https://twitter.com/smartcontracter/status/1007532346201870337?s=21
Topic: Why bitcoin will go down below 6000 (explanation) (Read 666 times)
Nice bottom thread by @Smartcontracter
https://twitter.com/smartcontracter/status/1007532346201870337?s=21
https://twitter.com/smartcontracter/status/1007532346201870337?s=21
I quite agree with you. At present, financial markets like us have been weakened by the ongoing economic wars in major countries. I think we should not invest anymore, sell them as soon as possible and wait for the bitcoin to return to $ 4000. That would be the best price to buy.
You know that theories like that don't work, right? The proper way to act and benefit from a market that could go down further, is to dollar cost average as long as you need to buy the final bottom.You can't possibly know where that bottom is. It could be anywhere between $2000-$5000 or we might have seen the final bottom already. If you sell now you'll lose out by having to buy back your coins at much higher levels.
I say much higher levels because you'll initially wait for the price to correct again, which it just as easily might not, and by the time you decide to buy back, you get less coins for the same amount of fiat back.
And 5 months after the OP has open this thread, it looks like we're getting closer to what he said earlier. There are a lot of predictions lately saying that we're closing to the bottom which is around $4k-$5k.
And if you're going to look at the current price, yes, it within that price range. Its a big scary though because we would have never thought of it plummeting to this price range, however, I'm thinking that it we bottom at this price, the only logical thing to happen next is to go up so I'm taking this opportunity to accumulate small portions of bitcoin and get to that 1 BTC we've all been looking for.
And if you're going to look at the current price, yes, it within that price range. Its a big scary though because we would have never thought of it plummeting to this price range, however, I'm thinking that it we bottom at this price, the only logical thing to happen next is to go up so I'm taking this opportunity to accumulate small portions of bitcoin and get to that 1 BTC we've all been looking for.
Hello everybody!
People are trying to guess where is the final point of the current market dump
I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets
1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000
UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?
2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k
3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination
UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..
Of course, this is nothing more than theory. But I hope that was at least interesting.
If you found his post interesting, I will be really appreciated for +merit.
Have good profits!
People are trying to guess where is the final point of the current market dump
I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets
1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000
UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?
2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k
3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination
UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..
Of course, this is nothing more than theory. But I hope that was at least interesting.
If you found his post interesting, I will be really appreciated for +merit.
Have good profits! Actually the repetition of fluctuations of bitcoin price every year. But it's happening in alternative manner. Last year the price of bitcoin had increased the maximum price. Now the the price of bitcoin is moving in a negative fluctuations. Hope this is not a permanent one, if so many will lose their investment. The people who want to get the money out from cryptocurrency will get some loss.
Hello everybody!
People are trying to guess where is the final point of the current market dump
I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets
1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000
UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?
2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k
3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination
UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..
Of course, this is nothing more than theory. But I hope that was at least interesting.
If you found his post interesting, I will be really appreciated for +merit. Have good profits!
People are trying to guess where is the final point of the current market dump
I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets
1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000
UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?
2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k
3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination
UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..
Of course, this is nothing more than theory. But I hope that was at least interesting.
If you found his post interesting, I will be really appreciated for +merit.
Have good profits! Well , first part of this prognosis became reality - bitcoin broke boundary 6000 $. Respect for accurate theories. As for other points i would suggest to change them in other direction. Let us see btc rise
I think there are many reasons for the decline in Bitcoin prices. One of the things that I think is happening is that there is a community that manipulates prices, they simultaneously disrupt the market situation and when this happens they have made many investors panic to sell the Bitcoin they have. This is what will worsen the situation and of course, as we see now, which has a very significant price reduction !!! Bitcoin prices have dropped dramatically and we will never know how long this will happen.
We don't know why the Bitcoin will falling down like this but we had the ability to grow of the Bitcoin in short period of time so the only thing we can do just hold on for long time and make some investment in cryptocurrency this will be the lead to growth value of cryptocurrencies.
I quite agree with you. At present, financial markets like us have been weakened by the ongoing economic wars in major countries. I think we should not invest anymore, sell them as soon as possible and wait for the bitcoin to return to $ 4000. That would be the best price to buy.
I think there are many reasons for the decline in Bitcoin prices. One of the things that I think is happening is that there is a community that manipulates prices, they simultaneously disrupt the market situation and when this happens they have made many investors panic to sell the Bitcoin they have. This is what will worsen the situation and of course, as we see now, which has a very significant price reduction !!! Bitcoin prices have dropped dramatically and we will never know how long this will happen.
Hello everybody!
People are trying to guess where is the final point of the current market dump
I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets
1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000
UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?
2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k
3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination
UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..
Of course, this is nothing more than theory. But I hope that was at least interesting.
If you found his post interesting, I will be really appreciated for +merit. Have good profits!
People are trying to guess where is the final point of the current market dump
I have a theory why bitcoin will go down to 5000-4800 levels, I'll try to explain my theory. It based on some observations of past markets
1)
First of all, let's compare Market Cycle graph, Chart BTCUSD 2013-2015, and the current chart. I made an image, https://imgur.com/a/dKBcQ1H
As you can see, a lot of similar points and in general they are VERY SIMILAR
So, Capitulation phase is higher then Anger, Anger is higher then Depression
That's why I can easily imagine, that the price will go below 6000
UPD: 1a) also found GOLD chart — https://imgur.com/a/k6AzZPc — looks also familiar, right?
2)
Recently I found very interesting graphics, based on comparison of the current price chart and Wyckoff charts https://imgur.com/a/opLle8O
This is the second reason why the price can go below 6k
3)
So, where it will stop exactly?
I think, we should keep in mind an area 5000-4800, because this is strong support level and also global 0,236 fib level, what makes it even more powerful
https://www.tradingview.com/x/Ml9uJDfU/
I think this could be the final destination
UPD: 4) https://i.imgur.com/kUyjTO1.png. 80% downtrend is about 4k even..
Of course, this is nothing more than theory. But I hope that was at least interesting.
If you found his post interesting, I will be really appreciated for +merit.
Have good profits! And it really goes down to these levels which had a lot of panic to all the people inside of the crypto space. But I know that it will go back up again or maybe would start to make the next big rally.
still actual
The comparisons are good as a theory but it cannot determine the future trend as only demand creates the trend in crypto trading. Bitcoin has already went as low as $4800 this year and current holding at $6200. If the price goes below $6000 then it might go as low as $5200 in my opinion. Anyway, if it goes low the chances are that it will bounce back quickly and start for the bull run.
Thanks for sharing the useful explanation because I have never thoughts that there are so many reasons. I believe that the price will increase soon and it will become larger than it is now
Exactly. The current price is more than $6000 and it is expected to rise again. There was a rise in the value of Bitcoin as July started and this rise was though to be the start of the recovery and the finally the boom but this did not happen. Besides, the experts continue to speculate about the rise in the price in future as the expansion of the technology has paced up which in tern has boosted the inflow of funds to the crypto market and this is the reason why it will rise again.
Everything happen has a reason bitcoin is on the early progress and it have many roads to be taken just trust bitcoin and hodl it wait for the November and bitcoin will jump again to the moon.
The price of Bitcoin decreased because it was deliberately omitted by those who manage the market. And the market is managed by "whales", they buy at an affordable price, in order to raise the price and earn their billions in autumn or winter.
Thanks for sharing the useful explanation because I have never thoughts that there are so many reasons. I believe that the price will increase soon and it will become larger than it is now
I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.
I thought bitcoin will continue to increase but im wrong and here we are again now, bitcoin going back again on 6k $ and for sure many new investors got panic and maybe some of them sell their bitcoin .because of the changes of the law of the demand and by the way it is a normal.
I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.
I thought bitcoin will continue to increase but im wrong and here we are again now, bitcoin going back again on 6k $ and for sure many new investors got panic and maybe some of them sell their bitcoin .because of the changes of the law of the demand and by the way it is a normal.
I think the reason behind why bitcoin will go down below six thousand it because of the sudden change of business environment and also
because of the changes of the law of the demand and by the way it is a normal.
I thought bitcoin will continue to increase but im wrong and here we are again now, bitcoin going back again on 6k $ and for sure many new investors got panic and maybe some of them sell their bitcoin . because of the changes of the law of the demand and by the way it is a normal.
For sure, this is just a theory, but this scenario still possible
So far I agree with your explanation but it's too early to give up and panic. Bitcoin is normally has a volatile attitude to counter it just trust and advertise more bitcoin so that many investors are getting involve.
I do as well because if we really want to look at the way things are presently, it is becoming glaring that history is actually somehow beginning to repeat itself. We still have a long way to go though, anything can change at any time, but for now, we sure are on the track of history.Nevertheless, this does not change anything and we probably are going to be hitting it anyway based on lot of technicalities, so I guess we will have to wait and see how things would evolve.
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