I didn't expect to see it went below 56k - page 8.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

I guess everyone less expect this to happen, but knowing bitcoin is highly volatile, then we can't take control of its price. And right now, you are predicting that it will drop more and touch $38k later on? I won't dare to reject that idea but I have this feeling that bitcoin price won't drop below $50k this time. And if ever it is, that's just good to say that bitcoin is preparing for another price skyrocket that could reach an amount 2x or even 3x from its current price. Bitcoin is undeniably unpredictable, yet I'm more optimistic to see price recovery and price surging high after this.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month.

Many of us did not expect to see Bitcoin at $56,770 and we were shocked and I think still we should be expecting more dip after the market recovers a little. There has to be a follow up correction as everybody was taken unaware and people need to sell after they have bought this dip. We were all bullish towards Bitcoin breaking a new highest price this month which can still happen because Bitcoin has the potential to recover very fast and continue in an upward trend but all of a sudden Bitcoin has started dipping. Some people are saying this is not going to be the lowest price after the halving and they are calling for $50,000 which is now looking more likely to happen after this last dip has sent the price of Bitcoin below $60,000.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

Everything gets possible with bitcoin, no matter how we think that's quite impossible to happen. So I'm now more open seeing bitcoin in the next few days dropping its price more dramatically. But in all honesty, I'm still hopeful that we will see more price increase and recovery in the next few days, which I think is also possible if we will experience current positive news and updates about bitcoin.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

I don't know if bitcoin price will stay at $38k this month but the market signs are not very good. Today, almost everyone feels bad about the way unique coin prices have started dumping, including the Bitcoin market. I expected Bitcoin to stay close to $60000 and gradually move upwards. I'm in a lot of volatility right now because I had a lot of $$ a few days ago but the market is dumping more and is currently taking my portfolio down a lot which is feeling a lot of volatility. However, I stopped watching the market to brace myself during this dumping period. I don't know if the market will grow again but it can be estimated that the market will grow by 2024. To those who have invested I would say hold on to your investment. Control yourself even if you feel restless at the moment. And those who want to invest can get ready to invest because the time to invest has come. But right now I think investing in DCA method is most acceptable.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

And it just shows how unpredictable the market is, we thought that we will go to $70,000 as last month was really bad, but at the start of July we went to $63,000 and now suddenly we are way below but the good this is that we were able to bounce back, just check the price and now we area at $58,000 and it looks like this is the support for now and hopefully the trend can continue and hop and break the next resistance at $60,000.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Will the price touch $38k this months?

Anything goes with the market right now, we are bearish, but I do not see that the market going on the price at it is way below. If you are asking because you are going to buy on that level, then I would advise not to wait for it but take the advantage that we are below $60,000 and that is good enough entry level.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period?

Why are you surprised - this is normal and prices can fall and rise whenever there is a trigger.
I'm not sure what's next - but if you're already invested in it, then accumulate and be patient. This is simply the best advice I can come up with - but remain optimistic about the future potential considering the impact of the halving is yet to really be seen. Wait at least 15 to 18 months after the halving - then see what happens.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

No - this is not surprising. Expectations sometimes don't match reality - so I should have considered it all as a risk of investment.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Will the price touch $38k this months?

Most likely not - there is strong support below and that strongly supports it not falling further. But now - what are you waiting for and what do you want?

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month,
~

Unexpected - yes, but not really surprising. Bitcoin has had its ups and downs in the past, and a 27% drop, while significant, is not unheard of for this volatile asset. As investors it is wise to keep some perspective during times of market turbulence. No one truly knows what the future holds - the price could continue falling or reverse course at any moment.

zooming out a bit, it is important to remember Bitcoin's tremendous growth trajectory over the last few years. Short-term price corrections can feel jarring in the moment, but may cause less distress for those taking a long-term view and avoiding overexposure. Time will tell whether this is just another bump in the road or part of a larger correction. Patience and discipline are key.

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Quote from: mk4 on July 04, 2024, 11:37:23 AM

The all-time high ($73.7K), down to $56K, is only approximately a 27% drop. And if you take a look at bitcoin's historic drops, let me tell you — 27% is NOTHING lol so there's really nothing to be surprised for here.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Will the price touch $38k this months?

Welp, no one knows, but I won't be surprised if we reach that and I won't be surprised either if we don't reach that. BTC is simply just such an unpredictable asset.

Reminds me of this:

Especially focus on 2013 and 2017 as these were bull market years and count how many significant drops there were in each of these years!
We were in bull market, about to reach an ATH and we had to go through 4 or 5 corrections to get there.
Now display this current bull market in a 1d chart and you'll see that this is only the third significant correction of this year, the first being in January.
We could easily go back to 40k this time and go back to a new all time high this year and it wouldn't be anything out of the ordinary for bitcoin.

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Quote from: LFC_Bitcoin on July 04, 2024, 01:29:00 PM

People who want to wait for a supposed dip to $38,000 won’t buy. They’ll convince themselves they’re going to wait until $20,000 then and it won’t come, they’ll remain in fiat and full of regret.

We’re already over 20% down from the ATH, what more do you want. It’s early in the bull run, next year is the main pump. Now is the time to buy, not wait for a price that may not arrive.

I hope every investor would understand that seeing the price decline in this way even when all hope is based on seeing the price make new price mark, it shouldn't have to come as a suprise because that's what the market is all about, very volatile and even with facts to back up predictions the market may decide to go side ways.

Since the market can be sometimes misinterpreted, we should endeavour to kick up on how we accumulate Bitcoin, whether in DIP or not but base on the current price we should acknowledge and make good use to accumulate more, it might end up being the DIP we hoped for before the bull run begins.

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I have stopped to imagine what the next price of bitcoin will be or when the price will get to a certain amount when I’m foreseeing it. Bitcoin is a very volatile asset and despite his retraces back to its original trend, it always end up shocking people and not always going as predicted. I love the pattern of indecision it gives to speculators. One thing is just for sure that bitcoin will grow to an unimaginable level after all this retracement and change of pattern it is currently witnessing. Let the holder keep holding, while those apply DCA keep building their portfolio further. These are rare opportunities and they come not quite often.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Market sentiment has been somewhat negative of late considering Mtgox's coin distribution plans. Many traders or shareholders may sell their holdings to make a profit, but there is also the possibility of manipulation in the current market by whales. A large movement of bitcoin from wallets to exchanges will cause panic, especially if BTC enters the market in large quantities.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Will the price touch $38k this months?

No, but who knows?

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Quote from: uneng on July 04, 2024, 02:11:05 PM

I believe once the distribution by Mt. Gox happens, the scenario starts improving for Bitcoin once again. There is a lot of fear and pessimism among investors due to Mt. Gox exchange, US and Germany governments dropping large sums of Bitcoin on the market. So we just have to wait for this to happen for that wave of pessimism fade out.

The current further drop may be a result of traders taking advantage of the news about the MT. Gox coins disbursement. The traders are possibly shorting their orders so that they can accumulate when the distribution of the coins to MT. Gox victims started. The 9B dollar amount of coins to be released on the market is huge of a supply and many think that a fund this huge would greatly affect the supply of the Bitcoin market and a possible dip for the market price. Also this:

Quote from: ginsan on July 04, 2024, 02:32:54 PM

I read the news on X that is associated now more Germany has sold BTC that has been confiscated this may cause the market to crash, do not panic because if this news is over then bitcoin can recover again.

This is also a good opportunity for people who want to re-enter the Bitcoin market and for those who love to DCA their way in accumulating Bitcoin. However, I am not seeing BTC to drop $38k or below since a demand pressure my flock in once Bitcoin dips down below the $50k area. Aside from that there are also good support above $50k unless these supports are taken off, Bitcoin might recover even before it touches $49k.

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Quote from: edward500 on July 04, 2024, 11:12:15 AM

Anything is possible with bitcoin, Mt gox coins, Germany and USA dump I believe is the reason why the price is dropping.

Why buy bitcoin at 70K, when you can buy it much lower when all of these coins hit the market.

I read the news on X that is associated now more Germany has sold BTC that has been confiscated this may cause the market to crash, do not panic because if this news is over then bitcoin can recover again.
Maybe you thought when you bought at $70,000 bitcoin would go up but when the price fell, you still wonder if it will go down deeper while we don't know where the lowest point is at the current price or will go down again.

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56,000$ was expected, due to the bearish news for July. Those who were attentive to the recent events predicted this potential scenario with success. And it's possible Bitcoin's price still crashes deeper. I just hope it doesn't reach 49,000$ or below.

I believe once the distribution by Mt. Gox happens, the scenario starts improving for Bitcoin once again. There is a lot of fear and pessimism among investors due to Mt. Gox exchange, US and Germany governments dropping large sums of Bitcoin on the market. So we just have to wait for this to happen for that wave of pessimism fade out.

Anyway, why is 38,000$ being mentioned here? There isn't any reasons to conclude a prediction like that yet, since we are still above the 58,000$ price range. Despite the bearish tendency, Bitcoin is maintaining its price inside a stable price zone. 38,000$ looks an unreasonable prediction based on despair and fear after the recent crash from 63,000$ to 56,000$.

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Quote from: LFC_Bitcoin on July 04, 2024, 01:29:00 PM

People who want to wait for a supposed dip to $38,000 won’t buy. They’ll convince themselves they’re going to wait until $20,000 then and it won’t come, they’ll remain in fiat and full of regret.

We’re already over 20% down from the ATH, what more do you want. It’s early in the bull run, next year is the main pump. Now is the time to buy, not wait for a price that may not arrive.

People like this only doubt but do not take action to buy when the price is decreasing, as you said when the price, for example, falls to $38K he will wait for it to drop again this is because he wants to get a low price value but doubts the ability to increase bitcoin.

Don't know why he keeps thinking "is this month to $38K?" the fact is no one knows, it's better to buy now and if the price drops to $38K buy again what's hard to do that right?
If I were many who would not think about unclear prices but would think about the current price to buy immediately not to delay.

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People who want to wait for a supposed dip to $38,000 won’t buy. They’ll convince themselves they’re going to wait until $20,000 then and it won’t come, they’ll remain in fiat and full of regret.

We’re already over 20% down from the ATH, what more do you want. It’s early in the bull run, next year is the main pump. Now is the time to buy, not wait for a price that may not arrive.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

As for this month, i think bitcoin will be more volatile than before and we should be preparing for as low as $52,000 dip and also expect for more pump in the other direction to about $72,000 because this month is seen as the type that will be more orchestrated by high market volatility and from the way we have seen it appearing this early, we should expect the opposite before or towards its end, but not as OP had predicted for the market to go dip to $38,000 this season.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

The market can be sometimes very unpredictable, that was why I was telling somebody the other time that $80k benchmark just within the month of July is unrealistic, but I still believe it will bounce back to sixty something. I was even surprised to see the amount go down to 56, I wasn't expecting that especially now that people are looking forward for a new ATH, though the dip too allows for more affordable accumulation if you look at it on the side, but i don't subscribe to seeing it fall down to $38k as you are speculating OP, because I don't see any indices suggesting it will get down to that level.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period?

Please don't be surprised because it's also the same feeling when Bitcoin goes oppositely. And always think of the possibility that the answer to your question is a yes because of it being volatile.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month.

Not shocking and it's not low compared to the past months. And it's true that we're thinking of a higher price but don't be too quick to see them because the time will come soon and we'd hit that $80k mark and even more.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

The year hasn't ended yet and this bull run would take more than a year so let's wait and see up to next year.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Will the price touch $38k this months?

As for this, we might it see it decrease down to $50k but I don't think $38k.

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Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Bitcoin got to all-time-high before halving which is an indication that history is not repeating itself this time around. But the market can deceive sometimes in a way there would be a bear market but followed by a massive bull market.

Quote from: Perfectbaby on July 04, 2024, 11:03:43 AM

Will the price touch $38k this months?

What people have speculated is that bitcoin could fall below $45000. The next very strong support would be $50000 but there would be some strong support even before it got to $50000 if provided that bitcoin will fall to $50000. It would be hard for bitcoin to break $50000 even more than as it broke $60000. As for $38000, I do not think bitcoin will fall that low.

Topic: I didn't expect to see it went below 56k - page 8. (Read 1636 times)