How low will BTC's market price go? - page 6.

kro55

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Quote from: cryptomaniac_xxx on November 23, 2022, 09:06:22 PM

Quote from: Abiky on November 23, 2022, 04:33:11 PM

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

Really hard to say mate, when we thought that we have reached the bottom at $17,500, here we go again. And with that, lowest low is $15,500, so I would say that we can still slashed $2k based on the previous lowest low then maybe we might be looking at $13,k'ish.

We still have to remember that 2024 will like be another bearish trend, so the market is still open for another leg down before we can finally see the light at the end of the tunnel in 2024. And worst come to worst, $11k is still possible.

It's too hard to know where the bottom of bitcoin is, I'm also one of those who think 17.5k is the bottom of this cycle as we've been struggling to stay above 19k for months. The Fed's rate hike is seen as the biggest impact of bitcoin's further fall, but it seems bitcoin is also insensitive to it. That's also why I think we've bottomed out but in the end the market always gives us surprises.

I believe the crash of FTX is not over yet and this time we will have a new low, not stopping at 15.5k. IMO, this is going to be the worst bear season ever so I'm ready for more bad stuff and more fiat to buy as much bitcoin as I can.

cryptomaniac_xxx

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Quote from: Abiky on November 23, 2022, 04:33:11 PM

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

Really hard to say mate, when we thought that we have reached the bottom at $17,500, here we go again. And with that, lowest low is $15,500, so I would say that we can still slashed $2k based on the previous lowest low then maybe we might be looking at $13,k'ish.

We still have to remember that 2024 will like be another bearish trend, so the market is still open for another leg down before we can finally see the light at the end of the tunnel in 2024. And worst come to worst, $11k is still possible.

OgNasty

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I don’t think that sentiment can get any lower, so it’s mostly about when the collapse is finally contained. Genesis is currently fighting to do right by their lenders and if they can’t then it’s likely we take another step down. Who knows who will be next. Possibly GBTC or even Binance. Once entities stop being forced to raise capital by selling their BTC then things will stabilize and start rising again.

Welsh

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I'd say it highly depends on what sort of domino effect FTX has had on other Bitcoin related businesses. We might also see other businesses in the Altcoin scene go down due to the Altcoins tanking. People lose faith much more easily in Altcoins than Bitcoin.

If we have several more bankruptcies, and god forbid another exchange go down; it could potentially tank further. Although, if nothing bad happens in the next six months, I'd imagine we'd see some sort of recovery. Probably a small increase, but nothing too drastic.

Not that it matters, I wouldn't recommend trying to guess the bottom to invest.

Oilacris

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Quote from: Oshosondy on November 23, 2022, 04:42:28 PM

We are not God or extraterrestrial being that could foresee the future, no one knows what the lowest price would be, but when the bull market will start, many people that do not buy now may miss it, that is why it is good to make use of DCA to invest on bitcoin now.

Heavily agree on this one which is really totally on point which there's no man on this world would able to know on where these prices would eventually go.
We didnt even expect that this LUNA crash + FTX problem could really happen.No one had anticipate for that.

If you are really that already experienced then you would really be seeing this market condition as a solid signal for you to buy.DCA if ever you do have the
money and all sort of things as long you could able to put up yourself on a good position because its really impossible that this market
wont really be making some recovery.

Yatsan

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Some people say that it could go low as $13k while some says it would be at its bottom at $14k. Fact here is no one really knows. But higher tendence to happen is that market behavior could stay at its present state for more months given that there are still no 'event' which could hype up this industry.

Quote from: Oshosondy on November 23, 2022, 04:42:28 PM

Quote from: Abiky on November 23, 2022, 04:33:11 PM

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price.

Do not forget that after Russia invasion, bitcoin price fall below $38000, but increased back the same day and a bull run started for like a week and bitcoin price increased above $48000. All that could happen during war like that is the citizens of the countries that are affected to buy bitcoin at premium price. What really affected crypto price downtrend was because:

this year supposed to be bearish
the Luna and UST scam
the FTX money mismanagement

Quote from: Abiky on November 23, 2022, 04:33:11 PM

The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is

It indicates an opportunity to buy.

Quote from: Abiky on November 23, 2022, 04:33:11 PM

for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

We are not God or extraterrestrial being that could foresee the future, no one knows what the lowest price would be, but when the bull market will start, many people that do not buy now may miss it, that is why it is good to make use of DCA to invest on bitcoin now.

Foreseeing is impossible especially to such assets having too volatile market price. Unlike with gold and ither assets which are continuously rising over years. In this industry, not only with Butcoin, there are just seasons or periods wherein the demand increases continuously but also periods wherein it is low such as with the present, caused by factors.

Oshosondy

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Quote from: Abiky on November 23, 2022, 04:33:11 PM

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price.

Do not forget that after Russia invasion, bitcoin price fall below $38000, but increased back the same day and a bull run started for like a week and bitcoin price increased above $48000. All that could happen during war like that is the citizens of the countries that are affected to buy bitcoin at premium price. What really affected crypto price downtrend was because:

this year supposed to be bearish
the Luna and UST scam
the FTX money mismanagement

Quote from: Abiky on November 23, 2022, 04:33:11 PM

The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is

It indicates an opportunity to buy.

Quote from: Abiky on November 23, 2022, 04:33:11 PM

for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

We are not God or extraterrestrial being that could foresee the future, no one knows what the lowest price would be, but when the bull market will start, many people that do not buy now may miss it, that is why it is good to make use of DCA to invest on bitcoin now.

Abiky

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This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

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