What's the bottom for BTC before we see a bounce? Like, where do you all think we might end up?
Crazy Times for BTC: What's Next?
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$24k sounds nice... I mean, I love gold, right?
stake_2017Newbie
Posts: 182 · Reputation: 12
#3Feb 5, 2019, 06:49 PM
Wow, someone is really bearish here. $24k? Nah, inflation's too real for that. I'd double it to $48k myself.
Based on past bear market patterns, I’m thinking around $55k. But hey, it’s all just speculation.
Used to think $50k was the floor, but with how fast it’s dropping today, I wouldn’t be surprised if it went below that. $20k is a stretch though. I say maybe $45k, but as long as it’s not stuck there, we’ll be okay.
SilentOrbitSenior Member
Posts: 97 · Reputation: 1264
#6Feb 6, 2019, 02:00 AM
Why would anyone be shocked? You really thought BTC would just keep climbing? There’s no solid ecosystem backing it; it’s all speculation. It’s been unstable forever.
What if we see $19k again, like in 2018? Haha. Honestly, just DCA at this point and don’t stress too much about timing. With liquidity drying up, anything’s possible.
$24k is way too low. That's close to the last low of $16k before it shot up to $120k. The buy wall won’t let it drop that far. I’d say worst case is $50k or maybe $40k.
Bitcoin is maturing and its volatility is lessening. Last bear market saw a drop from $69k to $16k, a 76% decrease. I doubt it’ll fall more than 70% this time, so we might see a bottom around $40-50k.
SwiftWhaleSenior Member
Posts: 21 · Reputation: 885
#10Feb 7, 2019, 10:19 PM
Given the current market, it seems like we could see more drops soon. Market hit $60k but now it’s looking shaky. If things stabilize, we might hit $70k. But who knows, could also settle around $35-45k.
Bounce already? Maybe we hit $69k to liquidate positions before another drop. Market’s unpredictable, so it could go either way. If tensions rise, we’re in for a rough ride.
I see history repeating itself. BTC will keep falling, regardless of outside factors. It’s too early to say where the bottom is, but bear markets usually last until year-end.
wallet2017Member
Posts: 111 · Reputation: 63
#13Feb 8, 2019, 11:37 AM
Been avoiding BTC updates, thought it’d rebound. Seeing it drop continues to hurt. At $64k now, I wonder if there’s a miracle coming. What’s stopping it from hitting $50k? Feels painful.
AtomicForkFull Member
Posts: 352 · Reputation: 479
#14Feb 8, 2019, 05:25 PM
Yeah, this drop is disappointing. But what’s worse is if it drops significantly without hitting previous cycle highs. If we touch $40k or lower, that’d really be shocking.
Hoping the bottom’s higher this time. No major events driving a massive sell-off, and I think people are holding long-term. I’m holding Bitcoin for the long haul, thinking $43k is a solid floor.
True, Bitcoin’s maturing but it’s still down almost 50% from its peak. If it hits $43k, that’s a significant drop. We're not even close to doubling from the last peak.
Looking at last week's price movements, I’m done checking BTC updates unless something major happens. This decline has been real, and it’s disheartening to see it drop nearly 50%.
kevinorbitMember
Posts: 20 · Reputation: 243
#18Feb 11, 2019, 12:38 AM
Have you ever been through a bear market? They happen. It’s part of the cycle. Don’t just avoid it; plan for it. A bear market can be an opportunity.
When BTC dumps like this, speculation runs wild. $20k is exaggerated; it’d take a massive event for that to happen. I thought it wouldn’t drop below $50k, and here we are.
I was looking at $60k because it hit that mark and bounced to $65k. Now it’s at $69k. Is this a bear market already? I thought we’d see a little bull run before it hit.