Bitcoin may not hit $24,750 again in 2023 - I'm bullish till 2024 - page 2.

gunhell16

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Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

That's the OP's assessment, dude; it's up to you to believe it or not. He only says what he thinks are the possible things that can happen based on his reading of the chart according to the technical analysis he did there.

Since the market is unpredictable, it is possible for them to happen or not happen. Now, in my personal opinion, bitcoin will still have a drop price according to my understanding of its graph chart and will probably dump between 30k$ to 31k$ something to have more liquidation,
then proceed to 40k$ target price in my assessment.

Mpamaegbu

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Quote from: posi on October 27, 2023, 05:16:16 AM

It's not just you, many people don't want bitcoin to drop back to $25k, but there are still some people who are expecting it. Those are people who haven't accumulated a lot of bitcoin because they think the market will have another big drop and bitcoin will drop to $15k. But I think they will soon be disappointed after seeing what has happened in the past few days. But you're right, we also have no guarantees that bitcoin will no longer drop below $25k.

I was pessimistic about the $40K goal by the end of the year but with everything going on, I think it's achievable.

You're right. It's crystal clear now that those who were in expectation of Bitcoin hitting $25k won't have their dreams fulfilled. If anything, the halving wind won't make that possible. We're at the last quarters of the year now, nearing halving and Bitcoin is trading around $35k and I don't see anything that will push it down that far now. It's already on the uptrend as we've seen price push out. Who knows, we might likely hit $50k before year end.

GeorgeJohn

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Bitcoin price is rotational and also unpredictable because from the looks at things the price of bitcoin doesn't stay constant or consistent at random, but when peruse into bitcoin you know that, especially people who is into the investment of Bitcoin, so what I really want to comprehend concerning the price is that the increment can be something that may increase today and get decreased tomorrow so the price of bitcoin every year differs

boltz

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Quote from: philipma1957 on November 04, 2023, 07:42:42 AM

Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow. A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

As much as I would love to see Bitcoin at 500k$ for 2025, I find it quite impossible in the next bull run and the there are so many arguments to sustain this affirmation : wars , conflicts , expensive goods and so on. However, you're right about Bitcoin going by the end of the year as I could see Bitcoin price soaring towards 40k or even more and I expect to keep moving in this direction for entire of 2024 Cool

flyingcarpet

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Quote from: goaldigger on November 04, 2023, 12:45:18 PM

Quote from: philipma1957 on November 04, 2023, 07:42:42 AM

Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow. A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

This is very optimistic and also a possible scenario.
Yes, DCA is the best thing to do if you are bullish with Bitcoin and this might be the last thread that we will see the price of Bitcoin at a cheaper price. Bitcoin continues to hold on its current position waiting for another momentum to pump, think long term and stay positive with Bitcoin, better price are coming.

Yes, I think this is a very optimistic approach. You need to consider every possibility. I think there is a possibility of price correction. Because a continuous price increase is not possible during this period.

I agree with you about DCA. Regardless of the price, it is best to buy regularly because I think it will take longer to reach the target prices. However, all decisions should be yours and you should manage your money yourself.

There is also a possibility of the scenario and there are many people who have such expectations. However, sometimes we do not know how the market will react to speculations, so every possibility must be taken into account.

bestcoins1

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Quote from: goaldigger on November 04, 2023, 12:45:18 PM

This is very optimistic and also a possible scenario.
Yes, DCA is the best thing to do if you are bullish with Bitcoin and this might be the last thread that we will see the price of Bitcoin at a cheaper price. Bitcoin continues to hold on its current position waiting for another momentum to pump, think long term and stay positive with Bitcoin, better price are coming.

The current Bitcoin price is also a very good price when compared to the price in the previous two months, because being at $35K like now is a pretty good price improvement for Bitcoin holders who are waiting for the best momentum in the market. Currently, it is still good to continue doing DCA because it is almost a good thing to do at any time for anyone who wants to increase the amount of Bitcoin in their wallet or before releasing it at a more appropriate momentum.

justdimin

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Quote from: philipma1957 on November 04, 2023, 07:42:42 AM

Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow. A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

Or late? But, there might be a good reason for it. It's not bad as if they only procrastinate or doubt about BTC. They are lucky that BTC still forgives them. It believes that anybody deserves a chance, even not a second. By the looks of his words, it seems that he is already DCA'ing and he will definitely continue, but I see no point of stopping it if ever $24k something occurs. He rather should buy more than usual if he wants more discount, as he said he loves discounts.

The only way for him or us to stop is when the price sky rockets really high because this is the moment for releasing our bags. Your call of $500k for future ATH seems too high for that year but if it happens why not? I'm also going to be thankful for that.

LogitechMouse

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Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

Of course there will always be a chance that it will still happen that's why OP used the word "MAY" to make himself safe. Cheesy

Kidding aside, like OP has said, I'm also bullish for the next months until 2025 when I expect that the bull run will at it's peak. Well, I'm a believer of the 4 year cycle as I saw it happened 2x already (2017 & 2021) though I still believe that there's a chance that it might not follow that cycle. After all, the market is just full of probabilities, and there are no certainties.

You can still accumulate even though the price is increasing. You just only need to put a set price where if it reaches that prices, that's the time for you to stop, or at least lessen your accumulation of Bitcoin. On the other hand, if you still believe that Bitcoin will rise then I guess just continue accumulating. Just don't buy when it's at it's peak though.

Captain Corporate

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I have to point out that dropping and bear periods are a normal part of crypto world, so if it ever happens, we wouldn't be really shocked about it and that's why its not going to end up being all that weird. However, we need to realize that we are not going to end up with a result like this ever again probably, yes I wouldn't be shocked if it ever happens, but I do not think that it will happen. The best thing to do at this moment right now would be just expecting a bigger increase and a bull run because its going to be something special with the halving coming up. I understand its not going to be right away, but eventually we are going to get there and that's why I doubt it will go down anymore.

goaldigger

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Quote from: philipma1957 on November 04, 2023, 07:42:42 AM

Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow. A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

This is very optimistic and also a possible scenario.
Yes, DCA is the best thing to do if you are bullish with Bitcoin and this might be the last thread that we will see the price of Bitcoin at a cheaper price. Bitcoin continues to hold on its current position waiting for another momentum to pump, think long term and stay positive with Bitcoin, better price are coming.

Franctoshi

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Quote from: EarnOnVictor on October 23, 2023, 11:54:07 AM

My quick monthly chart analysis reveals that Bitcoin started its bullish journey after bottoming at $15,476 and a trendline support close to that level was never broken ever again to date. Instead, a bullish price action formed above that level, and the two bullish interpretations guided the market higher till this year amidst some turbulent rides as you can see with both bearish and bullish candles on the chart. The summary of the view this year judging by the whole candle pattern shows that it's all bullish. But this never hinted to me the assurance that Bitcoin might not know $24,750 anymore this year until there exists a double-bottom at the $24,750 and also a rekindled bullish price action right above the level.

For this, the recent bullishness might linger till next year, and I don't believe we would see the coin hitting $24,750 anymore in 2023.

Op, I'm also in agreement with your point of analysis because having Bitcoin break such a strong resistance which the price formed at around $30k-$31k, and got rejected several times, from the technical analysis point of view a resistance break is turned into support, Therefore I expect in turn, That such level will act as strong support when the price comes into that zone, So, with just roughly two months before the end of the year, I doubt if the price will go below $28k let alone going back to test $24k, except if there is an event that will bring us way down to the price.

philipma1957

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Quote from: Latviand on October 23, 2023, 11:56:53 PM

Are we really sure that it's not going to? I hope your analysis is wrong because I've been slowly accumulating bitcoin and I have another upcoming big money coming and I want to make sure I'm buying a lot of bitcoin for a discounted price. But hey, if that's not going to be the case, I guess I'll just buy bitcoin in December and hope that I still get a lot of bitcoin value out of the money I'm going to get.

looks like you have been too slow. A suggestion is just keep on Dca ing even as btc slowly moves to 42k then 48k by years end.

Sky is the limit here 500k by dec 2025 is approachable.

cryptomaniac_xxx

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Quote from: hugeblack on November 04, 2023, 04:50:51 AM

I tend to agree with you. The price showed a strong resistance level at $24,750, so that the price bounced from it repeatedly when it touched the price of this level. Therefore, it is logical to say that the price broke two resistance levels without very bad news. Therefore, we have levels at $30,900 and $27,779, which if broken, the price will be unable to break. $24,750 in normal condition.

This does not deny that we may return to levels of 30k.

yes, it short there are resistance levels along the way before we can be broken to $24k'ish. And as the price goes on $34k and higher, the harder it's gets to go down at those levels. And it just shows that the market is really very bullish already last month and it might go till the end of the year.

Although we wanted to see lower price is we are still in the accumulation phase, but it seems that those days are behind us now. The price is going on a bull run and I'm seeing that around $40k-50k might be the end price this 2023, pre-halving.

hugeblack

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I tend to agree with you. The price showed a strong resistance level at $24,750, so that the price bounced from it repeatedly when it touched the price of this level. Therefore, it is logical to say that the price broke two resistance levels without very bad news. Therefore, we have levels at $30,900 and $27,779, which if broken, the price will be unable to break. $24,750 in normal condition.

This does not deny that we may return to levels of 30k.

Dave1

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Quote from: AmoreJaz on November 02, 2023, 06:59:14 PM

Quote from: JoyMarsha on November 02, 2023, 05:00:35 PM

The bullish trend from the end of October till the beginning of November made me realize that we are not going to see a declining movement of bitcoin that will hit the price of bitcoin below $25k again.

Lucky are those people who bought bitcoin when it was $25k and are still holding it till now. The uptrend movement of bitcoin has started this November. I wonder what will make it fall to the $25k, that so many of us do not want to see such a price again, we are even aiming for a higher price of $40k upwards before the end of the month.

but when btc was way below 24k and the market was bloody red, people were hesitant to stash btc because they were afraid that it may continue to go down.
well, that's the feeling of most users. they will only appreciate this market once it is heading to the positive direction.
as we don't know what other happenings will come in the next coming months, seems that we are in for a treat as we overcome the 30k level and the vibe is still positive in this market.

Well it's two fold, there are "smart investors" who continue to accumulate when the price is below because they know that it is a the best opportunity to buy. For those who are afraid or shall we say waiting for the price to go down, then it's their fault though. That's why it's advisable to not really wait for the price to dip because it might not happen.

So if we have that capital, I will say just to continue buy bitcoin regardless of the price.

And if you are looking for long term, then that is also good as you will really make a lot of profit if you are going to sell it at the bull run next year.

AmoreJaz

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Quote from: JoyMarsha on November 02, 2023, 05:00:35 PM

The bullish trend from the end of October till the beginning of November made me realize that we are not going to see a declining movement of bitcoin that will hit the price of bitcoin below $25k again.

Lucky are those people who bought bitcoin when it was $25k and are still holding it till now. The uptrend movement of bitcoin has started this November. I wonder what will make it fall to the $25k, that so many of us do not want to see such a price again, we are even aiming for a higher price of $40k upwards before the end of the month.

but when btc was way below 24k and the market was bloody red, people were hesitant to stash btc because they were afraid that it may continue to go down.
well, that's the feeling of most users. they will only appreciate this market once it is heading to the positive direction.
as we don't know what other happenings will come in the next coming months, seems that we are in for a treat as we overcome the 30k level and the vibe is still positive in this market.

JoyMarsha

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The bullish trend from the end of October till the beginning of November made me realize that we are not going to see a declining movement of bitcoin that will hit the price of bitcoin below $25k again.

Lucky are those people who bought bitcoin when it was $25k and are still holding it till now. The uptrend movement of bitcoin has started this November. I wonder what will make it fall to the $25k, that so many of us do not want to see such a price again, we are even aiming for a higher price of $40k upwards before the end of the month.

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Quote from: Woodie on October 29, 2023, 08:13:23 AM

I think we aren't in the clear just yet because the distance between 33k and 24k isn't much for us to say never for 2023, and the fact that we have seen price drop over 5K in a blink of an eye several times in Bitcoins life span shouldn't give us the confidence to be cocky. Btw if price can go up by 5K then it can pretty much go down 5K too, but hoping it stays in the green as we come to the end of the year.

Quote from: EarnOnVictor on October 23, 2023, 11:54:07 AM

This chart is on the monthly and the anticipated move can actually take years to go back up should it start consolidating or anything in those lines, but with the halving, ETF approval in the pipeline we could see some huge green candles to record a new all time high.

All the possibilities are there on which its never been ideal on making yourself that confident that the market wont really be making out some fast dumps just like on what it did when it pumped +5k easily.
Basing up on the image then seeing into those candle stick pattern and trend line then it do really shows that it would be taking up long for it to make such upward movement or simply with recovery but we know that
this market is really that highly reactive when it comes to news or fundamentals on which it would really be just that might that changed up the overall impression into those people who had been anticipating for something that it might follow to those kind of patterns which we know that there would really be no assurance to that.

We are gradually heading now to halving event on which we should really be expecting that more news and events that could happen along the way on which it would really be that determining
on what would be the market trend as we do go fast forward ahead. Its inevitable but its better to take up positions before it would be late or been leaved by the train.
This isnt something that we do like to happen. Arent we?

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Quote from: Nrcewker on October 29, 2023, 07:33:42 AM

Definitely there is no way that Bitcoins will fall that much low in this year. Moreover I guess Bitcoins will keep on moving up. The reason why I am so confident because, we have seen Bitcoins follow a 4 year cycle pattern and 2024 is the 4th year for Bitcoins to reach new ATH price. We are now close to 2024, so definitely from now it won’t fall down. I am not saying that the bull market started, but yes, now Bitcoins are looking very strong atleast.

Well, I have to agree with you, with all the current developments in crypto, like the coming halving which you mentioned, and the current specifications about bitcoin ETF being approved by the US security and exchange commission (SEC), which I personally believe have been the major catalyst driving the current bullish momentum in bitcoin and some other major cryptocurrencies, the chances that bitcoin will back down to even $25,000 this year again is very slim.

And besides, we just less than 80 days before this year runs out, i am not going to say that there is no chance at all for the price of bitcoin to fall back to that price level, but like I said before, the chances of such happening is very slim.

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I think we aren't in the clear just yet because the distance between 33k and 24k isn't much for us to say never for 2023, and the fact that we have seen price drop over 5K in a blink of an eye several times in Bitcoins life span shouldn't give us the confidence to be cocky. Btw if price can go up by 5K then it can pretty much go down 5K too, but hoping it stays in the green as we come to the end of the year.

Quote from: EarnOnVictor on October 23, 2023, 11:54:07 AM

This chart is on the monthly and the anticipated move can actually take years to go back up should it start consolidating or anything in those lines, but with the halving, ETF approval in the pipeline we could see some huge green candles to record a new all time high.

Topic: Bitcoin may not hit $24,750 again in 2023 - I'm bullish till 2024 - page 2. (Read 517 times)