How far will Bitcoin drop? Will Bitcoin Hit $8,000? Should you buy up Bitcoin CryptoCurrency?! BTC Bitcoin
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I could see Bitcoin reaching the $6000 mark before a meaningful pullback. Another note to take is that price usually moves much faster on a downtrend. Bull markets are usually two or three times as slow (this is when looking at the total market cap). So don't expect a very rapid recovery. Saying that, these markets could do anything :p
definitely agree with your statement on bull market speed. as fast as it goes up, we could lose it just as fast. slow and steady gains are stronger and will remain firm in the long haul
I agree with the $6000 valuation. I had the seem thought. I think we will see a strong recovery. I know a lot of newer investors are only experiencing these kinds of pullbacks for the first time. In my opinion, I think they will settle down and stop panic selling everytime a market correction occurs. But like you said, this market can do anything!
Not sure it will fall all the way to the 6k mark but you never know. I imagine as he said, a lot of whales will be hovering, just waiting for the price to show its soft belly, to pounce. Not just whales though but certain cryptocoin news anchors too.
While watching this I didn't think it could actually go under $8,000. Boy, was I wrong! This morning it went to around $7,600, crazy! I only wish I was up, but I expect it to reach lows like this again, as you stated, there's a lot going on to cause it to only drop more in price. Excited to keep an eye out on it.
I saw 7410.00 All I could think was buy buy buy.
It can get crazy as the market establishes a bottom
definitely got some BTC on the dip
Not a bad move! best price to buy at in last few month. I looked to get more alts off the market dip
yepp my thoughts exactly. I've been waiting for this dip since it hit 10k the first time. got a nice position in AST last night as well
I have been looking at this to get to this point since November. I don't think a lot of people realized that the market couldn't continue at the speed it was. This correction was well needed. Peoples should be excited, not scared!
You can see the moment a load of orders were activated around the 7700 mark
I think it could go as low as 6000, I still see a huge increase this year. But I also think we will see the market start to shape a traditional market in some ways. If I had the spare cash I would be doubling down on certain cryptos, To name a few.... XRP, NEO, STEEM, OMG, VEN, GNT, and ARK
I will be increasing my protofilo on my favorite coins as well. Currently have XRP, STEEM, and ARK myself. Always HOLD and buy on the dips! We must never show weak hands and sell at a lost.
Thanks for this valuable info.
I would say Bitcoin will soon reach $6,000 or $5,000 being it's basement point. January has been just bad news one after another. From the news of South Korea possibly banning crytpocurrency trading, the scam with Bitconnect and now possibly Tether. The market is also currently going down due to the SEC and the CFTC meeting on February 6 to discuss the future of cryptocurrency.
https://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/
https://cointelegraph.com/news/us-sec-cftc-to-focus-100-on-crypto-in-dedicated-hearing-next-week
Hopefully after the lunar new year on February 16 will see the market start growing again.
Prob dip below 8000.00 for a liile while.
I mean, a lot of people were saying 12 then 11 then 10. I don't think anyone really knows the floor. all we can do is ride the roller coaster.
Have you heard of the trading strategy of trend following? Don't try and predict price just go with the trend. If it is a bull market buy and hold until the trend reverses and if a bear market short it and stay with the downtrend. Another way people need to look at this is to just invest in what they believe in and then hold the investment and come back to it in a year or so.
Exactly.
What a buying opportunity right now!!
it is kinda confusing now do I buy at 8k or wait till it hit 7k
Its a stressful time for the fact that everything is at such a good offer, FOMO is kicking in hard!
It really is.
I'm not wanting to check prices in fear they have risen!
HAHA! most people are the opposite.
Need to get those good deals!
But when there’s blood on the streets!
Great info, thanks! I missed the 7500 dip as I was eating lunch...then saw an instant almost 20% gain! Bought some at 9k so am happy at that...lets see what next week brings I personally dont see a low below 7500 ...but who knows??
I missed the Neo dip because of my lunch. Food wins again.
The market is going to keep bleeding, because Bitcoin and other alt coins have no use value. But not to worry, as soon as the Chinese New Year is over, the price of Bitcoin will stabilize and increase due to speculation.
Friday, February 16 (Chinese New Year end date)
I'm looking for $4000, 100% retracement of the run to $20k.
if that happened I would have to put everything into it
It did drop. Does anyone else think with the SEC, CFTC having a dedicated meeting 100% on crypto Tuesday Feb 6th, the FUD will continue and we can see Bitcoin drop just below 5k? Thoughts?