[ Bitcoin ] Bears still in control. How low can Bitcoin go?
This has been a very bad week for bitcoin. We came down from $9875. We could not break $10k and came down all the way to $7570. Yesterday I was hoping we will go higher, but when $8000 broke it fell fast. Currently it is at $7630.
SBD went down with Bitcoin. We broke $2.00 and currently we are at $1.70. That is R20.00 in South Africa. :( SBD went up to $3.06 this week on coingecko.com. That was on 14 March. So that is a huge fall from $3.06 to $1.70 = 44% fall in one week. :(
Here are the views from The Chart Guys with short term day trader view.
If you want to see a long term technical analysis, watch Haejin Lee below. I find it very interesting. We are close or on the long term trend line so the bottom could be very close now. But Haejin also says that if this long term support breaks decisively we might go down much lower.
Here are the views of Tone Vays. He is negative now that we have broken $8000.
How low do you think can Bitcoin go?
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I like the Haejin Lee video. I trust we are on the low, but if not 7100 is ultimate low then up.
I don't think that TA in crypto market can work. Bitcoin and all altcoins currently react on FUD or Hype. Last days was Google banning crypto adds, before was China or Korea ban... Day by day some advisers are talking about Bitcoin bubble burst... but this will pass and positive hype will come. You can't find in almost any news that we are still UP a lot from March 2017. Believe in technology and don't care about current drop...
That is a very good point @cicbar. We need to keep the faith that the Bitcoin and blockchain tech will be here to stay and is there for the Greater good. Then this drop will be temporary and bitcoin price will rise again.
Agree 👍
Very good comment @cicbar
Thanks 😁
Its sad news... but we have good wishes for bitcoin.
It is not nice to see our Hero to fall like this, but we are in bear trend, but I am very positive that the Bulls will return. When? I hope very soon at $7600, it not at $7100 @john-cena
if we see the history of bitcoin in last 4 year then in each and every year bitcoin go in downtrend in the month of Feb & march because of these two months are end of financial year & all fuds comes this time but at the end of march ww will see uptrend in the market.
I Hoped...
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BTC sure is getting rid of the weak hands. With a scare like this, especially for those new to crypto, it most definitely seems like the sky is falling. But if they decide to stay in crypto, I believe it's a valuable lesson they would've learnt. This correction also seems to be weeding out the weak currencies from the strong currencies, especiallly with all the exchange delistings that have been going on. I mean, with the December/January bull run, there was basically no way to make money. I would say that was not the healthiest bull run, and with this current bear market, I feel like investors are going to take a step back and be more diligent in their research and uncovering projects with VALUE. Thanks for this update.
For future viewers: price of bitcoin at the moment of posting is 7661.10USD
Yeah bitcoin is so cheap.
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if we see the history of bitcoin in last 4 year then in each and every year bitcoin go in downtrend in the month of Feb & march because of these two months are end of financial year & all fuds comes this time but at the end of march ww will see uptrend in the market.