Is $34k the bottom?? | Bitcointalksearch.org

Captain Corporate

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Quote from: Russlenat on January 30, 2022, 05:12:14 PM

Experts have different opinions IMO, they are not all bullish or bearish, however, most experts just ride on the current situation, they ride more when the market is bullish because they will make money when the market is bullish, especially those who have plenty of followers on their streaming platform.

The best thing to do is just follow the trend, just check the history and if it suggests that we will remain in a bear market, we should not contradict our belief as the trend will always be followed no matter how unpredictable bitcoin's price is.

I guess that most "experts" are not even real experts, that is the main problem. They are just people who think they are experts but mainly just look at the charts and check the indicators and tell us what it "should" do. Doesn't mean that it will do what it should do, crypto is known for doing stuff that are unexpected and opposite of what people believed in. This is why caring about these type of "experts" may end up losing you money. Plus I have seen too many people who write like 20 coins, then a month later one of them goes up and they act as if they were right all along when the other 19 didn't do so well, their average could be low, or even negative but they will always act their best bet was their only and biggest bet.

antmex

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No one knows if this is the bottom. I personally think there are more sellers at the moment and price can easily go lower. https://de.tradingview.com/x/DYVcgqc6

Russlenat

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Quote from: Doell on January 30, 2022, 04:59:46 PM

heard a little some expert analysts regarding February ,ah hope they are right february is the middle of q1 which can hit back to 40K could be even more

Experts have different opinions IMO, they are not all bullish or bearish, however, most experts just ride on the current situation, they ride more when the market is bullish because they will make money when the market is bullish, especially those who have plenty of followers on their streaming platform.

The best thing to do is just follow the trend, just check the history and if it suggests that we will remain in a bear market, we should not contradict our belief as the trend will always be followed no matter how unpredictable bitcoin's price is.

Doell

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Quote from: bitzizzix on January 30, 2022, 12:10:38 PM

The Bitcoin price is currently holding around $37,000 more after hitting lows above $33,000+ which I don't think the bitcoin price will fall back on.

I want also have the same thoughts but q1 of this year is not over yet ,correction might happen again and below 33k hope i'm wrong

Quote from: bitzizzix on January 30, 2022, 12:10:38 PM

and according to some analysts said that the correction in the crypto market is expected to end soon, at least in early February and I hope that is true.

heard a little some expert analysts regarding February ,ah hope they are right february is the middle of q1 which can hit back to 40K could be even more

bitzizzix

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The Bitcoin price is currently holding around $37,000 more after hitting lows above $33,000+ which I don't think the bitcoin price will fall back on.
and according to some analysts said that the correction in the crypto market is expected to end soon, at least in early February and I hope that is true.
and whatever the reason and with the news circulating, I think the bitcoin price is currently struggling towards $40,000, and looks like it will be in February.

Pamadar

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Quote from: DoublerHunter on January 29, 2022, 04:51:13 PM

^ There are sometimes we are happy because there are a lot of BTC investors like institutional investors and also those big investors, we don't know that someday they will also our enemy because they can harm the market when all of them start selling their portfolio in the market. When they sell, it will surely move the market price. However, I did not believe the BTC price will down beyond $30k.
We are soo lucky because the price did not fall down that far.

As per current value, yes, the value didn't fall to that level and now fighting to reach $40K again,

I see that institutional investors who bought from a much higher value might be buying those cheap coins to add in their
holdings, but there's no way to track them all are just assumptions that those investors are not willing to let the market
to dump that hard.

Whatever the plan is behind, we should always have our own assessment and have an appropriate plan to avoid huge losses.

Chato1977

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Quote from: DoublerHunter on January 29, 2022, 04:51:13 PM

Quote from: eaLiTy on January 28, 2022, 08:05:42 PM

Quote from: FanEagle on January 28, 2022, 02:59:52 PM

~
Everyone calculates the drop from 20k to 3k but the reality is that the drop was from 20k to 6-7k level like you said, and it even looked like it was about to go parabolic because all the charts showed it and yet because of one idiot rich person it dropped down even more and it took us a year or so before it recovered.

Any difference this time around ? It will be the same scenario, everyone were celebrating when institutional investors were pumping money in the market and those investors can sell off the coins anytime and might drag the market down. So even in this instance anything is possible and the amount of money pumped by a few institutional investment firms is more than enough to drag the market down.

^ There are sometimes we are happy because there are a lot of BTC investors like institutional investors and also those big investors, we don't know that someday they will also our enemy because they can harm the market when all of them start selling their portfolio in the market. When they sell, it will surely move the market price. However, I did not believe the BTC price will down beyond $30k.
We are soo lucky because the price did not fall down that far.

that is part of the market , this is why crypto is volatile and also can be manipulated , but if we will not contribute on that selling of investors instead if we will keep our funds intact then they will not succeed and market will stay strong even how large their amount of crypto on hand to sell.

suzanne5223

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Quote from: peter0425 on January 29, 2022, 07:19:43 AM

Quote from: Luqman on January 28, 2022, 07:59:25 PM

Quote from: suzanne5223 on January 28, 2022, 06:32:40 PM

$34K or not. It's hard to tell the bottom price of the Bitcoin market because we are in the season where the chart prediction are mostly not valid though

Exactly. It is very difficult to determine the bottom price of Bitcoin. I am also not sure what the price to be the bottom, it can be $34k or even lower than $34k. The drop in Bitcoin price seems not over, I think there will be another drop to come in the near future. So, because the price of Bitcoin still has a possibility to drop below $34k, we cannot claim it is the bottom price for now.

Actually it already dropped below OP's price as the value of Bitcoin drop down to 33k recently after this post has been made so i actually aiming for the lowest at least 30k.

But Yes none of us can predict what will come , either high or lower than this , yet I care nothing because i expected this to happen this year as the evaluation is seemingly a Bear market for 2022 , and maybe until 2023 till Mid?

@Peter0425, $$33,184 was the last bottom rice but I expect it to go below that before the Q4 of this year market and evaluation the bear market to happen till next year thats if the market still replicates the previous market correction trend just like we always see after the ATH price.
The major reason why the bear trend hasn't taken over the market is the Micro strategy and El Salvador government accumulation whenever the market is dip and Micro strategy make a bullish statement of not selling even when the market is in a blood bath.

DoublerHunter

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Quote from: eaLiTy on January 28, 2022, 08:05:42 PM

Quote from: FanEagle on January 28, 2022, 02:59:52 PM

~
Everyone calculates the drop from 20k to 3k but the reality is that the drop was from 20k to 6-7k level like you said, and it even looked like it was about to go parabolic because all the charts showed it and yet because of one idiot rich person it dropped down even more and it took us a year or so before it recovered.

Any difference this time around ? It will be the same scenario, everyone were celebrating when institutional investors were pumping money in the market and those investors can sell off the coins anytime and might drag the market down. So even in this instance anything is possible and the amount of money pumped by a few institutional investment firms is more than enough to drag the market down.

^ There are sometimes we are happy because there are a lot of BTC investors like institutional investors and also those big investors, we don't know that someday they will also our enemy because they can harm the market when all of them start selling their portfolio in the market. When they sell, it will surely move the market price. However, I did not believe the BTC price will down beyond $30k.
We are soo lucky because the price did not fall down that far.

peter0425

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Quote from: Luqman on January 28, 2022, 07:59:25 PM

Quote from: suzanne5223 on January 28, 2022, 06:32:40 PM

$34K or not. It's hard to tell the bottom price of the Bitcoin market because we are in the season where the chart prediction are mostly not valid though

Exactly. It is very difficult to determine the bottom price of Bitcoin. I am also not sure what the price to be the bottom, it can be $34k or even lower than $34k. The drop in Bitcoin price seems not over, I think there will be another drop to come in the near future. So, because the price of Bitcoin still has a possibility to drop below $34k, we cannot claim it is the bottom price for now.

Actually it already dropped below OP's price as the value of Bitcoin drop down to 33k recently after this post has been made so i actually aiming for the lowest at least 30k.

But Yes none of us can predict what will come , either high or lower than this , yet I care nothing because i expected this to happen this year as the evaluation is seemingly a Bear market for 2022 , and maybe until 2023 till Mid?

eaLiTy

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Quote from: FanEagle on January 28, 2022, 02:59:52 PM

~
Everyone calculates the drop from 20k to 3k but the reality is that the drop was from 20k to 6-7k level like you said, and it even looked like it was about to go parabolic because all the charts showed it and yet because of one idiot rich person it dropped down even more and it took us a year or so before it recovered.

Any difference this time around ? It will be the same scenario, everyone were celebrating when institutional investors were pumping money in the market and those investors can sell off the coins anytime and might drag the market down. So even in this instance anything is possible and the amount of money pumped by a few institutional investment firms is more than enough to drag the market down.

Luqman

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Quote from: suzanne5223 on January 28, 2022, 06:32:40 PM

$34K or not. It's hard to tell the bottom price of the Bitcoin market because we are in the season where the chart prediction are mostly not valid though

Exactly. It is very difficult to determine the bottom price of Bitcoin. I am also not sure what the price to be the bottom, it can be $34k or even lower than $34k. The drop in Bitcoin price seems not over, I think there will be another drop to come in the near future. So, because the price of Bitcoin still has a possibility to drop below $34k, we cannot claim it is the bottom price for now.

AmoreJaz

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Quote from: Ryker1 on January 28, 2022, 07:53:35 PM

Quote from: suzanne5223 on January 28, 2022, 06:32:40 PM

$34K or not. It's hard to tell the bottom price of the Bitcoin market because we are in the season where the chart prediction are mostly not valid though $34K is the current bottom price now but that doesn't mean it will still be the bottom price when it Q4 of this year.
I expect the last bottom price to be around $20K.

Well said, --it is hard to tell because the price is unpredictable.
I appreciate people who were looking forward to a bitcoin price that will pump up, I never doubt bitcoin that goes beyond $30k and as I think, --that is a normal correction which is I know bitcoin will always experience like that, it will always fluctuate.

the OP should ask the timeframe because asking this question is quite vague. we are just starting this year, so we have no clue what may happen in the next coming months. but if he asked - is $34k the bottom for this month (Jan), then, i guess we can easily answer such question.
also, i don't see any valuable reason asking this question. what would be the OP's intention why is he asking this? because anyone can give their own answer here and for what?

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Quote from: suzanne5223 on January 28, 2022, 06:32:40 PM

$34K or not. It's hard to tell the bottom price of the Bitcoin market because we are in the season where the chart prediction are mostly not valid though $34K is the current bottom price now but that doesn't mean it will still be the bottom price when it Q4 of this year.
I expect the last bottom price to be around $20K.

Well said, --it is hard to tell because the price is unpredictable.
I appreciate people who were looking forward to a bitcoin price that will pump up, I never doubt bitcoin that goes beyond $30k and as I think, --that is a normal correction which is I know bitcoin will always experience like that, it will always fluctuate.

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Quote from: ancafe on January 28, 2022, 03:17:14 AM

well, i didn't expect that, and wished otherwise. other than that, it looks like the current bitcoin price has stabilized quite a bit after its decline. in fact, I feel that the recovery could be quicker than we think.
however, hoping the bitcoin price is under $20k is possible. however, I really didn't expect that.

You have to be ready for It. Bear Markets don't last that short like Bull runs. Bear markets according to the Bitcoin price cycle can even go for 3 years and each time there is a drop or price rise, Bitcoin ends up in a new level.

Personally, I think this time round, the 8K level will be a very strong support level we will ever have since the 3K level in the previous bear market. If the price drops to that level, I will look at it as an opportunity of gathering more sats.

suzanne5223

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$34K or not. It's hard to tell the bottom price of the Bitcoin market because we are in the season where the chart prediction are mostly not valid though $34K is the current bottom price now but that doesn't mean it will still be the bottom price when it Q4 of this year.
I expect the last bottom price to be around $20K.

Johnyz

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Quote from: Tellek Garing on January 28, 2022, 02:27:03 PM

Quote from: Zilon on January 25, 2022, 05:24:21 PM

You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is to wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further

At this point Bitcoin is relying on the 37k benchmark which happens to be the present resistance level for the market, at the moment is going to take a strong pull up to break the price into the next bull level which will be somewhere around 42k and above.
Am sure in the coming day Bitcoin is going to make a drastic change in its price.

Its been days now since Bitcoin price starts to recover and it looks like a strong recovery, we might already hit the bottom price and its a good thing that it happen early this year. Hopefully you’re right, let’s see the best price of Bitcoin this year and it will slowly back to the top, $37k can be break for sure and the trend will continue.

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Quote from: FanEagle on January 28, 2022, 02:59:52 PM

This is something people do not even care about anymore. If people could have realized that the drop was because of a feud between few bitcoin rich people, then they would know that they would not see something like that again (probably). Because at the end of the day, we are talking about something that is dangerously rare and yet people act accordingly.

Everyone calculates the drop from 20k to 3k but the reality is that the drop was from 20k to 6-7k level like you said, and it even looked like it was about to go parabolic because all the charts showed it and yet because of one idiot rich person it dropped down even more and it took us a year or so before it recovered.

The situation may never be the same as 2018, but there is always another reason why bitcoin could lose more than 50% of its ATH price. See how Chinese FUD could affect the market last year and see how Russian FUD could affect the market this year. It's always good to remain optimistic that bitcoin won't reach support levels lower than $30K this year, but we must have an exit strategy at the right time when the market is not profitable.

In the future we don't really know what the trigger factors are to see the market going bullish again. If previously Elon Musk made market hype increase and at the same time institutional investors also came in to invest then what will affect the market to be bullish this year?

FanEagle

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Quote from: bitgolden on January 28, 2022, 06:46:56 AM

Quote from: bekti3 on January 27, 2022, 03:52:11 PM

but if you look the other way and the worst is of course $20k can still happen because indeed if you look at the last few years especially 2018 they fell quite a lot and this could happen to such a decline. Even though we have to be optimistic that they will return, we still have to pay close attention to the worst possibility too

Even during that period the drop wasn't that steep right away. The real drop in 2018 happened during early period, from December to before summer, price dropped from 20k to around 6-7k prices, and that was it.

When we reached under 4k was during October or November of 2018 if I am not wrong and that happened because BCH and BSV had a fight, Craig Wright wanted to take over BCH and that is why he sold thousands of bitcoins all at once to buy for miners and he still lost but that dropped the price. Now we do not have anything like that, which means that we are not doing that badly, the initial 20k to 6-7k type of drop already happened, and I am not expecting it to go to all the way down to 20k.

This is something people do not even care about anymore. If people could have realized that the drop was because of a feud between few bitcoin rich people, then they would know that they would not see something like that again (probably). Because at the end of the day, we are talking about something that is dangerously rare and yet people act accordingly.

Everyone calculates the drop from 20k to 3k but the reality is that the drop was from 20k to 6-7k level like you said, and it even looked like it was about to go parabolic because all the charts showed it and yet because of one idiot rich person it dropped down even more and it took us a year or so before it recovered.

Tellek Garing

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Quote from: Zilon on January 25, 2022, 05:24:21 PM

You have a strong support zone on your chat and a reversal candle got formed after retesting the same zone twice but could that be a strong confirmation that the market wouldn't fall further. The answer is to wait to see where the next candle will point towards still bear in mind we are in the bear season and so even if the candle could go up it would only consolidate and if the selling pressure gets high enough it would fall further

At this point Bitcoin is relying on the 37k benchmark which happens to be the present resistance level for the market, at the moment is going to take a strong pull up to break the price into the next bull level which will be somewhere around 42k and above.
Am sure in the coming day Bitcoin is going to make a drastic change in its price.

Topic: Is $34k the bottom?? (Read 612 times)