Bitcoin is ready for $40k - page 7. | Bitcointalksearch.org

darkangel11

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Quote from: adaseb on June 06, 2023, 11:23:47 PM

Bitcoin broke into the support area during the binance news. And even after coinbase news it still managed to hold the low. So it basically stopped out all the leveraged longs and reversed.

The fact that it completely engulfed the previous breakdown candle is very bullish. I think we will break the yearly high soon and make our way to the $35ks.

Can we really talk about a support when people are selling only to move money to another exchange?
A lot of the recent sell pressure is a simple relocation and or saving your money from a potential risk of exchanges going down. It's not related to whether bitcoin is a good buy or not.
I feel like this pressure is artificial and is going to pass soon, especially now that people are starting to understand that even if the SEC wins against exchanges it won't happen this or next year. It's going to take a long time and will ultimately lead to creation of bitcoin-only exchanges.

Chainsmokers

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Bitcoin will reach $40k when the time comes! Of course there will be volatility before that happens,
maybe a bear trap will occur before the bulls come,
just like in 2020 when the bitcoin price dumped to the level of $3000-$5000 where a panic sell occurred,
after that the bullrun came great and peaked in 2021 to a new all time high,
I'm sure $40k and a new all time high will come again but it has to take victim first like 2020.

OgNasty

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I would agree that Bitcoin is nearing the next leg up. I think a little bit of concern around the mtgox situation still remains, but once that is behind us I think we'll end the year in the $40K range. The real fireworks will begin at the end of next year though. I think if you're holding Bitcoin here, you have to commit to holding until the 2025 top plays out just to see what you could get if the market does repeat itself again for the 4th time. I have my concerns whether the Bitcoin economy can survive another massive price increase, but I do suspect we'll get our answer shortly after the next Presidential election in the US.

jostorres

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Quote from: Velemir Sava on June 12, 2023, 12:23:55 PM

It needs a process of course and this is inseparable from Market Sentiment and Individual Expectations which play an important role in short-term price movements, as well as unfavorable negative news that can reduce investor confidence. But, what is certain is that Cryptocurrency Markets may experience periods of consolidation or correction before continuing their upward recovery. It takes patience and a long-term view to successfully navigate the volatile nature of the market and my view is that BTC could at least break through the $28,447 resistance first and then back up again.

A lot of us has the same impression as you. We started positive this year and this downfall that we experience is still nothing. Maybe we can only change our views once it lasted for a long time but 2024 is surely going to be a positive year. When you say avoid, I think that means we need to go outside for a while. That is helpful for someone who is worried but for some who are already immune to these ups and downs, they can monitor their assets actively.

What happen lately is not what you call a storm since the decline was still small but even if it is, it will surely pass. No storm remains even in the world. $40k seems high to me already so I considered it as bullish but for now, BTC is not ready for it.

dragonvslinux

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Quote from: ImThour on June 06, 2023, 08:07:13 PM

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

It's a nice theory, as I agree that 0.33 Fib was the previous resistance level, and this gives a target of around $40K with another +65% move to the upside. Fib or no fib really.

However this clearly depends on the previous resistance level acting as support around $25K, which so far is yet to be seen. Admittedly when you created the topic the Weekly candle was looking strong, but after the bearish close last week, also below the 200 WMA, the bullish setup is far from validated. This would also be the issue of intra-week analysis on the Weekly time-frame, as it's always unconfirmed.

kotajikikox

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Quote from: ImThour on June 06, 2023, 08:07:13 PM

Chart Timeframe: Weekly

I have been watching the market closely since the month of June enters and yet have not seen big difference from what we have since March .

Quote

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

but about this breaking ? well how many times that resistance had been broken but still we did not see 40k closely , the recent hype only manage below 35k .

Quote

Let me know what you think about it.

what I want to understand ? is aside from that resistance breaking is other reason why we will be making more than 40k sooner.

Questat

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Quote from: Velemir Sava on June 12, 2023, 12:23:55 PM

It needs a process of course and this is inseparable from Market Sentiment and Individual Expectations which play an important role in short-term price movements, as well as unfavorable negative news that can reduce investor confidence. But, what is certain is that Cryptocurrency Markets may experience periods of consolidation or correction before continuing their upward recovery. It takes patience and a long-term view to successfully navigate the volatile nature of the market and my view is that BTC could at least break through the $28,447 resistance first and then back up again.

Isn't the process I think but what we need in order for the price of Bitcoin to rise high is adding more users, continuous adoptions, and of course, it needs investors that are willing to hold. As we are in this current situation while the spread of FUDs is strong, panic sellers had increased which turn back the declining trend of Bitcoin. It is a need for us to convince people to have some faith otherwise, we fail to reach $40k this year.

Inspiron14

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Quote from: wahyuagung26 on June 11, 2023, 01:44:00 PM

Quote from: 19Nov16 on June 09, 2023, 12:35:21 AM

These days the price continues to decline and according to the predictions of many experts because many of the big altcoins that enter the top 10 are under pressure, but we have to be optimistic that $ 40k is an easy price to reach, I believe 3 or 4 months before the halving the price will reach $ 40k soon and now a good time to keep buying before it gets more expensive.

We argue more for Bitcoin to be back at $30k or so, with the prediction of movement above that number we feel the good news is that maybe it will reach $40k, but we don't think this will happen in the near term, Bitcoin is so far still going under $30k down, it's hard to say that he'll reach $40k, unless there's going to be such a significant pump that makes Value increase.

If Bitcoin is able to penetrate another $ 30k then $ 40k or $ 50 might be achieved,
but indeed the price of Bitcoin is still below $ 30k even now it could fall deeper,
hopefully the price of Bitcoin can be stopped at $ 24k or $ 25k in this dump,
there's nothing I can do but hold bitcoin for the long term.

Velemir Sava

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It needs a process of course and this is inseparable from Market Sentiment and Individual Expectations which play an important role in short-term price movements, as well as unfavorable negative news that can reduce investor confidence. But, what is certain is that Cryptocurrency Markets may experience periods of consolidation or correction before continuing their upward recovery. It takes patience and a long-term view to successfully navigate the volatile nature of the market and my view is that BTC could at least break through the $28,447 resistance first and then back up again.

jaberwock

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Quote from: StreakW on June 07, 2023, 10:18:11 AM

I think it's a bit difficult if the bitcoin price will immediately reach $40k within this month. Recently the price of bitcoin has been on the decline and the resistance and support levels are not doing much better. Therefore, I am speculating that the bitcoin price will most likely only go above $30k and close to $35k in the next few months.

It has been ready for some time now and for some reason it just doesn't work, I do not know what seems to be the issue but the reality is that we can't really see the increase. Sometimes it's a bad news, sometimes it's just bad market conditions, sometimes it's some country banning something, in the end we always end up with a reason to fall and not enough reason to go up and that makes it so much harder.

I get that it's not going to be just a picnic out here, I know that it is not easy to "get richer", but I am not after seeing bitcoin price reach 100k right away, all I am waiting for it to go above 30k again just like it did a few months ago, it was April, we are in June, it hasn't even been 2 full months. I can't believe that we are struggling at that.

imamusma

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Quote from: wahyuagung26 on June 11, 2023, 01:44:00 PM

Quote from: 19Nov16 on June 09, 2023, 12:35:21 AM

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We argue more for Bitcoin to be back at $30k or so, with the prediction of movement above that number we feel the good news is that maybe it will reach $40k, but we don't think this will happen in the near term, Bitcoin is so far still going under $30k down, it's hard to say that he'll reach $40k, unless there's going to be such a significant pump that makes Value increase.

Bitcoin price will recover gradually, of course the process will take time. I believe that the market will recover before 2024 to a halving despite the negative issues that hit the market recently. So if you plan to take profits in the long term, try to avoid the market and its volatility as much as possible. The market may move sideways and tend to fall due to the impact of this negative issue, but soon after that we can expect a recovery.

If you think this is a storm, then rest assured the storm will pass. So $40k isn't bullshit, but it will be reached when bitcoin starts to get the high demand for it. OK let's see how the month closes out, but of course there are still many days to wait to see how the markets work against the negative trend.

wahyuagung26

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Quote from: 19Nov16 on June 09, 2023, 12:35:21 AM

These days the price continues to decline and according to the predictions of many experts because many of the big altcoins that enter the top 10 are under pressure, but we have to be optimistic that $ 40k is an easy price to reach, I believe 3 or 4 months before the halving the price will reach $ 40k soon and now a good time to keep buying before it gets more expensive.

We argue more for Bitcoin to be back at $30k or so, with the prediction of movement above that number we feel the good news is that maybe it will reach $40k, but we don't think this will happen in the near term, Bitcoin is so far still going under $30k down, it's hard to say that he'll reach $40k, unless there's going to be such a significant pump that makes Value increase.

sana54210

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Quote from: ImThour on June 06, 2023, 08:07:13 PM

You can clearly see how the Bitcoin Price broke the resistance at 0.33 Fib level and now this week, it made it a support.
I am speculating that we are about to head to the $40k Range.

Let me know what you think about it.

Let's f..ing hope so! I mean it has been under 40k for nearly getting to 2 years now, that is a long time and I think it should be getting a lot higher, I get that a lot of people are reaching to a point where it's not going to be easy to just accept the value anymore and get out.

I know that people can wait, and some people joined after that, but it has been so long that I am pretty sure that some of the people who held for so long left after seeing it not move. I have to be honest and say that the best thing we could do right now would be making some more money by going higher. Too many people are considering this as a normal market but it's not, yes it can go down, and yes it can stay down, but not for this long, we need to start going a bit higher for sure.

Wend

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Quote from: fzkto on June 11, 2023, 12:07:34 PM

Quote from: Kemarit on June 11, 2023, 07:04:02 AM

Quote from: Orange89 on June 11, 2023, 05:28:50 AM

For long term sure dude but if you see right now a lot of bad news like bnb, Binance coin and all these create fud definitely ongoing in crypto market that's all seems to be bad sign for the current market now we only need to wait till these fud get completely out but sure i am really excited for the upcoming year on btc halving

Yes, so far with the whole drama between SEC and Binance, it might be very difficult to us to see $40,000 at this point or for this month. But if we have to look at long term though, there is a big possibility to hit it, my best guestimate is that we might see that price before the end of the year.

It's not of a big jump though, we have seen the price goes to $31,000 this year. So if we just keep our positive attitude towards Bitcoin. Maybe in the next six month this is doable for us. But for now, it could be very difficult as SEC is trying to get ride of Binance.US and even Coinbase.

I too hope that in the long run all will be well. But I have fears that since the SEC has launched an attack on a major exchange, the reasons for that are very big. I don't want this to drag on for too long. Maybe they want to launch CBDC, so cryptocurrencies might be under attack by the authorities.

I'm not worried at all, I mean, we've had bigger crashes like this, and we're still standing and growing to this day. Even if the government, we are not afraid, there is no reason to fear a securities regulator like the SEC. All they want is money and power, they see the market's potential, and their greed has risen. But again, I believe we will fight those who want to control us, and we will continue to recover and make other strides.

fzkto

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Quote from: Kemarit on June 11, 2023, 07:04:02 AM

Quote from: Orange89 on June 11, 2023, 05:28:50 AM

For long term sure dude but if you see right now a lot of bad news like bnb, Binance coin and all these create fud definitely ongoing in crypto market that's all seems to be bad sign for the current market now we only need to wait till these fud get completely out but sure i am really excited for the upcoming year on btc halving

Yes, so far with the whole drama between SEC and Binance, it might be very difficult to us to see $40,000 at this point or for this month. But if we have to look at long term though, there is a big possibility to hit it, my best guestimate is that we might see that price before the end of the year.

It's not of a big jump though, we have seen the price goes to $31,000 this year. So if we just keep our positive attitude towards Bitcoin. Maybe in the next six month this is doable for us. But for now, it could be very difficult as SEC is trying to get ride of Binance.US and even Coinbase.

I too hope that in the long run all will be well. But I have fears that since the SEC has launched an attack on a major exchange, the reasons for that are very big. I don't want this to drag on for too long. Maybe they want to launch CBDC, so cryptocurrencies might be under attack by the authorities.

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Quote from: Orange89 on June 11, 2023, 05:28:50 AM

For long term sure dude but if you see right now a lot of bad news like bnb, Binance coin and all these create fud definitely ongoing in crypto market that's all seems to be bad sign for the current market now we only need to wait till these fud get completely out but sure i am really excited for the upcoming year on btc halving

Yes, so far with the whole drama between SEC and Binance, it might be very difficult to us to see $40,000 at this point or for this month. But if we have to look at long term though, there is a big possibility to hit it, my best guestimate is that we might see that price before the end of the year.

It's not of a big jump though, we have seen the price goes to $31,000 this year. So if we just keep our positive attitude towards Bitcoin. Maybe in the next six month this is doable for us. But for now, it could be very difficult as SEC is trying to get ride of Binance.US and even Coinbase.

Orange89

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For long term sure dude but if you see right now a lot of bad news like bnb, Binance coin and all these create fud definitely ongoing in crypto market that's all seems to be bad sign for the current market now we only need to wait till these fud get completely out but sure i am really excited for the upcoming year on btc halving

Tony116

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Quote from: gunhell16 on June 09, 2023, 07:36:32 PM

When Bitcoin breaks the 30k$ mark this week, it is possible that if we wait until the end of June, it will reach 40k$, but that depends on what happens with supply and demand. We all know that Bitcoin is volatile.

We are having a flurry of negative news in the market, and it could get worse in the coming days. Bitcoin has fallen deeper than yesterday, so it is unlikely that bitcoin will break $30k this week.
The market is being affected by the events surrounding the SEC vs. Binance war, not to mention we will have to wait for interest rate news from the Fed in mid-June. So expecting bitcoin to hit $40,000 this month is far-fetched.

Quote from: gunhell16 on June 09, 2023, 07:36:32 PM

But whatever happens, in the end, its value will still increase in the market, and its price can suddenly kick up in one day, but for now its graph is quite quiet and calm on the chart if we look at it, its bounce is superficial if you notice let's see what happens.

If we look at the long term, there is really no arguing, as bitcoin will always recover and will rise in the long time. The thing to do for long-term investors is to buy and accumulate more when bitcoin's price drops like it is now.

gunhell16

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When Bitcoin breaks the 30k$ mark this week, it is possible that if we wait until the end of June, it will reach 40k$, but that depends on what happens with supply and demand. We all know that Bitcoin is volatile.

But whatever happens, in the end, its value will still increase in the market, and its price can suddenly kick up in one day, but for now its graph is quite quiet and calm on the chart if we look at it, its bounce is superficial if you notice let's see what happens.

bestcoins1

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Quote from: 19Nov16 on June 09, 2023, 12:35:21 AM

These days the price continues to decline and according to the predictions of many experts because many of the big altcoins that enter the top 10 are under pressure, but we have to be optimistic that $ 40k is an easy price to reach, I believe 3 or 4 months before the halving the price will reach $ 40k soon and now a good time to keep buying before it gets more expensive.

What kind of experts are they? I find it funny when you start attributing the Bitcoin price drop thing to the pressure of the top ten altcoins. It doesn't even make sense when you say it because altcoins are under pressure as you say it's a result of Bitcoin not being better off at the moment, not the other way around because traders and investors would be looking at Bitcoin first before them. view and buy altcoins that are in the top ten. But in this case the discussion is about the price of Bitcoin which has absolutely nothing to do with altcoins.

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