The Bitcoin Crash is NOT Over!

in cryptocurrency •  9 months ago

The big question on everyone's mind: Has Bitcoin hit rock bottom or can it go even lower?

I have seen plenty of commentary that the worst is not over. That we'd rally temporarily through the weekend, but we're going for 100% Fibonacci retracement to early November levels. If that's to be believed, we're heading for $5651.80.

You read that right: You will soon be able to buy Bitcoin for $5500 USD and change.

Are you ready?
Are you shorting?
Are you sitting on cash waiting for $5k levels?

I'm calling it at $6800 and change.

What is your best guess as to where Bitcoin will truly bottom? Write your prediction in the comments below.

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there's no way to predict it that precise, it can start rising at any point.

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That is true, of course. I'm just curious what others think the bottom might be.

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I have to be hopeful but to be honest, bitcoin is in serious trouble, it might go to a dollar or less if the old money doesn't stop messing with the price

I think it will touch again the 8000$ price point because of low volume

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I'm good either way! Goes down, buy more, goes up, we travel safely.

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So is $8000 the bottom for your call?

Great post! but, are you serious? I could imagine 7500$, but 6800$ seems painful.

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Hey @rhlll, I agree with 7500! I really hope dips are completely gone, as media managed to chain all FUD they had. They are out of ammo!

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Is it's all gone, I ate it all! (Sorry, I couldn't resist making the joke)

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HAHA! Good one :)
We had plenty of dips, I'm not really in mood for more :D

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Are we dipping icecream in hot fudge or talking cryptos? :-D

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This long bear market as affected me in so many ways, I prefer to laugh at it.

I don't see it below 7400. I'll just HODL what I have. If it really goes that low, i'll add more fiat, and travel to the moon :D

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I wish I had more fiat!

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Just think of it like a slingshot...the lower it goes, the more force Bitcoin will rebound with.

The further down it goes, the more I buy. I think anything below the 5k mark is a sign something isn't right. I still expect the flippening to happen in the next 3 months.

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The dip might attract some new buyers, but the flippening sounds scary.

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Are you talking about flippening to Bitcoin Cash or to Ethereum? Or another of the wilder speculations I've seen out there like Ripple and Litecoin?

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Ethereum, not a fan of Bitcoin Cash. Bitcoin is great as digital gold but if its only use is a store of wealth and possible payment system it's usefulness is dwarfed by Ethereum's. Plus if Neo and Trinity grow over the next few years I can see "The Flippening, Part II"

I buy som cryptos in each dipp, in a year we know if it was good call or not

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Same for me. I bought at $9800 earlier thinking that was the bottom, then again at $8900. If it truly does drop to $7k ranges, I just might be liquidating stocks to buy as much as I can.

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Maybe we found the truly bottom now at 6800 ish?

I really can’t see the 5k range hitting this go round and that’s because there’s way too much big money in play with Wall Street now joining and futures. If #bitcoin hits that low it’s time to switch currency because it’s going all the way to zero. That would literally mean the entire rally was reversed. That’s November pricing as can been on the graph at my post about

https://steemit.com/cryptocurrency/@rockmandown/the-sky-is-falling-or-at-least-cryptocurrency-is

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Things will definitely get interesting if we hit $5k, that's for sure, but I seriously doubt we'll see BTC hit $0 any time soon. Even if a viable candidate came along to unseat Bitcoin as King, there is simply too much money and history in Bitcoin....or maybe I should say, too much sentimentalism and fandom behind it to let it fall the way of the DOGE.

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Interesting you say how you doubt it will ever disappear when I compare them to the HDDVD vs BluRay wars. HD was actually released prior to BluRay yet now the war is over and the younger of the platforms prevailed.

I see #bitcoin as HDDVD and #ethereum as BluRay. Could go either way.

Another way to look at it is #btc is #gold and #eth is #silver (coins/ounce) - Gold is too expensive is more like something to just look at with awe whereas silver although up there in price has many uses for it therefore making it more valuable in the real world.

Hodling my tiny portfolio because I'm too lazy to manage it.

Personally I'm hoping this stuff goes on sale. At $5000 I may have to overcome my fear of putting actual dollars (instead of Steem) into it and invest some fiat.

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At $5k, it would almost definitely be worth it! Even if Bitcoin only rose to a mere $10k, you'd double your money. I think therein lies one of the fundamental reasons why Bitcoin is not likely to go to $0.