Why bitcoin will go down below 6000 (explanation) - page 2.

MinerHQ

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Quote from: fibrolit on July 06, 2018, 10:27:10 AM

Or maybe this is due to the fact that now other crypto-currencies have also started to develop very actively?Why bitcoin is falling is falling all the others.Vicious circle...I also read that at the end of 2017, due to the growth of the exchange rate,many investors sold their bitcoins and these bitcoins got to the traders who are profitable to keep the rate falling.

I believe many investors didn't sell bitcoin around peak price because most of the investors were thinking that in 2018 they can see a new high and most of them are still holding. Currently, investors are worried that governments can put a restriction on crypto trading at any time so they are waiting for a regulation to this market. If that happens then again prices will start moving up. If not, we will see more lows than highs from the current level.

mrproblem

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This is what I am waiting also too. I have same idea like in first message in here

wuvdoll

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At this point, I really would not be surprised and the only thing that may end up overriding this is for us to break out from the downtrend channel with a very huge volume from here which does not look like a possibility for now. With the way things are going, I feel we have a last leg to that spot which could possibly lead us to those levels anytime soon before any possible short term reversal which I am gladly looking forward to.

When last week of June was full of uncertainty, bitcoin showed its class. Yes, even prices dropped below $6000 levels. it did not hold up there. Immediate bounce back happened. Compared yesterday's prices, market is trading down today but I am not thinking it will move down further.

lance04

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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.

tranduc2101

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Bitcoin drops below $ 6,000 because demand buys for Bitcoin by investors around the world drops. But I think the only reason Bitcoin prices are down is the market trend

zero9119

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Quote from: Sum24 on July 06, 2018, 08:02:33 PM

Quote from: crypto_futurer on July 06, 2018, 08:43:18 AM

This is really very useful information for acquaintance, but it seems to me that bitcoin will not drop below 6 500 dollars. Now buyers are very strongly uphold this price level.

Exactly that is so informational new because some new buyers were losing Patience when the price was started to fall but finally they will get the news that price of bitcoin will not go lower hat 6000 dollar,. I think as more people has started to buy so that’s why price has stopped falling and now moving to rise, it is nature of bitcoin after touching bottom bitcoin bounce upward which is now going to happen till the end of 2018 so holds and wait I am sure soon price will be high.

There have been positive signals about the uptrend of the cryptocurrency market in the past few days but it is not clear yet so the next trend of the market has not been determined yet. Be prepared for any situation, divide your capital, and have a proper backup strategy is what you should do.

denisaardelean

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Quote from: crypmike on June 15, 2018, 06:33:10 PM

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. Wink

Have good profits!

You can see that bitcoin prices have been falling continuously since the bitcoin hit $ 19800, so the bitcoin price is now at $ 6500 and is still falling. The market is in a downturn in the long term and we are preparing to face the global economic crisis, so the bitcoin price may continue to fall sharply and may fall to the $ 1000 mark. by the end of 2018.

gabmen

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Quote from: bitllionaire on June 18, 2018, 10:05:04 AM

Quote from: Sigmas55 on June 17, 2018, 08:56:38 PM

I can't tell what is the bottom for BTC price, all I know is that this huge downtrend from 20K down to 6K (and possibly lower) will not be followed by a spike in price like we see with some altcoins, BTC tends to go up in a parabolic movement, looking at the chart right now, a parabolic trend has not touched its bottom yet.

No one can know about the dept of bitcoin, but still i am sure that bitcoin price is not going to drop below 6000$ but will hopefully start increasing very soon. Because investors know about the potential of bitcoin and therefore they will never let it go below 6000$. I think that investment in bitcoin in current price is a good decision, and will surely give you a good profit.

You really think it's up to investors dude? I don't think so. That's why i don't think you can be sure of anything. We've already gone below 6k and it's likely it will happen again. I just prepare for whatever can happen, basically that's the best we all can do.

Sum24

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Quote from: crypto_futurer on July 06, 2018, 08:43:18 AM

This is really very useful information for acquaintance, but it seems to me that bitcoin will not drop below 6 500 dollars. Now buyers are very strongly uphold this price level.

Exactly that is so informational new because some new buyers were losing Patience when the price was started to fall but finally they will get the news that price of bitcoin will not go lower hat 6000 dollar,. I think as more people has started to buy so that’s why price has stopped falling and now moving to rise, it is nature of bitcoin after touching bottom bitcoin bounce upward which is now going to happen till the end of 2018 so holds and wait I am sure soon price will be high.

fibrolit

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Or maybe this is due to the fact that now other crypto-currencies have also started to develop very actively?Why bitcoin is falling is falling all the others.Vicious circle...I also read that at the end of 2017, due to the growth of the exchange rate,many investors sold their bitcoins and these bitcoins got to the traders who are profitable to keep the rate falling.

Tapyaks72

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Quote from: crypto_futurer on July 06, 2018, 08:43:18 AM

This is really very useful information for acquaintance, but it seems to me that bitcoin will not drop below 6 500 dollars. Now buyers are very strongly uphold this price level.

Actually it is pumping up but cannot sustain eventually, because small player's just playing the fluctuations, buy at low prices and dump in short period of time while the prices is little bit just earn little profits, when time comes that big whales will play that’s the time that it will rocket.

1Referee

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Quote from: xitrum on July 06, 2018, 06:59:37 AM

Yes, I think bitcoin prices will probably fall to $ 6000 and they may fall further and may reach $ 1000 by the end of 2018. The market is in a downtrend stage and it is difficult to recover as the world is facing the global economic crisis. As a result, bitcoin prices will fall dramatically in the near future, so you should not invest in bitcoin.

Your words only make sense if you short the crap out of Bitcoin right now and provide screenshots or video content (better option) so we can see if you actually believe in your nonsense.

From $6000 to $1000 plus leverage will net you a massive profit. You are crazy if you don't do it if you are so confident of yourself. Also don't forget to short altcoins because they will go down way harder, which means that you will net even more profit. Grin

People quite often hate future markets and all other platforms because you can short Bitcoin right now, but this is the best way to shut up naysayers; either short or gtfu.

crypto_futurer

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This is really very useful information for acquaintance, but it seems to me that bitcoin will not drop below 6 500 dollars. Now buyers are very strongly uphold this price level.

crypmike

sr. member

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Quote from: xitrum on July 06, 2018, 06:59:37 AM

Yes, I think bitcoin prices will probably fall to $ 6000 and they may fall further and may reach $ 1000 by the end of 2018. The market is in a downtrend stage and it is difficult to recover as the world is facing the global economic crisis. As a result, bitcoin prices will fall dramatically in the near future, so you should not invest in bitcoin.

Don't believe in $1000) It's about 95% down

xitrum

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Quote from: crypmike on June 15, 2018, 06:33:10 PM

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. Wink

Have good profits!

Yes, I think bitcoin prices will probably fall to $ 6000 and they may fall further and may reach $ 1000 by the end of 2018. The market is in a downtrend stage and it is difficult to recover as the world is facing the global economic crisis. As a result, bitcoin prices will fall dramatically in the near future, so you should not invest in bitcoin.

gamalzour

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Quote from: @bamaricibo on July 01, 2018, 04:40:26 AM

As I think there are so many pennies out there, they compete strongly with the BTC, so they have taken away a large number of investors from the BTC. The BTC trading volume should be reduced, which pushed the BTC price down.

Well I have been here for long time seeing the ups and downs of bitcoin and all other altcoins trying to compete with bitcoin, I haven’t seen anyone. This is really strange that you are claiming there is an altcoin that is comparable to bitcoin. Although every altcoin have its own nature and behavior, but performance is the actual measure. And in this race, bitcoin leads at the first for so long time.

izanagi narukami

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Based on chart trend , yes it will go down but remember bitcoin still bitcoin, the cryptocurrency that still able to amaze us because the value can change without being expect.
For example : right now bitcoin is green and weekend always red but it still maintain on $ 6000 so I think it will stay $ 6000 on this second semester !

upsidedown75

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Quote from: Tytanowy Janusz on June 17, 2018, 05:13:23 AM

Quote from: Tankdestroyer on June 17, 2018, 05:01:15 AM

Quote from: BTCLovingDude on June 17, 2018, 02:12:47 AM

why did you choose 2013-2015 chart to compare with 2017-2018 chart? bitcoin was not created in 2013.

He chose 2013-2015 chart to compare with 2017-2018 chart because he probably thinks that "history will repeat itself" and IMO, 2013-2015 chart is the perfect one to use in order to say that since it is the time span where the biggest rise and dump of price happened(the biggest one before the 2017 bullish run started).

Quote from: crypmike on June 15, 2018, 06:33:10 PM

Of course, this is nothing more than theory.

It is an interesting theory but IMO price will not go as far as 4800$ since bitcoin have more real volume and support now.

2014 and 2018 has also 1 connection. MTGox case. In 2014 MTGox was hacked and in 2018 he is selling found bitcoins. In september court will decide whats with rest bitcoins which are waiting on decision on mtgox wallets (https://www.cryptoground.com/mtgox-cold-wallet-monitor/) 137k bitcoins worth close to 1 mld $ at current price.

http://www.businessinsider.com/bitcoin-price-speculation-mt-gox-bitcoin-wont-be-sold-until-september-2018-3?IR=T

That MtGox ghost just still ended up haunting us to cause such a stir up in the market. It seems until we are completely done with this MtGox issue before we can actually start seeing things playing out differently in a way. However, the drop was imminent anyway and it was more like the MtGox dump actually made it a whole lot faster or more like aggravated it. It sure looks to me though that history is somehow finding a way to repeat itself this time around.

ivankoh

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Quote from: MMnoob on July 01, 2018, 04:40:10 AM

probably because investors are starting to think again to invest in bitcoin and trades every day starting to fall so maybe that is a bitcoin factor going down considerably. hopefully big investors give energy back.

The downward trend of the entire cryptocurrency market has not stopped so anything can happen during this time, the worst scenario I think Bitcoin may drop below $ 4k. But I still have confidence in the cryptocurrency market and Bitcoin will bounce back in the end of this year.

@baracitamon

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Because the whale they sold the BTC out to withdraw money. Therefore, the sale of BTC is too high, causing the supply to increase so the BTC price is going down gradually. But in the future, perhaps by the end of the year the whales will continue to pump in the market again.

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