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Topic: Any chance to fall below $30k bitcoin ? (Read 125 times)

tabas

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Any chance to fall below $30k bitcoin ?

Definitely.
Just always think of volatility that can pull the price down to the lowest that you can ever imagine. This is just a mindsetting so that you won't frustrate yourself if you ever have that high expectation and it didn't happen. And even talking about reality, $30k is still a price that's swinging and lower than it is not going to be a surprise if the price moves downwards. Until we see a major pump that shall move Bitcoin's price away from it and we're not seeing it for a very long time, that's how the confidence should one have on checking this market.

Nrcewker

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Quote from: Researchoo on July 02, 2023, 05:10:32 PM

what do you think about bitcoin price ?

My way of thinking doesn’t affect the price to be honest. You need to understand mate, when generally the price falls down or goes up. Unlike any asset, Bitcoin follows the traditional supply and demand method. If the demand to acquire Bitcoins is less and supply is sufficient, then price will automatically go down. If demand is high and supply is limited, then the price goes up to meet the demand. So in order to know whether the price will fall below 30k usd or not, you can easily find out by going to any exchange and see the sell orders and buy orders.

Adbitco

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There's every possibility and chances to go below 30k nevertheless, the market is so unpredictable and anything could happen. Moreover is being driven by news, currently the market is above 30k and there is a resistance this could be the possibility of much selling pressure. Whenever there's a low buying pressure we often see the price to remain in particular price level for a long period. For instance, btc has been maintaining between price of $30k to $31k since from June 27 to July 3, meaning it could be break out any moment from now to 33k above.

inthelongrun

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My mind says that we might head to $35k or even $40k before another huge correction. I am still confident that bitcoin will touch $25k once again though. I haven't made my June DCA because I was busy. So now my DCA will temporarily stop as I will try to wait for a major pullback to $25k.

Anyways, it would be safer for you OP to start your own DCA. We may never know if the price we are waiting for won't happen so it's better to purchase regularly when bitcoin is either up or down. You can do it weekly or monthly depending on your capital. I am doing it monthly although there are times when I did it weekly depending on the situation too as we have our own analysis bias.

Bureau

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I feel it won't fall below 30k as one of the ETF's submitted to SEC would get approved. It is only matter of days or months, most probably the market would be waiting for a positive news. When it happens a short bull run is expected. If the ETF's do not get approved still the maket will remain the same.

Freddie Boyer

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From the point of view of Market Volatility for the Price of Bitcoin there is always the possibility that the price decline could be slow and set or sudden due to various factors such as regulatory changes, macroeconomic events or security issues. However, if we look at today's market it seems that there is a decline but not as deep as some time ago and it seems that Altcoin growth is starting to show its action.

flyingcarpet

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Quote from: adaseb on July 02, 2023, 11:33:11 PM

$30K is very close to the current price, so there is a very good chance it can still break it. I would say $20K is a better question if it’s ever breached again.

The market is so illiquid now that some minor news report can send it dropping 5-10% easily. So the $30k can easily be taken out. Usually in the summer liquidity is very poor even with stocks. Hence these boring days we’ve been having.

At the 30k level, he set up good ground. I can't be too sure though. There is a possibility that it will drop with a news coming from the SEC. There are also efforts by investors to keep it at 30k and they have been able to hold it for a while. I don't think there will be many sales for Bitcoin in this period. If there is no big negative news, I think it will continue at these levels for a little longer.

I don't like stagnation in the summer. Usually people sell bitcoin to go on vacation, but this is on a small scale in volume. They generally want the market to remain calm during the summer months. It happens this way too. Let's see how this summer goes.

Faisal2202

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Quote from: Nwada001 on July 02, 2023, 05:19:41 PM

There is every possibility of it dropping below $30k; all that's needed is one bad move, and it could be seen at $28k–$29k. If the SEC comes back with another bomb or any bad news from any large community that has a great influence on some citizens, then we can see a price drop before the market will correct itself back to where it should be.

There is also a possibility that we can see more in price in times to come. Since the price has been regulating at the $30k level, it's just sitting there waiting for it to go up or drop more. I really can't predict whether any of those things will happen.

Agreed, it's hard to predict the market when governments and institutes are making bold moves that are unpredictable by anyone. All we can do is remain more careful and always do DCA if wants to get benefit from the market. My personal thoughts are the same the market might try to touch $40k or maybe after some correction.

Plus, it also depends on the company's EFTs approval if they got accepted them we can see a surge otherwise things might not go as expected.

And for the OP, i think yeah BTC might come below $30k and it is not some die-hard support line that BTC cannot break like the support line of $10k back in the year when BT touched $16k. So yeah the chances are high so prepare accordingly but never hold back always try to look at the positive side too (like how much chance are there for the market to go $40k or maybe $50k).

adaseb

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$30K is very close to the current price, so there is a very good chance it can still break it. I would say $20K is a better question if it’s ever breached again.

The market is so illiquid now that some minor news report can send it dropping 5-10% easily. So the $30k can easily be taken out. Usually in the summer liquidity is very poor even with stocks. Hence these boring days we’ve been having.

michellee

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The opportunity to fall below $30k is there but we can't say that for sure because the current condition of the Bitcoin price is still fluctuating. And now, the Bitcoin price is increasing again after yesterday's correction so we expect the Bitcoin price to continue to rise to more than $ 31k or even more than that price.

But if the price of Bitcoin goes down again, it doesn't matter because we benefit from buying at low prices. And if the opposite happens where the price keeps increasing, we can't expect to buy Bitcoin at the low price again but adjust to the current price.

And whatever the price of Bitcoin, before it goes up, we can buy it and hold it until it goes past yesterday's ATH price. If the Bitcoin price falls below $30k, I don't see it as the end of the Bitcoin journey but instead, I think it is a good time to accumulate more Bitcoins.

LogitechMouse

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Quote from: Researchoo on July 02, 2023, 05:10:32 PM

what do you think about bitcoin price ?

Why are you asking? For research purposes? For your ponzi scheme.
Just kidding. I just saw your IGN that's why I said that.

Anyway to answer your question. With how unpredictable, and volatile the crypto market is, there's always a chance that it will go below $30,000. The good thing though is that, it has been above $30,000 for nearly 2 weeks now. The last time it went below $30,000 was on the 30th of June, but it didn't last long meaning there are many buyers at the $30,000 price level, and that's a good sign knowing that the $30,000 is now the psychological support.

On the other hand, a negative news can always put the price of Bitcoin go down. Well, it depends still, but we've seen Bitcoin's price going down when FTX issue came up, and so with Binance. One negative news alone can have a significant impact on the market. As for the Bitcoin price, for this month as long as there are no bad news happening, or any news that will affect the market significantly, I think that Bitcoin will remain above $30,000, and it's price will increase gradually.

peter0425

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Quote from: Researchoo on July 02, 2023, 05:10:32 PM

what do you think about bitcoin price ?

if you are pointing about before halving ? then indeed it may drop bellow 30k again as we can see , there are no complete strong hold at this position we are still at 30k and did not climb any higher than 31k .
so how can we assume that there will be a staying at least at above 30k and expect to lowering in the next couple of months before Halving happens.

Hyphen(-)

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The instability of the Bitcoin market makes it unpredictable, and with such news as the SEC and others, I believe the price will fall below $30,000.

We hope that the price continues to rise, as we are already in the third quarter of this year 2022, and the price of Bitcoin is still 55% below its all-time high.

serjent05

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We all know that Bitcoin price is highly volatile so the question is whether there is a chance for the price of Bitcoin to fall below $30k can be answered by yes, it is possible. Many holders according to one article I read ( I forgot the link where i read that) say that $30k is seen as a good price to liquidate Bitcoin for profit. Maybe it can happen since we all know that there are many people that are into a short term investment while others wanted to manipulate the market by shorting the market especially when they have huge amounts of bitcoin holdings, then rebuy on the crash exiting with a good profit in hand while reaccumulated the amount they used to manipulate the price of Bitcoin.

But of course, there is also a possibility that Bitcoin will continue to surge. In price speculation, there is always this thing we called possibility.

Nwada001

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There is every possibility of it dropping below $30k; all that's needed is one bad move, and it could be seen at $28k–$29k. If the SEC comes back with another bomb or any bad news from any large community that has a great influence on some citizens, then we can see a price drop before the market will correct itself back to where it should be.

There is also a possibility that we can see more in price in times to come. Since the price has been regulating at the $30k level, it's just sitting there waiting for it to go up or drop more. I really can't predict whether any of those things will happen.

Researchoo

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what do you think about bitcoin price ?

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