I think it’s safe to assume that most of us who are interested in BTC are also looking for dips to add to our bag. I’m just wondering, at what price will you stop buying BTC? At what level do you think BTC will no longer recover and will go bust?
Very good question.
I suppose anything below $8500/BTC is a good price.
Between $5000 and $8500 is even better and if you can grab it below $5000 it would be a great opportunity.
My personal opinion is that Bitcoin is here to stay, at least for the next few years. The risk being that a technological superior token might render Bitcoin obsolete. Although there are already many cryptos with a lot more advanced capabilities, and so far, Bitcoin is still around strong as ever.
During the 2018 crypto crash, Bitcoin went below $3500 (I can not recall the exact number) and there was a concern that BTC would disappear as it was no longer worth mining. Despite this concern, the majority of miners kept working at it. I guess this tells us that there is not really a minimum price beyond which Bitcoin is no longer valuable, but rather if you can get it for an even lower price, all the better for you…It should raise afterwards, at some point. At least, it has always recovered, so far…
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For what it’s worth (and bearing in mind I wouldn’t touch this with YOUR money):
The analysts at Bloomberg are punting support and buying opportunities at around $7 000 (this as after yesterday afternoon NY time). Then again: last week they were banging on about $8 000 or thereabouts being support. Also saying that the 50-day SMA is support (I’ve not checked that but maybe something for you lot to check).
On the one hand: I’ve learned the hard way over the years to take this type of stuff with a pinch of salt. On the other hand: a lot of the time this stuff becomes a self fulfilling prophecy (prime example right now is the GBP i.e. at this present time I think everybody is actually talking it down regardless of what fundamentals and technicals may say at any given point) (I’m sure you get the idea anyway).
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I don’t trade BTC but my cursory analysis tells me that it will hit a major support area at $7,500. If it drops below that then it might get trapped as that support turns to resistance.
It seems like the transaction costs are rising rapidly also and that means that BTC traders will need more headroom to profit from trading it. I notice that price movements are compressing which means that you will need optimal entries and exits with higher risk profiles.
I believe that they intend to crash BTC. I give it perhaps another year to two years. It might even go back down to sub $300 levels. I sincerely hope I’m wrong about that but as it stands, I wouldn’t go near it with a bargepole. But, that’s me. Sorry, I don’t mean to rain on your parade.
I would be very surprised if Bitcoin went down in the next two years. If that happens, the whole crypto market would disappear, and despite the flood of new laws that we can expect very soon to reshape the crypto market landscape the crypto market is here to stay. Still a baby but it will grow and mature over time.
There have been actually a lot of developments around Bitcoin that solidify it as the main crypto asset and reserve of value.
But well, this is the wild wild west and we can never be 100% sure. I guess we will revisit this talk in 2 years time.
Any price below $360K 
I’m interested to see if any of the following has bearing on price movement today and the rest of the week.
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Fed rate cute announcement
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End of the month bitcoin futures action
BTC is right around $10K. If we break that, could we be on our way up to $11K? BTC hit $11200 I think a little over a week and a half ago.
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I wouldn t mind a BTC $300 k price jump 
I am sure bitcoin will resume its price bullish trend at some point. The real question being WHEN, exactly?
Very interesting to check if there is a correlation between Fed rate cuts, bitcoin future action and actual Bitcoin price. Very good call.
Logic says it should, but the crypto world is not a logical world most of the times, rather a “magical” one
I have already stopped buying it long time ago, in fact I never bought it and I really do sorry about that way too much, if I only did it when it was something like for example $10 or so, could you imagine where all that will be now ? Do let me know please.
Imagine you bought it when it was worth a few cents and you could mine one bitcoin a day on your own PC?
The good old times…
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Currently sitting a $11900. That’s over 25% over the last week. A pullback seems imminent.
But will you still buy let’s say it goes down to $10 for example?
Thanks for the reminder @dpaterso. Since you seem like you’re not interested in crypto, my question for you would be the opposite. At what price would you be interested in buying bitcoin? 
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Never!!! LOL!!!
Seriously. I don’t trust this stuff. Maybe it’s legit. Maybe it’s not. Who am I to judge let’s be honest. It’s just way to volatile for me (although after the moves in the stock markets in the last few days that’s a pretty rich statement for me to be making let’s be honest).
INTERESTINGLY though: when stocks collapsed yesterday it would APPEAR (according to one or two program inserts on Bloomberg) that people were using Gold and, wait for it, BITCOIN as a hedge!!! LOL!!! Now THERE’S something I never ever figured I’d see or hear in my lifetime!!! LOL!!! But there it is. Does that legitimize Bitcoin as a tradeable instrument??? I cannot say to be honest. But there you go (for those that maybe didn’t know why Bitcoin has been getting a bid in the last few trading days).
Matter of fact (and I’m not doing this but it’s just a suggestion): maybe take a look at the S&P and Bitcoin (USD) on a daily basis and see how they correlate (inversely). Could be worth something??? Not sure. Just an idea.
If it ever goes down to $10, because some new laws banned bitcoin (which is highly unlikely as this is almost impossible to implement since Bitcoin is highly decentralized) or because a new and much highly technically developed coin finally took the place of Bitcoin, or due to some other sort of irrecoverable catastrophic development I would never buy it, of course.
It it ever goes down to $10 among a general market crash or a temporary short supply of miners (also highly unlikely) or any other temporary (but highly recoverable) situation, I would then sell my house, car, wife and dogs in order to buy as much Bitcoin as possible.
I guess, it all boils down to the cause of the price crash, and our capacity to accurately evaluate the causes of that crash. That is obviously where it always gets tricky and requires a touch of luck and/or gambling within your decision…
Your S&P/BItcoin correlation is a very good idea. Even if there is no correlation whatsoever there, it is good to know and keep track. A correlation could develop in the next years even if it is not (clearly) there today.
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Hi.
Well it’s certainly been there for the last three or four trading sessions (days). And who knows you know: stuff that’s put out on the likes of Bloomberg many times tends to take on a life of its own. And if THEIR analysts are talking about some big players using Bitcoin as a hedge??? Well as you say: the correlation may not be carved in stone YET but maybe in the future???
Other thing to maybe keep looking at is the US Dollar Index. At the moment that’s (the USD) having a huge effect on stocks anyway. And I’m pretty sure you’ll find a correlation there too.
Too funny!!! LOL!!!
Only thing I have at the moment IS my dog but oddly enough she’s the ONE thing I would NOT sell no matter what!!! LOL!!!
The above aside though: at $10 I’d give up my ranting and raving about Bitcoin and join you that’s FOR SURE!!! LOL!!!
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Hey.
Totally agree with the Bloomberg self fulfilling prophecy kind of move.If Bloomberg says it is there, it is there even if it isn’t 
The US dollar index could also have a worthwhile connection.
Crypto is so new that I feel no one really knows exactly what to look for, for certain. In doubt just look at everything…
Another poster (in another thread) was suggesting to also check the effect of the FED recent cut in interest rates in the price of Bitcoin.
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Well, I am sure i will get a much better price for my dogs than for my wife, that is why I am selling them.
Also, if I manage to ever buy Bitcoin at $10, I will be able to buy back my dogs very soon. It troubles me a lot to get rid of them actually. It would be only temporary. More like a dog lease kind of thing…
Yip. The Feds. antics for sure affect the USD so in turn I’m sure Bitcoin.
I HAVE NO ■■■■■■■ IDEA WHY I AM POSTING ON THIS THREAD BUT ANYWAY here’s a thought (LOL!!!):
What about checking the price in Bitcoin but across the currencies??? I know on my platform I have Bitcoin USD, EUR, and GBP. Now I know that with OIL there is some value in checking for correlation between WTI and Brent. Could something like that apply here for you chaps and gals??? Something like long Bitcoin USD and short Bitcoin EUR??? No idea. Just throwing out random thoughts (AS I SAY: ON A THREAD I SHOULD NOT BE ANYWHERE NEAR ANYWAY!!! LOL!!!).
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