Is $34k the bottom?? - page 4. | Bitcointalksearch.org

Taskford

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Quote from: btc_angela on January 25, 2022, 06:03:24 AM

Quote from: bakasabo on January 25, 2022, 03:11:05 AM

Quote from: uneng on January 24, 2022, 12:24:23 PM

Quote from: bakasabo on January 24, 2022, 04:01:16 AM

Quote from: TopT3ns on January 24, 2022, 03:40:54 AM

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

Take a look on February 1 - February 12 in 2020. Bitcoin price barely showed any major change. It even gained few hundreds. But in March there was a significant price drop. Same period in 2019 - again no significant price changes in Bitcoin. I dont count gains and looses of a hundred dollars as an influence from Chinese New Year. For me, Chinese New Year in crypto is a fairy tale to scare new people and be a reason to hide speculations. Moreover, why would Bitcoin be afraid from someone that has banned it?

I don't think that the Chinese New Year or any holiday for that matter has an effect on the price.
We all have heard about this in 2018 and then 2019 when people around are shouting that the price will go up after Chinese New Year because they are going back to invest again. But it was not the case because obviously, it was already a bear cycle. And that is what we are experiencing right now.

If majority of people believe that there's something will happen at that day then provably we can see a short term effect knowing the hype could build up if many people talk about something good on bitcoin especially if the person who talk about it is an influencial person who want to manipulate the peoples outlook towards current condition. But this is only have less chance knowing that bear market scare is more doninant these days.

btc_angela

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Quote from: bakasabo on January 25, 2022, 03:11:05 AM

Quote from: uneng on January 24, 2022, 12:24:23 PM

Quote from: bakasabo on January 24, 2022, 04:01:16 AM

Quote from: TopT3ns on January 24, 2022, 03:40:54 AM

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

Take a look on February 1 - February 12 in 2020. Bitcoin price barely showed any major change. It even gained few hundreds. But in March there was a significant price drop. Same period in 2019 - again no significant price changes in Bitcoin. I dont count gains and looses of a hundred dollars as an influence from Chinese New Year. For me, Chinese New Year in crypto is a fairy tale to scare new people and be a reason to hide speculations. Moreover, why would Bitcoin be afraid from someone that has banned it?

I don't think that the Chinese New Year or any holiday for that matter has an effect on the price.
We all have heard about this in 2018 and then 2019 when people around are shouting that the price will go up after Chinese New Year because they are going back to invest again. But it was not the case because obviously, it was already a bear cycle. And that is what we are experiencing right now.

bakasabo

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Quote from: uneng on January 24, 2022, 12:24:23 PM

Quote from: bakasabo on January 24, 2022, 04:01:16 AM

Quote from: TopT3ns on January 24, 2022, 03:40:54 AM

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

Take a look on February 1 - February 12 in 2020. Bitcoin price barely showed any major change. It even gained few hundreds. But in March there was a significant price drop. Same period in 2019 - again no significant price changes in Bitcoin. I dont count gains and looses of a hundred dollars as an influence from Chinese New Year. For me, Chinese New Year in crypto is a fairy tale to scare new people and be a reason to hide speculations. Moreover, why would Bitcoin be afraid from someone that has banned it?

peter0425

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Quote from: Tellek Garing on January 24, 2022, 02:30:43 PM

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

nice quotation , very admirable . but how could i even afford to buy when my blood is spreading the street and my power is losing closely Grin

Maybe i will buy more when my enemy's blood is pouring in the street Grin

Quote from: ?? on ??

This is also my though about the current recovery, I’m pretty sure bear market is not finish yet and the bottom is yet to seen. Most probably, $30k can be the bottom so if you bought at the price of $34k, taking profit now is fine since the price will still dump. Though its good to see the recovery today, but I don’t think its real.

well so far it is 33k in which recorded the lowest , but year who knows what will come in the next?

aruldaroy

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Quote from: STT on January 24, 2022, 06:54:26 AM

5m bars on a chart is like throwing dice against a wall. You can be right one minute and wrong the next, its a hard game to play because its so fast. BTC does move on much slower movements and its always surprising when we know its so fast in appearance. 4hr bars is the lowest possible confident time frame I refer to, if we print a price on 4hr then its more likely to stick.
Below 4hr bars is trading movements where we speculate and typically a trade would close out profits here not expect it to be a trend especially.

We are failing the 35k area it seems like and its failed that last attempt above 2 day moving average, volume is favoring the downside for now. Weds is FED news and we'll see if it can alter, maybe this point is a pivotal place to watch in that back and forth. US open in a couple hours 33.8k now

What you say is true that the current volume is decreasing but today there is a price change from yesterday because today bitcoin was at $36k and yesterday $35k.
I think the current standard for bitcoin prices is somewhere between $35k and $36k.

sheenshane

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Quote from: Oasisman on January 24, 2022, 04:25:08 PM

Quote from: Tellek Garing on January 24, 2022, 02:30:43 PM

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

I doubt, what we are seeing is a temporary recovery as a result of people who avail and buy at what is believed as the bottom of this dip at $34,000.
Short traders will surely benefit for the short pump.
However, I'm not so confident for Btc to bounce back up to $40,000. I personally seeing Bitcoin fall below $30,000 which is another good opportunity for the small investors to buy more fractions of Btc just like you.

I disagree with your personally opinion about Bitcoin will drop further $30k, I saw the slow recovery and I think it has a strong support to recover again.
Recentlty I heard several news of country accept Bitcoin and there's a country that are investing 1% on their overall fund. So there's a possible that this recent drop was heavily manipulated with someone else it could be consider a whale too or the effect of FUD was keep spreading until now small scale investors are keep panic selling.

But now, the market it seems showing a recovery and possible the button price could be at $34k.

Oasisman

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Quote from: Tellek Garing on January 24, 2022, 02:30:43 PM

I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

I doubt, what we are seeing is a temporary recovery as a result of people who avail and buy at what is believed as the bottom of this dip at $34,000.
Short traders will surely benefit for the short pump.
However, I'm not so confident for Btc to bounce back up to $40,000. I personally seeing Bitcoin fall below $30,000 which is another good opportunity for the small investors to buy more fractions of Btc just like you.

Tellek Garing

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I have always worked with my method and always buy the dip even if the portfolio is declining because that is the best time to buy, I will buy more if Bitcoin ever slides low to 30k as I have bought some at 33k already.
But at the moment the market is on a recovery level and now pricing a little above 36k.

qwertyup23

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Quote from: Tmdz on January 23, 2022, 03:22:54 AM

We have not hit daily rsi levels this low in a very long time, only a few times in bitcoins history do they go below 20 rsi.
Even then there still is no point in calling the bottom, but we should be close.

If we can build a recovery from this point then things could start to look a bit better.

I think $30,000 is the benchmark on how BTC price can really go low. It's price may soon recover around the $40,000-$50,000 in the coming weeks/months. Though I do not fully understand on how candle charts go (RSIs, etc.), one thing that lets me see the light at the end of the tunnel is the opportunity to acquire more and HODL it for long-term. Basically, this price is a dream for long-term HODLer investors as this is the ATL price of BTC since January of 2021 (~$36,000).

If we were to follow that trend, I do speculate that its price may recover around $50,000 soon. No need to panic as these things happen due to its insane volatility and inflation.

uneng

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Quote from: bakasabo on January 24, 2022, 04:01:16 AM

Quote from: TopT3ns on January 24, 2022, 03:40:54 AM

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

Last year was an exception if compared to the three previous years. Anyway, it's just a theory and there isn't a way to make sure if chinese new year heavily impacts bitcoin price or if it's just speculation from whales in general, as you said. The fact right now is that with or without chinese new year there is a clear pessimistic tendency in crypto market and the main responsible for that is USA and not China.
China sacrificed its influence on crypto universe on the moment they completely banned it and hunted crypto businesses down on their territory. Glad these companies fastly migrated to another countries and settled their operations again without much prejudice to the market.

bekti3

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Quote from: Shasha80 on January 23, 2022, 05:45:58 PM

Quote from: bekti3 on January 23, 2022, 02:59:10 PM

Quote from: TravelMug on January 23, 2022, 04:45:37 AM

$34k is like 50% of the last all-time-high, it's already a huge drop, however, if we compare it to the prevent bull runs and the subsequent downfall, it is about 80%.

So I will say that this is not the absolute bottom yet, maybe we can see another massive drop in the next coming months. But don't take things negatively, just continue to buy at this dip and accumulate BTC and then just HODL for long term.

yep, I agree with what you're saying maybe it hasn't reached that point yet and there's still a pretty high chance of looking to that point although I don't know when but I'm pretty sure the low point will be more than this.
on the other hand talking about hodl actually this is the current obligation.
other than that don't forget that bitcoin is an asset for the long term not for a week or two because it's not very effective.

Although there is still a possibility that the Bitcoin price will drop even lower, but we don't need to worry, because as we all know Bitcoin is
the best asset. So don't hesitate to buy Bitcoin if we have money, because of how deep the price of Bitcoin fell, Bitcoin proved several times
it could always go up again. So for me, who has been in the crypto world for a long time, I am getting used to the current bearish trend.
I don't care how far the Bitcoin price will drop, the most important thing is that I will try to collect as much Bitcoin as possible. Because when
the price of Bitcoin goes up in price, I can enjoy quite a large profit. I agree with you, that Bitcoin is more effective for long term investment,
so it does require patience to be able to generate profits from Bitcoin.

When people who have tended to be in things like this for a long time actually I don't think there is even the slightest doubt they are there, but this is different from beginners and those who are still joining the Fomo. maybe they're feeling cramped right now Cheesy

Even last year we were able to get through something like this with 2 times New ATH, why should we always worry about corrections like this.
the crypto cycle is like this, so like it or not, we have to get used to it when we are fully prepared to want to invest here

leea-1334

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Quote from: GreatArkansas on January 23, 2022, 07:20:40 PM

I rather zoom out to the chart and use higher time frames to really check the bottom.
Basing previous prices is good to spot the bottom, using other levels as support.

So for me, very high chance that we will test the $30,000. As it is acting psycholigical support for everyone. Very high possibility that that could be the bottom or huge candle wick on $28,000 - $29,000.

Yes,,, pulling even to weekly and monthly seems to suggest we are for sure going to go to 30k and test it a few more times, before again asking ourselves if we go further down or recover to 40k.

But I wonder if instead of 30k test we just break directly to your bottom of 28k,,, since this is almost to me what happened this week without 40k test it just left from 43 to 38 in one big crash.

Pamadar

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Quote from: btc_angela on January 24, 2022, 06:15:53 AM

^^ Yes, I just checked the price today and it seems to be just above $33k now, indicating that the price is continuing to go down as we speak.

So OP's question has been answered in just matter of days, and chances are the price might go down again to lows $30k and that is a big scary because it is a huge drop from the last all time high of $69k. But we cannot stop it but just accept the fact that we are in the bear market already.

Tough call now for those holders who trust the market, the sentiment right now will shake a lot of investors.

Yes, the answer was clear, the bottom still unsure of the chance of seeing much lesser value is possible to take place, you
have to prepare yourself planning what adjustment to be done.

Keep in mind that swaying market may bounce up or fall for more..

Amph

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27k is, most likely like the last dump after we reached 50k

STT

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5m bars on a chart is like throwing dice against a wall. You can be right one minute and wrong the next, its a hard game to play because its so fast. BTC does move on much slower movements and its always surprising when we know its so fast in appearance. 4hr bars is the lowest possible confident time frame I refer to, if we print a price on 4hr then its more likely to stick.
Below 4hr bars is trading movements where we speculate and typically a trade would close out profits here not expect it to be a trend especially.

We are failing the 35k area it seems like and its failed that last attempt above 2 day moving average, volume is favoring the downside for now. Weds is FED news and we'll see if it can alter, maybe this point is a pivotal place to watch in that back and forth. US open in a couple hours 33.8k now

laredo7mm

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Quote from: bitterguy28 on January 24, 2022, 02:22:40 AM

Quote from: laredo7mm on January 23, 2022, 10:59:22 AM

Quote from: bitterguy28 on January 23, 2022, 02:15:27 AM

but 34k to be the bottom? I don't think so mate because the way market is telling us now ? there are even lower price to come for this situation and i hate to see this coming .

I have also seen this same scenario in 2018. When the market crashed many youtube said now this is the bottom you will never going to get this price to buy bitcoin again. They keep saying it every time bitcoin takes a dip. Maybe this time the same thing going to happen again. If we failed to create support above 30k then I do not know where this bleeding will end.

But i know one thing and that is in crypto opportunity will come again and again so the only patience soul will have the honey at the end.

That's why we must not be Blinded of the Idea that the bottom are already here because this is very tricky , we have seen many same cases happened in the past that manipulators are just trying to lure more investors by faking that the market is already recovering but the truth is the dump is continuously and they are just seeking for more riders before they finally dumped this market.
hope that this will not happen to many of us and we will learn from the mistakes we committed in the past.
just buy what you can afford to hold long .

In the 2018 dump, the market went down 60% from ATH. If something like this happens again, we can go back to the range of 20k. At present, it is better not to trade Bitcoin in the market, Alt Coin is not at all.

Most of the time we have no education from previous experience. Whenever the market goes up a bit, our demand goes up a lot. Many have warned of a possible bitcoin dump, but most portfolios are already down 50% to 60%. I don't know what will happen to the portfolio of those altcoin holders if bitcoin really touches the 20k mark.

btc_angela

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^^ Yes, I just checked the price today and it seems to be just above $33k now, indicating that the price is continuing to go down as we speak.

So OP's question has been answered in just matter of days, and chances are the price might go down again to lows $30k and that is a big scary because it is a huge drop from the last all time high of $69k. But we cannot stop it but just accept the fact that we are in the bear market already.

kotajikikox

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Quote from: sayulita on January 23, 2022, 12:43:25 AM

The price was going nuts and now seems to have stopped falling for now and also slowly rising up for a little while as well. What are your thoughts, is it going to fall more or would it start to rise again and recover all the money that was lost.
And what if this rise in price is just temporary and the price would again reach $34k and breach that support as well, what would happen then, what is the next support to look out for in case the market bleeds more in the coming days.

This day marked the Lowest is 33k , meaning it dropped more from your question here as the price is currently going down to 32k

https://coinmarketcap.com/currencies/bitcoin/

this is a bad indication about the incoming bear , maybe we will be seeing a 20k level in the next coming weeks? or in this 1st quarter as we witnessed this fall so there are more to come , be ready and be strong HODLERS this is our time to shine now, Buy more .

bakasabo

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Quote from: TopT3ns on January 24, 2022, 03:40:54 AM

Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Do you think Chinese New Year will really influence on Bitcoin price? Why would China influence on Bitcoin, since they have banned it? If the price starts to drop, that it is obvious speculation and holders should not worry about it much. Everything about China and cryptocurrency I dont take serious anymore. Check out Bitcoin prices last year during Chinese New Year. It rose from $33k to $48k. So it last year Chinese New Year helped Bitcoin.

TopT3ns

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Not sure will bitcoin reach above higher price because 8 days later have Chinse new year and actually almost each Chinese new year bitcoin crash, we know how many investor from China and they try to sell assets to celebrate their new year. I think after one week or middle week on February will have light for Bitcoin and altcoin price pump, not really hope trough two week later will bitcoin raise higher price because Chinese new year never give chance for bitcoin and altcoin back to higher price, stuck above $36,000 is higher price for bitcoin and hope not drop under $30,000.

Topic: Is $34k the bottom?? - page 4. (Read 675 times)