What happens next Bitcoin price action?
Looks like bitcoin is down to around $4000 again.
What is the likely scenario from here?
Will it hold on to the $4000 level and recover back towards the all time high?
Will $4000 support breakdown? Where is the next stop down if this level breaks?
Bitcoin hasnt really lost its value. What has happened is that everyone in china is selling them. China selling them is causing a lot of people to sell them in panic (never invest more than you can afford to lose), and investors are pushing offers to only buy them for the lowest amount. On the other hand, relatively sane persons such as myself wont sell any waiting for the prices to rise, Bitcoin will deffinitively recover its original value, but i cant tell you how much it will take.
This isnt even taking into account the fact that difficulty keeps increasing.
Agree with you there, people panic selling below $5000. Lots who got in earlier were sitting on good profits anyway. Could still go lower I think, perhaps test the mid $3000s before it recovers and reaches another all time high. Bitcoin keeps coming back stronger after each drop.
As usual, we know what to expect. An all time high is on the way. Mark my words.
too many are speculating for prices arround ~ 3.600 - 3.800.
everytime someone buy, someone has to sell - both are thinking they doing a good trade.
-> Are there as much, thinking: SELL lower < 4.000 is a good deal as wanna BUY there -i dont think so
4.000 is good -f.b
That may be the case, many sellers dumped below $5000 though, panic selling perhaps. You could also argue though if it breaches $4000 more people will panic sell below $4000. It's all psychological, markets do not behave rationally.