Will Bitcoin Ever Fall Below $3,000 Again?
Shortly after the Bitcoin fork the price has skyrocketed to a new high that is just $50 away from $3,500, but will it go back down again? Will we see Bitcoin prices below $3,000 ever again?
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Back on July 16th we saw Bitcoin dip below $2,000 briefly until it shot up to around $2,700 before the fork.
The dip under $2,000 was short lived, but that may be the last time we see Bitcoin below the 2K mark. It is hard to believe that with the success of the hard fork and the energy and excitement in the thriving crypto market that Bitcoin will lose almost half of it's value to dip that low again.
Right now Bitcoin is on a solid march up, much like what happened in May and June.
After this cycle though, we could see Bitcoin reach as high as $3,700 before there is a sell off and it dips back down again.
Sell offs happen and it is part of a normal market cycle, but unless something major happens it isn't very likely that Bitcoin will fall below $2,000. For the people that didn't get in yet, there is still a pretty good chance that Bitcoin will fall back under $3,000 in the relatively near future. It could happen in a couple of weeks or a month, but it will go down before it shoots back up gain.
My guess is it will dip below $3,000 like it dipped below $2,000 on July 16th. It will be brief, but a great chance to get back into Bitcoin before it's next push.
I am not a financial advisor and I have been in crypto for several months, so take my advice for what it is worth. I am interested in hearing your thoughts too!
At the end of the day, predicting the short-term of crypto markets is harder than trying to land a super model with the body and face of a humpback whale, but at least we all can agree it is going up in the long run. lol
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Nortel was $100 per share in 2000. It was so excellent, everyone KNEW FOR SURE that meant the share price would never go below $50 ever again.
If you look up the current price of Nortel what do you get?
Cisco lost more than 80% of it market cap in dot com bust.
Amazon lost more than 90% of its market cap in dot com bust.
NASDAQ lost more than 60% of its market cap in dot com bust.
Simple answer - of course BTC can go below $2000 again. In fact it could end up going to $0.
I'm not saying that that is guaranteed or even probable.
Just reporting that a question - could BTC ever lose 30% of current market cap isn't that well informed even just looking back less than a generation to previous examples.
Those that don't learn from history are doomed to repeat it.
No need to hate on me with replies. I'll also report that BTC could go to $10K and you could triple your money.
But that also isn't guaranteed.
STEEM On!!
DaveB
Hate on you with replies... never. I value other opinions. It is how we grow. I really appreciate you taking the time to reply. Thank you.
I agree with you, it could go to 0. It is likely to fall below 2K and according to history, it could also go much lower for sure. I agree 100%.
The one thing that bitcoin has going for it, is it's limited supply. As more and more coins are created and used, more people may look to bitcoin as an investment and just hold. The supply will drop and drop and at some point, could be very valuable. I feel that we are marching towards that moment and the market is on the move up for a while. The last fork showed the staying power and I feel it will get up much higher. We'll see though and you are more than right with your assessment.
That is also the reason I added this at the end... "t the end of the day, predicting the short-term of crypto markets is harder than trying to land a super model with the body and face of a humpback whale"
Thanks for your input and the support on my posts.
The question is now, will BTC ever fall below $3K again? It's a real good question. Chances are it might never happen..
Do you remember when in 2015, people still thought that bitcoins were worthless?
Even with the current developments, I think we're only seeing the beginning. What an exciting time to be alive and have front seats at the show!
You nailed it... it is an exciting time to be alive. Great clip, lol. I can't help but be excited for the future of crypto, even with my small investment. lol
I agree with you I do think it will go back down for an opportunity to buy more then it will rise again! I have the same thoughts as you go bitcoin go!
Thanks for reading! I agree.. GO BITCOIN GO
sort of like life up and down.. I think it may go down and level out then up again..that is what it seems to do.
It is what it seems to do. I hope you are doing well. Thanks for reading.
Yes. Agreed.. I can see it taking a major dip somewhere along the line. Especially if there is more fork drama. I can easily see it back at 2700-2800. Then y'all better get in!
Yeah I agree. I don't see it going down below 2K again, but 3 yes. I can't wait to buy!!!
It definitely seems like the best time to get into the crypto train. Nice post