Topic: Bitcoin is not going to $12k. - page 8. (Read 997 times)

12k usd is very low according to me. I mean Bitcoins might fall till 20k usd, but if it falls below that, then I am sure some whales will buy the coins and hence the demand to accumulate it will increase. Then instead of falling, the price will go up. If you ask me, then this bear market is an opportunity to be honest. Accumulate as many coins as you can in this low price and hold. Then sell when the price booms up.

I thought 12k was definitely possible when we were under 20k. I think we are too close to the halving for a lower bottom now though. It would take a real black swan event to hit 12k. I mean it’s possible but very unlikely. We are out of the peak bear market now, you can call this an accumulation zone, just sitting in a relatively tight range, boring chopping.

I agree that the bottom will not be below $15k like it has been in the last year although a certainty about price is not there. That means it can happen and it can not.
Given that the price rises and falls depending on supply and demand, it is still unlikely that the owner of the asset will sell all of their holdings without regard to the profit factor that will be obtained.

Like you said, if the bitcoin price chart continues to move downwards it will be a very good opportunity to buy.
It will indeed be burdensome for the holders if the current situation continues for the next time that has the potential for panic-selling, but the heavy rain will also stop and the sun will rise to brighten.

TBH there is no way to predict future price of Bitcoin. Price is not moving from 26k$ and it may be a new stable price of Bitcoin. Previously we saw Bitcoin staying on 30K$ for over a month. There is every possibility for Bitcoin to go down from this point and vice versa. We need to be open for bidirectional price swing of Bitcoin at every stage of market. As far as current dip is concerned, there is nothing much to worry as price correction is normal in every market.

Yes, hopefully it will last and won't drop beyond $12k.
A lot of manipulators will make the price go down wanting a cheap price so they can buy a lot of coins and sell them when the Bullrun comes.

Binance and Coinbase are big exchanges, if they get FUD like what happened to Binance.us which has a legal dispute with SEC, it will have a bad impact and make the crypto price crash suddenly.
We will see the Halving happen soon in the next year, and that will be the start of the Bullrun to reach the new ATH.

"- 93% of all Bitcoin has now been mined." - So coins like BNB which are already 100% minted and even deflationary should have infinite evaluation?

"- World's largest asset manager Blackrock files for Bitcoin spot ETF" he already have exposure to bitcoin price change by owning 8% of all MSTR shares. So this etf migh be a take profit time for him.

"- Mysterious wallet accumulated $3 Billion worth $BTC In just 3 months" - it could be the idea of ​​snoop dog and his stoned mind. The fact that someone could afford to buy btc for $ 3 billion does not mean that the market is doomed to increase. Well Snoop Dog net worth is around $200M but you get my point right?

"- Europe gets its first Spot Bitcoin  ETF " IMO bitcoin does not need ETF. Its not a regular commodity that is hard to store/transfer and ETF solve many issues. Being excited about bitcoin ETF is like being excited that at the moment when cars began to replace horse-drawn carriages, someone was excited that the latest generation of cars would have a container for horse food.

"- Only 6.3% Of Total Bitcoin Supply Left On Exchanges" fractional reserve allert

"- Bitcoin Halving in just 8 months" - halvings have much lower fundamential impact on price than before.


"- Bitcoin supply shock inevitable" - assuming demand constantly increases.

It's not that I reject the possibility of BTC pump. My investment capital is on the up side too, but I wrote my post to warn all incorrigible optimists that the future may be less colorful than it looks. And it is worth approaching the investment calmly, don't yolo rush all in, so that you do not have to sell everything at the very bottom if the next bull run will be in 7 years not 2 and you are out of money to leave from.

Well I do also agree with you with this. I do not think price of Bitcoin will ever fall down to 12k ever again.
But we do not know this for sure. We are seeing alot of fud in the news about Bitcoin.
And all it will take is for something bad to come out about a major exchange like Binance or Coinbase and will see more losses. But I do not think it will happen and we will stay about 25k per coin.

There are certain institution that can actually support Bitcoin at the price of $20k, but anything can happen and the whales are playing with the market silently, $12k might happen but let's be more positive this time because we are already experiencing the longest bear market with cryptomarket. What's the reason to panic right now? I see the price  holding to the price of $26k, this is a good sign that the support is stronger that the seller.

I don’t think it’ll drop that low because there is pretty much no sellers left. Most people who bought at $50k thinking we would get $1M already sold by the time FTX tanked. It tried to go lower but there just wasn’t any sellers except short sellers who all had massive losses when we rallied.

We just need to be patient because it’s still summer and the markets are very illiquid. Most likely by October or November we will get some movement and hopefully in the right direction. However keep in mind the global economy is not good. If we get a recession then they won’t be good for bitcoin or crypto at all.

Although I used to think that before the bull season really arrived, we would have another dump waiting for us. But I believe there will be no new bottom for bitcoin, we already have the low for this bear season, and that was the $15k set last year.

Recently, there has been a lot of speculation about bitcoin dropping to 12k$-8k$ before the bull season arrives and I stumbled across this article. I want to know what you guys think and why you believe bitcoin will not drop to 12k$.

Personally, I also don't believe bitcoin will drop below $15k. And I think we have a chance to buy cheap and don't miss it.



Source: https://twitter.com/thescalpingpro/status/1694058998092439603