Month of May. Bitcoin price guess - page 3.

peter0425

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Quote from: rby on May 04, 2023, 04:51:16 PM

Quote from: peter0425 on May 03, 2023, 08:30:23 PM

from what we can see in the graph that bitcoin staying in strong position at least in 27k and that must be celebrated considering that from January to march we have seen an continues fall.

I really have eyes in what is happening at the $27k area of the chart. What seems like consolidation towards a pull or bull is being misinterpreted as a support. Could it be a force support? Let us believe it's real because bitcoin is still climbing and this may continue steadily till we enter the bull market.

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Binance chart seems accurate and believable , seeing the green working against red ,
this simply imply that there are positive views in the coming days of May .

I think the charts are same, or is there any thing special about Binance chart that makes it accurate and believable than other charts?
So far, the market has been fair since April and this May will not be a different situation.

nah , What I mean that the chart moving is accurate this month and that is upside but of course will not believe completely till it happens bring me great return.
but like what most thread says?
this year is something that will be the start of the great increase because 2024 halving is coming and we all knew that when it happens? things are favoring bitcoin users followed by altcoins.

South Park

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Quote from: Oasisman on May 07, 2023, 09:14:29 PM

Quote from: DeathAngel on May 07, 2023, 02:31:27 PM

My guess for the highest price in May is something like $33,000. I think the price is holding up well in reaction to a bunch of banks going bust in the US. Maybe this means the chance for further downside is limited. So yes, my estimate is that we will see a new yearly high of $33,000 in May.

Though I believe that kind of range is achievable this month, however it seems like we opened the month of May in a bad way. If you all have noticed the Bitcoin transaction fee increased and I think it's over $15 per transaction now for high priority, otherwise your Btc will get stuck for several days. Mempool is clogged up and Binance have to halt Btc withdrawals for hours. For me, this isn't a good impression for the people who might have just entered the market and even those who's been here for some time, they might have a second thought about Bitcoin going forward.
My thought is that, Btc might pull back a little bit maybe around $25k and when mempool is cleared up it might rise again between $28k-$30k. Nevertheless, everyone must be prepared for the worst lol.

Since mid April the price has been ranging between 27k and 30k, so the current price is close to the average between those two levels, so I am not seeing the opening of the month of May as being that negative, but at the same time it does not seem as if there is enough strength for the market to keep going up, and if that is the case then I would not be surprised if the 27k support level was eventually broken and we reached 25k, and while some investors will get nervous over such drop, I am sure there are many other investors which will be happy to be able to buy bitcoin for such a low price once again.

rodskee

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Quote from: justdimin on May 02, 2023, 09:55:24 AM

Quote from: rodskee on May 01, 2023, 04:31:09 AM

Well this is big comparing to what is the price and movement now.
it drops again to 28k and yes continues to fall.
if I will look and believe that 38-40k , then we are having a correction now?

Having that type of increase is not unlikely, I mean we have seen about 30% increase before in a month and it could be once again this month too. However, we are not going to see something that huge if you ask me, is it possible? Sure it is possible but I feel like that won't be the case. I think more like 34-35k range is more likely because that is around 10-20% range of increase for a month and that is a lot more likely and will be the result.

of course possibilities are there, as in crypto there is no impossible to happen but remember that we must have basis for not having a failure
and over expectation and yes we have seen that increase happened before but there are more decrease than increasing if we will look deeper .

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Having a 10-20% increase is nothing short of great. I hope that it will get better and we should be considering that type of profit once again, I am not sure if that will happen quickly though, not the first week of may right away, I think it will take a while like maybe third week of the month before we see those prices.

lets be realistic , that 2023 isn't the year for that as we can expect something good like this to happen but not that soonest .
maybe next year? why not right as halving is taking place?

Oasisman

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Quote from: DeathAngel on May 07, 2023, 02:31:27 PM

My guess for the highest price in May is something like $33,000. I think the price is holding up well in reaction to a bunch of banks going bust in the US. Maybe this means the chance for further downside is limited. So yes, my estimate is that we will see a new yearly high of $33,000 in May.

Though I believe that kind of range is achievable this month, however it seems like we opened the month of May in a bad way. If you all have noticed the Bitcoin transaction fee increased and I think it's over $15 per transaction now for high priority, otherwise your Btc will get stuck for several days. Mempool is clogged up and Binance have to halt Btc withdrawals for hours. For me, this isn't a good impression for the people who might have just entered the market and even those who's been here for some time, they might have a second thought about Bitcoin going forward.
My thought is that, Btc might pull back a little bit maybe around $25k and when mempool is cleared up it might rise again between $28k-$30k. Nevertheless, everyone must be prepared for the worst lol.

DeathAngel

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My guess for the highest price in May is something like $33,000. I think the price is holding up well in reaction to a bunch of banks going bust in the US. Maybe this means the chance for further downside is limited. So yes, my estimate is that we will see a new yearly high of $33,000 in May.

TheGreatPython

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Quote from: Wong Gendheng on May 06, 2023, 04:00:08 AM

If you look at the movement of the last 30 days, I think in May it will be the same as before, the current price is around $ 29k, and in my opinion the highest price range will not be more than $ 30k, but this is a good motivation for us to continue to buy before the expensive price and We can't buy anymore.

Well, I somewhat agree with you about the price not going to go much above $30k this month. $30k has become the new resistance and as we've been watching, it has been having a hard time crossing that range pretty easily, and even if it does, it doesn't get to stay there for long and can't keep its value strongly so that it stays there.

I believe the price will go further down from this point, maybe around $25k or even a little bit below that, and it will take some time to recover from that range due to the increased selling pressure from panic sellers.

Jating

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Quote from: BobK71 on May 07, 2023, 01:10:24 AM

Quote from: Semar Mesem on May 06, 2023, 10:30:58 AM

I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

As volatility is high, it doesn't take much time for market conditions to change. The market may not be what it looked like in March. But not too much downside. Going up and down between $29-30$k. If there is any positive news, the market will continue to be bullish rapidly. The first week of March is over but may be we can expect upward from next week. Investors have to wait patiently for this. Bitcoin holders often have long-term plans ‍due to which the market is gradually strengthening and will head towards its destination. But since you don't know when will happen the bullish moment. That is why it is better to prepare one self before the bull market comes up.

It short it's going to be sideways, it was about to break $30k, as I see the price hitting $29,500. But then again, in the next 24 hours, it goes down again to the $28k price range, but if you look at the price right now, $29,020.

So yeah, doesn't make sense to sell right now, because of the volatility and even if you think that you have profited already, it's better to wait and we all know that long term is the game here. For sure, majority of us have experience the last bull run and bear market and we know what to do by now. So even if May is going to be a bad month, or if the price goes down again, it's better to take advantage by continuing to accumulate.

GeorgeJohn

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Quote from: Semar Mesem on May 06, 2023, 10:30:58 AM

I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

Actually know one knows the next step of the market, because in the normal circumstances the market is basically rely on the hands of investors, sometimes people will come with their ideology and assumptions that bitcoin price will rise at this particular point in time without any proof, so speculations has taken it ground over cryptocurrency investment, probably we don't know the condition of bitcoin in May, it might increase or neither falls, nobody knows, whatsoever we do analyze for monthly increment of bitcoin it depends on our observation and studying the interpretation of chart, and which when two or four persons study chart of crypto Market in different domination, they will definitely come with a different results, so therefore it's your understanding on cryptocurrencies will determination your predictions, so bitcoin accelerating in price this month is base on the gravity and the demands in the Marketcap.

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Quote from: Semar Mesem on May 06, 2023, 10:30:58 AM

I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

As volatility is high, it doesn't take much time for market conditions to change. The market may not be what it looked like in March. But not too much downside. Going up and down between $29-30$k. If there is any positive news, the market will continue to be bullish rapidly. The first week of March is over but may be we can expect upward from next week. Investors have to wait patiently for this. Bitcoin holders often have long-term plans ‍due to which the market is gradually strengthening and will head towards its destination. But since you don't know when will happen the bullish moment. That is why it is better to prepare one self before the bull market comes up.

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Quote from: Semar Mesem on May 06, 2023, 10:30:58 AM

I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

That's right bitcoin will rebound if not by May, although it's hard to predict the future of bitcoin with certainty, perhaps as technology and the financial system change, the use of cryptocurrencies will continue to grow and flourish. One of the key advantages of bitcoin is that it facilitates fast and easy international transactions, low transaction fees and does not require an intermediary such as a bank.

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Quote from: lionheart78 on May 06, 2023, 05:37:59 PM

Quote from: Semar Mesem on May 06, 2023, 10:30:58 AM

I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

Well, there is not much news that can affect the market except for the recent congestion of the network and the current transaction fee surge. I think this will affect the performance of Bitcoin, even though the market sentiment is leaning more toward being bullish. The high transaction fee and heavy congestion of the Bitcoin network may discourage many new investors to hope into the Bitcoin economy but I do not think that it is enough to crash the Bitcoin market. The best it can do is probably make the trend sideway canceling out the bullish sentiment of the market.

But obviously the market will change if there is a very strong catalyst that will move the market, but as long as this catalyst don't appear, I believe the Bitcoin market price will be hovering in the range of $28k - $30 this month.

As far as I know, the cause of the network congestion was people massively joined BRC20, causing the bitcoin network to be congested for several days. This is nothing to worry about as the BRC20 trend calms down.

Regarding the bitcoin prediction for May, I also agree with some of the comments that bitcoin will swing around the 28-30k zone. It looks like this will disappoint a lot of people as most people expect bitcoin to break $30k and hit $35k. But for me, it's a good thing because there is more time to accumulate bitcoins, buying bitcoins at increasingly higher prices makes me a bit apprehensive.

Franctoshi

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I'm closely keeping tabs on this trend line ($27k -$28k) as it has acted as a strong resistance in the past and now acting as a support , I do think this has been the major reason why Bitcoin has failed to break below $27k having come several times to tap in that zone. Taking a closely look at it, that trend line has a major event, FTX dump and the previous low before we hit $15k the last dumb, it a very strong trend line holding up Bitcoin right now which is not gonna be easy for the bears to strike pass below.

Baoo

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To be honest, in beginning of this year we have seen a strong bull run, the price went from $17K in January to $28K in April. In conclusion, the value was progressing significantly until April. Unfortunately, it was awful month for BTC, the price did not increase with a high value. From my perspective, the stability in market will continue during this month and it is too difficult to see a strong pump neither a dump. However, we should predict the unpredictable, the price might hit $35K and $40K in the near future probably within 2-3 months. In fact, only whales have an accurate predictions of Bitcoin. The whole market is sadly controlled by them due they are able to influence to price by moving their funds.

lionheart78

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Quote from: Semar Mesem on May 06, 2023, 10:30:58 AM

I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

Well, there is not much news that can affect the market except for the recent congestion of the network and the current transaction fee surge. I think this will affect the performance of Bitcoin, even though the market sentiment is leaning more toward being bullish. The high transaction fee and heavy congestion of the Bitcoin network may discourage many new investors to hope into the Bitcoin economy but I do not think that it is enough to crash the Bitcoin market. The best it can do is probably make the trend sideway canceling out the bullish sentiment of the market.

But obviously the market will change if there is a very strong catalyst that will move the market, but as long as this catalyst don't appear, I believe the Bitcoin market price will be hovering in the range of $28k - $30 this month.

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Quote from: justdimin on May 06, 2023, 04:51:54 AM

Quote from: lixer on May 03, 2023, 10:48:03 AM

The month didn't start very well with Bitcoin price falling from $29k to $27k within two days and is still dropping in value by this time, this clearly shows that the correction is still stagnant and we can see lower prices this month. I was thinking that the least we might see will be $25k but from the look of the price right now, I think that's not going to be the case.

If it continues like this, the price will touch $20k in May and may rise back to $30k within the same month if there are huge buybacks and buying pressure when it touches lower areas, there will also be a lot of panic selling for sure.

It is above 29k right now, it was about 29k give or take, just a few hundred dollars drop is nothing, even 1k drop is nothing in crypto, that is a tiny amount. Price could change so much drastically and shouldn't really be something you should feel worried about. Just know that this is not going to make you rich suddenly, and not going to make you poor suddenly neither, it is just doing stagnant regular movements and that is the normal version of the market.

Sometimes there are volatile periods when it goes up a lot and during those days you could see bitcoin move 10% higher or 10% lower and that would be understandable, there is nothing that could change at the moment and it will continue to be a lot worse than that, its going to be a terrible period.

You need to assess very well to avoid making a mistake in placing your position,

I get the point where the market is getting volatile, which is common if you look back. The indication that the market will either will
pump or dump depends on the emotions of most traders around.

If you see a good amount of investors who are willing to buy and hold, believing that there's something good that will push the market
to rise up, then the direction will be on the bull side, but once there's a bad news or something that can bring fears, then expect that
the market will collapse.

CageMabok

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Quote from: Lubang Bawah on May 05, 2023, 08:53:27 AM

May is an important month whether this year the market will rise or dip. If May rises and can pass the highest price last month, which is around $ 30k, then we have hope to see new ATH again, but if May is still below $ 30k so it's hard to see the market rising this year.

Why do you say like that? So far, I still don't believe in a market forecaster who basically can always change by itself and not even as predicted by many people. And in this case why are you so sure that if in May it doesn't increase above $30K, then it will be difficult for Bitcoin to increase again this year? Because for me it still doesn't make sense and doesn't make sense because the increase in Bitcoin doesn't depend on any month, other than on the level of demand and supply.

Quote from: ilovealtcoins on May 05, 2023, 08:38:38 PM

Why is May an important month? What are you talking about? All the months are the same. We're very close to $30k and it shouldn't be too hard to get over it. But there is no proof that if bitcoin breaks through $30k, there will be a bull season or a new ATH. Even if it is $50k, bitcoin has a chance to fall back, bitcoin is unpredictable.

I also don't know why he said that, even though he himself knows that Bitcoin is very difficult to predict and its increase will not depend on the month, but on the level of demand and supply. I agree more with what you say because basically it's not easy to say about bullish when Bitcoin starts to pass a certain price level in the near future. Especially if it is often colored by small corrections which are always an obstacle for Bitcoin to last long at high prices.

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Quote from: asrinur on May 06, 2023, 08:49:04 AM

It is very difficult to predict with certainty what the highest Bitcoin price will be in May because bitcoin price movements are very complex and are influenced by many factors such as adoption, market demand, and regulatory issues. However, if you look at the historical trend of Bitcoin prices and patterns of price movements in the market, there is a possibility that the bitcoin price will reach $40k. However, it is important to remember that the cryptocurrency market is extremely volatile and highly susceptible to sharp price fluctuations. Therefore, every investment decision must be based on careful research, sound market analysis, and take wise steps to minimize risk.

If you are a long-term investor, you do not need to analyze and care too much about short-term prices, making predictions is only for short-term and medium-term speculators. I as always, will not predict nor care much about the price of bitcoin, I only care about the beginning of the month will have a salary, and will use a part to buy more bitcoins for the 2025 plan. But I would be happier if bitcoin fell again than if it rose too quickly because my accumulation will be more difficult as the price increases.

Semar Mesem

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I don't think there will be any surprises in May, maybe the price will be in the current range for a long time, namely $ 27k to $ 30k, of course we hope that there will be a big surprise like last March so the market will recover soon.

asrinur

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It is very difficult to predict with certainty what the highest Bitcoin price will be in May because bitcoin price movements are very complex and are influenced by many factors such as adoption, market demand, and regulatory issues. However, if you look at the historical trend of Bitcoin prices and patterns of price movements in the market, there is a possibility that the bitcoin price will reach $40k. However, it is important to remember that the cryptocurrency market is extremely volatile and highly susceptible to sharp price fluctuations. Therefore, every investment decision must be based on careful research, sound market analysis, and take wise steps to minimize risk.

Paul Pogba

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The important thing that can make the price go up or explode again is this week it can reach $ 30k, if the price of $ 30k doesn't happen soon it is possible that the price range that will occur is like April, of course we hope that there will be no more big cases like FTX so that it creates big panic in the market, i think in may the price range is $26k to $32k.

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