Topic: Bitcoin Resisting the below twenty thousand level (Read 545 times)

there is no such thing as Bearest mate , or the lowest ? nope we have seen 17k recently so how would you expect that 20k to be the lowest when we are far from the so called Bull year in which 2024-2025 to be expected?
for now staying at 20k is not an assurance because any moment it will full back or go up who should know?

I am not here to expect bigger instead what i wanna see is a strong positioning of Bitcoin.

but that only last till last night  , because now? we are down by 13% and still decreasing I'm afraid if this will stay longer because it looks like the bear starts covering again and there will be more lowering coming from today.

There are some thread created to be 10k-15k price , so lets see when this come to fall.

Really strange to see it struggling with 20k so much and at the same time being extremely oversold.
They pumped the dollar like never before and it's scarring people away from investing, which actually is great if you know what you're buying and are ready to hold for a year or more.

We'll probably see one last move to a new low, maybe 17k? and then we'll see who's the believers are.

I don't think we need to wait for that day, as the market plunges below $19k now. And even if we believed that there is no movement in weekends, there are a lot of sellers putting a big pressure and so the $20k support line has been broken.

Of course there is no need to panic, on the contrary, it might be good to buying, if the price remain at $18k or even goes down again because of the Fed meeting and the speed on how they raise the rate hike and how big is it against their projection this month. Also, there is the CME future contracts that are also going to expire in the next couple of days, so I'm expecting the price to tumble again.

Maybe not as big bullish as last year but maybe a gradual price increase. And if that's the case, we can be a little happy because our chance to earn bigger profits will come. And we still have about 3 months before the end of the year arrives.

But if the bitcoin price doesn't jump too high by the end of this year, we can only follow it and hope that we can still make a profit, even if it's not much. In the last quarter of this year, many possibilities can happen so we must be more patient and keep waiting while preparing ourselves for the arrival of the bull market.

Yes, we're on the weekend so there won't be much volatility. However, next week, we will have a big test coming up when the Fed will hold its meeting on September 20, and 21, and we will see how it goes. This will be the last test of September, I hope the results will not be too bad for bitcoin as well as financial markets. If we can't hold the $20k support then I think we will have a new bottom for this bear season. No matter what the outcome of next week will be, just don't panic, fight to the end we will still be the winner.

Incredible rally? From the low so far in 2022 to 20k is maybe only over 11% max rally, that's not incredible when we think how much we've sunk from ATH, or even how much BTC sunk from the CPI, similar percentage, should we also say that was an incredible drop off?

As soon as I read someone saying you'll be rich from bitcoin if you buy it before it gets more value, I know that person immediately doesn't even buy bitcoin and probably speculates on altcoins.

After the incredible rally to the 20,000 dollar level, it is highly recommended how one can predict a market with such uncertainty and volatility. yes, instead of taking precautions to protect ourselves from loss as much as possible. This may sound common, BTC is a safe haven currency that has been favored by many investors around the world, due to its high potential in investments and commodities. Even though it has faced some challenges in its penetration into society but as many financial experts have predicted about its promising future, bitcoin is an asset that you need to invest in now before it gets more value and makes you rich before 2023 from now.

I wouldn't call this a battle but $20k for btc is very easy. Just wait because this flash crash is not done yet but once it's over, we can always get to the price that you really wanted. And what is that bulls you are talking about?

I think there are no bulls yet that occurred because bulls for the crypto market could mean that the price is at a higher level, and not on the level that we are commonly seeing. It was only bitcoin alone who is trying to protect its value to not fall on lower levels but other altcoins are doing fine and they are also doing their best to reach more heights before bitcoin catches up on them and overcome their value.

I don't think we should expect or bullish this year, the market has obviously turn into a bearish one, and this is due perhaps to the 4 year cycle that we are all familiar with. $22k will be biggest re-test if we are going to hit it, but it's doable for this year.

We are entering the last quarter of the year and it seems bleak, but as you have said, if we are here for the long term then we might as well take advantage when the price of bitcoin is still at the $20k range. We are all experienced already, and so there's no need to panic sell, in the end, those who have patience in this game will win.

we can't for sure know what will happen next in this market. but the sentiments are still positive as people are hoping for the bullish run to come. but for now, it is on you how you will prepare with this unpredictable market. still even if we reach the 22k level, it is still a good time to accumulate more if you are eyeing long term for this coin.

Market tries to build the momentum and go above $20k. This has been taking place for a long with bitcoin moving between $19k and $22k. This weekend have started with market full of green. So this can make the changes in the price to the range close to $23k which will be followed by altcoins. For now ethereum is expected to show some good progress.

bitcoin still resist to cover 20k again and that is what the market says now

https://coinmarketcap.com/currencies/bitcoin/

What I do believe is that the twenty thousand level is the basis price and yes we can see that there are  so much happening nowadays and we will see more of this in the coming days as we are near entering the last quarter season.

And we are still battling the $20,000 support line, since we have this flash crash this week. At least the bulls is trying it's best to protect this price and it now stands at $19,833.

So it will be a uphill battle again, nevertheless it's weekend so not expecting any price movement that will push the price below. The test will be next week again, we will see if we can get to that $20,000 level and hopefully we will maintain it and then hit $22,000 the highest price that we have been so far in the last two months.

Partly and then we had the report of CPI that affect the market recently.
Of course, there is the war in the background that we have to take into consideration. The Mt. Gox rehabilitation, that will be ongoing for the next couple of months might also give an impact. So there are a lot of parameters that is still be coming our way.
And so, I wouldn't be surprised if we will continue around price, $20k-$22k till the end of the month. And for the minority, this is a time to accumulate as you have said, at $19k the price is still very cheap.

It is undeniable at this point that such news had a profound effect on the market and it seems its effects are still in place, however I wonder how long is this going to be the case? After all there must be some kind of limit to the effects of those coins being sold, but with speculators and the bears fanning the flames then this drop could last for a long time unless there was an increase in the demand, but something like this seems unlikely at this point.

I %100 believe that neither inflation nor whats going on in the stock market matters to crypto as of right now. The main reason why we are seeing such a big deal is the fact that mt.gox basically spread a news of 2+ billion dollars worth of bitcoin being sold to pay mt.gox victims. Not saying it will or won't happen because I do not know what will happen, but I know that many people sold because of that. Mind I remind you we were 24k+ just recently before that news, and dropped to 20k after the news, was our inflation superb when we were 24k+? No it wasn't, was the stock market awesome during the same time? No it wasn't. So the only thing that changed became the mt.gox news and nothing more.

The global inflation crisis has way too much negative impact on the stock market and that is visible in the price of Bitcoin as the market has been struggling to sustain a stable price and possible break out which has met a lot of resistance in several weeks, and this global crisis has no end in sight any time soon,  but given the positive outlook of many developments and attempt it won't take much time before a possible breakout will occur but that breakout will start from decentralized assets such as Bitcoin that ks out of government control and is only open to market demands.

The global economy is facing widespread economic meltdown which has accompanied the post covid recovery phase and many stocks are going to be held down for some time so possibly between twenty thousand and thirty thousand Bitcoin price will be witnessed for a long time, possibly in the next four months we going to be cycling around that range.

I think the price is waiting for both sellers and investors.

Yesterday we saw the price was at $19k and I placed a buy order that my order filled and now the price is back to $20k so I decided to sell it again and withdraw my profit.

That is why we must always be ready for whatever will come in the next few hours or days to make a good decision based on the conditions immediately.

I already sell it when the price increases and take my profit

It's highly likely we just keep rebounding within a 5k range this side of Christmas, which I'm personally okay with. Until we get to see how the world is coping with the recession in a few months time, I can't see the situation getting any better. Buying power is naturally down, as well as demand due to the unprecedented times.

So, until we start to see the other end of the recession tunnel, I can't see us making much progression in a upward trend, much more likely in my opinion to see a downward trend in a six month window. I'm not basing that on anything that's happened in the past, but only from the consideration that we're now in one of the biggest recessions most people would've seen, if not all of us, and we don't know exactly the repercussions of that until at least a few months in. For example, here in the UK interest rates are expected to go up a couple percent more, which is going to have a massive effect on people who recently bought a house, because not only did they over pay for their houses due to the boom, but the government was offering 5% loan to value loans, which basically means a lot of people took out more than they can afford to pay back, and that's without considering the job losses that we will see at the end of the year.

So, yeah in terms of a six month period. I can't see Bitcoin getting beyond that 20k, and if it does it would likely only be brief.