Topic: Settled at ~$6400 for now? (Read 788 times)

I think that more and more players will enter this market. The price will definitely start to grow. The market becomes green. I think that the tactics of last winter may be repeated.

Obviously we are! What most people are seeing is the end of last year and I would not blame those that joined FOMO since they are so much in debt at the moment. I will only blame them for not finding understanding and gaining enough knowledge first to be an investor.

As far as I am concerned, and over the years, we have been increasing in price year in year out and for now, we certainly just have to live with the short downtrend in between and be patient enough. It is just that patience a lot of those who joined FOMO will not have and they are the main target of the whales here by getting them to bail out.

In short, we can say that all of this market is based on the forecast, which is basically the speculations, and other people predictions. So the market always moves as it wants and no one know whet will be happening in the future. And the only thing that we can do is to expect something unexpected, did i understand correctly?

I do not think people have even given up yet, and whales surely know that as they would tend to want to shake it down to the point where even those who have been stylishly holding on will just see no hope anymore since they do not understand why they should be investing in the first place which should be for the future.

We surely are getting pretty close, but it is a thing of the mind and psychology and the whales sure know how to play it well. We might see some little uptrend before the end of the year, but that is when they strike again, make people want to pull out faster, and with that, we get to see the market moving down fast as even those who have been holding all these while lose hope, and then consolidation, and then recovery.

Well we've seem spikes to 7 or 8k in a short time so who knows. Currently the price just dropped a couple of hundred dollars and people are saying that it may very well go to 5.5k. Honestly i have little care anymore lol.

For now, BTC at a price level of $6k+ is very attractive to institutional investors and big players in trading world. The longer it stays at this level, the higher its price would be by the end of year 2018. Patience is a virtue in this game, also, equip yourself with knowledge and strategy in dealing with the negativities to deserve profit gain in the future.

Very good because we don't know how much the price of Bitcoin is going to stop next year. Everything we have to wait and see, how far the price of Bitcoin will reach, now Bitcoin market settled at the price of 6400$ which seems to be bearish but when the market starts recovering we can expect there is huge growth in term of Bitcoin price.

The price is not stuck anywhere, we are only experiencing the market this way because the bears and the bulls are trying to see who wins the fight at the end of it all.

We saw the quick move downwards in a short while and then a quick bounce which I would call rejection by the bulls and a very strong rejection for that matter, but unable to have the power to go further, at least not just yet. As long as we are still below $7k, then nothing is guaranteed at the moment.

Just the basics and by learning how the market works for someone that's new can be used to survive.

Wisdom and experience are needed but for someone who's rushing and only see the good side of this market won't be able to survive. We had to adopt the bad sides as well like those swings that we see. Bitcoin reached $6,700 and will have some dips again which can make it $6,500 - $6,600 which potentially would be the support.

This 100%. Very important wisdom for anyone involved in crypto!

Sadly not everyone knows what's the best thing to do because they are broke and still can't move on. You may not expect it but expect the unexpected and I'm sure of it that there are plenty of panic sellers that lead them to cut loss and sold under $10,000 though they bought it while its on $20,000.

However the good days are coming now and it seems plausible like the expected positive run is coming.

From where you got your feelings about the future price of bitcoin? Please tell us the source that we could also feel the same. I think the given price $6400 will be there at the end of this year. I only look at the current situation of the market and the current situation tells that there is no positive attitude in the market and the price will continue till the end of this year.

For those who are smart enough to know the best thing to do, they will know they should be picking the last two. At this stage, I do not expect anyone to be cutting loss after buying at $20k as that is terribly an insane thing to ever do. The market is certainly not dead and at some point, it will pick up and recover, and all it takes is patience.

Currently, the only other best way to compensate the move downward is to buy the dip. Rather than buying the peak, people should always know better by now to be buying the dips and selling the peaks, as there is no other better way to profit from the market movement than that.

Very well thought out, I almost agree with everything you said. The only thing that is different in my opinion is that I believe that Bull market will start faster than after one year.

Sure seems like prices have settled at this level without much vertical movement at all over the past few days.

I wouldn't get too excited and say that prices are set to climb due to it stabilising at this level, though. We're still not out of the bear market and probably will continue to see the sentiment within the market be bearish for the rest of the year.

We will most likely see some sideways movements at this level. Potentially, we could see a short term rally but that wouldn't turn into anything on a major bullish scale. More likely to occur would be a dip below the $6k support at some point this year, or if we're lucky, a long period of mostly non-volatile markets, even though that would be less probable in my opinion.

actually it will be a turnover knowing, I hope, the price of bitcoin can rise again, and not dissolve at this price. waiting for high prices has been the dream of crypto users, but I think the price is really stable at $ 6400 this month.

Everything simply is for now, considering the nature of the market generally. Bitcoin has been holding up after the bounce from the $6k region again and that kept ushering in some hope to the space, but we do not need to forget that we are still in a bear market and bears can still strike at any time they want to. As it is we are still in a downtrend wedge and to what side we break out to, is what will determine how far the market is going to go.

Like most other people and you, I am also expecting price will not settle here on $6400 range for ever and it may break into the upper side and may reach $8500 to $9800 at any time. This may not be possible to happen with in this September but will happen before end of October and $$15k to $25k may happen before end of this year. Keep your hope up to continue your regular business .

Hope that your predictions about the price in this month become true but it is very hard to see growth in the price in the next half month. I think that the price will be little bit grow till the end of this year. I also want big pump in the price because nobody saw this for long time. I want some profit before quitting and investing in some regular business.

Yeah I understand the sentiment of those who invested with those prices and most specially those who bought at $20,000. Three things for those who bought at the bull run last December.

- they can sell and cut losses
- they can hodl and wait for the next bull run
- buy during this dip

Yeah seems like this, the price has stuck in this price. Just few hundreds ups and down but there is no big change in the price. I also wonder why the price is not increasing and why this bearish market situation is not changing in good one. Different people think differently about the future price of bitcoin. Some says the coming days will be good for bitcoin and other say that it will fall more.

For now, I agree it could be hard to make use of as a currency due to the fact that there is really not much of a facility to always make that happen pretty fast. Over time, with development in scaling issue, and a faster level of transaction, I am sure we will get to keep seeing several means of seeing this happening.

ETF should not be something anyone should be focused on in this market and with the way there is so much evolving around it, I am sure the whales might want to use it to instigate price movement but at this stage, we only have time and trend in our hands to see how the market leads. In the past, bitcoin had showed big movements and broke resistance levels before we did realizing the reasons for that. I mean another rally may happen at any time .

This doesn't help for people who invested when the price was more than $10,000. Of course, they have nobody else but themselves to blame,
Adoption is the only thing which will drive up the price sustainably. Unfortunately for those who invested during the bull run, the price increase can only be gradual.

We are still up compared to last year.

But these news are actually good for the adoption and we've been looking for an appropriate impact when there are news like those. Sadly, we haven't seen any positive reaction that we've been hoping for after those. Well, it's not about only the price to see if there's a movement for bitcoin, save the best for the last.

so far whenever most people give up on bitcoin and think a rise is optimistic, like 2015 for example that is when the big rises start to happen again but when everyone is talking about how bitcoin is going to the moon like first months of 2018 when they said it is going to $50k soon, that is when the rise has come to an end.
i am not sure if we are at the 2015 stage yet but we are pretty close to it.

Well i don't think a lot of people would be too optimistic about that return to 20k though. And i don't see why you could be so sure it'll be the same as last year. Entirely different situation where the market is coming from now.

well, at the moment the price is really stable for the price of $ 6k. well, maybe next month can be a benchmark for the next bitcoin price. I hope, the price of bitcoin starts to grow, and starts to stabilize at a price of $ 7k or above.

For your information, "for now" is the important part of the topic. It means we do not need to bother high about current price levels.  Yes, it is settled at 6400 for now however we know that bitcoin doesn't stay at the same place for a long time, it moves and when it moves it moves quick and a lot. If it goes down it will go down to $5.2k levels or so, if it goes up it will go up to $7.2k levels or so.

These are more than %10 swings we are talking about and when it does it it moves in an hour or so at most, it doesn't take 3 days to move that much, it moves in an hour and takes everything on its path with it. So if you see bitcoin moving, you either step aside and let it be or you ride it till you reach your destination.

And in 2017 nobody was saying Bitcoin was going to hit $20,000 and we all know what happened. Just look at the predictions of Tone Vays, eh was saying $7500 was the best possible scenario in 2017. People always screw up on their predictions specially all these reputed analysis.

What we know right now is that it is re-testing $6200 which was when the drop from $7411 happened in september 5th. If we can get above this we'll keep going up, if it goes lower then get ready to buy the dip as usual.

No it will not be a great time for bitcoin, because many people before already said the same but things were different from their predictions. In the previous year people told that 2018 will be the year of bitcoin but we saw that 2018 is the worst year for bitcoin so far. How is it possible that the price will go up in the last quarter of the year? It is totally nonsense.

The price Bitcoin will never settle in one region because number of peoples are buy and sell at anytime so it should be raise and fall at continuously in the market. May be 21 million Bitcoin will released in the market we can predict some stable value of Bitcoin. I think december month we should expect some good result but 20k USD is unpredictable in crypto market.

I mean there really isn't any way around it, people wont suddenly start using bitcoin just because it's decentralized and a few other aspects. For most people using bitcoin or any other cryptocurrency to pay for stuff is much harder and riskier than using a credit card/bank/paypal.

I don't think ETF denial will be such a big deal just because most people already expect it to be denied but we will see.

This week that price is stable with more than 6000 dollars and I hope it will increase again. And Im still believe in the month of december it will pump again like more than 20k dollars. We do not want to see again below 6000 dollars so don't panic.

that's true, but i suppose that's why bitcoin works: greed. the mining incentive, limited supply, metcalfe's law......satoshi knew the economics underlying bitcoin would cause its incredible price rise if it ever caught on. people are (mostly) rational and they see that too by now, so it's only natural that they chase the price.

i remember an old trading buddy of mine used to say: "one day, the world is going to collectively realize there's only 21 million bitcoins, and that time is running out." i'd love to see more people adopt BTC as a currency, but there's no way around the greedy hoarding.

10 days at a price when some volatility is exist means there will be some steep move soon.
İ expect in a few hours to days a move to up or down but market need move just look at history of it.
By the way dont think that news will affect anything.

People here never fail to surprise me with their posts. If this was 2013 and maybe even 2014 the market might have given a shizzle about merchant adoption, but we're way past that stage already.

I remember how people were spreading fake news that Amazon was about to accept Bitcoin, lol. Noobs at some point really believed that. Threads were flooded with generic 'this is good news for Bitcoin' posts.

So much excitement but none of these noobs even use Bitcoin as currency. For them it's just good news because they think they can sell at a higher price. Say thank you to mainstream adoption to have these people here.

Fake news, Rolls Royce isn't investing in Bitcoin or any other cryptos. I am so tired of these people who just repeat like a parrot but are not able to understand what they read. They just repeat what they read here from the low information voter.
And if you think a bull run is coming because Rolls Royce accept BTC then you are so dumb

Even if we get to see some good bullish movement, which does not mean, we should expect the same movement compared to last year. The truth still remains that no one certainly knows how the market would behave in the short and long of it, but whichever way, we are still optimistic for the future. Things are changing fast, development will keep coming, things would get better, and at some point, price will skyrocket, but at this stage, even in as much as a lot of people are expecting a huge bullish run at the moment, I really would prefer to just stick with the trend.

Moreover, I sure expect something to happen before December and for sure we may start beginning to see the move before the end of this month. The bulls have always been around the corner and even as at now, they have been trying hard to hold the market together to some extent.

Nevertheless, either the bulls eventually set in later on, how long we go is still best known with time, which I may not be expecting as much as last year. However, it is, we are still upward and just experiencing a short downward correction.

If the market is berish, it is evident that the bull run will come. The only uncertainty is, when? But given that giants like Rolls Royce are now getting invested in this market, it means that the bull run is coming, soon. We just need to be patient.

I hope it's true, because I'm afraid everyone will get bored with this situation.
I hope that before December Bitcoin will show good changes.

Yes, that's right. It's always better to be prepared for anything and everything. Bitcoin prices have been going up by every year and this is no joke, and as far as bull run is concerned it could happen next month or next year. It depends on't the market condition since it easily gets manipulated.

Even though the coins are not that high in terms of the price, but we can see that the future of the coins in the market are bright. A giant like Rolls Royce and their interest in BTC only proves that the coin will hold a high value in the future and as a result, these whales are claiming their stake in the market.

What do you mean with: " Something is gonna happen before December for sure. " and about this:

Goldman Sachs = Goldman Sachs CFO: Recent Reports About Crypto Trading Desk Are ‘Fake News’

CBOE proposal = we will see on September 30th

BlackRock ETF = Coinbase Considers Launching Crypto ETF with Help of Wall Street’s BlackRock, Say Sources ( There is nothing concrete )

Rolls Royce Dealership accepting Bitcoins = Is good news, but it will not be enough to raise the price too much

The surge is yet to come. The end of the year 2018 will be a great time for BTC, I am getting the felling from now that the December 2018 will be golden time for the bitcoin miners and investors. There’s been a good journey from 2016 the price reached from around 3k to 6 and a half K.

The crypto market is so much volatile. With full of uncertainty but among this all bitcoin is going up for last 2-3 years. It has passed all the anomalies on the road and gained a great achievement. So, it could be said that it will gain a great success in the last of 2018.

It is the best time to invest on this market. In recent time bitcoin’s price is in a reasonable stage so you can buy this coin. After some days later bitcoin price will rise again.

The whole world is getting into cryptocurrency, the nations are talking serious positives steps, the bigger brands are connecting with crypto world daily. The crypto world is currently based on bitcoin so the assumption says that there is a huge surge is coming for bitcoin

Yes, there is many thing will going to happen as bulls are coming. If this is going like this we can not expect a stable market, seller will be loser.

That's a nice little F-U spike for the bears



We broke down from the local bear flag, but then bear momentum failed and we instantly retraced yesterday's dump. Good sign of a local bottom and short term recovery. If we can break above the $6,500 level, there should be another good short squeeze as late bears start chasing price. It'd be nice to see a bullish engulfing candle on the 1-day. Let's see how it closes.

The bigger picture is unclear to me for now......

That's interesting, I had not heard about that.  There must be quite a few crypto-bazillionaires in existence, and it kind of makes sense that at least some of them would be interested in buying a Rolls.  I'd love to see how that all plays out, whether any cars are sold for bitcoin or not.  Something tells me that the number won't be that high, but I hope to be wrong on that.

I get what you're saying here (and not much else, no offense), and I don't think the big bull run we've seen in bitcoin is over yet, either.  I don't think bitcoin has "settled" anywhere, though it's certainly possible that it could stall out at any price.  Bitcoin has done that in the past.  However, the above are past prices and I'm a firm believer that past market prices are no indicator of future behavior.  This is why I'm not a fan of technical analysis.

It definitely won't "settle" at $6400, first of all it dropped even further than that already but it will also go up, this is bitcoin we are talking about the price never settles for too long, it definitely doesn't move %10 hourly all the time but it just stays there for couple days than move.

When just a week ago the price was 7.200 dollars did we thought the price "settled" no because we knew that the price would eventually move to a direction, we just didn't know which direction. Same applies here, the price is low right now but I am sure it won't stay like this for a long time and it will move to a direction that will change soon.

Yea, probably the price would go around the $6K-$7K, more or less. Right not its around $6200 the same price we have last month so it means that we might see the price trading sideways again which for me is a good thing because its neither bearish/bullish unless some events again will trigger the price to go either direction.

I'm not really sure about any significant growth. Most probably the cycle will just repeats itself, minor pump, then a suddenly dump that will wipe out what we have gain and then trading sideways. Would be happy to see $8K-$9K, if the market will react positively.

Currently price is lower than 6400$ but this can change in no time.
Anyway, so far my expectstions were right and besides some smaller short term pumps, price hasn't changed or go up much it stayed in the framework between 6000$ and 7000$, more or less.
In the upcoming period I don't think that price will rise much but not even go down except some minor corrections. Some more significant growth could be expected at the end of the year.

Yes, I agree with you, this is perfect time to invest in Bitcoin again for profit. The market is currently stable around 6k-6.5k dollars, with the signs of a rise in price. And personaly I do not believe that the price could falls sharply down, I think it is the bottom.

The SEC won't approve any ETF's, regardless of how secure/trusted/safe it is for investors. If you look at the underlying reason for that, which is that the entire crypto market is driven by Asian demand, there is no way that we'll see anything change for the better in that regard. The SEC basically wants highly regulated exchanges within the US to be the main market makers, and that's near impossible, at least in the short to mid term.

What people tend to forget is that Coinbase has already a coin backed product (Coinbase Index Fund) available for institutions to invest in, but they aren't biting (yet). It has a pretty steep entry point of $250,000 but that shouldn't be used as an excuse as to why this product isn't generating more institutional interest. Perhaps that during the next leg up we'll see it gain more popularity, but till that time, there is not much demand.

For me it is a good time to enter the market and buy your stake again like lat time when it had e=reached 6k got some and sold it on profits. This is why you are said that buy on dips so that you can exits on profits else it will be other way around.

It is not already priced in IMO. I believe that it will be priced in ones we hear the news about ETF rejection or approval again. Either way, I think this BlackRock ETF have a bigger chance of acceptance in SEC because of it will track multiple cryptocurrencies that are currently listed in Coinbase's wallet.
Well, some newbies don't because they didn't care to research bitcoin's price history at all.

it is but it still is keeping investors away from coming back. for example if you look at the volume and the way bitcoin price is moving you can see it is not natural anymore. the volume is low and the rise and falls are stuck in a certain state that it rises slowly to the top of it and then is dumped into to suddenly crash down as if someone is taking profit in short term pushing the price to the initial level (bottom) to rinse and repeat and increase their wealth.

I think that's already priced in.

i still think there is a fear in the market about ETF rejection which is weird but it exists and it is making people want to wait. additionally this feels very much like 2015 the more we go on, as price hit the $200 bottom and people were giving up on bitcoin and going away with most people thinking bitcoin is dead just because it is not rising up fast anymore. but behind the curtains it was being accumulated by the "wise money" while being at the bottom.

Yearly is a good way to check if the price of bitcoin increase or not but this time I think we will stay around $6k to $7k this is just my speculation but since bitcoin is unpredictable bitcoin price can be increase more than what I expect.
Remember what happened on 2014-2015 if where the price reach $900 plus then the price is slowly falling and become stable until the price increased until 2016.
So, I feel that it could happen again this year and next year will be the year of bullish market.

People can't see longer than a few weeks or months. They always compare the Bitcoin's price with yesterday, last week or last months at the best.
Or they are young bitcoiner and not looking back to bitcoin's value history. You won't find any users old from 2 or 3 years complaining or dreaming about the price.
The price is growing over the years, as you point out. And everyone can see it, but some refuse to do so.

newbies and novices
imagine the price as the sea level vs the tip of the Alps mountain

at the tip of the alps. only 1 person at the very top took advantage of selling that the max price. just 1
where as EVERYONE can take advantage of the sea level bottom.
EVERYONE can today sell for more than the last 10month low of $5,800

yet the price has not dropped to that level since.
everyone can today take advantage and sell at over $5,801, $5802... and so on. but they are not.
so today the community combined has equally agreed that they wont sell below X which for the last few weeks has been $6k+
now while the cubs and calves play around above $6k we are still on a bull run from $5,800 because the WHOLE market has agreed on that.

ignore the 1 person who decided he wanted to buy at the peak and the 1 seller who decided to sell at the peak.
the entire community is agreeing we are in a bull market above $5,800 and have cubs and calves playing around the $6-$8k area

again using geography analogy
no one measures a sea level by the last tsunami's height. they measure it by the common agreement of what is the normal tide

cubs/calves are the low tide high tide that moves daily, seasonally
bull/bear are the sea level. the long term average of long term period

while typing this. the OP got proved wrong. the price is $6200. so the cubs and calves have still not agreed to play on a $6400 hill top. the cub chased the calve down the hill.
but the bulls are still above $5,800

Yes. +1

We could get used to these terms. Would make talks precise.

Its because there are still a lot of newbies thinking that bitcoin will always go on. parabolic rise. They forgot to realised that this market is very volatile and prone to manipulation. Year-to-year bitcoin is still up ($4000->$6500) so there's nothing to complained. Regarding bull run, might be next month or next year. My point is nobody really knows, if one way to find out is just to stick in the market and see how it goes.

Yes, things are still waiting for us in the front. From now to the end of the year will be really worth waiting for the growth

True. I see that most of the people here compare the current price with the ATH. Instead of this they should be comparing it with the lowest point of the year. Changing the perspective will change the way we trade. If you look at it this way then we can realize how much bitcoin is growing  over the year.
Expecting the bull run to return soon the price of bitcoin may rise soon.

Yes be strong. Bull is very coming, soon we will all reach the numbers we want. Do not forget, those who are patient will always dig.
But panic and sellers lose.

ignoring the highs. if you concentrate on the lows. and see where the lowest price of 3-6-10-12 month
you will see that bitcoin has always been on an upward movement

2016:  >$300
2017:  >$900
2018:  >$5,800

people need to realise the bull-bear switch over is not something that happens hourly or daily.
bull and bear are the longer term directions.

maybe what the financial buzzworders should use is
short term up = Calve (young bull)
short term down = Cub (young bear)

bitcoin has been bull but does get occassional calve and cub events

Goldman Sachs.

CBOE proposal.

BlackRock ETF.

Rolls Royce Dealership accepting Bitcoins.

September has and will be seeing a lot.

I can feel the heat. The bulls are coming. Something is gonna happen before December for sure.

Be strong.