What happens if Bitcoin drops back to $1?

[Sincerem]

It seems like you have experienced something will buying Bitcoin do you want to share? We often face a lot of challenges especially if you are a investor or trader, any small mistake you pay with your account balance.

The mistake I am talking about is failing to buy bitcoins around 2009 when the price of bitcoins did not have value. Then bitcoins was not UpTo a dollar. That could have been the best time to buy.

 

[Immilash]

The mistake I am talking about is failing to buy bitcoins around 2009 when the price of bitcoins did not have value. Then bitcoins was not UpTo a dollar. That could have been the best time to buy.

You are right, I believe if you bought that time you could have made a good amount of profits, the price of Bitcoin is now falling like brick, but this temporary.

 

[Chibson]

If Bitcoin actually goes to $1 then a lot of people will lose fate in the crypto-currency market. So many people will never agree to invest their money again because many other cryptocurrencies will die off.

 

[Agbalagbaa]

That's not happening, I don't think the price of Bitcoin will drop that low, now matter how Bitcoin will drop i don't really think it will reach $1 that's not possible, but anything can happen.

 

[Sincerem]

You are right, I believe if you bought that time you could have made a good amount of profits, the price of Bitcoin is now falling like brick, but this temporary.

Yes , no matter how it may drops it may not even be possible for us to see the price of bitcoins at the rate of $1 per a Bitcoin as it was in the past

 

[Immilash]

Yes , no matter how it may drops it may not even be possible for us to see the price of bitcoins at the rate of $1 per a Bitcoin as it was in the past

That's not happening,it won't make any sense for Bitcoin to drop that low, what my analysis is showing me is that the lowest Bitcoin will go is from 9 to 10k, but it's the market everything can happen.

 

[Chibson]

If a price of cryptocurrency drops from 69 thousand dollars to $1 that means it is a rugpull and scam. I don't think that will ever happen to bitcoin because it is already well established.

 

[Immilash]

If a price of cryptocurrency drops from 69 thousand dollars to $1 that means it is a rugpull and scam. I don't think that will ever happen to bitcoin because it is already well established.

That's true, it won't make any sense for Bitcoin to fall that low, we might even see some bullish Price action from 10 to 9k, for me I don't think Bitcoin will even fall to $5k.

 

[Chibson]

That's true, it won't make any sense for Bitcoin to fall that low, we might even see some bullish Price action from 10 to 9k, for me I don't think Bitcoin will even fall to $5k.

It will be possible for bitcoin to go as low as 5000 dollars but it will not go below that. In fact it touches that price a lot of people will start buying and the price will also skyrocket.

 

[Sincerem]

That's not happening,it won't make any sense for Bitcoin to drop that low, what my analysis is showing me is that the lowest Bitcoin will go is from 9 to 10k, but it's the market everything can happen.

Well , that means bitcoins has to break the 18 thousand support it is having now for us to see it at that price but $10000 might be quite lower . Even if this will happen the lowest it can go is 15,000 dollars from my little analysis.

 

[Immilash]

Well , that means bitcoins has to break the 18 thousand support it is having now for us to see it at that price but $10000 might be quite lower . Even if this will happen the lowest it can go is 15,000 dollars from my little analysis.

We have pocket of liquidity there, the market must sweep out those liquidity, as we all know the market gravitates towards liquidity, those lows must be taken out, I think the market has already taken them out, this just to squeeze the buyyers in the market.

 

[Sincerem]

We have pocket of liquidity there, the market must sweep out those liquidity, as we all know the market gravitates towards liquidity, those lows must be taken out, I think the market has already taken them out, this just to squeeze the buyyers in the market.

Well that means there are so many things I need to learn about cryptocurrency because from all indication is seems I've not even started making progress in terms of market analysis and so on.

 

[Immilash]

Well that means there are so many things I need to learn about cryptocurrency because from all indication is seems I've not even started making progress in terms of market analysis and so on.

Knowing how to analyze the market is very important, if you know that you can be able to analyze any market with candle stick, one thing I really like about analysis is that it works for anything that has candle stick, I don't trade everything but if it has candle stick I can trade it and make profits.

 

[Sincerem]

Knowing how to analyze the market is very important, if you know that you can be able to analyze any market with candle stick, one thing I really like about analysis is that it works for anything that has candle stick, I don't trade everything but if it has candle stick I can trade it and make profits.

You know there are three types of charts, just like you said, it seems people are very much more consistent with candlestick . Even when I was engaging in some mini forex training class , they were mostly dealing on candle stick and they consider it to be the simplest

 

[Immilash]

You know there are three types of charts, just like you said, it seems people are very much more consistent with candlestick . Even when I was engaging in some mini forex training class , they were mostly dealing on candle stick and they consider it to be the simplest

That's true, candle stick gives us the perfect view on how to analyze the market, you can hardly see a trader using line or bar chart to analyze the market,I don't think there will be type of chart that will be bigger and helpful than candle stick, it gives us the ability to read price and know we're it's going.