Topic: I didn't expect to see it went below 56k (Read 1636 times)

It remains to be seen what will happen in September, but hopefully this will be a good start, even though the bitcoin price is still playing in the $58k-$60k area.

Some Whales also exerted selling pressure and manipulation, putting pressure on Fundamental so that market prices were affected and much more was being done.
It is only necessary to wait for the next bullish to arrive.

The Bitcoin monthly Return Table shows that in September last year Bitcoin went up, and then the peak was in October because October for the last 5 years experienced a good spike in gains and Bitcoin started to be bullish, Hopefully this will be a good reference and follow the previous trend so that ATH $100k will be able to be broken.

The level of panic among traders is always there every month which always makes the price of Bitcoin difficult for us to predict and today the price of Bitcoin is still around $58K even though it almost touched $60K again. I just hope that Bitcoin does not get worse again at the end of this month and can immediately recover early next month with a more positive price recovery because if panic can continue to occur in the minds of many people, it will certainly be difficult to see a price recovery in the near future in Bitcoin.

I saw heavy selling pressure a few hours ago that saw the price of bitcoin drop from $61k to $58k. Even though I had been quite optimistic about the recovery after the previous correction which touched the price of $57k. I'm not sure what caused the price to drop that much in a few hours when the market looked positive, but I know it's hard to know the real reason that caused traders to panic.

Even though some people think that a price drop of $3k is not a big amount, I am sure this drop will make many people careful about accumulating. Even if they want to accumulate, then they should consider DCA instead of buying all at once.

When dealing up with this market then you should really be that making yourself that getting prepared for whatever price condition that the market could bring. It could really be make those extreme dumps or bearish sentiment then later on we've seen the market did make out those huge changes on which it did really resulting up into those neither be profitable or loses on which it would really be that reflecting out on the
on what are the actions that you've been taking and on the decisions that you have set out. Expect the unexpected on which i do highly agree into this word on which we know that it is really that truly
having those unpredictable movements on which it could neither be basing up or not with those sentiments that been shown or currently happening. Just like on what had been said that the market
will really be having that total random path to take on which it would be having those upwards or downwards then it would really be that too hard for you to consider.
Whenever you do make out those kind of predictions and turns out to be positive then it is really just that a good call on what you had made out. It is really just that hard to make out
some decisions because we would really be hindering ourselves on doing such action because we've known about into those probabilities on which it could cause up whether you would be profitable
or not on the certain trade.

We are in a range bound price for BTC so no shock should be available to apply when we are just repeating ourselves here.  I'll only take it as new when we are doing something beyond the boundaries already seen.   I do think we can goto 69k next because we've done it before, another repeat but when I look at the volume I see we are not done with the theme of this thread.

The sheer mass of volume at the bottom of the range for BTC here is too big to end by just drifting away and not looking back. Its a battle left unresolved, the Feb prices for this year are going to get reexamined and any wider comparison longer term is part of that probably.    Quite a bit of this repeating price is the involvement of business who deploy buy programs in their BTC accumulation, I feel like some of this is on purpose and nobody wants to pay that highest price so we fall at that point.


Be more confident when the 50 day average is once again above the 200 day.  Not because thats magic but it reflects the time and inertia required for success in truly rising and staying there.

I am not always shocked when it comes to the price of bitcoin. Bitcoin can pump or dump at any moment, so the dump wasn’t really a surprising thing to me, it was an opportunity for people to grab their bitcoin at a cheaper price. Actually,  I was pained because I had no extra money with me to accumulate more bitcoin when the price dropped. Maybe I will be prepared in case another happens. All I could do now is just keep on holding the bitcoin that I have.
 
What I don’t do is expect bitcoin to get to a particular price at a particular period of time. I know that’s really difficult to predict, and most of the people who predicted bitcoin to hit $80k by month end will end up being disappointed when the dump happens.

Bitcoin price almost broke $65k today, but it failed and is now priced at $64k. I don't think $70k will be hard to touch again if this upward trend persists until the end of August. $70k is an important resistance that needs to be surpassed before $100k is expected. Since dropping to $49k some time ago, there was some doubt about how long the price recovery process would take, but today we have seen that bitcoin price is well positioned to recover soon.

$100k can certainly be expected over the rest of the year, but this really depends on how the FED behaves in lowering interest rates. Investors are certainly affected by the FED's decision, but the issue of interest rate adjustments has generated new enthusiasm for the growth of the crypto market.

Every year is a year for bitcoin, even if the purge reduces to staying positive. It's still part of the things that make Bitcoin. Analysts have predicted that we will see $100k this year, which Bitcoin crossed above $70k before it dropped down to $50k, and now it's above $60k.
 
$70k is about 70% of the predicted $100k. Is that not a good sign that we can still achieve the $100k before the remaining 4 months of the year run out? Even though we did not see $100k in the 2nd quarter of the year, seeing it before the year runs out won't be a bad thing to me. We just have to keep our hope alive and our expectations low.

Now the increase in the price of Bitcoin has also begun to be seen again where yesterday and today the price of Bitcoin has almost returned to $65K again. And that could indicate that the market might not be as bad as it was at the beginning of this month because in a week everyone will end this month with a surprise through the increase in the price of Bitcoin.

Panic due to the decline in the price of Bitcoin can also disappear when everyone sees the increase in price like now so that the level of patience in waiting for the price recovery must also be possessed by every investor in any condition. I hope today's price increase doesn't last long so Bitcoin can get back closer to the $70K level before we enter next month.

Even lets say that you've been here on this market or simply being already experience and aware on how this market behaves or works but still it cant really be avoided for us to have those kind of impulsive actions on which we know that it is really that normal since we dont really like on losing money. Even if you are really that been long time experience towards this market but it wont really be that something that you can avoid
to have those kind of reactions. Just like on what everyone is really that telling that we should really that expect the unexpected because the market could really be move into those conditions on which we do least expect. Even if we do see the market is on bullish sentiment but movement could really be having that negative approach on which this could really make your impulsive.

We arent that still on a bull run market on which there would really be still tons of possibilities that this market would really be having some serious correction on which if you cant be able to bare it out
then you might really be ending up on being that impulsive. This is why you should really be that careful on the things that you would really be doing specially into your trading decision.

Everyone got surprised with how bitcoin price drops drastically, but this just like how a volatile market moves. One day you're up, the next day you're down, and it will continue to move like that most likely. However, I'm still excited what Bitcoin has to offer us in the last quarter of the year. It's certain that there will be price crash due to price correction and market volatility, but we also know that price reversal could happen every now and then, so let's just wait and see.

The truth is that everyone should get used to the market uncertainty as a natural phenomenon, it is only that way that anyone can not be bordering much about the market dynamics at every given point, it is better to focus more on buying than looking at the price hence the reason why the DCA strategy is very important and essential since utilizing the strategy does not require monitoring the market but make purchases of Bitcoin irrespective of the price points on different intervals either weekly or monthly as comfortably as one can be.

Coming to 2024, Bitcoin's value is still relatively good after halving over the past few years. As of the end of August, its current price has reached over $61,000. I think the price of bitcoin will increase further in the future and its price is very likely to go down now but hopefully the price of bitcoin will exceed 70 thousand dollars in the next few months. However, it is not too unusual for Bitcoin to go down as it starts up again and stays at a good level at the end of the day. So I don't see any reason to panic about it. So we need to be optimistic that we should come up with a plan so that we can invest in Bitcoin and hold it in the days to come.

Every year is the year of Bitcoin. Because we have seasons within a year doesn’t mean, winter seasons don’t count as you enjoy summer much better. One season compliments the other and it’s what makes it the more enjoyable.
Bitcoin have got the bears and bulls for a season and it’s what we’ve had to endure all along. Effects from them both. We’ve had the ATH broken even before we imagined it to be in this year, we might as well endure and enduring bearish move on the charts. Bullruns haven’t been known to come immediately after the halving, it always took months to materialize.

External events that we do have then it wont really be precisely making out such effect all the time in crypto market on which we could really be able to say that its not something that you could really be able to
always connect out with crypto space in relation with the price movement. This is where it do makes even more harder for us to predict on where it would be going in terms of value or simply into its price.
This is why it would really be that relevant that on the time or moment that you do deal up with crypto space then you should really be that making yourself that get prepared for whatever things that you would
really be able to encounter. $56k might not really be that the lowest price and we've seen that we've been able to go below 50k on that last dip but now we are already that recovered but of course there would be no assurance that we wont really be going below again.

Just like that been said by most people that it would really be better to make yourself that get prepared for whatever things that would really be happening because on the time that you would really be finding yourself
that easily panic out on the time that the price goes opposite on what you are expecting then pretty sure you would really be that prone into tons of mistake or decisions you would really be making.
This is why on the moment that the price would really be going low and instead on panicking then it would really be better that you should really be that taking this as an opportunity for you to
buy cheap.

There is no chance that the Bitcoin market will reach $38,000 by August. I think those who think that bitcoin will stay like 38000 dollars by this month of August are totally wrong but yes bitcoin went down by this month of August but it was at minimum 49 thousand dollars. Bitcoin hit a high of $49,000 and didn't stay there for long before moving upwards very quickly. Currently the market is standing at 61000 dollars but looking at the market condition nothing can be said but it is expected that the market will go higher. Many people may be worried about investment, I would say you should not worry about your investment, hold tight, surely you will get something good from here.

That is a bold prediction you got there. However, I will ask a question, are there greater economic problems than the pandemic we have in 2020-2021? And during that times, Bitcoin market has survived and even had a bull run and new all time high?

So what makes it different from today's situation? yeah we have the war in the background, but it has been ongoing for quite sometime now. Although there is a new war brewing in the Middle East, but still we also survived that situation. For me, we will have the bull run in the last quarter of the year and we will established a new all time high in the 6 digits.

To say that this year is not the year of bitcoin is not true. This year is still bitcoin's year. This is because in this year, bitcoin touches new ATH.



To be honest, I don't really care about those wild predictions by some analysts. Most predictions are not serious. They are meant to create FOMO in their followers. BTC has not even passed 80k, and 100k seems far away or almost impossible to achieve. I don't think the economic problem is the key factor, but bitcoin is now always following the US market.

It goes up and down based on the US market. As long as the S&P 500 or US stocks don't reach new highs, BTC will be stuck at the same price.

Basically everyone tends to be more prepared in good things, bullish trends will always be easier to accept than the opposite which causes panic, it is in line with human nature in general, but indeed as an investor must really understand all situations whatever happens and be ready to face it, especially planning to invest in the long term.

Yes, but unfortunately they don't see that, usually someone is more likely to panic when the price percentage drops and look at the daily chart, without looking at the monthly or even annual chart to assess a movement in the market, the fluctuation is a natural thing whatever the sentiment, but we must believe that bitcoin will definitely come back and make new history.

In addition to having to understand the bad possibilities that can still happen in the future, everyone also needs to be more prepared to face these bad possibilities because when it comes to bullish and good trends, everyone is definitely ready to face them except those who do not have Bitcoin or other coins when they are in a good trend.

It's not about not being alone or being felt by many people, but something like that is something that maybe not everyone is ready to face, including myself. So I just hope that the conditions will remain fine and not affect the worsening of the crypto market because of this. Because when there is a price drop in any market, everyone should also have time again to see the reversal.