobe.com/latest/2018/11/bitcoin-drops-below-6000-for-first-time-in-months-as-13bn-wiped-off-markets/

Maybe the stop is at 4500$

CodyAlfaridzi

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Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Today market is going down and in a single day 112B$ to 101B$ and still it is going down. Do you think it is getting ready to move up or it will go down further towards 5000$ or more. Track record of BTC shows that it is vrey un-predictive to predict about BTC.

I've incorrectly calling Bitcoin will bottom out in $4500ish so many times this year. I really hope it'll break below $5K, been waiting for this moment for a few months now Tongue

I have no problems at all with Bitcoin going down, I love them cheap coins.

Quote from: 1Referee on November 14, 2018, 01:40:37 PM

Bitcoin between $6000-$7000 was a good buy already, current levels are an absolute steal. Don't go all in though, make sure you buy smaller fractions per time, because we might see the price drop even further.

Totally agree. Averaging down is the way to go in a market like this. I think $4000-$5000 is the real bottom until 2021-2022 where we'll have another great bullrun (hopefully).

bomberb17

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I'm still curious who is the guy who sold all his coins and is now $10B richer..

gentlemand

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I guess this makes the 2-3 grand level that much more possible. Can't say I'm surprised in the slightest. The sooner the real scares are dropped on people the sooner we move past it and sort some equilibrium to build on future excitement. The 6-6.5 grand level didn't feel like the final stop to me at all.

1Referee

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Quote from: LeGaulois on November 14, 2018, 12:26:04 PM

The usual newbies will sell their coins and regrets in 2 days later when the price comes back.

It may sound harsh, but newbies unloading their coins is the best that could happen and even speed up the process of recovery.

These shakeoffs is how market movers get rid of potential selling pressure, and it works time on time again. Smart money buys, dumb money sells. By the time the price starts pumping again it will be vice versa; smart money sells, dumb money buys. It's a never ending cycle. You got to love this market. Cheesy

Bitcoin between $6000-$7000 was a good buy already, current levels are an absolute steal. Don't go all in though, make sure you buy smaller fractions per time, because we might see the price drop even further.

St4yInTh3D4rk

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Quote from: LeGaulois on November 14, 2018, 12:26:04 PM

I don't know what happened today but the whole market is in red like when a lady gets her menstrual cycle. I do not worry so much, I even bought more coins this afternoon. It will surely make me a 115-120% ROI within a week or less :p The usual newbies will sell their coins and regrets in 2 days later when the price comes back.

Right,the newbies are going to be the victims again in the game of whales so don't consider about this fall in my opinion because the price may ump back at any time because we already seen many times in this year whenever the prices falling below $6000 it will be back as soon as possible after the dump so in few hours even it may recover.

xIIImaL

legendary

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Quote from: mwaqar17 on November 14, 2018, 12:09:48 PM

Today market is going down and in a single day 112B$ to 101B$ and still it is going down. Do you think it is getting ready to move up or it will go down further towards 5000$ or more. Track record of BTC shows that it is vrey un-predictive to predict about BTC.

The main reason for continuous dump is panic selling so we should avoid these things in this bearish market. Because all the peoples are afraid in this situation but no one is take risk in Bitcoin buying so who are believe and more Bitcoin in this situation. They are all settled in future so we expect earn 1k USD in 1BTC. My advice is buy more Bitcoin and sell at right time is the best way so we don't think it will move dump or pump.

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