Topic: Bitcoin found the bottom? (Read 895 times)

That is the smartest thing you can do, I wish I had the monetary capacity to do it, but honestly it is difficult for me to achieve something like that, however, one fights for things to happen in our favor with our work, but it is not easy, but people who have how to buy BTC, I invite them to do it, it is the investment of a lifetime, it is something that they will never regret in life, I see it that way, otherwise I do not know what everyone's plans could be, but BTC is an open door to success.

from what I've Come to notice about the way Bitcoin goes around these prices and goes up at some point causing thought that it's about to go too high and all of a sudden we see some correction, it's just showing that we might likely see this going on for a longer period of time farther than the end of the year. Just not quite long, we saw a DIP towards the $49k point and the week is closing in at $60k with possibility of us seeing Bitcoin showing strength above that $60k that's now a strong feet to go above.

These are just previlages that should be cease if the resource is available because the way I'm looking at it, after we go past this volatility between $45k to $70k, the next thing we will likely see will be post $100k and then this prices will never reflect again. Those that have the resource to buy in bulk at this period will be the ones that will benefit more from this range of seemingly stability in Bitcoin price.

The price of bitcoin and some altcoins also showed good movements in the last week after the price dropped at $ 49K. But that's right, as expert and professional as I am to ensure the price accurately, I think there is no one until now, only predictions are expressed in the future and in the future.

What's on my mind right now, whether I or others, if I still have more funds and want to invest again, it's better to put it in big coins that have been proven to rise quickly like a few years ago.

Reality is no one can tell that it could be the bottom or the highest btc price. I think we all know that. We can only speculate or make an educated guess, and all of them may come into possibility or not.

Right now, btc is priced at $60k, and we can't be certain what would be its next move, it could bound to its deepest dip or may reach its sudden all time high. Everything just seems uncertain for bitcoin.

It did actually break into $59,700, I think this is very critical to see and break that $60,000 barrier because if we did, then outlook is good for the rest of the month. So let's see if we can have this final push, although it's weekend already and we all know that traders and investors might take a rest this weekend. Nevertheless it's finally good to see that the price have rebounded so well as we are now in the positive.


It we could build a momentum then yes, this September might turn out to be positive. As in the past, this month is very slow as well, but hopefully it will turn out differently and it could be the start of the rally that we all have been waiting for to $70,000.

Bitcoin is trying to break $60k again, I'm watching it and I hope it can last longer at the current price level of $59.9k, maybe it just needs a few more pushes and we will be back, then investors will be more confident in bitcoin in mid-September.

But if this is rejected maybe we will return to $56k to make a harder support to go up, but at the moment it is quite upset because it only needs a little push to get back to a much wider positive path regarding bitcoin.

Watch this price action right now, BTC trying to break up past 59.4k is very good only if it holds for 4hr bar then daily and ideally above this measure for the weekly close on Sunday.

When we do all those things and keep trending up then its quite fair to become more positive in the outlook for September.  I do think the bigger prices come as part of a build in price, with volume it can take us past 70k hopefully.

It is very true what you say, however when we learn this it is a fact that we will apply the best to be better, sometimes some investors are killed when they buy bitcoin is anxiety, for me that is what affects them the most, personally I think that is a feeling that ultimately makes a negative result, because it makes them sell and then after a short time is when the changes they were waiting for occur, almost all the time it is like that, that is why we must know that in bitcoin we have to have our conviction that it works and that it will always give good results, experience always helps, but conviction in btc is the main thing.

By looking at how we are reacting everyday to price movements, I can say that we can't find the bottom without people getting settled down first, we are acting as if everything is going crazy and that is why I do not think that this matters all that much, we should be careful not to have anything crazy going on.

I understand that it may not be that easy to handle, but this is going to be something that takes a while, so we can't really consider this as that much problematic. I think it's clear that we are going to see this become something that's good, and in the end we can make it work very well, this should be about bitcoin settling down as well. We can consider that the bull is coming soon, until then we can not be sure when the bottom happens, it can move.

I believe new investors have tried to do that. The problem is, they have a different method to approach.

You can't really blame them at all. Don't generalize about their knowledge just because they sold their stash early. I meant, there are various types of investors. And sometimes, there are kind of investors who sell their stash to get back in at the lower price.

You should know that Bitcoin can't find the bottom at $56,500 anymore because it was able to press below $49,000 in August (bottom). Since that happened a month that is close month to the present, we should be referring to that as the main bottom, this is practical on the daily and weekly charts. What we experience now might be a mere correction of the recent bearish impacts that saw the market hit $52,600 last week when the Friday news of the NFP, Average hourly earnings and Unemployment rate in the US badly affected the price of Bitcoin. There is a need for a breath as usual but the overall outlook still looks negative to me, so the market isn't bottoming yet.

With the past experience and skills build in knowledge, the bitcoin investor will be able to make the right choice and less fuds, this is because for some reason we have agreed with the obvious truth that knowledge is the real profits tool that bitcoin investors have, because it's with the knowledge that profits are made and also lack of knowledge will lead an investor into loses also, so the bottom line is that, knowledge is the key for bitcoin investment.

Many times in the past, we have hard some newbies who are mostly referred to as weak hands, and this set of bitcoin investors always rush to sell off they bitcoin whenever there is a drop in the price of bitcoin.

But while the weak hands sell because of lack of knowledge, the knowledgeable investors buy at each point when where bitcoin present a discounted price, best thing first of all is to build knowledge and skills to be able to analyse the market and taking right steps that place you on an advantage all the time.

Seems like 50k is quite the bottom, it has tried to go down under it many times in a row and in almost every single time it bounced back up pretty quickly, so I am not really expecting it to make that much movement here on out from lower. The point is that we should stop trying to go under it, because it's really not that good, we should try to make it go over it. I understand that it may not be crazy good that way, but we could make it happen somehow.

I think the best way to move forward would be something that will take a while, and because of that we should consider that as a good movement. I believe that if we can make this move good, then we shouldn't really have any worries at all, but if it keeps trying to go down, then risks still exists.

Actually a good momentum set of levels presently but BTC is holding itself back at the 58k level.   This is a common point to visit, it was the lows for most of August and relates to Fibonacci levels of the old ATH so its a well known place of significance.

What happens now if Bitcoin cannot break this level like it did at July start is we will decline.   After not beating this level for some time, the price stalls and thats all moving averages really indicate I think that the momentum is no longer there.  At present its a fair bet that BTC can keep rising, however I wont take that view especially till 58k is both beaten and confirmed as some support by any subsequent selling.

Many investors are anticipating that amount of 45k or even below that Price to stock back they offloaded bags at ATH, I have come across a few of those Bitcoin speculators that sold off their entire Bitcoin holdings at the last all time high price and are waiting with both their capital and the profits to reinvest in Bitcoin at the slightest discounted price, some speculate that they buy back when Bitcoin do a 50k price and some other's will wait further to buy at 45k Bitcoin price.


But then no one can rightly predicts what direction the price will go wether upward or downward at this point in time but then we have to be prepared at all time so that we take the best shot when the chance present itself.

I think that since we experience numerous 30% corrections in bear markets with the best year to illustrate that being probably 2017, this is a normal bull market. The fact that people believe we're no longer in bull market after this correction proves the opposite and that the short-term bottom is in.

I like how someone said it in one of the podcasts and I can't recall who that was at the moment, but he basically said that bitcoin was on track to 100k but this year it became political. People think that if Trump wins it will be better for bitcoin, therefore they are fearful of a possible Democratic president.  We have a few months of uncertainty ahead of us and then it's back to bull.

I would not consider new investors who have such thoughts for now because they will definitely find out about the knowledge they need to be able to respond to market conditions more wisely when they have spent money on anything including investing in Bitcoin. New investors will definitely find out about the Bitcoin market cycle and also improve their knowledge better for investment because they also don't want to lose just because of panic or just because they don't have knowledge about the crypto market.

If any of you feel uncertain or fearful you can try my strategy.

I see bitcoin price the way you should see real physical market. You own a rare good and the economy changes and affects it. One year people will have more money, the other year they will have less. One year there will be stimulus, or something will become fashionable and people will want to own it, the other year there will be war, rising fuel prices, inflation... You will not get the same amount of fiat money for your goods every year, or even every month.

You can always choose the moment you buy and sell. Don't sell cheap when the market doesn't want to pay you as much as it should. You can always wait a month or a year and get a better price. At the same time don't buy when it's expensive. Wait until the economy forces people to sell and use that opportunity to buy. Those who can relax and wait will always make money.

Exactly - that's how it should be, but we also understand that not everyone here has the budget to accumulate bitcoin even when the price drops quite deep. Most forum users in some local boards are not those who have an average monthly salary above $500 - it is even possible for them to have a lower salary. In all probability - they must have difficulty accumulating bitcoin even though they realize that now is the best accumulation time.

I believe that many of them are simply holding bitcoin from the payment of signature campaigns - while some could also be maximizing the opportunity if they were to have a budget saved at the end of the month. Such bad inflation makes it difficult for many small investors to accumulate bitcoin - only a few can accumulate.

The bottom that some traders saw was actually below $50k, just a bit below which is right somewhere around $49.000 - $49500. They could be wrong but when they saw that dip in the first week of Aug it plunged that price for a while and then back up again to $64000.

The market hasn't broken that ATH since March this year leading them to believe the price has to bottom back up to resume the momentum of the bull season and they figured that $49k will be the final price before going up again. But if it falls below $49k then we are going back to bear market by then.

New investors should aim to maximize profit potential and minimize risk through at least one market cycle.
Despite the current market conditions, global factors will affect the price of Bitcoin, and many investors still lack knowledge about the crypto, leading them to sell prematurely.

There are many global fundamentals that will affect the price of bitcoin in the present and future but on the other hand looking at the current conditions whether it is only a small part or more, there is still minimal knowledge about crypto where they will sell their assets in the current conditions. Yes. What needs to be done now as you said above is certainly good and should be applied from now on to continue to take and accumulate ownership of these potential assets at this time.

Regardless of the price of Bitcoin you should buy regularly so that you can own more holdings. I recommend you start with the DCA method in preparation for long term stashing and running a full cycle. Bitcoin price may dips further but it would be too foolish to wait as it is only speculation. I think Bitcoin price is likely to touch another ATH within this year so you should make the right decision and continue buying more aggressively. A new investor should accumulate bitcoins in such a way that he can ride at least one cycle as this increases his chances of profit and reduces the risk.

Well we can not be for sure if we are now at the bottom price of Bitcoin. It does make it feel like we were just at the all time high of Bitcoin price of almost 74k early in the year.

I am still adding Bitcoin to my portfolio at the price and do buy the dip. For me it is a long term hodl. It is how all the crypto investors should think about it.

Just an update look at what I expected based on my analysis I'm correct and it hits my TP at $55k this is how I trade on futures you shouldn't be greedy if I stay long term in long position that's pretty risky the market are keeps wiping out crypto liquidations once its clear we should expect for the price to change trend just like this week.
Well, my position lot is pretty small I just set a 1:2 profit ratio I risk $3 at this position made $6 in profit.
I don't know what price will come next but my guess it will fills the order block at 15minutes TF around $54k and it will bounce back to $55k and $56k area.
If the demand continues and the selling presure is the same we might see the $58k or more again.
I'm not suggesting you to follow me but that's just my own prediction based on the data I collected from Coinglass and what I see on the chart using SMC.

I think that the financial education of the operator has a lot of influence, for me understanding what bitcoin does is crucial, if I see that I don't know what I can do, it is better to be in hod mode, perhaps that is why it is so difficult to be a market speculator, because things are not always clear and that prevents money from being made, for me investing in bitcoin is the best thing to do, in the long term is where results will be seen, in this sense it is always good to rely on logic, and it is clear, if bitcoin goes down, you should buy and if it goes up, then have it there without selling, it is the best.

It is natural for an experienced investor to take advantage of the market volatility. Those investors who are able to forecast very well know that even if the price of Bitcoin falls a bit, Bitcoin will continue in the bullish trend again. Those who collect bitcoins from the dip will be profitable from bitcoins at that time. A big difference between an experienced and an inexperienced investor is that when the price of Bitcoin falls, some get more excited and sell Bitcoin at a lower price. Again those who are able to speculate bitcoins are collecting as many bitcoins as possible at this time. To them, the Bitcoin dip acts as an opportunity. They want the bitcoin dip to last long so they can build a large portfolio in the long run.

Can we really see such a time that bitcoin can ever hit that bottom price that is mention in the ops, I don't think so and for sure we may likely see a more discounted bitcoin price but not up to the amount mentioned in the ops, although we may see such price as 50k BTC price, but nothing below the price at 50k will ever happened and the reason for not downward price of 45,k is the level of the liquidity that is currently available to bitcoin can ever happen, although is not out of reach but not a sure bet at this moment.

Many bitcoin speculators have predicted somewhat downward trend in the coming days, but I believe all that is just by whale expectations and sure it may or may not happen in this period of time, so I suggest that we all hold on to our bitcoin and not to panic with all this fuds and the reason is because after the fuds comes the real reality of bitcoin true value.

We can not predict the bottom of Bitcoin price. Any body that has done that successfully was purely luck and not that he knew that was the bottom. I do not bother to predict the bottom of Bitcoin but continue to buy at anytime that I have money because after predicting a bottom, the price of Bitcoin keep dipping more. The OP thought he found the bottom but the market continues to fall and we saw another bottom at $52,550. This too might not be the last bottom because this is the weekend and nobody knows what will happen when the new week starts. The market might get a panic and the price of Bitcoin continue to fall below $50,000 as some people have predicted previously. Regardless of how bad the market falls, we should not be discouraged to invest in Bitcoin because the price will not stay this low for long.

If I refer to this chart - then I don't think we will go down too deep this month. A reversal from negative to positive is more likely to be expected - but if a correction occurs, then $49K or $50K still seems very strong to be a support.

Below is just a small picture of the weekly TF - but it does not reflect what can happen next. I only hope for a reversal of the trend to be positive - but it is difficult to prevent a correction when the interest rate has not been adjusted. High selling pressure can cause the price to fall again - this should be taken into consideration so that they can do some profitable strategic approaches.

Trend remains down, today is another day its failed to convince otherwise.  Maybe we coast to a full stop at weekly end and then start over a new week positively on Japan open but for now its a damp recovery already falling below the 12hr average with lower volume then it should be.

The closing low at 54.1k seen August 5th and also early July is a foothold but unsteady already crumbling.   We traded up till we got near the 2 day average today then we've backed off and no attempt was made to challenge the falling weekly average.   Theres always tomorrow and in theory weekends are not full volume but it still counts, theres no confidence showing there.

Now my question is, do you think we can tell that it's already the bottom price or not? Because in all honesty, even if the price drops so low, still we won't know that it's already the bottom price of bitcoin. All we have are just pure speculations and guesses, none of us is certain with that.

Bitcoin is still below $55k as of this writing, and maybe there could be more price drops that's going to happen soon, so just prepare your funds instead and start buying again when the current price shows a good opportunity to buy.

I'm not bearish about Bitcoin. Deeper crashes are always a possibility, but I'm still confident Bitcoin can maintain its position above the 50,000$, as it has been already doing since the beginning of 2024. And the more people believe Bitcoin is going down yet, more confident I become it's not going to drop further.

Whales like to play with market's feeling. When everyone is expecting something to happens, whales manipulate the market on the opposite direction. That is how the wealthy minority always make profit over the majority.

At the current situation, forget about news, analysts and specialists. They know nothing, they can tell nothing, and just make us confused by their dubious informations which seem contradictory each new day. It's the whales and institutional investors who are dealing the cards, so try to understand what their strategy is.

Recently, speculating on Bitcoin price is formidable because of its rate in volatility, no price mark can we firmly hold unto as it's bottom, we just live in the market and accept every price change.  

Bitcoin is currently at $54k, in a week or two we cannot tell what will be the price of Bitcoin by then, the whole concept will be for investors taking advantage of the bottom price not undermining if it will still go below what it is or not, purchasing Bitcoin at this point is very much profitable considering we are yet to experience the bullish part of the market where we meet a new ATH.

As you can see I'm right in my own analysis I am already filling the FVG for a small isolated position at 20x leverage and expecting to take the profit at around $55k I'm not greedy so I am not taking more profit than that I just want to exit that I know where it bounces and wait for another opportunity.

However, the volume seems pretty small and Netflow is still negative but it drops from $200m to $100m+ meaning it's not confirmed yet that these days will be positive it's still building positive momentum if we see the price break the 50 MA in 1hr time frame I am expecting to see big demands coming and price surge come next but if it fail then your prediction recently will come.

No. Looking at the daily chart there’s no way 56K can be the bottom immediately. The price is already at 54K level and recently went down to 52K. The closest low price is at 49K which is the potential strong support and good candidate for the bottom price but still there’s no certainty that price will stop there.

Bitcoin doesn’t have any major news that will pump or dump the price to extreme level so I’m assuming that everything is possible since there might be a wild news that can give a huge price impact both ways.

Just use DCA so that you will not trouble yourself on finding the bottom if your goal is just buying at the bottom.

With how the price moves up a little and moves down double, I'm seeing the possibility that it can even lose hold of the $50,000 level. It is becoming possible every day.

In May, the bottom was at $58,000. Two months later, in July, it went lower and hit $55,000. A month later, it went down even lower at below $54,000. Within the month of September, which is usually a bearish month, it could go down much further.

But let's not be surprised by this. This has been the reality. We'll be seeing green in the last quarter, before the year closes.

Predicting the price of Bitcoin is however not an easy task given the nature of the market whereby the prices of most cryptocurrencies including Bitcoin oscillate. The same year when bitcoin rose to $56,000, many analysts said that it will fall significantly but now it did not mean it was true because the market for cryptocurrencies is always volatile. This leads to many repetitive business predictions which majority are incorrect and cannot depict the existing market trends. However, reliance on such scores makes Bitcoin investing to be a long-term prospect devoid of short-term fluctuations which are ever-changing.
 
However, an accumulation plan might be more suitable for the Investors who are using Bitcoin as an investment asset. Instead of waiting for the market price to drop, which is unlikely to happen, investors can simply think about purchasing shares in small amounts over and over again enabling them to amass a good position within a given stock. In this way, the investors are not pinned down to waiting for the right drop to invest, but they get to maximize on the upside of Bitcoin in general. Accumulation tries to lessen the effects of random fluctuations and deals significantly with long-term gain that is possible to deliver steadier gains in Bitcoin investment.

Predicting Bitcoin's next movement is certainly difficult. When Bitcoin reached 56k many thought it was probably a big dip but when it was headed for more dip that prediction failed and they again made another price prediction and continued on. But the bottom line is that if one invests in Bitcoin one must think according to it's potentiality. It is foolish to expect to buy only from dips. As it has no specific location. Maybe Bitcoin will touch 40k and there is a chance to recover from this current price. Accumulation is better suited to investing in Bitcoin than looking for the dips.

That is very bearish for bitcoin and may cause panic for some people who are holding due to excessive fear. But actually if we want to take a slightly larger accumulation approach it would be very profitable in that position. Anything can still happen and may be beyond many people's predictions, especially if the FED does not adjust its interest rates anytime soon and bitcoin will definitely experience harder price pressure that will likely touch $45K to $40K as a resistance step.

There are many ways to collect either using DCA through real-world work results or saving bitcoins from signature campaign results. It is important for someone to have a strategy to run an investment because we know that bitcoin is one of the best investments now and many people are starting to learn to run it.

It's possible that it can go lower that $53k and if I'm not mistaken, this could be the bottom though? But let's see, it looks like the market is on the panic mode right now and investors are selling and could be putting their money on altcoins or any stable coin to top the bleeding.


Not sure if that is a good idea though, might be better just to buy a lot of Bitcoin if it reaches that price. But in any case, it's your decision mate, but hopefully you are right to go long with that huge leverage.

I just hope price doesn't get further down below the $49k you pointed out. Sadly, the Weekly chart from where I made my speculation, is exposing a further fall down to $43,700. I never saw that a few weeks ago. Perhaps it's because I wasn't checking price on the weekly until a few days ago that I did. I don't know what timeframe you've been checking from. Maybe you can check price on weekly too and see how the candles formed, among other things. I don't want price to get there as it will trigger more fear and then exacerbate the situation. But then, we can't tell market what to do. It pushes price wherever it deems fit and price goes there with obedience.

Trust me, you will more likely not going to long it once it gets there as you will think it could be catching a falling knife 😏

yeah the only red flag that prevent me from investing right now despite BTC is really cheap around $53k is that it can go down further.
we're early september and it's already this bad, surely there will be relief pump after this recent dump but I'd expect the price to go down again, price swing is real for this bullrun cycle, anyone who taking advantage of the really deep dips are gonna be making fortune.

if BTC really hits $43k, i'm ready to long with 100x leverage in my cross margin account. maybe there will be huge reversal that could make bitcoin bullish again.

Seriously - I don't expect bitcoin to go down to the $40K area, that looks very bearish for bitcoin. Besides - there is a good chance of seeing the market recover if the FED adjusts rates - so the $50K range is where I expect it as support for the month. Even if it does go down - $49K is the support I would expect to be strong enough to prevent a major panic, but hopefully it won't get there.

I agree with DCA - you can do it whenever you have the budget. If you have extra income in the real world - some of it would be good to invest in bitcoin. Another option - save btc from the signature campaign now, it will definitely be more profitable later.

If we go by the "not too good yearly pattern of September for Bitcoin" for a couple of years, we're (I'm) more likely to speculate that price will drop further to $43,700 region as there's a Point Of Interest there that is also a demand zone. If I had free cash, I would be waiting around that zone to take a shot at it or try to DCA once it drops into the 40k region. That's not a financial advice, anyway.

Even though I hate this analysis, the market condition is showing that it is a possibility. Bitcoin is a little above $53,000 which is just about $7,000 from the prediction of those analysts. I would love to see price recover from the point it is now if we will still see a new ATH in this market cycle because it is really showing that we might be stocked in a range for the rest of the year if this trend persist. The only solace I have in the market is the opportunity it afford me to still get in at decent prices which would have not been possible should price proceeded upward after the halving.

Right now, bitcoin price has dropped into $53k and most likely, it will continue to drop more in the next days. This proves that the bottom price for bitcoin is not certain yet, and when we get there, none of us can tell exactly that it's already the bottom for bitcoin.

I guess knowing what's the bottom price of bitcoin won't help at all. As long as you know when to buy and when to sell, and seize every buying opportunity that comes, for me that would be enough so that we will till be profitable when the real bull run comes.

You are right, nobody talking here about the fantastic opportunity which is being
presented by the market. We are at $53,400 ATM - regardless of whether we are
going lower this is a perfect opportunity to buy! I put my weekly surplus FIAT into
Bitcoin at $56k and thought it was a great deal, will have some more to put in again
in a day or too so hopefully I can avail of the discounted prices.

I agree with those 3 points, I think they are correct! Still bull market and continuing
to next year.

I'm not sure who Michael Saylor is, nor have I seen his post. However, I believe that your speculation is more accurate than mine; its price seems to have stabilized at approximately $53,500, a little lower than my initial reply, but it looks like the major downfall has stopped. We can't actually predict if this is going to be the end of it, but from what you've mentioned, I'm inclined to believe that there's a decent chance it won't drop much further from $52,000 to $53,000.

On the other hand, if it does, it'd be an interesting opportunity to acquire some Bitcoin at a discounted rate.

It's funny how you're all trying to predict the target at random and I bet none of you is acting on these predictions. You say it's going to be 55k, but you don't plan to buy at that level. You say it will go to 49k, but knowing that you're still in bitcoin, not fiat money, waiting to buy at your target. The truth is, unless you're in fiat with orders opened at these levels, it doesn't matter what price we touch. In 2020 bitcoin flash crashed to $4k and a year later it was at a new all time high.
There are some things that I'm sure of despite the price.
1. We are still in bull market
2. We haven't seen the top of the bull market yet.
3. Bull market will continue in 2025. It will not end in September 2024.

$56,600 is not the current low. Oh yeah. Previously did you mean now for this month or something else.
If you mean now this week or today, then the lowest price is at $53,267.
I am on the side that is happy with the current price drop and to form a new support price.
A price drop like now is a good opportunity to buy and according to my observations on one of the big and well-known trading platforms, especially spot trading, the behavior of the sellers is very bad.

The August low was $49.5K and the current price is still dropping, we know this month looks to be more of a drop some speculation says it could be as low as $45K it's like there is a panic after seeing the price there is no reversal at the moment.

What we predicted about the bottom then $45K is what we saw, could be wrong but it's still early in the month while the next few weeks bitcoin could be worse and that's not what we want, we know history is recorded in Coinglass - September will be dark.

Well, that's too much and the price is already oversold and beyond the Bollinger bonds that's what I expected the price to be the dip price but I'm not sure there was news 30 minutes ago about Michael Saylor's post that might affect the price with a little decline 3% to 7% lower that's manipulation but look at my prediction at $53k+ as you can see it reacts on that level and if you check the liquidation data from Coinglass you will notice there are lots of traders take that position at $53k compared to a short position.

This is just my own prediction my guess is it won't drop more than $53k if it drops below that price then it's manipulation.
I'm not a professional trader but I'm not analyzing only what I see on the chart but I also analyze the volume and the liquidation chart and data that I gather from coinglass but some data like from ETFs shows negative net inflow its huge drop we might expect more drop later but my guts still expecting it would stay at $53k level.

Well, as you've probably noticed yourself, we're past that stage. Bitcoin is down to $53,800, and it's still crashing as we speak. As other users already suggested, Bitcoin went below $50,000 during the last month; thus, it wouldn't surprise me if it happens again. I'm speculating a bottom between $50,000 and $51,000. To be honest, the lower, the better, as it's still unsure how many discounted opportunities we'll have from now on. Now is the opportunity to acquire more Bitcoin at a lesser price.

At this point we are far from that bottom line for bitcoin because it liquidity will cover way above that price, $49k is the least we can expect, but staying above 55 a d possibly above is sure get for this period, those that bought the dip at around 45k are already in massive gains and at the same time not willing to let go of their bitcoin holding.

In this time we may see the bottom around 50k if that becomes any possibility to see such but we have such a hope that going below the speculated bitcoin price is nothing near now.

Bitcoin found it has not found the bottom, its found a path beneath that support so about the opposite.  Price could always correct this movement and close above 60k, its possible & by end of the week would be bullish if we could do this.
  Its best to  always keep an open mind on progress but its negative for now is a fair view.

My target downside now is 50k till we can prove otherwise, momentum is downwards and 50k is about the next regular amount of support in sight.   Market overall has some pullback, it is now the autumn and turbulence is normal as an event.

How do you mean? Because the price mentioned here had not been the base or lowest price Bitcoin has encountered.

Let us just assume from when Bitcoin surged to the current ATH on March 14 2024 at the rate of $73,750.07 being the highest price currently
                               
As the imagine describes the market chart prices, I tend to drag your attention to the arrow notation showing the highest and lowest price in the historical chart.

                             
Here on August 5th 2024 has the market price at the lowest rate of $49,121.24 as a bottom price.

You can also also follow https://finance.yahoo.com/quote/BTC-USD/history/ to see the market prices in a full chart of historical orders then, you will find out that there are more lower than your claimed $56500 as a bottom of the market price.

I remember a few months ago when bitcoin price was above $70k and everyone here was optimistic that bitcoin wouldn't drop to $60k or that the bitcoin bull run wasn't over yet. But the unexpected happened after the halving, Bitcoin kept correcting and when the price dropped below $60k, people started to become pessimistic, more and more predictions about Bitcoin falling below $50k or $40k.

It's clear that no one knows what's going on and market sentiment changes very quickly. These days, bitcoin price cannot go above $60k and everyone is afraid that the price will fall further. But I believe that if bitcoin hits $60,000 then all the worries will go away and the predictions 70k$ or $80k will come back.

OP, you need to analyze and make your own judgment instead of asking us, because neither we nor you know what will happen in the future.

It seems like it will go down more in the charts before going higher. There’s only a little time left before it goes up again. After that, I think it will be the floor. We will see what happens when it does. I do hope that many people and investors will see the potential of BTC and invest in it.

Maybe this will change in November. That’s what I am seeing.

Looking like it hasn't I mean I was hoping the usual cycle goes of going to 55k then above 60k again, but we dropped off again to 56k after 58k so we might actually go lower this time. I wouldn't panic though unless we go like below 50k.  We might see some panic sells then so who knows how low it'd go by then. But until it happens, the market should still be pretty ok even if we're on the lower end of 50k for the entire month of September.

Still, this range is a good time to buy looking at things in general.

I agree! It's not worth it and not a reason to get your bags out. It's essential to stay "in the game" with BTC and accumulate it step by step.
It will be worth it, trust me.

I guess not yet. I think Bitcoin can go down for more. Although the price seems want to increase but it still hard to breaks the barrier so we will see what will happen today. If there are a good news, maybe that can boosts the price to increase but that needs to have more support to lift the price to the high price. But if the push to go down still stronger, that will not make an effect to increase because the price can get down to the lower price.

If the price down to $55k or even lower than $50k, I hope people will not panic especially a new Bitcoin investor. They will see a new chance to buy Bitcoin at a lower price so they will use that before the price reverse.

To answer that question you must have a comparison for which period that Bitcoin reaches the lowest point and is it related to the previous ATH or what? The lowest point for the previous ATH period no one can guarantee with certainty because even though the price drops around $ 46,500 is an uncertainty because this asset is quite fluctuating. But if the relations of the lowest point for the current period I think at that number has not fully reached the lowest point.

It is difficult to determine the prediction of the direction of bitcoin and may not be entirely accurate but if you have confidence in investment then be prepared to accumulate. The potential for recovery or going to rise at $ 60,000 will be seen again, although regarding certainty we cannot see with certainty and even people say the potential of $ 100,000 will be achieved by the next ATH period.

too early to make decision we aren't even into 15th of september and the bad sentiment that revolve around bitcoin right now is all about september being rektember, it could happen in the middle of the september or at the end of september.

since price right now just swings around $55k and $56k, I think it might go deeper, the reasoning for that is 1. the overall bad sentiment about this month and 2. the price didn't bounce quick enough to reach $60k again like before.



so to be on the safe side, you should wait a bit until there's sufficient data to see whether the price gonna bounce back or not. only catch the falling knives if you think you can afford to get hurt.

I can say with true certainty that btc dipped under the ops number of 56.5k

I can also say I think we dip under 50k maybe as low as 45-46-47k range.

I can’t say it yes or no, but one thing is certain, none of us can actually tell what’s the bottom price of bitcoin will be. It can drop even below $50k for all we know, that’s how unpredictable bitcoin is. However, my own prediction is that bitcoin price has bigger chances to drop more drastically and reach a much lower price. But I can’t pinpoint what will be it’s exact price. But as long as the bull run is not around the corner yet, and global news and updates keep affecting the market, we will still experience more dips prior to reaching its new bitcoin all time high.

Do you mean $55,606 because that is the lowest price in the last 24hrs when I looked at my trading exchange account. If you meant $56,500, it is still not the bottom because Bitcoin is trading below that price right now and I do not think the bottom has been reached yet. I want this to be the bottom and the last dip before the market starts to rise but it might not happen because I do not control the market movement. We just have to be hopeful and keep believing Bitcoin because It does not matter how long it takes but Bitcoin is going to bounce back. I do not pay attention to the bottom but keep accumulating too because soon we will all be smiling.

The bottom was likely at $49k. If this time, it's gonna be around $55k. And as I've checked the run for this week and month, it seems that $55k was the lowest that we're getting. It's okay, wait until the FED announcement again, and for sure we'd see some pump after that. This time, it's all about shaking the weaklings but is the price cheaper? I don't think so, I'm still zooming out and if we're going to conclude it, the holders are still winning with this price unless someone has bought at the peak then, you only have to hold longer.

Even long time holders or can we say so-called experts here can't predict when will be the bottom of this market. Everyone is just speculating So It is on you how will you strategize to gain profits from this market. No one is obliging you to put money here, should be your own accord and at your convenience.

If you feel that is a bottom why not start your first position and do a DCA later because honestly no one knows what will be the price of BTC later just don't lose the opportunity to buy at a lower price than waiting for something that you don't know if the price will touch lower than the expected price every price drop should be a good opportunity to buy at low price.
That is why we have a DCA strategy to make sure we buy at a dip price.

For technical analysis on the chart currently, it is not touching yet the support area so it's not the bottom yet maybe around $53k or lower would be the bottom price for this month.

It might go down to $50k or spike any moment from now, if you want to invest into Bitcoin, don't wait for the bottom before you buy, you can start DCAing while still waiting for the price to drop. Sometimes, if you are expecting for the price to dump before you invest, you might get disappointed and see that instead of the price to drop, it will start to surge high. We are yet in the bull season and you can not predict when and what price the bottom will be.

We have actually gone below the $50,000 price Mark last month, the dump that occurred in the August 5th took the bitcoin price to around $48,900 which was a good support left before and then was mitigated with the selling pressure still around I also expect a bottom but the $48,900 support still remains my strongest support.

The CPI news and meeting will actually give investors insight on what the economy is going through right now, the last time when the news of potential recession was broken, it created FUD and we had a huge dump if the September 18th news turns out negative then we might be hit with a bottom, which is not good at the moment because the fear will only increase.

Yes the idea is to keep accumulating for those who have spare funds to accumulate, as for those who can’t they should just look away from their portfolio because looking at it at the moment wouldn’t be good for them

Thank you everyone who replied so far.
The reason I am asking, is because I am keen on selling some of my Altcoins without losses and I am wondering how long I'll have to wait...

a few hours later we got under to 55.9k

I could see 45-47k easy to get to this month.

maybe even 41k-43k could happen.

Looks like from the commentators here so far that its a No, we havent seen the
bottom yet. I believe September is not a "Green" month traditionally anyway
so I would guess we are going a little lower before the end of the month.

More shaking out if the weak hands...if they havent been shaken out already!

I hope everyone else is staying positive for what is potentially ahead to round
out the year with a Green last quarter?

If I'm not mistaken, the last bottom we have seen is around $50,000, during the so called German government selling their Bitcoin. So in this case, there are still a lot of selling pressures, so who knows, maybe we can see at least less than the last bottom and retest it.

So in any case, expect for the worst, we will have on Sept 18 the next meeting by the US Federal Reserve.

And by what we said, just continue what we have been doing in the last 2-3 months, just accumulate as much as we can, take advantage of the dip and just ride this bearish slide.

With the current state of the market, it would not be surprising if the value of Bitcoin falls further. Because the market will do some correction and wait for it to become bullish again. Since the price of Bitcoin fell below 50k a few days ago, the market may fall even further. We are heading towards the end of the year and there are many examples of Bitcoin price going up during this time. Bitcoin never moves based on history though. If the current price of Bitcoin falls below 46K then Bitcoin can take a long position in that area. But speculation and reality are not the same. From this position, the market may move upwards again. Market may move from 56k to 60k again.

Everyone believes that when the Fed cuts rates it will be a price reversal in the asset market and experience a price increase back to bullish mode, but if you look at the economic situation with unemployment rates and sluggish market reactions and several events in the past when the rate cut did not mean bullish, but accompanied by a recession, this is still a shadow of the asset market that makes many people a little afraid of the economic situation in America.

Finding a price dip in this cycle is quite difficult with the current uncertain market movements, we could have the potential to drop prices to the $ 44k and $ 38k levels if things get worse, but I hope that doesn't happen and Bitcoin must stay at the $ 50k level to make it easier to reverse its position into a bullish moment.

Some prediction analysis will make you to have double taught in bitcoin, but what I know in bitcoin is that the price is unpredictable, before you agree to people who predicts the price of bitcoin both long term and short term..ensure that you have make your proper research towards Bitcoin before you agree with anyone decision, I know that price of bitcoin will definitely decreases after it increases to certain points, so theirs every tendency that price of bitcoin can drop above the estimated value you points out, nobody can predict bitcoin price.

Bitcoin can decrease and increase due to the demand rate, some people is saying that price of bitcoin can decrease more than its present price, those speculations is assumptions, let them convince us that price of bitcoin might go below its present price, the thing is that they supply control its decrement whereas demands control its increment.

It is difficult to determine if Bitcoin price reach the bottomp price. Even we are now see the price is green, that doesn't mean the price can not down again. You can only watching and analyzing the market while you can prepare to buy for more if the price still down.

But I guess the price still down for more although I don't know how deep Bitcoin price will be. I heard that some people predict Bitcoin price will down lower than $50k but that will still difficult to be right. So rather than you listen to other people's prediction, it is better you prepare yourself so you will not miss the chance to buy more.

The correction this time can be deeper as we don't have the right sign. But you don't have to worry because Bitcoin price will reverse to the high price. This time, our focus will be to buy Bitcoin at many lower price.

And this is something that people should really be that wary about or something that do talks about having that realization because there's no one could really be able to determine or would be able to know on whats the bottom. We cant be able to see on whats ahead and even with the current market condition on which there's no fundamentals or news around but turns out that the price is really that going down.
We've been trying out to hunt to bottom. We do know that the price had gone down on $49k recently and tons of people have been that believing that it could touch up 42 but it didnt push through on which
this do really always proves out that technical analysis and other fundamentals will really be that always effective. This is why it cant really be avoided that we do keep on making up some questions and speculations towards the possible movement that we do able to take. Somehow its not something new because we are all speculators on here.

No one would indeed have the cryptal ball on who would be able to know on where prices would be going. Its up to you whether you would be making up some entry on the current price level or you would be waiting up for further dips for you to maximize profitability. Its not really that bad to consider on the current price but just like been said that it cant be avoided that we will really be thinking up for more and this is why
we will really be trying out very best on maximizing profitability on which it would really be causing up for us to wait up even more whether those calls or decisions will really be a hit or miss.
Tons of factors that could really affect out the result or outcome, so better bare up yourself into those probabilities.

Bitcoin price is now generally in a bit of volatility, having touched $56,000 directly from $62,000. So a lot of people make a lot of comments, but I generally think it's normal for this kind of dumping to happen before a bull market hits. Because every investor has ample opportunity to hold Bitcoin in a deep market, I am not alarmed by the current volatility. Because this is the biggest opportunity to hold Bitcoin, because market conditions are not always bullish, dumping and investors can hold, that's why dumping and pumping is normal in Bitcoin market.

No one has a crystal ball to know the future, so no one can answer your question, not even those who claim to be experts. Those who still want to accumulate more bitcoins will always want bitcoin to fall further and vice versa, those who bought at a higher price will want bitcoin to recover from here. The market always has bulls and bears for you to choose from, and it all depends on you.


What is your purpose in knowing the bottom of bitcoin? Are you planning to accumulate more bitcoins? If that is your intention, I recommend you buy more bitcoins if you are ready because no one can determine where the lowest bottom is and where the highest top is. DCA and long term holding is the best strategy we have, don't try to find where is the bottom and where is the top.
 

Haven't we see the price lower than this before in this year? Correct me if I am wrong we have seen it around 50k to 49k and I can't say with all assurrety that this gonna be the bottom but might also see it bouncing back sooner. What happened is that there are lot of prediction on the bitcoin price which many of us have high our hope to because of the speculated news and of course investors and traders are using this to give themselves a kind of relief hope since they are already in a lose.

56500 doesn't seem to look like the bottom for me, taking a critical look at the chart, you are going to see this key observation on the one month time frame that there's a strong build of a bearish candle which isn't closed up yet so reversals may not be expected any soon and this is actually around the 56k region, where I'm seeing a possible support that my propel a reversal is around the 52k zone but it spans across to the 50k zone where its strongest and looking at the news in recent time sit appears to me its possible it gets to this point before a possible potential bull move as even some whales look like they are currently reacting to this.

For long term investors i believe this is what to look forward to because its the possible outcome in the nearest future but in the short term it may not make much sense because all yo may be seeing in the recent is typically a down ward trend which may seem like a loss to those who have their portfolio already and for those tryin to venture in may be scared because they are are going to think only in the loosing direction.

There are some predictions that Bitcoin might have a potential low of $46,500. So it is not bad to predict that the price might get lower than 56,500. However, with the expectation that the US Fed will cut interest rates, the value might push an uptrend. I expect the price to get to $100,000 before the end of the bull market. Anyway, it is also key to understand that the price of Bitcoin is unpredictable, so do your research.

Some analysts predicted that bitcoin may fall to or below $46000. It fall to $48900 instead. Now some analysts are predicting that bitcoin may fall between $45000 and $50000. I do not believe how true this would be but I think it is a good speculation. The way the market is right now, we can not know the bottom because bitcoin price is not really that volatile as it should be but ranging within certain price.

Do you think Bitcoin found the bottom now at around 56500?