Could 72K USD be the peak for this bull run?

erep

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Quote from: South Park on June 29, 2024, 03:33:34 AM

Quote from: Yaunfitda on June 27, 2024, 01:54:06 AM

Exactly, really hard to see where we are at the end of the month, but by the looks of it, $72k might not be hit, in my opinion. On the other hand, why not take this perfect opportunity to stash for more, that is if you have the budget for now, which usually does for big whales and for the majority of us here average joe, continue to do DCA and we will be good. Still plenty of time for us, if we look at 2024. Six months is a lot, things might change for the better in the last quarter and so we should just stay focus and look for the bigger or even look further at 2025 as our goal as usually this is going to be the peak of the bull run and for all we know, 6 digits could be on it's way.

That is how we need to see the current low price of bitcoin, if a person wanted to buy a product and they found out that it had a 20% discount, they will do what they can to acquire it right now and save money in the process, well, bitcoin is going through the exact same circumstances as it has a 20% discount from its ATH, so anyone that is interested in stashing as much of it as they can, should take the opportunity to buy it before the price goes back to its previous levels.

I think this strategy is very suitable for investing with the DCA method to buy bitcoin gradually, this decline is actually still lower than the ATH price and I suggest buying part of the budget for investing in bitcoin, the rest of the budget for buying bitcoin at a lower price.

Be a wise investor without comparing crypto prices with prices of other goods because a 20% discount is not necessarily the lowest price after bitcoin reaches ATH, but you will have the opportunity to get a discount higher than 50% if you consistently carry out DCA investments, you need patience and strategy to invest in the market crypto, you don't need to rush to allocate all your budget to buy at a 20% discount, but if bearish conditions occur then you won't be ready for the risk.

Jating

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Quote from: philipma1957 on June 16, 2024, 08:10:05 PM

This is a good question. Back in April 2021 I kept saying 70k in may.

Well it did not happen and we need to go to march of 2024 to 70k

So my words we close to a three year jinx on the price reaching 70k .

So I will not predict 80k or 90k or over 100k. As I do not want to jinx us.

I will hope we pass 80 90 100k this year not predict it. 🆗

Lol, but everyone has some jinx in the market, we made our predictions and then it was a missed. So this could be just coincidence as the market is very hard to predict but if we look at past historical logs, June is one of the worst as it is after a halving and maybe investors don't find the hype anymore in the market.

But then again, this is just June though, we still have 5+ more months to go and there could be a lot of things that can influence the investors to put their money in the market. And with that, personally I don't see $72k as the peak, it could just be the start as we might reach $80k or $90k or even $100k at the end of 2024.

South Park

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Quote from: Yaunfitda on June 27, 2024, 01:54:06 AM

Exactly, really hard to see where we are at the end of the month, but by the looks of it, $72k might not be hit, in my opinion. On the other hand, why not take this perfect opportunity to stash for more, that is if you have the budget for now, which usually does for big whales and for the majority of us here average joe, continue to do DCA and we will be good. Still plenty of time for us, if we look at 2024. Six months is a lot, things might change for the better in the last quarter and so we should just stay focus and look for the bigger or even look further at 2025 as our goal as usually this is going to be the peak of the bull run and for all we know, 6 digits could be on it's way.

That is how we need to see the current low price of bitcoin, if a person wanted to buy a product and they found out that it had a 20% discount, they will do what they can to acquire it right now and save money in the process, well, bitcoin is going through the exact same circumstances as it has a 20% discount from its ATH, so anyone that is interested in stashing as much of it as they can, should take the opportunity to buy it before the price goes back to its previous levels.

$weetne$$

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Quote from: STT on June 25, 2024, 06:49:14 PM

It wont be the top indefinitely but for now sure maybe and thats a high mark to have. BTC been strong the whole day today from 1am the price action has traded above the 12hr average. Yesterday was a real sharp turn down that only later in that day got back a bit, despite this being a good pullback of those losses its still below where it needs to be to say we have negated the possibility of further movement downwards.

I thought the highest price of Bitcoin was above $73,000 so how then can $72,000 be the highest price for the bull run that has not peaked yet. The peak of the bull run will determine what the highest price of Bitcoin is going to be. $72,000 can not be the peak and neither can $73,000. My prediction for the peak price of Bitcoin will be somewhere between $100,000 and $200,000. The market is not looking very good because of the dip we keep getting every time Bitcoin try to break the resistance level but it will happen soon. The market can not be stubborn all through the year. At some point the bears will get tired of selling and the bull market will take over again. When that happens we will wish we bought while Bitcoin was still struggling.

Yaunfitda

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Quote from: justdimin on June 26, 2024, 08:26:44 AM

Quote from: STT on June 25, 2024, 06:49:14 PM

It wont be the top indefinitely but for now sure maybe and thats a high mark to have. BTC been strong the whole day today from 1am the price action has traded above the 12hr average. Yesterday was a real sharp turn down that only later in that day got back a bit, despite this being a good pullback of those losses its still below where it needs to be to say we have negated the possibility of further movement downwards.

63k is the pivotal area that really needs to be recovered before then regaining what was lost on the first day of this trading week. What all this spells to me is continued fighting back and forth and time needed, Im not yet fatalistic in presuming we lose that fight just that it needs to be fought to determine a victor and establish strength in the volume of that traded price area. This fight aint yet done, Im not seeing that at all.

I agree that it depends on the timeframe we are talking about. Like are we asking if 72k is the peak of this month? Or lets say July because June is ending. Is that the question? Is it that if 72k is the peak for this summer? Is it about if 72k is the peak of 2024? We need to make sure we know what we are talking about before we can make a decision on how to answer this, so I agree that it is not a certain answer.

If the question is will we see 72k+ before July ends? Then I would say there is a possibility that we may not, a high possibility, still doesn't mean we won't see higher, just means we may not. On the other hand, if we are talking about just the summer, then the likeliness of not seeing lower is harder. And even more, if we are talking about 2024, then I believe we will most likely see above 72k.

Exactly, really hard to see where we are at the end of the month, but by the looks of it, $72k might not be hit, in my opinion. On the other hand, why not take this perfect opportunity to stash for more, that is if you have the budget for now, which usually does for big whales and for the majority of us here average joe, continue to do DCA and we will be good. Still plenty of time for us, if we look at 2024. Six months is a lot, things might change for the better in the last quarter and so we should just stay focus and look for the bigger or even look further at 2025 as our goal as usually this is going to be the peak of the bull run and for all we know, 6 digits could be on it's way.

justdimin

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Quote from: STT on June 25, 2024, 06:49:14 PM

It wont be the top indefinitely but for now sure maybe and thats a high mark to have. BTC been strong the whole day today from 1am the price action has traded above the 12hr average. Yesterday was a real sharp turn down that only later in that day got back a bit, despite this being a good pullback of those losses its still below where it needs to be to say we have negated the possibility of further movement downwards.

63k is the pivotal area that really needs to be recovered before then regaining what was lost on the first day of this trading week. What all this spells to me is continued fighting back and forth and time needed, Im not yet fatalistic in presuming we lose that fight just that it needs to be fought to determine a victor and establish strength in the volume of that traded price area. This fight aint yet done, Im not seeing that at all.

I agree that it depends on the timeframe we are talking about. Like are we asking if 72k is the peak of this month? Or lets say July because June is ending. Is that the question? Is it that if 72k is the peak for this summer? Is it about if 72k is the peak of 2024? We need to make sure we know what we are talking about before we can make a decision on how to answer this, so I agree that it is not a certain answer.

If the question is will we see 72k+ before July ends? Then I would say there is a possibility that we may not, a high possibility, still doesn't mean we won't see higher, just means we may not. On the other hand, if we are talking about just the summer, then the likeliness of not seeing lower is harder. And even more, if we are talking about 2024, then I believe we will most likely see above 72k.

philipma1957

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Quote from: Ascended_Intellect on June 07, 2024, 04:28:20 PM

Hello All,

Hope everyone is well!

Playing devil's advocate here, this isn't my personal belief but in fact a viewpoint that I would like opinions on.

Will 76K USD (60K GBP / 70K EURO) ever be reached, no price is certain with BTC as we all know but hearing personal theories is welcome relating to price.

Thanks everyone!

You are still good with this which is impressive.

I wonder if we will ever do it myself.

not really that worried but I do know we never did 70k back in 2021

STT

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It wont be the top indefinitely but for now sure maybe and thats a high mark to have. BTC been strong the whole day today from 1am the price action has traded above the 12hr average. Yesterday was a real sharp turn down that only later in that day got back a bit, despite this being a good pullback of those losses its still below where it needs to be to say we have negated the possibility of further movement downwards.

63k is the pivotal area that really needs to be recovered before then regaining what was lost on the first day of this trading week. What all this spells to me is continued fighting back and forth and time needed, Im not yet fatalistic in presuming we lose that fight just that it needs to be fought to determine a victor and establish strength in the volume of that traded price area. This fight aint yet done, Im not seeing that at all.

Natalim

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Quote from: uneng on June 16, 2024, 12:13:31 PM

Most predictions claim Bitcoin is still going to reach higher price levels this bull run than we have already seen. Some claim Bitcoin is going to hit 80,000$ and 90,000$ on the medium term, while others say Bitcoin is going to hit 100,000$ and 150,000$ by the end of this bullish season. And it really looks like Bitcoin haven't reached the peak of the season yet.

Resistance line is too strong at 72,000$, and that is why you think it could be the peak of the season, although you should also keep in mind that the bull run can last until 2025, so there is a lot to come yet... The advantage of Bitcoin so far is that even though the price isn't able to cross the resistance line mentioned above, support line isn't too bad too, as the price remains stable above 66,000$ level. Things would be bad for investors if we were heading back to 50,000$ or 40,000$ once again.

I believe the final months of the year will be better for Bitcoin, probably from September or October on.

You have nice points here. There's no certain month as to where bullish season will stop so most likely if we can't achieve bull run this year, then it could be the next year around. So let's not pressure ourselves if we still don't find bitcoin price skyrocketing because we still have a lot of months to go but instead, let's just remain hopeful that bitcoin will surprise us one day with it's new all time high. Still, let's be thankful that bitcoin price isn't too low this time, otherwise a lot of investors might go crazy again if we end up seeing bitcoin price dropping below $50k again or $40k.

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Quote from: Asiska02 on June 17, 2024, 11:45:57 AM

Hey, haven’t you seen the all time high of bitcoin now? And bitcoin hit that price in this year even before the halving took place. I have strong believe that bitcoin will soar higher then the current all time-high and it has not yet even to perform as expected since the bull run is yet to begin fully. The speculations about the price will continue but there’s every certainty that it’ll go higher than what you’re envisioning and could possible give us a six figure value in USD when the total peak price it will be after the bull run will be reached. All I have said including yours are all speculations but a more realistic speculation that there’s every certainty that it will be so after the bull run market is over and we approach the bear market.

Price going that high before halving is actually something that some of us can't believe that's why they are also thinking that the halving may not have an effect anymore and only the rich will take over. The institutions are just going to keep buying the newly mined coins in such high amounts while also continuing to keep dumping which will spiral the price as people panic.

Asiska02

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Hey, haven’t you seen the all time high of bitcoin now? And bitcoin hit that price in this year even before the halving took place. I have strong believe that bitcoin will soar higher then the current all time-high and it has not yet even to perform as expected since the bull run is yet to begin fully. The speculations about the price will continue but there’s every certainty that it’ll go higher than what you’re envisioning and could possible give us a six figure value in USD when the total peak price it will be after the bull run will be reached. All I have said including yours are all speculations but a more realistic speculation that there’s every certainty that it will be so after the bull run market is over and we approach the bear market.

legendbtc

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Quote from: uneng on June 16, 2024, 12:13:31 PM

Most predictions claim Bitcoin is still going to reach higher price levels this bull run than we have already seen. Some claim Bitcoin is going to hit 80,000$ and 90,000$ on the medium term, while others say Bitcoin is going to hit 100,000$ and 150,000$ by the end of this bullish season. And it really looks like Bitcoin haven't reached the peak of the season yet.

Resistance line is too strong at 72,000$, and that is why you think it could be the peak of the season, although you should also keep in mind that the bull run can last until 2025, so there is a lot to come yet... The advantage of Bitcoin so far is that even though the price isn't able to cross the resistance line mentioned above, support line isn't too bad too, as the price remains stable above 66,000$ level. Things would be bad for investors if we were heading back to 50,000$ or 40,000$ once again.

I believe the final months of the year will be better for Bitcoin, probably from September or October on.

It's all just a prediction and it may or may not happen, no one dares to confirm that bitcoin will touch 80 or 90k$ in the short term and guarantee that bitcoin will touch 100k$ at the end of this bull season. We couldn't even tell if bull season hadn't started or it had ended, none of us knew what was going on and what would happen next. But as bitcoin investors, we should be optimistic about bitcoin and hope for better growth in the future regardless of the current situation. But bullish does not mean that we have the right to be subjective and ignore bad situations that may occur, always have a backup plan in investing.

philipma1957

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This is a good question. Back in April 2021 I kept saying 70k in may.

Well it did not happen and we need to go to march of 2024 to 70k

So my words we close to a three year jinx on the price reaching 70k .

So I will not predict 80k or 90k or over 100k. As I do not want to jinx us.

I will hope we pass 80 90 100k this year not predict it. 🆗

doomloop

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Quote from: pooya87 on June 10, 2024, 11:29:13 PM

the answer is no, $72k-$73k is not the peak and it will be broken sooner or later as the momentum grows in strength.

And I don't consider $72k as a moon. Because if I'm not mistaken, we already hit it before. In fact, I think our latest ATH was now at $73k? If we believe that a certain high price will take time to achieve, then we also believe that it is inevitable. And that is due to the growing adoption. Negativities in the economy like Recession is not a new thing anymore and like you said, there are still times that it will recover, so this is not something that we should worry about but we can just continue doing our business as usual.

In fact, it may help us to squeeze more coins in our bags, as it can influence the price negatively. $72k-$73k can be the peak but again, no worries because we can always start another rally/bull run again.

Quote from: pooya87 on June 10, 2024, 11:29:13 PM

With some interest rate cuts (since the recession is getting worse and there are so many elections coming up) we can see inflation rise and with it the sell pressure bitcoin experiences could go down which would lead to the big rise we've been waiting for.

Maybe because when there is Inflation, people will look for investment opportunities to save their money but I think it can also lead for some to sell. And there is a recession which makes them lose their jobs.

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Quote from: Ascended_Intellect on June 07, 2024, 04:28:20 PM

Hello All,

Hope everyone is well!

Playing devil's advocate here, this isn't my personal belief but in fact a viewpoint that I would like opinions on.

Will 76K USD (60K GBP / 70K EURO) ever be reached, no price is certain with BTC as we all know but hearing personal theories is welcome relating to price.

Thanks everyone!

the possibility is big that we reach that price before year end, for now bitcoin is down to 66k$ bjt i think this is a temporary down and there is a possibly that when it comeback the price will rise to 76k$ or above, we just need to wait and have a big patience this dropping of price is a normal thing in btc but after this drop there is a rising.

uneng

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Most predictions claim Bitcoin is still going to reach higher price levels this bull run than we have already seen. Some claim Bitcoin is going to hit 80,000$ and 90,000$ on the medium term, while others say Bitcoin is going to hit 100,000$ and 150,000$ by the end of this bullish season. And it really looks like Bitcoin haven't reached the peak of the season yet.

Resistance line is too strong at 72,000$, and that is why you think it could be the peak of the season, although you should also keep in mind that the bull run can last until 2025, so there is a lot to come yet... The advantage of Bitcoin so far is that even though the price isn't able to cross the resistance line mentioned above, support line isn't too bad too, as the price remains stable above 66,000$ level. Things would be bad for investors if we were heading back to 50,000$ or 40,000$ once again.

I believe the final months of the year will be better for Bitcoin, probably from September or October on.

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If bitcoin really passes $70k then $76k can be reached easily, but the main problem right now is because the price of bitcoin is having difficulty breaking through $70k. You can see that so far the price of Bitcoin has been stable between $65k-$70k for quite a long time. all investors are waiting for a bullish moment like in the previous halving and want to see a much higher ATH.

STT

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Still not a likely outcome but for now it might be the top. A top to a bull run is usually put in a more shaky way, alot more volume I think will be involved and hype. My general take trying to use my experience of prior tops is this is all too quiet.

Never short a dull market is a good saying because its not how the ceiling is reached usually. A sharp decline at the top can have us tumble downwards but this recent move was a steady daily drift down from the 72k near attempt. It was more tired then frantic sell, nobody is in a rush here. Others might say well this is a lack of interest but this is not how the bull run ends is still my take on these moves; I'd rather label it a slow cook.

Tiredness or lethargy is how I'd class it and to me that comes from a continual range kept, speculators jump on opportunities and this is quite tired and worn as we repeat the same range as before its not a screaming breakout nor a sell. Of course speculative action can snap up the idea of sell or short to BTC but that would be costly to attempt right now as momentum is lacking in either direction.

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Quote from: btc_angela on June 15, 2024, 06:09:20 AM

Quote from: AmoreJaz on June 14, 2024, 05:56:56 PM

Quote from: YOSHIE on June 13, 2024, 09:21:24 AM

Quote from: Ascended_Intellect on June 07, 2024, 04:28:20 PM

Could 72K USD be the peak for this bull run?

No one knows for sure and accurately what the highest point will be for the price of Bitcoin this year. In terms of speculation, perhaps we will find various speculations that can be seen from Bitcoin expert observers, overall I think the current price of Bitcoin will not increase again, perhaps ending at $72k or $75k.

Outside if we look at the predictions and speculation for the price of Bitcoin, it's scary, some say $150k to $500k for this year, so I will give up speculating on the price of Bitcoin this year, I will surrender to what I see and I will enjoy it all whatever the highest price is.

Anyone can speculate on this market, but the difference is how each user is acting on such speculation. The price may reach as high as 72k, but how many do you think are already accumulating some satoshis to prepare for the potential rise?

And it also show the difference between smart investors and those who fomo, I mean for those smart, they don't complain when the price goes down or decline. They simply accumulate as many as they can. It doesn't mean that it's just for whales though, even the average joe in us, could also do it, like following DCA.

We also know that $72k is not the peak of it, we have seen throughout the years on how the market move in post-halving. And it takes weeks before we can actually see some movement. So just be patience and for sure the last quarter will be a big surprised to us.

Neither smart or already have the experience when it comes to market conditions on which we know that this is something that will really be that indeed vary on a certain individual on which there would really be those been aware on how this market behaves and works and to those people who do become that impulsive at the moment that they would be able to encounter such decline or even on a pumping market on which they are really that becoming impulsive on which it would really be that resulting missing out opportunities or simply making up shit decisions which resulting to loses.

We should really be putting up into our mind that we arent that still yet on bull run season on which we can really be able to say that we arent that on peak yet.
For those who are just new then they would really be having those impressions that we might already been there but its still too early to say,
Market is still that stagnant as of this moment.

Aanuoluwatofunmi

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With this current bullrun, we should expect for the market price of bitcoin in getting to hundred thousands dollars or more before we may end up this season and launch into another one.

Some were already being skeptical whether we are done with the bullrun market or not, because of the way they are sing the market revolving round within the same or close price range for some time now, this should not be a challenge on us from investing or holding because there is more to expect form the volatile market to a new all time high anytime form now.

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