What's your reasoning behind this mate? There is little to no concrete proof or any other people who would ever imagine BTC dropping to the 5000 mark in this bear market.
I personally don't think BTC will even hit below 7,000 USD, we haven't seen any big price movements in the last couple of months and unless something drastic happens, I don't think we'll see any actual movement until then.
I personally don't think BTC will even hit below 7,000 USD, we haven't seen any big price movements in the last couple of months and unless something drastic happens, I don't think we'll see any actual movement until then.
There's a lot of TA out there suggesting a drop to between $5-6.8K with the possibility of $7K holding, this is probably why. Most people don't expect it to drop below $4.5K it seems as the 200 Week MA is there which supported us back at $3120. It still hasn't been broken and is continuing to trend upwards. $5K is clearly a number to rally behind for ₿ bulls basically. See here for examples of how Bitcoin could drop to $6875, $6410, $5,350 and $5,050, by extrapolating past price history to the current price.
Show up some technicals on this one rather than saying without having any basis.I read up above theres no significant support on 5k levels.
Here's an example of what $5K could look like for you. Give it a couple of months and the 200 Week MA will be there to support the price.
