In July do we go bull and pass 75k? - page 4.

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Quote from: bbc.reporter on July 04, 2024, 10:08:18 PM

@retreat. I very much agree hehe. It would be very headshaking if someone would keep announcing that $75k and higher would happen for this month. These types of very bullish people in social media might only be using their followers as exit liquidity or they are not living in reality.

Price is $55,300 already heheheheh.

On MtGox, 47,229 bitcoin has moved from cold storage. This will certainly add to the present fear being felt by everyone in the cryptospace hehehehe.

If I remember correctly, when OP opened this thread, bitcoin price suddenly increased to 63k$ and everyone thought that the 60k$ support level was very solid and would not be broken. It is not surprising that people think that bitcoin will recover and increase in price this month because bitcoin has been correcting for the past 2 months. But suddenly in the past 2 days there has been too much bad news hitting the market, not only Mt.gox but also news from the German government is causing the market to panic. Therefore, it is understandable that people suddenly change their attitude from bullish to bearish.

Yes, no one will be optimistic with the current situation. But I bet you, if in the middle of the month we have a series of good news announced and bitcoin recovers above 60k$ then everyone will be optimistic and continue to dream of the target of 75k$ this month. Bitcoin is very volatile and unpredictable, market sentiment also changes very quickly depending on the situation of bitcoin and that is normal.

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@retreat. I very much agree hehe. It would be very headshaking if someone would keep announcing that $75k and higher would happen for this month. These types of very bullish people in social media might only be using their followers as exit liquidity or they are not living in reality.

Price is $55,300 already heheheheh.

On MtGox, 47,229 bitcoin has moved from cold storage. This will certainly add to the present fear being felt by everyone in the cryptospace hehehehe.

The collapsed Japanese crypto exchange Mt. Gox has transferred 47,229 Bitcoin (BTC) — worth $2.71 billion at current prices — to a new wallet address in its first major transaction since May.

According to blockchain analytics platform Arkham Intelligence, the exchange transferred the Bitcoin at 12:30 am UTC on July 5 out from “cold storage."

Source https://cointelegraph.com/news/mt-gox-moves-billions-bitcoin-unknown-wallet-address

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Not very optimistic that Bitcoin can pass 75k USD this month, considering that there is nothing positive enough to push Bitcoin past its ATH. Even if you look at the current price of Bitcoin, if it can pass 65k that would already be a very good thing for Bitcoin which is currently at 57k USD. But there's no need to worry that Bitcoin will continue to be at this point - if you can, doing DCA is a pretty good thing for now.

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Quote from: Maslate on July 03, 2024, 06:58:14 PM

Quote from: Jating on July 01, 2024, 08:24:24 AM

I voted for "Yes".

This could be the start of what we are all waiting, maybe it's the seasons of the bulls already, and it's the time that there are going to be huge money in the market. So I'm very positive about this month, perhaps miners might have capitulate already and they have sold to keep their mining business operational.

So it's about time for them though to start accumulating again and so are the average joe and institutions to start buying.

The current price is certainly a good buy, and most probably from here bitcoin price will start to move upward and skyrocket few days after. I'm also optimistic that we will be witnessing bitcoin price surging high this time not only because it's highly capable to, but also bitcoin won't be just moving around $60k all the time, rest assured it will also go out from that price zone and entering $70k or above could be a wise option.

If you didn't buy bitcoin yesterday, you will get a much better price today, bitcoin has dropped to 57k$ as I write this comment.

Honestly, I believe that no one wants bitcoin to fall any further because that will also cause our assets to decrease in value but we need to be realistic. The current situation for bitcoin is not good with the Mt.gox news and it is not going away anytime soon so it is unrealistic to expect bitcoin to recover from here.

$70k or $75k is not a very difficult target for bitcoin in the long term but to say it will be reached by July is really difficult and I don't think it is achievable. I'm not pessimistic but with what's going on, we can't expect growth in the short term.

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Quote from: Jating on July 01, 2024, 08:24:24 AM

I voted for "Yes".

This could be the start of what we are all waiting, maybe it's the seasons of the bulls already, and it's the time that there are going to be huge money in the market. So I'm very positive about this month, perhaps miners might have capitulate already and they have sold to keep their mining business operational.

So it's about time for them though to start accumulating again and so are the average joe and institutions to start buying.

The current price is certainly a good buy, and most probably from here bitcoin price will start to move upward and skyrocket few days after. I'm also optimistic that we will be witnessing bitcoin price surging high this time not only because it's highly capable to, but also bitcoin won't be just moving around $60k all the time, rest assured it will also go out from that price zone and entering $70k or above could be a wise option.

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Quote from: philipma1957 on June 29, 2024, 09:29:26 AM

I am still bullish I will dca this month. I also believe we pass 75k in July.

I jumped the gun and started a July poll.

But being into dca and bullish I do not want to back off and accept defeat for btc.

I don't believe btc will get back to $75k by july but it's very hard to judge the market condition right now with the way bitcoin is starting to fall, it looks like bitcoin may end up in the $50k range. But Bitcoin has gone down little by little and the altcoin section is at the bottom. I don't have high hopes for the current bitcoin market, I think bitcoin will go down further and if it goes up, it may not go much higher. And even if it increases, it may go up to $70k. However, since I am not technically or well expert, my words may not be completely true.

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Second and last options for me and maybe only the last option should be in readable print. I cannot summon the testicular fortitude right now to say positive aspirations are just about to be fulfilled.

It seems either a possible breakdown or Im thinking mostly a test of the lows, in conjunction with a 200 day average its fair for this to happen and summer is a lull not a boom fairly often in my memory.

The reason not to go full emo about it and why the last option is underlined in red by default on the internal screens of anyone with some experience is the 200 day is rising, the gloom can also be a rainbow once it clears but we wont know till we do Tongue

I will paraphrase the better traders I know but the direction of the 200 day or any moving average is more important then the absolute transgression of that measure. Moving averages are not support or resistance, its an indication of momentum I guess and its rising but also we are drawn towards the lows of many months to check for sellers remaining etc.

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Quote from: philipma1957 on June 29, 2024, 09:29:26 AM

I am still bullish I will dca this month. I also believe we pass 75k in July.

I jumped the gun and started a July poll.

But being into dca and bullish I do not want to back off and accept defeat for btc.

Making speculations are very ok and normal for anyone , as it is very important for anyone to have considered what they believe in having possibilities of it's outcome as it helps in making an informed investment decision and working towards achieving it, btc will continue to make us smile by increasing in it's value and price as speculated, by different Bitcoin enthusiasts it will only take time but we have to build a good psychology towards achieving our investment goal and objectives.

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Quote from: kawetsriyanto on July 01, 2024, 05:53:25 PM

Quote from: philipma1957 on July 01, 2024, 11:32:58 AM

Well we got to 63k today and 75k is close to that. I still see it in July as of today.

Yep, the highest price is around $63k today. Not sure why this can make $75k be close, I think we are getting away from $75k.
Are you still confident we can reach $75k in July after we heard the issue about Mt Gox to distribute 142,000 Bitcoins to creditors? Mt Gox will start the repayment to creditors since the early of July until October 2024. Many people feel worried about this because it probably brings big impacts to the market if those Bitcoins will be sold onto the market. It is predicted that Bitcoin may drop below $55k, may be to reach $50k again.

References:
- https://coinpedia.org/news/bitcoin-major-sell-off-coming-as-mt-goxs-9-billion-repayment-begins-today/
- https://www.cnbc.com/2024/07/01/mt-gox-about-to-unload-9-billion-of-bitcoin-what-it-means-for-btc.html

If you are worried about the Mt.gox release of 142,000 Bitcoins that will cause bitcoin to drop to 55k$ then I think this information will be useful to you, I don't know how accurate it is but I think it is true.

source: x.com

According to the announcement, Mt.gox will start issuing BTC to everyone from July to October and there will be several options to receive payments, but I guess most will choose to receive 20% because they have been waiting for compensation for the past 10 years. But it appears many investors were compensated months ago, meaning Mt.gox started compensating their victims a long time ago. And I suspect that the reason bitcoin has dropped in recent months is because people have received compensation from Mt.gox and are quietly selling. I mean the selling pressure is no longer great, we don't need to worry too much and the news coming out now could be someone wanting to manipulate the market rather than informing us.

source: x.com
From the chart, it shows that the coinbase premium is negative, which means that the recent selling on coinbase has been strong, but the selling seems to be passing away.

I'm not sure if we can hit $75k this month, but I don't think bitcoin will drop much more or a drop to $55k is very unlikely.

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Like countless others, I have been reading about Bitcoin prices (call them forecasts or predictions) for a long time and I am not impressed with what I have read over the years. Whether Bitcoin reaches levels as low as $50,000 or not, it will not stop those that want to claim it and the same is for those that claim it will hit $100,000.

The problem will always be for people that see their investment as a liability when the price falls instead of remaining optimistic and refusing to sell.

Quote from: Smack That Ace on July 02, 2024, 03:35:06 AM

Who is predicting bitcoin will reach 55k$-50k$ and are they confident that their prediction will happen? Did they open a short position with their prediction or are they just helping to spread Fud about Mt.gox to the market?

I also heard about this news but I really don't understand it hasn't even started yet but why are many of us starting to panic and spread about this? This is like we are helping whales spread Fud and making people sell their bitcoins instead of being bullish on bitcoin.
Because there has not been any further announcement from Mt.gox even though we have entered July but I personally believe that they are just trying to scare us but things are not as scary as we think. There will be no serious dumping just because of this news, which has been spreading for 10 years.

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Quote from: kawetsriyanto on July 01, 2024, 05:53:25 PM

Quote from: philipma1957 on July 01, 2024, 11:32:58 AM

Well we got to 63k today and 75k is close to that. I still see it in July as of today.

Yep, the highest price is around $63k today. Not sure why this can make $75k be close, I think we are getting away from $75k.
Are you still confident we can reach $75k in July after we heard the issue about Mt Gox to distribute 142,000 Bitcoins to creditors? Mt Gox will start the repayment to creditors since the early of July until October 2024. Many people feel worried about this because it probably brings big impacts to the market if those Bitcoins will be sold onto the market. It is predicted that Bitcoin may drop below $55k, may be to reach $50k again.

References:
- https://coinpedia.org/news/bitcoin-major-sell-off-coming-as-mt-goxs-9-billion-repayment-begins-today/
- https://www.cnbc.com/2024/07/01/mt-gox-about-to-unload-9-billion-of-bitcoin-what-it-means-for-btc.html

Who is predicting bitcoin will reach 55k$-50k$ and are they confident that their prediction will happen? Did they open a short position with their prediction or are they just helping to spread Fud about Mt.gox to the market?

I also heard about this news but I really don't understand it hasn't even started yet but why are many of us starting to panic and spread about this? This is like we are helping whales spread Fud and making people sell their bitcoins instead of being bullish on bitcoin.
Because there has not been any further announcement from Mt.gox even though we have entered July but I personally believe that they are just trying to scare us but things are not as scary as we think. There will be no serious dumping just because of this news, which has been spreading for 10 years.

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Quote from: kawetsriyanto on July 01, 2024, 05:53:25 PM

Quote from: philipma1957 on July 01, 2024, 11:32:58 AM

Well we got to 63k today and 75k is close to that. I still see it in July as of today.

Yep, the highest price is around $63k today. Not sure why this can make $75k be close, I think we are getting away from $75k.
Are you still confident we can reach $75k in July after we heard the issue about Mt Gox to distribute 142,000 Bitcoins to creditors? Mt Gox will start the repayment to creditors since the early of July until October 2024. Many people feel worried about this because it probably brings big impacts to the market if those Bitcoins will be sold onto the market. It is predicted that Bitcoin may drop below $55k, may be to reach $50k again.

References:
- https://coinpedia.org/news/bitcoin-major-sell-off-coming-as-mt-goxs-9-billion-repayment-begins-today/
- https://www.cnbc.com/2024/07/01/mt-gox-about-to-unload-9-billion-of-bitcoin-what-it-means-for-btc.html

I guess all of us are not sure about that price to be reached since there's nothing big to come as of the moment. But who knows maybe there will be big demands will came then bitcoin would experience a bullish condition then that $75k would be reached for this month.

Also the problem is that Mt gox repayment scare is maybe affecting the decision of some holders to accumulate since what they think that once that thing will happen then there would be more dump to come. But I guess that news are just been used for so many times since I think there's some institution or groups of people using that news to manipulate the decision making of people. So maybe that affect the situation and with that reason we cannot surpass on $75k and bitcoin will just pump and dump to its current price.

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Quote from: philipma1957 on July 01, 2024, 11:32:58 AM

Well we got to 63k today and 75k is close to that. I still see it in July as of today.

Yep, the highest price is around $63k today. Not sure why this can make $75k be close, I think we are getting away from $75k.
Are you still confident we can reach $75k in July after we heard the issue about Mt Gox to distribute 142,000 Bitcoins to creditors? Mt Gox will start the repayment to creditors since the early of July until October 2024. Many people feel worried about this because it probably brings big impacts to the market if those Bitcoins will be sold onto the market. It is predicted that Bitcoin may drop below $55k, may be to reach $50k again.

References:
- https://coinpedia.org/news/bitcoin-major-sell-off-coming-as-mt-goxs-9-billion-repayment-begins-today/
- https://www.cnbc.com/2024/07/01/mt-gox-about-to-unload-9-billion-of-bitcoin-what-it-means-for-btc.html

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The price is going up again so probably we might see another good rise again before the end of this July. The latest plan now is to have all time high in every month. Last month all time high was $71k and we don't k ow this month own yet but probably it will be $70k because the price is lower than the month of June. And those who invested from the rate of 60k$ last weekend will make their profit in the short time in the month and that should be a short term investment as well.

Those who plan well and invest male good profit from bitcoin investment.

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Bitcoin getting past $75,000 is never going to be a problem, whether it happens in July or later it is going to happen but there is no reason why it cannot fall down again. The real victory for Bitcoin will be if it manages to get to a high price and then stabilises. If $75,000 (or $X) is the new stable price then anything less than that price really means it is not stable, right?

Quote from: philipma1957 on June 29, 2024, 09:29:26 AM

I am still bullish I will dca this month. I also believe we pass 75k in July.

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Quote from: philipma1957 on June 29, 2024, 09:29:26 AM

I am still bullish I will dca this month. I also believe we pass 75k in July.

I jumped the gun and started a July poll.

But being into dca and bullish I do not want to back off and accept defeat for btc.

Early July [Now] The market state shows the signal to rise slowly because the price is open $ 62.734 based on historical data cogecko I see and until now the RSI is still good.
DCA is the right choice to be maintained in July.

For vote, I chose "maybe" and I have done it.

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Quote from: ginsan on June 30, 2024, 02:56:56 PM

If the price of bitcoin is at a lower level then it will be difficult to come back down but now we have to see the market reaction in the next few days.

Market is doing well today and if continue to do similarly for a week then we can see what will happen. I still believe we may see some more dips if market somehow goes down again but there's a chance to see market going upwards only. Let's see what the future holds for us.

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Does July has any specific or special effects on the market to say before we can think market gonna go above 75k, if you planned to do DCA then fine in fact doing DCA should be like price should drop so you can buy and hold more than wait for the better days when price will go higher above what everyone has been expecting. However, I don't think there is anything much gonna happen this month concerning bitcoin rather it would just be on sideways like, moving between 60-70 till finally pull out from the year 2024 to 2025 then we can see the bull run starts uncontrollably where every coin seems to be potential.

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Quote from: salad daging on June 29, 2024, 10:36:43 AM

Doing DCA still continues, but we are still not sure in July bitcoin to $75K is because it is based on the word that Mtgox will distribute their bitcoin to its depositors, although I would be less confident that this will be done by Mtgox.

We have to how the market sentiment in early July which is a few days away will come sometimes the market usually strengthens at any time this is difficult to guess, it's just that we are still doing DCA so what is expected when buying prices is still falling so that's what we want.

Everything is unsure when it comes to bitcoin price prediction. But if we come to analyze the price movement closely, there’s really high chances that we will get to see bitcoin price surging high into $75k or even beyond. The current price is slowly recovering from $61k price drop so if this increase continues and cross over $70k, then in less time, we will be witnessing $75k or beyond. I believe everyone gets optimistic with bitcoin, although at some point our price assumptions fail but due to its high potentials, we still end up consistently hopeful with bitcoin price.

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Quote from: mirakal on July 01, 2024, 08:38:40 AM

Quote from: Jating on July 01, 2024, 08:24:24 AM

I voted for "Yes".

This could be the start of what we are all waiting, maybe it's the seasons of the bulls already, and it's the time that there are going to be huge money in the market. So I'm very positive about this month, perhaps miners might have capitulate already and they have sold to keep their mining business operational.

So it's about time for them though to start accumulating again and so are the average joe and institutions to start buying.

Personally, I’m not really optimistic that this will be be achieved by July, but who knows if bitcoin surprise us once again. We all know that bitcoin could instantly jump 2x or even 3x from its current price, so the said prediction might still be highly possible. However, regardless if it’s a yes or no, or maybe, the most crucial thing we need to focus is to keep on DCAing. I guess there’s no stopping for that, even if bitcoin price will reach its new all time high, it’s still a wise idea to DCA regularly in order to prepare for another future profits. We need to think for long term as always, not only at the present.

Well we got to 63k today and 75k is close to that. I still see it in July as of today.

Topic: In July do we go bull and pass 75k? - page 4. (Read 1280 times)