In July do we go bull and pass 75k? - page 5.

mirakal

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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.

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.

Jating

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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.

pawel7777

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Voted "maybe".
On one hand, I believe that, according to the 4-year halving cycles, we should be ripe to start the climb-up. But then again, summer months don't tend to be the best ones when it comes to price growth, and there's the Mt Gox distribution scare still going on, which I believe is already largely priced in (when it comes to the psychological factors) but I imagine many potential buyers would still choose to sit on their hands maybe until August to see how all of this will pan-out.
But overall I'm rather positive. I expect we'll end July in green, but it could be less than $75k.

Odohu

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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'm still bullish as well and very happy for the present market condition because it gives me more opportunity to collect more Bitcoin before we see some upside moves. However, I'm very pessimistic about $75k this July because if Mt.Gox refund happens this July as planned, the retracement will be prolonged and we have to wait the effect out even deep into early September where I expect some good bullish momentum inline with Bitcoin price history. So for now, I do not see any bullish news that will propel price surge to $75k.

ginsan

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Quote from: SamReomo on June 30, 2024, 11:21:30 AM

It's quite hard to say anything at current time but I'm very sure if Bitcoin crosses $70k in first week of July then it can somehow cross $75k as well. However, if the market continues to go down and Bitcoin's value drops to $56k levels then it won't be able to reach or cross $75k value this July.

Seeing that the market is currently slightly increasing may be a sign that in July bitcoin could break through to $75,000 even if it is not the first week if at the end of the month it doesn't matter, it's just that now I can't be sure that this figure will be correct.
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.

uneng

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Quote from: bittraffic on June 29, 2024, 10:04:52 AM

It does look like it's going to dip deeper. It started its own bull run at the beginning of the year. It did break the ATH for a while but then it also hit its peak the overbought level which is now retracing.

If it's going down maybe it will need to hit its bottom again at the price of maybe $57k or the strongest support line I see is the 52k. The market is unpredictable though so this could be a wrong interpretation of this retracement.

Let's see what is going to happen... There are equal possibilities of going up or down. For now, the good news is that Bitcoin surpassed the 61,000$ resistance point once again in a massive instant pump which pushed it to the 61,600$ mark. Right now Bitcoin is doing its best to cross the 62,000$ line. If it does, it's going to be great news to get off to a good start in this next July.

I agree with you that a crash to 50,000$ price zone is possible in case Bitcoin doesn't maintain the support level at 60,000$, and that is why it's important to keep following the charts closely these days. Wrong interpretations are part of the game, anyway. We can see and draw the scenario only on short term and since this market is heavily volatile, tendencies change all the time beyond our limited comprehension and eyesight.

Beparanf

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The market is already showing some recovery since the monthly candle is already closing tomorrow morning. The current price of 61K plus is a good sign that the price once again supported since it doesn’t slide to the critical support on 60K when the selling pressure is strong.

I’m not expected a strong bullish movement that will break ATH but we might see again another retest on the ATH this month based on the price pattern whenever Bitcoin sustained its support.

pooya87

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We've already hit the bottom and tested the strong support at $60k and it looks like there is a bounce back after that. If that turns into a momentum to go up, this time we can break $70k again and head for $75k as well.

Other stuff about the market and global economy hasn't changed and I don't think its effect on the market to be more than what it was so far unless something changes again that is unpredictable right now.

SamReomo

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It's quite hard to say anything at current time but I'm very sure if Bitcoin crosses $70k in first week of July then it can somehow cross $75k as well. However, if the market continues to go down and Bitcoin's value drops to $56k levels then it won't be able to reach or cross $75k value this July.

Solosanz

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I don't expect Bitcoin will break new ATH in Q3, the bull run should be start in Q4. So, hoping Bitcoin will pass $75K in the next month seems not really realistic.

The war that happen in Ukraine and Palestine are not yet ended, moreover the global economy aren't in good situation, so I don't see those are good thing that make people want to invest their money.

Q3 might be the bottom before bullish.

philipma1957

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Quote from: DiMarxist on June 29, 2024, 04:42:34 PM

The expectations.of many is not coming forth and the declining level of bitcoin is disappointing many in the cryptocurrency market and if the price didn't rise next week then the next thing to be expected is the bear market. But as for now we are still in the bull market.

No this is a Bull-Bear market.

Miners are getting crushed = bear for sure

Buyers in the 30k-50k slot are happy = Bull for them.

JiiBs

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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.

June is gone and we had some major unexpected pull back this month, we’re Bitcoin price dropped to $59k in a matter of days. Am sure this wasn’t expected or anticipated by anyone but, it was the event that rocked but, Bitcoin price has been appreciating since yesterday which makes the ATH range look feasible with the month of July set to kick in, in few hours. I have high hopes on what is to come and there have been a couple of positive comments in the news about BTC lately. one of those is the successful ETF launch in Australia and also, news have it that Trump is enthusiastic to attend and speak at a prominent Bitcoin event come July at Nashville.
Having to stay positive and bullish is possible with these developments which doesn’t put $75k very far off.

Sebas.tian

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The end of June came to an end and the price of Bitcoin remain in $65,000 in the market, which show that the price did not go well the way investors want it to go, because many investors want the price to touch $80,000 before they can supply to achieve a passive income. Since the price of Bitcoin is still between $64,000 and $65,000, I think the price will increase above $75,000 in the month of July, because the sign for the month to favour the holders is very close which it will definitely come to pass soon. If you are still holding Bitcoin, you don't need to worry about the current price now, because bullish season that will push holders to release their Bitcoin to the market is approaching which it will definitely break out in the month of July to make their holders smile again.

Marvell1

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Quote from: AbuBhakar on June 29, 2024, 09:36:38 AM

It’s normal that you will still feel bullish now since the price is still doesn’t break the strong support located at 58K to 60K level which is impressive for Bitcoin to withstand until now the potential dump since the current price is still close to the ATH. Normally, Bitcoin should correct near 30%-50% before the ETF was approved but right now it’s so hard to dump Bitcoin that gives hope for an easy recovery.

We are back again to a deciding moment for Bitcoin whether it will recover or continue to dump which is always happening on the end of the month. I’m also bullish too not only on July but this year in general since Bitcoin is showing impressive resilience in longer duration.

But if the price breaks support and bitcoin drops to $50k, should we stop being bullish and sell our bitcoin? I think for people who use the DCA strategy, their only thought about bitcoin is to always be bullish because if they feel scared and not optimistic, they will never use the DCA strategy.

I think we can get through the 2022 bear season and still have the guts to buy bitcoin when it was only worth $15k, so there's no reason for us to stop being bullish at this point. It is true that we have no solid evidence that history will repeat itself and that a bullish trend will come in the coming months. But in the long run, bitcoin will always increase in price and pessimism has never been good for our investments, so I think there is no reason for us to be pessimistic in any situation.

cryptoWODL

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Quote from: DiMarxist on June 29, 2024, 04:42:34 PM

The expectations.of many is not coming forth and the declining level of bitcoin is disappointing many in the cryptocurrency market and if the price didn't rise next week then the next thing to be expected is the bear market. But as for now we are still in the bull market.

Yes many expected that Bitcoin price will reach $100k dollar very soon. When we saw that the Bitcoin ETF was approved in the market then the price of Bitcoin rose higher and touched the new ATH. At the time we thought we might have entered a bull market but since then the market has not grown much but has steadily declined.

We have seen the most bearish trend in the Bitcoin market this month, June. It seems that we are in a bear market. But OP there is no guarantee that the price of bitcoin will go up next week. According to today's market the price of bitcoin is $60,994 dollars, I also saw last night that the price of bitcoin was $61k (thousand). Just like that, the price of Bitcoin is constantly up and down in a short period of time, so are we moving towards a Bear market.

mich

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Well I am still very 'bullish' for the price of Bitcoin. But I do not think we are going to see a price go past 75k in this next month.
We are staying at a sideways price point right now and I do not like it. It does feel we can go down below price of 60k at any time now. I do think we are going to see same price patterns for the next month.

adaseb

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I don’t think we will break ATH in July because the MtGox payments will finally start to move next week. We already had a big dump due to this news which was recently posted on MtGox insolvency reddit and we are now just waiting until the BTC coins finally make a move.

Many are thinking there will be a delay so they are waiting for the coins to move and then we might get some volatility as some of those coins might hit exchanges and get sold.

How much of an impact is hard to say but I think BCH is in trouble since most holders won’t want to keep that.

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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 expect to be able to cross 75k by July, but the market may take some time to cross further, peaking in mid-November.

cryptomaniac_xxx

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Quote from: FinneysTrueVision on June 29, 2024, 03:37:52 PM

ETF demand was one of the main reasons that helped Bitcoin reach new highs earlier this year. That demand has slowed down for now and we are not seeing as much inflow. Because of supply and demand I still think the price will increase but it will happen at a slower pace. There needs to be more to Bitcoin than just price speculation to sustain higher prices. There is a lot of investment in Layer 2’s and maybe this will be a positive impulse that takes the price higher if we start seeing a lot of value locked in these protocols.

The hype on ETF is over, although there is still huge money coming in, it's not enough to be very positive and push the market. And so we need more positive news to fuel the market again.

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 voted for Does not matter do Dca. July is just one month though, so for those who are doing DCA already, they won't look at this short term jump when the price hits $75k. Majority could have been looking at the bigger picture as this is the best approach. Specially that we are in a bull run, $75k might just be the tip, as we can go up to the tune of $150k next year.

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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.

I voted Maybe due to the high volatility of the Bitcoin market and its unpredictable price movement. I still believe that Bitcoin will repeat its 4-year cycle tradition of breaking new ATHs during the height of its cycle's rally.

Quote

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

Who would think that BTC will get defeated (only the anti-BTC and those who do not have trust on capability of BTC would think of that), Bitcoin might face hurdles and stumbled in its short-term market movement but we all know that Bitcoin is not a sprint but a marathon so I believe that eventually, Bitcoin will recover. July might have a sideway movement, that is what I am thinking but who knows, the Bitcoin market might give us a surprise and even surpass your speculation of $75k.

To not miss out I also believe in the power of DCA. We may not feel the gain in a short period but eventually DCA-ing today will give us a good profit in the years to come.

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