Topic: Bitcoin Price Can Fail and Will Touch Be US $ 13k Dollar? (Read 1007 times)

Who is manipulating the market for God's sake? What is happening with Bitcoin is pure economics and it is good that you know that the USD has to drop for Bitcoin to rise. The whole market atmosphere needs a change of sentiment from being risk averse to risk appetite before it could rise. But inflation will not let this happen for now. Also, the printing in the US is moderate compared to the last 2 years and it won't be a major factor in pulling down the risk-off market like the USD for Bitcoin to rise.

You are right, a lot of these people crying foul here have converted their BTC into USDT and other stablecoins waiting for the Bitcoin to rise. This is not helping, and as the crypto drops further, more panic withdrawal would happen and it would pressure it further. To further with, no impactful news is holding Bitcoin down, it is mainly the impacts of high inflation, negative speculations and more expectations of the rate hikes by the FED this year. The global economy is not helping either, so it might take time before the bulls shine again.

I always tell people that they should not hope but rather speculate through viable trading analysis. Nothing is hopeful in the buying of Bitcoin as of today, and as a fact, it is more bearish as the daily chart bearishness is agreeing with the weekly chart's overall bearish trend. I'm afraid, this will keep the price of Bitcoin down till next month.

Many posters on BTT are peculiar with the $17-18 level, and this might be happening in the outer world as well. So, per virtue of my trading experience, sellers would be building up at that level. To be specific, the main support is at 17,626.00 (June 2022 low), a break below it might not be funny as it might make Bitcoin slip down to below $10,000 if care is not taken.

The first range he will try is already between 17 thousand and 18 thousand dollars. Yes, as you said, there is a nice support here. If it breaks, 13 thousand dollars will be inevitable. The market has been stable for a few days now. A sharp move is possible with any news. The Fed chairman's speech today will more or less determine everything.

Lots had been hoping that the price would be shooting up since we've been sitting low for a while now and without any signs or sentiments that might push up the price into higher level.

If ever the price drops on 13k then i had already prepared myself into these kind of possibilities but it seems that there's a solid support in between 17-18k levels which means that whenever we do see

that this support would be broken then there's a high chance or most likely we will be seeing this 13k but for now everything is still speculation but its not bad
to make yourself that prepared most of the time.

The accumulation process in Bitcoin continues.Normally, I think we should be seeing $17,500 now, but market makers seem to be waiting for something.A sharp move up or down is possible. It would be very risky to take trades.I hope we fall to 13 thousand dollars. That is my hope.

Bitcoin has repeatedly been doing the same after sharp price rises. It corrected. The difference being that a correction in Bitcoin means a massive movement in price. The volatility is higher on average than in other asset classes, of course depending on what you are trading.

My guess is that Bitcoin didn't drop so low from 69k because the masses lost confidence in further price appreciation. I think we reached a point at that time where large holders, institutional holders might have decided to take some cash off the table. During those rising prices the difficulty also increased and mining facilities might have decided to invest even more into hardware. At a certain point they are literally forced to sell some of their holdings in order to not run into financial deadlocks (as some indeed did).

So big investors taking profits, mining facilities and exchanges taking profits, and miners taking profits created downward pressure and that is when the retail market becomes sensitive to those price developments and starts panicking as well.

Although we all believe the price will not return to $13k, it still has the possibility of a sharp decline, especially if many bitcoin holders are panicking, seeing the market trend being influenced by negative news. We have also seen what happened when the price could hit $69k a while ago and at that time, we expected the price to go higher but in reality, the price went down sharply and even we saw the price was once at $17k. Therefore, whatever happens to bitcoin later, we don't need to panic; if the price decreases, it will be our opportunity to buy more bitcoins.

Definitely each and everyone of us has our own understanding on how bitcoin works, that's why it's best to hear both sides, specially if you are on the other side of the spectrum.

Just like what this discussion his, before we never thought that bitcoin after reaching a new all time high of $69k will go below the previous all time high, it hasn't been seen before in bitcoin young data. But since we have touch $17,500 as our lowest low, probably there will be individuals who might think that $13k will be the bottom price.

well it may or may not  but what is important here is that the advantage of buying in lowering market than in climbing  , I know that we are heading for another Bear market as this is still a dumping year before halving , but like what I said? i still have some funds in my USDT that only waits for conversion to bitcoin anytime the market shows bearishness again and dumps below 15k this time.

The Mt. Gox coins might be the pressure for the market in the next coming weeks and hopefully it will not be worst as we expected. But I do agree that the lowest low might have been hit this year already, although the price of bitcoin might just be hovering above it, most likely in the $21k-$30k range (lowest low is $17,500). And again, this could be another great opportunity for us, $21k is still very attractive price. So maybe for some of us, we can remain calm till the end of the year, specially those who know how to take advantage of every dip in price.

What I want you to understand is that everybody have its principal and it way of understanding how Bitcoin will arise and how Bitcoin will fall. so it is depending on the the instrument a used for analysing devalue or the validity of cryptocurrency. I believe that everybody have it reasons of analysing the falling and the rising of Bitcoin hold the predictions is not what everybody believe. As investor you most ensure that you read your own chart to understand exactly when it will rise

It has been a topic for a while now but I think that a lot also depends on the decision of the people who will soon receive their Bitcoin from the Mt. Got hack. I think that the amount isn't sufficiently high enough to crash Bitcoin's price brutally, but still high enough to send it South quite a bit.

I believe it must be quite tempting for people to take the profits. Considering that they had to be afraid for so long to not get their Bitcoin back, it is now even more attractive to realize profits immediately upon return of their funds. It is essentially an automatic profit and should also be tax free in some jurisdictions.

Now that we are so far away from the ATH many of those Mt. Gox victims might also be tempted to let Bitcoin climb back up as they see the potential in it. But I would expect the majority to sell.

As I said, it will try the first 17-18 thousand dollars range. Right now the market is green but I think it's fake. Soon the journey towards $18,000 will start. I don't know the average cost of corporate companies, but I think mtgox will distribute 140 thousand btc towards the end of the month. If it is true, it is already possible to see 13k dollars.

13k would really be a very harsh drop to say the least. I believe that buying pressure would significantly rise the more we approach the 10k USD mark. A while ago someone posted a graph that showed how the relative pullbacks from ATHs declined over time. If we were to see 13k USD that would represent one of the biggest drops in Bitcoin's recent history. The first two to three years were a permanent roller coaster, but it seemed that the drops were less significant over time. Nos with institutional money also looking for smart entries and good timings, it would require them to stay quite passive when Bitcoin would drop all the way down to 13k. We will soon find out I guess but for now I think it is a more realistic scenario for Bitcoin to hold the 15k mark at least.

You remember that he managed to come back here again by getting a reaction from around 17 thousand 500 dollars. Since it is experiencing an uptrend by getting a reaction from here, I think it will test this place again in the near future. If long positions accumulate again after that, we have a high chance of seeing a decline again. This time we will have a higher chance of seeing 13 thousand dollars. Of course, that's my opinion. Time will tell us whether it will happen or not. This is the scenario in my head for now.

Bitcoin price $13k which is not relevant. If it is happen with btc then it is not possible to imagine how many years the market will be in bearish. As far as I know, $17K is a big resistance if it breaks again, the market can go on a large dip. However, I am sure that ordinary people will try to hinder Bitcoin in their account if it is worth $13K.

It is interesting that people are forgetting that US dollar has been dumping over the past 6 months and due to the inflation everything including bitcoin should go up against dollar. The only reason why it is still struggling to break $25k is simply due to 2 reasons: weak hand's uncertainty and market manipulation.

For price go lower against dollar, either US economy has to fall apart or dollar has to strengthen (deflation) which is not going to happen considering how much of it they've been printing nonstop.

bitcoin had previously dropped to $17k due to the luna crash causing panic in the market, but then bitcoin went up to $20k and stayed there for a long time before moving to $23k and quickly then to $25k. unfortunately, it didn't last much longer and was adjusted shortly after

yesterday, bitcoin dropped quite quickly to the $21k area and it remains above $21k for today, it is very difficult to predict if it will drop below $20k again or not, but $13k is a level I don't think is possible
the worst cases have passed so there is no reason for bitcoin to drop to that level

It is going to be interesting to see if the price actually goes that low, right now the price is going down once again but it refuses to go below the support level of 20,000 however I have no doubts at all that the bears will try everything they can so that support is broken, and this is because they know that if that happens a new round of fear and uncertainty will sweep the market away, and not only that, they will get a huge opportunity to make money when bitcoin goes down but they will also be able to buy it for a very cheap price and reduce the average price at which they bought their coins as well.

I think yes, it needs to touch. In other words, if we are expecting a healthy rise, I think it is right for it to go down to these levels. After getting to this point, the whole cryptocurrency market will breathe a little bit easier. So most altcoins are still at higher prices. Why should I buy them here when they should fall further or when I can buy them at lower levels and hold them for a long time. We can see first 18 thousand dollars, then 13 thousand dollars.

We are almost certainly going to feel a little bit of downside pressure in the coming weeks.  How low it goes is anyone's guess really.  I'm not super worried about that because I think once this final dip is behind us, the market is going to reward those who held onto their coins.  One more new low, then off to new highs.  It may take a couple of years, but I think the future is bright for the BTC price.  Just stay calm for a month or two.