Bitcoin price is in a downtrend, will it last long or temporary? - page 4.

Kyraishi

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Quote from: Rimueng on September 28, 2021, 09:03:00 AM

The downward trend in Bitcoin prices has continued since a few weeks ago until now where the bitcoin price is still at the level of $42k. Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?

Nobody can tell you whether it will rally in the next month. The markets are irrational and random at the best of times.

But in the long run, if you are a long term bitcoin believer, you shouldn't even worry about price.

1 BTC is 1 BTC and it will go up naturally as fiat depreciates over time. These short term moves are peanuts in the big scheme of things.

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Quote from: proudhon on September 29, 2021, 12:08:20 PM

I've proven it will continue indefinitely from here.

Let's not scare people just like that Wink

All you've proven until now was that you don't really exceed at making good predictions (and I may be overly kind)
Hint: people, just look at this account's history.

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Quote from: Rimueng on September 28, 2021, 09:03:00 AM

The downward trend in Bitcoin prices has continued since a few weeks ago until now where the bitcoin price is still at the level of $42k. Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?

When you ask that Bitcoin will reach 50-60k exactly in next month then this is very hard to say. Because nobody can guess the future that something can happen in exact/little time period. And in general, the market condition is not good, this seems like bearish. So if I think it in general , this will not happen in my view. But anything anytime can happen in crypto.

But when you ask that Bitcoin will reach 50-60k in the future or in next some years then I will say this is really possible and will happen.

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Quote from: Rimueng on September 28, 2021, 09:03:00 AM

Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?

I've proven it will continue indefinitely from here. There will never be another all time high for bitcoin. Sure, there will be occasional price increases, but those will be just noise within a larger, proven downtrend. The price of bitcoin will never again go over $50,000. From an investing point of view, bitcoin presents a great short opportunity from here on out, forever.

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Quote from: Anonylz on September 29, 2021, 09:13:03 AM

Quote from: NeuroticFish on September 29, 2021, 04:07:52 AM

Quote from: pooya87 on September 29, 2021, 01:10:54 AM

Since the FUD campaign hasn't ended and is only growing

I am confident that they'll be running out of ammo.
The news about Twitter tipping together with those about BitPay/Verifone partnership seem to already get stronger than the new (LOL) "China ban".

But, on the other hand, it's better to not be overconfident either.

I can't wait for those news to be in their face, China always trying to screw the market over every opportunity they get with their fake crypto ban news, am glad the market is gradually getting use to those fud and the impact the getting less, it will fade out eventually.

People will learn about that and will not think much about their negative news so hopefully, they will calm down whenever China spreads more negative news like before. That will not work anymore in the future, especially when people know the real fact or the motive behind that news. Besides that, I think China will use the other method if they think that the market is not impacted by what they say. They will use many ways to make the crypto market fall.

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Quote from: mr500 on September 28, 2021, 11:30:05 PM

Before telling something about this topic we should see previous years particularly September and October .These months are under down market cap .Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation BTC price is temporary downtrend but not permanent or long last .

Indeed, the condition of the Bitcoin price which is currently falling is a natural thing. Fundamentally, I believe the price of Bitcoin is still strong and still showing strengthening. This can be seen from the significant number of Bitcoins leaving the exchange. Therefore next month the price of bitcoin will go up again.

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Quote from: Rimueng on September 28, 2021, 09:03:00 AM

The downward trend in Bitcoin prices has continued since a few weeks ago until now where the bitcoin price is still at the level of $42k. Will Bitcoin's downward trend continue ...

Let it dump, we don't have control with this unless if people don't sell their Bitcoin, then it could help. But the fact that we are in a volatile market, that seems to be like and does it worth worrying about? Maybe we should have to understand its feature and this downtrend make someone to benefit for this, rich people and some investors will never take this for granted, they surely put money for this.

Quote

or will it return to the $50,000 to $60,000 price level next month?

There is some reason why we think that and that is because it has happened already in the previous days. And besides, some experts thinking more, $100k? Well, we have to touch first to $60k as it was close to the possibility.

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The market trend is downward, and for time being there is regular price fluctuation. This market trend seems to continue for some time period. Even after marking little bullish trend the price once again drops down. There is more possible chances of downtrend for long time period. More users are getting into the market. At the same time more negative news is getting circulated around. Maybe a big positive news will change the market trend.

Anonylz

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Quote from: NeuroticFish on September 29, 2021, 04:07:52 AM

Quote from: pooya87 on September 29, 2021, 01:10:54 AM

Since the FUD campaign hasn't ended and is only growing

I am confident that they'll be running out of ammo.
The news about Twitter tipping together with those about BitPay/Verifone partnership seem to already get stronger than the new (LOL) "China ban".

But, on the other hand, it's better to not be overconfident either.

I can't wait for those news to be in their face, China always trying to screw the market over every opportunity they get with their fake crypto ban news, am glad the market is gradually getting use to those fud and the impact the getting less, it will fade out eventually.

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Quote from: Rimueng on September 29, 2021, 06:57:37 AM

Quote from: Rajamuda on September 28, 2021, 08:36:54 PM

I know what you feel, It's ok bro, just prepare new investments to respond to this, this certainly doesn't mean that bitcoin doesn't have good hopes ahead, profits are still there for the long term.
Although it can't be confirmed exactly, it would be nice to stay optimistic and patient, it will definitely touch $50k again and even more, just don't be despair.

I hope so. however, the impact of China's vigorous spread of FUD has a profound effect on bitcoin and altcoins. Bitcoin has been stuck in the around $42,000 range for weeks after dropping from the $52,000 level it hit in early September.

Did you see a huge reaction of price towards that fud? No right we are still seating at $42k which is not bad value for bitcoin to reach at the moment although we know that it touch to the figures you said but consider also that dumping scenario is pretty normal knowing crypto market is volatile, maybe slight panic contributes on this dump but for sure we cannot see this last for long time and bitcoin will recover back and reach another good figures this year.

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Quote from: Rajamuda on September 28, 2021, 08:36:54 PM

I know what you feel, It's ok bro, just prepare new investments to respond to this, this certainly doesn't mean that bitcoin doesn't have good hopes ahead, profits are still there for the long term.
Although it can't be confirmed exactly, it would be nice to stay optimistic and patient, it will definitely touch $50k again and even more, just don't be despair.

I hope so. however, the impact of China's vigorous spread of FUD has a profound effect on bitcoin and altcoins. Bitcoin has been stuck in the around $42,000 range for weeks after dropping from the $52,000 level it hit in early September.

davis196

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Quote from: Rimueng on September 28, 2021, 09:03:00 AM

The downward trend in Bitcoin prices has continued since a few weeks ago until now where the bitcoin price is still at the level of $42k. Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?

Is has been stated many times on the forum that:
1.September is a bad month for Bitcoin.
2.China FUD strikes again...

Are you so desperate for a 50-60K Bitcoin price?It's not the end of the world,if the Bitcoin price remains under 50K for the next months.I was expecting a bull run by the end of the year,but everything will be fine,if such bull run doesn't happen.A new Bitcoin ATH will be delayed for the next year,I guess.
Of course that Bitcoin price trends are temporary.It doesn't matter if it's a upward or a downward price trend.
Also,It depends of what do you mean by "long".It can be several weeks,a few months or a few years.
If we are talking about Bitcoin,long term means several months.

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In the last 7 days, there were so many times that Bitcoin price had ups and downs. In this situation, it is not easy to predict whether this downtrend will last very long or not. But there is still an expectation from the market to have a bull run soon. I hope that it really happens and we get rid of this dire condition of the market. Otherwise, I will start thinking that we are in another bear market now.

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Quote from: mr500 on September 28, 2021, 11:30:05 PM

Before telling something about this topic we should see previous years particularly September and October .These months are under down market cap .Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation BTC price is temporary downtrend but not permanent or long last .

Previous month Bitcoin prices trend may not replicate the current trends and we may have different price actions in coming months.

We need very bullish news to pump the market because right now it seems that Bitcoin will fall below 40,000 in few days.

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Quote from: Lucius on September 29, 2021, 05:10:13 AM

What we forgot to mention is another negative story that has spread to the media like the extra infectious virus - and that is that Bitcoin mining causes the generation of huge amounts of electronic waste - every transaction is, according to some researchers, the equivalent of throwing 2 iPhone Mini in the trash. It’s not exactly China or SK magnitude news, but we all know what it’s for - to convince environmentally conscious people that Bitcoin is bad for the environment - I wonder how many of them have given up investing precisely because of it.

Sorry, but I don't believe that. I am sure that they've missed or mistaken something big. But I didn't spend time to research more (life is too short to spend on every news).
And it's not at the same magnitude as the China FUD because:
1. I think that, like me, there are many that didn't believe it.
2. The China news, if it would be new, could have devastating effect on the markets and price (many Chinese users dumping their coins), while humans produce huge quantities of waste every second and not many care.

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Quote from: Poker Player on September 28, 2021, 10:37:08 PM

It will continue to fall and will never recover. It will reach 0 and disappear, lol.

Don't be so negative, some will scare and dump everything they have - I've heard that some don't understand lol as laugh out loud, but as an acronym for a lollipop🍭 Grin

Quote from: pooya87 on September 29, 2021, 01:10:54 AM

I think a good news about the weird trend we've been seeing ever since April is that to some extent this trend has broken the 4 year cycle and we may finally see a new cycle with very new trends form from now on. This could potentially mean no huge bubbles and no 12 month long bear markets.

The next 3 months will give us an answer to that question, so if we don't have a new ATH, everything that happened before will become a thing of the past. In that case, those who often use the saying "Past performance is no guarantee of future results" will finally be right (when it comes to Bitcoin).

Quote from: NeuroticFish on September 29, 2021, 04:07:52 AM

I am confident that they'll be running out of ammo.

I don't believe that will happen, they have enough ammunition to continue to affect the crypto market. What we forgot to mention is another negative story that has spread to the media like the extra infectious virus - and that is that Bitcoin mining causes the generation of huge amounts of electronic waste - every transaction is, according to some researchers, the equivalent of throwing 2 iPhone Mini in the trash. It’s not exactly China or SK magnitude news, but we all know what it’s for - to convince environmentally conscious people that Bitcoin is bad for the environment - I wonder how many of them have given up investing precisely because of it.

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Quote from: pooya87 on September 29, 2021, 01:10:54 AM

Since the FUD campaign hasn't ended and is only growing

I am confident that they'll be running out of ammo.
The news about Twitter tipping together with those about BitPay/Verifone partnership seem to already get stronger than the new (LOL) "China ban".

But, on the other hand, it's better to not be overconfident either.

pooya87

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It is not easy to say, as it was mentioned the drop and staying in $40k range in the past 22 days is because of the "negative news" and the panic sells. Since the FUD campaign hasn't ended and is only growing we can't expect a reversal anytime soon even though not that many weak hands are left to panic sell!

I think a good news about the weird trend we've been seeing ever since April is that to some extent this trend has broken the 4 year cycle and we may finally see a new cycle with very new trends form from now on. This could potentially mean no huge bubbles and no 12 month long bear markets.

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Quote from: Chrystora123 on September 28, 2021, 05:35:10 PM

Quote from: Rimueng on September 28, 2021, 09:03:00 AM

The downward trend in Bitcoin prices has continued since a few weeks ago until now where the bitcoin price is still at the level of $42k. Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?

bitcoin to $50k or $60k next month? maybe will maybe will not. China is aggressively spreading FUD for bitcoin and it will have an impact for some time to come. after the fud subsides and people have forgotten about it then the price of bitcoin will definitely go up again..

I believed the FUD from China had began to reduce and not too strong going by the price of bitcoin reaching the support at $40500 and not being able to break or penetrate it, the impact from the banning of cryptocurrencies related activities in China dumped the price from $48K+ to $39K+ thereafter the price couldn't break that support zone, going by the recent Price Action it look like the support had rejected the price to move upward with a day to the end of September an indication of likely a bullish trend next month.

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Before telling something about this topic we should see previous years particularly September and October .These months are under down market cap .Crypto currency is one of the best investment platform in whole world. Where bitcoin is more profitable and secure investment which we have already proven. So in this pendamic situation BTC price is temporary downtrend but not permanent or long last .

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