BTC price hitting 30k twice this year. - page 4.

Kemarit

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Quote from: Doubler Disburser 232515 on June 24, 2023, 12:13:44 AM

How far away from the next halving are we? It might be a combination of factors such as business consolidating their half yearly positions by shifting funds around or investment groups seeing the $25k price and deciding to throw a few million in Bitcoin's direction.

322 days give or take, so it's a little bit under one year from now. It's the FOMO though, when there is news of institutions getting into the Bitcoin ETF like Blackrock applying for now, the price seems to zoom in to $30k++.

So it's not businesses consolidating, although institutional money has been in the market for so long. But this is different, everyone including retail wanted to jump and doesn't want to missed the opportunity that's why there is a huge shift in the funds for bitcoin as we speak and there could be more waiting from the outside, willing to jump into the market.

yudi09

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Quote from: Lida93 on June 22, 2023, 07:06:33 AM

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

The signals are full of various analysis when the price increases which is very pronounced in the last week of June.
Of course I am very happy to see a sharp increase in the price chart and consider this something from a positive angle.
Sometimes I also think that this condition will not last long or only for a moment and will return to the price of $25K - $26K.

I hope this market situation persists and can increase towards the price of $40K although there will be another decline.
If it can last for the next month, then I will be very optimistic that $ 40K can be reached by the end of the year.

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Quote from: Doubler Disburser 232515 on June 24, 2023, 12:13:44 AM

How far away from the next halving are we? It might be a combination of factors such as business consolidating their half yearly positions by shifting funds around or investment groups seeing the $25k price and deciding to throw a few million in Bitcoin's direction.

Approximately 300 days until the next halving, although the exact date cannot be precisely determined since halving occurs after every 210 000 blocks, and blocks are created on average every 10 minutes.

Given that halving is something that has had a big impact on the price so far, there should be no doubt that many are acting on it when it comes to investing in Bitcoin. Although from a business perspective it always makes the most sense to invest when the price of something is lowest, and all those who invest now have missed this opportunity.

For small investors who will invest a few hundred or thousands of dollars that may not mean too much - but when you invest millions then the difference must definitely be noticed, because for what you invest in BTC today you could have got almost twice as much BTC 6 months ago.

Smitty Werben Man Jensen

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Quote from: Doubler Disburser 232515 on June 24, 2023, 12:13:44 AM

How far away from the next halving are we? It might be a combination of factors such as business consolidating their half yearly positions by shifting funds around or investment groups seeing the $25k price and deciding to throw a few million in Bitcoin's direction.

329 days until the Bitcoin halving will start, don't worry we don't need to worry because it will definitely happen,
Bitcoin has also reached $30k this year and is likely to stay at that level and make a bullish pattern,
so if you have sold Bitcoin in the price was $ 25k yesterday better buy again.

justdimin

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Quote from: LogitechMouse on June 23, 2023, 08:56:53 AM

Well, a very optimistic prediction of yours. With or without that ETF that's being filed by Blackrock, Bitcoin is expected to surpass it's previous ATH maybe next year or 2 years from now.

Anyway, it seems like the ETF filing of Blackrock really pushed the price of Bitcoin to around $30,000 currently. TBH, I don't know the impact of having a Bitcoin ETF towards the crypto market because we haven't seen any ETF filed that has become successful in the past years, so I'd be excited to see what will be the after effects of this ETF "IF" it will not get rejected, but at the same time, cautious as well. I might hold some Bitcoins for short to mid term because most see this ETF filing as a positive news thus, price of Bitcoin is increasing.

It seems like the $30,000 is now the support.

I am not entirely sure if it was Blackrock that made it push this far, sure it looks like we are talking about a good thing here but not all good things have a good result in the crypto world. Sometimes it does well and sometimes it doesn't do all that well.

I think this one was one of the good ones that did well and I personally believe that blackrock doesn't have anything to do with the increase, sure it must have some small help here and there but the main reason was that people were done going down and it was much harder to go down, it required a lot more bitcoins to be sold, so we basically found our bottom and then it started to increase and go higher because of that. It's a good thing, we needed this increase for sure.

Doubler Disburser 232515

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How far away from the next halving are we? It might be a combination of factors such as business consolidating their half yearly positions by shifting funds around or investment groups seeing the $25k price and deciding to throw a few million in Bitcoin's direction.

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Quote from: kotajikikox on June 23, 2023, 09:48:21 PM

-snip-
so now we are looking for one of the highest pump so far this year? and sign that there is more big uptrend to come before this year ends.

hope to see at least 50k before 2024 comes .

Touching $31k is the highest price for this year and this is certainly the strongest resistance.
See how the price is still stuck in the $30k price area.

Looking at the 1D Time Frame Bitcoin is in the Uptrend Console position, and if it is able to survive in the current position the bullish possibility will continue.
However, the possibility of continuing to $50k is still quite heavy, especially if there is further FUD that makes the market unstable.

But hopefully, $40k-$50k will be reached this year, and ATH will appear before the 4th Halving.

But if it is forced down, of course, there will be some corrections so that the market is not saturated and is currently Overbought.
The nearest correction area is at $28k-$27k support.

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Quote from: Popkon6 on June 23, 2023, 09:11:04 PM

The price of Bitcoin has been running upwards for several days. 25k has been dragged down for a long time and from there touched $31 thousand at the present time. But I think we're going to stay under the shadow of a Bitcoin bull market. Meanwhile, Bitcoin halving is only 297 days away, so we can see the increasing price of Bitcoin. I don't think the price of bitcoin will go down because everyone is ready to invest now because of which the price of bitcoin has completed high speed will be more. I can see the price of bitcoin going up and up to 35-40k this time.

The halving is a powerful catalyst for a bull market, but one thing that people overlook is that the bulls will only come a few months or a year after the halving, not immediately. We are still 297 days away from the halving, and that doesn't mean the bull season is exactly 297 days away.
If you look closely at history, we even had another big drop before the halving. I don't know if history will repeat itself, but it's not right to expect the price to rise as the halving approaches. There are many different factors that affect the market than just the halving event.

kotajikikox

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Quote from: Lida93 on June 22, 2023, 07:06:33 AM

Bitcoin price is on it again after a few drop in price at around 25-26k, but hitting the price value of 30k again as it did sometime April this year. What I describe as a gleams of the prospective light at the end of the tunnel of the year 2023.

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

not only that mate because in 24 hours bitcoin broke 31k again and almost 31,500 dollars to be exact

Price performance
24h
Low
$29,927.28
High
$31,389.54

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

so now we are looking for one of the highest pump so far this year? and sign that there is more big uptrend to come before this year ends.

hope to see at least 50k before 2024 comes .

Popkon6

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The price of Bitcoin has been running upwards for several days. 25k has been dragged down for a long time and from there touched $31 thousand at the present time. But I think we're going to stay under the shadow of a Bitcoin bull market. Meanwhile, Bitcoin halving is only 297 days away, so we can see the increasing price of Bitcoin. I don't think the price of bitcoin will go down because everyone is ready to invest now because of which the price of bitcoin has completed high speed will be more. I can see the price of bitcoin going up and up to 35-40k this time.

btc_angela

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Quote from: buwaytress on June 23, 2023, 11:48:24 AM

Still find it hard to understand that ETFs still stir up quite a bit of corporate fomo. I won't claim to have the same opinions as the few back in 2017/18 -- but have always held that all the speculation about "institutional interest" being a major driving force behind a sustained bull for Bitcoin is already disproven.

Don't even remember the names anymore but each time something big has finally coughed up, the reaction has been a whimper. Big money, old money, these didn't wait around for ETFs.

And yes, the bigger picture? None of this affects Bitcoin beyond the (temporary) reflection on its (trading) market and derivatives of.

Yeah, we still remember the CME or CBoE or even Bakkt hype around 2017-2018. It just FOMO and it didn't have any effect on the market. I mean the market moves as it is, bear market - price going down, bull market - price going up regardless of this institutional news or now.

So one lessons we learn is that it doesn't matter though, maybe it will have a temporary effect on the market, but once everything settled down, we are back to the normal flow, and speculation as to where the price would be short or long term with or without this money from institutions. The driving force is still with us, average joe retail investors.

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Quote from: goaldigger on June 23, 2023, 04:38:17 PM

This is an indication that many believes we should be on a bull market and if this time Bitcoin able to break the resistance, we might see its price to actually reach the price of $40k. Let’s wait patiently and watch the market closely as this can still be a bull trap because the volume is not that much to support the pump. Though if you look at a weekly time frame, you can still a bullish trend with Bitcoin and its a good sign too.

We did break the resistance of $30k, for a short time, the price reaches $31k, but then again, maybe there are sellers or orders along that price, so it was liquidated very fast, and so it didn't last long. Nevertheless, $30,500 right now, still very high and we should be expected that this price might hold at least at the end of the month. And if that happens, then we are going to be green again. Historically, the month of June is not good in a bear market, but it seems we will change that pattern for this year as we have seen a jump from $26k-$30k++.

BITCOIN4X

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Quote from: goaldigger on June 23, 2023, 04:38:17 PM

This is an indication that many believes we should be on a bull market and if this time Bitcoin able to break the resistance, we might see its price to actually reach the price of $40k. Let’s wait patiently and watch the market closely as this can still be a bull trap because the volume is not that much to support the pump. Though if you look at a weekly time frame, you can still a bullish trend with Bitcoin and its a good sign too.

I'm glad there is a lot of optimism about the market right now, but bitcoin's volatility will allow you not to find it breaking through $40k in the next few months. I'm not sure $40k can be broken next month, but most likely only if support from investors gets stronger.

I'm a bit surprised by bitcoin's success finding $31k again after it was last reached in April, but it's always possible anyway when demand increases. Price movements occur so fast, but we also need to consider the possibility of a correction.

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It is hard to tell if the price of the Bitcoin market will plummet again but I expect it to reach $40K and after we may see another market correction since the reason behind the surge in price happened after the U.S banking crisis, the Federal Reserve changed its stance recently on interest rates in an effort to prevent a a recession or increase public confidence in decentralized finance. As a result, the cryptocurrency market benefited greatly from this, and this also lead to giant multinational company filing for BTC ETF.

goaldigger

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This is an indication that many believes we should be on a bull market and if this time Bitcoin able to break the resistance, we might see its price to actually reach the price of $40k. Let’s wait patiently and watch the market closely as this can still be a bull trap because the volume is not that much to support the pump. Though if you look at a weekly time frame, you can still a bullish trend with Bitcoin and its a good sign too.

skarais

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Quote from: AakZaki on June 23, 2023, 10:59:40 AM

Going down to the $26k price area may still happen if there is further FUD attacking Bitcoin.

I didn't hope for it, but based on the pattern that occurred in previous years, there is a possibility of another correction going forward.

Quote from: AakZaki on June 23, 2023, 10:59:40 AM

the achievement of the current bitcoin price being able to stay above $30k is good enough. The market looks supportive and many investors are starting to enter. But it does not rule out the possibility that a correction will occur. it is quite normal if there is a correction in the next few days. or when the market drops weekly.
To reach a higher price, it certainly needs some corrections, so that the current position will be even stronger.

I also wouldn't completely discount the possibility of another correction below $28k in the following months, but this incoming investor support is expected to keep the price above $30k longer than we expect. It's always possible for Bitcoin to gain FUD allowing the price to correct again, but I don't expect that to happen verry soon.

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Quote from: Kemarit on June 23, 2023, 06:12:41 AM

I don't think that what he intend to say though, he might be pointing to the US government, against their hard line stance on crypto itself. And instead of pulling the price down with the whole SEC vs exchanges, the price suddenly goes up to $30k.

And we used to have this price already, it's that we just reclaim it again, so good job for the market and all the investors. And if you sell during the negative news on Binance, then it's your loss.

There still another catch here, if we seen BlackRock ETF gets approved, although the chance might be slim, we might see a huge rally again.

You're correct. What I meant is that spot price depends on a few big exchanges and the data they propagate. Binance and Coinbase were under pressure from regulators who wanted to freeze Binance's assets. This was done to scare people into selling or withdrawing their coins and allowing institutions to do their last buys before announcing their plans for ETFs and custodial services. It's one large scam.

The real value of bitcoin at that time was different than what exchange data was telling us. Bitcoin was still worth 30k, it just wasn't trading at 30 because exchanges were being suppressed.

Jegileman

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The recent movement in the bitcoin price is a good sign for the market and also a good sign of the bitcoin price hitting the $40-$50K price before the end of the year or at the end of the year. After the price hit $30K in the month of April, many expectations was that it’ll go below $30K for some correction before it goes uptrend again but it didn’t. This current uptrend was as a result of happenings in the market (Blackrock, ETF etc), this is a good sign and I don’t expect the price to go below that range any time from now again.

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Quote from: bitzizzix on June 23, 2023, 12:10:43 PM

The bitcoin price is currently at 31k and needed to break the 31k resistance level but now that bitcoin has managed to reach that price, I think the bitcoin price will continue to 33k in the near future.
bitcoin is expected to continue its bullish trend in July and it is possible that the price will be higher than in August and we can be sure that in August the bitcoin price will decrease slightly, maybe it will return to the price of 26k-25k or again.
and this is just my opinion and eventually the price of bitcoin will rise again, and some positive news related to bitcoin could be one of the main sentiments in preparation for next year's bitcoin halving.

Resistances tend to move. They are just levels that we failed to break the last time, but it could have been due to the fact that there was a large seller setting up a wall of coins at that level and we kept bouncing off, but that seller doesn't have to be there now, a few weeks later. Don't forget that the SEC attacked Binance and many people took money out of exchanges, so there was much less liquidity on the market compared to a April when prices were pumping for the first time.

Wait for us to break 32k because above that there's no known resistance level up to 40k, so if we can stay above 32k, we'll poke the low 40s for sure.
I think it's inevitable this year that we do it.

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Quote from: Kelvinid on June 23, 2023, 07:31:57 AM

Quote from: Lida93 on June 22, 2023, 07:06:33 AM

>snip

Well, I'd never seen yet the strong market position of Bitcoin but still, I was in good faith and believed that this year we are able to see the price of Bitcoin hitting back at $35k. Of course, I don't expect the market will turn bullish, no, but at least seeing its price surpassing $25k is a sign that we are moving forwards and building recoveries slowly. As to the moment that halving comes and done, the Bull run is what we believe to come next. And that is likely to happen next year. So I guess, we need to extend our patience till next year otherwise, it was a fail test.

I'm not sure what to say about the current state of the market, I mean the price is recovering slowly after a few months of correction. Currently bitcoin price has broken the $31k resistance and will probably test another resistance level around $35k, but I hope this recovery doesn't stop before $35k is broken.

I think the market has recovered after a dismal year in 2022, but of course it's not very bullish even though we are already above 100% of last year's low. Currently, we are still in the -54% range of ATH bitcoin, so I hope the price recovery this time can continue and even break through the $40k resistance, hopefully.

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