Will Bitcoin reach $ 3884 again? - page 2.

kotajikikox

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Quote from: python888999 on March 16, 2020, 03:19:27 AM

202003106

BTC: Short to $ 3884
ETH: Bearish $ 87
XRP: Bearish to $ 0.1
BCH: Bearish to $ 135
BSV: Bearish $ 80
LTC: Short to $ 24.79

Overall market: bearish

Assets plunged last week:
Bitcoin (-42%), oil (-24%), gold (-8.67%), Italian FTSE MIB (-36.36%), US stock Dow Jones (-16%)

Rising assets last week:
Natural gas (8.11%), tea (8.19%)
Rhodium (13%, up 220% in 2019 for electric vehicles)

Am still waiting for another dump because i missed the last one(but i bought in 4k level) but thats not enough when i can purchase in much low price.

Quote from: tamim101001 on April 05, 2020, 06:59:11 AM

Bye the way,

Actually, I am waiting for $4k. Cheesy

I need to hold some btc. I think if btc reach 4k then it’s my golden time to buy. Wink

it does happen already weeks ago and now since we are nearing 7k level again i believe that there is no 4k happening before and after the Halving.

tamim101001

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Bye the way,

Actually, I am waiting for $4k. Cheesy

I need to hold some btc. I think if btc reach 4k then it’s my golden time to buy. Wink

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Quote from: JL0 on April 02, 2020, 09:43:30 AM

Masterluc's last TA saying that we will go lower. I also feel like you guys too but let's see

Well, actually I don't really care about what people think about prices. I just can't wait to see that their predictions are wrong. however, I was one of those who supported the rise in the price of bitcoin, even when things were still pretty bad.

Botnake

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Quote from: Janation on April 03, 2020, 05:14:51 AM

Quote from: michellee on April 02, 2020, 09:48:33 AM

Well, although it is hard to reach $3,884 again, it could be possible to happen as we know that the crypto market has volatility. If that happens, I guess we need to be ready to buy at that price. But I hope that it won't happen because we already reach the lowest price before, and we hope that the price can increase and break the next high price.

I think future dumps would be inevitable.

There are those people that hold Bitcoin that may forcibly sell in order to buy essentials for their family to use for the weeks of quarantine. This kind of pandemic will be longer than we thought and those people in countries that are majorly affected by this pandemic would be really dumping their Bitcoins for their safety. There is a possibility that it will still dump but let's just keep in our minds that it is a chance and not the time to spread FUD.

I don't think people will dump because they panic and looking for safety, maybe the fool or the weak hands but there are smart investors here, they are willing to take bigger risk and they are gambling with the crypto market.

in fact, Warren Buffett once said that bitcoin is a gambling device, so anyone who invested here are gamblers and can afford to lose their investment.

https://www.cnbc.com/2019/05/04/warren-buffett-says-bitcoin-is-a-gambling-device-with-a-lot-of-frauds-connected-with-it.html

Janation

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Quote from: michellee on April 02, 2020, 09:48:33 AM

Well, although it is hard to reach $3,884 again, it could be possible to happen as we know that the crypto market has volatility. If that happens, I guess we need to be ready to buy at that price. But I hope that it won't happen because we already reach the lowest price before, and we hope that the price can increase and break the next high price.

I think future dumps would be inevitable.

There are those people that hold Bitcoin that may forcibly sell in order to buy essentials for their family to use for the weeks of quarantine. This kind of pandemic will be longer than we thought and those people in countries that are majorly affected by this pandemic would be really dumping their Bitcoins for their safety. There is a possibility that it will still dump but let's just keep in our minds that it is a chance and not the time to spread FUD.

FanEagle

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It is quite obvious that people wanted a piece of the pie because everybody knew that bitcoin price was way more than 4k yet the price went under it so everybody rushed to get more and more. I didn't know 1.3 billion went into it that quickly, I hope not all of them bought because I would like to imagine it takes a lot less amount to get bitcoin over 6k then 1.3 billion however if it really requires that much that means we gonna need a lot more money to actually increase it over 10k as well.

On that note it baffles me that maybe there was more sellers as well? I mean we have seen over 10k just this year in 2020 which tells me if it took 1.3 billion from 4k to 6k, does that mean we spent a lot more than 1.3 billion to go over 10k this year? I doubt that honestly.

Darooghe

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I'm skeptical it will reach 4,000 US dollars as the market seems to violently reject the price when it hits 6,000 US dollars when looking at the small timeframe, still a possibility though, but I won't bet on it. There are many FUD now and many people are pulling their money out for fiat. You can now buy and be perfectly happy knowing you can only go up from here unless it keeps dropping. In that case, buy what you can on a daily or weekly basis and stop when it starts going up on a daily chart.

gentlemand

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Quote from: Japinat on April 02, 2020, 08:07:58 AM

It could happen though as anything is possible in crypto, whales are just looking for the right opportunity, and if it dump then they'll start making money again. That information you've share is pretty amazing, it only tells that there's a lot of money here in crypto and it will not die, and every time it will dump it could easy bounce back with people pumping it every time it will happen.

It's about the magnitude of the dump. Things of that size and violence don't happen time after time. Like I said it could get back to that price out of sheer boredom and gloom but that would be after weeks, not a few hours. I don't think it can manage it in similar circumstances.

It's just the same as a blow off top except in reverse and the tops don't come around very often either.

Quote from: exstasie on April 02, 2020, 09:41:56 AM

Yup, lines up with my thinking at the time:

Nicely called.

smyslov

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So far it is safe at $6700 but there is no guaranty on our current situation, this Covid crisis is wreaking havoc on everything, but with the news that some countries have able to contain it and news of the vaccine, the market has stabilized a little bit, what's going to happen in the next few weeks will have an impact on the market, so we are going to stay tune.

michellee

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Well, although it is hard to reach $3,884 again, it could be possible to happen as we know that the crypto market has volatility. If that happens, I guess we need to be ready to buy at that price. But I hope that it won't happen because we already reach the lowest price before, and we hope that the price can increase and break the next high price.

JL0

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Quote from: Farma on April 02, 2020, 08:43:40 AM

Quote from: Slow death on April 02, 2020, 07:39:10 AM

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000 will get their predictions right

I also feel like that the price will not be further than $ 4000. in addition, at this time the price is slowly growing, and I am pretty sure that the price of bitcoin can reach the price of $ 7000 earlier this month. to be honest, I feel that price recovery will start now.

Masterluc's last TA saying that we will go lower. I also feel like you guys too but let's see

exstasie

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Quote from: gentlemand on April 02, 2020, 05:18:55 AM

This is revealing - https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

"In the 48 hours during and immediately following the drop, we saw record-breaking numbers compared to our last 12-month averages:
5x increase in cash and crypto deposits, totalling $1.3B
2x increase in new-user signups
3x increase in trading users
6x increase in total traded volume
But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility."

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

Yup, lines up with my thinking at the time:

Quote from: exstasie on March 13, 2020, 06:03:15 AM

The prospects for a full on V-bottom look decent. We saw insanely high volume exchanged. Capitulation occurred for sure and shorts piled on massively. We just need bulls to follow through now and trap sellers below $6K.

Based on volume and magnitude, this selloff looks like the January 2015 capitulation. A true old school BTC capitulation. I hope nobody around here managed to sell in the $3,000s. Cheesy

Capitulations like that don't come along but once every few years, like you said. And like any good V-bottom, the market never retested the lows. I honestly don't think we're going to see the $3,000s again.

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Quote from: Slow death on April 02, 2020, 07:39:10 AM

the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000 will get their predictions right

I also feel like that the price will not be further than $ 4000. in addition, at this time the price is slowly growing, and I am pretty sure that the price of bitcoin can reach the price of $ 7000 earlier this month. to be honest, I feel that price recovery will start now.

Japinat

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Quote from: gentlemand on April 02, 2020, 05:18:55 AM

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

It could happen though as anything is possible in crypto, whales are just looking for the right opportunity, and if it dump then they'll start making money again. That information you've share is pretty amazing, it only tells that there's a lot of money here in crypto and it will not die, and every time it will dump it could easy bounce back with people pumping it every time it will happen.

Slow death

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the price will not fall below $4000, just look that it has stabilized above $6000 and it does not seem to me to fall below $6000 at that moment, maybe it is because people have become accustomed to what is happening in the world and then doing analysis for what will be after this great disaster that the world is living. I think we can say that it won't be this time that some people who always want to see the price drop below $3000 will get their predictions right

gentlemand

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This is revealing - https://blog.coinbase.com/on-crypto-markets-and-bitcoins-value-proposition-2fbbca5349dd

"In the 48 hours during and immediately following the drop, we saw record-breaking numbers compared to our last 12-month averages:
5x increase in cash and crypto deposits, totalling $1.3B
2x increase in new-user signups
3x increase in trading users
6x increase in total traded volume
But beyond just a rush, two things are clear: customers of our retail brokerage were buyers during the drop, and Bitcoin was the clear favorite. Our customers typically buy 60% more than they sell but during the crash this jumped to 67%, taking advantage of market troughs and representing strong demand for crypto assets even during extreme volatility."

Those numbers are outrageous and it points to that plunge being a once every few years occurrence. It could of course get back there again after months of boring falls which would be a lot less fun but the prospect of falling through the floor that way again looks remote.

sana54210

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Not for too long, not ever again. People think that hitting a price is a very important issue but the real deal is staying there that hurts everything. For example if we hit 3884 again for a day like we did for a while a week or so ago (more like two weeks ago by now) that didn't meant anything honestly, price shoot right back above 5k, which means that dropping under 4k was for nothing and didn't mean anything. So, what we should be focusing on right now is not actually "not dropping", we can drop, that happens, we can't stop it.

What we should focus on right now is going back up when we drop, as long as we go back up after we drop that will tell people that bitcoin price will go up no matter what and that is how we can survive. If we can manage that, it will eventually stop happening as well.

Best Dreams

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Quote from: Asuspawer09 on March 25, 2020, 10:19:00 AM

Quote from: STT on March 24, 2020, 07:59:03 PM

Hard to call it bearish when its moved so much but I will agree we are in no defined uptrend so expect pullbacks, profit taking and revision of these prices. People will be looking for a top to the price I think and we have a natural level indicated by the largest bar on the chart recently I think:

So this whole area of sub 8000 is up for grabs, its hard to dismiss that level as possible having seen how far BTC surges at times as well as the sharp sell off possible also. I dont doubt it for the meantime, each band is some significance in prior lows and high closing prices.
6000 is the marker for the weekly phase, positive momentum to the price. I'll watch that area before I presume its going to pull back.

Reaching the price of 3884$? what I think possible at this time of crisis and I think at any moment market price of bitcoin could go down at any moment but nothing to worry since the market price of bitcoin is normally volatile the market price could go up and down at any moment. At this moment the market price of bitcoin is already having its resistance at the 7000$ i think the bitcoin is still recovering from the past from that do not normally happen a dump from 9000$- 3000$ could be alarming.

Still, bitcoin already has its demand from the community surely a lot of investors is just waiting for this dump to happened and invested in the 3000+$ price in the market and already waiting for the right time to sell off their bitcoin in the right price may be around 8000$ could already be a great profit.

At this moment no one knows what will happen as the market is quickly changing so after all this what else can we expect? Bitcoin has good demand but only because of crises people are compelled to stay silent and after solving the issue I am pretty sure again bitcoin will get previous value so better take advantage of the time and buy some coins if you ever get the opportunity to buy it lower than 3834$.

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Quote from: Botnake on March 31, 2020, 01:09:07 AM

Quote from: TrevorS on March 30, 2020, 05:11:41 PM

Quote from: sujonali1819 on March 16, 2020, 03:58:51 AM

Price is dumping again and now BTC is trading around 4800$. It’s very possible to hit again below 4000$. If Btc will not recover soon from current price to above of 5000$ we can it will hit again to 3884 even less. I can not understand actually what are happening with markets.😥

Everything is obvious. All markets are in recession, and the cryptocurrency market is with them.

If prices fall, large market makers sell their assets, then they believe that it is more profitable for them than trying to keep the price at a level,
because in the end, in a panic, they will sell bitcoin in the first place turn to save the value of other assets.

Can't agree with that, if crypto is with them, so crypto should drop easily because we are connected with the stocks.

I guess what is happening right now will explain that crypto are not correlated with stocks, we have some good uptrend today, and that's the beauty of crypto as it rises even when there is a global crisis.

Botnake you have a point, crisis is everywhere but crypto-currencies gained few points in the last couple of days. People make connections
between stock-market and crypto-market, I believe that people sell one to buy other, and otherwise, money is flowing from one to other and
that is normal. We all read here buy the bottom, someone need to sell something in order to buy something else.
Bitcoin is holding the level over $6k, can this be a new bottom?

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Quote from: TrevorS on March 30, 2020, 05:11:41 PM

Quote from: sujonali1819 on March 16, 2020, 03:58:51 AM

Price is dumping again and now BTC is trading around 4800$. It’s very possible to hit again below 4000$. If Btc will not recover soon from current price to above of 5000$ we can it will hit again to 3884 even less. I can not understand actually what are happening with markets.😥

Everything is obvious. All markets are in recession, and the cryptocurrency market is with them.

If prices fall, large market makers sell their assets, then they believe that it is more profitable for them than trying to keep the price at a level,
because in the end, in a panic, they will sell bitcoin in the first place turn to save the value of other assets.

Can't agree with that, if crypto is with them, so crypto should drop easily because we are connected with the stocks.

I guess what is happening right now will explain that crypto are not correlated with stocks, we have some good uptrend today, and that's the beauty of crypto as it rises even when there is a global crisis.

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