Bitcoin Heading to $70,000 - page 4.

LUCKMCFLY

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The price of BTC has been very volatile for the last two days, many were betting that it would reach $ 55k, but from one moment to another it fell more than 12%, at the moment it is around $46k, the technical indices give the following according to cointelegraph:

Quote

the bulls will try to push the price above the 20-day exponential moving average ($48,216). If they succeed, the BTC/USDT pair could again rise to $52,920 but the bears are unlikely to give up easily.

Source: https://cointelegraph.com/news/price-analysis-9-8-btc-eth-ada-bnb-xrp-sol-doge-dot-uni-bch

For now many are waiting for the price to continue falling, but the opposite always happens, I think that most are waiting for the price at $ 40k but, it is likely that the next step to $ 55k, I think that $ 70k is likely, although the scenario shows for now that it is difficult.

Oceat

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Quote from: bots1 on September 08, 2021, 07:54:19 AM

Bitcoin is preparing for significant gains, to $70,000 in december 2021 instead of september. Technical indicators show the rally is continuing towards $70,000 and beyond. One of them is the Ascending Triangle, a bullish continuation pattern which is currently in the process of an upward breakout movement.

I hope you were right about that because Bitcoin tends to bend the rules of following the line sometimes and that makes it very difficult to expect to happen. But let's just wait and see that this $70k at least would ever be touched by the end of the year or before the year ends.

Whales might be altering the results again with their market manipulation and that would be a hell of a factor that we need to face since they tend to earn much more profit than us who is holding. But whatever if they sold then someone must hodl it for them and wait till the right time comes to sell.

el kaka22

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Just because the price dumped doesn't mean that it will not go up to 70k. It could have dumps along the way and still reach to 70k level as well. That is what I believe is happening, all those whales that sold to crash the price will have to eventually collect those bitcoins back and when they do that the price will skyrocket. Regular people are not selling right now, a drop that happened inside of 10 minutes is not because of retail investors, nobody gets together that quickly and sell it as a community.

It was all whales that ended up selling together in worths of billions of dollars and now they are panicking because people are not selling like they imagined we would. Now they will have to buy from us and we are not selling which means that they would have to buy it more expensive than they sold which would make it go up a lot higher, so 70k is definitely possible.

SquallLeonhart

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Quote from: Tessnik on September 07, 2021, 03:13:44 AM

the way bitcoin have retained it stand around 50k is a momentum signal to the next price target and with this September being a viable month for cryptocurrency as bitcoin become a legal tender of a country El Salvador which is the first in history since bitcoin creation over a decade ago.

I predict a $70,000 bitcoin price before the end of this month of September.

I have to say that El Salvador is not the main reason that the current price is high. I mean think about it, El Salvador did not even added as much to bitcoin as just one microstrategy, and I am not even talking about the other parts of it. This is why I have to say that it is obvious we are having a general increase in price not because of El Salvador, but because of many other things.

This causes bitcoin to be diversified in the reasons why it is going up as well, if one reason is absent then other reasons take over and do it for bitcoin, hence why I believe that we should not be really too judgmental when it comes to reasons why it went up. Main idea comes down to "people buying bitcoin" because when the demand is higher than the supply, price goes up.

bots1

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Bitcoin is preparing for significant gains, to $70,000 in december 2021 instead of september. Technical indicators show the rally is continuing towards $70,000 and beyond. One of them is the Ascending Triangle, a bullish continuation pattern which is currently in the process of an upward breakout movement.

jakdanyel

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kycfree

It seems like we will see $70k in September in only our dreams. Grin

The price has fallen down very sharply and it is barely trying to recover from the $46k level now. Most of us dreamed that the price would set a new all-time-high level late September or in October. But this unexpected and incredibly fast decrease shocked us. Sometimes we were seeing price corrections but they were not this serious. I wonder until when the price will continue to struggle.

DU18

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Quote from: Kittygalore on September 08, 2021, 12:46:37 AM

Quote from: huu78 on September 07, 2021, 06:06:01 PM

I agree. Rhis will be a correction for the next bigger bulls. seeing what's happening now it's shocking, I've lost quite a lot for Future trade.
And this makes me have to increase the amount of btc that I will hold until the end of the year. I'm sure it will be green again soon.

Don't continue trading if the day is pretty bad, remember to always try and make sure that you're collected, calm amd chill when doing important decisions plus you should as much as possible, avoid futures, a lot of people are losing money in that thing if they're not in any way can manipulate the market.

trading futures under these circumstances, of course it would be very risky to lose money in the market, I personally prefer spot trading for now and spread my portfolio on several cryptos with different price orders now, I think now the market situation is quite deteriorating and Of course, we have to be patient and calm in making every decision in trading, so it's better for us to take a break and hope the market will get better soon Grin

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asrinur

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Quote from: Tessnik on September 07, 2021, 03:13:44 AM

the way bitcoin have retained it stand around 50k is a momentum signal to the next price target and with this September being a viable month for cryptocurrency as bitcoin become a legal tender of a country El Salvador which is the first in history since bitcoin creation over a decade ago.

I predict a $70,000 bitcoin price before the end of this month of September.

I think this month is difficult if the bitcoin price reaches $70,000. Looking at the movement in these two days, it seems that at the moment the bears are building momentum. As the Relative Strength Index remains around the 50 level, BTC could find critical support at $45,000 and below in the near term.

STT

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70k by year end is still possible, its just going to take a little diversion meanwhile. Build a long ladder, you are going to need to reinforce the steps some on the way up, all part of the process. I'm grateful for us not just going straight up as I just dont have to money to invest infinitely. I think correct markets revise prices often to add confirmation and confidence via volume, it also helps more people be involved. We may go as low as 39k in this sell, I think thats quite reasonable but it wont negate higher prices later.

Kittygalore

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Quote from: huu78 on September 07, 2021, 06:06:01 PM

I agree. Rhis will be a correction for the next bigger bulls. seeing what's happening now it's shocking, I've lost quite a lot for Future trade.
And this makes me have to increase the amount of btc that I will hold until the end of the year. I'm sure it will be green again soon.

Don't continue trading if the day is pretty bad, remember to always try and make sure that you're collected, calm amd chill when doing important decisions plus you should as much as possible, avoid futures, a lot of people are losing money in that thing if they're not in any way can manipulate the market.

Tessnik

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Quote from: Johnyz on September 07, 2021, 05:40:16 PM

Unfortunately, the price dumps that much today and nobody sees this one since the good news from El Salvador started today so many are anticipating for the price to go up, well this is how the whales work and let's see if we can recover again this or this will take more months before we stay above $50k and used that as the new support level, for now I wont panic.

The dump happened not only to bitcoin alone but almost every other cryptocurrency in the market suffered from this sudden crash in price I don’t at resulted in this but am certain Bitcoin will recover in the long run but the chances of it getting to $70k are still viable before the end of the month. Some analysts are even predicting a 100k price this month.

bitterguy28

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Quote from: Tessnik on September 07, 2021, 03:13:44 AM

the way bitcoin have retained it stand around 50k is a momentum signal to the next price target and with this September being a viable month for cryptocurrency as bitcoin become a legal tender of a country El Salvador which is the first in history since bitcoin creation over a decade ago.

but what now that the price of bitcoin goes back to 46k ? is this what stable price you can call lol. this september alone bitcoin literally hard to maintain that 50k value. though it is reachable but maintaining does not.

Quote

I predict a $70,000 bitcoin price before the end of this month of September.

with this movement ? kindly check the graph

https://coinmarketcap.com/currencies/bitcoin/

and then tell us about the 70k this month alone.

arwin100

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Quote from: Johnyz on September 07, 2021, 05:40:16 PM

Unfortunately, the price dumps that much today and nobody sees this one since the good news from El Salvador started today so many are anticipating for the price to go up, well this is how the whales work and let's see if we can recover again this or this will take more months before we stay above $50k and used that as the new support level, for now I wont panic.

Not surprisingly, after rising to prices above $50k, Bitcoin is now down 10% in a day, because Bitcoin is very volatile. I think the current decline
in Bitcoin price is because some investors are taking profit, therefore the price has decreased. But there is no need to panic seeing the Bitcoin
price now at $46k, because I believe Bitcoin will recover again in the near future.

Not only that there are big fuds came which makes people panic that's why many traders now are taking there profits early and that triggers the dump but for sure we can see greenlight after this things fade then good news will follow, and I'm also sure that whales will take their positions again so its good to stand by then do buy backs when we see huge order came to supports bitcoin bullish moments again.

huu78

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I agree. Rhis will be a correction for the next bigger bulls. seeing what's happening now it's shocking, I've lost quite a lot for Future trade.
And this makes me have to increase the amount of btc that I will hold until the end of the year. I'm sure it will be green again soon.

Johnyz

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Unfortunately, the price dumps that much today and nobody sees this one since the good news from El Salvador started today so many are anticipating for the price to go up, well this is how the whales work and let's see if we can recover again this or this will take more months before we stay above $50k and used that as the new support level, for now I wont panic.

proudhon

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Quote

Bitcoin Heading to $70,000

Doesn't look like it to me.

ILuckyGuyI

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It looks like Bitcoin is not heading to $70k or even $60k now. Grin

To be honest, I had zero expectation from Bitcoin price to fall this much down. It literally shocked me. Thankfully, the price stopped falling when it reached $43k. If we saw a level below $40k again, it would have been even harder to witness it recovering. I wonder whether this would be a preparation phase for the next bull market. We will find out later I guess.

btc_angela

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Quote from: Tessnik on September 07, 2021, 03:13:44 AM

the way bitcoin have retained it stand around 50k is a momentum signal to the next price target and with this September being a viable month for cryptocurrency as bitcoin become a legal tender of a country El Salvador which is the first in history since bitcoin creation over a decade ago.

I predict a $70,000 bitcoin price before the end of this month of September.

Not so fast, as the market plummeted, or shall we say another flash crash to $43k after the El Salvador news. So your prediction of $70k might wait for a bit.

So far the price stood @$46k, so obviously, below the big mental barrier of $50k. Nevertheless, time to buy bitcoin again specially if you think that the price can hit $70k or even more at the end of the year. So this is golden opportunity and don't look at the crash as something negative, take advantage of it.

KennyR

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People have got an opportunity to make a buy/invest on few of the top cryptocurrencies. Right now the market seems to be under correction. For the next few days time we can expect the price of bitcoin to stay above $40k and below $45k. As $65k is already reached, $70k isn't far apart. Based on the positive news around relative to bitcoin we can expect bull trend on the market, by which $70k gets crossed.

Sanitough

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Quote from: tomahawk9 on September 07, 2021, 10:57:35 AM

Quote from: Tessnik on September 07, 2021, 03:13:44 AM

the way bitcoin have retained it stand around 50k is a momentum signal

momentum aaaaand its gone...we're below 50k now, currently sitting at 46.9k...what's this signal called? Roll Eyes

It's called manipulation, and I'm not certain if bitcoin will continue its uptrend as that major sell up really cause some big panic.

Quote from: tomahawk9 on September 07, 2021, 10:57:35 AM

Quote from: tokeweed on September 07, 2021, 09:45:31 AM

The uptrend has been jinxed. I blame this thread! Lolol. Cheesy

... Anyway, does anybody know any news or what’s going on or is it just the trading god wanting to torture us again. Everything is red atm.. Except for of few alts which will be red soon.

whales trying to fuck with the news about El Salvador making btc legal tender today? *takes off his tin foil hat* but seriously, it's certainly not a coincedence. Biggest price drop in months. This sucks, ffs!!

Don't be surprised, just one of the ordinary days in crypto, we've seen in the past already, so there's no reason for us to be surprised again.
That's what Whales can do, and if we think it will not happen again, we should think twice.

Now, the next movement is very crucial.

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