Bitcoin Is Hitting A Critical Point - Will The Downtrend Continue?

in bitcoin •  8 months ago

A Critical Point In The Next 24-72 hours

Since spiking to $20,000 in December bitcoin has been gradually declining at a pretty consistent rate. Since that high, the low point has been right around the $5,900 mark. On February 6th there was a massive dump and it started right around where bitcoins current price is.

What Is Going To Happen?

I am by no means an expert but I will give my uneducated opinion. Personally I believe that despite recent good news, the down trend will continue. Why? Because at this current time I see no reason for the trend to not continue unless the same people that are supressing the price are ready to give it massive support and the previous low. But I have no reason to suspect that at this time. I believe the short will continue for a couple weeks yet. I would love to see some upside and I would really enjoy listening to the mainstream news when it goes for the next big rally. It will be very amusing. Either way, I am ready.

What are your thoughts? What news do you think is affecting this currently? Thanks for reading!

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Hi skyefox,

I agree that the BTC price will continue down thru this weekend then, the next Monday the price will be go up more when Asians pump up or buy more.
I am waiting for it get down to $6.5k so I could by more....

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yeah a possible bottom we all hope for volatility

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It could go on like this for like 6 months - up and down around the same support levels... Theres alot happening with all the bans on social media of ICO advertising which is making people skeptical (I actually think these bans are a good thing).

No one really knows but its been a longish dip now and would be nice for it to end soon!

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