Topic: Abolute bottom of Bitcoin? - page 3. (Read 936 times)

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

We all already know that BTC has fallen 15% more, roughly more than 35% than Peter Brandt at one point said, now the short-term analysis in this case suggests that it has downward pressure at all costs, however, it is not for that panic, you should be cautious and those who can buy in the fall would be a very smart move:



Source: https://u.today/btc-eth-xrp-ada-and-bnb-price-analysis-for-may-19

This is just a drop, it is normal in any market, I do not think this will go to the bottom, many are taking advantage of the huge FUD, but it is not to panic.

Its reasonable to say its hit various measures to indicate a harsh fall, that alone can cause people to close shorts and so on.    So 50 week average is (27.8k)  here and also a rough trend marking the most aggressive stance from the stop.



This is only a rough sketch but I take it as reasonable anyway, weekly bars we broke the range held for months and then kept on rolling downhill.   We had a ton of speculators in the price whatever people might have thought about strong hands, people like profit and sell when its endangered quite a simple concept.    Since we got to close the 50 week average thats a good place to start to measure any strength or reaction, also watch 2 day average for a cease and desist to the offers.   Till its beaten 2 day average I dont think its begun any rise properly, its got to stabilize and probably this takes some time to do so.
30k to 20k is an area I will consider fair buy is some old note I'll stick to, I actually hope I get the chance to do that.

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.

The answer will be no one knows but you can still predict how deep bitcoin price will reach later. Bitcoin price is getting down again this day, and the price is still going down. Hopefully, it will not go down too far and the bitcoin price can rise slowly after reach the bottom. But it still a mystery to us about the bottom price because we never know what will happen to bitcoin. I hope there is no bad news coming at this moment because that can make the price jump down for more.

Well it can happen but we don't know what is the absolute bottom of bitcoin, that's why I said in my previous post that it can only be identified after the fact had happened. No matter what happens we just have to be ready what happens next.

It was in the news that Chinese regulators are trying to completely stop the use of cryptocurrencies.
There is no other reason behind it except for the divided investment in different cryptocurrencies that are popping out.
Memecoins, shitcoins, animal coins and a lot more without even a product to back up their projects.

Its expected and we have seen this before. An altcoin hype comes in and then someone throws a bad news about Bitcoin.
Value falls but it will likely go back in a few months or so. I'd be careful getting dragged by all this FUD's.

Just 1 week passed and the Bitcoin price already reached the 5 years bottom?  look at the price now https://coinmarketcap.com/currencies/bitcoin/

Bitcoin had drops to 30,000 level meaning the next 8k loss will fail your prediction.

I wonder that if another Big issue comes this week alone ? the value might drop down to 20,000 level and that's what i am waiting for lol.

To buy more and more from my USDT holding now because i was lucky to sell all my coins yesterday at 55k still.

5 years is such a long way to determine the bottom. The market are currently showing bearishness, we might be seeing the bottom this year or next. And I'm afraid $30,000 would be a little higher expectations. If Bitcoin falls below that, that means a good buying opportunity.
Remember, Bitcoin has never failed when it falls down to $3,000 after the almost $20,000 ATH in 2017.

Will be below $42k by the end of the week. Will never be above $50k for a sustained period again.

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.

The reason why that is a price that we will not see is that this bull market behaved completely different than the one we saw in the past, when we reached 20k during the bull run of 2017 we only stayed close to that price for a few days, while this time around we stayed close to the ATH of this bull run for weeks, this tells me this was not the top and if it was then the crash is not going to be as bad as the one we saw back then.

Absolutely bottom could happen eventually, however we are forgetting that we are above the prices we will never see again anyway, we just don't know about it. Like for example it has been nearly over 4 years since we were under 3k dollars, which means we haven't seen anything under 3k for a while but we didn't know about it when we first went over it.

So, maybe right now we have something like that again, or maybe we do not who knows. Last year in march of 2020 we have reached under 4k again for the last time, after that we have never seen that, and for a looong time now we haven't seen under 5k or 6k or even 10k dollars, I can keep going but it stops at around 20k because thats like just 8 months ago or so. It means maaaybe we reached the previous bottom and will never see that again but nobody realizes that, it is a very valuable and optimistic information.

It is very unreasonable for me personally to speculate about some absolute bottom at a time when one man with one of his posts knocks down the price by as much as $10 000 - and to say that the price can't go lower than $45k or maybe $40k is in the same category as your speculation proved inaccurate in just a few days. You also ignore the OP asking for a period of as much as 5 years, and no one can know what will happen in the next 5 days - the biggest FUD master can announce the news that he has sold $1.5 billion worth of BTC - and I don't see how that wouldn't result in breaking your absolute bottom.

that would make bitcoin a pump and dump.
what happens is that bitcoin has rises that are sometimes followed by a correction. there are also times like this that people panic sell and drop the price lower than the bottom of the correction.
the thing you are referring to only happens in cases of gigantic bubbles like if price had reached $0.5 million.

Failed forever???
You must have not seen a bear market before.


Anyway I think we're pretty much at the bottom now. I don't see a crypto winter coming, well maybe for all these pumped up useless altcoins, but not for Bitcoin. I think this is the case precisely because I believe Bitcoin has already been bottoming out the past 3 months, and will maybe continue to do so for another month or two. So I'd say $45k is roughly the absolute bottom, or maybe $40k just to be safe in case there is another massive round of FUD in the near future while Bitcoin is still low. I had another thread in which I said we'll never go under $50k again, basically it seems likely I was just about $5000 (or maybe $10,000) off in that statement.

All the Musk, energy, tether, bans, taxes, regulations, "bull market over", "bitcoin is old and slow", ponzi, bubble, pumping shitcoins, Grayscale, ethereum flippening, etc FUD in the world the past couple of months hasn't been able to drop the price below $45k, even while on-chain metrics say long term holders have been strong net sellers the past few months (though this just recently switched from negative to positive which of course is bullish and could signal Bitcoin will soon be coming off this $45k-$50k bottom). $40,000s seems to be the bottom unless the FUDsters and market manipulators can come up with something really extreme in the very near future.

I would rather say it is a cycle in which bitcoin will go up at a high level and return to spin at the lowest level.
who will be stuck at the very high price and who will be lucky to buy at the lowest price. because the concept of marketing in a business like that, if it keeps on rising, fear that no one can have it and it falls at the lowest level, because there are no more buyers.

Exactly, that's what I don't get with these people, getting scared that bitcoin is going down a double digit percentage and forgetting that the dip that bitcoin was the one they were wishing for back when it was still around the 4 digit prices. Absolute bottom in my opinion can only be confirmed after it has happened.

I don't want to speculate on the bottom of Bitcoin but if Bitcoin would keep on dipping it is OK so buy more, but I think this is just a correction or whales are doing it again, well let's not get negative on this dip because many holders really know what to do in this kind of situation, buy on the dip and sell on the rise of the value,

But if this is because of the weak hand that is selling then let's just be OK with it and buy more let's look at this dip as a chance to buy more.

OP, absolute bottom? It was ZERO. Hahaha. It’s not going back there again, but if you want the “absolute bottom” for the next bear cycle, we don’t know. Why? Because we don’t know the “absolute peak” for the current bull cycle. Bitcoin has just finished maybe HALF of the current bull cycle.



If peak is $500,000, absolute bottom would be double your absolute bottom.