Topic: Will BTC go back to $40K - $30K range before a bigger rally? - page 6. (Read 1084 times)

You are right, Bitcoin is correcting itself but I wouldn't expect it to correct itself towards $40k or anywhere around that range because even if there is a huge sell-off in the market and everyone starts taking profit, the price will barely go below $50k and if it reaches $50k, that can be a good price point for everyone to buy more and keep holding for the bull run to take control of the market.
For now, the price stopped dropping and it is slowly recovering again, if it crosses $70k again, I think we will see it going to $75k after that and there will probably be no stopping it anymore.

I agree with that. I think none of us would want that to happen but as you said nothing is impossible in this market and we have seen such things happening in the past. The greed index does show positive signs but the chart is showing something else which is why I wanted to discuss and gather the views of the community on the matter.
Even though we don't want that to happen but if it does, that will surely be a great opportunity for all of us to buy more before the bull run if we have missed those prices previously.

A correction is likely to happen after the Bitcoin halving event, but I believe that it's price will go at around the $60,000  - $65,000 price range.

Will BTC go back to $30K - $40K? There's a possibility for everything because after all, it's crypto and anything can happen. The question though is "How realistic this scenario can happen?" TBH, with how optimistic I am this year, I don't think that we will see Bitcoin going as low as $40,000 at least this year. The lowest that it can reach is maybe at the $50,000 but the chances are kind of low IMO. Maybe the next time that Bitcoin will touch that price again is if the market is in a bear market again.

Of course, I might be wrong though, and we might see Bitcoin touching that price range this year, but the chances are pretty low. The "Fear and Greed" Index shows that we are in a greed, so I expect more people to buy more Bitcoin hence, pushing the price upwards. Investors are optimistic right now, so I don't see Bitcoin going as low as that price before making a big rally upwards.

You made quite a good and also quite reasonable analysis of the price of Bitcoin. Now Bitcoin has returned to the $68K price level which is not too far from its highest level ever this month. So I also think that this price correction will not be too deep or reach $40K again because price improvements after corrections also often occur in Bitcoin, which generally occurs this month. Bitcoin could also still end the month at $70K if the current price range continues for two weeks.

To be honest, we don't want bitcoin to correct by half because that's too far how those who have expected more will certainly be mentally affected by seeing that significant correction, but in my own view bitcoin will not correct further.

Quite simply what I do if bitcoin drops 50% will buy more at that price because for a bounce it won't take long especially before / after halving then it will be a short time for anyone who HODLs from buying the lowest price.

Once we do not believe the price of bitcoin will correct further.

I expect a bigger pullback somewhen in 2024, but not quite, and above all not to 40 and much less 30k.

From my perspective, Elliott Waves is a quite good metric to analyze the current situation. In my opinion we are currently in an Elliott wave 3 of a bullish cycle (which has 5 waves, 1, 3 and 5 are positive). Wave 3 is usually the strongest, because it is when the masses (institutional and retail alike, although the latter still not in full extent) will begin to ride the train because they're convinced that the asset will go up.

Having analyzed the three previous bull runs, I think we're now in the final phase of wave 3, because after some time of almost perfect uptrend, now the growth is becoming more "wonky" and there are several small corrections. That was very similar in previous uptrends - for example, in 2021 when wave 3 culminated in April/May, from about January on the pullbacks began to go deeper, but there were still higher highs. I also expect some more highs still. My personal estimation is about 80-90k for this high, 100k would be quite much.

After the wave 3 top I expect a deeper correction of about 30%. If we say that 85k could be the top, this should take us to 60k again, maybe to 50k, but I don't think the 48k January high will be broken.

Then of course wave 5 begins, the last bullish wave dominated by retail speculators, and this one could take us to 120-150k or even higher (depending on FOMO level and demand situation) for late 2024 or early 2025.

This is of course one theory of many, but I found that Elliott does surprisingly well when analyzing past movements in retrospective.

To be honest, I really don't know why the price went from 73K to 67K in the last Friday and Saturday. Maybe the FOMO phase had lost it's power and the selling pressure managed to overcome the buying pressure. I was expecting a price correction, but I don't know how much the price is going to fall before the next pump. One thing is for sure. The FUD army will begin spreading lies and BS about Bitcoin. We've all witnessed this happening during the bull runs in the last. The FUD gets more intense when the Bitcoin price is pumping. More "weak hands" will panic sell during the price correction, which might help for prolonging the price drop. Anyway, the real bull run has to occur several months after the halving.

I am very much full on this, we are not seeing anything like $40k down to $30k during this correction period. If it's even possible to get down below $60k to $50k I still won't believe, in my own view of the market we are expected not to see anything below the $60k  mark, it all ends there. As the week begins we may be prone to increase in market value, so no need paying much of an attention to the correction.

Bitcoin is currently down but in previous days it has crossed the previously created ATH and go ahead of it to and has touched the value of 73k$. This implies to the fact that we are in Bull season but this little dumps are happening just for correction and is not a major problem with bitcoin.

I don't know that when it will reach to 80k$ but I think that halving is near so we can see little more pump above 73k$ before halving and may be it touched 80k$ but still these are just assumptions. Halving is nearer and we will see a big pump during and after halving so be careful and don't sell your coins with loss.

This correction seems to be stronger than the ones we saw during the previous months, but it should not be a motive of alarm to anyone, and if bitcoin went back to 40k or even 30k, I am sure there are many investors that will be happy with such news, as it is likely this could be the last opportunity to buy bitcoin at that price before a new bull run were to appear.

Still, there is no much of a point worrying about it, this is the part of the cycle when everything begins to go our way and a small setback should not make us nervous, and if anything we need to think about it as an opportunity.

From my own observation, since when the price of Bitcoin reached $35k the correction in it's price is not higher than $10k that is for instance, When the price of Bitcoin was around $35k, the highest it dropped was $30k, then it got to $43k and dropped around $38k, then it got to $48k and dropped to $38k, so with this analysis now that the price has reached an ATH of $73k and dropped around $65k I don't think it would drop to a lower level of $40k again no matter the corrections that will take place except maybe after the bull run.

You don’t want a pullback that deep, if it pulls back into the $30K I would say it would be a bear market and it will trade in that area for many many months. We had a huge dip and $65K and hopefully it doesn’t go any lower than that.

The flows were positive last week and we got lots of tether entering the market so the steam shouldn’t run out anytime soon. But if we keep dipping, and touch $45K or so I would say that the top was $74K.

nah I don't believe it will go that low worst case scenario might be $50k but thats it, people are buying bags of bitcoin because they know the pattern, recent pullback will just float around $60k - $70k probably
because why? ETF are hitting all time high right now, surely the market won't suddenly dumps and causes people to suddenly lose a lot of money.
added with the many projects deployed that tries to attract btc for staking.
I think so far recent correction is something to be expected because we know earlier rally was going so high it goes even higher than all time high.
with measly pullback like this, eventually bitcoin will recover.
also, halving is around the corner, added with ETH ETF. its overall good situation for bitcoin and other cryptocurrencies so many hypes.

If this happens in the market then we will have nothing to do because no one is in control of the cryptocurrency market. The crypto currency market moves at its own pace. But the price of bitcoin you mentioned I don't think the price of bitcoin will come down that much even with dumping.The price of Bitcoin rose above $72,000 but recently the market has been dumping a bit and now the price of Bitcoin has reached $65,000. If the price of Bitcoin falls to the highs we may see the price of Bitcoin at least $50,000 before the Bitcoin Halving.

It could, but I don't see why it should. We already have bullish momentum, and the news are quite positive, so someone need to take massive profits to trigger a crash, but it seems it's better to wait a bit more to do so, because the halvening hasn't even happened yet - why take the profit now if you could do it later after letting the price go up more? I think the big corrections will start happening after we cross 80k or 90k

No wise person has yet made an accurate guess about the price of Bitcoin. So it is impossible to say exactly which direction Bitcoin will move. As we are very close to Bitcoin Halving, we will go through Bitcoin Halving in just a few days. So it is more likely that the Bitcoin price will remain in the normal range so that investors can get out and invest

Ok, but it did crossed it's previous high already right? $73k was achieved last week and so your initial assumption is wrong already. We could be seeing minor dip just like what is happening right now, $66k, hmm but that price is still big?

No one really knows, investors will say that it will not go that low, but speculators, day traders will make you a chart and show that it's possible to go to $30k-$40k.

So pick which side you are on. And the question is not reaching $80k before the halving, Bitcoin already shows that we made history already by breaking the previous all time high. You should look long term and ask how big this bull run will be.

What's the number one feature of crypto (Bitcoin) ? Answer:: volatility. So there's every tendency for the price to fall as low as $40k back and this was almost same issue that happen after the last halving and the achievement of the last ATH, I mean the price dropped so drastically that no one could believe that after Bitcoin reaching ATH of $69k it could go back to as low as $18k because I remember that was the dip price range when the bear market brace Bitcoin with it presence so when it comes to the dip of Bitcoin price it can also be as wild as the pump too.

"Ever again" Doesn't it sound like you are just talking about this period of halving? Does it mean you are sure that even in the future, Bitcoin will not again dip to $40k? Is that so? How sure are you about this? OP, if you really have had a lot of experience with Bitcoin or you have gone through the price history of all the bear and bull markets of Bitcoin, you will realize that every volatile asset has the tendency to experience a huge drop in price and a huge pump too; it's vice versa. I am actually looking for the worst price dips in Bitcoin history, but I can't find where I saved the information again. If you have time, you can read about the bad market crashes of Bitcoin, and you will see how badly the price dropped in the past after reaching a high price that most people also thought that it was not going to drop. 

Most probably many are posting this kind of prediction to create panic and fud which I think is normal because of the price manipulation. Bitcoin going back to below $50k is like saying the market is in bear again which I totally disagree. This is indeed just a little correction before we finally see the strongest bull trend, $100k is the target and can even go higher.