BITCOIN AT 63K. What should we expect moving forward?

GreatArkansas

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

It's really difficult to say it especially since we already fell below $60,000 recently and just bounced up to $65,000.

So for me, it's better to wait again. If we break $70,000. I can say we will able to create a new all-time high if below $60,000 first, that's difficult.

poodle63

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i guess don't get too much hopes in this month probably until late third quarter of this year, we're still trying hard to keep the price above $60k even now.

the ETF approval of hongkong which deemed disappointing by some people despite instead the news of ETF hongkong released at the same time with price decling it doesn't mean that its a bad thing, instead it iwll helkp strengthen the foundation of BTC reaching the newer highs.
probably i'd just try to buy the dips at this price, no time better to invest than when there's sudden flash dump and also might as well try to wait until end of the year and see how much the price has changed.
i'm pretty confident with my portfolio right now, there's only one way for accumulation of wealth and that is buying bitcoin more and more.

rodskee

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions.

we all woke up with this high price from bitcoin in which I believe something that we are not expecting
and yeah we are all excited .

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Is the retracment over?

not sure but Hoping ti is over because we have been seeing the market moving differently from
what we are expecting.

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Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

we are expecting this to happen this year but I don't think it will come any time soon?

aoluain

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Quote from: darkangel11 on May 04, 2024, 03:08:59 PM

Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions.

Really? Are you excited by bitcoin being 10% down from its ATH? Is that it? I see it as a day like any other, but maybe for some people, specially those who bought in the recent dip at 58k it's something to celebrate.

Quote

I would be with Iamcrypticguy on the outlook and generally of a view of the
'Glass half full". I would rather see the market rise than fall further from where it was.

It might be 10% down on the ATH but its now about 8% closer than it was before this
thread.

Quote from: mich on May 05, 2024, 03:40:39 AM

Well we do not know where the price of Bitcoin is going to go to. Bitcoin price of 63k is not a price I did think it would be after the halving we just did.
But this is not something we need to be concerned for. I do think we are still going to see a big 'bull run' before the end of the year. I do not think we are going to see price of 100k for each Bitcoin but the new all time high I think will happen.

The previous halvings showed that directly after the event the market falls and then
recovers to break the ATH. I expected this to happen which I'm sure others did too.

mich

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Well we do not know where the price of Bitcoin is going to go to. Bitcoin price of 63k is not a price I did think it would be after the halving we just did.
But this is not something we need to be concerned for. I do think we are still going to see a big 'bull run' before the end of the year. I do not think we are going to see price of 100k for each Bitcoin but the new all time high I think will happen.

BALIK

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No one knows whether bitcoin will continue to rise or fall again, and expectations will vary depending on each investor.

Right now, what I'm seeing is a faction that is expecting bitcoin to continue to move higher, and it's not too difficult to predict that these people have bought bitcoin at a higher price or they've bought enough bitcoin for themselves. Meanwhile, one side still expects bitcoin to plummet to $40,000 again so they can accumulate a large amount of bitcoin at a cheaper price.

It can be seen that the bulls and bears are still fighting fiercely, which side you choose depends on your investment portfolio. For me, I expect bitcoin to continue its recovery and enter its biggest bull run ever.

STT

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63k is only the first rung on the ladder and we're holding on with one hand still, its easy to slip at this point. The negative decline remains intact until proven otherwise, we are above the weekly average so perhaps it is fair to say what now a new ATH but I think we have battles ahead still.

67.3k is the next point to overcome, reason being it is the lower high in a series of descent and we have to break the pattern to decide we are able to make a new one, a bullish move. The most simple rule is we are set to repeat what we have already started so I only mean to assume that much.

Slow death

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in my opinion the price could continue to rise up to $71,000 - $73,000 if there is no bad news like the bad news we had about the war in Iran and Israel and then the news came about the arrest of the founder of Binance which in a certain way way was no longer big news, but people still thought that he could reach some agreement that wouldn't lead to prison, so the news that he was sentenced to 4 months in prison made people get very scared and started to panic selling for a few days until they realize they have no reason to be worried

looking at the daily chart, in my opinion the price is stagnant in that zone of 60,000$ - 73,000$, it may have dropped for a few short days below 60,000$, but it immediately recovered, but it will not go above 73,000$ anytime soon, it will remain in this zone of $60,000 - $73,000 for some time, if we had a scenario ready to break $73,000 we would be seeing the price rising very quickly, but what I am seeing is that it quickly recovered and is rising little by little and will remain stuck in this $60,000 - $73,000 zone for a long time

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Quote from: HideYourKeys on May 04, 2024, 03:09:50 PM

After the latest news related to the FED meeting, and having US elections by the end of the year, I guess it is quite likely to go up during the next months

it may seem like a quick bounce but we were actually going down for several weeks since 70k +. i couldn't really say we are going back up to $70k again. but that FED meeting does set up the stage because no hike was announced.

if we go straight to win big and break that resistance in 74k i guess the halving is taking effect already and it's breaking the golden ratio rule. i like it when it hits those who expect a lower price and then suddenly leave them behind. Grin

Yatsan

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Not so fast.
The volume and demand aren't that high to support a continuous price increase so I guess another correction may take place. Mid to high volatility can be observed in the market right now and I am choosing to wait for further market confirmation. If its market value will be able to break $64.7k today, then there's a chance for its price to continue reaching $70k mark once again. It is still too early for bullrun to happen because its just been weeks after the halving. Investors basically took profit of their holdings which triggered a deep decline on its market value. Chances are high that it will be able to recover but if it is surpassing the ATH this month, is still not possible at this moment.

HideYourKeys

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After the latest news related to the FED meeting, and having US elections by the end of the year, I guess it is quite likely to go up during the next months

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions.

Really? Are you excited by bitcoin being 10% down from its ATH? Is that it? I see it as a day like any other, but maybe for some people, specially those who bought in the recent dip at 58k it's something to celebrate.

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Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Will that make you buy? Let's say it's over, will you go all in right now because of that? It might be over for now, but it doesn't mean you'll see a new ATH this year.
What if it's not? Will you sell all your bitcoin? What if it's not over, it will go down to 55k and then jump back to $70k? Will you catch that dip?
IMO both your answers to these questions are no. Wink

AnonBitCoiner

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Price will fluctuate like this so think about your profit instead of examining the market for its past or future. In previous Halving every one was benefited but those people work according to their knowledge while currently people are using greed more than their knowledge and are facing troubles.

We have no knowledge about whether the correction ends or not and also we don't know if the price will touch another ATH or not in the current year but we are assuming that next year will show better than the current year as we will see boosting months in 2025.

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

no one can predict the direction of the market or the price of bitcoin in the future, therefore we have to be smart and clever in looking for information about bitcoin in order to minimize our losses, if you look at the history of the price of bitcoin from when it was first created until now the price is very far away, this one This means that Bitcoin is widely trusted by investors, where the price of Bitcoin tends to rise every year.

If we intend to invest in the long term, this might reduce our level of worry about Bitcoin itself, why is that? because from the start we intended to make a long-term investment, we may not see the price of bitcoin go up or down every day.

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Quote from: Kelward on May 04, 2024, 08:02:15 AM

Most Bitcoin price observers were speculating a price dip after the halving, but they never expected this much dip, especially since Bitcoin started being bullish after the ETF approval

I mean no one expected for bitcoin to set a new all time high a little before halving but it did so now honestly who knows what comes next? The only thing we should expect from the market is that it is truly unexpected.

Do not expect a specific thing and then get so anxious when it doesn’t happen. No could possibly predict the movement of bitcoin accurately.

Gaza13

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Quote from: headingnorth on May 04, 2024, 04:07:46 AM

The biggest problem is Grayscale which still has around 300K bitcoins left.

When they run out of BTC to sell the price can really start to take off again.

When they sell all their assets, of course the price of bitcoin will have an impact on decreasing. of course everyone here is ready to accommodate if prices experience a big drop. I think They are not that stupid to sell all their bitcoin assets.

Quote from: peter0425 on May 04, 2024, 05:30:27 AM

If the price declines again, consider me the happiest man alive. I feel like I was not able to completely take advantage of the dip. I wishI could have accumulated more and I could have done that if I had more money so hopefully I get to save more money just right before the market goes on quite a recline once again. I will then use the opportunity to buy some more bitcoin.

What you say is correct, we don't need to panic if we see prices going down. There are many elites out there who really believe in this one asset, and they continue to accumulate assets without looking at the price, why can't we? We have to look like the big guys out there who keep collecting bitcoins every month. Indeed, the current price seems very expensive for some people, but I don't think so, I will continue to accumulate as much as possible. I am sure I will reach a new ATH in the future.

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

I don't think the current price bounce is a dead bounce because it occurs because there are still people who are willing to buy at the current price or before the price returns to $60K. So I still believe that another ATH could happen again if the Bitcoin price continues to move upwards from now on because this is still not over. So you don't need to withdraw from Bitcoin if you still want to aim for more profits or more Bitcoin in order to keep it as an asset for the future. Now throw away your skepticism and continue to believe in Bitcoin because it will not disappoint you in the future.

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Quote from: TravelMug on May 04, 2024, 03:19:18 AM

Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

We don't know if the retracement is over for now, but I do agree that it's good to see the price goes back to $63k after a dump to $57k. But that's how the market is, very volatile and most of the time when we expect that it will go on this path, suddenly it goes on the opposite direction. And maybe after 2 weeks from the block halving, we might have seen the glimpse of what the movement will be in the future. So yeah, we should be glad to see that it has bounce back, and hopefully during the time that it went down, majority here could have accumulate and take that opportunity to stash some Bitcoin at $57k'ish.

No ones cannot tell accurately whether there’s more retracement coming or it ended up at $57k, but one thing is certain, the next couple of months will still be a roller coaster ride before we will hit with the new ATH price. That is already anticipated by majority, so all we have to do is to prepare ourselves.

However, it’s also good to speculate if the current price will follow an upward movement consistently, which means we will come to witness more than $70k this time as everyone is expected. That is, if price correction will not be worst this time, and things will work out according to plan.

aoluain

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Quote from: YOSHIE on May 04, 2024, 08:47:21 AM

Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

The crypto market is currently not good, so whatever you want to do with crypto, especially Bitcoin, you need to think carefully, as much additional information as possible is really needed in the current situation.

You need to know that Bitcoin has now passed a new ATH and halving, so many experts and investors are having difficulty guessing the direction of Bitcoin's development at this time, but many people are speculating and predicting Bitcoin for some time may be one or the other the next two years there is no further movement after what has happened, as you mentioned $63k or $70k, overall the downward direction is most likely, but experts do not say how much.

Honestly, for me the best step to take right now is trading, I see many people don't think about the new ATH anymore, they take advantage and follow the current crypto market movements, to get good results in the crypto world.

Yea as ever its a great time for traders but not everyone has the knowledge or time
to make trades but buying the dips in a bull market should always pay off really.
Fortunately I was able to buy at just below $58k.

The rise to $63k is just a sign to me that we are in the post halving bull market and
should be doing so for the next 10 to 12 months, that means rising....with pull
backs along the way just like we had recently. These are perfect conditions for traders.

YOSHIE

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Quote from: Iamcrypticguy on May 04, 2024, 12:55:52 AM

Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

The crypto market is currently not good, so whatever you want to do with crypto, especially Bitcoin, you need to think carefully, as much additional information as possible is really needed in the current situation.

You need to know that Bitcoin has now passed a new ATH and halving, so many experts and investors are having difficulty guessing the direction of Bitcoin's development at this time, but many people are speculating and predicting Bitcoin for some time may be one or the other the next two years there is no further movement after what has happened, as you mentioned $63k or $70k, overall the downward direction is most likely, but experts do not say how much.

Honestly, for me the best step to take right now is trading, I see many people don't think about the new ATH anymore, they take advantage and follow the current crypto market movements, to get good results in the crypto world.

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