Bitcoin price is in a downtrend, will it last long or temporary? - page 5.

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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?

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

Leaving aside proudhonian statements, and in a more serious way: the normal thing to happen if what in previous cycles is repeated is that in the next 2-3 months we will see a big price rise that beats the previous ATH and clearly exceeds $100k. If this did not happen, the predictive models that we see commented every day in the forum would have to be rethought.

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Next month is just two days from now. The price of Bitcoin is less than $42,000 right now. The China FUD is still strong despite it having been heard over and over again. There are indeed steps done by the government against Bitcoin but it is not something new. China has been against Bitcoin before. Just recently, Bitcoin mining had just been ordered to move out also. But since all this still has an impact to the market, I think October cannot see Bitcoin rising to $60,000. $50,000 is possible though.

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It seems, at the end of this month, bitcoin gets another correction again.
If that correction is not going deep, people can still calm down, but if the correction is deeper, I am not sure new investors will calm down.
But I still believe that bitcoin, no matter how deep the price will be, will increase and back to $50k-$60k and we were still given the best chance to buy more bitcoin from this moment.
Saving every satoshi we have and earning more satoshi is something that we should make right now before the price starts increasing, which means we will be too late to do that.

FinneysTrueVision

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I am choosing to remain optimistic. I had some big purchases planned for this month and was counting on the price remaining higher so that I wouldn't have to spend so much BTC. Now is the opportunity to be stacking sats instead of spending them so I've made some tough choices and made adjustments to my budget. I am hoping the news cycle will be more positive next month but with the hostility we are seeing by many governments and a struggling economy it may not be so easy.

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Nothing is permanent, no really, it isn't permanent, it should go back up sooner or later, you just have to wait. It's the usual Bitcoin market movement tbh, not to mention that there was also some FUD news when China banned Bitcoin for the nth time, it's nothing serious. If I were to give a time frame, it would probably go back up by the end of the year or so, though a dip from where we are isn't that unlikely still. I'm more inclined with it going back up to $50k before the year ends though.

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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?

It is wrong to mentioned that Bitcoin specifically in downtrend because if you will check the whole market is in Blood season now

https://coinmarketcap.com/

not only the number 1 coin but almost every coin in market is dumping now.

But about the question if this will end long or short? none of us knows mate , yes there are opportunity that this is the Bear we are all waiting to re invest but this can be also a correction to start the Bullrunning .

China's effect take place in this for sure but this won't long .

Rajamuda

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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.

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IMO we are approaching a very critical moment, if the $40k support will be broken, Bitcoin can start freefalling because it will be viewed as a sign that we're entering a bear market, so traders will rush to dump it while it's still high. I won't be surprised if Bitcoin will quickly go below $30k once the crash starts. But on the other hand if this support holds there's a good chance for recovery and a new rally. Basically, whomever guesses the trend right now can make a lot of money, because the risk is high.

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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?

This has been the trend every year, it looks like September is not a good month after all. Let’s see if Bitcoin can recover in the Month of October and be able to stay above $50k, I’m still bullish with Bitcoin so I’m more confident to end this year at the level of $50k, we have to stay cautious and invest only what you can afford to lose.

It's a normal downtrend because people are in the FUD of China and South Korea recently news of banning crypto.

But I personally think that there's a bull season within this year maybe next month or it might be in the last quarter of this year as most anticipated others that there's a bull market during that period. I think as we experienced now is a normal correction from the sudden increase last week. As I see, there's no infinite growth of Bitcoin price, it's always followed by the correction right after the pump.

Another factor is, someone has to move a large amount of Bitcoin based on Whale_Alert report and it might have ab effect on the Bitcoin price.

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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?

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..

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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?

We just need to see if bitcoin keeps its movement above the stong support level of $40k zone or not because it could dump a lot to hit the lower zone of $31k-$29k in the worst case scenario. But we could see a mega bullish rally if bitcoin breaks the strong resistance of $50k and make 2-4 weekly candle above it. So it'll be best to keep monitoring these price level as of now. Wink

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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?

I've dropped my crystal ball and it's at the repair shop until tomorrow, but i expect it go, as usual "up and down and up and down".
Now on a more serious note, nobody knows for sure. On the long term is should rise. But when will it start towards new ATH I don't know yet.
Since it's a speculation thread (NFA), I'll say that it should start rising pretty soon. At least I hope so.

ice18

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Strong support at 40k level so expect this pullback is just temporary and will not last long, maybe because most investors are hesitant to enter the market right now because of China, and many are still waiting for more dip to finally enter again, next month is another bullish month for bitcoin according to history so you must watch the market closely if you want to enter bitcoin.

Turbolinea

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I'm having my doubts about that this boring period can continue for a long time. Because I still want to believe that the market will start entering a better period in the next month. September has always been very unlucky for Bitcoin price. We always witnessed it struggling in this month of every year. I hope to see a good rally or a bull run to see Bitcoin and the rest of the market starting to recover.

Lucius

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Given the news coming from China and South Korea, it makes perfect sense that the crypto market reacted, although I don't see anything spectacular here - but for most of those involved in crypto in any way, any bad news seems to easily turn into a disaster. The thing is, it’s very easy to create panic, which then results in panic sales, and in that game, the weak hands are always the losers - while the other smarter ones profit.

I personally think we are closer to a return towards $50k than a return below $40k, although no one can predict any new market manipulation. Most expect at least $100k by the end of this year (which is possible), but let's be prepared for any possible outcome - because we started the year with $30k, and there is a possibility that it can end at a similar level.

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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?

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