Topic: Will Bitcoin Correct to $6,500? (Read 1003 times)
And now, don't we see BTC going down to $ 6500 as you predicted? And how did you deal with this situation? Keep waiting, have decided to invest with it? Your predictions are baseless, without any information or analysis to convince people here of your predictions.
Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.
Undoubtedly, the situation in the cryptocurrency market can dramatically change in a short time due to certain news in the information space or due to the actions of speculators or other players in the cryptocurrency market. We have witnessed a decline in prices for the highest rated cryptocurrencies much lower than $ 6,500, just like when Bitcoin prices rose to $ 20,000. But I can’t understand, How do certain cryptocurrency users confirm a price reduction to $ 6,500 in the near future? There are no prerequisites for this and there are no exact facts that would confirm such changes.to panic and start to react in the wrong way. better to take your own path and start trying to figure it out with your own analysis, the idea of keep
holding and try to buy more once the value fell that hard while keeping those coins then wait for another bounce will work and bring better benefits.
Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.
Undoubtedly, the situation in the cryptocurrency market can dramatically change in a short time due to certain news in the information space or due to the actions of speculators or other players in the cryptocurrency market. We have witnessed a decline in prices for the highest rated cryptocurrencies much lower than $ 6,500, just like when Bitcoin prices rose to $ 20,000. But I can’t understand, How do certain cryptocurrency users confirm a price reduction to $ 6,500 in the near future? There are no prerequisites for this and there are no exact facts that would confirm such changes. 
Price might go down bit further but $6,500 is bit scary to even imagine as mid level investors and begginers will incur huge loss if this happens as they might sell off in panic, wherein smart investors will wait for the value to reach rock bottom to reinvest as it's always someone's loss and someone else's gain. Anything is possible in next 3 month.
I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.
I agree if the bitcoin prices will be failing to test $11k to $12k levels then definitely it will come back but it is too early to expect it to test those regions. I mean to say we must give some more time for market to accommodate and then to continue its rally. I believe those levels like $6500 may not be seen forever within bitcoin markets. Yes, those price levels must have gone forever and we are going to test new ATH in coming months.
I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
Because 1. History is fond of repeating itself. 2. It appears BTC has been over bought and what follows is a steep price fall as the stale market prices will cause many to liquidate a major portion of their assets - this goes for mostly speculators; when the price doesn't go above 11-12k region.
I don't think that it would go that far for the price correction.
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
The latest pump was just a small price increase and we have already been around $8-9K for about a month now so why would it suddenly go down to $6K?
$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
May not be an immediate dump. We're talking 6-7 months from now. And it appears the chart may begin to look something in that direction already. Best case, the dump may stretch out till the end of the year.
I guess I need to correct you here. If there is bad/negative news than bullish bearish trend would continue. The markets would not completely depend on the news as there already are thousands of news platforms which are actively sharing negative as well as positive news so the media has itself balanced itself.
I really do not think that the bitcoin market moves according to the media trends, there was a time when the market moved like that but not anymore in my opinion but if there is a huge movement of coins then they market usually goes down fearing someone is planning to dump the coins.The market will have a slight correction every time we reach the resistance point but not expecting a huge dump to $6500 at once, even if it happens it will be a gradual move.
I think it wouldn't go down that much, Already a correction has been begun but current strong support level is 9100$ so in my perspective it may break 9500 level and after breaking 9500 bull will play action again. Always do your own research I only shared my perspective.
$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
May not be an immediate dump. We're talking 6-7 months from now. And it appears the chart may begin to look something in that direction already. Best case, the dump may stretch out till the end of the year.
$6500 would be a massive dump. By no chance I think bitcoins would go such down to below $7000. The maximum dump I can expect is $8500 and then again bitcoins would start rising. There would be a dump before we could test another resistance. Testing the resistance is not getting much difficult for bitcoins as already we saw bitcoins crossing 10k.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
The current charts might be showing a initial dump but it might not be permanent. The price would start growing once bitcoins experience a dump and maybe the graph would continue going in the ascending direction until ATH peak is reached. There are huge expectations from bitcoins this year and let's not ruin them all.
do not know yet, whether to go to $ 6500 or not, all depends on the situation of the market now, if there is bad news then the bullish trend will end, always use risk management
I guess I need to correct you here. If there is bad/negative news than Now, everything which we could depend upon is the price correction. The current resistant has been crossed but bitcoins continued downgrading after testing the resistant which might predict us that there would be some initial price dump which might be a point to buy coins. Of course, if would not be such excess as OP stated as there is strong support at various levels like 9500, 9000, etc which would never make the price break to 6500.
do not know yet, whether to go to $ 6500 or not, all depends on the situation of the market now, if there is bad news then the bullish trend will end, always use risk management
bad news and good news are always present in the market, the effect depends on the gravity of the news, if the good news is bigger then the bull run will continue. Don't underestimate the crypto market as it has survive a lot of bad news and reach this good price, one of the big bad news in the past was "china banning bitcoin" IIRC , and there was a FUD but eventually bitcoin recover, rise and make a new ATH.
Right now bitcoin is not at the correction stage, not yet anyway. Right now we are trying again to break over $10k and we try that multiple times in the recent weeks and we will continue to do so for a long time as well. The reality is the fact that we can't just let go of the gas pedal for now because we are too deep into this bull run and it can't end when it is not even going anywhere proper just yet.
We reached from $7k levels to $10k levels and that is amazing, that is not bad at all, however in the history of bitcoin increases that is something doable, we literally went from $3.5k to $13.8k last year on a bull run, that was a proper bull run, this is more like a good hype. So, we need to reach to levels like $14k or more in order to start going down again.
We reached from $7k levels to $10k levels and that is amazing, that is not bad at all, however in the history of bitcoin increases that is something doable, we literally went from $3.5k to $13.8k last year on a bull run, that was a proper bull run, this is more like a good hype. So, we need to reach to levels like $14k or more in order to start going down again.
do not know yet, whether to go to $ 6500 or not, all depends on the situation of the market now, if there is bad news then the bullish trend will end, always use risk management
If you're not sure what's going to happen, then the right move would probably to hedge your bets. Can't decide between USDT and BTC? Then probably put 50% on each instead. Even if we're a few months away from the halving, prices are still not guaranteed to rise so act accordingly.
Good advice.
As for 6000-6500 happening.
Well
415 dec-2015
447 jan-2016
379 feb-2016............................ feb-2020 about 95-100 days before ½ ing
419-mar-2016
421-apr-2016 95-100 days before 2016 ½ ing
452-may-2016
577-june-2016
647-jul-2016
587 8/11/2016
605
640
714
767
785 jan-2017
1008 feb-2017
we look okay based on past preformance.
Not sure that the past ½ is the same as this one so hedging is okay.
Good reference, only if derivative contracts were available back then, it would have been easier to have that fundamental play in the price action. Now, there are too many factors, interest parties and rapid blockchain intake, it may beat previous expectations. But no one truly knows for sure.
No, because it already did that. It's not just gonna go back to the price is already tested.
Devil's advocate: Go back to 2015. The market tested the $220 area twice (in April and June) before running into the $300s to form a structural higher high. Then it unexpectedly crashed to $200 before recovering and then truly entering a bull market.
So going back to retest the bottom is possible. Is it likely? Maybe not.
My experience is the "we need one more test of the bottom" crowd usually misses out on big moves because they always wait for a perfect entry that rarely comes.
No, because it already did that. It's not just gonna go back to the price is already tested. If there's a correction it'll be higher than that. Just like in late 2019 it didn't go back to 3000s, it went to 6500. 6500 was testing following a long term (6 month) downtrend, that price is gone now.
did it really disappear? obviously we don't know yet, because if the price of Bitcoin shows a bearish trend, I am very worried that all support will be passed, which is the most frightening, hope Strong support is at $ 7,500
No not at all, but it might stay more time under 10k who know but to drop so low no.
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