Bitcoin Prices falls below $6000, bounced back to $6870
The price of Bitcoin further fell down to $5996 but bounced back quickly to above $6900, currently trading around $6700 levels.
The decline continuous as negative news on Bitcoin and altcoins in the past few weeks that have increased worries about the regulations. Yesterday China announced ban of complete cryptocurrency trading.
It seems more negative news to be followed and further down side to Bitcoin and altcoins.
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Stay calm. This has been done before. Keep in mind that the Mt. Gox days was simular. It might go down to $2,000/Bitcoin but any buys that are lower than $10K is a good buy in the long term. It will bounce back up and beyond. Just buy and hold.
Keep in mind that the Dot Com was much bigger than Cryptos. If Cryptos are going to take over the world. We have a long way to go.
Here is a chart comparision of the Dot Com bubble in 2000 and the current Crypto market.
https://www.reddit.com/r/CryptoCurrency/comments/7irww4/bitcoin_bubble_vs_dotcom_bubble_market_cap/
Ya saya rasa begitu. Sudah hampir satu pekan ini penurunan begitu drastis dan terus berlanjut. Akan sangat khawatir untuk ikan kecil dan pemula seperti saya. Saya berharap penurunan ini segera berhenti dan naik melambung di hari berikutnya.
This post has received gratitude of 1.47 % from @appreciator thanks to: @onlineprds.
This is very confusing right now.
The bitcoin was at 8100$. Now dropped to 6000$. And back to 6800$. B
I am very confused about investing in bitcoin .
Thx for the information btw.
And buddy stay blessed.
Also suggest me what should i do
Yes totally confused. Better this is not the good time to buy any coins, please stay away. Let the things cool down.
Lot of negative news from banks and other financial experts every day. Really very bad time for the investors. If you want to invest, just wait and watch, please avoid right now.
What is the 60 in your name. I am new to steemit
It is reputation points. You have (26) points, that will increase when you post contents. All the best @junaidiqbal.
Can u give me some dollars
According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
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Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.