Well looks like the ETH etf is a go but most of the bitcoin spot etf looks like they will be delayed. The deadline is in October but sec is delaying them now due to the government shutdown. They delayed blackrock a few hours ago. So it doesn’t look like this quarter we will get the approval.
So in regards to price I think we will just trade sideways. The government shutdown is not good for equities and the bond market is signaling a lot of pain. So unless there is some other catalyst I don’t see bitcoin pumping anytime soon.
Topic: Challenging the lows, 25.5k and lower possible break here (Read 424 times)
27075 is the line I'll draw for positive BTC here, I relate that to the peak July and low August of Summer pricing fairly recently. Referencing Fibonacci levels matches most of the daily action. My take for 2023 prior and now still is consolidation or simpler still sideways. We are somewhat positive but still sideways is a good description for most of the movement rather then being assuming negative on the down move or positive will last when we rise as we did today.
Without passing 27075 and also confirming it as support to rise further, put it in the rear view not overhead or a ceiling as it easily can still be now; we are sideways. Seems we have to write down sideways on the whiteboard and just look to check our course on every move, are we to do the same once again repeat or can we move forward some. When we are negative, my take is look for a positive upwards and that was my idea recently, now I consider sideways and target upside is 28913. If we get 28913, its past the 200 day average and can we stick that positive gain at that point will be my question or once again we must assume a repeat and sideways.
Without passing 27075 and also confirming it as support to rise further, put it in the rear view not overhead or a ceiling as it easily can still be now; we are sideways. Seems we have to write down sideways on the whiteboard and just look to check our course on every move, are we to do the same once again repeat or can we move forward some. When we are negative, my take is look for a positive upwards and that was my idea recently, now I consider sideways and target upside is 28913. If we get 28913, its past the 200 day average and can we stick that positive gain at that point will be my question or once again we must assume a repeat and sideways.
Looking back, yeah we did reach $27k again, unfortunately, it was just short live again as there are speculators who might have sold around the figures to make profits. As for the Blackrock ETF, most likely it will be next year that we will either see a big news or not.
Hopefully, we can get the approvals already so that it can also help a lot in the big bull run that everyone is expecting next year. To the point that the prediction is a conservative 6 digits in the beginning of the run.
I would guess that we are trying if it is the time or not yet, and that is why we get higher and then go lower. I understand that there is this type of feeling where everyone wants to already see it go up, but for that to happen we need to all buy, and we do not all buy at the same period, I do not mean like same hour, but not even same week.Hopefully, we can get the approvals already so that it can also help a lot in the big bull run that everyone is expecting next year. To the point that the prediction is a conservative 6 digits in the beginning of the run.
So some people get hyped and buy, make it go up, and then we end up seeing it change a bit as well, I feel like if others do not join them, it is not going to happen as something that is better. We just have to understand that bull run happens when there are millions of people willing to buy daily, when it happens once with a small increase and doesn't happen again later on, that doesn't really change.
I think it's just normal to see people buy, but I guess those who sold are just speculators and short term investors who just wanted to make or squeeze profit as obviously they are just day traders.
But if we are going to look at the long term, and as I have said, maybe in the future we will have this approvals and it might be next year. So it's good to buy but at least hold them as the block halving is coming next year.
Looking back, yeah we did reach $27k again, unfortunately, it was just short live again as there are speculators who might have sold around the figures to make profits. As for the Blackrock ETF, most likely it will be next year that we will either see a big news or not.
Hopefully, we can get the approvals already so that it can also help a lot in the big bull run that everyone is expecting next year. To the point that the prediction is a conservative 6 digits in the beginning of the run.
I would guess that we are trying if it is the time or not yet, and that is why we get higher and then go lower. I understand that there is this type of feeling where everyone wants to already see it go up, but for that to happen we need to all buy, and we do not all buy at the same period, I do not mean like same hour, but not even same week.Hopefully, we can get the approvals already so that it can also help a lot in the big bull run that everyone is expecting next year. To the point that the prediction is a conservative 6 digits in the beginning of the run.
So some people get hyped and buy, make it go up, and then we end up seeing it change a bit as well, I feel like if others do not join them, it is not going to happen as something that is better. We just have to understand that bull run happens when there are millions of people willing to buy daily, when it happens once with a small increase and doesn't happen again later on, that doesn't really change.
I hope that you are aware that the price of bitcoin is not predictable and is not something we can depend on, so bitcoin have its price and you can sleep and before you wake-up bitcoin price have accelerated, so therefore nobody can predict accurately when and how bitcoin price comes about, hoping that bitcoin can get accelerated in the month of September is not something I know full well, it can be tomorrow the price of bitcoin falls drastically beyond our expectations or predictions and such is applicable to rising aspect of bitcoin where by the situation of the price can rise tomorrow due to the market demand get accelerated or is of higher potential than the supply. So this two factors is strongly behind the elements that makes bitcoin to get increased and get decreased.
If there is a people in this forum that follow my previous prediction they made profit by now hahaha
Like I said before its just an opinion and beside that this was speculation board nothing here is 100% accurate but if you look at the situation right now you might aware that bitcoin price goes to my direction at 27K
.The next resistance zone would still likely at 30K but economic and news might make bitcoin can go lower again if Blackrock Etf is approved on 2 September the price will be stonk again but I heard the news about the fed will increse the Interest rate again might move bitcoin price to plummet again
Looking back, yeah we did reach $27k again, unfortunately, it was just short live again as there are speculators who might have sold around the figures to make profits. As for the Blackrock ETF, most likely it will be next year that we will either see a big news or not.
Hopefully, we can get the approvals already so that it can also help a lot in the big bull run that everyone is expecting next year. To the point that the prediction is a conservative 6 digits in the beginning of the run.
I hope that you are aware that the price of bitcoin is not predictable and is not something we can depend on, so bitcoin have its price and you can sleep and before you wake-up bitcoin price have accelerated, so therefore nobody can predict accurately when and how bitcoin price comes about, hoping that bitcoin can get accelerated in the month of September is not something I know full well, it can be tomorrow the price of bitcoin falls drastically beyond our expectations or predictions and such is applicable to rising aspect of bitcoin where by the situation of the price can rise tomorrow due to the market demand get accelerated or is of higher potential than the supply. So this two factors is strongly behind the elements that makes bitcoin to get increased and get decreased.
If there is a people in this forum that follow my previous prediction they made profit by now hahaha
Like I said before its just an opinion and beside that this was speculation board nothing here is 100% accurate but if you look at the situation right now you might aware that bitcoin price goes to my direction at 27K
.The next resistance zone would still likely at 30K but economic and news might make bitcoin can go lower again if Blackrock Etf is approved on 2 September the price will be stonk again but I heard the news about the fed will increse the Interest rate again might move bitcoin price to plummet again
And as we can see from the increase, this was wrong. I have to say that expecting lows on bitcoin is something that can happen and people can be right about it time to time, but that doesn't mean that they will be right at all times. I think it should be important to remember that we are not going to end up with a good return all that easily so sometimes the falls happen. But knowing when that will happen is a difficult one, I think it should be important to remember that we are going to end up with a good result one way or another, and this was one of those good times. Price has gone up good enough and the result is not that bad at all, so we should be happy about it.
The correction in bitcoin price to 25k+ is what have been bothering so many investors and people have begin to look out to see if the price will pump back soonest but it hasn't, rather the market has been sideways at there is no increase in price.
There's nothing to worry much about with the current situation as long as you're dealing with bitcoin, there's always that confidence that the market will rise whenever it falls no matter the conditions attached, people are still holding and buying more to get prepared towards the bull in anticipation.
We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.
Just the recent sudden pump from $25,000 to $27,000 is a strong indication that we should expect more coming sooner which may be upto the rate of over $30,000 and we keep moving gradually from there till bullrun begins.
Users have mixed emotions, one day predict that Bitcoin will go bonkers and once they is a drop they speculate bitcoin to go below $15k. People are really puzzled here as we have so called experts who are just a price fluctuation away from terming the market as bullish or bearish. I feel bitcoin will gradually pump up as it's been over three months that Bitcoin has been mostly neutral or slightly declining trend still it has held its ground which is an indicator that big thing awaits for Bitcoin but if falls around $15k then we will have extended bearish market.
The correction in bitcoin price to 25k+ is what have been bothering so many investors and people have begin to look out to see if the price will pump back soonest but it hasn't, rather the market has been sideways at there is no increase in price.
We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.
We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.
Not sure if you have check the price though, as in the last 24 hours, we have a good pump.
Just check it out your self, the price is $27k++ already. But I do agree that as we approach the last quarter of the year, we might see a price increased specially as we will approach the halving already.
And so it's very interesting where we will go, I'm seeing maybe we can reach at least $35k-$40k or close to it at the end of the month.
The correction in bitcoin price to 25k+ is what have been bothering so many investors and people have begin to look out to see if the price will pump back soonest but it hasn't, rather the market has been sideways at there is no increase in price.
We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.
We are approaching a new month and I hope that we hear some good news that will help pump the price,if not we might still be on the 25k+-26k+ range because the economy situation is also affecting bitcoin market. I do hope that October will be a good month for bitcoin and we might see the price of bitcoin at 40k at the end of this year. The halving will have a lot more impact on the price.
Just opinion maybe Bitcoin cannot make a new lower and go to positive at 27-28K level again and going to side away again after that but since next month is September and usually a bleed month for bitcoin Im not sure its going to above 30K level
I hope that you are aware that the price of bitcoin is not predictable and is not something we can depend on, so bitcoin have its price and you can sleep and before you wake-up bitcoin price have accelerated, so therefore nobody can predict accurately when and how bitcoin price comes about, hoping that bitcoin can get accelerated in the month of September is not something I know full well, it can be tomorrow the price of bitcoin falls drastically beyond our expectations or predictions and such is applicable to rising aspect of bitcoin where by the situation of the price can rise tomorrow due to the market demand get accelerated or is of higher potential than the supply. So this two factors is strongly behind the elements that makes bitcoin to get increased and get decreased.Lots had been shocked and havent able to anticipate such price increase knowing that this market isnt really that totally influenced by sentiments or fundamentals but it turns out those sudden news did really make out that kind of move on which tons hadnt been able to expect for it to happen.Technical analysis could really be showing up signs and possibility of those price movements but we arent that dumb on not to say that not all the time
these kind of technical approaches are always right most of the time. It could easily fucked out those analysis in a blink of an eye.
Just opinion maybe Bitcoin cannot make a new lower and go to positive at 27-28K level again and going to side away again after that but since next month is September and usually a bleed month for bitcoin Im not sure its going to above 30K level
I hope that you are aware that the price of bitcoin is not predictable and is not something we can depend on, so bitcoin have its price and you can sleep and before you wake-up bitcoin price have accelerated, so therefore nobody can predict accurately when and how bitcoin price comes about, hoping that bitcoin can get accelerated in the month of September is not something I know full well, it can be tomorrow the price of bitcoin falls drastically beyond our expectations or predictions and such is applicable to rising aspect of bitcoin where by the situation of the price can rise tomorrow due to the market demand get accelerated or is of higher potential than the supply. So this two factors is strongly behind the elements that makes bitcoin to get increased and get decreased. 
Once it goes to the lower bound range, it's going to be a continuous selling pressure. With this in mind, I think it's best to set a certain price that you would buy. Maybe accumulate it with continuous buying for specific step ranges.
There is upcoming pressure that would go to the market, so it's best to be ready. The possible selling would be in October so, why not take advantage of it now? If you think a lot of people would sell.
There is upcoming pressure that would go to the market, so it's best to be ready. The possible selling would be in October so, why not take advantage of it now? If you think a lot of people would sell.
My perspective hasn't really changed much, I still think the global economy is in too much of an uncertain way that is also seeping into the bitcoin market affecting how people react. We have seen how the growing recession in US and EU over the past year has put a sell pressure on the market causing the drop to this point and also preventing the start of the next bull cycle. This has not changed so far. So either the recession has to end (which is not going to happen since energy price is still high among other reasons) or "they" have to run out of bitcoins to sell which will take longer.
In short 2023 will continue being uncertain with sideways and sometimes unpredictable moves like the recent drop below $30k.
In short 2023 will continue being uncertain with sideways and sometimes unpredictable moves like the recent drop below $30k.
OP, despite the drop in the price of Bitcoin, I am still bullish about Bitcoin towards the end of the year. It doesn't matter whether the price drop is so bad, but the market recovery can sometimes be very quick too. Despite the fact that Bitcoin is currently in the #26k zone, it can also quickly spike to $30k+ in just a week or less (I guess), and I believe that it's possible that towards the end of 2023, we can see Bitcoin around $40k-$50k.
In reality, it doesn't take time for Bitcoin to spike in price. It can spike or decline in price within days. That's how it went from its previous price of $30k-$25k within days, after fluctuating within the range of $28k-$30k for months. Bitcoin spiking in price to $40k-$50 is what I can't foresee happening in the last quarter of the year due to how the bearish market seems not to go above $30k for months before it falls to this present price of $26k.
What I can actually foresee at the end of the year is $30k-$35k of bitcoin price. Any price above it would come around next year(2024)
I personally considered 26k low enough so started buying a bit. But I am worried that it can go even lower. I am not going to sell Bitcoin I bought at this level for sure, as many holders, next year these positions will all look too cheap. But carrying the burden here if it goes around 20k will be sad. But anyways I will keep on accumulating more if Bitcoin price hits 19-20-21k. Pretty sure institutions will buy there too.
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However, what might cause a dump is Mtgox's repayment of $4.3 billion in bitcoins. It is very much certain that the receivers of these coins are very excited to sell some of them after being frozen for many years hehe.
Mt. Gox creditors are set to receive payouts in October 2023.
142,000 BTC, currently worth $4.3 billion, are set to return to general circulation.
Source https://www.ccn.com/news/mt-gox-repayment-bitcoin-price/
However, what might cause a dump is Mtgox's repayment of $4.3 billion in bitcoins. It is very much certain that the receivers of these coins are very excited to sell some of them after being frozen for many years hehe.
Mt. Gox creditors are set to receive payouts in October 2023.
142,000 BTC, currently worth $4.3 billion, are set to return to general circulation.
Source https://www.ccn.com/news/mt-gox-repayment-bitcoin-price/
Regarding the issue of Mt.gox, do you believe this time they will actually compensate their victims or will continue the story of empty promises they have made over the years? Furthermore, as in previous announcements, many victims want to receive that compensation in USDT or other crypto, not just bitcoin as an option. So we still don't know if it will really affect the market or not.
Personally, I don't believe Mt.gox will return those bitcoins, they will keep promising and will find a way to prolong this story much longer.
Similar to what I have mentioned before, the people are presently witnessing disbelief in this market. They speculate that this is only another bear market rally that will certainly dump later. I shake my head on this because despite every bad news about the economy, bitcoin has been going up since November.
However, what might cause a dump is Mtgox's repayment of $4.3 billion in bitcoins. It is very much certain that the receivers of these coins are very excited to sell some of them after being frozen for many years hehe.
Mt. Gox creditors are set to receive payouts in October 2023.
142,000 BTC, currently worth $4.3 billion, are set to return to general circulation.
Source https://www.ccn.com/news/mt-gox-repayment-bitcoin-price/
However, what might cause a dump is Mtgox's repayment of $4.3 billion in bitcoins. It is very much certain that the receivers of these coins are very excited to sell some of them after being frozen for many years hehe.
Mt. Gox creditors are set to receive payouts in October 2023.
142,000 BTC, currently worth $4.3 billion, are set to return to general circulation.
Source https://www.ccn.com/news/mt-gox-repayment-bitcoin-price/
OP, despite the drop in the price of Bitcoin, I am still bullish about Bitcoin towards the end of the year. It doesn't matter whether the price drop is so bad, but the market recovery can sometimes be very quick too. Despite the fact that Bitcoin is currently in the #26k zone, it can also quickly spike to $30k+ in just a week or less (I guess), and I believe that it's possible that towards the end of 2023, we can see Bitcoin around $40k-$50k.
In reality, it doesn't take time for Bitcoin to spike in price. It can spike or decline in price within days. That's how it went from its previous price of $30k-$25k within days, after fluctuating within the range of $28k-$30k for months. Bitcoin spiking in price to $40k-$50 is what I can't foresee happening in the last quarter of the year due to how the bearish market seems not to go above $30k for months before it falls to this present price of $26k.
What I can actually foresee at the end of the year is $30k-$35k of bitcoin price. Any price above it would come around next year(2024)
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