Quote from: Thirdspace on August 16, 2018, 11:06:00 PM

don't wait for lower price, there is a very strong support at ~$6,000
if you are planning to add more bitcoin to your portfolio, you should buy now
even if it drops below $6k, I'm sure it will bounce back within a month Cool

There are too many people holding stakes in bitcoin at the $6k level so it cannot go below there. The cost of mining becomes unprofitable so it would almost be worthless if it went below. There is a lot of money invested in the mining so people will buy at low levels to preserve their long term investment prospects.

I don't understand why some people are expecting it to go lower. It's already dropped a third of its value from the peak last winter, and there's only good things to come. So this is just another opportunity to get on for a lower price. Take advantage of it.