Re: Bitcoin Drops Below $6,500

Bitcoin might be testing new lows by going below $6,500 level, however, analysts like Tony Vays and Ran Neu-Ner believe it will even hit $4,975 and $5,900 respectively before any upward momentum could be expected. Bitcoin Bull, Tim Draper is still bullish and planning to buy even more bitcoins with no plans to sell them any time now.

BTC highly bearish, Tony Vays target $4,975 but

The worlds largest cryptocurrency by market capitalization, Bitcoin has fallen to its lowest since February. Today, Bitcoin dropped down to an extreme low of $6,433. However, it has again gained a slight upward shift and gone above $6,500 level at $6,510.

Continue reading: https://coingape.com/bitcoin-price-drops-below-6500-experts-remains-bullish/

In my own opinion, its fine if bitcoins will keep on dropping its price because in this way you can always invest for a cheaper price in order to earn more profit in the future when the market values start to pump up again.

but now bitcoin price is down too deep and I think many people are shocked to see the price. they don't believe that bitcoin price is reaching $6141 but this is the reality that is happening in the market. maybe in a few days later, the price will get up and will start to pump again like you said and in that time, I am sure that all of us will be happy to see the new highest price. so lets we wait for the price and hold our bitcoin until the price can increase higher.

This is why Bitcoin is good for long-term investment. Well, this is market and it will only behave according to its supply and demand and let us just make this as an opportunity to buy some coins. Cryptos are unpredictable so it is not new that we experience with this kind of sudden drop of value.

you are right, and I use bitcoin for a long-term investment too because I know that I cannot always check the bitcoin price in every time. but if I have time to analyze, then maybe I will do short-term investment and maybe I can have a chance to do scalping trade too because if the price is up and down too often, I can make a nice profit. I agree that cryptocurrency is unpredictable and we need to determine when we can enter into the market so we can buy at the low price and sell at the high price.