How low could Bitcoin go this time? after all good news is out

LUCKMCFLY

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I still believe that Bitcoin may drop to the $ 43k- $ 45k levels as it has been oscillating between $ 48 and $ 49k respectively, if there is another bearish momentum, the next season is at $ 43k and it coincides with the correction that Peter predicts Brandt, which is normal and natural that you should not panic because there is no reason at all, representing 35% of the normal correction of Bitcoin that has always been presented in history.

For now many of the TA are merely bearish, this can be overridden with some unpredictable movement, however, looking at this analysis, we have to act with restraint in the market, at least in the short term:

Quote

In this case, there are high chances of seeing a test of another vital support at $45,000 soon.

Bitcoin is trading at $49,600 at press time.

Source: https://u.today/btc-eth-and-trx-price-analysis-for-april-24

From what you see on the chart, the figure that forms the Bitcoin market looks very bearish, but the market always surprises us by doing the opposite of what the masses believe and expect.

btc_angela

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Quote from: Argoo on April 22, 2021, 05:10:40 AM

Quote from: Upgrade00 on April 18, 2021, 09:49:00 AM

As low as majority of holders are willing to sell at. Market sentiment determines the price of any currency and during a price drop panic usually sets in, making holders sell at a much lower price to cut their losses.
Currently there a new crop of Bitcoin holders, after different bull and bear cycles, people are now more aware of the value of a coin and willing to hold despite drops in prices. This should indicate that we should not have a huge dump as has been the case at the end of other bull runs.

I predict ~$30,000 to be the bear support.

For now, Bitcoin and potential altcoins in this market should continue their price growth. I think that until the end of June we will still be able to enjoy the bull market, after which there will be a longer correction and a dying out of activity until the fall. I do not foresee a big drop in prices in this market yet. The situation, of course, could change if unfriendly actions towards cryptocurrency are taken by states or their officials.

We are still have strong support at $50k, so not sure about the ~$30k support.

Although bitcoin's dominance is going down, an indication that alt market is moving up, but for me even if the dominance goes down to 45%, I think we can still continue with this bull run. And now that the dust has settled and the price is now confirmed to have a strong support at $50k, I'm not seeing any more dumping in the next 24 hours. But the price could have stall around $50k-$51k.

Argoo

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Quote from: Upgrade00 on April 18, 2021, 09:49:00 AM

As low as majority of holders are willing to sell at. Market sentiment determines the price of any currency and during a price drop panic usually sets in, making holders sell at a much lower price to cut their losses.
Currently there a new crop of Bitcoin holders, after different bull and bear cycles, people are now more aware of the value of a coin and willing to hold despite drops in prices. This should indicate that we should not have a huge dump as has been the case at the end of other bull runs.

I predict ~$30,000 to be the bear support.

For now, Bitcoin and potential altcoins in this market should continue their price growth. I think that until the end of June we will still be able to enjoy the bull market, after which there will be a longer correction and a dying out of activity until the fall. I do not foresee a big drop in prices in this market yet. The situation, of course, could change if unfriendly actions towards cryptocurrency are taken by states or their officials.

slapper

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$45000 is the lowest dip. No point of selling off bitcoin below this price. More instituational investors and whales will join the party and amass as much bitcoin as they can while bitcoin is around this zone

Personally, we have many weeks ahead for bitcoin to recover and retest its current peak. Moreover, even if big institutional investors want to take profit their bitcoin, they can only do it partially. This means the process may take weeks or months. Otherwise, their bitcoin selling price will be very low because no market is able to sustain a big volume while still maintain the price of bitcoin high. In particular, GrayScale now has more than 1 million bitcoin and it is obvious that if they make a full sell of 1 million bitcoin, it will cause a big crisis to the crypto world while the company does not have an appropriate profit from this activity

LUCKMCFLY

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I just read some articles, and Peter Brandt believes that it may go down even more, but for him it does not represent a cause for alarm, he believes that bitcoin can go down up to 35% starting from its last ATH, but he is very optimistic, nevertheless, In another article you can see that the forecast for the technical analyst shows a more bearish movement in the short term:

Quote

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $54,000, followed by $53,500.

Major Resistance Levels – $55,050, $55,500 and $56,500.

Source: https://www.newsbtc.com/analysis/btc/bitcoin-stuck-in-range-55k/

This is in the short term, however everything can change depending on what is presented, any important movement can invalidate any analysis, it is a time of great uncertainty in the market.

justdimin

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Quote from: STT on April 19, 2021, 07:00:02 PM

About 50% is usually the normal negative take on sell offs and I would say any push past that to lower prices is more obviously a time to buy with less hesitation as it relates better to long term prospects even if you had to wait years it wouldnt be totally wrong. Obviously more examination of the chart at that time vs other measures such as FIAT, interest rates, inflation and any other competing standards.

Right now price is descending below a 2 day average price, it has lost momentum for the moment which is a large part of the fastest gains. That can just mean we need to revise lower prices, reset this momentum to steady price expectations then start over and thats happened a few times already this year. Most obvious underlining to YTD lows has been 50 day average I think, I've heard others mention 20 EMA also.

It "could" happen, remember we became 3k from 20k before, the half is 10k, but usually that hurts alts more than it hurts btc, why? Because even though we became 3k, we recovered from that quickly, became around 6k for a very long time, then became around 7k-9k for a very long time, that is not good of course because we were around 20k at one time and now we were around 7-9 and moving in between those numbers so that was bad.

However the second largest crypto in the world was ETH and it dropped from nearly 1500 dollars to as low as 88 dollars at one point, that is around 95% fall, can you imagine bitcoin falling 95% right now? That would make 64k all time high drop 95% and be 3200 dollars right now. That is seriously bad, we wouldn't want that right? But if eth drops it could still become 100 dollars and that is the trouble for people, they are not afraid of their bitcoins (maybe some do) but I am mostly afraid of my alts.

STT

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About 50% is usually the normal negative take on sell offs and I would say any push past that to lower prices is more obviously a time to buy with less hesitation as it relates better to long term prospects even if you had to wait years it wouldnt be totally wrong. Obviously more examination of the chart at that time vs other measures such as FIAT, interest rates, inflation and any other competing standards.

Right now price is descending below a 2 day average price, it has lost momentum for the moment which is a large part of the fastest gains. That can just mean we need to revise lower prices, reset this momentum to steady price expectations then start over and thats happened a few times already this year. Most obvious underlining to YTD lows has been 50 day average I think, I've heard others mention 20 EMA also.

Mahanton

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Quote from: sana54210 on April 19, 2021, 10:39:26 AM

Quote from: Upgrade00 on April 19, 2021, 10:28:08 AM

I'm very optimistic about the current bull run and would not be surprised if we reach six digits before the end of the cycle, but intermittent drops of about 9% is regular and does not indicate the end of the bull run, reason why I used an extreme figure.

Yes, it is really annoying to me when I am seeing people seeking continuous bullish market and if there is a correction then they start shouting like trend reversal. Corrections are part of bull market and people must learn to distinguish between correction and crash as crash is the enough evidence for bearish markets.

I am sure bitcoin may stay below $60k for a while which may be considered as accumulation phase and from such phase all markets are know for leaping up in quick succession. Already bitcoin market started recovering hence I do not expect breaching below $50k levels will not be possible forever.

You would really see these words often anytime the market do make out some correction on where people do always freak out that this is already the start of crash or bearish market without even
trying to look at on whats the actual behavior of Bitcoin when it comes to these kind of situations.There's no way on spotting out a crash until its already there or currently happening.
Presumpting isnt bad but making yourself a bit paranoid is really annoying.Why cant just people doesnt able to treat up these price decrease as normal corrections?
Anytime you do see some price correction then people do normally freak out and telling up some things.

SquallLeonhart

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Quote from: beerlover on April 19, 2021, 07:08:47 AM

I doubt about breaking $50k itself unless otherwise there would be a bad news like what we had by 2015 when mt.gox was shut down (please remember mt.gox was one of the prominent exchange then and only very few other reputed exchanges were in business by Jan 2015). Right now we are strongly moving toward $58k levels and I will not be surprised if we are closing today above $60k as well.

It wasn't even only mt.gox being "hacked", it was the fact that there were insane amount of sold in the market, so not only it created a problem and the news itself was bad, but there was insane amount of bitcoin sold on the market as well, which dropped the price a lot. If we have a news like that, it would have to be like grayscale or microstrategy being hacked and their bitcoins sold on the market, something like that would be equal to what happened in 2015.

We all know mt.gox was a hoax job and it wasn't hacked, and we all know that we will not have any problems at all like that because those were early days and there was a lot of outlaws in crypto, now that we have a lot more regulations and if you do that you may end up in jail for long years, people do not "get hacked" that easily. Which is why we should not be worried about something like that.

sana54210

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Quote from: Upgrade00 on April 19, 2021, 10:28:08 AM

I'm very optimistic about the current bull run and would not be surprised if we reach six digits before the end of the cycle, but intermittent drops of about 9% is regular and does not indicate the end of the bull run, reason why I used an extreme figure.

Yes, it is really annoying to me when I am seeing people seeking continuous bullish market and if there is a correction then they start shouting like trend reversal. Corrections are part of bull market and people must learn to distinguish between correction and crash as crash is the enough evidence for bearish markets.

I am sure bitcoin may stay below $60k for a while which may be considered as accumulation phase and from such phase all markets are know for leaping up in quick succession. Already bitcoin market started recovering hence I do not expect breaching below $50k levels will not be possible forever.

Upgrade00

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Quote from: beerlover on April 19, 2021, 07:08:47 AM

Quote from: Upgrade00 on April 18, 2021, 09:49:00 AM

I predict ~$30,000 to be the bear support.

I doubt about breaking $50k itself unless otherwise there would be a bad news like what we had by 2015 when mt.gox was shut down for

A drop below $50k from the current price levels is about -9%, while my extreme prediction of $30k is about -45%.
I'm very optimistic about the current bull run and would not be surprised if we reach six digits before the end of the cycle, but intermittent drops of about 9% is regular and does not indicate the end of the bull run, reason why I used an extreme figure.

carlisle1

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Quote from: Poker Player on April 19, 2021, 04:40:11 AM

Quote from: Poker Player on April 18, 2021, 10:06:33 AM

What amazes me is how some people get demoralized by a little bump in the road.

As I commented yesterday, in the end nothing happened, and the Bitcoin price is slowly recovering. I guess all these people who are demoralized by a small dip would have died of a heart attack in the early years of Bitcoin, when daily volatility was even higher. If you believe in Bitcoin for the long term, just HODL.

Slowly bouncing, we don't have the exact amount but you can always have your own opinion and your own speculation.

Long term holding is the best thing to do, just keep buying those cheap coins from time to time, no need to worry yourself in times that the price
went down and you see some annoying dumped.

Chill and keep doing your assessment, it will help you to place your timing.

Gozie51

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Bitcoin is enjoying the moment and is not looking like anybody want to start talking about its fall or go what extent it can drop. Everything is going for bitcoin except for few countries that want to deny their people the opportunity to benefit on it but that has not shown any sign to slow down. The hodlers also have not had the feeling to drop their coins because sentiment is still good for bitcoin, at the moment no negative news.

beerlover

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Quote from: Upgrade00 on April 18, 2021, 09:49:00 AM

I predict ~$30,000 to be the bear support.

I doubt about breaking $50k itself unless otherwise there would be a bad news like what we had by 2015 when mt.gox was shut down (please remember mt.gox was one of the prominent exchange then and only very few other reputed exchanges were in business by Jan 2015). Right now we are strongly moving toward $58k levels and I will not be surprised if we are closing today above $60k as well.

Quote from: Poker Player on April 19, 2021, 04:40:11 AM

I guess all these people who are demoralized by a small dip would have died of a heart attack in the early years of Bitcoin, when daily volatility was even higher. If you believe in Bitcoin for the long term, just HODL.

But, I guess people get practice to volatility over the time and moreover early days of bitcoin markets and today's are not having much of differences if you calculate market volatility in percentage. Yes you are right, it is the space only for the people who believe into the future of bitcoin, if not then there will be no meaning of holding bitcoins with heart breaks.

BuNga_cute

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Quote from: blockman on April 19, 2021, 03:31:00 AM

Quote from: tippytoes on April 18, 2021, 05:43:32 PM

Quote from: blockman on April 18, 2021, 05:35:27 PM

Don't panic. Zoom out the charts and you'll realize that it's in good shape that you're missing out. If there's blood, you should be getting more bitcoins if it happens.
Don't miss the train and think there is no more good news. We need them but we need more to see the market as a whole and check the pattern that upon zooming out.

That's right, if we look at bitcoin chart for 1 year and all from coindesk. We are still doing great actually. What more can we ask from this? People are really not contented for what bitcoin has achieved so far. It is hard to predict how low will bitcoin go. But in my opinion, it will not go down below 40k. A lot of good things (financial institutions buying large amount of btc, integration of crypto payment in paypal and tesla, and many other things) already happened to bitcoin this year, and I believe, that will make the bitcoin market more solid and hard to have massive crash.

There's a possibility that they've bought at the top and now complaining that they are only seeing the reds of bitcoin. But to us, we've got no problem on it because we've been through a lot on this market and witnessed several dips and recoveries. This is nothing compare from what we've been up to today because those all time highs were really unbelievable gains and great to see that it happened.

The correction that is happening to Bitcoin at the moment is still normal and there is nothing to worry about, I am optimistic Bitcoin will not drop
below the $ 50k price. In fact, based on the analysis that I did, this week Bitcoin could go back up again above the price of $ 60k. I agree with you,
those who complain about the current decline in the price of Bitcoin, are probably those who bought Bitcoin at the peak price and have not
experienced investing in Bitcoin. For those of you who have experienced investment in 2017/2018, they must see a decline in the price of
Bitcoin as commonplace. So just be patient for those who buy Bitcoin at the peak price, because surely Bitcoin will return to the ATH price of $ 64k again.

Poker Player

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Quote from: Poker Player on April 18, 2021, 10:06:33 AM

What amazes me is how some people get demoralized by a little bump in the road.

As I commented yesterday, in the end nothing happened, and the Bitcoin price is slowly recovering. I guess all these people who are demoralized by a small dip would have died of a heart attack in the early years of Bitcoin, when daily volatility was even higher. If you believe in Bitcoin for the long term, just HODL.

peter0425

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Quote from: rc4739 on April 18, 2021, 09:41:59 AM

any idea?

Bitcoin is still climbing now so i believe that there is no sign of continues downfall/

How Low ? 52,000$ is the lowest yesterday

But There are still warning that I've read recently and tomorrow will be the deciding day if the fall will come badly or the Hype continue.

blockman

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Quote from: tippytoes on April 18, 2021, 05:43:32 PM

Quote from: blockman on April 18, 2021, 05:35:27 PM

Don't panic. Zoom out the charts and you'll realize that it's in good shape that you're missing out. If there's blood, you should be getting more bitcoins if it happens.
Don't miss the train and think there is no more good news. We need them but we need more to see the market as a whole and check the pattern that upon zooming out.

That's right, if we look at bitcoin chart for 1 year and all from coindesk. We are still doing great actually. What more can we ask from this? People are really not contented for what bitcoin has achieved so far. It is hard to predict how low will bitcoin go. But in my opinion, it will not go down below 40k. A lot of good things (financial institutions buying large amount of btc, integration of crypto payment in paypal and tesla, and many other things) already happened to bitcoin this year, and I believe, that will make the bitcoin market more solid and hard to have massive crash.

There's a possibility that they've bought at the top and now complaining that they are only seeing the reds of bitcoin. But to us, we've got no problem on it because we've been through a lot on this market and witnessed several dips and recoveries. This is nothing compare from what we've been up to today because those all time highs were really unbelievable gains and great to see that it happened.

Dewi Aries

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Quote from: rc4739 on April 18, 2021, 09:41:59 AM

any idea?

My prediction price maybe on range $35000 - $40000 will need big things happen to make bitcoin price down below that. I don't have analysis but who bought in high price must not want to lose in their investment, and maybe they are bigger investor that can make price higher so they can take profit with it.

Ararbermas

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As long as there are support ^"hodler it will not go further. Wherein despite of the fluctuation it will bump and still have potential to recover back to ATH or more... This situation of the market seems like due to some greedy hodler already gained enough during the bullish. So for short no need to be worry because afterwards it will a new history.. Just be patient

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