If Bitcoin drops to $8k
Desscount
Bitcoin's strong support is at $26k I think, if $26k breaks then we'll see $20k, what the OP said I think $8k is not really technical analysis, because Bitcoin never goes down that deep, $15k to $20k maybe will be the bottom price of Bitcoin.
Questat
That is his point of view and it was different from mine (and even from the other members). I would say that was not a realistic view in the market today nor we could compare before as saying it runs to the same point like having a huge drop again. We have never seen yet that Bitcoin drop below $25k, not even it reached that level until today. This was an indication that the market has its stronghold at @28k. Though we can't assure until when the Bitcoin can hold that price, however, I was optimistic that it could until it rallies back high again.
adzino
Why sell based on speculation and FUD? Just hold. If the price drops to 8,000 USD, then keep holding. Don't sell anything. As long as you don't sell, you don't lose anything right? When the price falls down to $8,000 USD, just buy more. As much as you can afford to lose. In the long run, you will make some good nice profit.Probably my altcoins to buy more bitcoins.
worle1bm
So it tends to dip only according to this theory? The volatility factor is well known by those who have stayed in the market from few years and have seen the 2017 crash when it fell to $3k from ATH so those who wants to hold long term didn't care these dips and have your returns in future but with patience only.
m_nief
Not believing with Bitcoin values drop under $8,000 and support price I think only under $29,000. But never have any possible with bitcoin if always have bad news we can get under $8,000 although as little possibility. Many company accepted bitcoin and they won't losing much money if have to sell bitcoin under $8,000. Actually if bitcoin drop few percent from price now I think many investor will buy back and earn moment for bitcoin back to higher price.
MommyElsa
I will buy more bitcoin if it continue to drop. I prefer to hold during this time and no shoping policy for my self to avoid any unneeded things and save for bitcoin investment.
Finestream
There's no reason to sell. Sell only when the price is at its peaks, but in times of dips, its always better to buy more than to sell. And given the best opportunity in bitcoin, then let's fill in our portfolio with buying more bitcoin since its always the best asset in crypto that will give you the highest profits after years of hodling. No reason to sell but there are a lot more reasons to keep on buying when bitcoin price dips.
Sanitough
If you sell off your bitcoin at a low price of $8k, then you will only end up in a huge loss. Rather than selling, would this be a big opportunity to accumulating more bitcoin and hold them for future profits. This crypto market won't give us quick profits, so we should never do things that will make us regrets in the future. Buy the dip and hold, that would be the best move if ever.
Smartvirus
You know, my first instinct when I saw the title of this thread was me smiling because I know, I'm definitely buying more bitcoins and be ready to hodl for as long as I can. It would be the market giving late adopters like myself a second chance at gaining on the market and I would be a fool as much as many orders that won't be buying or would go about selling. Luckily for me, I'm not that type that is easily socked into the FUD that goes around and I'm sure I would be buying.The difference here is, I won't be selling anything in order to buy bitcoin. No, that's not my style nor the way I would want to go about it. Maybe I'll increase my allocations for buying more bitcoins and be more regular about it but, I definitely won't be selling no property or asset to acquire bitcoin. No, that doesn't go down well with me.
JoeLinvestor
IMO if you're holding an amount that's very heavy on you financially, maybe consider balancing your portfolio as a whole. If you have an amount of bitcoin that's well balanced in your portfolio where all these short term prices have no real effect on you (financially and mentally), i would consider just holding and look into buying more when it continues being cheaper and oversold. End of day, Bitcoin has a bright future but it's all speculation as well so who knows what's really the price. This is the game we're playing so learn the game and play it well. Buy low, sell high. Not sell low in case it goes lower to maybe buy lower if it goes lower. DCAing is key too. Long answer but that's my thought. If you're looking to make profits currently in this slow market, the only way I can think of is via arbitraging. Finding trading opportunities cross exchanges and buying/selling for a profit. I make profits daily on it so definitely look into it. I use coin arbitrage to help me find opportunities. Here's more info:
danherbias07
I may sell every altcoin that I have. It's an opportunity being given to ride the big boat once again and it's not every day that will happen, perhaps forever it will not happen anymore. Many followers of the Bitcoin market have regretted selling their Bitcoin a long time ago because of the profit it brought after a pump. Now, it's filled with regret and I won't be a hypocrite saying I was not part of that because I am. I sold my Bitcoins before that were accumulated from faucets because I need the money. I don't regret it much because I can see my kids healthy and happy. Yes, used it for their milk and diapers.
|MINER|
Now What do you think after seeing of the current market conditions? Will it ever happen that Bitcoin will go to 8000? No, I don't think that will be ever happening. And if it ever happened, I would borrow money from others and buy as much bitcoin as I could. Because there is no fear of holding bitcoin.
99Percent
your opinion is very exaggerated friends bitcoin is now popular in the world and is very unlikely to go down with a far price, but maybe it could happen only in a dream, you
sklopan
In my opinion, the price will not fall to this level. Overall, though, such a drop would be pretty interesting, and I would definitely buy at that price.
Sebas.tian
I think, the best decision if the bitcoin price dropped down to $8,000 or $10,000 is to sell some items to raise money to buy huge amount of bitcoin for future profit making. We are still in bearish market, it will be favourable to hold for the price to hit back to $50,000 before you can sell to make a good income. It will be difficult for the price to decrease to $8,000 at this moment, because we are about to enter bullish market where people will be rushing to sell their bitcoin to make a passive income.
Kasabus
I don't think i am going to sell part of my coins if ever bitcoin drops into $8k because we all know that when bitcoin price is dropping, majority of the coins are dropping too so its gonna be selling at a loss if i consider that. Instead, i will continue hodling all my coins and just spend some of my extra funds to buy more cheap bitcoin. That way, i know i will be hodling them all for profits, not for losses instead.
sklopan
Already read positive forecasts. If you believe such dynamics, then over time, investments in bitcoin will begin to increase again, which will entail an increase in the rate.
OrangeII
most likely, I will buy bitcoins or convert my investment assets into bitcoins. I strongly believe that the bitcoin price will not last long in the $8k range. even when there is a big FUD, I'm pretty sure there will be a bounce after that and maybe the bitcoin price will return in no time to tens of thousands of dollars. the other thing is, even if the bitcoin price won't bounce instantly, I'll probably keep trying to collect bitcoins bit by bit. I'm pretty sure the price will be high if held for a long time.
AicecreaME
I wouldn't sell anything just to buy Bitcoin's dip, I can use fiat from my bank account and buy the dip. I wouldn't sell either my Bitcoin just because of an FUD, it's not my first time experiencing bear market so I know what to do and what I don't wanna do. Buying the dip is the only to make profits in the long run without exerting so much effort on making technical analysis in futures, though I'm doing the same thing, buying the dip while scalping in futures.
bitcub
I don't even know who is Guggenheim. Actually I am bearish with BTC, and if BTC drops to $10k or even $8k, I will buy it with 50x leverage. Well, I am not simply base my buy and sell conviction with any influencers, I also base it on technical analysis.
LouVandetta
I'm not saying that is impossible or anything, it's possible. I can't even imagine what's gonna happen to alts if that's really happening, the price drops.Whether to sell my bags or hold them, it all comes down at which scenario the price at that point. There's a chance that I might save all fiat when I see a sign of another bear market, but sometimes it's hard to tell when the bear market begins until it happens.
AakZaki
But other people's thoughts will certainly be different from yours. there are some people who might sell their car or part of their property to get into bitcoin if the bitcoin price crashes to $8k.Even though bitcoin's volatility is high it won't deter them from buying cheap bitcoins.It's very risky, but if you don't have any spare money, that's the last resort.If you still have some spare cash or spear money left over for the event when bitcoin crashes, that's fine, so don't sell any property.
sklopan
To be honest, I would buy. I don’t know why, but there is a strong feeling that in the future the price will still be higher. For this reason, you need to be prepared.
wiss19
A rise of 30k is small based on the price that we see now so I don't believe on that speculation. For me for btc to fall down to 8k we need to reach a really high level like 80k and above because we know that after the pump, the dump then takes place.The price might not exactly dump at 8k because it can be too low already but most of the times the decrease of the price can continue, like on what we are seeing these days. That can be the only way to reach 8k. Fed might be strict now but I think the price of the btc isn't only dependent on them. That is why I believe that there's always a chance for the btc to recover and increase at a whole another level.
Jody.Drummer
If Bitcoin drops to $8K for whatever reason I think for a period of 4 years before the Bitcoin bull returns I always see a decline of almost 80% then anything can happen. Obviously, I wouldn't sell Bitcoin for any reason during a sharp decline, but most people think I will definitely buy more in a time of decline because we know that moment won't come back any time soon.
The Cryptovator
Everything is possible in crypto, but expecting an $8K bottom for a Bitcoin-like dream, is not only a dream it's a kinda nightmare. A lot of institutional investors already invested in Bitcoin and more are waiting for a dip. So drop to $8K big whales will eat the dip. Be realistic and analyze more about Bitcoin. A lot of heaters are just trying to spread the FUD. Due to FUD, people become panic and sometimes their FUD becomes true. Stay away from the FUDER and think yourself about the current situation.
MFahad
First of all everything is possible in crypto. Bitcoin down will not good for whole crypto market but selling at this stage is I think not good choice. Bitcoin is backbone of crypto and after fud clear First coin which will recover will be BTC. Big whale will accumulate. Theirs BTC and only panic seller's will lose there.
Awaklara
If the bitcoin price drops below $8k then I will be enthusiastic about taking advantage of this opportunity by buying more Bitcoin.I think there will be a lot of people who will do the same to take advantage of that opportunity if it happens, with a note depending on their financial capabilities. Before investing you also need to set a threshold of money you want to use. suppose you don't have to invest all your savings in crypto. As I said according to the financial capabilities of each individual and do not have to sell all the properties that you shouldn't have to do.
Robert518
I think it's impossible for Bitcoin to hit 8k. There was a analysis done on BTC by MyCryptoParadise and Looking at Bitcoin, we expect a move towards the $24k macro bottom strong support zone if we lose the $29k level again.
inthelongrun
My worst prediction for bitcoin is at $7,000. I am planning to start buying by tranche from $14,000 downwards. I am not selling most my current holdings. So personally I do not want bitcoin to drop that low but if it happens then we will also have the chance to buy more including altcoins. I am considering eth, bnb and then some other few coins that has very high potentials. Sys for example always made it x50 every time the market is bullish period.
livingfree
This will I never do.Why would I sell at that price despite I'm less loss by that price? We're used to the FUD in the market and if ever there are speculations and predictions that are too low and we don't like it, there's nothing to be wary of.They come handy and will eventually change the market on its reversal. When price becomes low for bitcoin, this will make everyone to crave and buy to stack as many as they can while it's totally cheap.It's just another signal to acquire more bitcoins for that cheaper price.
lienfaye
So far, the speculation of that person is not even close to reality so why are we going to assume his prediction might be true? Im not the type who will believe those who called themselves "experts" as we know it has no concrete basis to begin with. Anyway, if ever the price really plunged to $8k I will accumulate more Bitcoin. But at this time im not going to panic to sell my Bitcoin just because someone said the price will decrease to that value. I will just keep my Bitcoin and wait for whats going to happen in the future because we really dont know what lies ahead because anything is possible to happen.
nurilham
I will keep my Bitcoin in my wallet whatever the lowest price of BTC in this bearish. But I won't force myself to buy more Bitcoin by selling something in my home, I only buy with my free money. Although many people stated that BTC price to reach $100k in the next bullrun, no one can guarantee it. Crypto market is always unpredictable, don't be greedy to buy although the price drop to $8k.
Issa56
In Cryptocurrency I believe anything is possible, if bitcoin price drop to around $8k, I believe that's another opportunity to bag more bitcoin very cheap because I know it will definitely bounce back. I believe it's only newbies that should be scared of dump now, whenever thier is a dump am always happy because I will bag more coins. Have seen witness different bitcoin dump and I don't really panic, so even if bitcon dump now I see no reason why I should panic, if I don't have extral cash to bag more bitcoin, then I hold the one am having already.
thet
If the price of Bitcoin drops at 8k. I will try to buy as much as possible because Bitcoin price will increase again and again just like before. I am now in the process of overcoming my fear in trading and doing the long term investment with Bitcoin
Captain Corporate
That is a bit of a problem at the wrong time, but a problem that could be fixed. Lets assume that you bought 3 million dollars worth of bitcoin at 10k, thats 300 bitcoins, at 60k you would have 18 million dollars worth, correct? You would drop that to half at 30k, so 9 million dollars. I would totally understand if you are upset about that, but at the same time if you wait, do you really not believe that it won't be 60k+ again? I agree that with the greed you may wait too much and it may start to go down, but if you wait then it will recover again anyway. Only problem is with people who bought silly coins, because they may go down and stay down, but otherwise, if you bought bitcoin or ethereum for example then you will recover and be there.
Fivestar4everMVP
Depends on what caused the crashed, if no negative news caused it to crash to that amount, then I will just keep holding because I know it will go back up fast.But if it's a negative news that caused it to crash to that low amount, then I possibly will sell even far before it gets to that $8k price and wait to buy it back at a much cheaper price.The truth is that, I thinks it's only newbies(those new to bitcoin and cryptocurrencies) that will panic over the crash of bitcoin price, those who were here in 2017/2018 when bitcoin crashed from almost $20k to below $2k will understand better what I mean.
uneng
I'm not taking this speculation for real, because it seems FUD in order to lead investors to sell their coins right now with the promise they will buy again, hypothetically when bitcoin hits 8,000$, what may in fact never happen. Then we have a scenario where many investors gave up their held bitcoins for an empty promise spread by FUDsters who are going to buy those bitcoins cheaper, of course, but not at 8,000$'s price range.The safest strategy is to just keep holding, doesn't matter how deep the price is going to crash. Every investors should feel proud of themselves for holding some portions of satoshis, doesn't matter if they have many or few. Investors should keep in mind that is something they have already conquered and there is no reason to risk it for acquiring more. There are another ways to accumulate more bitcoins without selling your currently holdings.
Falconer
If I am still confident about the future of bitcoin, then I think collecting it is the right choice to do. But most importantly so far the speculation about $8K is unjustified even though the bitcoin price has fallen 60% from its high. It's always possible to face such a big price drop, but for some reason I still believe bitcoin won't drop below $20K again in the next 2 years.If you really have doubts about bitcoin going down to $8K, then I think you've missed a good time to sell it. Some people might still be lucky if they bought bitcoin at $10K - $20K before and sell now, so if you are one of those people then you just have to sell it and take that profit. But never regret later if the reality is not as speculated.
teosanru
If bitcoin really drops to 8k nothing will happen it will only give those rich lads and institutional investors to accumulate more of it at a much cheaper price because the weak hands will sell it off as if the market is going to die just how they did it at 3k before bitcoin reached 69k. Rest of the things are going to remain exactly the same there would be another halving and there would be another bill run.
jrrsparkles
If you have the money then just buy and wait for the things to happen, I don't recommend people to sell anything for investing onto something but me personally I beleive the drop to 8K will not end the career of bitcoin so probably I will sell anything that I can to buy as much as Bitcoin.
Tellek Garing
Do not think that one needs to sell any personal property to buy Bitcoin at whatever price, since Bitcoin is a volatile investment one needs to only use spear money which is money that will not affect your well-being if anything happens to the investment.So, in conclusion, I will use any available spear money to buy Bitcoin if the price ever dips to $8k but I will not sell my house or car to do that.
yahoo62278
You'd be a fool to not buy if btc dropped to 8k. Look at bitcoins past history, bitcoin has dropped and recovered to a new ATH 2 times in the past. You may have to have some patience, but bitcoin will rise.
KingsDen
This will be two different narratives for teo different scenarios. First scenario:If you are holding a large volume of btc and you have a need for financial spending in short time, you could sell and rebuy. But if you have no short term need of money, there is no need to panic. Bitcoin has proven its ability to rebounce irrespective of any level it gets to.Second scenario:If you do not own Bitcoin as of today. It will therefore be a big opportunity to gather as much Bitcoin as possible that you can.It is grossly subjective.
sheenshane
Nobody cares about him, he is a dump person without true knowledge about Bitcoin. He knows nothing about Bitcoin because he is only an expert on fiat, stocks, and other investments that I believe are irrelevant to crypto he guides only the firm's investment strategies and oversees clients and that's it all, nothing more. So how do I believe his prediction, in fact, we know in the crypto market, everything is unpredictable. Look around, everyone was talking about adoptions and Bitcoin was in the mainstream and it's already mature that could be possible many countries will announce soon Bitcoin becomes legal tender in their place. That's what I have seen here and I will never listen to him, he is a crypto hater too.
Dart18
If I can see the future and forecast what you said is true then I will definitely sell my Bitcoin without any doubts. That's the problem. We don't. But if it does go deep as $8k without anyone looking at the future then I am buying. That's the cheapest we could purchase after a it wen't up to $60k and it still has a chance to go back there because of faith and demand. I am sure I will not be the only one to do the same strategy and belief. I think what prediction makers are doing is using the December 2017 - April 2018 history. ATH turns to dumps then another deep dump.
rozak
Isn't that very far from the current price? if that happens, then market conditions are in serious trouble.if true, then I will buy Bitcoin with all my remaining stable assets. as well as some of my savings in the bank. no matter how long it takes to recover. but in the future, it will happen.most importantly do not use our money for daily needs. that limits the achievable investment plans.
AbuBhakar
Investors should learn how to stop loss and realize what amount they should start selling their investments, if they bought in a mich higher proce then set a ceiling point and drop point when it’s about to sell. Waiting too much for the price to rise again may take time ad effort if there willl be other means to recover that loss thru trading or having business then do it. It will depend on what amount we buy our BTC if already lose half of it’s value then maybe it’s time to stop loss and just buy back when the price seems to start to recover.
Botnake
No, because my bitcoin is ready for a long-term hold, if we think bitcoin will drop and we intend to sell, we should have done it when the price was still higher. Selling at $8k is a bad idea when knowing bitcoin ATH was above $60k, it doesn't make sense at all IMO.
aylabadia05
I'm not sure about the speculation if Bitcoin will hit the low price as stated ($8k if it hits $30k) which refers to the U.S Federal Reserve even though Bitcoin has historically been at its lowest point of 10,000 Bitcoins can only buy pizza.If the speculation is true, I will exchange all the fiat I keep in the Bank of the country where I live and sell land assets to buy Bitcoin.
Nrcewker
I know many people will comment about being panic and selling their coins.But let me say you that this is just an assumption and prediction.We all have seen what is Bitcoin capable of.So if it fall to 8k usd, then I will buy more to more Bitcoins in order to full my wallet.I have known and seen the potential of Bitcoins, I also know that the ref trend is for few more weeks.Once Bitcoins break the resistance of 32k usd, it will again rise to 50k usd non stop.So it’s my advice to all my fellow Bitcointalk people to buy as much as Bitcoins you can.You will thank me later.
AbuBhakar
If 8K really hit, I'm sure that the price will even go lower than that because its already way below the ATH which means buyer already loss there confidence in Bitcoin. Selling a property just to invest it on risky investment is a dumb decision whoever will do this because the price already dump with huge percentage so it means it can dump more than that. You should start saving extra money now if you really want to be prepared buying Bitcoin at lower price.
mindrust
If bitcoin drops to $8k, the world will keep spinning just like it did yesterday. Fundamentally nothing will change. Even if it drops to $1k or $100, nothing will change as long as the network runs smoothly. Some miners may have to stop their operations but then some other that can afford cheaper electricity will join. In the end people will keep sending and receiving coins and that’s all that matters.
logfiles
Bitcoin dropped all the way from $69K, and you decide to sell it off at any price between $29K to $8K just because some speculator talked about it dropping $8K?That's very poo investment approach IMO. If one was to sell, it should have been at around 60K-50K
Anguwa
There is no going back at this point; I will continue to hold my Bitcoin. Because this analysis is not yet clear, I will not sell my BTC now and wait for another dip; instead, I will keep enough stable coin and wait for a dip to buy and cover my losses.Actually, I don't believe the price will fall so low, but if it does, I'll sell some of my physical assets to purchase Bitcoin because I'm confident it will increase again.
joeperry
If this happen I will sell my currently Bitcoin holdings and repurchase again after it reaches $8,000 I think it would be impossible that it will be going to be lower than $10,000 or $20,000 was the bottom at least but we are unsure about how things will happen but just in case I am going to repurchase Bitcoin at a lower price after all my goal is to have at least have a few Bitcoins in my wallet and save it for years.
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Comment (1)
Oshosondy2022-06-04 12:44
With last 4 year cycle volatility, bitcoin only decreased like 5x of the ATH, if the ATH in this 4 year cycle is $69000, then I predict the lowest price can not be lesser than $14000, I do not think bitcoin can fall to less than $10000 again, but what is possible is $100000 which will occur in the next 4 year cycle bull market.