What will be the bottom of current drop in bitcoin price?

Lampaster

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Quote from: Kukus on September 23, 2017, 08:51:14 AM

I've heard a rumors that situation in China was specially forced by Chinese government only for dropping bitcoin price. And it was made to invest some of the government "spare USD" into new asset while it low. After, they will change the rules to government controlled exchanges.
I do not know is it true or not, but there is some probability for such actions and scenario.

This is a very likely scenario. I very much doubt that the Chinese government is Amateurs. They can't abandon the prospects which are opened up China. Has long been the world wants to get rid of dollars. Having the opportunity to influence the bitcoin Chinese always have it.

Kukus

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I've heard a rumors that situation in China was specially forced by Chinese government only for dropping bitcoin price. And it was made to invest some of the government "spare USD" into new asset while it low. After, they will change the rules to government controlled exchanges.
I do not know is it true or not, but there is some probability for such actions and scenario.

BarbieCasino

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

Well! It is likely impossible to drop the price of the bitcoin to the lowest level or the bottom of the present currencies, a few days ago one of my friend told me about the price of the bitcoin that one user sold his bitcoin at the rate of 4500$ so I think the price of the bitcoin is not yet so low and as the bitcoin buyers and the sellers are keep on doing their job so it will not let the bitcoin fell down so the present price of the bitcoin is 4500$ according to my information.

iv4n

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Latest news pushed price down and after couple days I see that price is holding strong on 3500 dollars. Situation is not clear yet, and I think we will see more news about China in next weeks. I said it already I'm not worry about this drop, bad news can drive price under 3k and after everything about China come to an end and they find new way to trade with BTC money will come back in crypto market price will go up again. Also I said that price will be higher then 7000 dollars by the end of the year, and I still think that, drop didn't affect my optimism about bitcoin.

The Sceptical Chymist

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Quote from: iqlimasyadiqa on September 16, 2017, 11:14:25 AM

Quote from: HeRetiK on September 16, 2017, 08:48:13 AM

My money is on the bottom being at around USD 3k,-.

Since it's unlikely that we break the USD 4k,- until the whole China drama is put to an end once and for all, we'll probably be revisiting USD 3k,- fairly soon however. Nonetheless I'm fairly confident that it will be able to withstand a couple more days of attack.

Should USD 3k,- break, I guess we'll see a bit of support at USD 2.5k,- but more likely a new bottom slightly below USD 2k,-.

it seems like it will not happen. the price below 3,000USD has now become a dream because the price has exceeded 3,700USD. some people are celebrating to celebrate the rising bitcoin price in the global market. they are thankful that bitcoin has returned to the positive track. I became one of the parts and I see this is the beginning of a future that will be much better. bitcoin prices will indeed decrease, but we will continue to increase without stopping.

It's mostly the bitcointalk shitposters who are celebrating, because they can earn more money with their brand of putrid fecal forum contamination. I was hoping we'd drop to $2000.

Pretty sure we hit the bottom yesterday, but that could be an illusion. I'm not really bummed that we're rebounding, as I don't have much invested. I bought a whole bunch of silver with btc not too long ago because I thought the market had gotten too high, and that turned out to be a good call.

iqlimasyadiqa

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Quote from: HeRetiK on September 16, 2017, 08:48:13 AM

My money is on the bottom being at around USD 3k,-.

Since it's unlikely that we break the USD 4k,- until the whole China drama is put to an end once and for all, we'll probably be revisiting USD 3k,- fairly soon however. Nonetheless I'm fairly confident that it will be able to withstand a couple more days of attack.

Should USD 3k,- break, I guess we'll see a bit of support at USD 2.5k,- but more likely a new bottom slightly below USD 2k,-.

it seems like it will not happen. the price below 3,000USD has now become a dream because the price has exceeded 3,700USD. some people are celebrating to celebrate the rising bitcoin price in the global market. they are thankful that bitcoin has returned to the positive track. I became one of the parts and I see this is the beginning of a future that will be much better. bitcoin prices will indeed decrease, but we will continue to increase without stopping.

YuginKadoya

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Quote from: HeRetiK on September 16, 2017, 08:48:13 AM

My money is on the bottom being at around USD 3k,-.

Since it's unlikely that we break the USD 4k,- until the whole China drama is put to an end once and for all, we'll probably be revisiting USD 3k,- fairly soon however. Nonetheless I'm fairly confident that it will be able to withstand a couple more days of attack.

Should USD 3k,- break, I guess we'll see a bit of support at USD 2.5k,- but more likely a new bottom slightly below USD 2k,-.

I think we withstand the unlikely to happen in the coming days, maybe china's drama is still on going but I guess there is no need to worry about that anymore, the value is hanging on it's own without their help, I think there is so many support that we can surely be thankful of, But even if they are not here to give support to bitcoin we surely need to be thankful to them for their help in reaching this height,

well as for the bottom, I think bitcoin hit $2900 then comeback again at $3900, well I think we have a sure safe bottom on the $2000 mark value and bitcoin will never gonna go down that far so I think we can surely rejoice by that.

HeRetiK

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My money is on the bottom being at around USD 3k,-.

Since it's unlikely that we break the USD 4k,- until the whole China drama is put to an end once and for all, we'll probably be revisiting USD 3k,- fairly soon however. Nonetheless I'm fairly confident that it will be able to withstand a couple more days of attack.

Should USD 3k,- break, I guess we'll see a bit of support at USD 2.5k,- but more likely a new bottom slightly below USD 2k,-.

btc_angela

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Quote from: dothebeats on September 16, 2017, 03:51:17 AM

The bottom is $2800, and that is the farthest we can go for a drop. Right now, the market seemed to recover from a huge crash that's caused by China and the negative statements of Jamie Dimon. Interestingly, JPMorgan was one of the largest buyers of bitcoin in the last 24 hours according to Nordnet, and that is just 3 days after Dimon released his negative stance about bitcoin. The market is regaining traction, and hopefully $4000 can be broken within the next few hours.

Smart moved by the greedy Dimon. LOL. He created panic and see to it that it will go lowest at $2800 then took it as a good buying point then make a huge orders. But unless we can unmasked 1 market manipulators now. The price briefly touches $4000 and now its going down again to $3700. I hope that no one is trap so far. Its really hard to predict the movement right now, but if you look at it in 24 hours we almost experience a $1000 spike. Sort of scary to me, but hoping that we can hold cause no one wants to see it dip again below $3000.

Eugenar

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

The lowest value that the drop reached if I'm not mistaken is 3300, or something like that. But more importantly is that it is now beginning to rise again which is definitely a good news. It is now recovering over the fall and is climbing its way up. Hoping that it won't drop that hard again and hoping for the consistency of the pump that Bitcoin is now having. More power to Bitcoin and other cryptos.

RobJ

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$3000 is a very strong support level. There's a very good chance it will hold. This video from The Shares Guy explains it better than me.

https://www.facebook.com/thesharesguy/videos/1930445450542928/

shawn995

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Quote from: ricardobs on September 16, 2017, 05:53:38 AM

Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

I keep thinking that $3000 would be the bottom of the current drop in Bitcoin price. It won’t go below that. Lastly I checked out and the price was going back up and was already hitting the rate of $3,500. But let’s watch and see. All though November might be tough.

As you mentioned 3000USD i would like to say that 4000USD will come soon because there was a fake news about bitcoin now this is reality that bitcoin will touch 5000USD in the end of month.

ricardobs

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

I keep thinking that $3000 would be the bottom of the current drop in Bitcoin price. It won’t go below that. Lastly I checked out and the price was going back up and was already hitting the rate of $3,500. But let’s watch and see. All though November might be tough.

Samarkand

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Quote from: Kukus on September 15, 2017, 09:50:43 AM

Producing 1 BTC takes about USD1000, so I do not think it will continue unlimited drop down because of that. But it could reach USD2500-2700 level or so.

Is there a website that does track the actual average amount that it costs in hardware costs and electricity to mine
a bitcoin? This would be useful information for trading purposes, because that would really show where
strong buy support would come in (e.g. miners propping up the price to still be able to mine profitably).

Probably, you would also have to incorporate other expenses like taxes or payroll in the calculation (after all
someone has to maintain the mining operation and the respective state / municipality wants a cut of
the profits, too.

Kyraishi

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

I think that this month we will see price bottom out at around $2500.

Right now the price is pretty high at $3800. I wouldn't recommend buying because of the fact it can literally just go down at any second in a flash crash. It's not worth the risk especially with China being hostile with btc recently.

Anyways, do whatever you like to do. I would wait for the dip under $3k personally but you can make your own choices.

talkbitcoin

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.

bitcoin went down, ethereum like other shitcoins followed.
then bitcoin started to recover but ethereum was still on its downward spiral and still has not done any proper recovery.

you see bitcoin has a future and that is why a dip in bitcoin is an opportunity to buy in but a dip in an altcoin does not mean the same most of the times.

Quote

Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it?

that is why they say it! to fool you into waiting longer. that removes the resistance on the market and price can slide down easier and you will probably even panic and sell more helping the drop. all the while missing the buy chance at $3000 which was the bottom to buy at and $2950 the optimistic price to place some long shot orders.

btc-facebook

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

Sometimes , bitcoin market mostly being controll by some group that try to gain some benefit especially Chinese ICO got ban issue
Although CHinese got ban, there are still Japanese and South Korea that have more market than Chinese. Just stay still and hold most of your bitcoin or you will regret for waiting to buy cheap

dothebeats

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The bottom is $2800, and that is the farthest we can go for a drop. Right now, the market seemed to recover from a huge crash that's caused by China and the negative statements of Jamie Dimon. Interestingly, JPMorgan was one of the largest buyers of bitcoin in the last 24 hours according to Nordnet, and that is just 3 days after Dimon released his negative stance about bitcoin. The market is regaining traction, and hopefully $4000 can be broken within the next few hours.

DaMut

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for now $1000 marks target is a bit unrealistic,
let alone $1000,even we did not touch $2000 at the moment.
but it is understandable if we hit $2000 in the coming week or so,but i doubt it that we will hit below $2000.
this downtrend happened because of the chinese goverment banning people and exchanger in their country to do the trade.
but,they did not forbid it for them to do it off it right ?
so,in other words,it's like a diversion strategy.while we are focusing on the problem that they are banning it.
we did not realize it that many people still can buy it or sell it off their country.

for now i believe we will see another pump or might be we can hit $4000 tomorrow or today,
and after that another downtrend,if it's not really high i believe it'll be continous bull trend

davis196

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Quote from: nikisev on September 15, 2017, 05:31:44 AM

Hi all
Bitcoin and Etherium are going down for several days.
I dont think its the end game. I think its oportnunity to buy in.
Obviously i want to buy cheapest.
I hear different numbers. 3500 (passed) 2500. 1K.
What do you think will be the bottom of current drop and what can stop it? Like if hong kong says f**k it , you can open concurrency here free of taxes and what not.

You are too late,the price is going up.Hong Kong can`t say this,becasue they are a part of China.
Don`t trust the rumors,just HODL if you have any bitcoins and buy ,if you have money to buy.
That`s what most of the smart cryptocurrency traders do and that`s why the btc price is increasing.

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