Bitcoin Dropping to $6K ‘Golden Pocket’ Isn’t Bearish, Says Trader

[SRShanuka2020]

Bitcoin Dropping to $6K ‘Golden Pocket’ Isn’t Bearish, Says Trader

Bitcoin (BTC) could crash to $6,000 and still remain bullish, one trader claimed on June 26 as the largest cryptocurrency tested $9,000 support.

In a Twitter analysis, the popular trader known as SteveCrypt0 offered an alternative to the bearish sentiment coming from markets this week.

Trader: $6K is “healthy correction”
With BTC/USD circling $9,200, analysts are broadly risk-off. Broad correlation with ailing stock markets has sparked multiple warnings that a failure to keep support at current levels could spell a fresh downturn.

For SteveCrypt0, however, even a worst-case scenario would not necessarily spell the end of the Bitcoin bull case.

BTC/USD could hit $6,300 or even lower, he argued, and still retain its overall uptrend. The reason, he said, lies in the fact that a Fibonacci retracement level lies at $6,340.

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[Cryptoz]

In my opinion, it is really bad news if the market correction is turning into $6k, I cannot believe it because it down too much as I think. In my opinion, it must be only around $8k or more. Hopefully, they only want to make us panic and sell our BTC, not for the exact prediction

[vegasus]

What? It will drop to $6K? I think it won't happen, how bad if the Bitcoin decline to $6K. Then, many investors may leave Bitcoin. I still believe that Bitcoin to continue improving this year. I am sure that all Bitcoin holders will pump the Bitcoin price if it is likely to drop to $6K. There are too many Bitcoin holders to get losses if it drops to $6K.

[Rakin343]

Very sad news, but we don't fear about it because ups and down a common phenomena in cryptocurrency market.

[jonathancool220]

If you don't say "Bearish" then what do you call it?
We know that the price fell sharply, said Bearish and this is definitely a lot of losses because the price dropped and people were disappointed with "Bearish".

Maybe for those who have a lot of USDT then this is not "Bearish" because it is definitely a gift to get lots of Bitcoin in its wallet, right?

[Paglamon]

If this news is true, then I will be poor. I have invested a lot so this news is not a source of happiness for me. I am terrified after seeing this post. In the future I may read about the problem with investing in bitcoin. What do I do with the investments right now? I don't have that freedom of thought. Because I am investing for a long time. My situation will be very bad if the price of bitcoin is 6k. I can't accept the 6k price.

[Hometown]

If this news is true, then I will be poor. I have invested a lot so this news is not a source of happiness for me. I am terrified after seeing this post. In the future I may read about the problem with investing in bitcoin. What do I do with the investments right now? I don't have that freedom of thought. Because I am investing for a long time. My situation will be very bad if the price of bitcoin is 6k. I can't accept the 6k price.

You don't never poor because if you have investable bitcoin and will keep it long term periods, then it must be recovered. Don't worry about dropping.

[babu10]

I don't believe on it as in crisis moment market goes near 10k$. I think this might be false news and sometimes false news come to market to down market that we saw many times. Please don't give such kind of news so that new investors and traders will out from market and that impact will hit the us.

thanks.

[comer]

The trend is upward so I don't think it will drop to $6k in the coming days at least. BTC is stagnant at the price above $9k if it drops it only fall a little then it will come back again to $9k level. The next resistance will be at $10k once it breaks BTC will surge high. Let's see what will happen on this second half of the year, maybe it will be a bull market that will benifited all the traders and holders of crypto currency.

[Prime]

It will make many people panic if the price of BTC will hit again at $6k. Therefore, if there is no scientific analysis by the expert, personally I will not believe about it So just follow the market flow so far to make the price again.

[trauchot]

I don’t think that manipulators will want to lower Bitcoin to 6k$, now it’s clear that manipulators are trying to make Bitcoin stay at 9k$ and therefore no pump and dump are expected in the near future.

[carcas]

For now Bitcoin is more stable at $ 9,000 - $ 9300. and haven't been able to survive above $ 10,000. Do you think bitcoin will return under $ 9,000?  If I look at the market cap it's likely that the price of bitcoin will come back down

[vegasus]

For now Bitcoin is more stable at $ 9,000 - $ 9300. and haven't been able to survive above $ 10,000.

Yeah, the price of Bitcoin is a bit stable and I think it is not a good sign for all the holders. We all expect to see the price above $10,000. I think it can happen but at the end of this year. Yep, it is what most experts or my friends predicted. The current condition seem not support to higher price again.

[Nostoman]

The price of bitcoin will be limited to $9000. If you look at the maket cap, you can see that the price of bitcoin was stable at $9000. But I think this price will survive. Now there is no sign or reason for the price to rise. I have been able to accept this price in the current situation. I want the price of bitcoin to be stable between $9000 to $9500.

[IyemRoker]

We can judge if Bitcoin becomes a Bearish when it loses the price of around 50% and this is according to my assessment.

For example the price of Bitcoin I bought at the price of 7000 USD and fell to the price of 6000 USD then it is not Bearish because it only fell by around 10%.
But I bought Bitcoin at 12,000 USD and went down to 6,000 USD, so in my opinion it's called "Bearish".