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Topic: BITCOIN AT 63K. What should we expect moving forward? - page 2. (Read 433 times)

legendary
Activity: 3052
Merit: 1281
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Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.
Don't just go with the market or you'll lose all your assets. It's true that BTC has given so much profits into the previous bull run but it not the case always. You have to look into this real world that everyone one here is to make the profits so it will not be you always who'll make profits.

Just be careful while investing into the crypto world as the big investors can manipulate the market everytime they want to make them good profits.
How?

Can you tell me how this person will lose all his assets because he go with the market? He is in Bitcoin, he will never lose anything until he decides to sell for a loss, some people bought the top in 2021 and they are still here today, holding, it is Bitcoin and it doesn't matter, Bitcoin will always be here to stay.


True that he will never lose all his assets even if he sells at a loss, just for instance, he bought at $70k  and sell at $56k  when the price dip in fear of losing more, he still did not lose all assets, more or less he lost around 20% of his capital.  The only scenario where a Bitcoin holder lost all his asset value is when Bitcoin becomes worthless and that is unlikely to happen at the current state of the market.


OP all I can tell you is to have patience, everyone keeps saying things will be different this time but so far Bitcoin is doing the same thing it did in the last cycles, all you want is some good gains just like me, it will take time, for now do not believe what the news is saying, in fact stop reading them, just wait for a new ATH and take profit.

It won't hurt to know the news, in fact it is suggested to be updated on whatever investment we had.  We just need to have a deep knowledge of our investment and have faith in our decision of buying and holding BTC.  After all, the Bitcoin market even though is unpredictable, always rebounds and even records a new high every 4 years, in fact, it recorded a new ATH even before the halving event happened. 


If we look at the history of the Bitoin market, it tends to transition into a bull run trend some months after the halving since it is one of the catalysts of the market to transition into a bull market.  So I think we can expect a gradual recovery of price and eventually a bull run that may record new ATH, lets just wait and see it happen.
member
Activity: 462
Merit: 13
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Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.
As far as I know the future of bitcoin is not easy to predict but we assume that the bull run is not over yet and bitcoin will perform better in the coming times. Bitcoin can make its new ATH again, we just have to wait patiently. Bitcoin has a good outlook on the market and if you do market research you will understand that no other currency is doing as well as bitcoin.
legendary
Activity: 3304
Merit: 1617
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Market seems to have shown real strength, after the dump to 56k it has rebounded to 64k already. This bull run is only just beginning, the market does not want to cascade downwards. Soon the effects of the halving will refoect in the price. I am feeling very bullish right now, exciting times.
sr. member
Activity: 1022
Merit: 363
Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Man there's no one can predict the potential price to reached by bitcoin. Its bit unexpected for bitcoin to reach recover as fast as that and that's really good sight to see since that mean there's more to go for bitcoin and maybe we can able to see some great price changes in upcoming months. Much better if you research and don't easily believe on other peoples opinion since they might be wrong on their speculation so we should not make those as a basis on what we should do in future.

But I'm expecting to see more from bitcoin since we maybe not done yet with bullish season. Also looking forward for bitcoin to reach another ATH since this could bring some good confidence for a lot of people that bearish season yet is not gonna happen yet.
sr. member
Activity: 588
Merit: 338
Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Actually, I knew the of Bitcoin price was not going to turn green immediately after the halving but I never knew it would take such a deep. So If anyone tells you that the retracement is over and we are heading to a new ATH, such a person is not being truthful, no one knows what's going to happen in the coming days. If the price retraces again you shouldn't panic, we are already in the post halving and the market will soon go bullish.
Most Bitcoin price observers were speculating a price dip after the halving, but they never expected this much dip, especially since Bitcoin started being bullish after the ETF approval, now we're seeing a new price of over $63k today, perhaps it's a sign that price has started to rally upwards or it could just slightly dump again. I just choose not to worry or panic about this temporary pump and dump, because I know that we're definitely going to enter bull run from now to a couple of months time, so I'll just use this opportunity to accumulate more, before the inevitable ATH that we don't know when it'll happen.
hero member
Activity: 1302
Merit: 508
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My serious reaction:



I mean, what? it's just $63K, Bitcoin was reach $73K and I didn't even sell any of my coins, so why I need to pay attention when the price is just $63K?

If you think Bitcoin price always increase then you're wrong, it could be a correction or dump again, no one knows. Short term rise isn't what I'm looking for, but I'm looking for huge spikes that will happen in the end of the year!

The interesting thing is that everyone claims they have never considered bitcoin as a get-rich-quick investment, but they always check the bitcoin price every day and every time there is a correction or slight increase, they start talking. People run everywhere to find reasons why prices fall and reasons why prices rise. It didn't stop there, when bitcoin started to increase in price, everyone was optimistic and set higher goals, but as soon as bitcoin corrected, the crowd began to panic and predicted that bitcoin would fall even deeper.

Bitcoin is a financial market and once it is a financial market, it will always fluctuate, if there is an increase, there will be a decrease. We cannot expect bitcoin to rise to $100K or $1M without any correction.
We are investing long-term in bitcoin but we are too sensitive to its short-term fluctuations, which is really not good for our investment.
hero member
Activity: 1624
Merit: 791
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If asked about the future of bitcoin, of course you want to increase, creating new ATH again continues to be profitable. But we never know the direction of bitcoin can only predict that in the future it will rise to $100K, you may be skeptical but for me it is optimistic because bitcoin can always repeat the same history which is the new ATH.

When? Time? The date and month never know even think this is even longer some argue at the end of the year yes that is their speculation about the future bitcoin.
Now bitcoin is only experiencing a longer correction that I think yes we only think no more than that, the future no one knows we only predict.
sr. member
Activity: 490
Merit: 397
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I don't know what a miner (with a SHA256 ASIC) switching to AI means Tongue
But it is normal to see some miners leave whenever the mining income goes down whether it is through halving where the block reward goes down or whether it is through a market crash (eg. price falling from $20k to $3k back in 2018) and their income goes down.
This process is not causing "oligopoly", there are still a lot of places around the world where the cost of mining is too low to become hard to mine even with price drops or reward cuts, etc. so mining remains spread and decentralized enough.
well it means they start doing Pump and dump on other coins.
So the cost isn't constant but calculated based on locations
Well I guess I shouldn't be expecting the cost of electricity to be same across all countries.
Flawed thought that the cost for mining a BTC is quite similar across the globe.
This was helpful
Then the cost fluctuates and could even get lower than the current cost if more miners leave the network and vice versa.
hero member
Activity: 1666
Merit: 513
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Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.
It is not possible to predict anything by looking at the market sentiment. Because the market movement can change at any time. But those who hold bitcoins have faith in bitcoins and depending on it they try to reach their goal. Bitcoin price reduce from $73k to $57k after new ATH. Some investors were quite disappointed by the price drop. But currently Bitcoin is back to previous levels. It is easy to understand that if there were no buyers, Bitcoin could have gone further down but instead it has gone up. I don't think it rising for temporarily. Since it has recovered quickly from the bottom position it will definitely be bullish. The positive attitude of investors forced  to the market to turn bullish.
legendary
Activity: 3472
Merit: 10611
We now have fewer sellers than buyers
I think I read some miners are switching into AI's since their returns can't mitigate their expenses.
We go closer to oligopoly as years go by.
I don't know what a miner (with a SHA256 ASIC) switching to AI means Tongue
But it is normal to see some miners leave whenever the mining income goes down whether it is through halving where the block reward goes down or whether it is through a market crash (eg. price falling from $20k to $3k back in 2018) and their income goes down.
This process is not causing "oligopoly", there are still a lot of places around the world where the cost of mining is too low to become hard to mine even with price drops or reward cuts, etc. so mining remains spread and decentralized enough.
hero member
Activity: 952
Merit: 662
My serious reaction:



I mean, what? it's just $63K, Bitcoin was reach $73K and I didn't even sell any of my coins, so why I need to pay attention when the price is just $63K?

If you think Bitcoin price always increase then you're wrong, it could be a correction or dump again, no one knows. Short term rise isn't what I'm looking for, but I'm looking for huge spikes that will happen in the end of the year!
newbie
Activity: 56
Merit: 0
Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.
Weekly still needs to be bought up more before we can say the retracment is over.
full member
Activity: 448
Merit: 130
After the Bitcoin halving we saw the Bitcoin price go down last week and saw it drop a bit below $57k. Over the past two days Bitcoin has started to rise again which I now see above $63k. The future of Bitcoin is very difficult to predict, although Bitcoin is currently trending upwards. If Bitcoin continues to slowly enter the bull market and can maintain the current price uptrend then I think Bitcoin will reach new highs very soon. If we think about the future and want to profit from Bitcoin then we must hold on to it while increasing our investment in Bitcoin.
legendary
Activity: 994
Merit: 1089
Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.
I think this is a speculation topic, so maybe you should move it there. Now back to the topic, there was no significant fall in the price of BTC, so we cannot talk about a dead cat bounce in this situation, this is just a correction in price after the halving, and to be fair a lot of bitcoiners were expecting it, though we could not have guessed exactly how much the price would fall.

The price has started showing signs of an uptrend and it is now above $60k again, if this correction phase is over which i think it is, then the price will continue to rise until we are above $70k, and if we break that resistance, then we are getting closer to ~ $100k.
sr. member
Activity: 2618
Merit: 439
If the price retraces again you shouldn't panic, we are already in the post halving and the market will soon go bullish.
If the price declines again, consider me the happiest man alive. I feel like I was not able to completely take advantage of the dip. I wishI could have accumulated more and I could have done that if I had more money so hopefully I get to save more money just right before the market goes on quite a recline once again. I will then use the opportunity to buy some more bitcoin.
sr. member
Activity: 658
Merit: 441
Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Actually, I knew the of Bitcoin price was not going to turn green immediately after the halving but I never knew it would take such a deep. So If anyone tells you that the retracement is over and we are heading to a new ATH, such a person is not being truthful, no one knows what's going to happen in the coming days. If the price retraces again you shouldn't panic, we are already in the post halving and the market will soon go bullish.
full member
Activity: 2520
Merit: 214
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Is the retracment over?
I think so but I also have a hunch that this might be the lowest price we see in awhile.
Quote
Will price create another ATH from here
Though I am fairly confident that it will take quite a bit of time for a new ath to be set, I believe bitcoin is heading towards that.
Quote
or is this a dead cat bounce?
Nope one of the indicators of a dead cat bounce is low trading volume which is not the case for bitcoin as we see. It was a temporary dip and those who were smart enough to take advantage of such time will surely reap some rewards in the coming months.
legendary
Activity: 3248
Merit: 1402
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Bitcoin is volatile, and it's been volatile since its creation. It's a by-product of being unregulated and subject only to the free market. There's no need to give too much thought to daily or weekly Bitcoin's fluctuations, as they don't mean anything and major trends are only visible in hindsight anyway. I'd say that any price above $60k is certainly a good price, and, zooming out the price chart, it looks like we're still very close to the peak and there's no reason to get worried. The price is just 15% below the ATH, which is uncommon.
sr. member
Activity: 1666
Merit: 426
I guess that the price drop was a trampoline of some sort for the price to go up even higher but I'm still too early to be talking about that though as it's still not that high, it's like the market has just recovered. To be honest though, in terms of expectations, probably lower it or expect the unexpected, being ready for all the things that might happen is the best thing to do, if the price drops again, be ready to buy more bitcoin than usual, if the price pumps then wait for it or take a little bit of profit to get something going with your life, but in all of the possible scenario in the bitcoin market, be it negative or positive, we shouldn't forget doing our DCA investment routine because that's the way the we grow our investments and that way also makes sure that we don't miss out no matter what happens and we risk too little when price dumps happen.
legendary
Activity: 2408
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Bitcoin is very unpredictable, so no one will be able to answer your question. Do your own research and make your own decisions instead of relying on other people's predictions because predictions are just predictions, there are no guarantees.

I can only tell you that the recent recovery can be attributed to the impact of the employment and unemployment index news released yesterday.
All predictions of a rate cut are becoming more positive as the unemployment index rises and that is why we see the entire financial market being positive since the news was released. But what will happen next no one knows, this may or may not be a trap.
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