Topic: Bitcoin may likely pull back to 35k - page 2. (Read 969 times)

Of course, the price will recover, but it might too long though. So it's just a question of your willingness to hold and buy during this time, or completely sell everything and wait for the floor price before re-investing. So there is still hope to make money or at least have a good investment strategy in the bear market. The market might be free falling, but it doesn't mean that we will just watch it. If you have some extra capital then re-invest.

I'd say thats bad but its probably the vast majority of people on the long time scale.  If an economy contracts over a couple years and unemployment goes to 10% then you might as well say its everybody.  Hence this is the force which drives prices down so much, a bias to productive assets becomes far more pronounced in such times.   This is why we get the sharp turn around, BTC generally doesnt give enough yield back to (most) people to be called high utility or an investment, most dont label it correctly as a commodity speculative bet basically.
  If they label right then risk might also be allocated correctly too and they wont dive into something they need to jump out of just as fast, unfortunately we get people doing the same every time.    Thats negative for them but also why I dont take price as a dictator to my judgement of prospects long term, price gets thrown about by desperate people who got no choice but to retract their remaining capital at a loss but it doesnt mean the actual asset itself is wrong or impaired by their loss.
  Its possible we could view 35k as a median and this current action as the overshoot, its given no hint of that but seems a reasonable view.  I always expect price to return to the 200 day average, I expect that now; doesnt mean 2022 ends nicely because 200DMA is in decline but generally we go too far in both directions and we'll adjust that effect at times.

Am not surprised at what we are witnessing now this is not the first time the Bitcoin market will have a free fall like this but one thing is certain if you can hold the price will rise again, must time I see such a fall as a signal for next bull run so let enjoy the ride in whichever direction the price goes either up or down.

You're right, mate. Even though we can analyze and predict prices based on history and also the fundamentals that are happening, it can still be wrong. There is a possibility that the price could still drop to $20K as the market is really crashing right now and so far there has been no significant recovery.

I also think that the next bullrun period might occur in the range of 2024 to 2025. The 2024 halving might affect the interest of traders and investors to buy bitcoin again.

               It was quite a huge wick and now, the market is showing a bit of recovery but I currently am doubting this. I personally think that we are still not out of danger as fear sets in and panic sellers are getting more and more hesitant to hold onto bitcoin and other altcoins. Specially the ones that are new to this industry. Oh well, not worried though, just a bit mad at myself for taking profits too early on my short at 28k. Still, I'm expecting good recovery half way through the month. Hope this happens.

It is indeed hard to see how Bitcoin drops badly while we are seeking for more higher and more increases but this is the reality of cryptocurrency investing , this is how the volatility of the market goes and with that? we must always ready and always aware of the risk and also of the advantage , so in any case just sell when you think you cannot hold it? or Keep it long for the best result .
just Buy bitcoin , and hold , or sell bitcoin and wait for the right time to buy again.

Wrong, it is not 28k but dumped at 26k just today and this is a bad sign .

They don't understand about crypto market yet. They think it is easy to gain profits and it is secure to put all money in crypto investment. They don't know if crypto market is very volatile and crypto prices can change drastically only in a few days. They are often shocked when they see the prices of crypto coins freefall, and they blame the volatility in crypto market. Some of them can continue to hold, while others may decide to quit suddenly. This phenomenon is not something new in crypto.

Agree. It is likely to drop more to $20k before the next pump in the bullish period. We have BTC halving in 2024, the next bullrun probably happens in 2025. But we don't know how it will be exactly, our prediction may be not accurate (wrong).

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

One thing we must understand is the fact that most newbies are all in for the profits and this mentality gave them a wrong idea of the true nature of the market, their belief the market should only go.in the uptrend direction.
This is so because Bitcoin is viewed as a get rich quick investment to most newbies but to the ones, once you have gained a good knowledge of the market and its volatilities it tends to reduce your FOMO level and never minding the market conditions rather you take advantage of the market and buy whenever you can and also sell at the right price.

There are a lot of people who invest into crypto with the money they may need to survive and live. Which is the main problem that these people are facing right now. If they had any clue how to invest properly, they would just ignore the drop and even maybe buy some more and just keep on waiting.

We have seen it go up a million times and go down a million times and it always reversed. I believe that this will reverse as well, we will be 68k+ and break ATH one day, maybe next month, maybe next year but I do know that it will happen.

This is why I do not care about these falls anymore, it really doesn't change anything in my life, my investments "lost" a lot of value today, and I mean A LOT, but I am fine, why? Because I do not want to sell them anyway, I will just keep holding them and they will gain value one day.

bitcoin has experienced a decline yesterday there was a decline to the price of $29k and now it's back to the price of $31k. bitcoin has a fast recovery and sometimes the decline can't even be predicted by anyone. so when there is an opportunity to buy then it's a good idea to buy and be able to get a profit as quickly as possible without having to wait a long time.

Currently Bitcoin is in a condition that can drop below $ 30k, today drops more than 5% and if there is no big surprise from influencers then I'm sure I can drop below $ 30k, and if that happens the opportunity to continue to fall is very large , and this is a good moment to buy.

Sp we are getting closer to that? because the price drops below 30kyesterday but recovered and got back to 31k immediately and this is really thrilling because the last stand of bitcoin is returning back to 38k before continuously fall at the level now.
and now we are looking for another fall?

sad to say but we are seeing this to be the bear market  starts now lol.

               Well, I sure hope that you also took some short positions or at least didn't make long positions. I managed to rake in a bit of profits for small scalps. Still though, despite the price dropping this much, I am still expecting to see some reversal half way through the month and we may even see huge pumps. Don't bank on it though, these are just my personal speculations. And if you do follow, keep the capital at the minimum and don't over leverage. The market is in fear but is also itching for tons of buys.

I'm not even brave enough to say $29K was the lowest point during this crash. Bitcoin is still down trend so the strongest support in my opinion right now is $25K. Granted we can't find definitive indicators to judge when a trend reversal occurs and bitcoin can break through resistance, but I'm sure in a while we will enjoy a recovery.

The market really can't hold back the panicked traders, it has made the $30K support pretty easy to break, but now the price is starting to get a little better where $31K would be a good starting point to expect it to break through the $35K resistance.

We could really able to say on what support Bitcoin does have basing with those indicators that we do see on our charts which we could presumably anticipate that we would really be dropping precisely into those point

but look at on where we now?  People had been expecting or anticipating only on 35k bottom support but we are playing around even more below which does  also have the tendency to drop as long of 28k

which it has been always that unpredictable i would say where you couldnt really tell on where would be the possible bottom before it would make out some full u-turn.

The cryptocurrency market being volatile in nature makes it hard to predict the next trend of the market and it is also the main thing that makes the trend that the market posed to always surprise us.
I agree with what you said about the current market price being a good opportunity to accumulate because one of the golden rules of making successful investment in crypto market is to accumulate when there's blood on the street but I was opening the eyes of people to the market downtrend reality because some people are hoping for the $100K price this year.

Bear Market has just started, it cannot be said when there will be turning point to raise again. However 35K is a reliable place but btc price decrease more. Nothing can be predictable at the stage until we get new movement of btc price. The market will rise, but it may take a while.

you've just posted when the price of Bitcoin drops down below that 35k actually this had been posted at 34k and now dropping badly to 31k .
this bearishness will continue as i predict 30k will be the lowest?
but lets hope for the best result if we are a Holder or we are to sell now and hide from the dumping market.

25k price is the minimum am predicting this season I have never believed that the $35000 will be the limits this season Bitcoin will go deeper than that and possibly down to the 20k level.