Topic: do u think the BTC bottom is in...? - page 5. (Read 983 times)

There's still a down moment few days later after that announcement but it wasn't really huge as before. Now the price rarely declines but it's only showing an increase. We don't know what will be the future movement of the price but most of us are always optimistic and wants to see a positive movement. In terms of Elon, yes the people are done with him. It started when the doge coin decline too much.

Let us hope that Elon won't comeback again in crypto so that no disruption can take place. We didn't lose 25k but that's only how this market works, that after an increase there will be a decrease and then it will jump again at a better price.

I think Bitcoin's bottom is at $17k, because in June the bitcoin price dropped to $17k and can survive,
of course this is a sign that Bitcoin is strong above $15k, and look at the fact now, Bitcoin reached $24k this month,
and the sentiment on the market is also ongoing with bullish news.

I'm hopeful that it is, we haven't seen any big dumps after getting past $20k and even though it's slow, we're seeing a gradual increase in the price. I might wait till at least it goes past $30, $35k though before actually putting past it crashing back down the gutter. We might end the year at around $40k. After that, it's just a waiting game again to see if it drops back down or continues its gradual increase. Not expecting any big pumps though.

I think quite obviously, unless you have a crystal ball how would you know $17.5K would be the bottom? Sure it's possible to see how this level could act as support, based on volume data from late 2020, as it was the only relevant trading range between $12K and $30K. Therefore calling the bottom should only really be done once price has confirmed strong support, regardless of whether that's 20% or 40% higher. As I referenced previously, if you were looking for certain confirmation of a bottom in 2015 or 2019, then these would arrive anywhere up to 100% up from the low, as well as take several months to confirm. Now it's been around 2 months and price has increased 40% from the low, it's about the right time to consider it, not before.


Simple answer, yes it's possible. Just like most thought that retracing 60% of the bear market back to $14K in 2019 was impossible, doing the same thing again to $50K is entirely possible. Some would argue that it's quite likely even, such as myself. Price doesn't have to end on a high note by the end of the year if $50K is achieved within the next few months either, it could still end up around $25K to $30K.

$30K to me will be the key level to break in order to see price reach $40K to $50K levels in the near future, as it was strong support for 18 months. If 2019 is anything to go by, then this long-term support level could break very easily such as the $6K to $8K level back then, mainly due to the number of trapped shorts and the short squeeze that occurred, which could certainly happen again this time around.

Is it possible?, I think 50k dollars is too much to end the year on such a high note. It is my hope that bitcoin will achieve, but I do not think this will happen. Currently, we are still under $30k, and if the bitcoin price can really break through $30k, we can expect to hit $50k by year end. With the condition that inflation from now to the end of the year will have positive changes like last month.

We can only look at the previous history and can speculate how long this bear market will last. The same thing that we can speculate that maybe the bottom is in already.

This is good thing with crypto though, the data is fairly young, but so far we can extrapolate and predict what will be the next pattern. And now the previous all time high of 2017 is now our support lines, along the line of $20k, so this could be another indication that the bottom might be in for now or at least for this year.

I think a great deal of the forum members will like for that to be the case, however while the bottom is important for a great deal of people what we do not know is how long this crypto winter is going to be? Because the last one we had to go through was incredibly long, not only the price went down to very low levels it remained there for a significant amount of time. Even if the price does not go down to the point we reach a new bottom a lot of people can still panic and sell their coins for a loss as they get desperate because the market doesn't move upwards, now that is not really a problem for the people that have experimented a bear market before, but for all of those that have yet to go through such an experience the next months or years will be incredibly challenging.

bottom is IN? why not post this when the price reach 17k ? now that the price is at 24-25k you are pointing about Bottoming ?

I think this isn't the bottom instead this is the start of the bull market .

it may not reach ATH again , but at least 40-50k usd is in our front this year before closing the 2022 in December .

For me, I can say the $20,000 is the bottom for this cycle, either we visit it again or we did already. Why $20,000? Because from the previous bull run, the top was $20,000 so it was the resistance, and now it is acting as support. I'm very positive with it, like every drop from the current price, the $20,000 support will be tested everytime.

It did make some noise, but after that, the market didn't move negatively, maybe we are expecting it or investors are done with the Elon Musk news, trying to manipulate the market price.

Yes, we have crossed the 200 weekly average and that it goes, we almost tap $25k in the last 48 hours, then went down a bit, but bounce back to $24k. The CPI announcement was really significant news as this might be a sign of bullishness in the coming weeks.

The Tesla sale wasnt even a significant event, he had to swap the BTC out to balance his books and stay cashflow positive in the eyes of Tesla shareholders; Musk looks better for selling BTC but its a decision thats nothing to do with crypto just his lacking in results elsewhere.   Musk bought coins didnt need them didnt do anything with them even spend them and puts it back on the market, big noise no news.
   Price for now in all its back and forth has crossed back above the 200 week average.  Its nothing big day to day but its the action we wanted to see really, it'll take a long while for the cement to dry on this.

I agree with you. There's a small chance, maybe that 20% you're talking about, that we hit 6k of 2018 by being at 23k and a crash to 3k which would be something like 12k-15k range. To be honest this ranges are pretty similar if we look at what the price is doing, but also very different because we did not go to 4k then back to 6k and again to 3k, like this year when we hit a low and returned back to the 200 week average.

To be honest this year looks very unnatural on the charts like the selling pressure is too high, the highest ever in history actually. You can see that it's a manipulated crash made by all those dumps of Tera and Tesla et al.

If the bottom was $17k, It is clear that the bottom ended already.
Something we still don't know when it ends is the bearish period. Although the bearish season is very possible to end in 2024 (BTC halving on May 2024), it can end sooner or later for some reasons. IMHO, there is no certainty in crypto world and there is no guarantee that the history will repeat. So, always be wise to use our funds, even the current Bitcoin price is already around $23k - $24k, it is still possible to drop again below $20k.

Although this month the crypto market seems to be in the green, it's hard to say a Bull Run will happen anytime soon. If we look at the current market conditions, there are no signs that a bull run will occur because the bitcoin price is only in the $23k-$24k area and it is still difficult to break above $27k.

It may have entered the bottom of the market and now the price is looking for a position to start rising and get another rally. We can only guess without knowing whether the price is already at the bottom or will fall again. But the current price has relieved some people because they can start to make a profit even though it is not big. In addition, they can also try to find other benefits with price fluctuations that keep changing up and down. So they can buy low and sell high.

We need more time to make such conclusions. We still see the market isn't moving high, prices went up and down, I'd see no big difference in the past few weeks as the market still behaving the same. If we are at the bottom already, then that's it? I already bought some Bitcoin and currently holding it waiting for the next halving. I have no worries nor do I think drops can be impossible as surely it comes, at least I was already prepared for the incoming.

But I guess we're done at the bottom and we are now moving back high again, slowly.

I also think in a similar way, because regardless of what happened in the past, we must take into account what did not exist then, namely inflation, war and a possible recession. All this will probably affect the extended bear market, and possibly a new bottom, regardless of the fact that many think that we have completely got away with it.

Inflation hit the middle class and the poor the most, because prices really went wild and some food products are even 100% more expensive, not to mention the price of fuel, electricity, gas or electricity. I think that the average person today has nothing or very little left after paying all the expenses, and therefore cannot invest in anything including Bitcoin.

Seriously I don't know that we are into the bullish market of cryptocurrency right now but I believe that the beer market is getting over the way I'm seeing the chat and the level of cryptocurrency or being going up every time and every day but the spot that the price we are targeting is not what we are seeing this time around. so I hope all that the price of cryptocurrency is clamping up gradually and with what I'm seeing right now it's not all about gambling any longer but it is a good time to run investment through cryptocurrency because of the little appreciation bitcoin is getting

we are already at the bottom, but we also don't know when the bottom will actually end,
if according to analysis, the Bitcoin price is indeed bottom at $17k, and has been reached in June,
and now the price is moving up above $22k, Of course, if you can stay above $20k, then the bulls will continue.

Yes. The fact that there is optimism now and tons of indicators saying the bottom is in, I'm confident it's in.
Yes there will be some corrections but nothing will be lower than 17.5k.

If you are waiting for cheap coins I'm afraid this will have to do...