Safe to say Bitcoin "probably" won't go lower than $600-$700 - page 2.

tokeweed

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Quote from: pereira4 on January 23, 2017, 09:32:34 AM

Quote from: The Sceptical Chymist on January 23, 2017, 12:48:26 AM

You can scream it from the hilltops, my man. It would be no crazier than any of the other predictions around here. But I'd disagree. We could certainly go that low or lower. You've seen how volatile this past month has been. There's no good reason why we couldn't drop to 700. Or $200 for that matter.

There is a very single explanation as to why we will not go as low as $200... the answer is very clear: because there is a lot of people waiting to enter the market and any drop is good news for those waiting to get in.

That's all hubris. A good example is how the Roman Empire fell because the people running it were so arrogant that they thought their beloved empire will never fall. All it took was a movement from the poor to slowly relinquish the Romans off their power. After a few centuries, they fell.

I'm not saying I want Bitcoin to fall nor do I want to. All I'm saying that we're doomed once we're arrogant enough to think all this will live forever.

Noctis Connor

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Aw i need this . I need bitcoin to drop up to $600 so i can buy a few bitcoins so if bitcoin price pump again up to $1200 again well i can doubled up my bitcoin and make a good investment in my business again and i can make another branch of my business here in my country

ProfessionalGoogler

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Quote from: davis196 on January 23, 2017, 01:52:32 AM

What do you mean by "probably" with quotes?
What kind of statement is this?I can say that bitcoin "probably" won`t go higher than $1000 and i`ll be right...
"probably".
You can`t predict this.

Nothing is predictable.. 100% Wink

crairezx20

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Quote from: Carmen_Sandiego on January 23, 2017, 10:21:10 AM

Quote from: jakelyson on January 23, 2017, 09:52:46 AM

You probably are right. The price has several times tested the 800+ resistance and it always would not go down below that anymore. I think mid 800 is now our new low. Aren't we supposed to be glad that we will not see 700 and below anymore. But I guess those shorts will not stop to feed us with FUD to bring the price down.

I remember that surpassing the seven hundred dollars range, at the end of the last year, was a difficult task, and in fact this can already be seen as a great achievement, but this is probably just the beginning.
With regard to the current price, unlike what happened in the first week of this year, the price has risen more steadily in recent days, and this may be a sign that we are in a new phase of consolidation.

I think november that bitcoin price surpassed $700 value and i think before end of the month we experience to touch in 800 above or 900 until we hit 1k value.. you have the point we are still at the beginning when the bitcoin is rising users and i think more users will come and we are still not well known currency and i think we need more visibility in other social media and get more trust by many company so that people won't think that bitcoin is scam.. and we will see this good result in the future and like before when i was start using bitcoin i think $250 and now the price is really high in fact its 4x the price is increased. and i think it could be happen too this year..

Carmen_Sandiego

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Quote from: jakelyson on January 23, 2017, 09:52:46 AM

You probably are right. The price has several times tested the 800+ resistance and it always would not go down below that anymore. I think mid 800 is now our new low. Aren't we supposed to be glad that we will not see 700 and below anymore. But I guess those shorts will not stop to feed us with FUD to bring the price down.

I remember that surpassing the seven hundred dollars range, at the end of the last year, was a difficult task, and in fact this can already be seen as a great achievement, but this is probably just the beginning.
With regard to the current price, unlike what happened in the first week of this year, the price has risen more steadily in recent days, and this may be a sign that we are in a new phase of consolidation.

Karpeles

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For "natural reasons" don't. Even the FUD caused by the inspection of the chinese exchanges failed to hold the price down for any significant amount of time.

Only concrete bad news could drive the price lower, but there is no way to know if a country will ban Bitcoin or if and when an exchange will be hacked

alyssa85

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Quote from: 1Referee on January 23, 2017, 05:25:55 AM

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

This.

The problem with bitcoin is that it is such a small market in the grand scheme of things, and small markets are easy to manipulate. Then add in that the Chinese speculators like to gamble, so they pile in when the price is rising and dump in a panic when it is falling. They don't seem to practice contrarian investing, and they don't do risk management either. The idea of only investing 1/10th of your assets at a time is foreign. They like to go all in, which can pay off occasionally, but most of the time wipes you out.

jakelyson

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You probably are right. The price has several times tested the 800+ resistance and it always would not go down below that anymore. I think mid 800 is now our new low. Aren't we supposed to be glad that we will not see 700 and below anymore. But I guess those shorts will not stop to feed us with FUD to bring the price down.

BOSA.io

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Most likely wont, but you never know. I say there is a 20% chance that it will go down to $400 again.

pereira4

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Quote from: The Sceptical Chymist on January 23, 2017, 12:48:26 AM

You can scream it from the hilltops, my man. It would be no crazier than any of the other predictions around here. But I'd disagree. We could certainly go that low or lower. You've seen how volatile this past month has been. There's no good reason why we couldn't drop to 700. Or $200 for that matter.

There is a very single explanation as to why we will not go as low as $200... the answer is very clear: because there is a lot of people waiting to enter the market and any drop is good news for those waiting to get in.

Stedsm

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Quote from: The Sceptical Chymist on January 23, 2017, 12:48:26 AM

You can scream it from the hilltops, my man. It would be no crazier than any of the other predictions around here. But I'd disagree. We could certainly go that low or lower. You've seen how volatile this past month has been. There's no good reason why we couldn't drop to 700. Or $200 for that matter.

I agree to you in this case that the price can only remain stable unless the stronger hands go wrong and decide to end this up in garbage and $200 can be called a garbage level, even lower than current support. OP, we should never be ^confident^ in terms of price of a thing that has been considered a "stock"/"commodity" for investors, and something being defined that way should never be trusted.
Search for Penny Stocks and you will know, OP.

digaran

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I absolutely HATE $200 over and over coming up in conversations, I mean WTF? is it a secret or magic price? you haven't figured it out yet? bitcoin price wont drop below $700 unless and only when hash rate drops 45%, one thing you all should know that BTC will never become unprofitable to mine.
So in order for price to drop the hash rate must decrease first, how that works? simple really, if no profit earned by miners mining with cheapest electricity= no support thus miners will stop and hash rate decreases and people will pick up from where others left.

MatDerKater

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Quote from: ProfessionalGoogler on January 23, 2017, 12:44:31 AM

+1

I agree.

I suspect that Bitocin first will test recent $750 low, then push uptowards $1000 area, fail, and then down she goes, finding support in major traffic area between $600-$700.

Red-Apple

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no it is not safe to say because it is not a right thing to say.
the bottom has gone up a lot and it is now at $850 which means even if price decided to test that bottom, we will only see that price and worse case scenario with panic because of testing bottom, the price will be $790.

BitMaxz

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Quote from: ethereumhunter on January 23, 2017, 05:57:17 AM

Quote from: 1Referee on January 23, 2017, 05:25:55 AM

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

so it is better to us to sell our bitcoin when the price is reach on top and we surely seen this before. in 2015 i remember that the price is reach $200 but from that time, we see that the price is increase until the december 2016-january 2017 that i think its the highest price. i can't imagine if the price is go below $500, maybe in that moment, i won't sell my bitcoin and hope that the price will back increase.

Thats impossible to happen. bitcoin right now is different unlike before that there are only few website and company are accepting bitcoin unlike before that many merchant right now are accepting and i think we will also use some vcc in bitcoin that we can exchange our bitcoin in paypal funds.. for now theres no possibility that the price could be hit $600 i feel that the price could be stay at $800 or if we are lucky the price will increase more and hit again above $1k..

ethereumhunter

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Quote from: 1Referee on January 23, 2017, 05:25:55 AM

How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

so it is better to us to sell our bitcoin when the price is reach on top and we surely seen this before. in 2015 i remember that the price is reach $200 but from that time, we see that the price is increase until the december 2016-january 2017 that i think its the highest price. i can't imagine if the price is go below $500, maybe in that moment, i won't sell my bitcoin and hope that the price will back increase.

Seansky

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Probably bitcoin won't go lower than 600$-700$ because of the strong resistance that we have seen on prices in 700$-900$ in this past few weeks but there's still the possibility that it will go down beyond than that. Like what pooya87 and shintosai said in their post above, If another exchange with 100K+ BTC in it and also maybe less than that, price will go down we may even see 200$ again and also some other factors that might affect it's downfall.

1Referee

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How many times have we seen people say that Bitcoin won't go below this or that level, while it happened every time? I say a plenty of dozen times. Current situation is definitely not an exception. Great example is the all time high of around $1200 back in 2013, where after that the price tanked to prices far below the $200 level. It's a decrease of more than $1000!! It was a combination of a massively overbought-manipulated price, and the MtGox debacle. But remember, there were far less coins in circulation than is the case right now. I can't say when since it's something we can't predict, but it will go below $700 again, it will go below $600 again, and at some point it will go below $500 again. It's just a matter of time, but the price always recovered so far, so that's something you guys can hold on to.

Denker

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I think it is safe to say that no one of us can guarantee any prices to happen or not to happen, whether it is up or down.
Bitcoin has often shown to behave like uncontrollable beast.
So therefore imo it is good also to expect the unexpected.

ArdiPrabowo

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support bitcoin price in level 700 dollar
i think is very dificult bitcoin price can down until reach under 700/600 dollar
without crash, big news, super dump , because much bitcoin attack hacker, i think is very imposible

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