Topic: What happens if BTC's price falls to $8,000? (Read 793 times)

In long run bitcoin is bound to have a bright future. So even if bitcoin falls to low levels I will hodl the bitcoin as much as possible

In long run bitcoin is bound to have a bright future. So even if bitcoin falls to low levels I will hodl the bitcoin as much as possible

In 2018 bitcoin once touched 8000$, but in my opinion it is impossible to return to the 2018 price. even if it drops by 20,000$ at most. Because since 2016 I know bitcoin has never returned to the price of the previous 4 years.

Indeed, but same to other people who has bitcoin. Many people will panic sell of course, those who are new to crypto will have a larger potential to do this thing, many people will still buy bitcoin but most of them will be surely large entities and big companies, whales will be happier if this thing happen, they will manipulate the market so they can gain more bitcoin and accumulate more.

In 2018 bitcoin once touched 8000$, but in my opinion it is impossible to return to the 2018 price.

even if it drops by 20,000$ at most. Because since 2016 I know bitcoin has never returned to the price of the previous 4 years.

The crypto market isn't essentially or intrinsically affected by the situations of other financial markets. The reason it is being dragged along is that many investors trade on multiple markets (together with many other factors). They usually move assets here and there but sometimes, they scrape off multiple assets into their pockets all at once. Some of them treat their crypto assets as a lifejacket, which keeps them afloat when the rest of their assets are sinking. Dependence on crypto usually entails increased sell-offs.

Just when we thought things are starting to quiet down and getting ready to swing back, the Federal Reserve announces that they will raise interest rates and tighten their monetary policy to combat inflation, landing another strong blow on the already beaten financial market. And we're likely to see more interest rate increases in the future until they bring inflation under control. One expert says that if economies don't hold up amid these hikes, Bitcoin's price might plunge further to about 70% of its current price, which is around $8000.

But of course, the Fed is careful not to trigger a full-scale recession that will take years to reverse so they'll jack up rates slowly to allow economies to grow simultaneously. Aggressive hikes are out of the question. Raising interest rates helps slow down the economy. When the economy reaches a point tolerable for both consumers and providers, it will start increasing its pace again. This will hopefully prevent any unwanted trends in the crypto market.

But like every bear market we've faced in the past, this situation is temporary. No matter how low Bitcoin's price goes from here, it will recover. That's because the only significant issue big investors have with Bitcoin and crypto, in general, is that they are, in the words of ECB chief Christine Lagarde, "worth nothing." And this can be solved by creating an ecosystem where people get used to using cryptocurrencies for transactions and are confident they will hold their value, which can be achieved with additional technological advances.

If there's one thing humans are good at, it's creating technological advances. And if there's one thing that won't slow down or stop from advancing anytime soon, it's technology. So we are heading that way no matter what.

I understand the fear that BTC will have another correction to 8k but I see that as a huge buying opportunity. Personally, I’m of the opinion that bitcoin Is here to stay and have faith in the technology being relevant in the foreseeable future.

As more and more corporations invest, governments adopt it as legal currency and innovators find new uses for the blockchain; the value will inevitably increase to new highs. At bottom, I’m a long hold on bitcoin and see any dips as opportunities for others to get in.

I understand the fear that BTC will have another correction to 8k but I see that as a huge buying opportunity. Personally, I’m of the opinion that bitcoin Is here to stay and have faith in the technology being relevant in the foreseeable future.

As more and more corporations invest, governments adopt it as legal currency and innovators find new uses for the blockchain; the value will inevitably increase to new highs. At bottom, I’m a long hold on bitcoin and see any dips as opportunities for others to get in.

The crypto market isn't essentially or intrinsically affected by the situations of other financial markets. The reason it is being dragged along is that many investors trade on multiple markets (together with many other factors). They usually move assets here and there but sometimes, they scrape off multiple assets into their pockets all at once. Some of them treat their crypto assets as a lifejacket, which keeps them afloat when the rest of their assets are sinking. Dependence on crypto usually entails increased sell-offs.

Just when we thought things are starting to quiet down and getting ready to swing back, the Federal Reserve announces that they will raise interest rates and tighten their monetary policy to combat inflation, landing another strong blow on the already beaten financial market. And we're likely to see more interest rate increases in the future until they bring inflation under control. One expert says that if economies don't hold up amid these hikes, Bitcoin's price might plunge further to about 70% of its current price, which is around $8000.

But of course, the Fed is careful not to trigger a full-scale recession that will take years to reverse so they'll jack up rates slowly to allow economies to grow simultaneously. Aggressive hikes are out of the question. Raising interest rates helps slow down the economy. When the economy reaches a point tolerable for both consumers and providers, it will start increasing its pace again. This will hopefully prevent any unwanted trends in the crypto market.

But like every bear market we've faced in the past, this situation is temporary. No matter how low Bitcoin's price goes from here, it will recover. That's because the only significant issue big investors have with Bitcoin and crypto, in general, is that they are, in the words of ECB chief Christine Lagarde, "worth nothing." And this can be solved by creating an ecosystem where people get used to using cryptocurrencies for transactions and are confident they will hold their value, which can be achieved with additional technological advances.

If there's one thing humans are good at, it's creating technological advances. And if there's one thing that won't slow down or stop from advancing anytime soon, it's technology. So we are heading that way no matter what.

Luna and other altcoins that dumped hard are not forgotten but they are already part of the crypto history and on some time, people will always talk about them and compare them to the best cryptos. For the luna coin, there are still some hope left and people don't give up buying the coin. They expect that the team will pumped it to at least a dollar. Indeed the dump that happened in bitcoin is not the first but it will also not be the last.

I guess that's the reason why some people are confident to wait even if the price have already dumped. They are not afraid to miss the chance because there's always next time. Right, corrections isn't only just a correction but it has a double meaning to some of us.

"Temporary." That's accurate.
If ever it goes down to $8000 there will always be buyers waiting. Bitcoin ain't like Luna or other altcoins that was forgotten after being dumped hard.
It created a strong trust that even at it's lowest there will always be high amount of demand.
Remember, it will not be the first. Last know dump was from $20k to $3k and look at where it is now. They call it correction but I call it the strength of Bitcoin and it's nature of volatility.

People would definitely sold many of their physical assets just to buy bitcoin at that price because they will think it will give them huge gains once it goes up again. Bitcoin is above $20k for more than a year now so it's easy to say many people bought above that price. No one would be stupid enough to sell their bitcoin just because of the fear in market sentiment. It would take many hodlers and whales to sell to bring the price of bitcoin that low.

So basically you read that article about that minard guy who said Bitcoin might go to $8K correct?

He had like 3-4 predictions in the past and all of them were incorrect. You would of been better to countertrade him.

When he says to buy you sell and vice versa. If anything this is a bottom signal.

It won’t fall suddenly because that’s not how the market will work for bitcoin. Bitcoins market cap is enormous and huge, by the time it has dropped to 8k window, volume will suffer multiple bearish and bullish trends on the way. Just like now, it went up and down creating roller coaster graphs before hitting the bottom rates. However, we have to understand for every bottom there is resistance. For reaching it to 8k bottom would mean more than 50% of peeps are selling every satoshi they posses so as to cut down the prices and loosing liquidity.