Bitcoin price is now below 7,400$. We are seeing constant declining of the price since 5th may. Can you guys tell me how low it may go or we can hope that it may rise after this month.
Do not worry too much about the short them variations in the price of bitcoin, are you a trader? Because if you are not then stop worrying about it, the price will recover at some point in the future, as with how low the price is going to go, we do not know when that is going to happen but we know it is going to happen at some point and when that happens you do not want to have fell victim of panic and sell your bitcoin as a result.
If he is even a trader and a professional one, he would not be asking such a question which makes me wonder what business he really has with how low bitcoin can go. The thing is that no one even knows, and all we have is the trend which even as traders, we simply follow, but with the way things have been so far, the long term should be the main focus of every investor and those who are more focused on the short term are going to always end up making wrong judgments.
You are correct but sometimes people just ask those kind of questions out of curiosity not understanding that it is impossible to answer those questions, some people will later claim that they were able to predict the exact bottom but even if they can prove it there are probably millions of predictions of when that is going to happen so some of those predictions are bound to be right.