Topic: Will BTC go back to $40K - $30K range before a bigger rally? - page 2. (Read 1084 times)

Bitcoin can indeed have more of an effect on increasing altcoins in the market and this has happened very often when Bitcoin has experienced an increase in price in the market. I wasn't that surprised when I saw altcoins that had experienced more price declines in the market when Bitcoin started to be corrected in quite a small amount because I always differentiate between Bitcoin price movements and altcoin price movements in the market even though the increases often occurred simultaneously.

If you want to invest in Bitcoin and not invest in altcoins, it's a good idea for you to do it now without having to wait any longer to do that. But you also have to determine the time because Bitcoin is always more suitable for long-term investments, not for short-term investments like those made by people who buy altcoins. However, if you only want to trade with altcoins in the market for short-term profit targets, it wouldn't be wrong for you to wait for the next price drop even though I myself don't know when the next price drop will happen again for altcoins.

We saw a new ATH before halving, then price began to dip, and the OP created this thread asking about price speculations before the halving, whether, it'll dip between $30k to $40k, anyways halving has happened and price is still hovering around $60k to $65k, it's approximately $63k now. I think that within this range that price is now will be it's correction before it'll starts to be bullish, because it has been around this range for quite a long time without any further significantly dip. But this is the crypto space, anything can happen and we can see a significant dump or pump on the short term.

Nobody can tell you the exact value that what will be it and how lower it will go but as halving has taken place so there are hopes for good gain and price will not be reduced as much as 40k$ but it is not guaranteed as the market can change anytime.

The market is not showing greater effects and greater changes because Bitcoin is still 63k$ and does not show a huge pump or huge dump after halving. We will follow the market price and will accumulate more during the lower price and will sell when the price goes higher but it will be easy if you make a target for taking the forward step.

I don't think anyone can say for sure whether Bitcoin will go down or not, everyone including me can only speculate.
When I posted this I thought that Bitcoin might go down because the halving still had to happen and Bitcoin had already gone up so much before the halving so I felt like Bitcoin from here on out would do a little correction then I posted this to get everyone's opinion at that time almost everyone was commenting to me that it is not possible.

I said then that this is the crypto market, anything is possible here, we should prepare ourselves for every situation and invest accordingly. Every time it gives us new surprises, we may see more surprising situations, so we should keep our minds ready for it all.

Judging by the time you made this post, you had a very good concern that later happened, though not entirely as expected. Bitcoin moved so well to hit below $60,000 but I am not sure if it will ever reach $30k-$40k anymore, at least for now. Well, this behaviour is not what any right-thinking person would not have expected and I've iterated on it many times on the forum that Bitcoin might behave in a way that will surprise people. The coin is in the bearish trend in a short-term scope and might remain there unless it has the power to rebound strongly to breach the current ATH at $73,850. The issue Bitcoin is facing is that it moved higher before its real-time, so people are now cautious because it has already moved too high and has created a new ATH, a level from which it starts falling in March.

I doubt if there are people still willing to commit their huge money to Bitcoin at this level, but time will tell on this. However, on the selling side, it can't be worse for it to breach $45,000 in my opinion, though the bearish impact is still being felt. Nevertheless, I can see some sideways movement on the larger scope, and one may want to make their money with this pattern. Lastly, a bullish candlestick is spotted today even as the 4-hour chart is positive with its price action. These might make it move higher for a while, particularly this time that the market continues to find comfort above the 1D Fibo level of 38.2% at $60,340.

You were right that Bitcoin will correct further. Given the current state of the market, I still think Bitcoin can go lower than this point. A lot of altcoins which are very high went up as Bitcoin went up. Bitcoin hasn't gone down that much yet but with a little correction the altcoins have gone down a lot.

What do you think? Is this a good time to invest or should we wait more considering the market conditions?

With the current price correction, I guess I’m now more convinced that bitcoin might totally touch $50k again but certainly not lower than that. And I think that won’t be a problem since we all know it will eventually recover again right after a price drop. But for those who’ll be able to take advantage with the current price drop, I believe they will gain higher potentials for profits when bitcoin price starts to surge high and skyrocket again.

I don't think you'll see bitcoin hit $40k or $30k anytime soon, but you'll see some more dumping. We know bitcoin always corrects the price after a massive pump but this time it took a different form. Moreover many altcoins are now trying to pump the price of bitcoin using the opportunity to increase. But this time will be best for those who want to invest short time. So if you plan long time holding then you should wait for some more time.

That's a general understanding anyone who knows the market would have. There is no doubt that the future is unpredictable, but based on what we see or have seen in the past, we can speculate, and based on what we have seen during past halving events, the price usually doesn't go down after it but there are always chances for that to happen before the halving because we have witnessed that before where the price used to drop significantly before the halving and then recovered after it.

Since we have seen irregular price movements this time around, things might be different but the possibility of the history repeating itself is higher. Regardless, we should be mentally and strategically prepared for what might happen after the halving event.

What are your predictions based on? Can you provide a chart and indicator where you think we have a hidden reversal pattern and the possibility of bitcoin dropping to the $60k area?

Personally, I'm not good at technical analysis but I see things as supporting a short-term uptrend and the odds of us hitting a new ATH are higher than the odds of us falling back to support like you said.

Regarding bitcoin correcting after halving, I will support you because nothing goes up forever. But I believe that Bitcoin will continue to make new ATHs and will only correct after the halving, and it will also be a significant correction in preparation for entering the biggest growth wave of this cycle.

On the contrary, I haven't seen any reversal, the price is going up again and hitting around $70k as we speak. So there is still this buying pattern, and as we close the block halving, it's very easy to say that there is panic buying that is going to happen before the actual halving date. Let's see how it goes, we should be excited that we will be in another bull run or block halving. And for those who are in their first time to see this happen, I would recommend to stay late and observe what is going to happen in this activity. So for now let's just look at the fundamentals and not make it overcomplicated for some of us with technicals, just saying.

There is this hidden reversal pattern that Bitcoin is forming on the daily time frame, And when this is formed in the major area of resistance, it 70% of the time causes a reversal in the price of an asset, and if this plays out, this will see Bitcoin go retest $64k, a support zone of the wedge pattern that saw the price out yesterday and failure to hold that support, we will see a continuous melting down of the price of Bitcoin down to $60k-$58k, Where I see a major area of support for buyers to step in and to try to push the price back up; however, we don't know what pre-halving and post-Halving entails.

To be honest, no one exactly holds what will be the future price of bitcoin. For me, it’s still possible for bitcoin to fall below $50k if the current price consistently drops. Regardless the fact that bitcoin halving gets nearer, no one can stop bitcoin from dropping drastically if that’s how the current trend is. Probably, bitcoin might follow a new route within this year’s bitcoin halving journey, and history might not repeat itself anymore. So let’s wait and see. If bitcoin price never goes up again until halving, most likely its target price will only stop at $65k above or might drop more if the price correction never stops.

Keeping possibilities aside, we can see that the halving event is just around the corner and Bitcoin is still above $65k which is great because we want to have a price as high as possible by the time the second phase of the bull run begins which will make the new all-time high higher than we might be expecting. Currently, I'm optimistic that the price might dip a little bit before the halving, but it wouldn't be significant enough to make it go as low as $40k, hopefully.

Talking about possibilities, even if it does manage to go that low, I and I'm sure every other investor would consider that to be a bonus opportunity to buy more Bitcoin at a lower price before the bull run because we know the price will go up even if it goes to $40k for once from here.

Well, the current price movement of bitcoin is quite impressive these days as it already touches $72k and then drop again, but targeting $40k-$30k, I guess that's already hard to expect seeing bitcoin within that price range. Although bitcoin can still go beyond our expectations, and we have no control of it really, but if we based its current movement, it's supposed to move upward than moving backward instead.

Of course - you can hope, but don't get your hopes up. You should be aware that anything as uncontrollable as the crypto market can change at any time - this is a risk that continues to lurk for anyone who owns an asset. Investment asset prices will not always rise according to what we expect - so always be wise in risk management instead of just being optimistic about the future.

We can all take advantage of short-term and long-term volatility to gain returns - but the most important thing to always consider is risk. There is always a risk - so never put all your eggs in one basket. That good financial advice is always mentioned - I understand it as the reason why I don't just own one investment asset.

It is already in the bullish period so the positive trend will be more people will not care about the negative trend even it will not last long then the halving is the moment where the price can ATH again with its record high, not without reason because the market is now in the right cycle for bitcoin.
The market will be a big crash that may start from 2026 because the bullishness has started to subside, but we never know how long this bullishness will last but 2024/5 is the moment where the bitcoin price is high.

If it is possibility in general then its price could dump that low especially if nig investors will choose to manipulate the price or to trigger the dump, or if anything could happen perhaps an event that woud push investors to sell and prioritize their daily needs such as with the pandemic has started. However, there is also this tendency that it could just play around its market price at the present until the halving occur. Bottomline is always without certainty when it comes to Bitcoin and other crypto's market price movement unless it actually happen.

If here's because you're worried then choose to hold no matter what if you can. But if in doubt then the option of selling early and wating for a lower market price would as well be valid. Just keep in mind that a sudden pump could also take pace which could leave you at the bottom. Make a decision that won't give you any regret and frustration. Do your DCA and make the right action for your own holding's sake.

At this point the chances of the price reaching that range are not very high, I would suppose the best timing for this to occur was after the last ATH, as the bears could have used that moment to scare away the weak hands with a strong correction which snowballed and became a crash, but the correction was very mild, showing the strength of the bulls is massive, and that most likely after the halving we will see a positive trend instead of a negative one.

If that is what is being asked, maybe I have explained it in another topic, which asks the same thing, of course if we look at past experience and speculation that has been predicted by Bitcoin halving which has passed Bitcoin's lowest price of $40k, However, this year's halving is the umpteenth time, meaning that from speculation that Bitcoin has reached its highest peak, it is estimated that it will fall around $57k in the next calculation.

But whatever is in our minds, of course in terms of speculation and predictions that is best for ourselves, other users can only make comparisons between their own speculation and others, OP whatever happens to Bitcoin in the future is the best, meaning that in the future you must have what you dream of now, of course Bitcoin in your wallet, so that you become a good Bitcoin user for yourself, after the lowest price is reached.