Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: ZionRTZ on December 15, 2018, 12:53:11 PM
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The Bitcoin price has performed relatively well in comparison to other major crypto assets and small market cap tokens in the past seven days.
But, the lack of volume in most Bitcoin markets has put the dominant cryptocurrency at risk of dipping below key support levels below the $3,000 mark.
DonAlt, a cryptocurrency trader and technical analyst, wrote:
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”
This from the article: https://www.ccn.com/crypto-market-risks-dip-below-100-billion-after-dropping-15-billion-in-bad-week/
Crypto Market Risks Dip Below $100 Billion After Dropping $15 Billion in Bad Week
(https://i.imgur.com/syGQzpH.jpg)
In the past seven days, the valuation of the crypto market has dropped from $117 billion to $102 billion, by just over $15 billion.
Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) performed poorly against the U.S. dollar, experiencing losses above the 10 percent mark.
Out of the three most valuable crypto assets in the space, the Ethereum price suffered the worst drop as ETH declined by more than 13 percent from $98 to $84.
Bitcoin at Risk of Dropping to $2,700?
The Bitcoin price has performed relatively well in comparison to other major crypto assets and small market cap tokens in the past seven days.
(https://i.imgur.com/USQCDST.png)
But, the lack of volume in most Bitcoin markets has put the dominant cryptocurrency at risk of dipping below key support levels below the $3,000 mark.
DonAlt, a cryptocurrency trader and technical analyst, wrote:
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”
The analyst added that while a drop below $3,000 is always a possibility, shorting the asset can be highly risky in a period of uncertainty and extreme volatility.
“If you exclude the wick that ended the last bear market, we’re already there. Excluding it might be reasonable because even though this drop is very similar, the market is more liquid & sophisticated than back then. Not the place to add new shorts, in my opinion,” he added.
Major markets like South Korea and Japan have also started to demonstrate a noticeable decline in volume and overall demand for the asset class.
According to CryptoCompare, a crypto market data provider, Japan and South Korea, which consistently ranked above the U.S. throughout the 2017 bull market, only account for around five percent of global Bitcoin volume.
In contrast, the U.S. now accounts for 17.6 percent of international Bitcoin volume, excluding the volume of Tether (USDT).
Bad State
For the first time since Aug 2017, the crypto market is set to drop below the $100 billion mark, mostly fueled by the underwhelming performance of low volume cryptocurrencies.
A handful of tokens in the likes of ICON (ICX), VeChain (VET), and Zcash (ZEC) have seen a 95 percent to 99 percent decline from their all-time highs. At its peak, ICX was valued at $44 billion. As of December, the market cap of ICX remains below the $100 million mark.
If cryptocurrencies remain in a bear market throughout the first several months of 2019, tokens and low liquidity tokens will continue to drop in value against both the U.S. dollar and Bitcoin.
As of current, there exists significant risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, and many investors are observing the short-term trend of the crypto market by holding out on trades.
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I think we'll almost definitely see it depreciate below $3,000. How much lower it will fall? Time will tell.
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yes we are just waiting for how sharply bitcoin will go down, and go back up again, just wait for the date of the game, as players and spectators, just be quiet and stay patien
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I am feeling that bitcoin price may even dropped to $2000 before a bull run which I am assuming to happen sometimes next year in 2019.
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With the decreasing demand or volume, we can expect Bitcoin to really drop to $2,700 or even lower.
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bitcoins volume is decreasing and market cap also.it seems we are not bottom yet.i hope bitcoin will not go down to 2700.
bitcoin rebound in january i think.
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I my oppinon its possible the price of bitcoin drop more down to 2700 $ its to much fud and bad news about the cryptocurrency market righ now,even the sec delay again to make a decision for february 2019
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This is very bad news for bitcoin holders. Actually I am surprised with this news that Bitcoin potentially drops to $2,700 or even lower. To be honest, I think the bottom price is about $3,000 but according the information above I should agree that it is very possible to go down even lower. :'(
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There's a big possibility that bitcoin drops to $2700 or even drops because until now the market did not response well and a lot of people already losing too much.
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Now, It mustn't drop below $3,000. The current price is about $3,919 and it looks like to go up again. I think the market has tried to recover gradually. So, we can see the price of improving in the near future.
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It is rising again approaching $4k.
I think it will not drop below $3500 but will increase slowly and make bitcoin value more expensive.
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I think that this price of $2,700 is quite real and good for buying, but in recent days the price drop has stopped and the price of Bitcoin keeps at around $3,900. Maybe you need more time to reach the price below $3,000, especially since I know that many investors are waiting for the price to go down to $2500- $2600 so that you can buy Bitcoin.
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Although many people say that the price of Bitcoin can drop to $2,000, I think this is unlikely. But if the price drops to this mark, then I will definitely take a moment and buy a certain amount of Bitcoin or other coins, because this is a good price.
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Now the price of Bitcoin is $3,943. It almost reaches $4,000. I think it won't drop again with a high amount. So, I am confident it will survive above $3,500. $2,700 is very far away from the current price.
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In as much as I would love to see bitcoin fall below this price, I don't think that could ever happen. The market is really tough to give an sought of prediction but I won't be surprised to see bitcoin fall below this price.
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You're right that Bitcoin is the worthiest cryptocurrency and most trusted one among the others. The limited amount or total supply of the BTC is good because it is one of the factors that can make this coin bullrun someday. But, if the volume is limited, it seems that the cycle of this coin on the market is dropping.
Can it drive into under $3k? I don't think so and hopefully not so. This time, the price hits $3,878.52 and I hope that it will be higher again.
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I think even though the price of bitcoin has decreased, but I still strongly believe that bitcoin will experience price increases again in the future, and we know the history of the world of crypto and bitcoin that has happened in 2017.
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Bitcoin will not drop $ 2,700. Now Bitcoin's value is running at $ 3970, further going forward will increase further and the bull run will be accelerated in the market.
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Yes, but the risk that the price will go below $3000 remains. But in general, it looks like the price has been steadily staying within $3400-$4200 for a long time, and this may indicate that the crypto market has reached the bottom, the bearish trend has lost its strength and the bullish trend is about to begin.
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When it drops to the price of 2700, I will buy it for 3 Bitcoin.
I have prepared nFIAT and Buy BAck at the price of 2500 USD, but if it really does go down to the price of 2700 USD then I immediately Buy Ask.
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No no chance, bitcoin price is again pumping. Today bitcoin price is up to $4000. I am sure that bitcoin and Ethereum price is starting to upgrade.
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Hopefully it will not happen and the price can stabilize in the area of $ 3500- $ 4000 for now. And then will move up to the $ 5000 area up this year.
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After seeing the crypto market today. I see the BTC price going up above $ 4000 and it is likely that the price will rise again if you see a lot of info about Bitcoin Halving Day, market conditions do look stable but there is an increase in BTC prices which I can hope the price will not drop.
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i think bitcoin have a slight recovery and it can reah over 4500$, if everything will be advancetage at this time i think bitcoin will flight away, and the price of 2700$ so hard to bitcoin can move down
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In recent days bitcoin tends to rise. I am amazed at you who say the price of bitcoin is down. Which data is the basis of your speech. Do you belong to the people who hate the bitcoin ??? Or which time of your time is this.
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It is unlikely that we will see such a low price level of Bitcoin. I believe that if he falls, then the maximum to $ 3000, no less
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n these realities, such a large drop is impossible in the near future, so we should hope for an increase,because prices are rising at a small rate for more than a year
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When the price of Bitcoin is going down quickly, what I think is that crypto is really heading to end. However now, we can see how the market of crypto is trying to recover with slow progress. It is better, moreover, BTC price right now hits around $4k.
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I am really upset about the cryptocurrency market. I think that 2700 is still on the table. 2700 is enough value for the market reversal. However, if it does not hold 1300 is possible. If 2700 does not hold the bear market can last more than 1 year more.
Hope not.
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I was hoping the rally above $4,000 would continue but clearly that was not the case. $2,700 as a target remains valid, I think.
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And in fact bitcoin is no lower than you say and it proves that there are still many people who believe in the potential of the future of bitcoin and they are trying to raise the price of bitcoin again.
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I do not want to believe that in the near future bitcoin will fall so low, because it is so very much lost in price,but now prices are beginning to normalize
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This year the cryptomarket is falling again because this year the bitcoin price declined again and currently bitcoin is slowly recovering although there is no good signal to big pump so this year once again bitcoin price may down again but it not decline below $3200.
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Bitcoin price has improved to above $4,000. The improvement looks like quite strong even if the amount of the rise is not significant. I think the prediction to decline to $2,700 won't happen. If there is a decline, I think it won't drop below $3,900.