Btc dump to 39600 - page 5. | Bitcointalksearch.org

bestcoins1

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Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

Why do you say that is the target? I would like to know a clearer reason for this because the target of many people now is to see a new ATH in Bitcoin after the halving and now the price support above $40K is a very good thing for this year and is very desired by many people. But if you still want to buy Bitcoin below $40K, don't say that is the next target for Bitcoin because the potential price increase will be more visible after a price correction in a trend like now.

jaberwock

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Quote from: crwth on December 17, 2023, 08:21:10 PM

It is the time to purchase more BTC if you have extra money to spare or any amount that you want to invest in cryptocurrency. It's more than enough to say that you can get it at a discount for that amount. You would never know how much you can earn but it's still best that you do something about it.

Sorry but I find this funny. I don't really know why, but maybe it's due to the fact that people say this from time to time, or whenever the price drops even by just some percent. Another thing is, maybe because a person can refuse a certain price, thinking it's still expensive, so they will wait for a while, but the price will only increase and then when it drops a little, they will see that as an opportunity, even though the price is higher than what they ignored last time. Indeed that in investing, we should only risk a spare amount because we don't know what is coming ahead, and we can lose this amount but it's not going to be heavy for us, so it's still fine.

Wapfika

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Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

ROFL on this, Who set that target goal for dump? Grin

Kidding aside, 39K seems like not a support but rather 40K. Price will easily slide down below once 40K broke because it’s the psychological support price not 39K.

I think we might experience worst this month if the price didn’t recover back above 42K for many days.

Odohu

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Quote from: criptoevangelista on December 18, 2023, 05:48:55 AM

I personally would like the drop to be 10 dollars, yes, 10 dollars! It would be like taking a trip back in time. And take advantage of the opportunities I missed in the past.

Have you really thought about the implication of what you just typed? What gave you the conviction that if Bitcoin drops from the current price to $10 that it will recover? I have the feeling that you are still regretting not buying Bitcoin when it was very cheap, so you are desperate for a second chance which if it happens according to your expectation may mark the end of Bitcoin. There is no way Bitcoin will get to such price unless everyone dumps it.

I will encourage you to have a rethink and join Bitcoin now even with any amount you have. You will not be helping yourself thinking you have missed Bitcoin because "anytime a man wakes up is his morning". Where Bitcoin is going is bigger than where it is now...pay attention and it will become clearer to you.

Zanab247

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Are you afraid about the new dump that just happened in the market, you don't need to worry yourself about the new dump but just try to know that the market will surely recover soon before the end of this year because, the $50k is not too far before it will start manifesting to investors target. Don't forget that we are still experiencing bear run in the market and you can buy and hodl until BTC pump again for hodlers that are worry like you to sell at the rate of $50k or $60k before the end of december.

I don't think I have anything to worry about in this new dump of BTC $39k because, am fully ready to hodl till the massive bull run occur so that it will give me another opportunity to save more money in my account to embrace the opportunity when the BTC dump in the market.

Nrcewker

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Quote from: criptoevangelista on December 18, 2023, 05:48:55 AM

I personally would like the drop to be 10 dollars, yes, 10 dollars! It would be like taking a trip back in time. And take advantage of the opportunities I missed in the past.

It is practically not possible. As soon as the price of Bitcoins falls below 20k usd, there are some whales sitting who buy the coin in bulk and hence increase the demand to accumulate the coins. Now as the demand is high and we know that Bitcoins supply are limited, hence the price again goes up and this cycle continues. So Bitcoins cannot fall till that much amount any longer. Rather it has the capacity to go up, maybe someday we see Bitcoins at 1 Million USD.

criptoevangelista

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I personally would like the drop to be 10 dollars, yes, 10 dollars! It would be like taking a trip back in time. And take advantage of the opportunities I missed in the past.

KingsDen

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Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

There was no strong support at 42k, so a little correct is expected to dig pass 42k easily and talking about 39k support, it is also possible for it to happen. People who should be bothered are short term investors. People who bought when the price was at the region of 15k shouldn't panic, rather they should decide if they want to sell or still hold. But, I think someone who bought once at the region of 15k should be able to sell but someone who has been buying with DCA and the investment has been passive on him can with a little longer.

Quote from: LogitechMouse on December 18, 2023, 03:28:51 AM

Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

The decision of the SEC regarding the Blackrock Spot Bitcoin ETF will be shared with the public in the 1st quarter of 2024. Expect Bitcoin to go up hard, or to go down hard. It will depend on that decision. Cheesy

Well, even if the decision goes on the negative side and Bitcoin goes down hard as you predicted, one good thing is that, the incident will not be the end of bitcoin. Bitcoin will definitely bounce back.

LogitechMouse

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Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

Who cares?
Probably day traders are the ones that are affected by this fluctuation, but if you're a mid to long-term holder of Bitcoin, why should you care?

Whether it goes below $40,000 by the end of the year, or it goes $45,000, or even though it goes even lower than the target price you shared, I don't even care at all. I've seen Bitcoin's price as low as a thousand dollars already, and I've seen Bitcoin's price going up more than 3x, and I've seen it go down to as low as 70% to even 80%. At the end of the day, BTC will go down like what we are seeing right now, but in the long run, it will go up like what it does every 4 years... or is it? Tongue

The decision of the SEC regarding the Blackrock Spot Bitcoin ETF will be shared with the public in the 1st quarter of 2024. Expect Bitcoin to go up hard, or to go down hard. It will depend on that decision. Cheesy

adaseb

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I think Bitcoin will just trade sideways and chop around until middle of January.

They are expecting all of the etfs to get approved at once on Jan 10th or something and this is the last week until Christmas and after that is going to be extremely choppy.

We might touch the $40K because it looks like a nice round number. And it was front run last time when we broke the $42K area and liquidated all those positions.

YUriy1991

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Quote from: Husires on December 17, 2023, 08:16:51 PM

High fees put pressure on the price significantly. They give incentives because the current price is less profitable for miners, and it is okay if the price drops a little. Therefore, I am not surprised if we returned to testing the support level at $37,800 again, but most likely the price will try to maintain the weekly zone $40,123 to $48,414 before the end of the year.

That's why the role of miners also has a role in the current price movement where you have to check the transfer fees when you move your money and calculate if it is still worth it because the BTC price fluctuates wildly every second.

Quote from: Husires on December 17, 2023, 08:16:51 PM

The Relative Strength Index (RSI) is still giving a bullish signal but eyes are on the calendar between January 4 and 10 for knowing ETF decisions.

Another one for the calendar between January 4 and 10 with the decision ETFs where if the Volume for exchange is not high enough I don't think it will encourage upward trading movements to support large trades, so stay calm and hodl.

crwth

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It is the time to purchase more BTC if you have extra money to spare or any amount that you want to invest in cryptocurrency. It's more than enough to say that you can get it at a discount for that amount. You would never know how much you can earn but it's still best that you do something about it.

Husires

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High fees put pressure on the price significantly. They give incentives because the current price is less profitable for miners, and it is okay if the price drops a little. Therefore, I am not surprised if we returned to testing the support level at $37,800 again, but most likely the price will try to maintain the weekly zone $40,123 to $48,414 before the end of the year.

The Relative Strength Index (RSI) is still giving a bullish signal but eyes are on the calendar between January 4 and 10 for knowing ETF decisions.

mirakal

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Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

If you have been here in the market for a longer time, you will notice that price fluctuations do happen any time and it's normal for a volatile market like crypto. Bitcoin price will recover eventually, and right now the price of bitcoin is currently at $41k so that's still high if we analyze it deeply. However, if bitcoin price drops badly, we should still not worry because it could be a new opportunity for others to enter the market at a lower price. We just have to stay patient and try not to be tempted from panic selling, otherwise we will see our investments end up falling and lose our capital.

hatshepsut93

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Corrections are quite expected in the bull market, or in any market really after the price went straight up. It's still a good time to accumulate coins for the post-halvening bull run, but time is running out, it's better to forget about DCA and buy as much BTC as possible right now. And those who plan to take profits should wait until the price at least surpasses the ATH.

Captain Corporate

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Honestly, there doesn't seem to be any that has anything like that at all, it looks like we are not seeing "that" much fall, plus we have broken over 43k just very recently with a recover, and yes maybe we are a little lower than that but shouldn't be quite happy about bitcoin at this point? I mean it doesn't really mean that we need to just assume it will go up, but we also do not need to approach bitcoin like we are talking about something that always goes down all the time, sometimes it goes up, just like how it got up to 40k+, so we shouldn't be this pessimistic. I believe it will recover, and it will go to 43k+ very quickly, and it will probably reach to 45k+ not too down the line neither.

AprilioMP

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Quote from: jinzo26 on December 16, 2023, 08:50:01 PM

Btc broke 42200 support
Now the target is 39600

You want to say that Bitcoin will experience another correction from $42,200?
Corrections can occur and increases can also occur beyond speculators' predictions. I read an article on cointelegraph about what Adam Back said about the impact of Bitcoin ETFs.

If the market has the potential to fall again to prices below $40,000 which makes the support price change, remember one thing that 2024 could be a happy year for many investors as long as they continue to manage risk with patience.
The event that Bitcoin can penetrate the price of $44,000 several times this year could be a strong signal of the potential to reach a peak in 2024.

$100K BTC? Don’t undervalue Bitcoin ETF influence, says Adam Back

STT

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Proper reset to bottom of a channel would be about 37k to 35k, consider that similar target but an overshoot of what you expect. If in doubt reference the 50 day average for a good fair guide to a reset which puts us back but stays in the realm of a rising positive tide of appreciation in the price across the medium to long term. All the moving averages indicate we are likely to gain over the journey to the horizon though we can certainly suffer a trip and reset in the near term when getting ahead of ourselves.

khiholangkang

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Even if it happens to bitcoin and returns to the $35-$39 level then I will continue to buy bitcoin, because previously I felt my provisions for bitcoin halving were still not much, so if bitcoin goes back down is happy news that should be celebrated in December because it is the last chance we can feel at the $30k level.

I don't mind the decline this month and actually want to invite many of my friends to buy more bitcoin because the market is at a good price discount if bitcoin returns to $39k tonight, but I doubt bitcoin will break the $40k level, it is quite strong and will be very difficult to break, unless there is bad sentiment towards the market, it is possible. Lips sealed

kentrolla

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it's not a big deal as fluctuations are the only thing which is permanent when it comes to crypto, we had seen similar dip last week and this week the price did recovered and I don't think we will see any massive dump though going below $40000 is pretty much possible and we may see this multiple times until the halving.

I just hope people don't start fud on this forcing investors to panic sell.

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