Are we at the bottom? no one knows, but market is doing fine. - page 3.

virasog

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Quote from: CryptoHeadlineNews on August 04, 2022, 03:14:40 PM

Quote from: Queentoshi on August 04, 2022, 10:44:47 AM

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

You have a point here, but in as much as 1 Bitcoin remains 1 Bitcoin and yet it's value is still given with respect to dollar, people will always continue to be worried, because unless all items were sold in Bitcoin, then no one would have worry any longer, because the only thing that would have been required is a certain amount of BTC to purchase your item. But for the fact that Bitcoin is been valued to dollar people will always complain because what $30,000/ BTC can buy, $20,000/BTC can not buy.. So for me, I'm happy to always see the price of Bitcoin rise

We would be able to quit comparing bitcoin to fiat currency like the dollar when either the fiat currencies are obsolete and/or no longer used or US dollar has become so weak that its value does not matter. Until that time people will always calculate bitcoin valuation in terms of dollars and we will be finding the tops and the bottoms in every market cycle.

Oceat

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You can't see the bull market coming yet since it's already over a year ago and we are in a bear market. AFAIK bull market only come when it's done halving and that's every four years and usually the bull market will trigger after but it takes more months before it pump which looks like a trigger of FOMO. And if you want to know when is the bottom? That question has been asked a thousand times here and the most common answer you will get is "no one knows" and it's true since no one actually know when it would happen but if you are in this market for a long time, will know when or what is the bottom price then but not really accurate although it's close to their prediction.

Hypnosis00

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Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything.

Not that is what I see. I even think that we're done already, in fact, as you can the price of Bitcoin becomes stable above $20k for a couple of weeks which means that we are leaving the bottom already which is $18k (not the exact price). I don't think those "many " as you have mentioned are certainly aware of the situation or just making their speculation based on the wrong information.

The market is already fine. However, you can also think that many factors that could affect the momentum and possibly change the trend from time to time. So I suggest for you OP to keep calm and easy.

hatshepsut93

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Those problems don't really need to be resolved for Bitcoin to grow. The relationship between them is not a direct one. Negative economic events affect Bitcoin in short-term, but eventually Bitcoin decouples from it. Bitcoin had one of its most devastating crashes on the start of COVID pandemic, but a few months after that it recovered and started showing growth, while the global economy struggled from supply chain disruptions and quarantines.

STT

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Ultimately finding a low price around here, establishing support and rising later will be a positive . Because the foundations are still setting and uncertain it doesnt appear to be much of a positive just yet, its very unclear. On the daily bars there is a set of higher lows, even looking back a month I could conclude BTC is doing quite well considering we dont have the best enviroment for gains right now.

cryptomaniac_xxx

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Quote from: CryptoHeadlineNews on August 04, 2022, 03:14:40 PM

Quote from: Queentoshi on August 04, 2022, 10:44:47 AM

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

You have a point here, but in as much as 1 Bitcoin remains 1 Bitcoin and yet it's value is still given with respect to dollar, people will always continue to be worried, because unless all items were sold in Bitcoin, then no one would have worry any longer, because the only thing that would have been required is a certain amount of BTC to purchase your item. But for the fact that Bitcoin is been valued to dollar people will always complain because what $30,000/ BTC can buy, $20,000/BTC can not buy.. So for me, I'm happy to always see the price of Bitcoin rise

I guess it's really up to us on how we see bitcoin, as you have said, most of us there see is as 1 BTC=1 BTC others pertain it on USD value. As far as the bottom, we might have hit it already, but there are still some arguments and this is based on previous all time lows, that it has to reach -80% or higher to call that that we have hit the bottom. So far that is not yet satisfied. So maybe we will see another nose dive next year and that might be the final, before a leg up and then eventual bull run in 2024-2025.

_BlackStar

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One unique fact that may be overlooked more often due to the luxury of bitcoin pricing is that bitcoin is still an experimental currency. This can mean that bitcoin is still in a potentially good or even bad stage of development so that whatever may happen in the future for bitcoin cannot be predicted with accuracy.

Quote

Bitcoin is an experimental new currency that is in active development. Each improvement makes Bitcoin more appealing but also reveals new challenges as Bitcoin adoption grows. During these growing pains you might encounter increased fees, slower confirmations, or even more severe issues. Be prepared for problems and consult a technical expert before making any major investments, but keep in mind that nobody can predict Bitcoin's future.^source

After all, price volatility is still a mystery whether it will be able to maintain its price above thousands or tens of thousands of dollars or maybe not, but because of the high interest there is confidence that it will be maintained.

The market is fine for traders as far as they can profit from price volatility but I can't confirm that we are now at the bottom while we know there are other possibilities that could cause it to down deeper. Consider any risk you have to invest in an amount you can afford to lose, which means you may have to sell immediately if you can't accept the risk.

coolcoinz

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Quote from: CryptoHeadlineNews on August 04, 2022, 03:14:40 PM

You have a point here, but in as much as 1 Bitcoin remains 1 Bitcoin and yet it's value is still given with respect to dollar,

Don't mix value with price. Bitcoin is priced in dollar but it can still be under or overvalued. IMO it's currently undervalued and when it fell into depression of ~18k it was largely undervalued.

Quote

people will always continue to be worried, because unless all items were sold in Bitcoin, then no one would have worry any longer,

Items are bought and sold around the world for various currencies that are exchangeable for other, yet nobody worries that they sold a car for EUR, but if the buyer agreed to close the deal in USD they would've earned more.

My advice: don't worry about these things! You can't make the best deal in the world. There will always be something better and more valuable you could've bought for the same amount of money in USD, bitcoin, or any other currency.

CryptoHeadlineNews

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Quote from: Queentoshi on August 04, 2022, 10:44:47 AM

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

You have a point here, but in as much as 1 Bitcoin remains 1 Bitcoin and yet it's value is still given with respect to dollar, people will always continue to be worried, because unless all items were sold in Bitcoin, then no one would have worry any longer, because the only thing that would have been required is a certain amount of BTC to purchase your item. But for the fact that Bitcoin is been valued to dollar people will always complain because what $30,000/ BTC can buy, $20,000/BTC can not buy.. So for me, I'm happy to always see the price of Bitcoin rise

jossiel

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Quote from: feeling sound on August 03, 2022, 11:20:52 PM

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

I don't have a clue.

But with the hope that everything is gonna be fine is what I've got. All of these things that are currently happening, I'm thinking that they shall pass anytime soon.

With those events that I think that won't impact that much for bitcoin since its volatility will have its effect whether we have those global issues or none.

Yeah, the market is fine as it was up from the likely of bottom that we've seen around $17k.

Fortify

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Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything.

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

We might allrdy be in recession.

Inflation is still here.

War in Ukraine continue to have an impact on energy and food price.

Feds made it clear that Interest rates will be raised more and more until inflation is under control.

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

It's hard to tell what you are describing because most people refer to stocks when talking about "the market". Funnily enough stocks are still going very strong even though there are all these recession warnings around, which is the opposite of bitcoin that took a huge slump recently but is slowly regaining ground. You have to consider that crypto is extremely high risk, so the moment things start dipping, everyone is in a stampede for the week exit and it takes a long time to regain trust. You also have to consider that it's getting a lot more expensive to borrow so people don't have cheap money available now to "invest"

AakZaki

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Quote from: Queentoshi on August 04, 2022, 10:44:47 AM

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

if you already have a clear goal there is nothing to worry about, 1 btc is still 1 btc. the long term will provide more profit and focus on higher prices than currently. you have the right thoughts about how you can direct your focus in a better direction than having to worry about market bottoms. market bottom is an opportunity to add bitcoin assets.

Amicable55

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I believe that we are at bottom stage. Market is moving forward and backwards slowly but it already touches a new loer round about 17K$ and may be touch a new lower. As we see to move upwards in next coming months. My opinion is that our bottom stage will be ending soon.

kryptqnick

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The price has been around 15% higher over the last week than it has been throughout June and most of July, so it might be that we're on a slow way toward recovery. Of course, that's not guaranteed, as the stability around $23k hasn't been out here for long, and even after periods of long stability the price can drop significantly if some very fud-generating event occurs.
But I wouldn't say that the market's acting 'surprisingly fine' as the op put it because Bitcoin has no reason to suffer when traditional markets are going down or top fiat is devaluating faster than usual.

ethereumhunter

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Quote from: Queentoshi on August 04, 2022, 10:44:47 AM

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

Yes, the market is doing well and is still moving up and down. 1 btc will also remain 1 btc but the price has changed. But we will never know when the price will bottom out and we will only know once the price starts rising sharply and continues to increase to form the next high or ATH. We just need to concentrate on collecting bitcoin and fiat and if the price gap continues, meaning the price is still up and down, it can give us an opportunity to buy low and sell high.

Doan9269

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Quote from: feeling sound on August 03, 2022, 11:20:52 PM

How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything

what else fo you expect, panic ? or fear of uncertainties? i believe these are what comes out from investing on other cryptocurrencies than bitcoin but whenever there's high volatility in bitcoin price, it calls for readjustment away from other cryptos

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

I don't think these have anything to do with the bottomless or rise in bitcoin price, they are economy factors that bitcoin price doesn't consider to operate it price network

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

We might allrdy be in recession.

Inflation is still here.

we aren't in recession but inflation is already ongoing

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

do you want to run on a garbage in and garbage out system? if no then we need patience and time to allow this bear season to go in order to enjoy the bull one longer as well.

darkangel11

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Quote from: feeling sound on August 03, 2022, 11:20:52 PM

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

I don't know if it ignores and will ignore bad news from now on, but I'm 100% sure it is undervalued. Any asset that falls 70% from its high without any fundamental problems, is undervalued. What if you held stock of a company and there was nothing going on with that company and knew the only reason the stock is going down is because the US is trying to pump the dollar and the global economy in trouble, would that make you sell at a loss or consider the stock undervalued.

I see it in black and white. A stock is having problems because of fundamental reasons like a threat of bankruptcy, or the company is doing something shady - I sell. It's not having any problems but losing value because fiat money is gaining or people are selling because they don't know what's going on, if they'll be able to pay their bills next year - I don't sell.

Taskford

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Quote from: Queentoshi on August 04, 2022, 10:44:47 AM

Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

Before you concentrate for getting more for sure you will think about spotting the possible deepest price reached by bitcoin, but its really hard to see this because knowing that all what we like sometimes didn't come to reality that's why its important to focus on accumulating while market volatility is so movy when the time you are doing your trades.

Queentoshi

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Quote from: feeling sound on August 03, 2022, 11:20:52 PM

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

Wiwo

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Quote from: franky1 on August 04, 2022, 01:10:10 AM

why is it that people think that bitcoins price when it was the AllTimeHigh felt to them/deemed that price was the sustainable 'value' price where the correction(they call crash) is felt as negative

and yet when fuel prices go up they cry that the price should come down.

The answer is simple, people think and take Bitcoin as some bubble and intent to keep blowing up in price at whatever price they buy it. People care about their investment and returns the same way they care about the price of fuel and can even make protests to kick against fuel increases. But the fact should be, people should view Bitcoin with the right perspective and positive mindset having in mind that Bitcoin is a speculative asset and a lot of factors contribute to its price movement and that is why Bitcoin is referred to as one of the most volatile assets on the exchange market.

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