Topic: Bitcoin may not hit $24,750 again in 2023 - I'm bullish till 2024 (Read 505 times)

The chance of BTC touching mid $20k in 2023 is not very bright. I think the BTC price will gradually increase to $45k at the end of this year. This is important for the BTC's next bull run. The price might see a slight dip in the first quarter of 2024, right before the BTC halving event. Afterwards, the price will surge steadily and reach a new ATH somewhere in 2025. BTC ETF approval might trigger the new ATH earlier than expected.

Anything is possible in this market. That's why you should never speak for sure. At the same time, it is necessary to keep cash in case the prices of our investments may decrease and to look for opportunities to buy at a low price. Therefore, acting with the idea that nothing is certain in the market allows for more solid action.

Just as no one predicted that the Luna and FTX incident would happen, there is a possibility that there will be other events that may happen in the future. That's why it is necessary to be careful in the crypto market.

I wish people could just understand that. The predictions, the assumptions, all those made up things are fake, it's just thoughts we have, it's the analysis we make, none of the mare real. Just because I check through some data and think that it will happen like this or that, doesn't mean that it will happen that way, I could be very wrong, we do not really know what's going to happen, we just need to make sure that life is not all that simple, we need to arrange something that could change in the end.

Hopefully not everyone could end up with a life that could be all that different, we need to realize that we can't really have all kinds of different situations, we need to be careful about what we are doing and not consider our analysis like a rock solid foundation that can't be wrong. We could very well be wrong, so we need to make our analysis, but we need to be also careful about being right or wrong, we need to be making sure that things are ready for anything.

Just a few minutes ago - a correction occurred, making the price of bitcoin touch the level of $35,800. A new support level has formed and it is now time to expect a follow-up rally to test its strongest resistance at $40K. I also believe $40K is a possible price given the positive trends and rumors so far - but the possibility of failure remains.

To fall to the $30K level again then we need to get negative news that hurts the market. Large investors are starting to believe that a bitcoin ETF will soon be approved - but if it is ultimately rejected, then high volatility in the market will allow the price to drop below $30K again. Current fundamentals are still good - but I hope that won't change soon.

The current bitcoin chart is not showing any sign of reversal any moment. All the indications are pointing towards 40k which is very possible this year. Even 45k is also possible but I cannot tell about 50k this year, however, 50k is eminent in the first quarter of next year.

Talking about the bear market. I know that bitcoin is going to cool off from now till halving and that cooling off will be the momentum to take off for the bull run. The bitcoin price will definitely drop but I am not sure it will drop below the 30k radar.

I encourage you to be a fan of Fibonacci because it works. I've known this tool for about 18 years and it works well especially when used on larger charts. It has worked again this time, hurray!!!

There's no guarantee in the market, we are all speculating. Simply because I called a condition doesn't mean I know the future 100%. But guess what, my regular analysis of Bitcoin is now over 95% accurate. Thanks to training and dedication. Should I now see a market scope and still be shy to call it out despite my track record? I guess not, and this is not in any way an endorsement, we are all traders and speculators after all.

If you pay attention to my chart and analyses, you will realise that the first one is for the long term, an indication that the market is heading for its much anticipated bullish run that will eventually hit the ATH again. I never predicted that it would happen this year, it's just an expression that Bitcoin is creating its bullish pattern toward the expected bull run.

But of course, the second which is the Fibonacci analysis must happen this year, and thankfully, it has happened already.

Sorry about your experience in trading, maybe you need to learn better by yourself and trade to earn conveniently all by yourself. I encourage you as this is possible, and reliance on people's analysis might not be the best since you don't know their true capacity. But for me, I pride myself on this forum that all my trading commentaries are still 100% accurate to date, that's aside from instinct plays. This is why I encourage you to also learn trading from the right sources and you might begin to see things differently.

I congratulate you once again my friend, keep smiling to your wallet... . Frankly, there is no need to rush in this case, Bitcoin will reach the mooooon. But if at all you would liquidate your position over time, please, ensure that your technical chart guides you, let the weekly and monthly charts be bearish, that's only when you can be sure of the start of a bearish leg.

Do you really think that after all these years of China "Banning" cryptocurrency that they haven't been buying any themselves? In fact, do you think that el Salvador is the only one who is buying?

China is one if the countries who would never openly state their purchasing of BTC. Overall, they are a subtle country after all. Did you see their rise to economic dominance coming? No one did...that's the perfect example of their subtleness...

My point was that China would have BTC Reserves, as would the US and all other countries, which they can pull the trigger on the market at any time.

China are already doing a similar thing with the international property market. Exiting those markets and causing liquidity problems for infrastructure projects around the globe. There's no reason they wouldn't do the same to Bitcoin if they wanted to.


If corporations take the SEC to court, it could be another year or more away.


Keep on HODLING!

Don't worry about the other short to medium term noise. Best case scenario it's just another buying opportunity.

And those two moments are so highly anticipated that they make the Bitcoin market very bullish and can exceed our expectations.
But there will also be some FUD coming before that happens, usually, this is only done by manipulators to be able to get a cheap price before the mega-bullish happens.

Usually, issues or FUDs in the past will be issued again to affect the stability of the Bitcoin market, and even this continues to be repeated.
Major media will spread the news.
As retail buyers, we must be aware and vigilant and not fight the swift currents created by manipulators.
Follow and Buy if the price is cheap again, don't waste the opportunity.

Bitcoin will reach the target of $100k ATH at least if we are strong enough to hold it and strong also in terms of psychology.

If you look at the way the price of BTC is running in this month of November, you will know that bear run will soon clear road for bull run to take over, and it will be difficult for $24k to occur till the price reach $80k next year for hodlers to use the opportunity to make more money from their investment. Well, there is still time to buy from the market now because the price is still low for your to buy as much you want because the price will not reduce more than the present price $37k it is in the market so that you will not regret when the price come close to $50k december.

It will be good to hodl your BTC now because, what is coming after this step the price of BTC is now, it will make those that are waiting for $20k before they can buy regret for the wrong decision they took.

After the collapse of Luna and FTX, the market went into a long bearish trend, which resulted in the Bitcoin price falling below the all-time highs. However, there is no guarantee that such an event will not occur. Moreover, we cannot give any such guarantee on the trading platform. But a lot can be predicted on market conditions. We can definitely say in the current situation that the market will be bullish now but as the ETF approval is still pending we cannot be sure that it will be approved. So before next January we may see bearish trend in Bitcoin again which is not impossible. But the possibility of Bitcoin price down below $16000 is difficult.

I am not expecting to see Bitcoin retrace back to a price below 30k$. The is the time i am expecting Bitcoin to reach 40k even up to 45k. This is because every end of the year the price mostly foes up and if it continues this way we may still see a bullish market at the beginning of first quarter 2024 even before the next halving comes.

Indeed 2024 is an interesting year for Bitcoin and as usual, expectation is high. If by any chance the Bitcoin ETF is approved together with the halving activities, chances are that Bitcoin may record a high that is beyond expectations.
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You sound very certain that the approval of the Bitcoin ETF will bring about a positive change. Am sure of the halving but i have not yet seen any advantages that the Bitcoin ETF will bring. I'm just wondering how they will represent bitcoin and whether the price movement of the ETF will be directly linked to the real market prices on DEXs and CEXs.

I was of this opinion before but for the fact that Bitcoin is heavily influenced by news, it is safer to keep an open mind. A single negative news can send the price dropping by over $10k. At present, it is not clear if the much awaited Bitcoin ETF will get approved, if that be the case, market will react rapidly heading south. This is not my expectation though but it is a safe way of approaching the market.


Indeed 2024 is an interesting year for Bitcoin and as usual, expectation is high. If by any chance the Bitcoin ETF is approved together with the halving activities, chances are that Bitcoin may record a high that is beyond expectations.

We do not need another black swan event as this could badly affect the crypto prices and to be honest, if bitcoin reaches again below 20K, it will be the beginning of another bear run. I do not think this is going to happen.

I do not know but I feel that during the bear season, we see one bad news after the other while in the bull market, we see good events, one after the other. I do not know how it is possible or if these events are preplanned according to the sentiments and phases of the market. Though it is hard to believe still i think that everything is not transparent and there is manipulation even in the timings of the black swan events.

I think the Bitcoin market may not go below $30000 in 2023. Currently, since the end of 2023 is just one month away, we can definitely say that the price of Bitcoin will rise upwards. We've seen the Bitcoin market rise rapidly over the past few days and it's not going down much, but rather up. If currently the Bitcoin market can grow further and touch $40k dollars, then we can say for sure that there is a possibility of further growth in 2024. As Bitcoin halving takes place in 2024, we may see the market turn somewhat bullish again. According to the current position of the market, we can say that the market will touch $40000 dollars by the end of this year.

Obviously, DCA is the key. Do not worry if bitcoin price won't touch below $25k again as that does not mean that you would stop buying bitcoin immediately. If you are here to invest for long term, then regardless if the current price is high, you would still continue to buy bitcoin at your own spare money so that you will not be left behind when everyone else around is taking a lot of profits in times of bull run while you are stuck with few number of bitcoin.

Sky is the limit when you are doing DCA. Do not fear for the current price surge for bitcoin, but fear that you don't have good amount of bitcoin when bitcoin amount has already reached its maximum price limit.

Expect the unexpected as always on which this market could really move totally opposite on what you have anticipated or expected on which means that you should really be that come prepared
on whatever things that you are encounter. Be sure to be wise on making up your position whether you should buy or sell then success will really be that determining on how well you do
really do these things and we know that not all would really be having the skills on doing so. The price might be playing around on 35k but doesnt mean that it wont really be going back down on 25k+.
Always assume that chances is there and this is why always save up some money for making some buybacks or DCA because you could actually be able to get that kind of chance
or opportunity once the market would really be correcting.

Absolutely - I see the same side and tend to agree with what you say.

Same here - but this may be a coincidence. I have set long-term targets instead of short-term and thereby have made me ignore price volatility. Of course it has made me a little calmer even though several major corrections have had a bit of an impact on my optimism for a while. Everything is still under control and I hope the trend will continue.

Nothing has ever been certain in this industry. The industry is a place where anything is possible to happen but even at that we gauge by sentiment to read the market. The sentiment ATM is bullish as the market is already basking in the excitement of a fresh halving.

I'm more disposed to taking a long position on Bitcoin than a short.as it's now, no matter whatever price correction I perceive. I don't want to be trapped. Any correction now is likely more of a bear trap.

I also personally believe that it will be difficult for bitcoin to drop below $25k again. We will still have corrections but there may not be a chance to see another big dump.

@Latviand: you don't need to pay attention to what the OP and we say. You are investing with your own money, so do your own analysis so you don't regret it later. If you still believe that bitcoin can fall further then stick to your plan, and it's not just you, I see there are still some people who think like you. Instead of buying now, they still wait for the price to drop to accumulate bitcoin.

$50K before the end of the year seems possible - but not certain. The upward trend in prices during November to date has been quite good - but this has been driven by rumors about the approval of a bitcoin ETF. I'm not entirely sure a correction can be avoided if the SEC ultimately rejects a bitcoin ETF - so it remains a possibility and it would be advisable to consider the risks.

As of today - bitcoin is still trading between $34K to $35K. Several times bitcoin still failed to break the $36K resistance and the price returned to around $35K. If that resistance is successfully broken - then I am confident in saying that $40K and above is achievable.

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.

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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?

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.

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.

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.

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.

I'm not a fan of Fib but it still works in the market. There is another reason why the price reaches to such level. We can also see the FVG at 38.2 Fib, which is also one of the areas that the market can go to because the market always seeks liquidity to fuel the price into the opposite direction. Apart from that, we also see resistance levels on that area. So if we combine them all, the probability that the price will go to that level will increase. The more confluences, the more chances.

thanks for congratulating mate, and yes I will still keep this coin till end of the last bull market .

I was planning to take this longer at least 2025 if the market keeps growing or maybe consider letting go half of my funds in the price i targeted at least 80k .

Saw one of your comments where you analysed similarities between the present market condition and 2015/2016 scenario.  I think you are very correct and going by that, $45-48k is feasible by December ending. If that happens, then we might not see price below 30k again for a long time.

If it also happens that the Bitcoin ETF got approved by January 2024, then all is set to test rhe present ATH before the halving in April. These are projections that are base on probability,  so we should not take them as investment advice.

If you’ve been accumulating, you don’t have much of a problem now again. The price you’re expecting it to come down to may not be realistic again, you just have to buy at the current price it will be when you have the money with you. That could be the lowest price you’ll get it at that time, don’t miss the opportunity of not buying at that price again because of your expectations of having a lower price than that. We all know that, irrespective of the market conditions, bitcoin price will rise in the year 2024.

All these are basically predictions, either Bitcoin pumps or dump are you in a position to take advantage of the market? If yes then you did well for yourself because honestly no one knows what will come up tomorrow,  good or bad it's not going to stay forever, I took some profit after Bitcoin makes it way to 35,100 value, I believe there will be some retreacement and if I am wrong I still have some big bags of Bitcoin anyways, I believe there is nothing wrong in taking little profits, but if you have the money you can just concentrate on dollar cost average every week.

Do not follow predictions, I learnt this the hard way, I missed every opportunity in crypto because I followed what people are saying, some are intentionally misleading people for their own exit strategy, almost all the things that people said won't work in crypto ends up working, that includes a few numbers of good crypto projects, let your mind works for you, do your own research and if mistake comes you learn a lesson, this will reshape you for the better, compare to blindly following someone predictions.

If Bitcoin dumps have a plan of buying more and make sure you hold your Bitcoin and keep prepepaing for possible bad news or even tighter recessions, something might happen to use against Bitcoin holder so that they can dump their Bitcoin, but believe me its a trick to steal your Bitcoin from you at lower prices.

Well I think the year 2024 will be times for new all time highs for Bitcoin. After the halving and we are going to see 'bullish' signs and we will be rewarded with profit.

The digital assets financial services platform Matrixport thinks Bitcoin price will be $125,000 in 2024. https://cryptopotato.com/matrixport-says-bitcoin-is-in-its-fifth-bull-market-could-bitcoin-minetrix-also-be-poised-to-explode/

No one really knows on what would gonna happen which considering that the market could really be easily to face up some issues which would drag down the price into those levels that we arent anticipating that it would really be that going low. So far we are really that holding well on 33-34k price which it seems that 35k would really be a tough resistance to be broken but doesnt mean that we wont really be able to do so yet most likely we would be able to reach up 40k+ for this year which it seems that it is really that a realistic approach rather than into those speculations in speaking about 1 million per coin or 500k which it is really that a delusional kind of approach. As we are fast approaching on bitcoin laving then expect that there would really be always those unexpected movements or events that would be encountered along the
way and its never been that something new and this is why each of us does have that different approach and actions that do make out because this market is always been that unpredictable.

I think that is the target price for the majority of us, at least $40k-$50k at the end of the year will really be nice. And we are still moving in that direction though, currently $33k-$35k, and then when we have a break out run then in the next couple of months $40k-$50k, so let's see.

Not sure though what will be the bullish news to push the market, it's too early to look for the Bitcoin Spot ETF as the source of positive news. It might be better, if by chance the approval will happen next year to coincide with block halving and then the eventual bull run. Just need some patience as we are looking for at least $100k at the all time high, so pretty much very excited for next year.

If you intend to to HODL the Bitcoin you want to buy for a long time then I'd say you can go ahead and buy. The price of Bitcoin now is around 33k and I have always speculated that Bitcoin will reach $35k to 40k before the end of the year. I agree with OP that Bitcoin won't see $24k again this year but that doesn't discourage you from buying.
If you intend to HODL then you might still make a lot of profit after Bitcoin halving next year. Hodlng Bitcoin for a long time is a great investment.

It's all speculation, nothing is certain. Bitcoin might drop to $20k before the end of the year or get to $40k, we never really know so if you're hodling just buy it when you want. It's best to buy the dip, but if you keep waiting for the dip, you might end up buying at a higher price.

Just because you are late and you regret not buying enough before you see it increase doesn't mean that you are going to be right. I think it should be noted that we can't really make a huge difference to the market right now and that can't really be the reason for it.

I think it should be noted that we are going to end up with a good return one way or another and that could be the case for the long term. I know that it may cause some changes here and there but we need to realize that life is not all that simple neither. If they are late, then they are late and we can't do anything about it, market will not fall once more just so they would buy some more, and by all means, if it drops, they would probably wait for it to drop even more before buying anyway.

I want 45-48k by dec 31 2023. I think it is possible. would be nice for me.

A correction occurs when the price decreases from a temporary high. And now it looks like it's still happening but there's a reversal that still wants the price to keep rising and get above $34,500 or so. Long-term investors will obviously not sell their Bitcoin at the current price but will buy more.

Let's hope $35k breaks in the near future and can stay there until the end of the month. And in the next month, Bitcoin price could strengthen again and get an upward push. Let's hope it's true that the price will reach $50k by the end of the year.

But whatever happens, we should remain alert and prepare some money to buy Bitcoin. A flash dump may come quickly and then escalate to return to the previous price. Moreover, the market is now at the weekend when there is usually a correction in the market.

Let's say we will never dump again in below $30,000 again until this year. But what if next year, when most of the ETF deadlines will happen and there's no one ETF will get approved? I believe the price of Bitcoin will react. The question now is how dip we will get just incase for that? Below $25,000? For me, it depends on the price of Bitcoin in the future when these things will happen.

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.

I never again expected the price of bitcoin to fall back to the $25k level after it broke through the $35k resistance this month. Of course bullishness is more expected than a correction or bearishness in the rest of the year, but both should absolutely not be ignored considering that it is always possible to see a correction and test new support levels.

There is high confidence about $40k to $50k by the end of the year, of course that is a very realistic price to expect after seeing how quickly prices recovered at the end of October. We'll go to $36k, $37k and $40k, of course that's the hope.

Even during bull season, there will be small incidents that cause the bitcoin price to correct, so we should not be surprised if there are events that cause the bitcoin price to drop between now and the halving. But I believe the main trend of the market will still be an uptrend. Bitcoin may be correct but will soon recover and continue to increase. That's what's happening this year and things will continue that way until the bulls arrive.

Yes, bitcoin has gone high and I agree with the OP, we are unlikely to drop below $24k again. Things changed for the better when bitcoin crossed $30K.

The pump is caused by the news and the approval ratings of the ETF. Many companies including Bloomberg made their predictions about the ETF and they are all positive, some even stating that it has 90% chance off being approved. That makes people buy bitcoin now.

At the same time there's some natural causes like the fact that bitcoin used to stay at around half of its all time high price for months before and after the halving.
in 2013 ATH was 1100 dollars and the price before the halving was sitting between 500 and 600
In 2020 ATH was 20000 dollars and the price before the halving was 10000 - 12000
Now ATH was 68000 and price before the halving came is above 30000 so we're right on track.

It seems that the price movement of Bitcoin has been favorable this year. We can observe an uptrend despite some setbacks, possibly due to the upcoming halving and the numerous news surrounding it. In my opinion, the bullish trend will likely continue into the next year. However, we should still be prepared for other possible developments because we are aware that there are other factors that can influence the value of Bitcoin.

We need to spend a long time at these levels to ensure stability at the current price. The damage to the economic structure in the world and wars may prevent this stability. So we will all see whether the price will stay at these levels for long.

We should not think of Bitcoin independently of world events. Bitcoin is not an investment known to a limited number of people as it used to be. The whole world now knows and invests in Bitcoin. It is very difficult to predict which direction Bitcoin will move when global events are happening. You should make your investments considering the risks.

When you say that nothing is certain in the Bitcoin world, it's a reminder to be careful every step of the way. We all want the Bitcoin price to go up, but we should also remember that we need time for many things.

There are way too many people who end up getting emotional about money, and that's the number one mistake without a doubt.

You can't get emotional about money, it's a made up thing to keep people in control and there isn't really any value in it, see the magical aspect of it and you are going to realize that money can be tricked, and people can be tricked as well, so while you may end up losing it time to time, just use your psychology to turn that into a profit and not a loss, and just realize whatever you are feeling ,could be what the market is feeling and then you could trade accordingly to make some money. I understand it may sound like an evil thing to do or immoral but there is nothing that prevents you from doing it.

Nothing is sure and certain in the world of Bitcoin/crypto. I wouldn't bet on your prediction. It is completely possible for the BTC price to hit 24K by the end of 2023. First of all, I'm not sure what caused the current price pump to 34K. Is it a bunch of crypto whales buying BTC aggressively or some very bullish news about Bitcoin? I don't see anything new in terms of bullish news about Bitcoin. I don't think that the current price pump will be steady. It's most likely a short term price bubble, that will pop and the price might return back to 27K USD or even 25K. October has always been a special month for BTC. Last year,'s October, there was the FTX drama and a BTC price crash, while in October 2021, the Bitcoin price hit levels above 54K USD, if I remember this correctly.

I don't see any correction though, on the other hand, the bullish momentum continues to $35k. I guess even if there is fake news that push the market, it seems that investors are not going to sell right now. So as we break the $35k barrier, we will be looking on the next target which is $38k. If we did break it this month or at least November, then possible that we might reach $50k at the end of the year.

And this is what the OP has seeing based on his charts, we have a break out Fibonacci and it could linger till the end of the year. Although he said that $35,865, the highest we go so far is $35,150 which is very close to his prediction.

Let's hope what @OP hopes for happens. If it survives until next year, we should feel happy because Bitcoin could have a chance to rise again next year. But there is no guarantee that the price can remain at the current level because today's correction caused Bitcoin to experience a decline of several hundred dollars.

We also need to find out how long this correction will last, especially since we are only in the middle of the week. Usually, a correction will come at the weekend so we can get ready to buy more.

But no matter what happens in the market, if the price has yet to reach above $50k, it is still a good price to buy Bitcoin. I'm still waiting for a while to see where the Bitcoin price moves to know when I can buy.

The Bitcoin market this week posted the highest growth we've seen in 2023. Where compared to other months, this month of October has seen the most bulls and prices have increased rapidly. Since in 2023 we see Bitcoin price at $35000, we can expect Bitcoin to basically hit $40000 by the end of this year. As the Bitcoin market has seen a lot of growth over time, we certainly expect to see more Bitcoin price lows this year. And the Bitcoin market in 2024 I expect the price of Bitcoin to reach $60k dollars and later when Bitcoin is halved then its price will increase relatively. A bull market will start after the bitcoin halving, and then the bitcoin market will reach higher highs.

I agree also that in the short term for the remainder of October certainly we could
follow the current trend but there will be situations where the Bitcoin market will be
over-bought and then over-sold. The market doesnt just keep rising, or falling.

I think I would definitely agree though with the OP's point that we wont be going
back to ~ $24,750


I would say there are a few people still holding for a dip in the price to but Bitcoin
on discount!

I'm not being pessimistic though, I already have a considerable amount of bitcoin in my wallet and I just want to add more to what I currently have because I know that the pump is getting ever closer and I want to make sure that when that happens, I am not going to be saying to myself that I should've bought more bitcoin. I don't know much about how other countries plan to release what they currently have but one thing that I am sure of is that BRICS won't be doing anything, I am pretty sure that they're all currently infighting right now so they're not going to be influencing the bitcoin market or the global market anytime soon.

If you go on by saying this is possible for the rest of the days in October then i will say you're probably right, but assuming for the rest of the year is still a long way far enough for us to say we will not experience more bearish trend than bullish may be another thing to consider, though one can phantom this from the chart for a possibility, but if you're to consider the nature of occurences in the cryptocurrency economy today, nothing can be predictable on a long run like this, we will keep on speculating more to see how this may stay base on the chart subsequent results.

I'm not 100% sure you are serious about this, but what wealth of China are you talking about when it comes to BTC? Do you even realize the total value of all BTC in circulation compared to China's GDP? No country except El Salvador has officially announced that it buys and holds BTC, and everything else is just speculation and conspiracy theories.


Nothing is certain until the SEC makes an official announcement, and that could be in a month or in some 4-5 months at the latest, but it is obvious that moves like this signal that something is happening in the background. If nothing else, people have begun to understand a little bit what this is about, and whether it will be something that will change the rules of the game when it comes to large investments in Bitcoin remains to be seen.

The spot ETF will be good for the price (at least in the short term), but in the long term it is not in favor of Bitcoin.

It seems that you are trying to “guarantee” us that it would not touch down $24,750 anymore. Correct me if I’m wrong though, but anything could happen without warning like another FTX level type news that would trigger the market to go down and experiencing more liquidations.

Yes we’re bullish for 2024 but I wouldn’t rule out about another big pullback before the year ends. Black swans are always there and can trigger anytime and we have to be prepared for the unexpected.

The bears are also hoping for that black swan to come. Their recent short positions are liquidated because they’ve never expected this to happen. Same thing goes later on if there would be another big FUD incoming.

So time will tell if your predictions are accurate or not. But let’s just hope so and always anticipate the unexpected happenings. Just my two sats.

It's not an analysis though, we really don't know. We can even say that we won't see another lowest low, the last low we had is during the FTX drama, the price goes down hard to $15,500. But still though, there could another black swan even that could happen next month.

In any case, we will continue to accumulate no matter what. If you have chunk of money coming in then by all means buy as much as you can regarding of the price. Same with me, I remain positive that in the next 6 months I can still buy more. So we still have a lot of time.

Always expect an anomaly.

My guess is that a country will start to liquidate their supply in order to hold it down, if anything were to happen. At the end of the day all countries are at war. The west, the east, Russia, china, US, Israel, middle east, etc. Not primarily a war of violence, but an economic war. Bitcoin is mixed into this war as well. War is not just government, it's people too. I am sure China will eventually move all wealth from BTC to Digital Yuan and cause some form of crash. Maybe even the entire BRICS ecosystem, or, the US will do it themselves. Especially considering they are having problems in their housing market (which will effect a lot of the countries they have also invested in)

Let's also keep in mind that the IBTC SPOT ETF addition to the nasdaq clearing house is not an indicator that it is approved and wil l he traded. However, it's notable nonetheless.

Pessimism aside, today was a significant day

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.

First, let me congratulate those who bought Bitcoin late last year and in the wake of 2023, especially those who own/hold it. The last post-halving lowest level hit was in November 2023 at $15476, and such people might have struck it around that price or at a price around $16600 which is the 2023 opening price. As usual, 2023 is no doubt a dramatic year for Bitcoin as it had its fair share of both buy and sell moments, only that it was unable to hit back the opening price of the year, and with what I see now, it might not see that level again possibly till after 2025.

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.



A weekly chart Fibonacci analysis might have hinted at the bullish trend as well. Fibonacci prevented the market from buying for several weeks, but eventually last week, Bitcoin prevailed as it breached the weekly chart Fibo level of 23.6% at $27,952 and even had a close above the level. This, coupled with the bullish price action above the level, I believe Bitcoin could hit the Fibo level of 38.2% at $35,865 over time. This is what it would be determined to achieve in the remaining months of this year as it shies away from the prominent lower levels hit this year.