Topic: Prediction: Low was $34K or will be ~$25K - page 4. (Read 821 times)

I don't share this view. Bitcoin will probably not go down lower than $30,000 anymore. Even if what you're saying is true, Bitcoin's price will probably just maintain its flight $30,000 or above.

If everyone didn't buy at $34,000 because $30,000 was a better buy, then $30,000 will be a strong support. So if there is a strong demand in $30,000, why would this support be breaking and the price to fall down even more to $25,000? If there is indeed a certain level of greed in $30,000, it will become a platform for its bounce.

Hopefully, the drop will not be bigger than previously and only be down for a little. If the price drops deeper, people can lose control and will sell fast without thinking of buying back again. Maybe they will buy back after the price is stable at one range price but not for buying if the price is still going down. We are almost at the weekend but we still do not see the price having more support to lift the price to break the $40k so I guess this weekend, we can see another correction for a while. Prepare yourself for anything that can happen and hope you can buy at the dip.

Your point is correct, so I think the bottom is 34K$. Indeed, we have seen a bounce from that point almost or a little less, but in any case, Bitcoin rose a little, but this is not necessarily an indication of an upward trend. We may see a drop again for Bitcoin and it may be bigger than the first time. I think that the first week of February is important for Bitcoin, if it manages to break the 40K threshold, we may see a rise again to the 50K area, and the opposite of that is the drop is expected.

I think $25k will be a good buy option, its just a question on when we are going to hit that price.

If people are going to wait, then probably this price will not be touch in the next couple of months. If people are buying even at the current price, then definitely we will not hit ~$30k. So hard to see what will be the floor prize at least for this year. So( let's wait till April or at least the end of first quarter, lots of things could be in store for us, so better expect the unexpected.

The price of bitcoin is still experiencing a decline in price, which makes the movement erratic. From the price drop, it can be concluded that Bitcoin still doesn't have full control over the bull rally. Therefore it is possible that the price of bitcoin has the potential to drop to the $30k level but not to the $25k level.

If the plan is to enter the market for the long term then he can wait to see the market direction. I doubt $35k is a good pick if your base argument is based on the past market conditions after the rally. If that is the situation, the market will go well below $30k and for anyone looking to hold the coins for the long term, they can wait rather than jumping into a market which is looking for directions.

Supports are broken all the time, I am not saying this because I believe it will go under 30k, I agree with you that it will probably not go under 30k ever again, not now, not in the future, it will never go under that level ever again if you ask me. However, strong support is not the reason for it, I have been here for around 8-9 years now and I can tell you easily that I have seen plenty of strong supports broken and price going lower.

This doesn't mean that it will happen right away and right now but it is just a situation where it "could" potentially happen. This means that we need to find another reason for it to not go under. I personally believe that institutional investors wouldn't allow it to go down that much and lose billions, that was my reasoning.

~
The rest happens upon its own, and in such manner for long term holders buying at the price around $35k is really good pick. This seems to be the time for the technically skilled traders to make good profit, as there is large scale fluctuation happening often.

I'd wait for the $30k wall honestly before doing anything. If, and only if, we ever do go below $30k, the path downward wouldn't be that fast imo, it'd still take some time for the market to go below even if it is going to go below $20k. Honestly, I even doubt if it was going to go below that level, I reckon we can experience people buying in at $25k levels already, which could quickly pump up the price. As for it going below $10k, I hardly doubt that. It might take forever for it to recover if the market ever goes below that level.

I don't share this view. Bitcoin will probably not go down lower than $30,000 anymore. Even if what you're saying is true, Bitcoin's price will probably just maintain its flight $30,000 or above.

If everyone didn't buy at $34,000 because $30,000 was a better buy, then $30,000 will be a strong support. So if there is a strong demand in $30,000, why would this support be breaking and the price to fall down even more to $25,000? If there is indeed a certain level of greed in $30,000, it will become a platform for its bounce.

Makes sense for me. Even I am guilty of thinking that a $4.30 piece of meat is a better buy than a $4.99 one, albeit the latter showing more quality and freshness compared to the former. People like to skimp on things thinking that they'll get better value when they paid less, but that's not always the case. Oftentimes, this mindset makes people miss buying opportunities, and regret not buying when the opportunity presented itself.

I think we've already seen the bottom at $32.9k.
On-chain metrics say we're heading into a bull run. Only reason price has been going down since November is people freaking out about thinking there will be a bear market and China getting out of the market and people freaking out about external economic things.

The short termers are selling while the long termers have been massively accumulating. I think the longer prices stabilize in the mid-to-high $30k's the more the skittish panicky short termers are going to feel comfortable getting back into the market, and just a small shift in that sentiment creates a floor and an uptrend and it all just cascades from there. And then at some point there's a massive supply shock because the long term holders have been buying up a lot of what the short termers have been selling to them on the cheap. The short termers come back in and BOOM, there's no more supply and price starts flying. We might still have a few weeks or even a month or two of ranging if people keep freaking out about external economic conditions (everyone seems afraid of the Fed raising interest rates in March even though that has absolutely no effect on Bitcoin).

So yeah ~$33k was the bottom, either ranging in $30k's or back into the $40k's in Feb, maybe by March that incoming supply shock hits and we're back to new ATHs by May.

I don't share this view. Bitcoin will probably not go down lower than $30,000 anymore. Even if what you're saying is true, Bitcoin's price will probably just maintain its flight $30,000 or above.

If everyone didn't buy at $34,000 because $30,000 was a better buy, then $30,000 will be a strong support. So if there is a strong demand in $30,000, why would this support be breaking and the price to fall down even more to $25,000? If there is indeed a certain level of greed in $30,000, it will become a platform for its bounce.