Is bitcoin steering towards $40k once again?

wxa7115

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Quote from: Wysi on January 25, 2021, 02:20:32 PM

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

I am extremely bullish on bitcoin for this year, what we are seeing is just the beginning and it is natural that we are seeing a slow down in the increase in the price, just give it time and I am sure soon enough bitcoin will try once again to challenge its previous ATH.

What happens is that there is no limit for our greed, there were two weeks in which bitcoin made an ATH almost every day and we got used to it and now that bitcoin has slowed down we are disappointed but it is fine, that growth was unsustainable but the fact that the price of bitcoin is still above 30k should be a great sign for a new bull market.

stomachgrowls

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Quote from: STT on January 27, 2021, 10:25:37 AM

Hold your fire for latest trades just now and maybe it swings back up again but for this moment I see it as testing lows or running through a negative sentiment period of price action. Might be reasonable to take now as we a potential bottom price, its reversed on the 25th so was due to sell off after that event.

~

So something like 29k would be similar low to the last one and if that holds as a regular low it might be taken as strength and become a tradable low. It then has a fight at 33k to break further upwards in positive swing but its quite possible it achieves that target even before month end.

Just as those technical charts and analysis that we had read up a couple of weeks ago or on last week where supports are really on 29k 27k and 22k and 18k.It seems the price had able to test out to break out
that 29k support but it didnt really last that long but still not really that confident because price is just only 30,450 as of this writing but still there's some bounce back but the question is,
would it able to sustain this level or this is just an another preparation for breaking that $40k resistance?

Bitcoin market had been a bit quite last week until into this week.It didnt really give out some significant movement but actually if you can really able to deal with these minimal
movements then you can actually scalp into those and make some profits and thats what ive been doing since last week.

tabas

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Quote from: speedforce on January 27, 2021, 02:50:28 AM

I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins Grin

.

If you haven't noticed for the past years, when bitcoin dumps, altcoin follows. But if that's your strategy and you like it, good luck to you holding too much in altcoins.
You hold altcoins but you should hold bitcoin to make it better.

STT

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Hold your fire for latest trades just now and maybe it swings back up again but for this moment I see it as testing lows or running through a negative sentiment period of price action. Might be reasonable to take now as we a potential bottom price, its reversed on the 25th so was due to sell off after that event.

So something like 29k would be similar low to the last one and if that holds as a regular low it might be taken as strength and become a tradable low. It then has a fight at 33k to break further upwards in positive swing but its quite possible it achieves that target even before month end.

maydna

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Quote from: speedforce on January 27, 2021, 02:50:28 AM

I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins Grin

.

Be careful if you hold altcoins because there will be more pumps and dump happen in the market. You can prepare yourself to sell your altcoin when the price increases and just hold bitcoin. If you still want to use altcoin, I hope you can analyze it to find the coin, so you don't waste your time. These times, many altcoins can increase anytime, whether it follows bitcoin price or not. That is why it will be difficult to analyze and find the altcoins. But perhaps, bitcoin price will stable for some time as we don't see significant moves from bitcoin.

pooya87

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Quote from: speedforce on January 27, 2021, 02:50:28 AM

Im agree with this speculation, this would be time for altcoin showtime. I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins Grin

.

You will always lose money by bag holding altcoins, the only way to make money from altcoins is to trade them while they are getting pumped and dumped (by taking extra care to exit before the dump starts). Nowadays that bitcoin price is moderately stable the altcoins are already getting pumped, you are just missing these pumps because you are bag holding!

speedforce

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Quote from: kamadazje on January 26, 2021, 12:32:34 PM

Quote from: Wysi on January 25, 2021, 02:20:32 PM

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

Upon checking the whole picture, bitcoin dominance is getting lower compare to the past hype where it reach to $40k so there is a big possibility that bitcoin price will not move that big in the next 4-8 weeks not unless there is a hype that will likely to happen again.

Because as what I notice there are many investors that are shifting their assets to other currencies like Eth and etc. that is why the bitcoin dominance has decrease to 62% from 70% at the time when the bitcoin price reach to $40k price. But everything is possible and the market is very unpredictable, let's just continue to watch if what will be the next move for bitcoin price.

Im agree with this speculation, this would be time for altcoin showtime. I hope no big pump dump on bitcoin since it can be hurt alts more (Im alts hodler), just be sideways and stable bitcoins Grin

.

kamadazje

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Quote from: Wysi on January 25, 2021, 02:20:32 PM

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

Upon checking the whole picture, bitcoin dominance is getting lower compare to the past hype where it reach to $40k so there is a big possibility that bitcoin price will not move that big in the next 4-8 weeks not unless there is a hype that will likely to happen again.

Because as what I notice there are many investors that are shifting their assets to other currencies like Eth and etc. that is why the bitcoin dominance has decrease to 62% from 70% at the time when the bitcoin price reach to $40k price. But everything is possible and the market is very unpredictable, let's just continue to watch if what will be the next move for bitcoin price.

sarmrakib

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Quote from: Wysi on January 25, 2021, 02:20:32 PM

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

Its look like stable at the moment around 32k$ .However it was making a correction i think when it got a huge dump then starting to recover .So that it has recovered well and has a great chance to move up as we are still on the strong uptrend .I think we can see a new ATH level and hope it ca break 50k$ mark on the recent future .

judeafante

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Quote from: Astvile on January 25, 2021, 07:22:42 PM

Bitcoin still having a hard time passing through the $35k mark and from what I see is bitcoin is still in the consolidation phase after the big price dump from last week I think as long as bitcoin holds to the $30k mark we should be fine and should be seeing bitcoin reaching $40k again in a few weeks. Bitcoin support is still strong maybe the bulls haven't hit the final target yet.

I also believe that there is still strong buying support for Bitcoin and it will eventually land in the $40000, I doubt it's going to happen this month, the month of February and March could be the month, this is the time that vaccine will roll up and the economy will open up again, the whole 2021 will be the bull season.

AakZaki

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anything can happen, making a new ATH might happen later, but before that the bitcoin price seems to be undergoing a correction to reach a new ATH again. Many have speculated that bitcoin price will not just stop at $ 40k, it will likely exceed it. Bitcoin is being played and lots of FUDs for bitcoin correction first. The good news about bitcoin also supports it so bitcoin's power to reach new ATH songs can still happen.

mezzaluna

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Quote from: Wysi on January 25, 2021, 02:20:32 PM

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

From the looks of the current graph, its surely gearing towards another break at the $40K mark but we are not sure on when will it hit that barrier again. Its just great that the current value is not dropping into a trench-like situation because those kind of situations can dishearten some investors who only joined during this bull run.

kiki8899

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I really think so, for a long time, bitcoin still rise I believe

habo8

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no, currently it has resistance at the point of $31650 so if it breaks it, we can see a dump in bitcoin price. In few days, btc has touched this point very times so it can be bearish.

traderethereum

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Quote from: bluebit25 on January 25, 2021, 10:20:01 PM

Seeing that everyone is very optimistic about the current situation, so I expect it to return to ATH, but for now I still don't see any news big enough to make bitcoin go up quickly. I see bitcoin's recent rise in price possibly coming from a large institution that bought $ 180M bitcoin, which is what I see huge and what will come next.

Not yet. The big news is not yet coming now, and we need to wait for more.
After the bitcoin price starts a new rally in the last few hours ago, the price was back again to the lower price, and I think that can be another chance for us to buy low and sell high.
The last time the high price was reached at $34k. And now, the price is at $31k, so we see the price is down for about $3k.
But I am sure the price will be up again in the next few days, and all we can do is wait for more.
I hope the price will not go down below $30k and not trigger a panic selling from traders.

Reid

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IMO, the correction might be over.
31k is far from the last ATH which is 40k.
It could surge upwards again anytime soon. Yeah, that 4-8 weeks after now in my speculation could be playing around 35-40k.
I hope. Grin

We could be at the new bottom now which is not that bad especially to those who bought at an expensive price last 2017-2018.

btc78

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Quote from: Wysi on January 25, 2021, 02:20:32 PM

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

I'm not expecting anytime soon because i Knew that there are something will come towards our way but i don't wanna rush thing .

and also the investors that supports Bitcoin growth from Last year is still here , The whales that wanted to manipulate the market are only the one who get out to make shaking in the prices but they did not succeed.

Quote from: playyamy on January 26, 2021, 01:55:42 AM

I always think that Bitcoin will exceed 40w, especially this year, because of the good news of Bitcoin Bridge, the output will be halved this year

Any news Link ? what are those mentioned by you?

playyamy

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I always think that Bitcoin will exceed 40w, especially this year, because of the good news of Bitcoin Bridge, the output will be halved this year

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Quote from: maxreish on January 25, 2021, 08:04:50 PM

They are trying to break $20k resistance level but bulls are still strong and this may still lead back to $40k or perhaps more than 40k usd. The only question is when, we don't know that yet.

There are also fuds circulating about cryptocurrencies/news/bitcoin-price-prediction-btc-rally-back-to-40-000-in-jeopardy-as-grayscales-demand-diminishes-202101250557]Grayscale's bitcoin trust growth which may prevent bitcoin to finally surge up again to $40,000 but then again this won't take long and bitcoin will still go that new ATH as we see whales gonna move again their btc.

whales will become richer with BTC, which is for sure precious

Kakmakr

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Let's be honest here.... we know the consumer transition to Crypto currencies are not a quick process, due to the extra bit of complexity and also the FUD that are being spread by the competitors. Now imagine this... Pornhub did more than $100 000 000 in revenue last year with Fiat and now PayPal and Credit card companies pulled their support as a payment option for these sites.

So the existing customers have to transition from these payment methods to Bitcoin payment and I predict that once this is done.. you will see a further increase in the price. (Also remember if this becomes a trend with porn websites and services, it might explode)

We know people want more anonymity and Bitcoin provides that.... something that lacked with Credit card companies and PayPal. Wink

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