Abolute bottom of Bitcoin? - page 2.

LUCKMCFLY

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The analysis of BTC for many of the recognized magazines and pages give BTC as bearish, this really is what a large majority believe the market is and that it is likely that it will continue to fall in price, however, by supporting me in this article, they show the visions or possible scenarios of BTC, but experience has taught me that in the market the opposite of what the mass thinks can happen:

Quote

If the bulls push and sustain the price above the resistance line of the triangle, the pair could start a move to the 50% Fibonacci retracement level at $44,750 and then to the 50-day simple moving average ($50,161). Such a move will suggest that the downtrend could be over.

and:

Quote

The bears could then pull the price down to $30,000 and if this level cracks, the selling may intensify and the pair could drop to $28,000 and then $20,000.

Source: https://cointelegraph.com/news/price-analysis-5-31-btc-eth-bnb-ada-xrp-doge-dot-uni-icp-bch

Even so I think that the bottom of BTC has already been touched at $ 30k and I do not think that it will fall further from there, I think that the next movement of BTC may be bullish.

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

What makes you think that if BTC dips below a certain level, it will be done for forever?

That makes absolutely no sense to me. A lot of people said the same thing about BTC earlier - when it dipped below 5k during March 2020, there were a bunch of naysayers who touted the idea that BTC is not a store of value, is never going to return back to $20k, is never going to see widespread institutional adoption, etc. etc.

Yet, look what happened? Growth has been exponential and adoption has been insane. I think that it is entirely possible BTC will dip below $30k, or even $20k - but that has no bearing on its fundamentals whatsoever.

South Park

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Quote from: lepbagong on May 27, 2021, 11:48:05 PM

Quote from: South Park on May 26, 2021, 12:17:02 PM

All what we can do right now is to wait, things are extremely difficult, the market is moving in a weird way and it is unlikely things can remain this way for long, so sooner or later we will be given a signal by the market about the direction that it will take during the next weeks, if the price goes above the 40k level then this will be a clear signal that bitcoin will resume its upward movement but if it goes below 30k once again then there is the possibility the bear market has actually arrived.

optimism must always be awakened, although of course we must also be realistic in accepting the current reality, where the market is moving beyond expectations so far. who expect that there will be a sharp increase by the end of this year. but these past few weeks were surprised by a very deep correction and of course this is clear if seen not the behavior that has actually occurred it can be ascertained that there are external elements that make the market finally act negatively.

yes, agree with your opinion there is still a chance and we will see in the next few days whether there will be a decline below $30K or will it increase again to move past $40K. because this is the crucial price that will determine the next move.

but I'm still optimistic it's not over yet and there is still a long time until the end of the year still waiting for a movement to occur until the renewable price occurs.

I am an optimistic at heart as well however we cannot deny that bitcoin can do anything and we will just have to accept it, the price is now at 37k and it is getting closer to 40k so I am confident that if we see bitcoin breaking that level during the next weeks then any chances for a bear market will drop down dramatically and we will see bitcoin once again going up in value, it is just that it is not going to be as easy as the bears still have everyone scared about the possibility of a second crash which is making the recovery even more difficult.

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Quote from: thecodebear on May 19, 2021, 10:46:33 AM

Looks like we did just get the big bottom of the market! $30,000 it was. 54% drop from high seems reasonable for the big bottom considering there was no blow-off top and their won't be a crypto winter but just a lull for a few months before the price we're pushing to new ATHs again.

I figured $40k would be the bottom, turned out it was $30k but it's finally in. The panic can stop now they we've hit bottom prices and fiercely bounced off as the bottom is rejected.

For now that would be the absolute bottom of the market this year but a lot of things can happen in the next coming 7 months and we don't know if we will see another bottom or otherwise. I do hope that you are right that the prices really did bounced back for the better.

lepbagong

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Quote from: South Park on May 26, 2021, 12:17:02 PM

All what we can do right now is to wait, things are extremely difficult, the market is moving in a weird way and it is unlikely things can remain this way for long, so sooner or later we will be given a signal by the market about the direction that it will take during the next weeks, if the price goes above the 40k level then this will be a clear signal that bitcoin will resume its upward movement but if it goes below 30k once again then there is the possibility the bear market has actually arrived.

optimism must always be awakened, although of course we must also be realistic in accepting the current reality, where the market is moving beyond expectations so far. who expect that there will be a sharp increase by the end of this year. but these past few weeks were surprised by a very deep correction and of course this is clear if seen not the behavior that has actually occurred it can be ascertained that there are external elements that make the market finally act negatively.

yes, agree with your opinion there is still a chance and we will see in the next few days whether there will be a decline below $30K or will it increase again to move past $40K. because this is the crucial price that will determine the next move.

but I'm still optimistic it's not over yet and there is still a long time until the end of the year still waiting for a movement to occur until the renewable price occurs.

South Park

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Quote from: Oasisman on May 23, 2021, 06:39:47 AM

Well, nobody really knows where the bottom is. So, most definitely you can either say the true true true bottom If it goes below $20,000 right?
Nevertheless, everyone is just speculating with how Bitcoin would react to news and price forecast.
However, Bitcoin has been moving sideways from $31,000 to $39,000 last couple of days, and there's still a huge possiblity that $30,000 isn't the bottom yet, before Bitcoin bounces back to $50,000+ or hit another ATH.

All what we can do right now is to wait, things are extremely difficult, the market is moving in a weird way and it is unlikely things can remain this way for long, so sooner or later we will be given a signal by the market about the direction that it will take during the next weeks, if the price goes above the 40k level then this will be a clear signal that bitcoin will resume its upward movement but if it goes below 30k once again then there is the possibility the bear market has actually arrived.

Shasha80

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Quote from: Reid on May 23, 2021, 07:37:04 AM

Quote from: Shasha80 on May 23, 2021, 06:52:56 AM

Indeed, no one knows at what price the true bottom of Bitcoin is, because the movement of Bitcoin is still difficult to predict.
But I hope Bitcoin will not drop below the $ 30k price, although there is a possibility that the Bitcoin price could drop below the $ 30k price.
If we look at Bitcoin it always fails to rise back above the $ 40k price. Hopefully in the near future there will be good news about Bitcoin,
so it can be a trigger for the Bitcoin price to rise.

Yeah, I want to see it play with 43-45k and maybe 3-6 months again with a stagnant movement.
IMO, that is a good thing if Bitcoin could withstand any FUD that will come out.
It's great that it recovers quickly from $36k - 440k then now back to $35k. I don't think the dump is yet over.
The only thing that prevents it from sliding in one big sweep are the hodlers which I think will play a big role in avoiding a massacre.

HODL guys or use this as a chance to enter the Bitcoin world. Who knows if it will double its price again.

Bitcoin is currently still struggling to get past the $ 40k resistance price, hopefully all of our hopes will be achieved, Bitcoin can recover to
a price of $ 43- $ 45 again. Although we must admit that the possibility of the dump is not over yet, if it turns out that in the near future
Bitcoin dumps back even deeper. My advice is that we all have to be patient and HODL the Bitcoin that we have, because Bitcoin will definitely
recover soon, that's something we must be sure of. Even if we have extra money, we have to buy more Bitcoin, because if the Bitcoin is
recovered we can get double the profit.

sana54210

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Quote from: goaldigger on May 20, 2021, 02:44:24 AM

Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

Hopefully you're right, we just hit the price of $30k yesterday and this might be the bottom for this year trend but still the market is unpredictable and everything is possible to happen even the worst thing. A week after making this post, Bitcoin hit this price level hope that you save yourself from this downtrend because I didn't see this one coming, and I miss the chance to secure my profit. Cheesy

I honestly hope that 30k was the bottom, but at the same time I feel like if we are going to recover then maybe dropping even more doesn't matter? I mean think about it this way, if we can end up with a decent amount of money right now, that means we are not going to want to go from here, we would want to go from lower. So which one would you prefer, go from 40k to 70k? Or go from 30k to 70k?

It means what should we want depends on what we will get, if we are going to not get any of those recovery high levels then I do not want to fall at all. What we can expect from bitcoin is that there is a true amount of companies who got into bitcoin and still in bitcoin and some of them are still buying as well, it is not like back in 2017 where it was just us and even the rich people were selling theirs (mt.gox trustee, jihan wu, craig wright etc etc) so that we were screwed, now we have rich people in the bull side and that is why I do not think that we will fall like those days.

Reid

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Quote from: Shasha80 on May 23, 2021, 06:52:56 AM

Indeed, no one knows at what price the true bottom of Bitcoin is, because the movement of Bitcoin is still difficult to predict.
But I hope Bitcoin will not drop below the $ 30k price, although there is a possibility that the Bitcoin price could drop below the $ 30k price.
If we look at Bitcoin it always fails to rise back above the $ 40k price. Hopefully in the near future there will be good news about Bitcoin,
so it can be a trigger for the Bitcoin price to rise.

Yeah, I want to see it play with 43-45k and maybe 3-6 months again with a stagnant movement.
IMO, that is a good thing if Bitcoin could withstand any FUD that will come out.
It's great that it recovers quickly from $36k - 440k then now back to $35k. I don't think the dump is yet over.
The only thing that prevents it from sliding in one big sweep are the hodlers which I think will play a big role in avoiding a massacre.

HODL guys or use this as a chance to enter the Bitcoin world. Who knows if it will double its price again.

Shasha80

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Quote from: Oasisman on May 23, 2021, 06:39:47 AM

Quote from: uninterestedparty33 on May 22, 2021, 06:43:12 AM

Quote from: thecodebear on May 19, 2021, 10:46:33 AM

Looks like we did just get the big bottom of the market! $30,000 it was. 54% drop from high seems reasonable for the big bottom considering there was no blow-off top and their won't be a crypto winter but just a lull for a few months before the price we're pushing to new ATHs again.

I figured $40k would be the bottom, turned out it was $30k but it's finally in. The panic can stop now they we've hit bottom prices and fiercely bounced off as the bottom is rejected.

This guy...it seems like if we went to $20k he'd call it the true true bottom.

Well, nobody really knows where the bottom is. So, most definitely you can either say the true true true bottom If it goes below $20,000 right?
Nevertheless, everyone is just speculating with how Bitcoin would react to news and price forecast.
However, Bitcoin has been moving sideways from $31,000 to $39,000 last couple of days, and there's still a huge possiblity that $30,000 isn't the bottom yet, before Bitcoin bounces back to $50,000+ or hit another ATH.

Indeed, no one knows at what price the true bottom of Bitcoin is, because the movement of Bitcoin is still difficult to predict.
But I hope Bitcoin will not drop below the $ 30k price, although there is a possibility that the Bitcoin price could drop below the $ 30k price.
If we look at Bitcoin it always fails to rise back above the $ 40k price. Hopefully in the near future there will be good news about Bitcoin,
so it can be a trigger for the Bitcoin price to rise.

Oasisman

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Quote from: uninterestedparty33 on May 22, 2021, 06:43:12 AM

Quote from: thecodebear on May 19, 2021, 10:46:33 AM

Looks like we did just get the big bottom of the market! $30,000 it was. 54% drop from high seems reasonable for the big bottom considering there was no blow-off top and their won't be a crypto winter but just a lull for a few months before the price we're pushing to new ATHs again.

I figured $40k would be the bottom, turned out it was $30k but it's finally in. The panic can stop now they we've hit bottom prices and fiercely bounced off as the bottom is rejected.

This guy...it seems like if we went to $20k he'd call it the true true bottom.

Well, nobody really knows where the bottom is. So, most definitely you can either say the true true true bottom If it goes below $20,000 right?
Nevertheless, everyone is just speculating with how Bitcoin would react to news and price forecast.
However, Bitcoin has been moving sideways from $31,000 to $39,000 last couple of days, and there's still a huge possiblity that $30,000 isn't the bottom yet, before Bitcoin bounces back to $50,000+ or hit another ATH.

kryptqnick

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

It's very hard to predict the future of such a volatile market, and all we can do is look at history for some insights, even though history might not repeat itself. The last time, Bitcoin was at the top in the middle of December 2017, and within two months, the price dropped to $8k. The dip with the price being less than $4k, however, came a year after the ATH point. This time around, the price was at the top throughout March and April and half of May (so it was 2.5 months at least, but arguably even longer if we count from BTC reaching $40k), and Bitcoin is 40% down vs the last time's 60% down point after two months. So clearly, things are happening slower this time. It should also be noted that IMO the price dropping to $4k was abnormal and caused by Craig pulling a lot of effort into this, so perhaps nothing like this will happen this time, and in that case, the dip will be reached in about a month, more or less, at which point the price will stabilize (give or take) and remain at around $25k for a year or longer. Of course, these are all just my assumptions based on what happened the last time, and they can prove to be very inaccurate because the past cannot predict the future.

South Park

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Quote from: ancafe on May 18, 2021, 01:24:16 PM

I just hope that this is the basis. however, current prices have fallen too far. In addition, bitcoin price ranges are still hovering at $ 43k to $ 45k. I expect $ 42k to be the lowest drop this month. other than that, I'd really like to see another $ 50k price at the end of this month. Well, I hold on to it, and try not to panic selling.

We will have to see what happens from now on, there were a few minutes in which we even reached 30k for each coin, the price quickly recovered but now we are still below the 40k level and it seems it is going to take some time for the market to recover from this attack, however even if people are scared people should not get discouraged as even with the current drop I do not think the bull market is over which means that you could easily double your money in a few months if you invest now.

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Quote from: uninterestedparty33 on May 22, 2021, 06:43:12 AM

This guy...it seems like if we went to $20k he'd call it the true true bottom.

I don't think there was anything wrong with what he said. He seems to clearly say he *thinks* it could be the bottom, and I'm sure if we drop again he'll adjust it. He wasn't giving an ultimatum or even a prediction for the price. This is completely normal for anyone in this Speculation thread;)

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Quote from: thecodebear on May 19, 2021, 10:46:33 AM

Looks like we did just get the big bottom of the market! $30,000 it was. 54% drop from high seems reasonable for the big bottom considering there was no blow-off top and their won't be a crypto winter but just a lull for a few months before the price we're pushing to new ATHs again.

I figured $40k would be the bottom, turned out it was $30k but it's finally in. The panic can stop now they we've hit bottom prices and fiercely bounced off as the bottom is rejected.

This guy...it seems like if we went to $20k he'd call it the true true bottom.

goaldigger

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Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

Hopefully you're right, we just hit the price of $30k yesterday and this might be the bottom for this year trend but still the market is unpredictable and everything is possible to happen even the worst thing. A week after making this post, Bitcoin hit this price level hope that you save yourself from this downtrend because I didn't see this one coming, and I miss the chance to secure my profit. Cheesy

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Quote from: Wawa2013 on May 19, 2021, 06:33:49 PM

Quote from: Desscount on May 19, 2021, 05:02:37 PM

Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

you made it mate! Bitcoin price fell to $ 30k, and now it has increased again and is trading at $ 38k,
indeed there are indications that it will decline again because the $ 40k resistance has not been exceeded in the 1 day Time Frame,
I myself am still monitoring, should I cut losses and buy back or hold again

The price of Bitcoin has fallen quite deeply now, so we shouldn't be in a rush to make a decision. But I do agree that the Bitcoin price may still
fall again, after several failed attempts to cross the resistance price of $ 40k. We'd better monitor in advance until the end of this week,
if Bitcoin continues to fall my advice is to cut loose and buy back at a low price. But the decision is yours alone, just follow the results of
the analysis that you have done. Because following other people's opinions in a situation like this is very risky.

I am concerned too as I saw yesterday, the price is run to the lowest price and makes many people panic. You can cut losses and buy back at a low price, but you need to be careful because there is no guarantee to buy bitcoin at a low price. The price can still go down after we buy, so that needs more analysis to find a good time to enter the market. This moment will be unpredictable for us, making it difficult to find the time to buy back bitcoin.

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Quote from: Wawa2013 on May 19, 2021, 06:33:49 PM

Quote from: Desscount on May 19, 2021, 05:02:37 PM

Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

you made it mate! Bitcoin price fell to $ 30k, and now it has increased again and is trading at $ 38k,
indeed there are indications that it will decline again because the $ 40k resistance has not been exceeded in the 1 day Time Frame,
I myself am still monitoring, should I cut losses and buy back or hold again

The price of Bitcoin has fallen quite deeply now, so we shouldn't be in a rush to make a decision. But I do agree that the Bitcoin price may still
fall again, after several failed attempts to cross the resistance price of $ 40k. We'd better monitor in advance until the end of this week,
if Bitcoin continues to fall my advice is to cut loose and buy back at a low price. But the decision is yours alone, just follow the results of
the analysis that you have done. Because following other people's opinions in a situation like this is very risky.

as no one can tell you exactly what will happen in the market, one week or a month from now. what you can do, is do your own analysis of the market situation and your situation. how far can you hold or how much can you afford to lose in this market if the price continues to go down? no one can assess your situation but yourself.
it is indeed hard to decide based from others' opinions because we have different situations in our lives. so if you think it is the best route in your situation, take it. but take note, don't regret it later.

Wawa2013

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Quote from: Desscount on May 19, 2021, 05:02:37 PM

Quote from: Mankov on May 13, 2021, 04:39:47 PM

What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

you made it mate! Bitcoin price fell to $ 30k, and now it has increased again and is trading at $ 38k,
indeed there are indications that it will decline again because the $ 40k resistance has not been exceeded in the 1 day Time Frame,
I myself am still monitoring, should I cut losses and buy back or hold again

The price of Bitcoin has fallen quite deeply now, so we shouldn't be in a rush to make a decision. But I do agree that the Bitcoin price may still
fall again, after several failed attempts to cross the resistance price of $ 40k. We'd better monitor in advance until the end of this week,
if Bitcoin continues to fall my advice is to cut loose and buy back at a low price. But the decision is yours alone, just follow the results of
the analysis that you have done. Because following other people's opinions in a situation like this is very risky.

Woodie

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Just looking at my portfolio and seeing the massive price drops all in red paint, it's just too much to take in for now am staying off the charts I can't take this any more...some of my coins are almost -50% in value. These are times you would wish cryptos were centralized to control these drops.

Quote from: livingfree on May 13, 2021, 04:49:28 PM

Quote from: Mankov on May 13, 2021, 04:39:47 PM

snip

Quote from: Mankov on May 13, 2021, 04:39:47 PM

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.

The halving is about to happen within the next 3 years and I'm assuming that we'll never see $30k as the lowest by that time IMHO.

3years is a long time, and anything can happen before the halving , and if you say $30K won't see light when we approach it's, what happens if the halving find btc price trading below $30K??
I guess no one can see that far into the future!

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